real estate services ffld.co.CT

Using Real Estate Options if You Have No Money and Bad Credit

2010-08-23T20:37:00.000-07:00

The Hidden Demand

2009-06-18T10:54:00.000-07:00

We are still in a buyers market, it will probably years before it turns for the good. Don,t get over anxcious because of a few houses being sold nationwide. The pockets of Realtors, real estate investors and sellers are still in need of replenishment. Getting a house sold can be very difficult in a buyer's market. However think about this; there is this hidden demand out there and you need to tap into that demand. We have been talking so long about the low demand for houses that we are losing sight of the demand occuring underneath the surface. So what is the underneath demand? Think...there are plenty of displaced homeowners out there. We know pretty much how they got there and now having been kicked out of their homes need to find somewhere else to live. They didn't become molds or lived in a box. They went straight to the strong rental market.

Do homeowners see themselves as a tenant or do they see themselves as homeowners that are temporarily renting. The answer should be easy to ascertain that they really want to be able to own a house again. We have to do is create a deal where they can become homeowners again. Now some of these people have actually accumulated cash. They were foreclosed upon which means they weren't making their monthly mortgage payments. The banks wouldn't even accept their payments even if the owners sent them in. What happens is they start to payoff debts and start to accumulate cash. Most of these people know they into the house well over their heads because someone told them about a tremendous program and sold them into a bigger house and mortgage than they could afford. Other than that they were credit worthy and now want to get on the right track to get their lives together. They been accumulating cash, paying down bills and now have some extra cash. But because of the tarnished credit rating, they lose self esteem and fill that getting a new loan will be impossible for quite sometime. So imagine the hero someone would be when they come up with a proposal for these desolate people to buy a home again. The media enforces the idea that banks are tightening their lending practices. But also remember this foreclosure was a result of too high a mortgage payment. There are people that had great credit prior to this particular situation. Now they need the right size home and one they afford. If this should happen they will be able to afford the expenses. They then become a good credit risk and the right people to get back on the right track.

One of the ways to achieve that is using the lease options. What happens is when a person meets these criteria, good credit prior to foreclosure, they could be offered a home and they are given a longer time to purchase. Maybe they'll be given two or three years and then be able to purchase back the home they leased optioned. They will probably incur additional down payments. This instrument is not difficult to understand but there are other contingencies involved. This is a great vehicle for all players involved. The future homeowner or tenant gets to purchase his home and the investor/owner uploads the property. A win win situation.

George Benton:Author
web:http://www.webrealestatebuyers.com
tel:203-354-3089

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Short Sale In a Nutshell

2009-04-27T19:17:00.000-07:00

All was going smoothly for landlords and market speculators until the real estate market went bust. Landlords and market speculators had visions of buying homes at low prices and then flipping them for profits. In those years, 2002 to 2006, U.S. economic activity was powered by home building, home buying, the refinancing of real estate purchases, and the desire to fill new homes with the middle-class lifestyle. But since the height of the boom in 2006, home values across the U.S. have fallen dramatically. By the end of 2008, more than 8.3 million homeowners nationwide owed more on their mortgages than their property was worth.
Rocked by declining property values and job loss, we are now facing a mortgage and foreclosure crises. There are still many foreclosures coming onto the market place today. The number of pre-foreclosures in the market are at an all time high. We've by now have heard the words Short Sale. Weather needing a short sale to upload a property, or purchasing a short sale for an investment, short sales are common place. A Short Sale is when a property owner has a mortgage on their property that exceeds the actual value of the home. This is what is called a "up-sidedown" mortgage. This is not a good position to be in because of the recessionary times occurring today.
The Short Sale is the exciting buzzword phase that came into vogue in late 1990 as lenders began to authorize the sale of properties that they had loans on (but had not yet foreclosed on) at a discount. In other words, they allowed the properties to be sold for less than the total loan amounts. Therefore the lenders takes a shortage on his loan proceeds, in order to avoid going into foreclosure. These days it seems like everyone is talking about short sales and either trying to do them or would like to be doing them. It sounds exciting to think about lenders discounting their mortgages and or being able to purchase property below the actual market value. But in realty doing short sales can be a most frustrating, tedious and time consuming way to make a living as a real estate investor. I'm not trying to discourage anyone. You should know that buying, selling or just doing short sales is not an "overnight get rich scheme." It takes lots of work. It is not for the faint of heart, but if you endure you will most likely be successful. And if you are willing to do what most people will not do or don't know how to do, you will have what most people do not.

