Welcome to Southwest Florida Real Estate

Archive for September, 2013

Foreclosure Houses Sometimes Make A Good First Property

Are you in the market for your first new home? Do you want to buy a home, but are not sure if you have the finances to make it happen? If you answered yes to either one of these questions there is an easy solution to your problem; FOR SALEyou can look into foreclosure houses in your area. There are a few good reasons that foreclosure houses are great for people who are looking for their first property.

The main reason that foreclosure houses make good first properties for people is that they offer a great price. You can save thousands of dollars by purchasing foreclosure houses instead of more traditional properties. There is a good chance that you will find more than one home in your area that is discounted up to half of the actual market value.

In addition to the great price that you can get up front on foreclosure houses, they are also great investment properties. If you buy a foreclosed home as your first property, and pay it off in 15 or 30 years, you will have made quite the profit. When you go to resell the house you will be able to sell it for HOMEthousands more than what you paid for it initially. And all you have to do to take advantage of this profit is simply live in your house, and make the payments.

Foreclosure houses are also good properties to look into because there is a large selection available all over the country. Regardless of where you live, you will never have any problem finding foreclosure houses in your area. This means that when you are picking out your first home that you will not be restricted in the least bit. All you have to do is locate the foreclosure houses in your area, and then go SOLDthrough all of them to decide which one best suits your needs.

A lot of people overlook foreclosure houses when they are searching for their first property. Even though you will not be buying your property from a real estate agent, you will still be getting a home that will suit your every need. Not to mention the fact that you will be able to save thousands of dollars off of the market value price. Chances are that if you are buying your first home that you have other things to purchase as well. Why not free up some cash by purchasing foreclosure houses?

Advertisements

Tips for Locking In The Lowest Mortgage Rate

Whether you are a first time home buyer, or you have been purchasing real estate for years, one of your main goals other than finding the perfect piece of property is to make sure that your mortgage rate is as low as possible.  Anyone PERCENTAGEwho has had to navigate the tricky waters of the mortgage markets knows that rates can vary day by day and knowing when to lock in the rate can save you thousands over the life of the loan.

When looking for a mortgage one of the most important things to keep in mind is that competition is key to getting the lowest rate.  Many first time home buyers make the mistake of not shopping around for a mortgage.  They take the first offer that is presented to them and often end up with a rate that can be as much as one or two full points higher than rates for others with a similar financial background.  They think that their real estate agent is there to help guide them to the best choice – when in reality they are there to earn their commission.  The best advice for new home buyers is to always make sure that you separate your financial transaction of buying the house away from the process of finding a home.  The rule of thumb is UPyou should compare rates from at least three different providers, more if you have the time.

Even experienced real estate buyers can sometimes end up over paying their interest.  The biggest gotcha is not locking in your rate when you had to the chance.  This is especially true in times of economic downturn or when there is uncertainty in the credit markets.  Often you have less than 48 hours to lock in a rate once presented to you by your lender.  If you are uncertain whether rates are going to go up or down after you lock in a good rule of thumb here is to watch the 10-year Treasury note.  Mortgage rates tend to follow the yield for the 10-year note more than they do any other short-term investment, including Fed rate adjustments.

RATESWhen you do decide to lock in a rate make sure that you get it in writing, including a full disclosure of the terms.  Oral agreements won’t hold up should you need to pursue legal action.  A written agreement protects both you and the lender from any miscommunications.  You will know exactly what you are getting on what terms and how long the rate lock is good for.  Typically, you want to aim for 30-60 days to give you enough time to find the house that is right for you.  However, 30 days is becoming more standard as the rate markets continue on their rollercoaster ride.

You might also want to consider asking about a float-down CONSIDERagreement to lock in the rate.  Under this agreement the lender keeps the rate at your locked in value should rates go higher, but if they decrease they lower the rate to match.  The only drawback to these agreements is they can be expensive and depending on the size of the mortgage note the cost to enter into such an agreement may very well offset any savings you would gain unless the mortgage rate declined by more than half a point or more in many cases.

Locking in a mortgage rate is the best way to get the mortgage you want at terms you can agree with.  It lets you focus on finding the perfect home of your dreams instead of worrying about fluctuating mortgage rates.

Skiing In Bulgaria

Ok, so I know Bulgaria isn’t likely to be the first place that springs to mind when you think about a skiing vacation.  However, you’d be surprised to learn that Bulgaria is becoming an increasingly popular destination of choice for SKIholiday makers across Europe, and the world.  A new breed of European country, Bulgaria is beginning to build towards becoming an industrialised, metropolitan nation.  The eastern European nation has a surprising depth of history and culture, and is truly an excellent place to discover.  With this national growth comes the development of its inherent passion for skiing, and this is evident across the country, with various ski resorts springing up all over the place.

