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Showing Your Home While Keeping Your Privacy In Tact

Showing Your Home While Keeping Your Privacy In Tact

Make no mistake about it, home buyers will open nearly every closet and cabinet within your home. In fact, you want to encourage buyers to move and touch things within your home, but you should also learn how to keep your private information hidden during an open house.

Any part of your home that will remain after the sale, is open for investigation. This means that built in cabinet drawers; dining room china cabinets (that will be sold with the house); and bathroom medicine cabinets are all beckoning buyers to snoop around. Well, technically, they aren’t snooping if they simply want to see how large a piece of furniture is, but you should still avoid leaving things such as comparative market analyses laying inside of a drawer. In fact, you should keep all personal information fairly well hidden at all times.

Never leave opened mail strewn throughout your house. Just imagine what sort of offer a buyer might propose if they see a stack of credit card bills awaiting payment. Buyers may also note letters from the IRS; mortgage payment notices; or anything else that may put you in a compromising position.

While most home owners leave mail stacked on the kitchen counter, place your mail safely inside of a desk drawer, and make sure that the drawer cannot be opened. When it comes to other personal items, make sure that you disguise them as well.

Believe it or not, a diploma or wedding photograph should not be kept on the wall. Why? Well, certain buyers will apply instant biases depending upon what sort of information they find. For example, if you leave a law degree plastered on the wall, some buyers may immediately feel as though a lawyer cannot be trusted. In the same manner, if a buyer sees a recent wedding photograph, they may start to form an opinion about the type of religion that you practice. It is best to keep all personal items (even books and music) out of sight. Also, keep your closets tidy and in tact.

You may think that leaving certain clothing items hanging in your closet is not a bad idea, but make sure that the items do not say anything too personal about you. While most home owners do not think about personal items, do yourself a favor and clear out your home prior to any open house.

Make sure all personal details are hidden, and make sure that your home does not tell anyone all about your life.

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The Right Remortgage Deals – How to Decide

The Right Remortgage Deals – How to Decide

Following the decision to remortgage your home, choosing the right remortgage deal is the most important decision you have to make. To ensure that your deal offers you the greatest benefits, it’s important to make sure the deal is the most compatible for your unique financial circumstances. Remember to talk with market professionals in order to get the best advice. Until then, however, here are some basic features that may be available when choosing your best loan option.

One important thing to remember is that deals revolve around the lender’s SVR, or Standard Variable Rate. Whether you’re paying the SVR or not, most loans and their interest rates relate to it. A common deal called a discount mortgage is a good example.. The benefit of the discount mortgage is that it offers a reduction on the SVR. If the rate changes, the amount you pay changes automatically to reflect that. The discount benefit of this type of home loan relies heavily on the length of the deal.. The shorter the period of the discount, the greater the discount.

The tracker mortgage is a comparable loan offer. If you have this type loan, you know for certain that your interest rates are in line with bank base rates. The benefit of this type is that even if there is a delay in reducing the lender’s SVR to reflect cuts in base rates, cuts are automatically applied to your loan’s interest rate. You see immediate change and your payments reflect the new, cheap rates instead of having to pay at an old rate while waiting for changes to kick in. Many tracker mortgages also offer fairly flexible terms that might be very appealing.

A flexible mortgage allows you to vary payments from month to month to reflect any changes in your finances. The options are to over- or under-pay, re-pay lump sums or take advantage of a payment “holiday” and pay for another major expense instead. It may be possible to take advantage of more than one of these offers instead of having to choose only one. The best feature of these incentives is that generally there are lower or no fees associated. These types of benefits are dependent on certain conditions, such as being in good standing on current payments or exceeding the terms of your payment schedule.

When you research and compare remortgage options, you may be surprised to find that more than one deal could benefit you. You can choose a plan for its cheap interest rate or for the absence of fees; it doesn’t matter because there are multiple options for your unique desires. If it’s not working for you, you don’t have to be locked into a mortgage plan.

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Due Diligence For Real Estate Investors

Due Diligence For Real Estate Investors

Protect yourself and your investment by doing some things that could pay off big down the road when you are looking for the right properties to buy.

Real estate investors must be very careful and knowledgeable in order to protect their financial investment and get the best deal possible. Savvy buyers, no matter what they are buying have a set of shopping rules when making a purchase…the best price possible…haggle…inspect carefully (buyer beware)…best quality you can afford…so why not do the same for a really big purchase like real estate you buy as an investment?

It starts with picking your target location. What do you need in a target area where you want to invest? If you are investing in single-family homes or apartments, you might look for the best possible schools along with convenient shopping. A professional might want office space. An entrepreneur might want a store space and living space in one where lots of shoppers gather. Narrow down your needs and desires. Then decide what area fulfills your list of needs and wants and start deciding what you can afford.

Some commercial ventures may not be location sensitive. You might find something cheaper further out, but still in the path of development and changing zones from rural or residential to commercial. Or you might find a good location that’s improving from previously depressed values. If you can see the improvement coming it could be a great decision.

Then get your financing in order and pre-approved before you narrow down your target properties. No Realtor will take you seriously if you don’t take this step. We all have to be realistic about what we can afford.

A good Realtor will listen to you. If they show you a lot of properties that don’t seem like good matches, you may need to consider changing to someone who listens better.

When you have found a property that seems to fit your needs, make the Realtor prove value. Ask to see a market analysis of properties VERY close by that have sold and closed in the last 60 days. You may find that the property you’re buying is significantly over or under priced. This data is available from “Multi-list” or at the local tax office.

