What Will $1 Million Buy You?

What will $1 million dollars buy you across the country? Here’s a slideshow of properties.

What  will $1 million buy you across the country?

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Forbes has a slide show featuring properties across the nation which are selling for around $1 million.  Some of the cities are Phoenix, Nashville, San Francisco, New Orleans, and New York, or course.

I think what is interesting is how many days the properties have been on the market which is a good market gauge.

It is not surprising that your million dollars doesn’t buy you much in San Francisco for example.  When you compare that property to the one from Dallas,  it’s almost a no brainer.

Here’s  the list of $1 million properties

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Mortgage Fraud Crackdown: 1215 Fraudsters Caught So Far

Mortgage fraud crackdown captures over 1200 fraudsters. This is just the beginning according to Holder

A mortgage fraud crackdown has caught 1215 fraudsters.  The government estimates losses have been at $2.3 billion so far.  What’s more, some fraudsters have bankrupted whole companies, according to U.S. Attorney General Eric Holder.

Apparently, this crackdown is only beginning.  The FBI is now investigating fraud activity in large institutions.

Stay tuned.  This is getting interesting.

Read Authorities Reveal Mortgage Fraud Crackdown

The Real Estate Wonk: Multitudinous mortgage fraud – Reporter

The FBI, which Thursday announced hundreds of arrests for mortgage fraud nationwide, notes that the scammers are choosing from a long menu of possibilities in this uncertain market. For instance: Bankruptcy as a scammer tool. …

Publish Date: 06/18/2010 6:00

http://weblogs.baltimoresun.com/business/realestate/blog/2010/06/multitudinous_mortgage_fraud.html

New Twist on Mortgage Fraud | DoD Live

The latest mortgage relief scam to exploit financially strapped homeowners involves forensic mortgage loan audits. In exchange for an upfront fee of several hundred dollars, so-called forensic loan auditors, mortgage loan auditors or …

Publish Date: 06/17/2010 15:18

http://www.dodlive.mil/index.php/2010/06/new-twist-on-mortgage-fraud/

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How To Do a Wholesale Flip

Here’s a good video where Michael Jake takes us through a wholesale flip. He shows us exactly what he looks for in a good deal.

Michael Jake walks us through a wholesale flip.

Many real estate investors are now interested in rehabs because of the hot foreclosure markets.

Michael shares the secrets such as how he reacts to pet smells. Pet smells will turn off regular buyers, but Michael smells opportunity.

This goes back to my father’s real estate investing advice.  “Find a property with a little something wrong with it.”

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Deals in Las Vegas, Nashville, Phoenix

There will be deals in disaster areas such as flooded Nashville, housing boomed Las Vegas. Keep your head on, however.

There are deals for savvy real estate investors in Las Vegas and Nashville.

Disasters tend to weed out the settlers who want to leave town and start over somewhere else.  I have seen that first hand in Nashville.  Get on Craig’s List and look at the huge discounts in some properties that were flooded and most likely, will never flood again.  (Shhh)

These investments are not for the faint of heart.  There’s a lot of work to be done and the new EPA guidelines about lead paint removal are kicking in.  Some folks without dry drywall are throwing in the towel, literally.

Will some of those properties always be cursed?  Hard to tell.  Others can not get a building permit to rebuild,  so beware.  But there are opportunities.

Las Vegas and Phoenix, on the other hand will probably have another dip on prices coming very soon, according to the Bloomberg news.

Sales are down since the tax credit ended, which means there will be more inventory to move.  That’s inventory left over from the last housing bubble.

Read about sales plunge from bubble market- Bloomberg News

More from the Web

2010 Nashville Flood Aftermath

Trash video-2010-05-11-17-29-01.3gpNashvilleTwilight’s Kristen Stewart Trailer Trash Pictures: ‘Flaunt’-ing …Blairstown plant turns trash into.

Publish Date: 05/28/2010 18:32

http://www.nashvilleflood.net/2010-nashville-flood-aftermath.php

Increase In Bank Foreclosure Listings Attract Homebuyers

In the counties of San Bernardino and Riverside, selling prices of properties in Bank Foreclosure Listings were comparable to values back in the year 2000. On the other hand, Las Vegas and South Florida’s foreclosed home prices were …

Publish Date: 05/29/2010 9:36

http://www.lendersindex.com/foreclosure/increase-in-bank-foreclosure-listings-attract-homebuyers/

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Top 8 Weirdest Houses

Here’s Popular Mechanics’ list of the strangest houses. It’s fun and I hate to admit I actually like some of them.

 

Here is Popular Mechanics’ list of the 8 weirdest houses.  Actually, the list is 18 long, but the mag is giving us a tantalizing glimpse of some of the most interesting ones online.

They range from a sphere shaped tree house to the Gaudi-like Nautilus House, which is kind of whimsical.

My most fav is the Steel House, which is on a high bluff in Texas.  Not sure how tornado resistant it will be since it’s balancing on four skinny legs, but maybe that’s just me.

See Popular Mechanics’ 8 Weirdest Houses Continue reading “Top 8 Weirdest Houses”