Bulgaria’s most recognised ski resort is Bansko.  As a result of massive investment in Bulgaria, particularly in the development of the tourism industries, Bansko is undergoing extensive refurbishment and modernisation, to create a facility that can compete on a world scale.  As well as time and money spent on developing hotels, luxurious apartments, ski lifts and other facilities, there is also a great deal being ploughed intoFLYING refining the actual slopes themselves, to ensure a high quality, internationally acceptable skiing conditions.  With impressive snow coverage from late November through to spring, Bansko is an ideal location for a ski resort, and this is reflected by its increasing popularity.  The beautiful village itself is rich in history and tradition, and you’ll find the people very warm and welcoming; eager to please, and ensure you have a good time.

Another of Bulgaria’s major ski resorts is Pamporovo, situated on the Rhodopi Mountain.  A thoroughly modernised resort, Pamporovo boasts an extensive training academy and well maintained ski runs for all abilities.  The most southern resort in Europe, Pamporovo benefits from a particularly sunny climate, with around four months of sunshine, and plenty of snow.  That means you’ll never be skiing in too unpleasant conditions!  Pamporovo is also more than adequately equipped to deal with holiday makers in terms of auxiliary services, and has VIEWrecently unveiled plans for a state of the art ski lift.  With so much time and investment being spent on these slopes, it really is an ideal time to visit Bulgaria.

Of course the beauty of Bulgaria as a great skiing location is that it is relatively untouched and undiscovered.  This means that you can benefit from the excellent facilities without having to contend with too many tourists.  Thus, Bulgaria provides an excellent opportunity to enjoy skiing in eace and quiet, in idyllic settings.  Additionally, for a trip in Bulgaria, you’re going to be paying significantly less than other European countries for the same amazing weather and fantastic skiing.  Bulgaria really is a win/win location for any skiing holiday.

With such extensive investment in the nation, Bulgaria is an up and coming holiday destination as it pushes towardsENJOY European integration.  By nursing an ever strengthening tourism industry, the nation is growing continually, and this is great news for skiing enthusiasts who can benefit from its excellent natural resources and ski resort facilities.  Additionally, with such a quality-orientated approach, Bulgaria is challenging the more industrialised European nations in terms of service and produce. For a low-cost, high quality skiing vacation, Bulgaria has to be a consideration, so why not book your vacation, and discover Europe’s best kept skiing secret for yourself?

Homeowners Insurance Rates Keep Rising, Lower Rates – How Can You Get Them?

Rating of Homeowners insurance depends on various factors. The most knowledgeable buyer usually finds the best home insurance rate. To get the best homeowners insurance rate, you should do a bit of research work. If you cannot DREAMtime yourself for it you can of course seek professional help. This approach is time-saving but you have to be cautious about your advisor.

Here are some tips to get the best homeowners insurance rates.

1. First of all you should get the basic understanding about your home insurance rate and the different policies. You have to know who regulates the rate. It is the individuals of an insurance company who decide on the home insurance rates and these rates are regulated by the insurance department of the state. The state insurance department is the approving authority; it is only after their approval the rates can be passed on to the customers.

2. Before applying for homeowners insurance, you should shop around, so that you get the best homeowners insurance rates. To maximize your options you should make a search of your own.COMMERCIAL LEASING Enquire with your local bank, lenders and credit unions. Today, many banks have official websites; you can send your enquiry online. After completing your search, compare with those available in the advertisements. This will make it easier for you to get the best deal.

3. Some insurance companies provide more than one kind of insurance policy. For example, they will give you better rate if you buy auto policy along with home insurance. It also helps you get better home insurance rates.

SECURING YOUR HOME4. Many insurance companies are associated with security companies like Brink’s or ADT, these companies offer you better rates if you install a home security system.

5. Not only better rates, you can even get discounts if you are ready to install motion sensors or video surveillance cameras in your home, provided by the associate companies of home insurance company.

While keeping these points in your mind, you can get the best homeowners insurance rates.

Interest Rates Have Been Climbing In The Past Year, Finding Re-Financing Information

Homeowners who are considering re-financing but are not knowledgeable about the subject have a number of options available to them for finding more accurate information regarding the types of re-financing options available as well as the ways to obtain the best available rates and tips for finding a reputable lender. This information can be MORTGAGEobtained through a number of resources including published books, Internet websites and conversations with experts in the financial industry who specialize in the area of re-financing. All of these sources can be very helpful but there are also precautions homeowners must take when using each information source. Taking these precautions will help to ensure the homeowner is receiving accurate information.

