The United States is seeing more and more foreclosures than it has ever experienced before. Investors in real estate are picking up on this new venture to profit from an extremely profitable new opportunity.
‘Bulk REO Investing' is the name of the new strategy, and it's captured the attention of many real estate investors out there.
The basis of the Bulk REO business is foreclosures, so let's examine the forclosure process now.
As a borrower becomes increasingly behind in his/her mortgage, the lender regularly calls and writes the borrower with default warnings and threats. The lender directs the imminent timing of the actual foreclosure proceedings. The ‘pre-foreclosure' time starts with filing of foreclosure paperwork and concludes at public auction.
The defaulted property is ultimately auctioned, which completes the foreclosure process. If the property is not purchased at auction, ownership goes back to the original lender. The designation of ‘REO' (Real Estate Owned) is then attached to the foreclosed property.
Local real estate agents are usually used to resale REO properties at retail price to the general public. However, REO properties are now frequently sold for far less than their book value. Lenders are willing to do this in exchange for the buyer's agreement to purchase a ‘package' of REO's rather than a single property.
One of the best ways to take advantage of Bulk REO Investing opportunities is with a regarded source of funding. Some sources of funding for these transactions are: personal funds, hard money lenders, commercial lenders and non-conventional sources such as private investors and hedge funds.
Are you an investor looking to purchase BULK REO? Contact us for more information!
Buying Arizona Real Estate from Canada could not be a better idea! Whether you plan on buying to hold and sell in 5 years, or are buying to enjoy a wonderful winter paradise home! Arizona’s real estate market is as hot as the summer! Sure our summer's can be a bit rough, but enjoying drinks and dinner on a patio in December is worth it! Arizona Real Estate prices are at an ALL time LOW!
You probably have a few things to think about and many questions that need answering: (Where do I purchase, what is the crime rate, what neighborhoods are best, and probably many more!) Buying a home even minute’s from where you currently live can be an overwhelming task, buying in another country can seem impossible!
MVP Realty Team specializes in Arizona Canadian Investment homes; Mark McIntyre has been specializing in investments for over 20 years! Our Team of Arizona Canadian Home Investor Specialist welcomes the opportunity to guide you through the process. The purchase process from abroad can be a seamless, flawless enjoyable adventure with the help and guidance of our skilled team! Contact us today for in depth market analysis that includes crime rate statistics, school reviews, and more!
With the state of the economy being what it is today more people are being forced to make a decision about selling their home through a Short Sale or going through the painful ordeal of a foreclosure. Are you like many other American’s out there wishing you could just find sanity in a pill form? Unfortunately I haven’t found the answer or solution to that….
Closing A Short Sale in 30-90 DAYS. YES 30 DAYS! Don’t believe us?
We have sold over 300 Homes email us if you would like to see the list.
A Short Sale simply stated is listing your home at today’s market value or even slightly less which is commonly known as being upside down. The lender then must agree to accept this as full payment of the loan even though more is owed on the mortgage and it is not guaranteed this will happen.
This being said, a homeowner may ask why they should consider a Short Sale and there is one answer which is your Credit Score. In the past the homeowner had to be behind in payments before a Short Sale was even looked at but that has changed. Though it is difficult to negotiate a Short Sale when your payments are current it can be done. A Short Sale does NOT affect your credit rating in a negative way; it is the late payments and foreclosures that knock your score down. A foreclosure will generally take 200 to 300 points off your credit report and you will not be able to obtain a home loan for anywhere between 24 to 72 months; it usually is in the 5 to 7 year range before you will be able to obtain any type of decent interest rate.
If you are fortunate enough to be able to negotiate a Short Sale before you fall behind on your mortgage payments you will be able to obtain a loan just as though nothing has happened. Most people find themselves behind in payments before trying to make the painful decision on what to do next. If you are behind 90 days and get your home sold through a Short Sale rather than letting it go to foreclosure you should be able to obtain a home loan within 24 months which is certainly much better than the 5 – 7 years for a foreclosure. Again, if you are able to do a Short Sale before falling behind in your payments you credit reports stays intact. It is difficult knowing that you are not going to profit by dollars in the pocket from the sale of your home but being able to protect your credit score is an investment in the future.
