Extended and Expanded Tax Credit Expires 4/30/10

The Clock is Ticking...
Extended and Expanded Tax Credit Expires 4/30/10

For prospective homebuyers who are on the fence about making a home purchase, the next few months represent a countdown of sorts as huge tax credits are about to expire. Here are important details for you to know:

Tax Credit for First-Time Homebuyers (FTHBs)
FTHBs (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for FTHBs is 10% of the purchase price of the home, with a maximum available credit of $8,000. Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.

Tax Credit for Current Homeowners
The tax credit program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years. Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.

What Are the New Deadlines?
In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010. Those in the military do have some special extensions on the timelines available.

What's So Great About a "Tax Credit"?
The benefit of a tax credit is that it's a dollar-for-dollar benefit, rather than a "tax deduction", or reduction in a tax liability that would only save you $1,000 to $1,500 when all was said and done. So, if a first-time homebuyer who qualified for the entire benefit were to owe $8,000 in income taxes and would qualify for a tax credit of $8,000, she would owe nothing.

Better still, the tax credit is refundable, which means the homebuyer can receive a check for the credit if he or she has little or no income tax liability. For example, if a first-time homebuyer is eligible for a tax credit of $8,000 but is liable for $4,000 in income tax, she can still receive a check for the remaining $4,000!

Higher Income Caps
The amount of income someone can earn and qualify for the full amount of the credit has been increased. Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible. Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.

Maximum Purchase Price
Qualifying buyers may purchase a property with a maximum sales price of $800,000.

It's also important to note another upcoming deadline as the Federal Reserve winds down a program that has been keeping home loan rates artificially low. The fact is that the lowest rates of 2009 were driven down to their attractive levels because of the Fed's Mortgage Backed Securities (MBS) purchase program, which the Fed once again emphasized in its January 27, 2010 Rate and Policy Statement will end on March 31, 2010. As the Fed's program winds down and ends, rates could rise over time since MBS will have less support from the Fed.

If you have any questions regarding the tax credit, pick up the phone and call me. I'm here to help you take advantage of one of the greatest opportunities homebuyers may ever have.

by Dennis London | 0 Comments

Priced to Sell?

by Dennis London | 0 Comments

Thoughts about Selling!!

by Dennis London | 0 Comments

The Market Is Changing- Bidding Wars Have Begun

You have to be joking, right?  Are you telling me that bidding wars are starting to occur for homes for sale?  In case you fell asleep for about 5 years, this isn’t 2004.

In all seriousness, this market is changing and local pro’s can feel it and are acting according in many locations across America.  The interesting thing is that the “regular” house buyer market is still weak but the professionals are grabbing properties like the San Francisco gold rush.

There are several things that are driving this and point to a recovery in the regular housing market:

• Bidding wars now for severely discounted properties;
• Record rental returns;
• Unbelievable amounts of CASH BUYERS moving in; and
• A 3 month trend started in regular home sales.

Bidding Wars

Bidding wars are literally occurring for severely discounted bank REOs and short sales.  Consider this quote from a recent Pheonix Market Trends:

“We have a short sale coming on the market soon at a normal market price.  Currently it’s being prepped and he tenant is moving out, though we have put a few ads out there to see the reaction and create an auction effect which will possibly give us several strong offers to present tot he lender and get this property sold.  The response is quite amazing.  We have a long list of people just waiting for it to come on the market.”

Now, there are an average of 5 offers per home, if priced appropriately.

by Dennis London | 0 Comments

What is the difference between a condominium, homeowners’ association, and a residential co-operative?

What is the difference between a condominium, homeowners’ association, and a residential co-operative?

