Foreclosures, Short Sales and Investment Opportunities

Foreclosure deals on distressed homes at excellent prices are at an all time high. Everyday now not only investors but also second home or vacation home buyers are finding fantastic deals. There are just a couple of important rules you must understand when looking at pre-foreclosure or short sales. The number one rule is patience and coming in a close second is paperwork.

Short sale terminology may lead you to believe the purchase process will be short and sweet. The home owner must be struggling and the bank does not want to own property so it should be pretty simple right? Wrong. More than likely the bank or mortgage company personnel is understaffed and overworked. Some of these people are working on as many as 100 files at a time. This, more often that not, is exactly the scenario and it lead to delays, which leads to frustration, which can end up in buyer and agent disgust. As a buyer you must have the patience of a Saint with the short sale process. Many times it takes weeks and even months longer than a typical real estate transaction.

Foreclosure and short sale paperwork is another very important consideration. As a buyer you should be very well organized. Before you even begin to look there are a few very important items you should have ready. Being prepared before hand will greatly reduce mistakes that could cost you time and money.
Finding a foreclosure or short sale home that meets all your needs at a bargain price takes persistence and patience. A good Realtor will not only help you find a home at a great price but will also help you prepare for the process before it begins. That is the secret to a smooth, relatively stress free home purchase.

Looks like 2008 is starting off ....

Well I was going to say GREAT but I don't think we are there yet. We are starting to see a turnaround in the market over the past few weeks as compaired to the past few months. The phone is starting to ring more often and my web page hits have continued to climb.

Not to mention the Fed has finally awaken from their stupor and started to do something with rates. Now if we can just get some relief from property taxes and insurance we could see some real improvement in the market.

Real Estate Outlook: Media Reporting Good Turns?

Well folks despite the slow down and all the gloom and doom I still think there is hope in the future. We are still seeing record low interest rates and movement in the market in both new and existing homes. All pointing towards a better year in 2008.

Happy New Year

Alan

More good news for Residential Real Estate

Yes, it is a great time to buy real estate. Why? Glad you ask. Most importantly is the abundance of inventory on the market right now. This not only give you a lot of great choices but the sellers are in many cases more than willing to work with the buyer on price and terms. Secondly, mortgage rates are still very low and continue to remain relatively stable. I remember when...they were 15 and 18%!

I found this great article with some great information on buying now.

So what are you waiting for, it's a buyers market, let's get out there and find the home you've always wanted but were afraid to look for.

PURA VIDA (THE PURE LIFE)

Wow! Visit http://www.alancan.com/ , click on Visual Tours and see what all the excitement is about. You can also see some of the new construction going on at Roma Del Mar a great community developing in the quiet jungle area just as you get off the ferry at Playa Naranjo from Puntarenas.
Costa Rica is located in the Central American isthmus, between the Pacific Ocean and the Caribbean Sea. It is a privileged destination because of its location in the middle of the Western Hemisphere. Its varied landscapes and mild climate make this small country the perfect getaway for a spectacular vacation or a memorable business meeting.

Want to view maps check out this site: http://www.maptak.com/cr/crm/cr-phy.html

REAL ESTATE JOKES

Q: What is a maintenance-free house.... A: There hasn't been any maintenance in the last 10 years.

The home buyer thinking of the real estate agent: I didn't think anybody could have that many teeth without being a shark.

Q: When is a one-story house a two-story house?A: You get one story before you buy and the second story after.

This house is 5 minutes from shopping ... if you have an airplane.

Q: What is a house-warming party?A: The final call for those who haven't sent a wedding present.

Here is an odd Real Estate listing: This house has a great location, but just one problem... The oven is self-cleaning, but the kids weren't.

Q: Why was the 10,000 sq. ft. mansion listed for only $1000? It had a swimming pool, guest house and no discernible structural problems.A: The seller was getting divorced and all her husband asked for was the proceeds from the sale

REAL ESTATE INVESTING TIPS

Are there any good investment properties on the market today? You bet, just a quick look in the local Multiple Listing will give you a great overview of what to expect. There are properties priced from the 60's in to the $700,000 plus range that are great investments.

There area several important investment tips you should know. Check out the Good Investing Practices article for some practical hints and helps. Of course you should be using a knowledgeable Realtor who owns and invest in real estate. Their knowledge and skills are invaluable.