Using Books for Research

Published books are often considered to be one of the most reliable resources for researching re-financing options. However, not all books on the subject are created useful. Readers may find some books provide a great deal of useful, current information while others books are filled with outdated information and information which is not 100% accurate.

The best way to select a book or books when researching the subject of re-financing is to start the search with books that were only recently published. This is important because the financial industry is continually evolving and as aREFINANCE result books which were published only a few years ago may already be considered out of date.

Homeowners should also seek out independent reviews when considering books on the subject of re-financing. This is important because books which consistently receive solid reviews from consumers are likely to be worthwhile. Conversely books which consistently receive negative reviews are likely to not be worthwhile. Homeowners should seek out highly recommended books while avoiding those that are not highly recommended. This may prevent the homeowner from wasting time reading books which are not informative and may even be inaccurate.

Using the Internet for Research

The Internet is another resource which can be very valuable for homeowners who are considering re-financing their home. The Internet is filled with valuable information but there is also a great deal of misinformation floating around on the Internet. Homeowners who are completely uninformed about the re-financing process may not be able to distinguish between the useful information and the misinformation. As a result these homeowners may be led astray INTEREST RATESby inaccurate information on the Internet. Homeowners who wish to avoid the potential for this problem should consider verifying the information they find online through an outside source such as a published book from a renowned author or by conferring with an expert in the subject of re-financing.

Homeowners should also do the majority of their research on well established websites. This includes websites owned and operated by major lenders which have been in business for years. The information on these websites is likely to be much more up to date and accurate than websites which are created for profit by website owners. 

Consulting with Re-Financing Experts

Finally, consulting with financial experts who specializes in re-financing can be very helpful for homeowners who are considering re-financing. This might be the most expensive option as many of these experts will likely charge a fee for their services but it can also be the most reliable source of information.RATES

There are a number of advantages to consulting with an industry professional as opposed to researching the subject independently through published resources. The most significant advantage is the ability to ask questions throughout the re-financing process. This will help to ensure the homeowner fully understands the available options. It will also help to ensure the homeowner receives the best possible re-financing option for his specific needs. The re-financing process works best when the homeowner offers their input about the type of re-financing they are seeking as well as the benefits they hope to obtain through re-financing. The re-financing expert can than make a better recommendation which will suit the homeowner’s needs.

Short Sales, Foreclosures, Investment Properties, Why Investing In Hud Home ?

I get asked all the time by new real estate investors if investing in hud homes is a good strategy. I will be recap in this article what I tell them….

REFINANCEThe increased demand drives up the price and new investors tend to get any and will buy based on emotion instead of logic because they “just want to get their first deal”. If you pay too much for a property, you will lose your shirt on the deal. That’s why it important to not overpay for the property because you make your money on a property on the day you buy, not the day you sell. This is why it’s important to have the right real estate investing training so you know how to spot the good deals from the bad and not overpay for a property.  Your first deal can bankrupt if you don’t structure it the right way.  I see this all the time in my real estate investment club. The guys that don’t take the time to invest in their education are soon out of business because they try and figure it out on their own and fail.

Short Sales are a great way to guarantee that you won’t overpay for properties. If you are wondering “what is a short sale “or are wondering what the “definition of a short sale is“here you go.  A Short Sale is when the lender accepts less than what is owed on a mortgage on <a href=”http://www.realestateforeclosuresinvesting.com> home foreclosures</a>.

All of The deals are no money down. We don’t give the sellers any money when we get the deed to their house. The SOARonly thing you have to pay when you get a deal is the cost of the notary and recording fee when you record your deed. That’s a maximum of $100. Now my acquisitions manager is a notary so I don’t pay any notary fees. If you don’t put any money down on the house, you aren’t putting any money at risk. You don’t need good credit to do short sale deals. You don’t need to go get a mortgage when you do short sales deals. If you don’t need to use your credit, you aren’t putting your credit at risk. You fund the deal the way you structure the transaction. You fund the deal by either:

The ability to own houses without having to make monthly mortgage payments. There are no monthly payments to make for short sale deals. The houses are either in foreclosure or about to be in foreclosure. You don’t need to make any payments therefore you aren’t putting any money at risking making monthly payments.

Pre foreclosures and Short Sales are extremely easy to find right now. There aren’t enough investors out there to handle all of the deals in the market. That’s why I’m on a mission to equip you with all of the resources you need so you can go out there and help all of these struggling homeowners and make a lot of money while doing it. 

