Mortgage application denied? Don't despair By Polyana da Costa

Your mortgage application was denied. These words sound harsh, but they don't always mean you can't get a mortgage.
Lenders reject about 1 in every 2 applications they receive to refinance a mortgage, according to the Mortgage Bankers Association. About 30 percent of purchasers who apply for a mortgage are turned down.
Despite the tight lending environment, borrowers shouldn't always take "no" for an answer. In some cases, they just need to apply with a different lender or take a few simple steps to improve their credit.

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U.S. mortgage applications fall as refinance hits five-year low

Reuters) - Applications for U.S. home mortgages fell for a second week and hit a 13-year low as mortgage rates rose due to a bond market sell-off following the Federal Reserve's decision to pare its bond purchase stimulus in January, an industry group said on Tuesday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 6.3 percent to the lowest level since December 2000.

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Excel Spreadsheet for Flippers

The Maximum Purchase Price Calculator calculates the maximum price you should offer for a prospective rehab property based upon fixed costs (buying, holding, selling costs), repair costs, and desired profit.

The Maximum Purchase Price Dashboard offers a comprehensive investment analysis so you can make an educated offer, minimize risk and maximize profits!



 The Repair Cost Calculator allows you to create comprehensive repair cost estimates in a matter of minutes.  With a database of over 200+ common repairs/remodeling work items and unit prices, you will be able to create repair cost estimates that are more detailed and accurate in a fraction of the time.  

All unit costs are based upon average labor, material, equipment backed by current RS Means Construction Data and tailored to meet the needs of the average rehab project.  


The Inspection Checklist is a printer-friendly report that can be used to walk through potential rehab properties to quantify work items so you can create a detailed and accurate repair cost estimate!With over 100 most common repair items built-in to the checklist, you won't miss a thing!  Simply fill in the quantities of each work item as you walk through the property.


 The Repair Cost Report is a printer-friendly, professional-looking report that summarizes the repairs and their associated labor, material and subcontractor costs that can be given to business partners, lenders or wholesale buyers to show that you've done your homework.

The Scope of Work Report Builder creates a printer-friendly, professional-looking report that summarizes all the repairs required on the property that can be distributed to contractors to receive contractor bids.

Why is it useful?

The scope of work report can be printed and given directly to contractors, detailing the scope of all repairs including quantities of work.  Or if you have a SOW document that you typically use for your business, you can use the Scope of Work Report as a reference

 The Shopping List is a printer-friendly report that lists all of the materials included in your repair cost budget.  You can create a material shopping list to take to the home improvement store and streamline the material buying process, saving you time and money!
 The Punch List Report is a printer-friendly checklist that helps you close out your project strong so your can get your house on the market faster and in pristine condition.

Use our pre-built checklist with 65+ typical punch list items or alter the checklist to fit your business needs.


The Investment Report is a printer-friendly, professional-looking report that summarizes projected financial results, risks and opportunities for prospective rehab projects that can be distributed to business partners, lenders or wholesale buyers to show that you've done your homework.



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How to Find Motivated Sellers with Almost No Money

You can locate motivated sellers even if you have little or no money to work with. Way back in the early days of my business I used some very inexpensive techniques to locate very motivated sellers, since we only had a limited budget to work with like many people who are just starting out in the real estate business.

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Home building surges By Chris Isidore

Builders rushed to start homes in November, with that key measure of the housing recovery enjoying a huge one-month jump.

Housing starts grew at an annual pace of 1.09 million, up nearly 30% from a year ago. The issuance of building permits was also strong, up 7%.

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Central Florida Realtor Sales statistics November 2013

 Click below to read:

 http://c.ymcdn.com/sites/www.orlandorealtors.org/resource/resmgr/Images_Market_Pulse/MarketPulse122013.pdf

Bar chart showing our National Interest payment. If interest goes up so will our Taxes.

This bar chart depicts two sets of projections for the interest the U.S. government must pay each year on the debt held by the public. The Congresional Budget Office (CBO) baseline assumes policymakers follow current law. The Concord Coalition Plausible Baseline assumes policymakers alter the law to continue along the current policy path.

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Foreclosure crisis is winding down

The foreclosure crisis is nearing an end and won't derail the housing rebound underway in many parts of the country, real estate research firms say.
Foreclosure activity in November was down 37% from a year ago and 15% from October, RealtyTrac reports today.