Study selling prices in your target area to make sure you know enough about prices, especially if you want a fixer upper. Fixers need to sell low enough to justify the cash you plan to invest in remodeling. Any good appraiser will tell you asking prices are often very different from selling prices. Don’t believe everything you hear. Get the facts.

When you feel like the time is right, make an offer contingent on an inspection and obtaining financing. Inspections can cover a number of issues that could cost you money, like pest infestations, environmental issues, and broken stuff. Do them all. With this data in hand you can go back to the seller and HAGGLE big time. Try to get the seller to lower the price, not make the repairs. Any work the seller does at this point WILL be quick and dirty. If a structure is in pretty bad condition you can make a really low offer, one that would justify the amount of work you have to do. It might be accepted. You never know. And you might find something that would make you pass on the property. If you have the right contingency contract you only pay for the inspections.

If you make a deal be sure and get a title search and title insurance, preferably the day of closing. This is especially important if you are to have a clean title free of workman’s liens, tax liens or other debts that you would have to repay in order to have a property you could resell. It’s the single most important thing that happens to protect the investment you make that many buyers don’t see a need to pay for. It is worth it.

Another thing that’s worth the money you spend on it is a survey. You need to know if there is any encroachment or easement on your property. Many of these things could involve expenses for you. A municipality might expect you to accept liability for water damage to other owners below your property. You don’t want this kind of problem. Know these things ahead of time.

The point is you have to really study hard and go in armed with knowledge. A real estate purchase may be the biggest investment people ever make in their lives or businesses. In the current real estate market, capable buyers have an advantage. Maximize your advantage by being well educated. Knowledge really is power.

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Ways to Sell Your Mortgage Notes

If you want to sell your mortgage note click here for a free quote. We buy mortgage notes!

It happens to many Americans, that when they sell their house they still carry a mortgage.  Each and every year, the same question is asked ” How can I sell my mortgage note and get the cash I need?”  If you are the holder of mortgage notes for sale, this information may be of assistance.

Annually, millions of real estate transaction are done without the involvement of a real estate agent or bank.  Often a home owner can make a lot more money, when he decides to do the financing himself.  Properties that are normally discounted under normal conditions and properties that are under standard, can now fetch top dollar in the market.  But when they do the financing, they sell to people that either don’t want to or can’t get bank financing.

Completing this step, makes a real estate note.  The new home owner makes the monthly payments to the person that has the cash flow note, so the seller becomes the bank.

The seller may want to cash out the real estate note after a certain amount of time if he so decides depending on his circumstances.  Now when you have a cash flow note for sale you have a couple of options.  You don”t have to sell the whole real estate note. You can just sell part of it to raise the cash you need.

A dependable private real estate investor with cash to purchase your real estate note is needed in order to sell real estate notes.  The key to finding the value of your mortgage note lies in finding an investor who can determine its worth.

Those who buy notes professionally won’t charge you for speaking about your cash flow note, especially if this first discussion takes place over the phone.  But you will find out a lot about how to cash out a real estate note.

Always keep in mind that the note buyers have to buy the notes at a discounted price and that too it should be large enough to cover the inflation and the risk.   The real advantage to you of a transaction like this is that you recieve the money immediately.

Discovering the value of your real estate note is fairly simple, and private real estate investors compete for mortgage notes for sale, so peruse real estate investors’ websites if your finances require it.  Ask them for information on how to cash out that real estate note you have.  We often have a tendency to make things harder than they actually are, just because we lack certain knowledge or do not feel like asking questions.  Availability of internet has made the knowledge conveniently accessible in today’’s world.

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More Borrowers Quitting Obama Mortgage Program

It seems that borrowers are not satisfied with the efforts of the government to help homeowners who are on the verge of losing their homes. Reports said more than a third of the 1.24 million borrowers who have enrolled in the Obama administration’s mortgage modification program have dropped out.
Data showed that a total of 436,000 people have dropped out of the $75-billion program since it was launched in March 2009. In May alone, some 155,000 people stopped trying to get loan modifications. The number of borrowers, who have received permanent loan modifications, meanwhile, stood at 340,000.

According to market analysts, the program did little to ease the plight of borrowers. “The foreclosure-prevention program has had minimal impact. It’s sad that they didn’t put the same amount of resources into helping families avoid foreclosure as they did helping banks,” National Community Reinvestment Coalition chief executive officer John Taylor said.

One of the reasons blamed for the high turnaround rate is the documentation of income required for homeowners who want to get loan modifications. To apply for the program, a borrower should submit two recent pay stubs to banks at the start of the process. Because of the new application procedures, the number of borrowers wanting to get loan modifications declined dramatically. According to reports, around 30,000 homeowners started the program in May, down from more than 100,000 people who signed up each month starting last summer.

Industry experts believe that the country’s problems with foreclosed properties could worsen if more people are going to exit the program. They also warned that it could further weaken the housing market and impede with the economic recovery.

