I went out previewing properties a couple days ago. That particular client’s situation being what it is, I was concentrating on vacant properties. But over half the vacant properties in that area had restricted showing instructions. “Call agent first,” or “call for appointment to see.” When the property is vacant, there just aren’t any common …
Continue reading “Listing Agents Who Want Both Halves of The Commission”
I am seeking to sell my properties to my tenants. I want to create a mortgage and then sell the mortgages. Properties are undervalued in this area as they have been historically fixer-uppers. Ours are in very good condition due to major renovations. This would interfere with a regular mortgage, but temporarily holding one might …
Continue reading “Sellers Lending to Buyers and Selling the Note”
In all of my conversations on mortgages with prospects, there is one subject that comes up over and over and over again, and that is the subject of payment. “But that loan over there only has a payment of $1450! The payment you are quoting is $2700! The other guy has a better loan!” Then …
Continue reading “Never Choose A Loan (or a House) Based Upon Payment”
I am buying a house. I signed the contract but the seller said contingent to sell until she buys new house? Is that normal? People do it. It’s smarter to avoid the stress and complications of dealing with both at once, but there’s nothing wrong with a contingency sale, so long as you agreed to …
We live in (A California city). In a 2 bedroom 1 bath home on approximately a 20,000 Sq. ft. lot. It is easily worth 500K to 600K with a current mortgage of $116,000. The mortgage/Title is in the name of my father and his wife 90% and myself and my wife with a 10% interest. …
Continue reading “Issues with Family Transfers of Real Estate”
Is there any problems with having all your money in only real estate? That was a question I saw. The answer is YES there are problems! 1) No diversification. The real estate market tanks, like it has right now (originally written 2006), and you are hosed. The more so because of the leverage attaching to …
(This was originally written February 16, 2006, but it’s relevant still) One of the occasional questions I get from people has to do with why the housing bubble got so big (or if you’re one of those still in denial about it, how prices jumped so far so fast). This has to do with several …
Continue reading “Fear and Greed, or How Did The Housing Bubble Get So Big?”
I’ve seen many new home developments with vaulted ceilings, mini-vineyards, huge houses on little tiny lots…Why can’t some developer built some homes for us regular people?A normal sized home with plenty of closet space and a decent (not designer) kitchen that is set more than 3 feet from the neighbors house.I realize that they need …
Continue reading “Why the Current State of New Developer Housing”
<blockquote> Hi–I just found your site today. The best I’ve ever seen/read, etc. Thank You!! I do have a question I didn’t see addressed regarding our current situation/dillemma: Our present home, which we’ve lived in for 8 years, is worth around $180,000 (yes, it’s a small town…), and we owe $105,000. My husband has been …
One of the most common things I’m seeing as I roam about the East County looking for bargains: Agents not doing their jobs. Now single family detached homes that are priced appropriately are selling, and for appropriate prices, even at 37 sellers per buyer. Condominiums aren’t moving unless they are brand new with lots of …
Continue reading “Time for Listing Agents To Earn Their Money”
