Wednesday, August 31, 2016
WHAT YOU NEED TO KNOW IF YOU WANT TO INVEST IN BITCOIN IN 2016
I read this interesting article this morning and wanted to pass it along. It caught my eye for two reasons, first I keep hearing about BITCOIN and didn't know what it was exactly, and second the article mentioned how it would effect the real estate market. I found it to be interesting and thought I would share.https://www.bisnow.com/national/news/capital-markets/what-you-need-to-know-if-you-want-to-invest-in-bitcoin-in-2016-64640?rt=25408%3Fbe%3Dsborchelt%40golyon.com&utm_source=Newsletter&utm_medium=Browser&utm_campaign=wed-31-aug-2016-000000-0500_national-re%3Futm_source%3DCopyShare
Tuesday, August 30, 2016
5 Steps Buyers Can Take In a Sellers Market for Success
With low interest rates, rising rent prices and a stronger sense of job security, more folks are jumping into the housing market to buy their first home. With the current low inventory levels, the market today is considered a “Seller’s Market”. In a Seller’s Market, it is likely that buyers will encounter competition and bidding wars. Often, full price offers are the norm and even offers over asking. So what should home buyers do in a seller’s market when you’ve fallen in love with the house and can’t see yourself in any other home? Here are a few steps to increase your chances of getting the home you love and setting yourself up for success in the beginning:
- Step 1.Before you do anything, get a pre-approval letter. The pre-approval shows the seller that you have been vetted financially while giving you an idea of how much you can afford.
- Step 2. Don’t put in a low-ball offer. Be prepared to pay fair market value. Low-balling a seller may alienate them right off the bat. Plus you waste everyone’s time going back and forth. And you risk another offer being accepted while you fuss.
- Step 3. Be flexible with timing. You can improve your chances of landing the home you want if you can show that you are willing to move as quickly — or as slowly — as the seller needs.
- Step 4. Tug at the heart strings. Are you and the person selling your home both veterans? When sellers are facing multiple offers, getting a personal letter from buyers that shows why they love the house might help to set the offer apart.
- Step 5. Get a pre-inspection. Anything you can do to speed up the buying process and make it easier for the seller might improve your chances.
Remember, if you love it, there’s good chance others are going to love it for the same reasons. It can be a stressful time so make sure you have all your tools in your tool box ready to go. Making sure you have the most awesome Real Estate Agent on your side is another big factor. You may want to check out my blog on How to Hire the Most Awesome Realtor Ever! So give me a call and let’s get the pre-approval for your home loan out of the way first.
Wednesday, August 17, 2016
Stepping on the real estate scale (at the right time of day)
Stepping on the real estate scale (at the right time of day)
A Scale Analogy: Imagine being on a diet and stepping on a scale in the morning before breakfast and then again at night after eating all day. What would happen? Well, it’s going to look like you gained some weight during the day because the body is light and empty in the morning and naturally heavier at night after a day of eating. Unless you want to punish yourself with thoughts of weight gain, the key for using a scale would be to weigh yourself every day around the same time so you are comparing the same context each day. Otherwise when comparing one context (morning) with a different context (night), it might look like you gained weight when you might have actually lost some.
For the rest of the story and comparable graphs click the link below:
http://sacramentoappraisalblog.com/
For the rest of the story and comparable graphs click the link below:
http://sacramentoappraisalblog.com/
HUD program offers investors a discount on default properties
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Home » SPONSORED BY Chronos Solutions
As the number of REO properties continues to shrink, investors looking for distressed inventory are often left scrambling to find affordable options. Many of these investors are unaware of a program that was designed to decrease the number of FHA properties in default through quick sales — the Claims Without Conveyance of Title (CWCOT) program.
The program was developed to help servicers sell properties quickly at auction without having to convey them back to the U.S. Department of Housing and Urban Development. The program has been in effect since 1987, but received a crucial update in 2014 when HUD recognized that the properties needed to be discounted to be competitive.
“Before this update, banks and servicers had to get a bid that protected the interest, and no investor would pay that, so all these properties that were foreclosed went back to the bank as REO,” said Tony Isbell, president of RealtyBid.com, the auction platform ofChronos Solutions.
Now, to expedite the sale of default properties, HUD is allowing bids that are below the total debt owed on the asset, which opens up a huge opportunity for investors. The amount of these mandatory discounts varies by state, but can be anywhere from 10% to 20% off the value of the property, and servicers can choose to discount them even more.
“For the first time in history, banks don’t have to foreclose and take ownership of these properties,” Isbell said. “The servicer’s goal is to never convey a property back to HUD. If a bank has to pay $25,000 before they can convey a property back to HUD, they can now come out of pocket and discount it for investors instead.”
The CWCOT program differs from an REO sale in some significant ways. For instance, properties are sold as is and investors may not be able to see the property ahead of the sale. But the benefits far outweigh the costs, with buyers getting a compelling discount.
Because many servicers and investors are new to the CWCOT program, Chronos Solutions offers high-touch service that walks them through the whole auction process. Whether the property is being sold through a live auction at the courthouse or through an online auction process, Chronos maintains close contact with the bidders through RealtyBid.
“We are in contact daily, sometimes even multiple times a day, with all the lenders and bidders involved to make sure they understand what’s happening,” Isbell said. “Bidders can call and get a live person who is knowledgeable about the process to talk them through it.”
Founded in 2007 as Matt Martin Real Estate Management, Chronos Solutions acquired RealtyBid in early 2015 and re-developed the company to be investor-friendly. The company combined state-of–the-art bidding technology with responsive customer service to create a streamlined process that makes it easy for both servicers and investors.
“Our technology allows us to be very agile and that benefits the seller and the bidder,” said Kristina Krutchik, director of auction services at RealtyBid. “As auctions unfold, our technology allows us to stay up with what is happening and get sales results to bidders quickly.”
In addition, RealtyBid uses highly advanced and respected data security systems to ensure every real estate transaction is secure. The company has marketed and sold hundreds of thousands of real estate assets since 1999, and has been auctioning properties online since 2001. This expertise translates to a secure, hassle-free experience for investors.
To find out more about the CWCOT program and how you can participate, read the white paper, Success with the FHA’s CWCOT program here, or visit www.chronossolutions.com.
Monday, August 8, 2016
New rules aim to protect widowed homeowners from foreclosure
Andrew Khouri
The Consumer Financial Protection Bureau has issued new rules aimed at protecting widowed homeowners from a red-tape nightmare that has caused them to lose their homes to foreclosure.
The regulations, announced Thursday, generally give surviving spouses who are not on a mortgage note the same protections borrowers have. Those include a ban on so-called dual tracking in which mortgage servicers negotiate with clients to modify a mortgage while simultaneously pursuing foreclosure.
The rules, which expand and clarify existing guidance from the agency, were long awaited by consumer groups that are pushing similar regulations in a pending California Senate bill.
Those advocates say survivors — who already owned their homes or inherit them after a death — face considerable resistance from servicers when they seek loan modifications after losing their spouse’s income.
Read the rest of the story see web link above.
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