A condominium is a relatively new form of property ownership created by statute which allows persons to buy and sell apartments within a building. This form of ownership can take almost any architectural form. The declaration of condominium sets forth the boundaries of a number of units and of the common elements of the association. Typically, a unit consists of the air space bounded by the surfaces of the walls, floor, and ceiling. The property other than the units is the common elements, which typically includes the actual real estate, the buildings themselves, all structural components, the grounds, and exterior areas. In addition to owning the air space that consists of a unit, each unit owner also owns a percentage of the common elements (as tenants in common with all other unit owners) according to the percentages set forth in the declaration.

A residential cooperative is usually an apartment building that is owned by a corporation. The shareholders or members of the corporation are entitled to lease one of the apartments. The proprietary lease is entered between the member and the corporation. In the past, co-operatives would have a mortgage on the entire premises and each member would pay a share. In recent years and in some places, it has been possible for members to purchase a co-operative through various financing vehicles.

The concept of condominiums was created, in part, due to the problems of cooperative ownership because with a condominium the owner can more easily and freely buy and sell and obtain mortgage financing on the apartment. In certain areas of the country, such as New York City, co-operatives are quite common.

Although both a condominium and cooperative can be considered a homeowners’ association, the HOA is usually thought of as a non-condominium association. Typically, each members owns his or her own Lot in the same way as a single family homeowner. However, the surrounding common areas are owned by the Association for the benefit of the homeowners.

Many of these associations are multi-family housing buildings, such as townhouses, and the association performs exterior maintenance on the buildings. However, a homeowners’ association can be a neighborhood association of single-family homes or of a mixed community, and it can have a very limited scope of operation such as road maintenance, or operation of recreational facilities.

There are significant differences between these types of community associations and the application of law sometimes turns on these differences. However most of association law applies generally to all kinds of associations. One is generally safe in assuming that the law of one type of ownership will be applied to other forms (by analogy) unless there is a specific reason why the law should treat differently the various forms of cooperative ownership.

by Dennis London | 0 Comments

An education in market terminology

As a real estate agent, I sometimes forget that all of the new terminology at the forefront of our market may not be well understood. In an effort to clear things up and make sense of it all, I have decided to educate everyone on the legalese behind the distressed property world.The unraveling of financial systems worldwide, specifically the real estate market, has brought the terms "short sale," "foreclosure" and "Real Estate owned" into the limelight. I am often asked about the differences between them, as they are important to buyers and sellers alike.

Short Sale: A short sale is exactly what it sounds like. It is the sale of real estate whereby the amount owed to the lender(s) is more than the ultimate sales price; therefore, the seller comes up "short" and essentially must work it out with the lender/bank before a final sale can be approved. These types of sales are so common at this point, it is almost comical. Home values have retreated to such levels that a majority of homeowners have negative equity in their homes. While it's of no material consequence if you plan to stay in your home and ride it out, it is of considerable concern if you are a homeowner needing to sell. Selling a home in this environment is tough enough. Adding a dimension whereby you hope the bank will [1] not only allow you to sell the home at a loss and [2] agree to waive the deficiency is a tough go without fierce negotiation.

Foreclosure: This is the end of the road for the unsuccessful short sale. The easiest way to explain it is as such: When a home is sold as a short sale, it is listed just like any other property. The caveat is that a third party (lender) must approve the final sale (a seller in this scenario may not execute without lender authority unless you are making up the shortfall at closing, therein writing a check at close). If the home does not sell, or alternatively, if buyer, seller and third party lender cannot come to terms, the lender(s) may be forced to prosecute, resulting in the filing of a notice of default.

Real Estate Owned: REO properties are the final straw. Commonly referred to as "bank-owned properties," this is the term used to identify properties that are not fortunate enough to yield any buyers during the foreclosure phase or even an auction phase. If there are still no buyers, the property becomes an REO and is sold in the open market with the bank as the new "owner of record."The technical differences, in reality, come about by way of who actually owns the asset at the time of sale. The most important thing to remember as the seller of a distressed property is the need for aggressive representation at the onset. The difference between the ultimate sale of a short sale, foreclosure or REO is negligible to the buyer, but to the seller it can have serious implications toward creditworthiness going forward.

