Sep 18

As the economy continues to suffer and home prices continue to fall, numerous Americans across the country are staying away from the real estate market. But, if you are looking to take advantage of the opportunity of a lifetime, now is the perfect time to get off the sidelines. Playing by your own terms may be the name of the game today. Ask for price reductions, improvements, closing costs—whatever—and sellers, who are desperately trying to get a contract, are very likely to work with you, said Jay Papasan, one of the authors of the book Your First Home.

via RISMedia.

Sep 09

Karl E. Case, the lesser-known of the “Case-Shiller” pair has an op-ed in the New York Times that basically argues that it’s a great time to buy a house.

Yes, the old American Dream — having a house that appreciates 30% year-on-year — is dead, as Case acknowledges. But that doesn’t mean the math isn’t compelling.

via Seeking Alpha.

Sep 06

Dennis and Laura Burd sold a house to Satoru Kuwabara and May Hsu (the Kuwabaras). The Burds appeal from a judgment obligating them to pay the Kuwabaras the amount it cost the Kuwabaras to make the home code compliant as set forth in the offer to purchase. We affirm.

¶2 On January 21, 2006, the parties entered into a residential real estate contract for the sale of the Burds’ village of Thiensville home to the Kuwabaras. Thiensville ordinances require clear-water compliance inspections upon resale or change of ownership of any residence.(1) By an addendum to the offer to purchase, the parties agreed that the Burds would provide the Kuwabaras a certificate of code compliance prior to closing.

via No. 09-2328.

Sep 03

It seems like a great time to buy a house (if you don’t have to sell), values are down (so affordability is up), interest rates are at all-time lows, and high levels of inventory are languishing on the market. It all adds up to buyers who have negotiating power.  Yet, the latest housing reports are undoubtedly making many home buyers skittish about entering the market.  Here are just a few tips for people trying to figure out if now is the time to buy:

via Zillow News.

Aug 30

The trial court ruled that two lease agreements held by Coin Appliances, Inc. were enforceable against the Warners and Whites, and that the Warners and Whites breached the lease agreements. But rather than order specific performance, as requested by Coin, the trial court ordered payment of damages pursuant to a stipulated damages clause in the lease agreements

via No. 09-2164

Aug 22

A dilemma every real estate investor who buys and sells property for short term gain faces, is how to proceed if the property does not sell.  Most of my clients understand the importance of using a corporation for their short term investing to avoid the dreaded “dealer” classification.

via biggerpockets.com.

Aug 06

Dennis Walsh, CEO of RE-buildUSA, will be facilitating a panel session entitled: “Amazing Opportunities for Buyers and Sellers – Understanding the FHA 203k Renovation Loan Program”

via RISMedia.

Aug 02

A broad look at the housing market shows:

Home supplies are rising in most markets

Home sales are falling in most markets

Mortgage rates are at all-time lows

In other words, in most markets, more sellers are competing for fewer buyers, and the “winning” buyers are financing their homes at the lowest rates in history.

via Jack Thinks.

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