George Benton:Author

http://www.webrealestatebuyers.com
203-451-4860 or
203-354-3089

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Best Real Estate Investment Strategy for Ffld,Co. CT.

2009-01-28T13:55:00.000-08:00

The housing market has felt a pulse recently indicating a possible come back of some kind. But, one should not be over confident until the spring thaw has released its flow of assurance. These times reflect the downed real estate market of the 1980s, where it took a good 8-10 years for the market to rebound. With closer scrutiny we could see an even longer turn around stretching into the year 2012 or beyond. Foreclosures are rising, and home sales in 2008 showed the lowest in a decade. What is clearly indicated, in Fairfield, CT. single family sales are off 32% in 2008 from the same time in the year 2007 and in Westport, CT. the picture is no better, showing a 26% decrease in the number of property sales.

If there is a silver lining anywhere it is with President Barack Obama's 850 billion dollar economic stimulus package. Today people are reluctant to buy because of the weak economy and fear of losing their jobs. For the real estate investor/buyer the best strategy right now, and this is my opinion as well as other seasoned investors, is rentals or buy and hold and that includes lease options as well. Lease options are great right now if you don't lean on them for playing a major role in your real estate sales portfolio. Because you must realize that very few of these lease option tenants actually execute their options and purchase the property. So really it becomes a long-term hold process with the lease option. Right now , with so many people losing their homes in this mortgage crisis coupled with the tighter lending criteria for mortgages, people aren't able to buy houses so rental demand has significantly increased. What a great time to have rental properties! And at the same time home prices have fallen so you can pick up some great deals and get them rented quickly.

Many people are feeling the harsh reality of the real estate market in Fairfield, CT.. But this does not mean we should receded to a closet and not pursue our dreams or abandon our real estate investing strategies altogether. This is a New Year, a time to look back at what we have accomplished over the past twelve months and reevaluate the things that went well, and to access the areas that need improvement on. Let us start the New Year with figor and reassurance that there is nothing we can't accomplish. There hasn't been a better time to succeed in America, so seize the opportune moment. If you can Perceive, and Believe, you can Achieve!

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George Benton Author
http://www.webrealestatebuyers.com
203-354-3089 or
203-451-4860

CT. Real Estate Economy 2008

2008-12-30T16:00:00.000-08:00

Rates on 30 year fixed-rate mortgages fell to a record low for the second straight week, as of December 25, 2008. Causing a surge in refinancing applications to the highest level in more than five years. Mortgage rates started falling after the Federal Reserve launched a sweeping effort in November to aid the housing market by purchasing the high volume of mortgage related dept and securities issued by Fannie Mae, Freddie Mac and the Federal Home Loan Banks. For home owners to qualify, however, generally they need to have a FICO score of at least 600. Although homeowners are taking advantage of these low rates to refinance their loans, the opportunity isn't available to those with poor credit or little equity in their homes. Home values in Southwestern Connecticut decreased a -9.17% in the third quarter of 2008, compared to the third quarter of 2007. And nationally, home values decreased -9.7% during this same period. Presently we a witnessing home sales plunging by 8.6% in Connecticut and foreclosures are still likely to increase.
What does this mean for the real estate investor?It has been documented that on a national basis, the number of foreclosures has increased every year for the past seven years. Real estate investors have an unprecedented opportunity to make enormous profits during this down market. Corporate layoffs,downsizing, and outsourcing have run rampant in the economy. Just look around your own neighborhood, you can't help but from seeing foreclosure signs on every street. Whether you are a real estate investor or shopping for your first home, when driving around you will notice for sale signs posted by real estate agents in your area. For each sign it is estimated that there are four houses in the same area in some stage of foreclosure. These circumstances create a high profit potential for investors in what is called "The Hidden Market." It is called that because people don't understand it; the uninformed public does not know where to find the information to make these situations viable opportunities.
Real estate investors and buyers be creative and take advantage of this situation Now. Fine away to create a Win-Win situation for you and the seller. There are motivated homeowners that don't want to lose their homes and banks that don't want to own the property. There is a saying that Knowledge is Power, and that is certainly true. But, Knowledge is also Money.

