Hello All:
According to CNBC on Friday, another banking giant has placed a hold on foreclosures in 23 states! Who is that giant? JP Morgan! As in the other banking institutions, this does not mean they will not do any short sales, rather they will be very selective and turn around times might be a little longer then normal. This is where your negotiating skills come in - you have to be at the top of your game with every submission.
To learn how you can take your negotiating skills and turn them into seed money for your real estate transactions please visit: www.NegotiatingForALiving.com
Be well and happy investing.
James Gage
www.JGage.com
Saturday, October 2, 2010
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?
For more up to the minute real estate investing news, sign up for our Free Newsletter by Clicking Here
Be well.
James Gage
For more up to the minute real estate investing news, sign up for our Free Newsletter by Clicking Here
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.
For more information and tips on leveraged real estate investing and negotiating for profit, please visit our website and sign up for our Free newsletter: Click Here
Until next time - be well.
James Gage
www.JGage.com
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.
For more information and tips on leveraged real estate investing and negotiating for profit, please visit our website and sign up for our Free newsletter: Click Here
Until next time - be well.
James Gage
www.JGage.com
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.
For a Free Subscription to my Leveraged Real Estate Investing Newsletter click here
Until next time be well.
James Gage
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.
For a Free Subscription to my Leveraged Real Estate Investing Newsletter click here
Until next time be well.
James Gage
Monday, August 30, 2010
Real Estate Investing : August 2010 Article of the Month
How to Prevent Wasting Your Valuable Time As A Real Estate Investor
No matter where you are on the financial ladder or your position in society, we all have something in common, and that is, we all have 24 hours to utilize in a day. With that in mind how many times have you found yourself chasing your real estate investing tail? How much time have you invested in deals that go no where but down the drain?
This is what I suggest you do before you even attempt to look at a property. A few weeks ago I sent you a link to a video I did on how to do a mini-title search, which shows you what kind of liens, judgments and or encumbrances are on the property, so you may figure those factors in when evaluating a property. You can view that video at : http://www.youtube.com/watch?v=BAV0aPhPl-c
Now the question arises; what happens if your state doesn’t provide this type of data available online. Here is a way around that problem! Get 1 or 2 Realtors that you use for the viewing of investment properties and have them do the leg work for you at the courthouse; teach them what I have shown you on the video. Make sure they understand the process for gathering the data before you expend any of your valuable time looking at properties. That being said, the Realtor must do 2 things for you before you agree to meet with them and view the property: 1. verify the property is still for sale and has no other offers pending, and 2. make sure you have a list of all liens, judgments and encumbrances that appear on the property.
If you follow theses simple steps you will leverage your front end time of your real estate investing plan.
Hope this helps.
James Gage
www.JGage.com
No matter where you are on the financial ladder or your position in society, we all have something in common, and that is, we all have 24 hours to utilize in a day. With that in mind how many times have you found yourself chasing your real estate investing tail? How much time have you invested in deals that go no where but down the drain?
This is what I suggest you do before you even attempt to look at a property. A few weeks ago I sent you a link to a video I did on how to do a mini-title search, which shows you what kind of liens, judgments and or encumbrances are on the property, so you may figure those factors in when evaluating a property. You can view that video at : http://www.youtube.com/watch?v=BAV0aPhPl-c
Now the question arises; what happens if your state doesn’t provide this type of data available online. Here is a way around that problem! Get 1 or 2 Realtors that you use for the viewing of investment properties and have them do the leg work for you at the courthouse; teach them what I have shown you on the video. Make sure they understand the process for gathering the data before you expend any of your valuable time looking at properties. That being said, the Realtor must do 2 things for you before you agree to meet with them and view the property: 1. verify the property is still for sale and has no other offers pending, and 2. make sure you have a list of all liens, judgments and encumbrances that appear on the property.
If you follow theses simple steps you will leverage your front end time of your real estate investing plan.
Hope this helps.