Seller financing aids the seller and buyer

Seller financing is one field of the real estate industry that aids more than the house purchaser and the individual house seller. Home mortgages held by sellers are likely customers for investors that purchase seller financed home mortgages. For many people outside the real estate industry, this little observed market is large business for many. In order to understand how this market works, we have to recognize both sides of the business of owner will carry financing.
In a down market such as we are experiencing now, credit freezes up and conventional lenders inside the mortgage industry approve very few new mortgages unless the candidate has higher than average credit. For those people with less-than great credit, acquiring a loan thorough traditional channels is non-existent. Fortunately for these people, there is a large quantity of houses on the market with sellers willing to unload.
Some of these sellers are ready to offer what is called owner will carry financing which means they will operate as the lending institution. Rather than having to pay a credit business each month the customer will pay his monthly mortgage to the home seller. When financial times are good and lending institutions are offering creditowner carry financing is at a low. More people can obtain credit thorough conventional means.
The seller will carry the note until the note is paid or he sells the cash note to someone else, in this case a mortgage investor. Mortgage note investors are people that specialise in buying and selling money transactions. Notes come in many different varieties. Just about any transaction where a agreement is signed and a repayment plan is the mode of repayment, can be bought and sold.
Seller financed notes are the most widely recognized with the mortgage industry as they are real estate based. The market is built easily enough as sellers many times desire to free up the cash they have tied up in the cash note they are holding on the property. The seller may need the capital for any amount of reasons. He may want to make further investments with superior returns. Crisis conditions might have come up that force him to liquidate his holding. Children might need to go to university. The motives are endless.
Whatever the case may be, there are loads of investors eager to acquire these seller held mortgages. These investors purchase these money transactions largely for investment motives growing their portfolios. Though, income streams are the major purpose. By getting just a few notes the investor can generate a significant monthly income stream that will continue until the contracts are fulfilled or sold to another person.
In come instances, these mortgage notes are defaulted on at which time the investor forecloses on the house, keeps all the funds he has collected on past repayments then sells the property to another buyer. Seller financing aids many individuals involved in a real estate transaction. Individuals that can not acquire a mortgage through established means, single sellers as well as those investors within the notes industry.
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Government offers Home Affordable Modification Program

New alternatives to foreclosure unveiled
Government offers Home Affordable Modification Program

Homeowners who can't afford their mortgage payments may want to take a look at the federal government's new alternative to foreclosure: the Home Affordable Foreclosure Alternative program, or HAFA, which intended to encourage lenders to facilitate short sales and deeds-in-lieu, or DIL, as alternatives to foreclosure.

The program, which is a part of the Home Affordable Modification Program, or HAMP, may help some homeowners escape a bad situation, but the rules are complicated and they won't be able to keep their homes.

U.S. Treasury Assistant Secretary Herbert Allison explained the concept in congressional testimony.

"HAMP does not, nor was it ever intended to, address every delinquent loan," he said. "In these instances, the borrower may benefit from an alternative that helps the borrower transition to more affordable housing and avoid the substantial costs of foreclosure."

Here are some details from the government's 43-page directive for loan servicers:

A short sale allows the homeowner to sell the home and use the proceeds to satisfy the first mortgage even if the sale price is less than the loan balance.

A DIL allows the homeowner to voluntarily give up the home to satisfy the first mortgage even if the home is worth less than the loan balance.

The homeowner can get pre-approval for a short sale at a specific minimum price or net proceeds before the home is put on the market.

The homeowner can receive $1,500 for relocation expenses at closing. This sum may be reported to the Internal Revenue Service as income.

The home must be the homeowners principal residence.

The mortgage must be delinquent, or default must be reasonably foreseeable.

The unpaid loan balance must be less than $729,750 for a single house or condominium. Higher limits are allowed for two- to four-unit residential properties.

The homeowners monthly mortgage payment must be more than 31 percent of his or her gross income.

The homeowner must transfer clear title. The lender will allow up to three percent of each second loan or lien, up to $3,000 in total, to help the homeowner satisfy these obligations.

The government's directive excludes loans that are owned or guaranteed by Fannie Mae or Freddie Mac. However, the two government-run mortgage corporations are expected to release their own guidelines.

Homeowners can use the Loan Look Up Tool on the Making Home Affordable Web site to find out whether they have a Fannie Mae or Freddie Mac loan.

The lender cannot require a cash contribution or promissory note, cannot pursue a deficiency judgment and must release the homeowner from all future liability for the debt.

The loan servicer can use the financial information and hardship letter that the homeowner submitted for a loan modification, or request updated information to evaluate the homeowners eligibility.

The loan servicer must assess the current value of the home. If the short sale or DIL isn't completed, the servicer can add the cost of this assessment (e.g., an appraisal) to the loan balance.

The homeowner must sign a Short Sale Agreement or DIL Agreement on or before Dec. 31, 2012.

The home must be listed for sale with a licensed local-area real estate professional. (This requirement doesn't apply to DIL.)

The homeowner must cooperate with the real estate professionals efforts to sell the home and maintain the interior and exterior of the home.

The servicer and homeowner must meet a number of time frames.

The lender may require the homeowner to make full or partial payments on the mortgage, up to 31 percent of the homeowners income, subject to the lender's written policies.

The homeowner cannot have a close business or personal relationship with the real estate agent or buyer and cannot have an expectation of buying back or renting the home after the short sale or DIL closes.

The lender can initiate or continue, but not complete a foreclosure sale while the homeowner is involved in the program.

Homeowners should discuss the income tax consequences of debt forgiveness with a qualified tax professional.

The servicer will report the short sale or DIL to the credit bureaus. That will hurt the homeowners credit score, although not as severely as a foreclosure.

The buyer in a short sale can't resell the home within 90 days of the purchase.

The program launched April 5 and is scheduled to sunset on Dec. 31, 2012. Servicers may elect to implement the program sooner than the official effective date.

Homeowners are encouraged to contact their loan servicers to find out whether they are eligible for the program or call the HOPE hot line at (888) 995-4673 to speak to a government-certified mortgage counselor. More than 100 servicers have signed up for the program.

