» Real Estate Investing Criteria-Stick to the Basics in any Market » Posted by Realestator
Foreclosures, Short Sales, Distressed Homes - there’s so many ways to make money in real estate right now, one could easily forget about their Real Estate Investing Criteria. But a wise real estate investor will remember that in any market, you should always Stick to the Basics. Location, Location, Location: The holy grail of home buying is even more important in a depressed market. Look around and determine how many other homes in that area are also bank owned or short sales. This will severely depress the price for quite a while until things recover. If you plan on renting the house out for a while, then you may still end up with a good deal. When in Doubt, see Rule #1: Read More
» What is a Short Sale? » Posted by Realestator
Many people keep hearing the phrase and are asking, “What is a Short Sale?” Depending on the area you are interested in purchasing in, many homes that are going into foreclosure will have mortgages that are more than the property is worth. This situation is called being “upside down.” When a homeowner finds themselves in this situation, they have very little recourse. If they place the home on the market, and they owe more than it is worth, then they will have to make up the difference between what they sell it for and what they owe the bank out of their own pocket. Also, they must pay the realtor if they sell it the traditional way. Obviously people who are losing Read More
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