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In this country millions of homes are sold every year. In most cases buyers go to a bank or finance company to seek mortgage financing.In some cases, 200,000 in the U.S., home buyers rely on the seller rather than a financial institution to provide financing because:? The purchaser may not qualify for a traditional mortgage. ? The purchaser may be a relative looking to save on closing fees. ? The seller may be interested in having a long-term income stream.Often the seller is pressured into providing financing for the purchaser instead of receiving a lump sum. This forces the seller... Read More
One questions many "for sale by owner" sellers ask is "how can I determine if a potential buyer can afford to buy my house?" In the real estate industry this is referred to as "pre-qualifying" a buyer. You might think this is a complex process but in reality it is actually quite simple and only involves a little math. Before we get to the math there are a few terms you should understand. The first is PITI which is nothing more than an abbreviation for "principal, interest, taxes and insurance. This figure represents the MONTHLY cost of the... Read More
Have you ever seen those infomercials about buying houses with "No Money Down?" They are really well done. They have all kinds of people offering great testimonials about how they have gotten rich, buying rental properties, with absolutely no money out of their pocket. You see this guy, standing on a street corner, talking to someone, and he says, "I own that one," pointing to a beautiful colonial. "I also own that one next to it, and the one two doors down, and I'll be closing on the one directly across the street from it, next week." He then assures... Read More
The Log home industry has matured these last many years, but there is still a lot of confusion about how much a log home costs. Naturally, everyone wants to know the cost of the log package; however, the budgeting only starts here. If you are shopping for a milled log package (as opposed to hand-crafted, which is a totally different category), the difference between one manufacturer's price and another is minimal when compared to the total cost of the structure. Here are some reasons why:Other materials. The logs themselves only form a portion of the material costs of the home.... Read More
If you're thinking about buying a home but have declared bankruptcy in the past, don't give up hope. There are still ways for you to be able to find a loan, even if your credit history is less than sterling.Lenders make various kinds of home loans, normally graded from "A" all the way down to "D." The more problems that show up on your credit report--slow pays, late pays, or even bankruptcy--the lower the grade of loan you'll be able to qualify for. If you're employed and have a relatively good income, you'll get better terms, even though you won't... Read More
There are many reasons why you would consider joining with another person to undertake a development project in Joint Venture. Usually the most basis reason reveolves around something you don't have. Some of them may be: 1. I own land ... have capital & capacity to borrow ... but no experience. 2. I have capital & capacity to borrow ... partner has land ... both have no experience. 3. I am 'time poor' ... work full time and can't be personally involved ... Let's suppose you want to find a land owner who will put their land into the... Read More
A house properly priced is half sold. But there are plenty of ways to price it improperly.. * You can't go by what you paid for the place. Perhaps you bought two years ago when local prices were skyrocketing, and things have cooled off since. Perhaps houses like yours can now be bought for less, and if you hold out for what you paid, you'll just waste your time.. On the other hand, perhaps prices in your area have taken off, and you'd short-change yourself if you just tried to "get my money out" (but you'd have a fast sale.).... Read More
How to make the Real Estate market work for you and get the most money. Dad always said that Real estate is a good investment because they don't make it anymore. Because they are so busy these days anyone selling your home may be thinking more of listing more homes than your welfare. If you plan on selling and moving you will need to take some simple steps to get the most money you can. Most Real Estate companies do a good job but in a sellers market you can probably sell your home yourself. Anyway if you have the... Read More
Cheap, Bargain, Real Estate; Good Deals, Below Market, Low Priced properties are available if you know how to buy them. By Jody Hudson - Realtor since 1972. How to FIND and BUY: Cheap Bargain Real Estate, Good Deals, Below Market, Low Priced and Less Expensive; homes, lots, land, businesses, and condominiums. They are everywhere and easy to find. Here is how to find and buy them from anyone, anywhere. This article lays out the steps: How to find and buy a Bargain, A Good Deal, in real estate; that is; how to get it real cheap! Yes, there are... Read More
Real Estate: Reasons and Priorities for Purchasing Property. It's not just about Real Estate as an Investment. By Jody Hudson www.JodyHudson.com Real Estate can be a great investment with unusual appreciation. We have had several years years of exceptional annual appreciation. We are still having great appreciation, perhaps as much as 20% annually in some areas. But, it is not as extensive nor as much as it was. Real Estate as an investment can be fairly good to best in the world -- but it is an investment that is best viewed over the long term;... Read More
