Selling House Fast Due To Inheritance

December 29, 2014

You masell fast relocationy be wanting to sell a house that you received through inheritance. If you have inherited a house, one of your best bets may be selling to an investor. With selling to an investor, you can save a lot of time and hassle which may put a strain on you, or your family. Selling your inheritance to an investor means, not out of pocket costs, repairs or using any of your own money.First off, you want to avoid all and any out of pocket expenses. When someone passes on, and the home is left vacant, usually that means the house could be left un maintained for quite some time. Selling fast to an investor will make sure that you get it off your hands before the value of the house starts to go down. Selling to an investor also means you don’t have to hire some real estate agent who will nickel and dime you. They will also take a cut of the profit, which is mostly how they make their money. You then may have to sit on the house even longer while the agent finds a potential buyer but with sell
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Fast Way to Sell Your Property – Investor Buyer

November 8, 2014

sell my houseThere are many reasons why you may be in a situation where you need to sell your home quickly. Life has challenges such as divorce, needing to relocated because you received a new job in a different area, inheriting a home from a family member, becoming ill and needing to sell. Rather than listing your home with a realtor, fixing up your home for sale, hosting open-houses, and waiting for the right buyer for your house, you can get a free offer for your house from a local real estate investor. Sell Your House Fast by contacting a local investor. They will come to your home, review the condition of your home, and provide you a free, no-obligation home selling offer.

 


Commercial Real Estate – Where Is It Headed?

January 16, 2010

Over the past year commercial real estate has been following the steady declines seen in residential real estate. This can be seen by looking no further than the fact that prices are down nearly 40% from 2007 and office vacancies have increased by 5% in 2009 alone. However, residential real estate has slowly began turning around, this has caused many investors and analysts to wonder if commercial real estate will stabilize in 2010.

Changing Times, Changing World: 
According to a survey conducted by Grub and Ellis, commercial real estate is expected to decline by another 10% to 20%. At which point, the markets will go into the stage of flat lining, this is where prices will not decrease or increase rapidly. This is contrary to what some have been prognosticating for commercial real estate, with it often being called the next shoe to drop. However, according to the Grubb and Ellis survey, when you look at the actual values of the commercial real estate mortgage portfolio at various banks, it is clear that their values are significantly higher in spite of seeing sharp price declines last year.

Vacancies: 
Nationwide Grubb and Ellis expect vacancies to decline even more, with the total amount reaching 18.5% to 19.0%. This is the highest number on record since the firm began conducting the survey in 1986. When you look at the different sectors of commercial real estate it is clear that the decline will be felt in all areas. This can be seen with industrial sector expected to post vacancy rates of 11.4%, while retail is expected to continue to remain weak. These different rising vacancies have meant that many landlords are unable to make their mortgage payments, leading to a rise in foreclosures of commercial real estate. A good example of this would be the Hancock Tower of Boston which is facing foreclosure because of rising vacancies.

What This Means for Boston Real Estate
When you look at what the different figures mean for Boston, it is clear that the city’s commercial real estate market will face a mixed recovery of starts and stops. A good example of this can be seen with the predictions for Boston commercial property vacancies, as offices are expected to see a 14.2% increase and 16.2% in industrial.

What all of this shows, is that 2010 Boston commercial real estate will face downward pressure as rising vacancies fuel foreclosures. However, towards the end of year is when a recovery is expected in these markets as commercial real estate works through similar challenges as residential.


Recent Home Buyers Statistics A Change In Real Estate

January 10, 2010

People looking to sell a house have a reason to cheer about statistics that were released regarding November real estate sales. An annualized rate of 6.54 million units was sold in November. This is an increase of 7.4% from October numbers. Even bigger, it is an increase of 45.4% from the number of units sold a year ago.

This number was a surprise to the experts. The forecast had been for November to have an annualized rate of 6.25 million units sold. The actual results surpassed that figure by over a quarter of a million units.

Home buyers snatched up these units because of many factors. Likely, the biggest factor is the home buying credit offered by the federal government. First time home buyers qualify for up to an $8,000 tax credit. In addition, the program has been expanded to include people who already own a home. These repeat buyers can now qualify for up to a $6,500 tax credit when they purchase a new home.

Even though both first time buyers and repeat buyers are to credit for the growth of home sales, first time buyers deserve more of the credit. Normally, first time home buyers account for 40% of home purchases. However, in November they were responsible for 51% of home sales.

All of this news is encouraging to people looking to sell a house. The federal government’s home buying program is having its desired effect to counteract the mortgage crisis and propel housing sales, especially among first time buyers.