 In the short sale scenario, although your credit is "dinged up" due to late mortgage payments, that, in essence, is repairable versus a foreclosure which adds the ominous word "default" to your credit history and basically serves to blacklist you from being extended credit for years to come. You should fight tooth and nail to avoid a foreclosure as your ability to get on with your life, to buy a car, a boat, a home or to even get a credit card will be severely compromised. Care to talk some more? You know where to find me.

by Dennis London | 0 Comments

Top 10 Home Buying Tips For Short Sales – A Guide To Understanding Short Sale Foreclosure Real Estate

Modern homebuyers will inevitably come across one or more properties currently classified as a short sale. A short sale is an attempt by the current owner to sell a home in lieu of the bank taking it back through foreclosure proceedings, thus partially salvaging their credit rating and lifting the burden of heavy mortgage debt. The entire short sale process hinges on the hope that the bank will take a loss now, approve the sale, and eliminate the costly process of foreclosing, clearing, and reselling a home. Obviously, this is a big hope on behalf of prospective homebuyers as well and they need to understand some things in order to lessen the chance for disappointment of unapproved short sales. This is what they should know:

1. Price is usually set by the agent & seller, not bank: The agent and seller often create a very low asking price in order to attract buyers. The bank is normally unaware of the asking price; however, the bank has the final say in what an acceptable offer will be. Since the bank has the power to ultimately accept or deny offers, their lack of price awareness often leads to the process taking longer than anticipated. The bottom line is that the buyer needs to remain positive and patient throughout the entire process, sometimes even for months.

2. Loans owned by 1 bank usually better than 2: If the seller has loans owned by two different banks it is a lot more difficult to approve the short sale. This is something the agent or the buyer cannot control; it simply depends on the willingness of the bank or banks involved. While the reasons are beyond the scope of this guide, buyers should know that when the seller only has loan(s) with one bank the short sale often becomes more buyer-friendly. A savvy Realtor can let you know this type of information.

3. Lowball offers get slow or no response: Remember that the bank is typically unaware of the pricing during a short sale. When lowball offers stream into the bank they are often scoffed at and rejected, giving the prospected buyers little or no feedback. Surprisingly, it may also take painstakingly long to hear back even on good offers due to the high volume of transactions lenders are inundated with these days.

4. Agent must check comparables before submitting offer: The agent must be sure to check recent home sales in the area to give buyers a better idea of the properties that are selling. This will give the agent and the seller appropriate grounds for an asking price that will be more likely to be approved by the bank. Checking comparables will also give the buyer a better knowledge of what price homes in the neighborhood are selling for and ultimately make them a more informed homebuyer.

5. Don’t hang your hat on the property: Short sales aren’t necessarily "short." It can sometimes be a very long process. Don’t get your hopes up for just one property, keep your options open and continue to actively look at multiple properties. Buyers must remain optimistic, the right property will come along. In most areas it is completely legal and risk-free to have multiple offers out at any given time with the proper contingencies.

6. Sellers with other properties or too strong of financials may not qualify for short sale and/or may be asked to pay the difference: Sellers that own more than a handful of properties or have an extremely large net worth will probably not be eligible for short sale. In some cases the seller will be asked to pay the difference of the sale. The seller might even need to sign a promisary note stating that they will pay back all or most of the debt. This has virtually no effect on the buyer as long as the seller cooperates.

7. "Approved" prices are quickest: It is important to remember that short sales are not always timely; however, making an offer on an "approved short sale" can be a quicker process. An "approved short sale" has a price that has already been given the green light by the bank. This could be due to the fact that another interested buyer made an offer that was approved, but didn’t end up buying the property. These types of short sales are some of the most highly desirable.

