Archive for Online Real Estate Resources
July 9, 2008 at 6:51 pm · Filed under Online Real Estate Resources
A home equity loan allows you to borrow against the equity you have built in your house. Even if you have no equity, you may be able to borrow up to 125% of the value of your home. You can use the extra cash to consolidate bills, fund college tuition, or any other reason you see fit. If you have bad credit, you can still apply and be approved for a home equity loan. Mortgage lenders are offering great interest rates and easy terms on home equity loans, even if your credit history is less than perfect.
A home equity loan will give you the financial means to pay off your debts and begin rebuilding your credit. You can use the cash for any reason you choose and you may even lower your monthly mortgage payments in the process. Don’t let bad credit stop you from applying for a home equity loan. Lenders are competing for your business and can offer you numerous options and choices when you apply for a home equity loan.
Homeowners have an advantage when bad credit prevents them from obtaining new credit accounts. You can use the equity in your home to secure a loan up to 125% of your home’s appraised value. Bad credit will not exclude you from apply for and being approved for a home equity loan. Lenders are currently offering loan products for all types of credit situations. If you have bad credit and own your home, a home equity loan can be designed to fit your individual needs. You can begin rebuilding your credit and get the extra cash you need to pay off high interest credit cards, past due accounts, and any other expenses you may have.
Bad credit will not prevent you from applying for a home equity loan. You could even be approved for a home equity loan up to 125% of your home’s value. Begin rebuilding your credit and get the extra cash you need to put you on the path to financial freedom. It is even possible for you to lower the amount of your monthly mortgage payments with a home equity loan. You can have extra cash in your wallet each month to help you repair your credit history. A home equity loan, even if you have bad credit, can be the solution the stress and pressure that comes from past due bills and endless calls from creditors.
To view our list of recommended bad credit home equity lenders, visit this
page: Recommended Bad Credit Home Equity Lenders.
Carrie Reeder is the owner of ABC Loan Guide, an informational website with articles and the latest news about
various types of loans.
June 13, 2008 at 10:30 pm · Filed under Online Real Estate Resources
We are selling our house. We have lived here for 15 years, the longest I have ever lived anywhere; of the places since I left my parents’ home I think my previous best was three years. There is a certain comfort to residential stability. I expect I will be filling out change of address forms from when we move through the end of my useful life.
Coincidentally, there were two articles that I have come across since putting up our “For Sale” sign a week ago that address the housing “bubble.”
Slate.com’s Daniel Gross writes about “Bubble Over Troubled Waters: Why the real estate bubble could be good news for the economy.” He refers to “what many are already calling the successor bubble to the dot-com fiasco: the U.S. housing market.”
On the positive side, Northern Trust economist Asha Bangalore notes that “the performance of the housing market has played a visible role in payroll growth.” Gross adds that “Spending on housing flows into a remarkably wide range of sectorsand the overwhelming majority of the spending is local.”
So are these people out of their jobs when the bubble bursts? Gross suggests that it is “possible that housing was the bridge that helped us get over the post-bust job chasm.”
In a Greg Thomas article entitled “Up, Up, and Away” in today’s New Orleans Times-Picayune (TP), the subtitle reads “N.O.-area home prices keep soaring, leaving some to wonder if a market tumble is on the horizon.”
Greg reports that “Sales prices of single-family homes in the metro area continued their skyward trajectory during the first six months of the year, climbing 11 percent compared with the same period in 2004. Some experts say it could be the highest jump in local home prices in at least 50 years.”
So I am buying and selling in the bubble. The TP shows that where we are selling, prices are up 34% over last year, while where we are buying they are only up 10%. Could I have timed this transaction just right?
By the way, while this is not meant to be an ad, if you are looking for the nicest house in New Orleans East then check us out at http://house.jbv.com.
I will keep you posted on our adventures as amateur real estate agents. Let me know what is happening in your area.
John B. Vinturella, Ph.D. has almost 40 years experience as a management and strategic consultant, entrepreneur, author, and college professor. For 20 of those years, Dr. Vinturella was owner/president of a distribution company that he founded. He is a principal in business opportunity sites jbv.com and muddledconcept.com, and maintains business and political blogs.
May 24, 2008 at 3:09 am · Filed under Online Real Estate Resources
Why without asking your boss?
Two reasons, one, he or she will most likely say no; and second,
he or she will probably have you committed for asking.
So what do you do. Give the raise to yourself.
Impossible you say. Chuck and Sue are crazy. Not at all. Here’s
how.
You know we love the Creative Real Estate niche of Lease
Purchasing and you know we believe it to be the perfect
home-based business.
