Jul
31
Real Estate Investing: Pre-Foreclosure Secrets
Posted By: Ramon Rivas on July 31, 2010 at 11:19 amLocation, Location, Location
In real estate investing, you will drive yourself insane looking at properties in random areas of the country or state. You need to select your location first and then see what properties are available. It’s no good buying a beautiful mini mansion in Ohio if there haven’t been any significant sales in that town for ten years. Once you get your location chosen, then you can focus on the properties.
Many in real estate investing prefer to work with preforeclosure properties than ones already in foreclosure. You not only feel good helping the homeowner out a little bit, but you can often save as much as 40 of the house’s market value.
Don’t be surprised if the homeowner doesn’t answer the phone or the doorbell. They may be scared that you are a bill collector. They may also feel shame and confusion. Be patient. Slip a note under their doors if you have to, just to let them know that you are not a bill collector or their lenders.
Talk To Your Accountant
In order to save more money, those in real estate investing may be entitled to a large rebate for every foreclosure or preforeclosure piece of property they buy. This is due to the Foreclosure Prevention Act of 2008. However, since tax laws seem to change by the minute, don’t count on the rebates. If they happen – great, but do not gamble everything on getting a whopping great rebate check.
If you liked the video, a quick comment down below is greatly appreciated. Thanks for watching!
In this video I talk about Shadow Inventory. In Real Estate, Shadow Inventory are those properties that are likely to come into the market in the near future. An example of Shadow inventory can be homes taken by banks in the Foreclosure sale at the courthouse (also known as Bank Owned, Corporate Owned, or REO – Real Estate Owned) that haven’t been put in the market yet. Another example could be properties in Pre-Foreclosure (homes that are in the process of Foreclosure) that are not listed for sale yet, or even some people consider Shadow inventory the homes that are upside down (The Mortgage Balance is higher than the property’s value) and not yet in Foreclosure and are not listed for sale. I don’t necessarily agree that the last group of homes should be counted as Shadow Inventory, because a lot of them are still making payments, but the people that count them as Shadow Inventory bet on most of them stopping payment soon and letting the house go to Foreclosure.
Anyway, some people are estimating that Shadow Inventory could reach up to 8 million homes or more Nationwide in 2010 and they say we expect sales of about maybe 5 million homes only, which may cause another depression in home prices again for 2011, and it could take years before all the shadow inventory is sold.
Now, I am not going to get into details about whether this is good or bad news, it all depends on how you look at it. If you are in the Real Estate as an investor, and you know what you are doing, you could make a lot of money in the next few years.
In this video I show you how to use the power of information to be on top of your local market. People love to talk about nationwide numbers, and I understand it gives you an idea, but you need to know your local market, because most times your market is not going to be anything like the nations average. In the video I concentrate on the shadow inventory coming from Foreclosures that are not for sale as shadow inventory, and I show you how to get the number in your county by using Xima.
Since my time is limited on the video, I was only able to demonstrate the calculation for Miami Dade, but I present a table below with the numbers for all the counties we have available with Xima:
Shadow Inventory of Single Family Homes as of today July 28th, 2010:
| County | Real Inventory* | FSI** |
| Bay | 1,557 | 205 |
| Brevard | 4,589 | 977 |
| Broward | 10,848 | 9,985 |
| Charlotte | 2,845 | 662 |
| Collier | 4,089 | 742 |
| Dade | 8,806 | 7,431 |
| Duval | 6,325 | 2,375 |
| Gadsden | 58 | 21 |
| Hillsborough | 8,068 | 3,497 |
| Lake | 3,967 | 958 |
| Lee | 8,642 | 2,908 |
| Manatee | 3,354 | 645 |
| Martin | 1,290 | 104 |
| Monroe | 1,211 | 85 |
| Orange | 8,576 | 7,585 |
| Osceola | 3,111 | 2,657 |
| Palm Beach | 11,939 | 2,542 |
| Pasco | 5,320 | 1,182 |
| Pinellas | 9,198 | 2,414 |
| Polk | 5,691 | 2,296 |
| Sarasota | 4,502 | 724 |
| Seminole | 3,077 | 1,496 |
| Saint Lucie | 3,059 | 330 |
| Volusia | 4,917 | 1,406 |
* Total Inventory: All Single Family Homes Listed for sale by Real Estate Agents as of 07/28/2010
** FSI (Foreclosure Shadow Inventory): All Foreclosure Single Family Homes not yet listed for sale by Real Estate Agents as of 07/28/2010
These are only the numbers for Single Family Homes, I didn’t include numbers for Condos/Townhomes/Villas. Also, I decided to include the Total inventory for every county so that you can make the comparison between the active listings and the number of foreclosures that are not even listed for sale yet. In some counties, when these properties come into the market, the active inventory could potentially double the present the inventory.