Mark McIntyre and Keller Williams Arizona Realty will be able to help you with the many questions you have regarding listing your home as a Short Sale. There is a lot to negotiate with lenders when selling your home this way and Evan can make this as smooth a transaction as possible... Save your time and energy! You will help keep your sanity and your credit! 2 things that right now seem to be hard to find in this market!
Under revised guidelines effective October 1, 2009, the FHA is implementing a new approval process for condominiums to be eligible for FHA / HUD financing. Under the new guidelines, the spot approval process will no longer be available, and approvals expire every two years. Click here to see a copy of the HUD Notice.
- Historically, to utilize HUD / FHA financing, a condominium could, under certain circumstances, receive “spot approval” for lending with HUD / FHA, or the association was required prepare and submit a comprehensive package of materials for consideration for “permanent” approval.
- Under the October 1, 2009 guidelines, FHA will allow lenders to determine project eligibility, review project documentation, and certify compliance with the National Housing Act requirements. We expect lenders will approach association boards and managers, asking for certain information, certifications, and even legal opinions regarding compliance with certain legal requirements.
- If a condominium is not on the FHA-approved list, or has lost its approval because it underwent repairs or litigation, or for some other reason, the board of directors may wish to consider applying for approval (or re-approval).
Danielle Gregorich became President and C.O.O for Premiere Luxury Realty, Arizona’s only boutique luxury Real Estate brokerage in 2011.
Premiere Luxury Realty is Arizona’s only boutique luxury Real Estate brokerage. PLR has set extraordinary records with their distinctive marketing and selling techniques within Arizona’s luxury home market.
Since the very beginning, John Conover and Kevin Conover have placed their primary focus of business based on Excellence – Excellent Service, Exceptional Luxury Real Estate, and Excellent clients. Premiere Luxury Realty is your Arizona expert luxury home Real Estate brokerage.
Coverage Areas by Zip Code:
85323, 85355,85311,85209,85381,85011,85025,85039,
85326, 85268,85312,85210,85382,85012,85026,85040
85396, 85269,85313,85211,85383,85013,85027,85041
85377, 85337,85318,85212,85385,85014,85028,85042
85327, 85301,85339,85213,85001,85015,85029,85043
85331, 85302,85340,85214,85002,85016,85030,85044
85224, 85303,85201,85215,85003,85017,85031,85045
85225, 85304,85202,85216,85004,85018,85032,85046
85226, 85305,85203,85274,85005,85019,85033,85048
85244, 85306,85204,85275,85006,85020,85034,85050
85246, 85307,85205,85277,85007,85021,85035,85051
85248, 85308,85206,85253,85008,85022,85036,85053
85249, 85309,85207,85345,85009,85023,85037,85054
85227, 85310,85208,85380,85010,85024,85038,85055
85060, 85071,85083,85252,85263,85379,85280,85070
85061, 85072,85085,85253,85264,85387,85281,85082
85062, 85073,85086,85254,85266,85388,85282,85251
85063, 85074,85087,85255,85267,85375,85283,85262
85064, 85075,85098,85256,85268,85376,85284,85375
85065, 85076,85099,85257,85269,85387,85285,85388
85066,85077,85240,85258,85271,85374,85287,85067,85078,85242,85259,
85060,85372,85379,85383,85069,85080,85250,85261,85374,85387,85363
All cities Serviced in the state of Arizona:
Avondale
Buckeye
Carefree
Cave Creek
Chandler
Chandler Heights
El Mirage
Fountain Hills
Gila Bend
Glendale
Luke AFB
Laveen
Litchfield Park
Mesa
Paradise Valley
Peoria
Phoenix
Queen Creek
Scottsdale
Sun City
Sun City West
Surprise
Tempe
Tolleson
Youngtown
Counties Serviced: Maricopa County, AZ and Pinal County, AZ
Here is just a small portion of testimonials that are from Top Producing Agents and Clients
~Dusan Djukich, (Author of Straightline Leadership)
~Chris Walker, Technology Manager, Keller Williams Realty~
~Jonathan Burgess, Owner Code 3 Realty~
~Nate Green, Owner Blue Roof Realty~
~Evan Carr – Realty One Group (Previously known as John Hall)~
~Derek Zieder, Realtor, Keller Williams Arizona Realty~
~Randy Roberts, Professional Action Real Estate ~
~Troy McAvan, Engineering Project Leader at General Dynamics C4 Systems~
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