These servicers are required to participate and write their own policies subject to investor guidelines.

Going up

Mortgage rates jumped for the second straight week.

The average 30-year fixed-rate mortgage rose 12 basis points, to 5.35 percent. A basis point is one-hundredth of a percentage point. Rates have risen 24 basis points in two weeks and are now at their highest point since Nov. 4, 2009.

Meanwhile, this week's average 15-year fixed-rate — a popular option for refinancing — leapt 16 basis points, to 4.69 percent.

The average jumbo 30-year fixed rose 6 basis points, to 5.98 percent.

Adjustable-rate mortgages split this week. The one-year adjustable-rate mortgage remained unchanged, at 4.74 percent. Meanwhile, the popular 5/1 ARM rose 4 basis points, to 4.55 percent.



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Help Sell Your Home Faster

1. Get a home inspection before you sell. It is always better to be proactive and know what if anything is wrong with your home before a buyer does. They will ask you to drastically reduce your asking price.

2. Clean clutter. Nothing turns off a buyer like junk and clutter.

3. Ask 10% lower price than the property is worth. This will bring more buyers and the price will get bid up.

4. Get light into the home. Clean windows and get rid of dark drapes. Nothing sell better than natural light, it makes your rooms look bigger.

5. You do not need to bake cookies. Place a few drops of vanilla on a warm oven door will produce the same results.

6. Replace a worn mailbox. This will enhance the curb appeal.

Please feel free to post your tips.
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Tips on Selling Your Property

When it comes to selling real estate, one of the most difficult and
frustrating situations for sellers is when market conditions make it
nearly impossible to sell at the desired price point. A high initial
listing price might be because the seller simply has an unrealistic
idea of how their house stacks up against the competition in the area,
or because the owner needs to sell for a set minimum price in order to
pay off their loan against the property.

With traditional property sales methods, the only way to prevent the
property from sitting on the market indefinitely is to keep dropping
the price. Unfortunately, this technique doesn't always work -
especially if the seller is unwilling to "discount" their house by
much.

In areas flooded with homes for sale, reducing the asking price
slightly will not bring the desired result. In fact, it's common that
the property will continue to sit on the market without offers,
alongside the multitude of other unsold properties with similarly
reduced prices.

Anyone experienced in sales understands that making your product stand
out from the crowd is a critical technique for success. But if there's
too much competition offering the same attributes, the only logical
way to attract the attention of serious buyers is to drop the price so
that your property is a much better value than the competition.

In cases where the seller is too inflexible with their asking price,
this is not a practical solution. Without an alternative strategy, the
seller is forced to keep the house on the market for an extended
period of time with an unrealistic asking price, hoping for the right
buyer to come along. And as you know, that "Mr./Mrs. Right" might
NEVER materialize!

The Seller Finance Solution

Property sellers who want to both obtain their desired price and close
on the deal quickly should consider seller financing. Seller financing
is a powerful tool to remedy real estate situations that otherwise
look grim.

Many home sellers (and their real estate agents) do not see seller
financing as a viable option. In actuality, seller financing can bring
new attention to the listing and invite a different group of potential
buyers - thereby opening up a unique, untapped market.

A large percentage of people throughout the country cannot get
approved for bank funding to buy real estate because of their credit
situation. Many of these people are still in the market to buy a
house, however. The "credit-challenged" are often frustrated with the
limitations of apartment living or being renters; as a result, many
are willing to pay a higher price just for a chance to get seller
financing and improve their quality of life.

A savvy property seller who recognizes this opportunity can salvage an
unfavorable situation and turn it into a bonafide seller's market. By
using this type of creative financing, the seller could actually end
up getting more than the original asking price - without resorting to
the questionable strategy of patiently waiting for the "right buyer".

Seller finance can enable homeowners to receive a favorable selling
price despite bad market conditions. In addition, the real estate
agent (if any) gets to close a deal and move on to other sales, while
a home buyer with poor credit is able to become a home owner. It's one
of those rare situations where everyone at the negotiating table gets
what they want.

Paper Tigers

Many home sellers never consider seller financing because they don't
understand the benefits. There are also common misconceptions that
it's much too complicated to attempt to orchestrate a seller financed
deal, or that there are no buyers willing to sign a private note.

Once a property seller takes the time to learn about the basic
process, the advantages of offering financing instead of a lower price
to sell their property become very clear. Plus, a little education
about seller finance will make it apparent that drafting a secured
private note is actually a very straightforward process.

The bottom line is seller financing can enable a home owner to "have
their cake and eat it too" - i.e., sell at the desired price, close
the deal quickly, and even receive additional income from interest
payments as well.

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* It's Quick: Learn how to cash out in minutes
* It's Easy: You could have cash in just days
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There has never been an easier or faster way to cash out of your investment. Whether you need money to pay bills... to buy a home... to fund an education... or even if you just need some spending cash... We'll show you the money!
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Selling A Home In A Tough Market

In previous issues, the best method for selling a home in a tough
market with seller financing was explained. The benefits to the seller
from involving a qualified cash flow finder with a seller financed
deal and having a note buyer "on board" before the note is created
were also covered. While using seller finance techniques to sell a
property are no more difficult than a traditional real estate closing,
following a logical and proven plan is the best method for ensuring a
successful real estate sale with seller financing.

The sellers' misconception

Many property sellers stay away from seller financing because they
mistakenly believe that creating a note is not a viable solution for
selling their home. After all, if they can't walk away with enough
cash to provide the down payment on another property, they'll be
powerless to replace the property they're selling.