Another interesting number to add to this mix would be the total amount of sales year to date for 2010. For example: According to Xima, in Miami-Dade we’ve had 11,232 sales YTD, we have 8,806 active listings, and 7,431 Foreclosure Shadow Inventory properties, a total potential inventory of 16,237 properties. In 2009 there were a total of 20,224 sales in Miami-Dade.
I want to thank you for taking time to review this information. Please send me a quick comment below, I want to know your opinion about the article. Also, you can always subscribe to receive updates when articles like this are published.
Xima USA provides the best and most accurate foreclosure and pre-foreclosure information, data, and statistics available, making it a valuable resource to invest wisely Xima USA offers you everything you need to profit from foreclosure investing. It is your one stop destination to search for foreclosed homes, foreclosures Florida, properties with positive equity, short sale, pre-foreclosures or distressed homes. It creates comprehensive property comparison reports in a specific area, giving you a very powerful tool when making or negotiating an offer. XimaUSA is mainly geared towards real estate brokers and investors, and the main purpose is to identify the best investment properties. You are able to search for properties with 30%, 40%, or even 50% equity, and identify possible short sales. You can also identify distressed sellers and FSBOs, so you may easily get those hot listings.
All this information is collected from many different sources and presented to you in one place, in a very easy format. This will give you the ability to get MLS listings information, public records, mortgage, pre-foreclosure and foreclosure details, you can get comparables of active listings, closed sales and rentals. Best of all, you can customize and print reports, mailing lists and labels for easy mailings.
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please click here to be directed to the website and play the video
Jul
27How to Create Mailing Labels in the Residential PRO interface
Posted By: Ramon Rivas on July 27, 2010 at 3:19 pmHow to Create Mailing Labels in the Residential PRO interface
If you liked the video, a quick comment down below is greatly appreciated. Thanks for watching!
In this quick video I show you how to generate mailing labels for your marketing using Xima. Simply determine the type of properties you want to target using the different filters available in the search page, and once you have your results, put them into mailing labels within seconds.
I hope you enjoy the video and subscribe to our database to receive a notice every time we release a new video tip.
Xima USA provides the best and most accurate foreclosure and pre-foreclosure information, data, and statistics available, making it a valuable resource to invest wisely Xima USA offers you everything you need to profit from foreclosure investing. It is your one stop destination to search for foreclosed homes, foreclosures Florida, properties with positive equity, short sale, pre-foreclosures or distressed homes. It creates comprehensive property comparison reports in a specific area, giving you a very powerful tool when making or negotiating an offer. XimaUSA is mainly geared towards real estate brokers and investors, and the main purpose is to identify the best investment properties. You are able to search for properties with 30%, 40%, or even 50% equity, and identify possible short sales. You can also identify distressed sellers and FSBOs, so you may easily get those hot listings.
All this information is collected from many different sources and presented to you in one place, in a very easy format. This will give you the ability to get MLS listings information, public records, mortgage, pre-foreclosure and foreclosure details, you can get comparables of active listings, closed sales and rentals. Best of all, you can customize and print reports, mailing lists and labels for easy mailings.