But, did you know you can use these same methods in your spare
time to give yourself that big raise.
Ask yourself, “What would I be willing to do to earn an extra
$20,000 in a year”.
The answer may surprise you. And no, you don’t have to become a
hit man (or woman) to earn this.
You just have to be willing to take a look at Lease Purchasing.
Some background before you think we’ve completely lost it.
For every 100 calls Sue makes on For Sale By Owner property, she
either speaks with or leaves messages for about 60%. That’s
about 60 people she puts the concept of Lease Purchasing in
front of.
Out of that 60, approximately 10 will develop into true
prospects. From these 10, 2 or 3 will develop into property we
are willing to take on. The others may become consultations or
manual sales.
(Please keep in mind, these numbers will vary a bit depending
upon your particular area and current market conditions).
Gee, you say, that sounds like a lot of work. Not really.
Consider making those calls over a 3 month period. That’s the
equivalent of a call per day. Why a 3 month period. Because
you’re only looking to do one deal a quarter.
Next question. How does this translate into a $20,000/yr. raise?
Simple.
On a typical single family house, we look for a $5000 assignment
fee on average. Well, let’s do the math. 4 x $5,000 = $20,000.
Yup, a $20,000 raise on 4 deals per year.
Is this realistic? Absolutely.
In fact, we may be conservative on that raise for you. You may
well decide to do five or six or more deals in a year.
All it takes is knowing how to structure your deals, having the
proper contracts and a willingness to want to give yourself a
raise. You can find all this information at our website at:
www.homebusinesssolutions.com/products
You’re right. Chuck and Sue are crazy. Crazy like a fox.
Copyright 2005, DeFiore Enterprises
May 14, 2008 at 1:28 pm · Filed under Online Real Estate Resources
Being a creature of habit can cost you plenty when it comes to applying for a commercial mortgage instead of going through an independent commercial mortgage broker. Let me tell you why.
Most business people have an established relationship with their bank and take advantage of that relationship whenever they need to borrow money. However, here is the question that you should be asking yourself: “is your bank taking advantage of you?”. More and more the answer to that question is “Yes”.
Once you have an established relationship with a bank they tend to start taking your business for granted. Not necessarily in a bad way, mind you, but in the way that a mutual level of comfort exists. The bank knows your reputation for keeping your word; they know how much money passes through your account and they know what your business does. You know that there is someone there that you can ring up who knows you and will work with you
to get a commercial mortgage.
Seeing as how applying for a commercial mortgage can be a time consuming affair it is a natural tendency to go to the people that you already know to get the deal done with the minimum amount of red tape. The bank realizes this and it removes their incentive to cut you the most competitive deal or to negotiate on terms that you may not like. In essence you are locked into accepting whatever commercial mortgage “packages” your bank offers.
Now, on the other hand, if you take advantage of the services that are offered by an independent commercial mortgage broker then a whole world of options open up for you. Your broker is able to shop your commercial mortgage application among a large number of lenders who are hungry for new business. As a result you are often offered deals that beat your bank’s best offer by a considerable latitude.
Current statistics show that only about 14% of commercial mortgage loans go through an independent commercial mortgage broker with the remainder being placed directly through the bank where that business owner has a relationship. With those kinds of statistics is it any wonder that a broker will bend over backwards to find you a good deal?
Imagine your potential savings possabilities when you engage an independent commercial mortgage broker who is able to find you two, three, four or even ten or more lending sources who all want to compete for your business! Plus, a broker doesn’t earn any fees unless a commercial mortgage loan deal closes. This gives them a strong incentive to find a deal which is tailored to your specific requirements. Even better, the broker earns their fee from the lender so it doesn’t cost you anything to save all of that money.
You wouldn’t buy a new car or lorry without checking out different dealers to find the best price would you?
Then why in the world would you settle for a “one size fits all” commercial mortgage from your banker? It just doesn’t make sense. At least not when there is an independent commercial mortgage broker who is jumping up and down for the chance to save you money. All you have to do is find the best one for you.
Author:- Commercial Mortgage and Bridging Finance specialists Commercial Lifeline.
Download our free Commercial Mortgage guides by visiting our Commercial Mortgage Guide page.
This article comes with reprint rights. You are free to reprint and distribute as you like. All that we ask is that you do not make any changes, that this resource text is include, and that the links above are intact.
May 7, 2008 at 3:17 am · Filed under Online Real Estate Resources
You see the rates coming down. You hear about the great refinancing deals your friends are getting, but you haven’t taken the leap. This was me 6 months ago. I am writing to say I have overcome my fears and it was WORTH IT!…..
