Real Estate

Existing home sales surged a record 9.4 percent in September as Americans hurried to take advantage of a tax credit for first-time buyers before it expires next month. Purchases rose to a 5.57 million annual rate, more than expected and the highest in at least two years, according to the National Association of Realtors.

InvestorCompsOnline.com has trained our members to take advantage of this “surge” by teaching them to accurately valuate property and keeping them informed on all the latest trends in the industry.

The September increase in combined sales of single-family houses and condominiums was the largest since comparable records started in’99. This is largely in part due to REO and distressed sales. The share of homes closed as foreclosures or otherwise distressed properties was 29 percent in September from 31 percent in August. REOGoldMiner.com has given access to these properties for many of our InvestorCompsOnline.com members. At REOGoldMiner.com clients can locate and valuate these sought after distressed properties with the click of a button.

InvestorCompsOnline.com’s research has indicated sales of existing single-family homes rose 9.4 percent, the largest gain since’86, to an annual rate of 4.89 million. Sales of condominiums and cooperatives rose 9.7 percent to a 680,000 rate.

Purchases of previously owned properties, which consist of more than 90 percent of the market, are tabulated when sales close and therefore indicatet contracts signed a month or two prior. Sales of newly built houses, which comprise the rest, are recorded when a contract is signed, and may therefore slow months before the tax credit expires. Buyers must close before the Nov. 30 deadline to be eligible to receive the tax credit.

Many investors are hoping for an extension of the tax credit to continue this surge in the market as last month’s sales were heavily dependent on the tax credit.

Many Realtors’ groups are petitioning to extend the first-time homebuyers credit on concern desire will wane when it lapses. Many senators have begged their colleagues to extend the credit until next June.

Whether the tax credit is extended or ended in November, InvestorCompsOnline.com and REOGoldminer.com have the tools necessary for our members to continue to take advantage of this unique market.

To have access to the lucrative REO deals available in this current real estate market visit REOGoldMiner.com and InvestorCompsOnline.com to get the training necessary to remain successful in this current market. You are welcome to reprint this article – but get your own unique content version here.

Real estate investing has always been a popular way to earn money in the United States, and so it continues today. You might be considering getting started in foreclosure investing, but you will need to understand what is involved very thoroughly in order to have the best chance of meeting with success with foreclosure investing. REO GoldMiner.com can help you take the guess work out of real estate investing, by allowing you to find properties and valuate them in seconds.

An early step that you will want to take in the process of learning more about fix and flip real estate investing is to look at local and state laws concerning the buying and selling of property in the town where you are considering purchasing property. In many, there are certain lengths of time in which you must live in any house that you buy, and if it is a long length of time, it may not work to your advantage to use that property to flip. For questions about local and state laws, you will likely want to consult with an attorney who can answer your legal questions knowledgeably.

If, after reviewing the laws that cover this area of fix and flip real estate investing, you wish to continue in this pursuit, the next process would be to find foreclosed properties. This is where REO GoldMiner.com can help you. As a member to REO GoldMiner.com, you can find distressed homes in your area and valuate them at the same time.

After you find foreclosed properties, with REO GoldMiner.com, the next step is to analyze how you will pay for the home. One way to go about purchasing foreclosed homes is to pay for them yourself, and this is the simplest way if you have enough cash on hand to make the purchase. An additional way is to get a house loan through a financial institution. As with any type of mortgage, you will be offered a better loan term the higher your down payment can be, so part of your strategy might be to acquire a large down payment prior to starting in foreclosure investing.

If the point of purchasing foreclosed properties is to see a return on your money, then you will want to make any required repairs as inexpensively as possible and turn around and sell the house as fast as you can. Ways that investors try to make a greater profit is either with purchasing foreclosed homes that are in better shape so that little rehabilitation is necessary and can be sold quickly, or selecting properties that are in poor shape because they can be bought for a very low price, with the understanding that they will have to be repaired more extensively.