If you are viewing this post from a feed reader and cannot see the video,
please click here to be directed to the website and play the video
How To Find The Best Real Estate Deals
If you liked the video, a quick comment down below is greatly appreciated. Thanks for watching!
Both of these markets are booming right now, and people are making a lot of money from these types of properties, but I see that there is another market where there are Millions of dollars to be made and almost nobody is attacking it.
I am talking about the Pre-Foreclosure properties with equity. These allow for a quick deal at a deep discount (Great for a wholesaler or for a listing agent) and since nobody is working it, the competition is almost non-existent. In Today’s video tip I show you how to tap into this market in practically no time.
I hope you enjoy the video and subscribe to our database to receive a notice every time we release a new video tip.
Xima USA provides the best and most accurate foreclosure and pre-foreclosure information, data, and statistics available, making it a valuable resource to invest wisely Xima USA offers you everything you need to profit from foreclosure investing. It is your one stop destination to search for foreclosed homes, foreclosures Florida, properties with positive equity, short sale, pre-foreclosures or distressed homes. It creates comprehensive property comparison reports in a specific area, giving you a very powerful tool when making or negotiating an offer. XimaUSA is mainly geared towards real estate brokers and investors, and the main purpose is to identify the best investment properties. You are able to search for properties with 30%, 40%, or even 50% equity, and identify possible short sales. You can also identify distressed sellers and FSBOs, so you may easily get those hot listings.
All this information is collected from many different sources and presented to you in one place, in a very easy format. This will give you the ability to get MLS listings information, public records, mortgage, pre-foreclosure and foreclosure details, you can get comparables of active listings, closed sales and rentals. Best of all, you can customize and print reports, mailing lists and labels for easy mailings.
If you are viewing this post from a feed reader and cannot see the video,
please click here to be directed to the website and play the video
As dreams are taking newer turns, so are our efforts to realize them. It is only natural for anyone to dream of a home of one’s own, where one can live with one’s loved ones and cherish all the dreams that one had regarding a home, sweet home. And to acquire this, one can actually do anything starting from laboring day in and day out for paying that sky-high mortgage, even compromising on several aspects of daily life. But what happens when you miss to repay one installment? They threaten your property for real estate foreclosure. However, unlike most things, you have this in your own hands and decide the fate of your own home by being able to avoid foreclosure auction, avoid losing home and short selling your property pre foreclosure.
Why would you do that? Property short sale means selling your property at a value less than what you owe your bank or the lender organization for the mortgage under question, that is, less than the loan balance, which is secured against the property. This way you can save a lot of your money, which otherwise you would have needed to pay the lender along with saving yourself and your loved ones from all the humiliation and embarrassment that facing foreclosure auction generally induces. Some times, you may end up selling your home at a rate higher than what you owe the lender entity, thereby saving some cash for yourself for future reference. This would not have been possible if you would have let the lender take complete charge of your property.
Why would it interest the lender? A very obvious question arises here as to why the lender entity would be interested in such a transaction where it is receiving less than what you owe him. The answer to this is simple, indeed. By compromising on a section of its due balance, the lender entity is basically saving a lot of its expenses that it would have to spend otherwise in conducting a lot of paper works, by carrying out the legal procedures of foreclosure, refurbishing the property, marketing it, finding the suitable investor and so on and so forth. Just the simple organization and execution of the property foreclosure auction could cost the lender as much as $50,000, which is not a sensible investment in the absence of an assured buyer or investor.
The question that follows is why any investor would like to buy a short sale property. The answer to this too is simple enough – a short sale property usually sells at very down to earth prices, which at times can get as low as 60% of the actual worth of the property. Moreover, with the increasing rate of foreclosure and the subsequent rise of property short sale, the real estate industry is booming all over the United States and is showing much promise to interested US and overseas investors. Investors can earn great profits on these short sale properties by buying them from the homeowners at a very humble rate and reselling them in the open market at standard industry rates.
