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Property Management Blog

Distressed Sales. Great Deals?

Wednesday, June 22, 2011

Not a week goes by that I do not talk to some buyer prospect who states their interest in buying a distressed property. Word on the street is that these foreclosures, short sales, estate sales, HUD and Fannie Mae homes and the like represent the best deals the market has to offer. But is this true? Here are some quick hit random thoughts that I usually end up discussing (in no particular order):  Read More »

How much less than list price should I offer?

Sunday, December 19, 2010

The most common question I hear from prospective buyers is: "How much less from the purchase price should I offer?" Conversely, sellers have the same question: "How much of a discount do buyers expect to get? If I am willing to take $X, how much more than that should we make the list price?"   Read More »

Mortgage After Foreclosure?

Saturday, December 18, 2010

Recently someone submitted a question to Bankrate.com and asked about the possibility of getting a mortgage after a foreclosure (read the full article here). The article goes on to discuss how difficult it can be to get a mortgage after a foreclosure. But, the sad part is that it is becoming that hard for many people to get a mortgage for many reasons other than a foreclosure. Bankrate offers a solution that we here at Group 15 have been endorsing for a long time now: Lease Option! There are many advantages as a buyer to locking in on a Lease Purchase instead of just renting and paying your landlord's mortgage. And you can take the steps necessary in the interim while you are in the midst of your Lease Purchase to then be able to exercise your option and get that mortgage that is elusive to you at this present time.  Read More »

Who benefited from the Tax Credit?

Tuesday, August 17, 2010

In response to our last blog post about the tax credit I had a good discussion with one of our friends on facebook. She asked, "who really benefited from the tax credit: the buyer or the seller?" Of course, the general idea behind the tax credit was that the buyer would be getting a house at current market value AND would be getting $8,000. But, what if the prices were instead just inflated by $8,000 or more?   Read More »