If the rumor mill is correct (and I think it is) there may be help on the way for real estate sales. It is rumored that Fannie Mae and Freddie Mac will be offering 4.5% home loans in the very near future. Wow - if that doesn't get the buyers to get off the fence, I am not sure they are real buyers at all. Very low homes loan rates could really jump start the recovery of the current real estate market. In fact I am starting to believe that is the only solution -- and why not, could we consider this as a "real estate bailout"? We all know that something drastic is needed to change the market.
It seemsincredible, but banks are not the best at being careful. We sure do seem to find the bad ones. In the last four REO deals we have done, each one has a common characteristic -- they lose paperwork. I now keep copies of everything close at hand, knowing there is a good chance that I will have to send the same material to the bank - again. Three times for the same paperwork is my record - but today I may even break that record. Needless to say my sympathies do not lay with the "poor banks". So be warned - be ready to send paperwork more than once. So Sad.
I have decided to drop in a link to a post that I did this summer. The concepts are just as valid today. I hope that some of you find it interesting reading. In my practice I see way too much emphasis on the value people attribute to their home. We love real estate as an investment vehicle, but keep the focus on "investment", not on home equity or home values. We encourage true investing. We do it for ourselves and share our experience with our clients.
Hello to all. I want let you all know that I have another "Blog" that will introduce you to me and my variety of thoughts. It will take me a little timeto get up to speed on the AR blog, but I will get there. My posts will be mostly about real estate and very little about just "chatter" - so please forgive me if I am a little brief. I believe post need to be to the point and not consume a lot of reader time. We have more than enough to read each day -- talk later, Todd
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