Ready to do your next short sale?
Mark Walters has a good vid with lots of advice on how to negotiate with the bank.
He talks about how to convince the bank you need to get a lower price for that property.
A lot of this is good common sense such as point out to the bank that you live in the area and you are familiar with the area. That will help a lot, according to Mark. Why? It proves you have done your homework. Another word for that is due diligence. Banks are impressed with that whether they'll admit it or not.
How To Deal With A Bank's Short Sale Negotiator
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A foreclosure is not just a foreclosure. Here is a well defined list of 8 different types of foreclosures in Texas, but they can give you a general idea of what you may be coming across as you do some deals.
(Remember each state is different and these definitions are not legal advice.)
Types of Foreclosure in Texas by Business Making Money
Here's another interesting foreclosure market article about a recent Zillow study and what they discovered concerning how foreclosures affect the general market. It also lists the city with the best foreclosure "bargains"
Foreclosure Home Prices 28% Lower, Form 'Distinct Market …
However cheap foreclosures may be, it is advisable for one to be careful while choosing on a home. Among the many foreclosure homes, a bank owned foreclosure is the most secure property one can invest in fearing no risks. …
Foreclosure Connections Blog Articles And Foreclosure Information …
How To Buy A Lender REO Foreclosure
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What are some excellent tips for getting real estate leads during these times.
We found a very good article that says leads are everything.
Know what? That's absolutely right.
Here's some more advice by the author, Duncan Wierman.
Look for properties that have had a "for rent sign" up longer than one month. Think there's a landlord or owner who would dearly love to get rid of that property?
Yep, maybe.
As a landlord/investor, I can say that's certainly true. Not all of your properties are going to be winners. If you have a chance to get the money out of one and put it into something else you probably will. There's nothing wrong with that as long as you keep tabs of all the costs.
Read Tips for getting real estate leads
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Zillow and Trulia are adding rental listings on their websites.
Zillow's launch was last month with 2000 properties for rent. Make that 2001. I just put up one of our townhouse duplexes yesterday. We'll be watching to see how it does.
So far, I have only received one email and that was from myself, so I think that is because of a special check they have built into the system to make sure your email address is correct.
What about the rental market? Continue Reading »
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The Manhattan Rental Market Review is in and we picked it up on the Matrix blog.
This is interesting because it shows the average rental price $3789, average price per square foot, $47.02 and average days on the market, 76.
Rental prices in Manhattan have fallen a little over the last year but are showing signs of stability, so we are being told.
This report as prepared by Miller Samuel Inc considers only 76 days with a vacant unit good news as compared to 97 days during the same period last year.
Could the New York City Manhattan market be a sign of what we can expect in the provinces? Continue Reading »
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