Loans and Financing

October 17th, 2008

Word from Wells Fargo this week was that most investment properties would now be 20% down with very few exceptions, if any. For investors with cash now, this presents a great opportunity to get a lot of properties other buyers will not be able to afford. We have written offers on three bank owned properties this week. Please let us know if we can help you capitalize on this trend.

October 17th, 2008

Interest rates too high?? Buyers and sellers have a great option that is rarely used or talked about. Certain loan programs allow the seller to buy down the buyers rates in the early years of the loan. This can be a great option when rates spike, to help both sellers move property and buyers get in at an affordable payment. Please call for more details.

September 15th, 2008

A seller asked me today “What does the market crash mean to me?” I am by no means a financial expert but from a real estate perspective I can tell you how this has been affecting us. It has become more important than ever to make sure buyers are prequalified and the loan programs they were approved with are still available and with a viable company. We have been paying extra attention to which lenders we are using and where they are placing clients loans. We are constantly reviewing files and updating information on new programs and where we are headed. It is more interesting than ever and we will be monitoring these changes carefully.

September 15th, 2008

What an amazing week we have seen for some great deals for investors with cash. We have noticed over the last few weeks that less and less buyers are being able to obtain loans on investment properties so many banks are lowering the prices faster and lower than we have seen in recent months. I am excited about our Forclosure Tour this weekend and the chance to help some more clients into these properties. Great news for distressed homeowners and investors this week, as a few of the major banks eased the documentation requirements to process short sales.