You may here some real estate speakers say to stay away from foreclosures because there is too much competition. FORECLOSUREWell that was then and this is now. They are teaching old information because they are not currently practicing what they preach. I am actively buying and selling foreclosures in my own backyard and I know what works and what doesn’t work.  And I have to tell you there is no competition for pre foreclosure and short sales now because there are so many of them.

Short Sales are easy to get because it doesn’t require you to do a lot of negotiating with the seller because they know they don’t have any equity and they’re just looking for a way out.  You are their solution! I love working with short sale sellers because they are the most motivated sellers out there.

Short Sales are the most profitable quick turn deals to do in residential real estate because you’re making all of your profit on the discount with the lender

One of the biggest benefits of the short sale business is that it works even better on Luxury Homes. The banks are more flexible and more negotiable on larger mortgages. Banks don’t want to take houses back and they definitely don’t want to take back Luxury homes.DON'T FORGET TO MAKE THE BED

It takes the same amount of work to do a deal on a luxury home than it does to do a starter home. The difference is A Luxury home pays 10 times as much profit. Its like doing 10 deals in one and when you combine the short sale strategy with luxury homes, you’ve got the golden ticket.

You See, Banks are in the money business. They’re not in the <a href=”http://www.realestateforeclosuresinvesting.com> Real Estate business</a>. They don’t want to own any properties. Their only interest is making interest on their money. Foreclosing on homes is a hassle they have to deal with because it’s a cost of doing business for them. The sooner you understand this the sooner you will realize how huge this opportunity is for you right now.

When banks lend out money – they have to keep a multiple of 5 times the amount of money they lend out in reserves. When a loan goes bad, it’s now considered a non-performing asset and that limits the amount of money they can lend out.

AFTERIt costs a bank a minimum of $30,000 to foreclose on a home. They would rather take a discount on the mortgage and get that bad debt off their books so they can lend out more money.

You are the solution for them. Banks need you to help them liquidate their houses so they can get rid of their bad debt. You are doing them a great service.

Selling Your Home – Don’t Be A Victim

Selling your home can be a complex process. If you make mistakes, you may be unable to sell you home or have seller’s remorse. There’s no need for this if you keep in mind the following.

SELLING A HOMEOverpricing Your Home

It’s important to be realistic about the value of your home. Sellers should insist their realtors present them with objective criteria for pricing. Comparative information is most critical in getting a house priced properly. If you ask for too much, it’s hard to ask for less later on in the process.

Not Displaying Curb Appeal

You don’t have to invest thousands of dollars into redecorating your home. But there some basic steps you must take to present your house in the most positive light.

Overdoing Home Improvements

Don’t go overboard staging your home. It should feel warm and inviting. Grass should be freshly cut, plant someLIGHTS flowers, organize the home’s interior, rid the home of foul smells and apply new coats of paint to all walls and doors.

No Understanding The Buyer’s Offer

Carefully reviewing and understanding the offer or purchase contract is imperative. Here are a few things to look for:

1. Has the buyer agreed to put down a significant deposit?

2. Has the buyer asked for some credits to cover loan costs?

3. Is the offer contingent upon the owner selling his or her present home? If so, how is the selling process transpiring?

Home Inspection

Have general inspections done in advance. Even though buyers will often have the house inspected again, it’s best to prepare for any potential problems.

LIVING ROOMWithholding Information

While it is tempting to hide or fail to mention the snafus of a home for example, it’s a the hotel for cockroaches or located in an area that’s prone to floods or earthquakes, canyon fires, it is best to give buyers full disclosure. This kind of information can greatly affect the value or desirability of the property.

Be Objective:

While you may think your pink walls or roman columns are fabulous, it is best to keep that opinion to yourself.

Poor Realtor Communication

Sellers should take a pro-active approach to the selling process and not rely completely on the realtor. Sellers should insist upon regular updates about the house and never assume the realtor has taken care of everything. It is the seller’s responsibility to ensure everything is running smoothly.

Investigate Buyers

Once you have an offer on the table, it is imperative to secure letters of pre qualification or loan approval from the POOL HOUSEbuyers. These letters should not only state that the buyers’ credit has been checked but also that it was acceptable to the lender. Also, it’s important to ask buyers to complete a loan application and submit it to their lender within a few days after acceptance of the offer.

Closely Read Closing Statements

Cautiously review the closing statement, including the loan balance, repairs and other expenses detailed there to avoid last-minute surprises or errors. Make sure you get an estimated statement a few weeks prior to closing and compare the final statement to the estimated one.

If you follow these steps, you will go a long way towards avoiding being a victim in the home selling process.