Six must-haves for mortgage approval

Interest rates are hovering around historical lows, and low interest rates increase affordability, making it easier for buyers to qualify. Yet stories of buyers waiting months to gain loan approval and home purchase transactions not closing on time due to lender’s strict underwriting are all too common. Some buyers are turned down for illogical reasons. …

Continue reading ‘Six must-haves for mortgage approval’ »

HUD’s Inventory of REOs More Than Double a Year Ago

HUD has released a report detailing recent business activity at the Federal Housing Administration (FHA). It shows that the federal agency’s inventory of REO homes has ballooned as sales from this portfolio fell sharply during the final months of 2010 and early part of this year. The number of repossessed single-family properties held at the …

Continue reading ‘HUD’s Inventory of REOs More Than Double a Year Ago’ »

Cash-only home sales on the rise

In California, the all-cash offer is king when it comes to luxury property now.   According to the Los Angeles Times, cash deals now account for roughly two-thirds of home sales in Southern California’s most expensive neighborhoods, with all-cash buyers having bought 30.9% of California houses and condos in January. . These current low prices have …

Continue reading ‘Cash-only home sales on the rise’ »

Property Management 101

I discovered this interesting and well-worded opinion article on Property Management Daily: The secret to acquiring wealth is real estate. The economy may rise and fall, but real estate will remain one of the most reliable investments a person makes. The reason for this is simple: everybody needs someplace to live. With a demand like …

Continue reading ‘Property Management 101’ »