As a consequence of this common misunderstanding, many sellers feel
compelled to stick with conventional real estate methods, limiting
their options and missing out on the benefits that seller financing
could offer them.

In actuality, many notes created through seller financing are quickly
sold and the seller ends up with the cash they need. Even better, if
the note is created with buyers' purchasing criteria in mind, the
seller could walk away from the closing table with cash in hand. This
means that the net result is almost exactly the same as with a
conventional real estate sale!

In the cases where the note holder does have a problem selling their
monthly payments, the difficulty in liquidating the note is typically
a result of one general problem: the note was not created with the
buyer in mind. Instead, it was created with only the payer in mind. To
ensure that a newly-created note will be attractive to potential
buyers, it is important to recognize that their purchasing criteria
are important as well.

Too good of a deal

For property sellers looking to sell their note immediately, it would
be a grave mistake to create the note by prioritizing only the payer's
demands. A buyer must have a compelling reason to agree to collect
payments in order to buy a note, such as a substantial down payment, a
respectable payer's credit score (to minimize risk), a competitive
interest rate, or a fairly short term.

An example of a "bad note" from a buyer's point of view would be a
seller financing situation where no down payment was collected, the
payer's credit score was not checked, and the interest rate is fixed
at 3%. Basically, this is TOO good of a deal! Even payers that qualify
for loans from traditional lending institutions would jump at this
offer with no out-of-pocket money required and a rate below prime.

Clearly, the note payer and note buyer are looking for very different
things. Payers would love a "no money down" purchase with financing at
a low interest rate, but most buyers wouldn't want anything to do with
this sort of note simply because it is a bad deal for them.

In a situation without a reasonable down payment there is nothing
holding the payer to their obligation. After all, a payer involved in
a "no money down" purchase could walk away and lose almost nothing
financially. Abandoning their obligation to pay may hurt their credit
score, but it was their substandard credit that forced them into a
seller-financing situation in the first place.

When there is no equity in the property (buyers will use the lower of
the property value or the sales price to calculate equity), all offers
to purchase the secured note will be discounted substantially in order
to compensate for the buyer's risk of default. A heavily discounted
buyout offer often means the seller will not be able to get the money
they need.

If the seller of a private note needs a large amount of cash
immediately, they must be able to sell the note as soon as it has been
created. And to quickly find a buyer, the note must meet the general
buying parameters of these people, which include a solid down payment,
a decent interest rate, and typical terms.

Creating notes that can be sold

Every buyer has their own criteria that determine what they will or
won't buy, but a down payment of at least 10% is a good minimum figure
when creating a note. This upfront payment immediately creates equity
in the property which acts as the buyer's safety net in a foreclosure.
A competitive interest rate is important because it will make it easy
for the buyer to purchase the note and yield the desired profit
without much of a discount to the note holder. Finally, keep in mind
that people typically avoid notes that do not follow a traditional
term (amortized over 120 months, 180 months, etc). A two-year,
interest-only balloon term is a perfect example of a note that most
buyers would avoid.

The points described above are only a rudimentary starting point for
note creation; there are certainly other things that buyers look for
when considering a note. It is always a good idea for the seller to
contact a qualified note finder in order to get the specific
information they need.

The finder will be able to utilize their experience in working with
buyers to give the seller general guidelines about what should meet
most buyers' parameters. Of course, there are no absolute guarantees
of a quick sale, but when the seller creates a note with the buyer.s
needs in mind, it should not be a problem to locate an interested
buyer who will give the seller the cash settlement they need.

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Secrets to Selling Your Property

I'm sure that you've heard the old saying that there are three things that sell a home, "Location, Location, Location." I'm going to let you in on another little secret. It AIN'T SO! Sure, location is a prime factor in the saleability of your house, but even a bad location can be overcome. The following 3 things are the Real secrets to getting your property sold.

PRICE

The price of the property is the single most important aspect of getting your home sold. If the home is priced correctly for the area, the market and it's condition, then it will sell. It's as simple as that. What makes pricing difficult to do correctly is that several factors make it hard to determine sometimes what a person would be willing to pay. For example, you may have a nice 3 bedroom, 2 bath home that compares to others in a nearby neighborhood suggesting a price of, let's say, a $150,000. However, you happen to live on an old side road, next to the newly built county landfill. That's going to affect value, without a doubt, but determining that effect is difficult to do in some cases.

MARKETING

If you have a great house worth $150,000 and you want to sell it for only a $100,000, you'd think that people would be climbing the fences trying to get at it. But, if you don't let anybody know that you're wanting to sell, how will they know about the great house with the even better price? You cannot be a "Secret Seller," especially in a a slow market, like the one were in now. Running ads is a great start to marketing, but there is really more to it than that. Slapping an ad everywhere you can think of is good, but target marketing is MUCH better.

Putting the ads in the correct places where they will get the most exposure is better than the 'spray n pray' method of throwing them out everywhere. The BEST marketing, though, is putting the RIGHT ad in the best locations. Anybody can put a "House 4 Sell. Call XXX-XXX-XXXX." You need to put together a marketing plan with several good ad layouts.

TIME

Time is the final factor in getting a house sold. How much time are you willing to wait in order to sell your home? A property will eventually sell for any price you want...if you're willing to wait on the market to "catch up" to what you're asking for the property. If you have something that could sell for $150,000 today, but you want a cool $1 million for it, you can eventually get. No Really! Of course, you may have to wait 100 years or more, but you CAN eventually get that price.

