June 2009 Blog Posts (15)

New GA Tax Credit - House Bill 261

There has never been a better time to purchase a home!! Prices are down, rates are down, and the government has created yet another stimulus package to spur the housing industry back to another growth cycle.



Just this week, Governor Perdue signed into law House Bill 261, which offers a tax credit of 1.2 percent of the purchase price of a single-family home currently on the market. The credit tops out at $1,800 and will be taken over three years. The clock starts ticking now as… Continue

Added by Robert Carlough on June 27, 2009 at 10:53am — No Comments

Why it makes sense to use a Real Estate Agent

If you have ever wondered why it’s better to work with an agent rather than listing “by owner,” you aren’t alone. Superficially, selling a home seems easy - until you actually try it.

According to statistics, nearly 80% of people give up and list with an agent after months of costly and time-consuming delay.

Here is why agents matter more than ever:



Time

Showing homes, answering calls, responding to email, scheduling inspections and appraisals plus much more are time… Continue

Added by Robert Carlough on June 27, 2009 at 10:51am — No Comments

OPPORTUNITY APPEARS WHEN YOU ARE READY

OPPORTUNITY APPEARS WHEN YOU ARE READY

--------------------------------------------------------------------------------



Chance is turned into good fortune by successful people.

You are surrounded by all kinds of opportunity.



Luck is being at the right place at the right time.

Taking advantage of an opportunity is always under your control.

When you are mentally prepared the right opportunity will present itself.



Talent alone won't make you… Continue

Added by Mike Aemisegger on June 20, 2009 at 10:48am — No Comments

Real Estate Investor News Group on NewsforWhatYouDo.com

We’ve launched a new Real Estate Investor News Group on NewsforWhatYouDo.com The site is used by real estate professionals to collaborate with their peers to discover, filter, and read relevant industry news.



Because sources, topics and filters are created by other real estate professionals, NewsforWhatYouDo brings you and your clients the most up to date… Continue

Added by Logan Henriquez on June 17, 2009 at 3:31pm — No Comments

$8,000 for 1st Time Homebuyers

Exciting New Program to increase home sales & stabilize the real estate market



U.S. Housing & Urban Development (HUD) Secretary Shaun Donovan announced on May 29th an exciting new program to stimulate home sales as part of the Obama administration’s American Recovery Act of 2009. Homebuyers are now offered a tax credit of up to $8,000 for the purchase of their first home. “Families now will be able to apply the anticipated tax credit towards their home purchase right… Continue

Added by Lorine R. Williams on June 15, 2009 at 12:28pm — No Comments

Virgin Island Utilities Reduce Power & Water Rates

Effective Dec. 1, 2008 residents will see a 34-percent drop in electric LEAC rates, from $0.322317 per kilowatt hour to $0.211661 per kilowatt hour, which will take the average consumer’s bill down by $55.35, or 27.2 percent. The average commercial customer -- those businesses using about 1,200 kilowatt hours -- will see their bills drop by $143.91, or 25.5 percent, while the average large power customer will pay $4,428.24, or 28.3 percent, less.



The reduction reflects the continued… Continue

Added by Lorine R. Williams on June 10, 2009 at 4:09pm — No Comments

Pre-Qualification Letters: Why Do I Need Them, How Do I Get One, and What Should It Say?

Here is another interesting article from Steve Cook



Pre-Qualification Letters: Why Do I Need Them, How Do I Get One, and What Should It Say?

by Steve Cook




Pre-Qualification letters are not absolutely necessary, but if you want to pursue bank owned and HUD homes they are a necessity if you don’t have provable cash. A pre-qualification letter from a lender let’s the seller in your real estate… Continue

Added by Karen Roberts on June 9, 2009 at 11:00am — No Comments

HR 1728: The Restriction on Seller Financing and The Impact on Real Estate

As you may know, Congress passed HR 1728 under the name of “Mortgage Reform and Anti-Predatory Lending Act”. Now without getting into a conversation about finger pointing who is responsible about the current financial crisis we are in, regulations towards better and safer lending and the protection of consumers are needed. I know the government is concerned about predatory practices, but shouldn’t the local district… Continue

Added by Pedro Gonzalez on June 9, 2009 at 6:24am — No Comments

Profiting from your Hard Money Lenders

Another interesting article from Steve Cook - Profiting from your Hard Money Lenders



Having a good hard money lender will help you to become more profitable. You will be able to take advantage of deals when they come available. You will be able to act quickly if need be. You will be able to obtain a pre-qualification letter from your lender to give yourself more credibility when making offers, and finally, you will… Continue

Added by Karen Roberts on June 8, 2009 at 11:00am — No Comments

What Exactly is a Hard Money Lender Anyway?

Here is another interesting article by Steve Cook "What Exactly is a Hard Money Lender Anyway?"



Private or "hard money" lenders are private individuals with surplus money available for investment. Some have deep pockets while some have limited resources. Based upon their own personal criteria, they lend this surplus money, primarily on a short-term basis, to real estate investors who use it for a variety of… Continue

Added by Karen Roberts on June 7, 2009 at 5:30pm — No Comments

New Realities for Hard Money Borrowers

Here is an interesting article by Rob Barney "New Realities for Hard Money Borrowers"



It used to be, just 9 months ago, that any rehabber with a pulse that could find a house to purchase for a price of 70% of the After Repaired Value (ARV) including the cost of repairs, could find financing with a Hard Money Lender (HML). As many of you well know, that is no longer the case. HMLs are now looking at the strength of the… Continue

Added by Karen Roberts on June 5, 2009 at 5:30pm — 1 Comment

Why Private Money

Why Private Money by Alan Cowgill



This topic is near and dear to my heart. When I started my RE career, I heard about the necessity of finding private lenders. In fact I even found two. But then I stopped. For four years I PROCRASTINATED. I didn't get it!!! For four years I continued to go to banks and jump through their hoops. I also had used hard money lenders, but found them VERY expensive.



It wasn't until… Continue

Added by Karen Roberts on June 4, 2009 at 5:30pm — No Comments

Why Egypt is a secure and desirable investment location?

* Low property prices starting at around only £30 000

* Freehold properties

* NO capital gains tax, stamp duty or inheritance tax

* Guaranteed capital growth.

* Low cost of living and maintenance costs

* Strong economic growth in recent years (GDP 7.1% in 2006)

* The World Bank chose Egypt as the sixth country among top 10 countries all over the world to apply the economic reforms in 2007.

* 52 weeks a year rental potential

* Sun all the year…
Continue

Added by Ghada Abul Fadl on June 4, 2009 at 1:37am — No Comments

Two Major Benefits of Having Private Lenders

Two Major Benefits of Having Private Lenders by Alan Cowgill



I started my business by using banks, savings, credit cards, lines of credit, creative techniques with sellers (like land contracts or lease/options), and partners. But, once I was self-employed, I was concerned that it was going to be harder to get loans to purchase properties.



I had always been unhappy about how long the banks take to get the job… Continue

Added by Karen Roberts on June 3, 2009 at 5:44pm — No Comments

What the Stimulus Package means for the US Virgin Islands

As President Barack Obama signed the $787.2 billion dollar

economic stimulus package into law, a large sigh of relief

echoed throughout the Virgin Islands. The islands will realize

at least $244 million in unanticipated revenue, with windfalls for the

Territory’s roads, schools, Medicaid patients and providers, and tax

credits for its citizens. Although some numbers are solid, there are

areas that remain in flux:



•Clean, Efficient, American… Continue

Added by Lorine R. Williams on June 2, 2009 at 11:30am — No Comments

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