Just wanted to give an update on House #1. I had a repairman go over there to check out the range, and it turned out to be a faulty switch. So he replaced it and they now have a fully-working range. I picked up a garbage disposal Saturday and went with my FIL to replace it yesterday (Sunday). thinking it would be a 30-60 min job. It turned out taking a full 2hrs to finish as the old disposal was an absolute pain to get out. It's as if they hammered the #$%! thing in. But we got it replaced, and all is working. So, I have two happy tenants again.
Also, as expected, my very lowball offer for the REO we were hoping to get for our personal residence was flat-out rejected with no counter. Matter of fact, the listing agent told my agent that the Seller refused to even negotiate at that low of a price. LMAO! Gotta love it.
Lastly, I'm working on moving my blog to a new location. It will be my actual domain, so I'm trying to work out all the kinks first. Once it's all up, I'll write a post here on the URL.
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Try again in a month. See what their response is then..
Hey Shaun. It was a good stab, but even I think it was a ridiculous offer. We decided to submit a much higher offer in the hopes of landing it for at least $50k below FMV. We figure if we can get into it b/w $40-50k under FMV and make the improvements we want, we can do a HELOC and pay ourselves back. Texas law limits the CLTV for personal residences at 80%, which is good and bad: good because you know you'll always have 20% equity in the house (unless the market drops, of course) and bad because you can't tap into that 20%.
There's no harm in trying to go low. You never know what kind of situation the sellers are in and how quickly they want to move the property. Better luck next time!
steamboat
The Real Estate Market Starts Climing Again
During the past couple of years we've all seen a tremendous change in real estate in the country.
This change actually has spread all over, businesses loosing money while gas prices are extremely high.
The real estate market has become a big issue for all of us out there, we've seen many homeowners loosing their homes and struggling to find a home to rent because of their credit.
What happen to us?
Remember the bubble 4 years ago?
That's exactly the answer, from years of prosperity and times of spending, traveling and investing in stocks and real estate, we are now experiencing another bubble but this time the bubble is going in a different direction and we are wondering what to do.
So real estate was going down and it's still going down, some economists say that it will get stable in 2 years from now.
The sellers market became a buyers market, and today we all know it by now.
Investors and renters that saved their money for better days to buy to make money are in the market today, that's making the real estate market busy.
Real estate agents that learn how to change with the market also learned how to make money from the changes, these real estate professionals are making lots of money and while we are all struggling for business they're making the business.
Today you can get a home directly from the banks for almost half the price.
I've seen homeowners that are so desperate that they're willing to give their homes for free, just come and take their loan and continue their payments.
On the other hand, investors are looking to buy homes in bulk, they can get homes $.50 on the dollar.
Some banks like bank of america and countrywide are selling hundreds of homes in bulk to investors at a discount prices.
So real estate agents are busy getting hundreds of listings and reo's from banks, then they're selling these homes at a low price to future homeowners and investors.
It's definitely a buyer's market like we had in the early 90's, so if you're an investor or a homeowner.
This is your time!
A real estate agent should have negotiation skills. Ups and downs are the part of the business and there is no harm to go low. One should try.
Now a days Real Estate Market Starts Climbing Again. As we all know during the past couple of years we've all seen a tremendous change in real estate.If you're an investor or a homeowner.This is your time!
http://www.capitalmotion.com/
Drop The Rent!!!
At HometownRenter.com we understand that you want to get the highest rent for your property. Our advice to owners is to make sure to stay competative in the market. A property not rented in most cases is another mortgage payment paid. If the property is worth $1,000 a month but everyone in the community is at $1,000 a month, the chances of you renting your place are very slim. If you drop it to $950 you will be able to rent your place fast and not miss another month.
Well qualified applicants are aware they are a hot commodity in this era of tarnished credit and lost jobs. They are shopping their well qualified applications out to the large inventory of investment property on the market. How do you attract them? Drop the rent! Gimmicks do not work--these people have worked hard to keep their credit scores up, their incomes stable and their rental history in tact. Drop the rent...it really is that simple! Prompt placement of a qualified applicant immediately stops the bleeding of lost rents, continued advertisemement expenses and the real possibility of a break in or vandalism. You may not receive top market rent--but you will see regular income that you can count on. Find your best tenants and rental properties for FREE at HometownRenter.com. Your local and national rental site.
Did you ever get a new URL?
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