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):

When meeting with a new seller client one of the first questions they always have is: "What do I need to do to get my house ready for showings?"  Every house will have varying levels of de-cluttering, cleaning, painting, repairs and updating.  And most people want to stay focused on interior improvements.  But, the number one thing that every house needs is immaculate curb appeal.  

One of my favorite blogs, Calculated Risk, recently posed ten economic questions to ponder for 2011.  Here are my quick hit answers to some of those questions: 1. House Prices: How much further will they fall and will they bottom out in 2011?

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?" I consistently remind both buyers and sellers that this is not the right approach to negotiating a sales price.  I actually try to get my buyers to ignore the list price as much as possible.  Every house and every seller is different.  Perhaps the seller was shooting for the moon when they chose that list price or perhaps they listed it at a great discount to make sure they could sell it quickly.  Thus, it is best to actually set the list price aside and remove the guessing game of the seller's state of mind.  Instead, focus on two things:

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.

Where do interior designers go for trendsetting ideas and out-of-the-box design ideas? PJ Wade gives us an insider view of The Interior Design Show and tips for 2013.

The class of persons about whom Realtors® should not knowingly or recklessly make false or misleading statements has recently been expanded. An examination of what this means and how it came to pass may be of interest.

As we begin 2012, all real estate investors need to pay very close attention to the ever changing tax landscape. Particular attention needs to be paid to the significant tax increases slated to occur in 2013.

More than 40 states have signed on to a draft deal settling claims of improper mortgage servicing that's aimed at relieving homeowners struggling with loans bigger than their home's value.

Lean times call for budgetary triage. But while you should clearly opt for orthodontics before Disneyland, the choice is tougher when it comes to home maintenance.

States have until late Monday to agree to the latest draft deal aimed at relieving homeowners struggling with mortgages bigger than their home's value.

Just one day after President Obama detailed a proposal to enable millions of homeowners to refinance to record-low mortgage rates, those rates notched another record.

President Obama's latest probe into the mortgage meltdown will have more power than past efforts, and federal officials say it won't derail a possible $20 billion settlement for underwater and foreclosed homeowners.

TweetThis neighborhood has some good opportunities.

TweetSteele Creek Area Homes. Check out http://en.wikipedia.org/wiki/Steele_Creek,_North_Carolina for more information on the area.

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