James Gage
www.JGage.com
Wednesday, August 11, 2010
Breaking Real Estate News
Hello All:
James Gage here with Breaking Real Estate News….
Home Owners who have their homes up for sale decreased their asking prices by 25 % in the month of July 2010 according to CNBC ! What does that say about our housing market??? As I have been saying for the last year, we haven’t hit bottom yet and we should price and buy our properties accordingly.
Be well and to your success.
James Gage, www.JGage.com
James Gage here with Breaking Real Estate News….
Home Owners who have their homes up for sale decreased their asking prices by 25 % in the month of July 2010 according to CNBC ! What does that say about our housing market??? As I have been saying for the last year, we haven’t hit bottom yet and we should price and buy our properties accordingly.
Be well and to your success.
James Gage, www.JGage.com
Saturday, July 31, 2010
Real Estate Investing: Will Pregnancy Prevent You From Getting a Loan?
Hello All:
There has been a lot of talk about banks and mortgage companies denying loans to women who are pregnant or have just delivered- is this true? Face value it might look that way, but it just isn't so - let me explain.
First off this has nothing to do with pregnancy. There is nothing new here at all. We are talking about mortgage guidelines! We are in a Full Documentation World now and they, the banks and mortgage companies need to document income and employment.
Here is how Employment and Income is verified by the powers that be:
• Review pay stubs, W2's etc... If the stubs mention disability or maternity leave it is a red flag
• Call the employer: "Does Jane Doe work there?" This call is often made just before closing since guidelines require a "fresh" verification. If the borrower is on a temporary leave it WILL cause a problem.
Why? It is pretty simple, mortgage guidelines require income streams to last at least 3 years to be considered for qualifications. Maternity leaves are not permanent income, they are often only for a few months and may only be a form of short term disability.
Will a loan be denied if some one is on maternity leave? No, But the closing may be postponed until the borrower returns to work. The guideline has always required a pay stub to prove the borrower has returned to work. This is not just for Maternity leave, it could be for any form of temporary disability.
This is not a discrimination item; it is purely an income issue. It is also Mortgage Banking 101... The basics that have been in the underwriting guidelines for decades. So be careful of what you read, and the source is important as well. A lot of the uproar was from an article floating out in the media that sensationalized guidelines as if they were some new 2 headed beast, The media often takes the side of an issue that will sell things rather than inform accurately.
Now that we have that straight happy investing.
To your success,
James Gage
There has been a lot of talk about banks and mortgage companies denying loans to women who are pregnant or have just delivered- is this true? Face value it might look that way, but it just isn't so - let me explain.
First off this has nothing to do with pregnancy. There is nothing new here at all. We are talking about mortgage guidelines! We are in a Full Documentation World now and they, the banks and mortgage companies need to document income and employment.
Here is how Employment and Income is verified by the powers that be:
• Review pay stubs, W2's etc... If the stubs mention disability or maternity leave it is a red flag
• Call the employer: "Does Jane Doe work there?" This call is often made just before closing since guidelines require a "fresh" verification. If the borrower is on a temporary leave it WILL cause a problem.
Why? It is pretty simple, mortgage guidelines require income streams to last at least 3 years to be considered for qualifications. Maternity leaves are not permanent income, they are often only for a few months and may only be a form of short term disability.
Will a loan be denied if some one is on maternity leave? No, But the closing may be postponed until the borrower returns to work. The guideline has always required a pay stub to prove the borrower has returned to work. This is not just for Maternity leave, it could be for any form of temporary disability.
This is not a discrimination item; it is purely an income issue. It is also Mortgage Banking 101... The basics that have been in the underwriting guidelines for decades. So be careful of what you read, and the source is important as well. A lot of the uproar was from an article floating out in the media that sensationalized guidelines as if they were some new 2 headed beast, The media often takes the side of an issue that will sell things rather than inform accurately.
Now that we have that straight happy investing.
To your success,
James Gage
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