Foreclosures Hit Record Highs in San Antonio
San Antonio foreclosures have hit record highs, as My SA Business reports that the numbers are up 40% from this time last year. The situation is reminiscent of 1987’s oil bust when “half of all local home sales were foreclosures.” Despite this seemingly desperate situation, professionals report that it has had little impact on the market for new or resale property.
The Art of Being a Real Estate Investor
The Daily Press writes on how to use the recent upswing in foreclosures and mortgage defaults to help homeowners avoid foreclosure. Working out deals with these homeowners will allow motivated sellers to sidestep a potentially painful process and result in great discounts for investors! This article provides many ways to approach these situations, with tips like searching for homes with the most equity and being aware of restoration costs.
Americans More Unhappy With Feds’ Housing Fixes
Business Week reports that despite a number of federal efforts to stabilize the housing market, including tax credits and foreclosure programs, people are still critical of the slow process. According to the article, they feel that lower interest rates and extra measures for foreclosure prevention are still needed. Notwithstanding procedural glitches, the number of people interested in real estate investing has reached 12.1% of home buyers (up from 5.6% in March!)
18 Things to Help Pick a High Appreciating Neighborhood
Reviewing factors that lead to future appreciation could help you make wiser investments. Exit Real Estate 540 lists 18 of these factors that will help ensure that the property you choose is a safe bet. Look beyond obvious determinants like great schools and low crime rates, to lesser known details like common areas and sufficiently lit streets.
Getting Tenants in Tough Times
Brendan O’Brien for the Bigger Pockets Blog comments on the new competition between landlords for a dwindling pool of tenants – and what you can do to stay on top. While discouraging against both the “rent I need” mentality and discounting, O’Brien does advocate flexibility. He offers many methods for increasing occupancy this way, including shorter lease terms and the allowance of pets.
FHA is Running Out of Money
Through providing loans to those with less than desirable credit, the FHA has managed to sustain the housing market for the last year. But all these practices and programs have resulted in a huge financial strain that the agency may be unable to bear. With a new set of mortgage defaults due to record unemployment impending, the FHA might have to resort to a government bailout. The Real Estate Bloggers suggest that if this happens, borrowers will have to rely on the increasingly strict requirements of banks.
Why Similar Homes For Sale Can Vary in Price by More than $20,000
Noel Peebles of Ezine Articles discusses why some seemingly identical homes sell for drastically different prices. Listing several reasons for this such as the motivation of buyers, sellers, and vendors, negotiation skill, and the prestige of the neighborhood, Peebles offers useful insight on what to look for when evaluating price differences.
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