But if time is a real issue for you, then it's a factor in selling, too. If comps for your house so a reasonable selling price of $150-160,000, with an average time on market of 6 months, then you can expect (assuming that you're marketing!) to sell in that range in the given time, more or less. If you price it at the top end of the range, it will likely take longer to sell, while pricing at the low range, less time to sell.

Again, if you're willing to wait it out and see, price a bit high may work, but if you need to be moving NOW, then you'd want to price it on the low side, or maybe even lower, in order to get the quickest sale possible.

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Mortgage Notes Trust Deeds and how to get a home loan with bad credit

Do you know why getting a loan with bad credit can be so difficult? The main reason is that most banks believe that if you default on your loans or credit card payments once you will do so again in the future. Not keeping up with your payments will damage your credit. However a lot of people have bad credit because of some circumstances outside their control where they had a choice of making their credit card payments for example or feeding their kids.

We all get into financial difficulties leading to a bad credit rating at some time in our lives. This happens for many reasons ranging from unemployment, divorce, serious illness or the death of a spouse. These are just a few of the many reasons why a persons credit score may be low for a short period of time in their lives.

Now at the present time there are a lot of people experiencing financial difficulties due to the economic downturn. They may need a loan to tide them over until the economy improves and jobs become available again. So how do you go about getting a loan with bad credit? It may not be as difficult as you think.

There are many sites online offering loans to people with bad credit. You may be looking to pay medical bills, replace your car or pay school fees. If so then are many bad credit loan resources available to you online. Or you may be looking to consolidate your debts which are also available through online lenders.

Now because there are so many people with bad credit who need finance and deserve a second chance, there are many financial institutions creating programs for people with poor credit. This gives them a chance to get the finance they need and rebuild their credit rating.

One way you can get the loan you need is to apply for a secured loan if you can provide some collateral. There are many lenders and especially credit unions that will offer secured loan with poor credit. These loans are usually secured by you home or some other real estate or collateral you may have available. This is also a good option if you are just looking to do is rebuild your credit score.

However if getting a loan with bad credit is the only option available to you, a secured loan is your best bet. If you have collateral it should be relatively easy to qualify. So getting bad credit loan is not impossible, you just need to your research and apply to the best programs that are available to you.

Mortgage Notes or Trust Deeds are one option. Email us for more information.

Why Investing Near Universities is Your Best Bet!

I've always been bullish on real estate for long term investment, portfolios, retirement. But the real estate I love the most was where I first started buying, next to a big, growing, sprawling university.

I still believe these areas are what I call "Real Estate to Die For." Universities, colleges and schools of higher learning are all pillars in our communities. They are here in perpetuity, during our lifetimes, our children's and their children's lifetimes. They contribute greatly to the local economies, and hopefully, will grow in size as more Americans and foreign students want to be educated.

Look in areas within a short distance to the school of your choice. The closer the proximity, the less time it takes for your tenants to get to school. They can stay at school longer, too, without having to be pressured to leave campus and have a long commute home.

There are tons of opportunities to rent to students and many colleges have off-campus housing offices to help students find landlords and vice versa. Make sure you get parents co-signed on the lease, even if you need a local attorney to draw up paperwork for you. It might cost a little at the beginning, but will more than pay off if there's a problem with collecting rents down the road.

What's the difference between a student to living in the college-owned dormitory or your off-campus housing? Lots of differences. First of all, students prefer the privacy of living in their own room/space and not having to share a room with another student or two! They are adults for the first time in their lives and the last thing they want is the loss of privacy that comes with sharing a dorm room. Next, they are much more independent out of the dormitory, sharing a condo or town home with another student or more.

Properties do not have to be hi-end or include crazy upgrades. It's enough that they are clean, spacious, comfortable and near school.

We can help you finance your property if you have a mortgage note or trust deed to sell.  email for more information.

Technorati Tags: bankruptcy, fsbo, mortgage notes, trust deeds, mortgage note brokers, mortgage loans, refinance, deed of trust, mortgage note buyers, trust deed buyer, debt consolidation, home loans, divorce

Should You Sell Your Property as a For Sale By Owner?

Thousands of homeowners ponder the question of whether or not to sell privately. This is a question that gets a lot of attention on the internet, and also spawns an enormous amount of erroneous information. Many people want to sell their own properties, but are afraid of "hidden" problems that may rise up to cost them money, or cause them grief. Fear is the number one reason that people are willing to pay a Realtor to sell their home. Unfortunately, this fear is often unfounded, and all too often promoted by someone with a vested interest in taking your money to sell your property.

For some time now, many articles that pretend to promote selling privately, while in actual fact, they are designed to discourage you from taking on this task.

Obviously, such articles do not come right out and say "Hey don't do it!", but instead they tell you all of the seemingly bad stuff that "could" happen if you dare try it. They paint such a grim picture of selling privately while "encouraging" the reader, that nobody would try it if they chose to follow the advice of such articles.

This article will cover, albeit briefly, the reasons that many people should, or should not sell on their own. I will try to dispel the immense amount of misinformation on the subject of selling privately, and in the end, hopefully, you'll be in a better position to choose for yourself whether or not to sell privately.

In my opinion, selling privately is not for everyone, but most people can do it easily enough, and succeed.

First some basics. You've probably heard the term FSBO. This acronym to describe the term For Sale By Owner.

First question. Do you need a license to sell privately? To the best of my knowledge, no license is required in any American state or Canadian province in order to sell property privately. In fact, your right to sell privately is protected by law.  I will suggest that you check with your lawyer.

