Housing Market Mired in Foreclosure Fiasco
Posted by Tim Harris in News
After five of the most prosperous years in recent memory, 2006 saw the real estate market go bust. Low interest rates combined with a strong economy fueled the market for the first half decade of the new millennium. Last year, however, saw sales of single family homes fall nearly nine percent across the nation. That was the biggest drop in nearly 20 years. When the numbers come in for 2007, they are going to look even worse. In fact, the downward trend is likely to continue for the next several years. You even hear the experts commenting on it in the news. Jim Crammer, CNBC, is encouraging viewers to just ‘walk away’ from upside down mortgages. This is an example of how dismal the outlook has become. Read the rest of this entry »
It’s Back to the Future for Real Estate
Posted by Roselind Hejl in News
The serious decline in housing sales in many parts of the country [USA] is well documented. This downturn was preceded by several years of rising home prices in many areas. In some cases, prices rose beyond levels that were supported by local salaries, and were clearly not sustainable. The driving force that fueled the rise in home prices was the availability of low interest money. Easy availability of home mortgage money, plus historically low interest rates, allowed the demand side of the market to build. Read the rest of this entry »
Las Vegas: Foreclosure on the Rise
Posted by Louis Vozza in News
Many real estate areas that experienced recent booms are now experiencing a different type of market. Prices that were once soaring and making investors a lot of money have now evened out and, in some places, started to fall. This has led to the increase of foreclosure claims as investors who invested too late in the game were unable to sell their property quick enough to make a profit before they saw the value of their investment property drop. It is for this reason that the Las Vegas foreclosure rate has risen over the past couple of years. Read the rest of this entry »
Personal Letters - working wonders!
Posted by admin in News
Matt Cutts is better known for being the inside guy at Google that webmasters listen too so I never expected to see comments about flipping on his blog 
Well, not really comments but he talks about someone who received this letter:
Dear (name)
My name is David, my wife is Jennifer. We would like to buy your house at (address). Please call me @ 408-772-0507.Sincerely,
David Jan
It appears, because the guy is talked about all over the web (all the more so now that Matt has waded in), that he isn’t buying for his own use, but he’s flipping houses. I’d be interested in knowing the return on the time invested in this approach? Is it worthwhile?
We’ve done a letterbox drop with printed messages for the house we currently live in but not for a flip or investment property.
How Bad Is Today’s Lending Crisis
Posted by admin in News
I went to a very interesting meeting yesterday at which Joe Brown, founder of Milestone Mortgage, who walked us through the start and what he sees as the finish of the current lending crisis. The following comes from notes I took. Read the rest of this entry »