Tuesday, September 28, 2010

Breaking Real Estate News: Condo Sales

Breaking Real Estate News: Condo sales down 23% from last year, according to CNBC ! Don't be troubled though; there are always opportunities in every market - you just need to know where to look ! Where do you look?

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Be well.

James Gage

Saturday, September 25, 2010

Foreclosure News: GMAC

Hello All:

GMAC announced today that they are halting all foreclosures and issuing a hold on selling all REO (Real Estate Owned) properties! What doe this mean? It means that they have finally seen the light!!! They have figured out that the more foreclosed properties they flood into the market for sale, the less money they will make on these properties because of market saturation. Is this a good move on their part? I say No!

My logic is this, a little bit of something, is better then a whole lot of nothing. What I mean to say is, that what are you going to do with these properties, hold them for the next 25 years, waiting for the housing market to improve? The way I see it the housing market will not rebound until unemployment retracts, government clues us in on the tax structure after January 2011, and we start supporting and encouraging small businesses to flourish.

So, in conclusion, I would say that short sales are still possible with GMAC you just have to be at the top of your Negotiating game.

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Until next time - be well.

James Gage


Thursday, September 16, 2010

Breaking Real Estate News: Foreclosures

According to CNBC Foreclosures last month were the highest since the housing crisis began! What does that mean? It simply means that home values will take another hit to the downside and housing inventory will sky rocket, forcing those who are trying to sell their homes to either drop their asking price, stay put, attempt to rent it out or get foreclosed upon if they can not make the payments.

Is there any good news? Yes of course for those of us who are leveraged investors, and use the power of Lease Options and Assignment Strategies.

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Until next time be well.

James Gage