P.S.
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George Benton Author
http://www.webrealestatebuyers.com
203-354-3089 or
203-451-4860

Real Estate Investing in Main Street America

2008-11-25T15:37:00.000-08:00

It is fairly obvious President-elect Barack Obama is reaping what he has been sowing since his run for the senate in the State of Illinois. However, President Barack Obama will face a storm of economic woes that mirrors the harsh times of the great depression era. Financial institutions across the country are going bankrupt at record numbers, causing a vacuum that impedes the flow of monies into main street America. With a collapsed financial system, such that we are experiencing today, the average family or small business owner become dead in the water. Due to increased company layoffs, roller coaster oil prices and tightening credit crunch, the amount of money usually available evaporates quickly. As a consequence mortgage notes and credit card payments are showing an increase in defaults. Foreclosures are on the rise at historic numbers as our cities struggle to cope with this slumping economy. From the war zone areas in larger cities, to the leafy upper-middle class areas of the more desirable homes, foreclosure signs are seen everywhere. In my own home state, Connecticut has been hit with record number of foreclosed properties. Foreclosure rates are up 25 percent year-over-year nationally.

There is hope however for main street America and great opportunity for real estate investors too. There is a saying that "When there is blood in the streets, buy everything." This could not be more true than what we are experiencing right now. The time is NOW to BUY, any and every piece of property that enters the market place. A great source for finding these investments would be he motivated sellers with up-side down mortgages and from the banks that have large pools of defaulted loans. Do you want to thrive in 2009 instead of getting crushed like so many others? Real estate investors need to know that the new changes in the laws, government policies, and economy are creating the biggest opportunity for huge profits to be made. The 2008 election and the present economy are making history for real estate investing. Today we are witnessing the greatest transfer of wealth the country has ever seen. Money is flowing from the helpless masses toward the courageous few who understand how to profit from these once in a life time events.

We have a constant volume of distressed properties for sell in CT. and nationwide. Go to the website below and fill in the buyers/investor form with a description or comment on the preferred property. If you are desperately trying to sell a home or investment property, regardless of your situation, we can find a solution to your problem and make a solid offer on your property. Just go to the website below to fill out the seller form.

Benton Associates
bntngrg@yahoo.com
http://www.webrealestatebuyers.com/

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Unwanted Real Estate Ffld,Cty,CT.

2008-06-15T10:01:00.000-07:00

Hello Friends:
This is my very first blog,I don't know if you will receive it or not. I have no idea what I am doing at this point. The thing I do know is to try and get this thing going even if it is not correct. Right?!! So look. I realize that there are a lot of people out there that are experiencing fanancial problems do to the economy. These problems tend to surface during crunch times. Such as, you need to sell your house or for some reasone you don't want it or it is vacant, needs repair, in pre-foreclosure or behind on payments. Perhaps relocating,divorce,bad tenants,owe liens,100% financed or fire damaged? These are common problems that can happen to anyone of us.

My company buys houses from people in situations just like yours in any area or price range. We are not realtors. We are real estate investors that buy 5-10 houses per month. You'll get a quick sale with no hassles and your worries will be behind you. You know rarely do problems just go away; Call Now! or contact us below. Together we can find a solution!

Contacts:
www.webrealestatebuyers.com
bntngrg@yahoo.com
203-451-4860 or
203-354-3089