Another factor propelling the increase in housing sales is a drop in interest rates. A year ago the average for a 30-year, fixed rate mortgage was 6.09%. In October it was 4.95%. November saw the rate fall all the way to 4.88%. This is a significant decrease that has helped to spur the rise in home buyers.

Even though all of this positive news is something people looking to sell a house are cheering about, they do have a vast market to compete with. There are an estimated 19.62 million houses for sale nationwide. That is a supply that would last for three years of sales at November’s rate of sales, if no new houses were to be built.

Another factor worrying to people looking to sell a house is the so-called “shadow inventory.” These are houses owned by banks and mortgage companies that have not yet been put up for sale. It is estimated that there are 1.7 million houses in this shadow inventory. For any home sellers thinking how can I sell my house this shadow invintory definitly will have an affect.


Good News From The Real Estate Bust! – End of Subruban Communities

December 20, 2009

The housing crush has had a range of side effects across the nation. However, with more and more new home developments struggling to fill the new properties, a new phenomenon has appeared. There are fewer and fewer new suburban developments showing up on the fringes of communities.

Expansion that was so rampant in the real estate boom has suddenly disappeared or stalled midproject, leaving empty houses gaping at passerbys.Some of these communities are filled with homes that are in foreclosure which makes it harder to sell a home next door. Home owners have vacant lots next to them and they need to stop foreclosure themselves.

What are the pros and cons to the recent disappearance of these suburban communities? Besides the obvious financial troubles with the construction companies associated with these areas, there is an impact for the local homeowners as well.

With fewer inhabitants and stalled increases in the homeowners to these commuter communities, morning commutes into the city are less than what might have been if these suburban areas had filled. Enticed by lower prices and more house available through these suburban communities, more and more homeowners looked to purchase these properties during the real estate boom years. However, as the real estate market has stopped, these homes are not being filled, making the commute to the city a little easier.

Areas like Prince William County have shown the impact of this suburban community disappearance. With a deflated real estate market and increasing gas prices, the foreclosures have pushed median home prices down 32 percent in just the last year alone. Fewer individuals are on the interstate and more are crushed into crowded buses headed to Washington D.C. This area of the county has seen the impact of tightened credit restrictions and fewer buyers. The bubble has popped here and the impact was swift and sudden.

Zillow recently performed an analysis of markets to determine what has happened to the inner and outer suburbs in major cities nationwide. What they found was very interesting. Essentially, the prices for inner suburbs, those within a ten mile radius from the center of the city had changed little. However, as the radius grew larger and larger as far as fifty miles from the center of the city, the prices dropped drastically.

Of course, if the city was close enough to another major metropolitan area such as the case with Washington D.C. and Baltimore, for example the prices would begin to rise again as proximity to the neighboring town increased. Other cities proved the opposite reaction. Some areas like Atlanta, Dallas and Detroit that often have rough and tumble downtown areas still saw improved prices in the suburbs far away from the center of the city. Detroit has a weak economy in the center of town, making homes here less desirable than the benefits offered in the surrounding communities. Atlanta, on the other hand, has had a number of premium condos built that has offset the nearby home values.

An oversupply of new homes in the suburbs is affecting the existing home communities nearby. As fewer and fewer new home developments are being purchased, these properties are drastically reducing their prices to get the homes sold. Oftentimes, these price drops ultimately cause the entire neighborhood to lower prices because the competition is all around.


Adapting to the Real Estate Market: Flipping and Renting

August 27, 2009

Okay, the real estate market has gone down and a quick rebound is not likely, or possible. Homeowners are finding viable options to continue to make money in the real estate market despite the recent changes.

By adapting to the environment, savvy real estate investors are still flipping home properties with a twist. They are purchasing lower cost single family houses in areas of great potential and updating them. However, rather than putting them on the market for sale right away, these flippers are becoming landlords, renting the property to keep building equity and pay the mortgages.

How long are these new landlords renting their flipped houses for? On average, the versatile businesses are renting as long as five years or as short as only two until they can find a home buyer. They are keeping the cash from the rented properties in the short term, but are banking on the idea that an improved real estate market in the future will help them get the profits they are aiming for years down the road. Of course, this type of stalled profitability attracts a limited number of former flippers, but it is an increasing option for real estate investors.

