Welcome to Foreclosure Guide
Foreclosure Broker Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
House Foreclosure Tips on When you Should Buy and Sell
from:It is important to have a game plan whether or not you are preparing to buy your own foreclosure home for your family or whether you plan on purchasing a house foreclosure that you will fix up and sell for a profit. Your plan will include short term and long term goals and take into consideration the amount of financing that you have available to you. It is vitally important to have this plan of action because your goals and objectives are taken into consideration by the bank and other mortgage and financial lending institutions before granting you a loan for new house foreclosure property.
The first consideration is whether you tend to hold, (keep) or flip (sell) your house foreclosure property. Even if you are not planning to live in your house foreclosure property and intend on renting it out, you will want to make sure the conditions remain profitable to do so.
Of course the real estate market will influence your decision as well. You will hold onto the property when:
• When there is a continued cash flow, or income coming in from your rental unit(s).
• The property values in the neighborhood are continuously going up, the taxes are increasing accordingly, and the appreciation upon the properties are rising as well. As the trend continues you can expect to increase the rents and your income will raise in accordance with these changes.
When to sell or flip a house foreclosure property:
• If you know that you can turn an immediate profit by selling right away.
• Your anticipated income or cash flow is nil or well below your initial expectations resulting from unexpected hidden costs, repairs and maintenance, property taxes are higher than the rent coming in, renters that default on paying their rent or paying on time, or destroy the property.
• The neighborhood is deteriorating, crime rate is on the rise and drug dealers and other criminals are infiltrating the community.
• There is a downward swing in the market and you want to get out from under this house foreclosure property.
Since generally speaking house prices and rents are constantly increasing, it goes without saying that the house foreclosure market is a very good business to invest your money and turn a profit for either your long-term or short-term property ownership goals. Don’t be discouraged if at times the property values increase at a snail pace, in the long term they will always increase.
Just make sure to have a simple but good business plan, know how to start, where to start, and what you want in the short term to eventually materialize into your the long term investment goals. The more thought out and executable your plan is the more easily you will be able to attract moneylenders, partners or other investors.
Foreclosure Broker News
Re/Max broker-team leader makes great strides in seven years as Realtor - Charleston Post Courier
Re/Max broker-team leader makes great strides in seven years as Realtor Charleston Post Courier Richart (pronounced like “Richard”) specializes in Real Estate Owned (REO) properties, banking parlance for homes taken over by the lender after a foreclosure. While home values can be underwhelming — she's dealing with one case where the residence is ... |
St. Louis metro foreclosures 28 percent higher in April 2012 - KSDK
 KSDK | St. Louis metro foreclosures 28 percent higher in April 2012 KSDK ... 659 homes in foreclosure St. Louis County: 1 in every 594 homes in foreclosure (highest in region) St. Clair County, IL: 1 in every 836 homes in foreclosure Debi Kiper is a Real-estate broker with RE/MAX who specializes in selling distressed homes. Foreclosures in Manatee tumble to six-year low Prospects for housing market get brighter in Shasta County; foreclosures fall ... |
Flagler County foreclosure rate worst in Florida - Daytona Beach News-Journal
Flagler County foreclosure rate worst in Florida Daytona Beach News-Journal There were 152 last month compared to just 24 in February, when the county's activity rate was worst in the state with one out of every 156 homes in some stage of foreclosure. Jimmy Milhollin, a residential broker with RE/MAX Flagstaff in Palm Coast, ... |
Southwest Florida foreclosures increasing as refiling picks up - Sarasota Herald-Tribune
Southwest Florida foreclosures increasing as refiling picks up Sarasota Herald-Tribune Key Realty broker Adam Robinson, in Sarasota, also said the rise in lis pendens filings does not mean more foreclosures will result. "A lot of it has to do with the robo-signing," Robinson said, referring to the law firms that submitted faulty material ... |
Brokerage wants Cape Coral to pay its fee - Lehigh Acres News Star
Brokerage wants Cape Coral to pay its fee Lehigh Acres News Star A commercial real estate brokerage is continuing to seek a commission for assisting in Cape Coral's purchase of 652 acres of foreclosed property last month. Boback Commercial Group sent a letter to the city on Monday requesting a commission of 6 to 10 ... |