A Powerful Suggested Technique for YOUR Home & Property Search by Jody Hudson You can be a pro at buying a home: Whether you are buying your first home or you are an experienced home buyer who owns more than one home, there are some things that can help you get faster results and get more professional and pleasant help from your Realtor. A home or property purchase is one of the most important and exciting events to experience. Owning a home can help you build equity while reducing your income tax. Land of any size requires... Read More
Horses In My Back Yard by Jody Hudson, with Extensive Collaboration From Chris Hudson HORSE LOVERS: During my thirty years of selling rural land, I have frequently found that folks want some acreage so that they can own and ride horses. They LOVE horses in their own mind but have little if any of the real knowledge or experience necessary to raise one or more horses. Far too often, they have knowledge based on little more than an idyllic dream and that dream based for the most part on romantic novels and movies. This article will give you some... Read More
Why without asking your boss? Two reasons, one, he or she will most likely say no; and second, he or she will probably have you committed for asking. So what do you do. Give the raise to yourself. Impossible you say. Chuck and Sue are crazy. Not at all. Here's how. You know we love the Creative Real Estate niche of Lease Purchasing and you know we believe it to be the perfect home-based business. But, did you know you can use these same methods in your spare time to give yourself that big raise. Ask yourself, "What would I... Read More
Well, as we have discussed in previous newsletters first you have to set up goals for yourself, both long term and short term. Don't forget these goals define how your business is run. They will determine what you do on a daily, weekly and monthly basis. The best way to do this is to picture yourself a year down the road. Close your eyes and get a mental picture of where you want to be, what you want to have, how you want to look, then open your eyes and write all that down on paper or speak into a... Read More
Recently I closed on the sale of two homes. They were located about a mile apart and had comparable market values. However, beyond these two similarities, the two deals were very different from each other. Let me discuss in more detail the similarities and differences of the two deals.My business partner and I purchased both properties from families who were in preforeclosure. The leads for each property came from letters that I had mailed to families who had recently received Notices of Default. The one family responded to me within 24 hours of receiving my first letter. I met with... Read More
As I write this, there is a considerable concern about the dangers of urban life, triggered by the terrorist attacks on the USA. As some of you know, I have been a student of disaster preparations and a real estate consultant for those seeking "secluded and survival properties" for over thirty years. At one time, I had a several hundred item checklist for my "Survivalist" clients to read and check off for me so that I could guide them to what they considered to be the most Utopian place to live safe and secure with their family. I guess it... Read More
We Sussex Countians are fortunate in many ways as we have a wonderful quality of life here.Climate: Our climate for one thing is the best in the region. The United States Department of Agriculture has a map that shows the temperature zones for plants (and people). This map http://www.growit.com/ZONES/ shows Delaware in the same climate band as mid-Texas, northern Georgia, and the Carolinas. Delaware is by far the northern most place for this climate. Southern Delaware, although not delineated on this map is shown as one zone more southerly in the more detailed maps you get for planting... Read More
This is not an article about tricks for 100% (no money down) financing. Even if you do take advantage of various no money down strategies from time to time, these strategies are not generally applicable when you begin investing systematically in multiple rental homes with the goal of making significant rental income.This is because some of these strategies require a degree of deceit and careful timing, others require difficult-to-find pricing or seller situations, and others require sophisticated legal instruments and training, or a combination of all of the above. These complex strategies are good for selling mentoring programs, books and... Read More
When investing in real estate, it is highly desirable to achieve positive cash flow on a month-to-month basis. This is true even if you are counting on property value appreciation to supply the bulk of your desired return on investment. If you are losing money month-to-month, you may find all of your eventual profits eaten up by the monthly drain on your income. This will be particularly true if there is a downturn in property values for a few years.Worse yet, you may tire of the monthly outflow of cash, and you may give up on the property before you... Read More
1.Why are there so many properties on leased land?There are several situations here. Business and commercial land is often leased all over the world. In New York City, Tokyo, and other larger, older cities; land owners often lease the land that is underneath those skyscrapers and in some cases even the park land is leased to the city by the land owners.In Lewes, all of the land east of the Lewes and Rehoboth Canal, what is known as Lewes Beach; is leased land. The land leases there are usually owned by the Town of Lewes and are usually for 99... Read More
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