8. Some banks look want strongest buyers, some want strongest offers: The bank has all the power in approving short sales. The bank can pick the most appealing buyer, which may mean different things to different banks. Some banks may prefer the buyers with large down payments while others just want the highest price regardless of down payment. Many buyers want to know if they will get a deeper discount for an all cash offer. This is very hard to predict and one will never really know until they make an offer. As long as the buyer is surrounded by a good team we would advise them to do just that.

9. Repairs are seldom done, credit is more frequent: If there are improvements that need to be made on a home, even if they are necessary to get a loan, it is often unlikely that they will be done. Typically there is some sort of credit issued and the buyer must take the responsibility of fixing anything that is broken.

10. When you get approval, must close on time: During a short sale there is no leniency with the closing escrow date as there often is in a traditional sale. During a short sale, exceptions are rarely made and the buyer must close on time. Because of this, it is important to take care of all loan paperwork immediately after opening escrow. We’d advise buyers to be extra prepared and try to have the loan finalized a few days in advance of the closing date. If there is going to be an issue that will prevent closing on time, a request for an extension will need to be made immediately. If the request is made early enough, many banks will grant an extension but don’t just assume it will happen.

Short sales can be a great opportunity to find your new home at a competitive price. A Short sale could also be a major headache that lasts for months. It is important to have a good understanding of the factors that lead to a successful short sale to make it an enjoyable and profitable experience. We hope that these tips will help you to remain positive and optimistic throughout the process

by Dennis London | 0 Comments

2 Story For Sale in Pembroke Shores

NOT A SHORT SALE

• 2,754 sq. ft., 2 bath, 4 bdrm 2 story - MLS® $349,900 - Spacious 4/2 Pool Fenced

Pembroke Shores, Pembroke Pines  -  Beautiful 4 Bed/2.5 Bath 2 Story Home w/ Pool and Private Fenced Yard. Master Bedroom Upstairs, Upgraded Flooring, High Ceilings, 2 car garage - Quiet area, Great for Family, Spacious Floor Plan, Very Large Home, Located in Prime Subdivision "The Beaches at Pembroke Shores", a Gated Community, with 24 hour Security.

**** NOT A SHORT SALE***NOT A FORECLOSURE***

Property information

by Dennis London | 0 Comments

Market Recovery!

The Highway To Market Recovery Is Well Mapped

Residential markets will follow same road, but at different speeds. Anyone who has ever driven a car knows what it feels like to be lost, men included, even if they won’t admit it. People are feeling that same sense of panic today because they are finding themselves in unfamiliar economic territory. The surroundings look different to them because the changing real estate market is leading them down a road that most have never traveled. A handful of people vaguely remember being on this road before, but so long ago that even they have a worried look on their face. Relax, there is no reason to be worried or panicked because there is a difference between being lost and not knowing where you are. You can only be lost if there is no one around to give you a road map or directions. We don’t have that problem because there are plenty of helpful folks willing to give their opinion as to how to get back on the highway to recovery. In fact, there are too many helpful hands (and opinions) pointing and giving all kinds of different directions. Meanwhile, we sit idling, hoping we have enough fuel in our tank to make it to better days. All real estate bubble markets and submarkets will follow the same road to recovery. However, not all markets will recover at the same speed. Real estate bubble markets are formed because there is an extended period of irrational growth. Irrational growth is defined as a growth rate that is not supported by the buyers who will actually use the property. It is important to remember that investors can fuel a market, but it takes users to sustain it. ROAD MAP TO MARKET RECOVERY Our market’s binge buying spree, which was driven by heavy investor participation, happened in 2004 and the first half of 2005. Prices were driven up to foolish levels, which caused confidence to erode to a point that the market started reversing its direction during the second half of ‘05. At that point, irrational growth was replaced with irrational decline. This road needs no definition because we have been on this path for three years, and everyone is screaming to the driver “Are we there yet?!” Greed was driving the irrational growth market, now it is fear’s turn behind the wheel. Fear drives too slow for my taste. Ironically, everyone wants to know when the market is going to recover. That’s like asking when a broken leg is going to heal. Technically, the leg begins to heal right after the trauma happens. However, the break will heal faster if the bone is set properly, but the setting process can add pain to an already painful event. Likewise, our market began healing as soon as the bubble burst, and we experienced the trauma of watching prices plummet, back toward the real value line. The healing process has been slow, but it could have been accelerated if sellers would have endured the additional pain of setting their prices correctly a year or two ago. As it stands, we are beginning the fourth year of recovery, and the condo market is still in traction. The single-family market’s recovery has progressed much faster, as some submarkets are actually getting around in a walking cast. Full recovery cannot happen until buyer confidence returns. However, the buyers’ confidence will not return until prices fall below the real value line. It’s as if the buyers are going to penalize sellers for getting greedy back in ‘04. Buyers must feel confident that what they are buying represents a real value, a tall order in a market where perceived value changes as often as gas prices. A few submarkets, such as closeout inventory from developers, bank-owned property and some of the short sales, are already below the real value line. In fact, it is safe to say that if you can buy anything for less than its replacement cost, that product is below the real value line, which means it’s fairly close to meeting the buyer confidence point. In addition, some geographic submarkets, are closer to reaching the bottom of the curve than others because they do not have as much excess inventory. Therefore, their price reductions will not be as severe, and they will see confidence enter the market well ahead of the oversupplied markets. There is only one road to recovery, and like the Autobahn, there is no speed limit. All market segments will fully recover, eventually. But if you are a seller and are tired at moving at the same pace as your market segment, then speed up. All you have to do is drive your price down a little faster and you will find a buyer much sooner. After all, you now know that the buyers are located south of real value, near where confidence enters the recovery highway. Keep the faith.

