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What do you mean I have to rent to a drug addict?

Dennis Norman

Fair Housing Laws are just one thing landlords need to be very familiar with in order to protect themselves and their businesses.  In addition, there is the Americans with Disabilities Act, application screening, lead-based paint and other disclosures,leases, state laws about security deposits,collection issues, criminal activity in your units and more…What’s a [...]

What does 2010 hold in store for the Housing Market?

Dennis Norman

In a just a few days we will say goodbye to 2009; a year that has been brutal to the housing market. So as the new year comes in, what will 2010 hold in store for the housing market?

To answer this question I turned to the housing forecast just released by Fannie [...]

Merry Christmas!

‘Actual’ Existing home sales drop 5.2 percent in November; Up 4.2 percent from a year ago

Dennis Norman

NAR’s “seasonally-adjusted” numbers show sales up 7.4 percent for the month…”actual” numbers show a 5.2 percent decrease….Sales up 44 percent from last year, lest we not forgot last year was the worst in over 10 years…

According to the latest report from the National Association of REALTORS(R), existing home sales in November [...]

New home sales take a dive in November

Dennis Norman

New homes were started in November at an annual rate of 482,000 homes and I asked why in my post last week since new home construction was already outpacing sales….well, today the gap got worse..

This morning the U.S. Department of Commerce released a report showing the sale of New Homes [...]

Home prices in US declined 7.8 percent in past year…expected to fall another 4.2 percent

Dennis Norman

In spite of recent “upbeat” reports on the housing market and some people even saying the worst is over, when it comes to declining home values it appears the fat lady hasn’t sung yet

According to a report issued by First American CoreLogic national home prices continue to decline with their HPI (Loan [...]

Most recent homebuyers are first-time buyers

According to NAR 51 percent of recent homebuyers are first-time buyers and 39 percent of recent home sales have relied on an FHA loan

Dennis Norman

The National Association of REALTORS just released a report showing that 51 percent of the homes sold recently have been to first-time home buyers and that 39 percent of [...]

Think that a Foreclosed Home is the Best Deal in Town? Think Again.

Ten signs that trouble might be just around the corner.

It’s easy pickings out there for many potential home buyers. Housing prices are at their lowest in more than a decade, inventories are high, analysts are predicting a new wave of foreclosures and the government is offering two substantial tax credits for which many home [...]

Mortgage interest rates creep up slightly

Home-buyers mortgage activity dropping…refinances make up 3/4 of all new mortgages.

Dennis Norman

The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending December 11, 2009. The report showed the MBA Purchase Index (a measure of the volume of loan applications related to a home purchase) decreased 3.6 percent [...]

New home construction in the U.S. increases in November….but why?

New home construction is on the rise in November…. WHY??? They aren’t selling as fast as they are being built…didn’t we learn our lesson?

The U.S. Census Bureau and US Department of Housing and Urban Development (HUD) issued a their report on New Residential Construction for November 2009 showing an increase in new home [...]

Subject2 Investing with Nick Johnson

Shae Bynes, Good Faith Investing

Hello Guys & Gals, I have a trick up my sleeve that most of you have probably never even heard of. It’s called Subject2. This strategy isn’t a new secret, it’s been going on for as long as you can imagine.

This term is also commonly know as Sub2 [...]

What will be the best real estate markets in 2010? How about the worst?

Dennis Norman

As 2009 quickly draws to a close and the housing market continues to be in dismal condition, it would sure be nice to know what next year holds in store. Will the housing market finally see a recovery? Or, will the number of homeowners that are “underwater” on their mortgages sustain the [...]

Five Indicted in Foreclosure Rescue and Mortgage Fraud Scheme

Department of Justice Press Release

Scam Involved Lawyers, Mortgage Brokers, and More Than $14.6 Million in Loans

PHILADELPHIA—A 15-count indictment was filed today against five defendants charged in a $14.6 million mortgage fraud scheme that resulted in at least 35 fraudulent mortgage loans, announced United States Attorney Michael L. Levy, Special Agent-in-Charge of the [...]

Is the Obama Administrations’ Home Affordable Modification Program (HAMP) working?

Dennis Norman

This week the Treasury Department issed a report which included stats on the Home Affordable Modification Program (HAMP) which is part of the Obama administrations’ Making Home Affordable Program and “is a loan modification program designed to reduce delinquent and at-risk borrowers’ monthly mortgage payments”. The HAMP program got underway around March [...]

What improvements give you the most bang for your rehab buck?

Learn what improvements will bring the most return from a buyer… Dennis Norman

How many times while doing a rehab of a home you plan to flip have you spent extra money on something to make it special or stand out, such as a remodeled kitchen, updated master bath, room addition, etc, only to [...]

Florida predicted to have highest mortgage delinquency rate next year

Mortgage Delinquencies are expected to decrease in many states in 2010; Florida, Arizona, California, New York and Virginia expected to see increases.

Dennis Norman

According to the Annual Consumer Credit Forecasts issued by TransUnion, Florida is expected to have the highest mortgage delinquency rate by the end of next year at 16.86 percent (up [...]

Commercial and multi-family properties mortgage delinquencies on the rise

Dennis Norman

For the first year or so of the real estate slump, it appeared to just be concentrated in the residential market, specifically homes and condos. However, over the past few months the attention has shifted more and more to the commerical and multi-family markets as well as the economy remains weak.

The [...]

Home Sellers Slash Prices by $23,953 in November, a 3% Smaller Discount Than Last Month — According to ZipRealty

Fewer Home Sellers Cutting Prices as Average List Price Falls More Than 3%

Fewer sellers in 27 major U.S. markets reduced home prices this month, and those who did slashed their prices less than in October. At the same time, the average list price in those markets overall declined slightly, a possible sign sellers are [...]

Real Estate seized by IRS to be sold at auction

Dennis Norman

The IRS acquires property as a result of seizing it or otherwise acquiring it for nonpayment of taxes and sells the acquired properties at auction. There are a few things to keep in mind when considering whether to bid on, or buy, property in this manner, including:

The owner (the taxpayer) has [...]

Pending home sales rise for ninth consecutive month

Lawrence Yun, Chief Economist, NAR

Is the increase real or have the tax-credits created an “artificial” market that cannot be sustained?

Today the National Association of REALTORS(R) issued their Pending Home Sales Index Report for October showing pending sales in the U.S. rose again for the ninth consecutive month – marking the longest streak [...]

Real Estate Investors: Video to help you use tax-credit to sell homes

Dennis Norman

In a challenging market like this, you have to pull out all the stops to sell your property; in addition you need to be aware of the tools and resources out there to help you do so.  One of the best resources currently available to sell homes is the newly extended and [...]