I am not a lawyer and therefore cannot give you legal advice.  So check with your lawyer before you do anything.

How much time will it take to sell my property? I am NOT going to try and tell you how long it will take for you to find a buyer who will transact a sale. I will talk about the time it takes to market a property on your own in order to give you a sense of what sort of time commitment you'll need to make to do it correctly. The answer, surprisingly, is very little time, about an hour or two a day at most. In fact, once you've taken the time to set up your sale, which is something I will talk about in another article, it will take little or no time at all, unless you're showing your property to a prospective buyer.

What is the general process of selling a property privately? In many ways it's exactly the same as selling with a real estate agent. Here is the process of selling a property, privately or not. First, the property is advertised to let the public know that it's available for sale. Prospective buyers inquire about the property, ask questions, and arrange a viewing appointment. The prospective buyers come and see the property, sometimes more than once. If they like the property, they make an offer in writing on a legal form. You (or your agent) and they (or their agent) negotiate the terms of the offer, the price, and closing date. Then once everyone has agreed, and all parties have signed the offer, everything goes to the lawyers so they can do their stuff to effectively convey title, and exchange monies etc..

It seems pretty straight forward, and usually it is. First you'll have to market the property, show it to prospective buyers, and negotiate the terms of the sales agreement. Once the agreement has been signed by both the Seller and the Buyer, then your lawyer will do the rest for you. Also, don't forget to get contact information for the Buyer's lawyer. Your lawyer may need this information to begin the process with the other attorney.

More articles will follow.  One thing to consider when selling FSBO is to provide financing for the prospective buyer.  You can become the bank and take back the mortgage.  You can provide financing with a mortgage note or trust deed for a short period of time, then sell the note for cash.

Please read the articles on our blog for more information.  Click here to email us with your questions.

Technorati Tags: bankruptcy, fsbo, mortgage notes, trust deeds, mortgage note brokers, mortgage loans, refinance, deed of trust, mortgage note buyers, trust deed buyer, debt consolidation, home loans, divorce

Consolidate Your Debts

Are you facing difficulties in paying back the loans
because you have two or more pending debts? If your answer is yes, then
debt management is the solution for you. It is a process which
reorganizes your debts to more affordable repayments terms. It clubs
your multiple high interest unsecured loans, into a single loan with
lower interest rate.

Various financial aid consultants are
deployed by the lenders, who negotiate with your creditors on your
behalf. An expert from financial institute selected by you meets your
creditors and makes an arrangement after which, you just need to pay
certain amount to the institution and not directly to creditor. The
amount paid by you includes fee waivers and discounts on debts owed by
you. This service is also open for bad credit history holders. After
the loan consolidation, you just have to make a single monthly payment,
which covers for all the loans which get consolidated.

You can
ask for quotes from various lenders if you want to get this service.
The quotes are provided free of cost and they enable you to explore the
difference between costs of debt management options provided by
different loan providers. This management is offered to you keeping in
mind, your financial situation and credit status.

With the help
of a proper research about the financial institutes offering this
service, you can certainly spot competitive interest rates. With the
help of this management, you will no more have to face harassment from
different lenders, as you will only be dealing with a single loan
provider.

In order to strike the suitable deal, you can switch to
the Internet. With the help of on line mode, you can come across various
financial institutions and lenders providing you with this management.
You can make comparisons between different terms and conditions offered
by different lenders and then select a suitable deal.

Debt
management helps you to settle your scattered debts and multiple
financial obligations. It is an affordable way to deal with your debt
problems.

If you are holding a mortgage note, you can sell a mortgage note and get cash now.

If you have a mortgage note you can sell your mortgage note for cash now. We have buyers that want to purchase your mortgage note. We can close in 2-3 weeks. Click here to email us for more information.

Technorati Tags: mortgage notes, trust deeds, real estate, financial planning, fsbo, divorce, get cash now, mobile home, bankruptcy

Bankruptcy or Foreclosure, Which Is The Best Option

In the past, "Foreclosure" and "Bankruptcy" were considered two of society's dirty words. Today these terms are viewed by many as relief from Financial Black holes that can not otherwise be escaped. In the current economy, inundated with bad mortgages, many of which stem from predatory lending practices, coupled with credit card debt spinning out of control, bankruptcy and the loss of ones home have become common place. For many homeowners, a decision needs to be made as to which of these terms is the lesser of two evils.

For homeowners whose debt has spun out of control, and whose income does not cover expenses, foreclosure and or bankruptcy are options that may be inevitable. However, which of these terms truly is the lesser of two evils?

Should a homeowner file for bankruptcy, they may be able to eliminate all of their credit card debt, medical bills, court ordered judgments and even electric and gas bills. With the assistance of a bankruptcy discharge, they may then be able to stay current on their mortgage. However, many people are even more concerned about their credit score. They may ask, "Will we be able to obtain future financing?"

Should a homeowner rather, opt for foreclosure, they will certainly loose their home, but do they really want to keep it in this market where the house may be worth far less then what is owed. If a homeowner opts to walk away from their house, they may own other investment property, and be able to live in a multi-family house, or they may simply want to rent and not deal with all the hassles of homeownership. "If something breaks, let someone else fix it, repair it, deal with this problem".