by Dennis London | 0 Comments

Single Story For Sale in Southwest Ranches

Seperate Greenhouse-Guest House-Workshop

• 3,123 sq. ft., 3 bath, 4 bdrm single story - MLS® $749,000 - ONE-OF-A-KIND 5 TTL BLDGS

Southwest Ranches, Broward County  -  ONE-OF-A-KIND OVER 4000 SQ FT OF LIVING SPACE**GORGEOUS KITCHEN, SS APPLIANCES, CORIAN COUNTERS -CENTER COOK ISLAND WITH UPDRAFT- KRAFT-MAID CUSTOM CABINETS w/ SELF-CLOSING DRAWERS-SURROUND SOUND IN HOUSE AND POOL AREA!

VERY PRIVATE! TOP QUALITY SECURITYSYSTEM! PROPERTY INCLUDES 1-HOUSE 2-SHED, 3-GLASS FLORIAN GREENHOUSE, 4-GARAGE/WORKSHOP 5-GUESTHOUSE WITH HURRICANE WINDOWS! HUGE PATIO/SCREENED LANAI, HOTTUB STAYS! SUPURB CRAFTMANSHIP! 3 AIR CONDITIONING SYSTEMS! 2 GATED DRIVEWAYS! VERY PRIVATE!

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How the Subprime Mortgage Mess Began

The federal government made the subprime mortgage mess inevitable when it imposed social engineering rules on private mortgage contracts. The long process began with the 1975 Home Mortgage Disclosure Act (HMDA), the 1977 Community Reinvestment Act (CRA) and the regulatory bureaucracy that these two legislative acts required.

Over the next thirty years, the subprime mortgage market emerged, banks and S&L’s shifted half of their mortgage lending to lines of credit to mortgage brokers not covered by HMDA and CRA and federal bank regulators ignored poor underwriting practices as long as the HMDA statistics showed a rising acceptance rates for mortgage applications for low income and minority households.

The HMDA required banks and other regulated mortgage lenders to report mortgage application acceptances and rejections by the race, age, sex, income and the geographic location of the applicants. This was in response to charges that some lenders had “redlined” poor and minority neighborhoods, refusing to approve mortgages in neighborhoods where they believed people typically had poor credit and home price appreciation was relatively low.