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Don't Buy a House Until You Read This...

It is an empirical fact that on average, homeowners have a higher net worth than those who rent. Home ownership is a major part of the American dream. It increases community, creates stability for raising a family, and gives you the warm and fuzzies inside your heart when you gaze out onto your half-acre empire.
But don't for one second think that home ownership is all sunshine, rainbows, and ice cream sandwiches. There are serious trade-offs that you should know, understand, and accept before signing on the dotted line.
1. Mortgage debt -- a marriage you can't divorceAccording to the Census Bureau, the average home price in 2010 was $272,900. A traditional mortgage will finance 80% of that, or just over $218,000. At the same time, the Census Bureau also reported that median household income in the U.S. was just over $51,000.

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Home price gains slowing with winter's approach

Home prices rose by only 0.2% in October from September and virtually no growth is expected in November, market researcher CoreLogic says.
Still, prices were up 12.5% in October vs. a year ago, marking the 20th consecutive monthly year-over-year increase nationally.
"House price appreciation has slowed as expected for the winter," says Mark Fleming, CoreLogic chief economist.

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HUD rules are changing for INVESTORS

I am a HUD listing broker and I just received a memo from one of my HUD asset managers.  HUD is making a huge change in its bidding policy that will greatly affect investors wanting to bid on HUD homes.  My blog is primarily about investing in long-term rental properties and investors need to pay attention.  I detail how investors can bid on and purchase HUD homes in my investors guide to purchasing HUD homes.


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New Hidden Tax In ObamaCare Targets Home Sellers

Does this affect you?

Luxury real estate broker Ron Aioso says there is a tax that is rarely discussed that also helps fund Obamacare. It is a tax on high-income taxpayers when they sell their homes.

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Sadly a lot of Homeowners are going to hear this soon.

Over the life of the government’s Home Affordable Modification Program (HAMP), 1.25 million homeowners have received permanent HAMP modifications, and so far 27 percent of those have later re-defaulted on their loans, according to a quarterly report to Congress from the Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP).

In its report released to lawmakers last week, SIGTARP berated Treasury for not heeding the office’s previous recommendations regarding HAMP, stressing that the inspector general expressed concern in April that “the number of homeowners who have re-defaulted on HAMP permanent mortgage modifications is increasing at an alarming rate.”

About 184,000 homeowners (29 percent) who received HAMP modifications through TARP rather than through the GSEs have re-defaulted, costing taxpayers $972 million in incentives paid to servicers and investors for those workouts, according to SIGTARP. Among borrowers participating in the GSEs’ HAMP programs, just under 154,000 (26 percent) have re-defaulted (HAMP incentives on GSE loans are paid by the GSEs themselves). Additionally, about 10 percent of all active permanent HAMP modifications were one or two months delinquent as of the end of August.

“The longer a homeowner remains in HAMP, the more likely he or she is to re-default out of the program,”SIGTARP stated. The re-default rate among the oldest HAMP modifications is 48.3 percent, according to SIGTARP’s report.

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Real Estate Scam Of The Year

It would be bad enough to lose your home to foreclosure, but imagine how much worse it would be to be evicted from your home by someone who had no right to remove you and then watch as they rented out your property to someone else. A California man successfully executed a similar scheme for several years in Orange County, California, where he filed fake deeds that appeared to turn over properties to a business that he ran when, in reality, he did not even own the homes. Read the whole story: Click Here!

Creative Ways To Sell Your Home!

For Traditional and Creative Selling Strategies [including Short Sales, Wraps, Mortgage Payment Assignment, Lease/Optioning, and more...

Welcome to our new Real Estate Investing Blog

Welcome...if you're Looking to Sell Your Property , you've come to the right place! We represent a network of literally thousands of real estate investors and a handful of very specially trained Realtors that focus on "non-traditional" or "creative" real estate solutions ". If you are like most sellers, you want to explore how to sell your property fast and hassle free. We can help! That’s what we do... We Buy Properties Fast... regardless of condition, equity, or situation. We’ve handled just about every situation you can imagine. We buy with cash. We even have many creative solutions available. We are experts. For example, did you know there are at least a 12 Different Ways to Sell Your Property that Realtors won’t tell you about? Checkout our We Can Buy Cash Website!