Neither option is an easy choice. A bankruptcy will remain on your credit for 10 years, while a foreclosure will only remain for 8 years, but many credit counselors report it has twice the negative impact on your credit score compared with a bankruptcy. It will be extremely difficult to obtain a new mortgage for many years after you have lost a home to foreclosure. Many homeowners may see foreclosure as a better option then simply obtaining the financial relief that the Bankruptcy Laws provide. What many do not realize is that a foreclosure may be even a darker mark on their credit then a bankruptcy. As a result, it may be even more difficult with a foreclosure on their record to obtain subsequent housing. Many mortgage lenders look at a foreclosure more seriously than they will a bankruptcy. As a result, a former homeowner may not qualify to rent the apartment or house they want, even though they may be able to afford it now that the mortgage obligation is gone.

One of the key factors to keep in mind is that when you file and receive a discharge of your debt in a bankruptcy, even if your credit score is lower, you are still a better candidate to receive future financing and in very short order. The reason is simple. After your bankruptcy discharge, you do not owe anything to anybody. Additionally, creditors realize that you can not file for a new bankruptcy for another eight (8) years, and as such can not walk away from any new debt that you may incur as a result of credit extended to you by a new creditor, be it landlord, credit card, or other financing option.

Now it should be pointed out that in many cases, you may be so far behind that a foreclosure is going to happen no matte what. If this is the case, it may be in your interest to file for bankruptcy right before the order. The reason is that if the bank sells the property for less then what is owed, the difference (commonly referred to as the deficiency) will be discharged. As a result, the bank will often sit on a foreclosure order for some time before they act upon it, so as to not loose more money. In the meantime, a homeowner can possibly short sell their house and move on with their life.

Based upon the foregoing, if you are facing a financial crisis that may end in either foreclosure or bankruptcy, consult an attorney to explore what your best option may be. The right decision may save you years of restricted credit in the future.

If you have a mortgage note you can sell your mortgage note for cash now. Click here to email us for more information.

Technorati Tags: mortgage notes, trust deeds, real estate, financial planning, fsbo, divorce, get cash now, mobile home, bankruptcy

Check Your Credit Score Before You Apply For A Mortgage

Bad credit or good credit, the process of obtaining a mortgage has changed. Even if you are simply trying to refinance your existing mortgage, you may be surprised at how different things are. Of course your credit score always played a significant role in determining what kind of loan you can apply for, but nobody could have predicted what you need in order to get a mortgage today.

in the past, banks were eager to lend money to people who were interested in buying a new home. They would barely look at your income and sell you loans that were more than you could afford - virtually regardless of your credit history. A credit score of around 680 points would have been considered good credit and allowed you to get preferred rates and the best plans.

Today, just a few months later, things have changed dramatically and it is nearly impossible to get a mortgage without excellent credit. The good news is that along with those changes, it has become increasingly easy to increase your credit score.

Before you try to get a new home loan, the very first step is to access your personal credit information to find out where you stand on the credit score scale. You can then use this information to remove the errors that are common to credit reports, quickly increase your score, and then get approved for the loan you need.

You can also think about owner financing with a mortgage note. Click here to contact us for more information.

Technorati Tags: mortgage notes, real estate, credit score, refinance, bankruptcy, financial planning, divorce, get cash now

More Selling your Property in a Difficult Market

The Spring 2009 Real Estate Season is peculiar. It is a buyer's market but with only a few buyers around.  Those that are looking, and able to buy, are fearful of making a mistake. Lots of mistakes: buying too high, buying a house that doesn't comp out, buying too soon, missing the bottom.

It is impossible to time the market. Money managers can't do it and neither can we in the real estate business. This is because we only know where the bottom is when it has passed when you're no longer in it!

So with such overwhelming pressure on the price, what options does a seller have to keep the value of his property in tact?

Here, in NJ real estate, when there is a large supply and fewer buyers, it is unwise to keep dropping the price. That simply creates a price war that no-one can win. Instead, understand that buyers will be comparing all the options in their price point as analytically as they can find tools. The strategy to shore up value is to focus on the beauty contest and offer tools of comparison that enables your property to stand out. Clearly and cleanly.

The Beauty Contest

Your home must look its best. All the stuff we know - freshly painted, neat and tidy, clean and in perfect condition. PLUS,

• Open spaces in each room. Buyers need a place to stand to see each room and then see room for them to move into.
• How does it work? If they were to buy this house, where would they eat, play, work, sleep, rest and relax, etc.
• Depersonalized. More than personal photos, certificates and trophies, put away anything that is completely specific to you the homeowner, as opposed to a wide group of buyers.
• Photos. The last and most important part of the beauty contest is the pictures. You must have beautiful photos of the inside and outside of your home, taken from the right angle, with the right lighting so that the house looks great...online! 85% of all home searches start online, and the more photos you show, the better your home stands out against the competition.

 Tools of Comparison

Buyers, with lots of choices, will compare and contrast options by price point, as carefully and analytically as they can. Make sure you offer them information to make the best comparison possible. The more information you can provide here, the more in control you are of the story being told to the buyer. information to have available, on hand, with the realtor's brochure, floor plan and comps is:-

• Illustrations of the home being located in a "Great Neighborhood "
• The Cost to Run the home
• Square Footage, amenities including # of closets, level lot, basement & extra spaces (include everything that could possibly be seen as a positive; you just don't know what's going to trigger the "must have it" impulse!)
• Ratio of Asking Price: Assessed Value
• Recent Sales in the Neighborhood  and feel free to offer a paragraph to each listing illustrating how you stack against each sale.

Do not forget to think about taking back the financing with a seller financed mortgage note.  Click here to visit our web site for more information or email us at info@smilingdogenterprises.comTechnorati Tags: mortgage notes, trust deeds, refinancing, get cash now, divorce, financial planning