Foreclosure investing should not be embarked upon lightly; it is best to read and gain all the information and tips that you can before you begin in order to have the best opportunity for success in this endeavor. REOGoldMiner.com offers access to coaching, training, and information to help you build a profitable real estate busines.

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“What is it worth?” is the most frequently asked question in investing.

Whether you find a deal at www.REOGoldminer.com or a property on your block, valuation is a decision making process that must be done. Every valuation poses a problem which an investor must identify and select applicable ways in estimating a specified and definite worth.

The investor should turn valuation into a research project, because, the investor gathers systematically the information required in the analysis. Valuation process requires the following steps: 1. Putting together the data 2. Analysis of the data 3. Developing an Exit plan 4. Presenting an Offer

Data to be put togehter for valuation analysis must be valid and from a reliable source. www.REOGoldminer.com not only gets you REO deals but provides access to “appraisers secrets for investors” through our comp system. We provide accurate, valid, and current sales data and transfer history for your properties and their comparables. List prices are not reliable evidence, so you must have the closed sales data www.REOGoldminer.com comp system provides.

The gathered and verified information must be reviewed in order to derive the accurate valuation. At www.REOGoldminer.com, we offer the necessary training to show you what items to consider when determining valuation.

Don’t wait until the bank accepts your offer and you have closed on the property to decide how the deal fits into your investment plan. Create multiple exit strategies before you even present an offer. This will help determine your offer. Knowing whether the deal is a “buy and hold” candidate, a wholesale property, or a retail property guides the amount you will be willing to pay.

Making an offer is more than just calling a realtor and telling them what you want to get the property for. It also consists of determining the maximum you are willing to pay for a property. A wise investor has this amount in mind before they make their first offer. Spending a little time in the beginning will make you more profits in the end.

www.REOGoldminer.com will help you find the REO deals you have been looking for and help you valuate them all at the same time. A smart investor selects tools that will give them all the data and skill sets necessary to be a head of the game. www.REOGoldminer.com is the site to find the REO deals and get “appraisers secrets for investors” that will keep you one step ahead of your competition.

Bank owned foreclosure houses are also known as REOs. REO stands for real estate owned, and that is usually how banks refer to these types of property. After a bank goes through the foreclosure process, they frequently end up getting the property back because it doesn’t sell at auction. If no one bids enough to cover the debt on the property, it goes back to the back. Here are some things you should know if you want to buy a bank owned property.

The easiest way to find bank owned foreclosed homes is to contact a real estate agent. Most banks list their foreclosed homes with an agent just like anyone else who has property to sell. This makes it easy to locate most REO foreclosure houses. Just search the MLS listings on your favorite real estate website. Many of the lower-priced properties are likely to be REOs.

Of course, it helps if you call the right agent. Once you have found a few listings for REO foreclosed homes, you are likely to notice a trend. Most of these foreclosure houses are all listed by the same agents. That is because each bank usually selects one agent to list all of their foreclosed homes. This makes it much easier for the bank because they always know who to call. Now you need to make sure the agents who frequently list bank owned properties know that you are looking to buy one, so that they will call you when new foreclosure houses are listed.

Another way to find foreclosed homes that are owned by banks is by checking their websites. Banks often post lists of properties that are available. You can sometimes search by state or city, but depending on the bank you might have to wade through hundreds of listings to find what you are looking for.

Bank owned foreclosed homes are more likely than other real estate to have been mistreated or neglected in the past, so make sure you have a professional inspection done before you purchase one of these properties. Homeowners who know they are going to lose their home will sometimes damage the home or just stop taking care of it as well as they should. Banks can also be negligent about taking care of foreclosed homes they own.

Now you are ready to start looking for a bank owned property to purchase. You can often get a great deal on these if you are careful about what you buy, so these foreclosed homes are a great way to get into real estate investments or you can just use this information to get a good price on your next home.

Foreclosures and bank owned properties are an excellent way of starting to invest in property. Beware though – much of the stock has been on the bank’s books for some time now and an inspection is vital. The amount of bank owned property is still growing, and will be a source of income for many over the next few years.

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