The first set of HMDA statistics showed a lower acceptance rate for low income and minority mortgage applications and led to the enactment of the CRA. This legislation required banks and other regulated mortgage lenders to show improving performance in accepting low income and minority mortgage applications in semiannual audits or face rejection by bank regulators of their requests to open branch banks, acquire another bank or take any action subject to regulatory approval.

The law allowed any community group to object to bank actions requiring regulatory approval if the group believed a bank had an unacceptable record in mortgage lending. The consequence was that a bizarre process emerged in which banks seeking regulatory approval for any expansion plans had to negotiate with community groups and reach an agreement to loosen underwriting standards for low income and minority mortgage applications.

These agreements often included setting up a mortgage fund that would only lend to low income and minority applicants. This often was accompanied by opening offices in low income and minority neighborhoods, providing mortgage application and foreclosure counseling, donations and subsidized loans to community groups and lowering downpayment and income verification requirements. Banks reluctantly accepted this as a cost of doing business in the profitable markets for prime mortgages.

The number of subprime, CRA or “affordable” mortgage loans increased progressively for twenty years but remained well below 10% of the mortgage market. The default rate was several times higher than for prime mortgages but the total default cost was not large enough to threaten the profitability of the overall mortgage business.

Then a 1995 amendment to the CRA permitted securitization of these loans. This changed everything. The bond market could now be tapped to fund CRA loans. Investment bankers very profitably packaged CRA mortgages for bond buyers. As incredible as it now seems, these bonds were rated AAA, making this new source of mortgage funds very inexpensive and “OK” to buy by public and pension funds restricted by law to top rated bonds and other investment funds that shunned low rated bonds.

The AAA rating was an illusion that was ignored by bank regulators, the overseers of pension funds and the Securities and Exchange Commission. How were the bonds rated AAA? The bond rating companies and the bond insurers did not have easy access to the individual mortgages. Absent this they relied on the guarantees provided the banks that pooled the mortgages and sold the bonds to finance them. Often banks created “off the books” paper entities, shielded from their regulators and stockholders. Isn’t this what Enron did?

The illusion was that bond insurers and the banks that packaged the mortgages could meet their commitments to bondholders if the foreclosure rate moved well above the low historic rate. But the historic rate was from an economic environment with ever rising home prices, building equity for mortgage holders, minimal outright fraud by mortgage applicants and mortgage lenders and brokers, no teaser introductory mortgage rates and loose but not absent income verification standards.

The subprime, CRA or affordable mortgage market began to expand very quickly. Everybody was a winner. Low income households got to buy a home. Mortgage brokers, bond raters, bond insurers, real estate brokers and mortgage packagers all got more commissions. CRA auditors were pleased that low income and minority households got better access to mortgages.

To generate more mortgage paper and hence more commissions, mortgage brokers and banks progressively lowered underwriting standards with the tacit approval of CRA auditors and community groups. This spawned no downpayment and no income documentation loans. It was sufficient that an applicant with a poor credit record and income too low or too insecure was taking a credit counseling course.

From the late 1990s into 2005, the subprime share of mortgage lending exploded from about 5-6% to over 20% and was substantially responsible for the double-digit gains in home prices a few years ago. Then prime mortgage borrowers balked at buying homes with prices twice as high as normal in relation to income.

Prices began to decline. You know the rest of the story as it unfolded in the last two years.