One of the keys to success with the flip and rent strategy is to avoiding subdivisions. Typically, the targeted houses are no more than $80,000 to $90,000 and will be victims of a crashing real estate market whose values were vastly higher even a year ago. These homes need upgrades and improvements that many future homeowners shy away from. By improving these houses and then renting them, these flipping real estate investors are actually playing a role in improving the market by rescuing and improving homes whose needed changes might have been outside the scope of many property owners. Neighborhoods might have suffered with these eyesores in the past, but they are now able to enjoy an improved property in their surroundings, thanks to the flippers.

Many of the houses that are chosen for these investment and rental properties are selected if they fit a particular set of requirements. For example, many of these homes are victim of the boom and bust cycle of the recent real estate market. Their overestimated home value has wrecked havoc on the market and neighborhood in general, so this financial investment can be a great choice for both the individual investor and neighborhood alike. Also, there are specific location, price and physical criteria that many investing business will choose before they will purchase the soon to be rental property.

To find many of the houses these real estate investors purchase they use companies who privide real estate leads. The real estate leads consist of contact information from how owners who want or need to sell their house. Many of the home owners who ask to be contacted by a real estate professional are motivated to sell their home quickly.

This smart investment plan can be a great way to improve neighborhoods and allow individual real estate investors to gain capital and long term equity in a stalled and shaky real estate market. Although typically known as risk takers, these particular flipping companies are making long term, calculated investments that should pay off in the future.

If you are a home owner and are in a financial situation and thinking how can I sell my house fast, a good place to receive an offer on your house is your local home buyer or investor. There are real estate investors in every major real estate market who purchase homes quickly from home owners who need to sell. Many of the homes are in foreclosure, the owners are transferring out of the area, or the owners just need to move quickly.


Foreclosure Rates – Have We Hit Bottom Yet?

June 29, 2009

One way to determine if the state of our economy is improving is by monitoring foreclosure rates. Foreclosure rates across the country vary in different regions.

Foreclosures can signal a huge change in the real estate market. While they can be hot deals for buyers looking to purchase large properties at a fraction of their valued cost, the impact foreclosures have on the market overall can be a highly negative one. Foreclosed homes are typically in disrepair and a crumbling mess long before the bank steps in to take over. In addition, selling a home that is highly undervalued will undercut overall price comparisons in the neighborhood, which devalues numerous homes in its wake.

As the economy continues to decline, the number of foreclosed homes continues to grow. While some analysts will tell you that the foreclosed homes and sluggish real estate market are signs that the real estate bubble is simply righting itself after years of a bubble inflated industry, homeowners with nearby foreclosed homes in their neighborhood and the victims themselves will often feel at a loss on how to control the negative spin.

Overall, 1.9 million homes have recently gone into foreclosure across the county. The average sale on these foreclosed homes is roughly $172,000. Of course, this number reflects both large and small properties alike, as well as homes whose owners had been paying their mortgages on time for years before the economic downturn made paying their mortgage payments more difficult.

What are the biggest markets for foreclosures across the nation? Is your state one of the areas experiencing the highest rates of foreclosure? Consult this list of states that experience high foreclosures to see if your state is one of the most affected areas:

Arizona, California, Colorado, Florida, Georgia, Idaho, Illinois, Indiana, Michigan, Nevada, Ohio, Utah, Virginia

California tops the list at over 92,000 foreclosures. Meanwhile, Florida runs in second place with nearly 59,000 foreclosures. Nevada, Arizona and Michigan each have roughly 15,000 foreclosures, while Ohio, Illinois, Georgia and Texas has approximately 10,000 foreclosures. Virginia ends the list with just over 5,000 foreclosed homes.

Foreclosed homes aren’t limited to a specific economic bracket, either. Every neighborhood has become vulnerable, including high end homes in desirable neighborhoods. Many analysts blame adjustable rate mortgages or no doc loans as a major cause of the increased foreclosures. Since these  no doc loans don’t require verification of the borrowers’ income, they pose a much higher risk than other traditional forms of home loans.

The top five states California, Florida, Nevada, Arizona and Michigan constitute the greatest percentage of the nations foreclosures in June. As the market restructures and the economy continues to adjust to financial changes, expect the rate of foreclosed homes to decease slowly over time.

After all, foreclosed homes put pressure on financial institutions to stop lending to anyone with a potentially risky financial profile. For this reason, even secure homeowners cannot sell their homes as new buyers are unable to obtain the funds they need to purchase new property on the market.

If you need are in a situation where you are thinking how can I sell my house fast, I suggest contacting a local home buying expert in your area. Local home buying experts exist in every major city in the United States. Many times these home buyers can purchase homes quickly so you can move on with your life.