Refinancing your high interest rate mortgage may seem like a task left for the skilled home owner, real estate broker, or financial wizard, but let me say, I am no wizard.
I am a novice homeowner when it comes to the skills to wheel and deal real estate, but I could not resist when i saw the interest rates dropping. I took the leap.
And you know….the leap wasn’t all that bad. The one thing i found when refinancing was that there is a wealth of information on the internet about the whole process. I was able to visit various mortgage sites that give you links to any information you would ever need for refinancing.
The process is NOT as daunting as it may seem from the outside, once you do some digging around and reading. Not to mention there are thousands of people willing just to talk to you and guide you through the process. My fears are overcome.
And I had FEARS. I did not want to look ignorant with all the questions I had, but you know, I found mine were similar questions that people have had for years. As I read through these websites and talked to experts, they helped me realize that I was not alone. All it took was a bit of reading, some time, and a bit of effort. Now I am saving thousands with my new refinanced mortgage. Intead of 6.9% I am now at 5.7, and that is a lot of money over 30 years.
So take the leap….refinance now….join the party and don’t be scared!
Christopher Taylor is a happy homeowner and web designer.
Website design.
April 7, 2008 at 11:00 pm · Filed under Online Real Estate Resources
The home buying and selling season is fast approaching and I will be giving out a series of tips for home buyers and sellers in the weeks and months ahead-tips that will help you protect your legal and financial interests. Buying or selling a home is a BIG business deal composed of people, emotions, contracts and cash-all the ingredients for legal and financial pain if you don’t know what you are doing and most people don’t. When you are doing a real estate deal, you are surrounded by sales people who have an economic interest (called a commission check) to manipulate you into spending as much of your hard earned cash as possible. Keep your eyes on my column over the next weeks and months, especially of you are a home buyer, because real estate agents legally represent sellers and NOT buyers (.)
Here’s a few basic tips I like to refer to as the 10 commandments for home buyers and sellers.
1. BUYERS: real estate agents legally represent sellers, NOT buyers…their job is to get the highest possible price for the property. They are not “your agent” and what you tell them may be used against you. Learn how to take control of the relationship.
2. BUYERS: avoid giving more than $100.00 when you write a purchase offer on a home. In this way, if you cannot complete a transaction you have less money at risk. Large good faith deposits do NOT guarantee you will get financing. Why risk your money?
3. BUYERS: arrange your home financing first, BEFORE you look for a home. Doing so gives you the same power as a cash-buyer. Our home buyer products show you how to use your pre-qualification to SAVE THOUSANDS when buying a home.
4. BUYERS: When you sign a purchase offer, make sure that you write above your signature the clause “subject to buyer’s attorney’s approval”. These 5-magic words can get you out of a bad deal if your attorney does not approve.
5. BUYERS: remember; a purchase offer becomes a legally binding contract when accepted by the seller. Fully understand the legal details before signing
6. SELLERS: avoid signing long-term listing agreements with any real estate agent. Keep the listing contracts limited to 90-day increments so that you can review performance.
7. SELLERS: Avoid signing a listing agreement with part time agents. Use only full time agents so that you increase your chances for more professional representation.
8. SELLERS: Interview multiple agents before signing a listing contract. Make sure that you write above your signature the clause “subject to seller’s attorney’s approval”. These 5-magic words can get you out of a bad listing contract if your attorney does not approve.
9. SELLERS: avoid signing purchase offers with unqualified buyers. Doing so removes your property from the market while waiting to find out you are dealing with a dud.
10. SELLERS: Make sure your agent presents you with an itemized marketing plan detailing the selling activities that will be performed during the listing agreement.
Planning on buying or selling a home? May I humbly suggest you visit our website? Smart Books Publishing specializes in representing consumers, people like you, who are planning on doing a real estate or business deal and you should know that this resource is available to you. Why? Because people are like lambs among wolves when buying or selling a home! Agents are trained in real estate principals, practices and some law. How much training have you had? Ever heard the term: caveat emptor? That’s legal jargon for “buyer beware” which is a fancy legal way of saying cheating is okay. The agents are on commission, the mortgage brokers on are commission and it’s a “good old boys club” which you are NOT a part of. Visit the site and get smart fast!
My E-Report: 101 Tips For Home buyers, Sellers And Money Borrowers will help you with more information regarding this article-go to smart Books website, send us an email requesting a copy and we’ll send it to your email address within 24 hours-absolutely free! (limited to first 20 responders-make sure you say you saw it on Ezine!). Another Ezine Exclusive! Until next time…
NAME: Jim Hart
TITLE: CEO Smart Books Publishing
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