Washington is doing very little to deal with the root causes of the subprime mortgage mess. Belatedly, fraudulent practices by mortgage lenders are being prohibited and a few people will go to prison. But these fraudulent practices appeared, and were long tolerated, only after Washington set the eventual mortgage mess in play by insisting that some people were entitled to be homeowners even if they could not afford to buy a home with the rules set by private lenders. Instead, Washington is forcing lenders to provide further subsidies to loans in default. This may be politically correct, especially in an election year, but it assures a similar problem will occur again.

by Dennis London | 0 Comments

Single Story For Sale in Grand Palms

• 4,377 sq. ft., 4 bath, 5 bdrm single story - MLS® $895,000

Grand Palms, Pembroke Pines  -  Marble Floors, Carpet Floors Formal Dining, Breakfast Area Foyer Entry, Volume Ceilings, 3 Bedroom Split, Walk-In Closets Washer, Dryer Den/Library/Office, Family Room, Utility Room/Laundry Exterior Feat: Built-In Grill, Fence, Patio View: Golf View, Pool Area View Lot Info: ¤ 13,300/ 1/4 To Less Than 1/2 Acre Lot Carport - Gate Guarded. Mandatory Hoa, Golf Course Community Parking Desc: Circle Drive, Pavers Parking Restrict: No Motorcycle, No Rv/Boats, No Trucks/Trailers Guest Hse Info: Spa? Pool Info: Y/ 15X30/ Below Ground Pool, Heated Maint Incl: Maintenance Incl Common Area Sprinkler: Auto Sprinkler Heat: Central Heat, Electric Heat

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by Dennis London | 0 Comments

2 Story For Sale in Country Club Ranches

• 1,848 sq. ft., 3 bath, 3 bdrm 2 story - MLS® $389,900

Country Club Ranches, Miramar  -  FORECLOSURE!! OPEN FOR OFFERS..BEING SOLD "AS IS"..INSPECTIONS WELCOME..POOL HOME LOCATED ON CANAL..1.05 ACRES..ALL OFFERS MUST INC. BUYERS PQ LETTER AND GOOD FAITH LETTER IF ASKING SELLER TO HELP PAY BUYERS PTS/CC..

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by Dennis London | 0 Comments

Great Investor Meeting

Met with a group of investors this morning who really understand this market. It is a BUYERS MARKET and a great time to buy. They have a business plan to buy distressed properties in great neighborhoods both to "rehab for profit" as well as to "buy and hold". Their stated goal is 12 properties per year.

As stated in the meeting their goal, in meeting with our TEAM, is to partner with professionals who will help them to accomplish their goals. We welcome the opportunity to participate.

It was truly an honor to be recognized both as for Real Estate Investment Expertise as well as for Investment Funding and Property Management.

Dennis London
President - Founder - Broker – Owner

London Realty Corp.  
9000 Sheridan Street
Pembroke Pines, FL 33024

954-862-2255  office
877-591-5886  toll free
954-562-6583  cell
866-651-8397  toll free FAX
954-862-2256  fax

LondonRealty@gmail.com
www.LondonRealtyCorp.com
www.EZLondonLoans.com

REAL ESTATE INVESTMENT SERVICES

by Dennis London | 0 Comments

The Time to Buy is NOW!!

A new word for Recession. Our Florida Real Estate market is working it's way through this economic hardship. Whether it was inevitable or brought on and worsened by the Media, the fact of the matter is that a correction was needed. In many areas of our country, the prices of real estate went too high too fast. For the Sellers in today's market this is gonna hurt, but for the Buyers there is an abundance of opportunities.

But most of the Buyers are looking in the wrong places for this "Great Deal" that they want to make. They are taking the hard road searching through the short sales and the foreclosures looking for the best deal they can find.

The majority of these Buyers will find out in the end that all their time and effort yielded them nothing or no real gain, and maybe settled for a house that they didn't really want. Most of them won't be able to finalize a closing on these properties as most of their offers will be rejected. In the long run they will only have watched the prices and interest rates climb higher during the time that they wasted, and the home that they could have purchased will soon be priced out of their budget.

The fact of the matter is that our MLS is full of Listed Properties that are below market value with Sellers that are willing to negotiate lower than their list price. The smarter Buyers will come to realize this and be able to pick out the house that they really want and can negotiate their best deal.

This is a Great Time to Buy Florida Real Estate!

by Dennis London | 0 Comments