You cannot turn the radio on without an investor telling you they have a free seminar coming up in Houston. They will tell you how to make a fortune flipping houses with no money down. Flipping homes is on everyone’s mind. After all, where else can you double you money in a few months? The Houston MLS shows that there are 483 single family home foreclosures listed for sale today. The total amount of single family homes listed for sale in the Houston MLS is 17,864 on March 28, 2015. That means of all the single … [Read more...]
How Houston Realtor Makes Use of Latest Transaction Management Software
Houston Inner Loop Realtor Bill Edge is committed to providing the most effective and technologically current resources to his clients. He uses HAR ETS, a electronic transaction solution (ETS) which allows the buyer or seller to view their transactions electronically. Bob Hale, President/Chief Operating Officer Houston Association of Realtors (HAR) said “from listing to closing 92% of the consumers want to see transaction management.” Bill was a contributor to the software’s functionality and shared his in-depth … [Read more...]
Foreclosure Homes in Houston Texas | How to Find & Buy Foreclosures
Yes there are still many foreclosure homes available for you to buy. You already know the deals you can get your hands on by finding and buying foreclosed homes. But here's the problem...Where do you find the best deals before another buyer beats you to the punch? Hot do you get your offer accepted over 17 others? How do you finance a foreclosure? You will never miss out on the hottest property listings again if you use our system. 1. Where to Search: All Foreclosure Homes Search all … [Read more...]
How do I buy a Tax Foreclosure
The Harris County Tax sale resembles a carnival where property listings are auctioned off to pay for taxes owed by the owner. You see Ex-Enron traders, professional home re-modelers, wide eyed novices, and even investors flying in from out of town running madly around a city block with excel spread sheets in their hands. Everyone has their secret formula to success which they are guarding with their lives. The most important thing to realize is that the professionals have figured out a maximum price they will … [Read more...]
Buyers in Houston will see a Housing shortage in 2013
The inventory of homes in Houston has dropped to levels last seen 12 years ago. The number of homes listed for sale in November 2012 according to the Houston Association of Realtors was 36,539. This is a 34.2% drop in the number of homes (45,113) listed for sale in November 2011. While new home starts are well below the record peak hit in 2006 when over 50,000 new homes were built in Houston. What this means to you the buyer is that there is a lot of competition for homes listed for … [Read more...]
REO trends are available on a number of sites
Want to stay up-to-date on REO developments in your state, county, and city? Explore the data offered by these sites. These easy to search databases will provide you with insight on real estate trends. By analyzing the scope and magnitude of foreclosure trends you will be able to make informed buying decisions OCC Mortgage Metrics Report www.occ.treas.gov/publications LPS Mortgage Monitor www.lpsvcs.com Local area Unemployment Statistics (LAUS) www.Bls.gov/lau Housing Price … [Read more...]
FHA 203K loan is perfect for foreclosures
The FHA 203k loan was written in 1978 with the revision of the National Housing Act (NHA). In the first 30 years of the program only 1,700 FHA 203(k) loans were written in the US. The loan was rewritten to become a direct process endorsement making the lender responsible for all steps in the process. FHA 203(k) grew rapidly between 1996 and 1997 but started declining because of the abundance of new housing with easy financing available. The FHA 203 (k) loan had all but disappeared when HUD in 2005 introduced … [Read more...]
Short Sales offer Bargain Prices to Homebuyers
If you are looking for a bargain buying a home and you have plenty of time. Then a short sale offers the opportunity to acquire instant equity in a home. In a short sale, the lender allows the home to be sold for less than the mortgage balance. As a result, prices often are affordable. But short sales are complex and can take a lot of time. Short sales are complicated because the final price must be approved by the both the home seller and the seller's lender. So short sales require extra time to move from an … [Read more...]
2012 HARP Program Eligibility Calculator
The federal government has made changes aimed at making it easier for many borrowers who owe more on their home loans than their houses are worth to refinance into lower-cost mortgages. There are several criteria that must be met to qualify for the updated Home Affordable Refinance Program, though. For instance, your current loan-to-value ratio (the amount of your loan, divided by the value of your home) must be greater than 80 percent. The real estate Web site Zillow.com has introduced a calculator to help … [Read more...]
Short Sales are not very Negotiable
Buyers have to remember that a short sale is not a foreclosure. The homeowner still technically owns the property. The homeowner is trying to sell the property before their lender forecloses on it. Lenders are willing to go along with short sales because there are costs involved in foreclosing on a property. Also the owners or neighbors may vandalize the property, or steal appliances, copper tubing etc from the home. The lender could end up with a home which needs thousands of dollars in repairs. The seller … [Read more...]