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By Dennis Norman, on May 21st, 2012
By now almost everyone has probably heard a story about (or experienced themselves) the laborious, time-consuming and mind numbing process of trying to buy (or sell) a home on a short sale or, in other words, for less than is owed on the home with the lenders blessing. Unfortunately the lenders blessing, in many cases, has taken many weeks or even many months to get causing many buyers and sellers to give up along the way. Now though, thanks to a recent rule change by Fannie Mae, this process will be improved greatly and happen within 30 days in most instances. [...]
By Dennis Norman, on January 7th, 2010 It’s not surprising, that according to Zip Realty foreclosures and short sales dominated the U.S. housing market last year and were the driving force for the real estate roller coaster ride of 2009.
Zip Realty broke down what they considered were the nine major real estate stories for 2009 and they are:
[...]
By Dennis Norman, on October 20th, 2009 Dennis Norman
Yesterday the Federal Housing Finance Agency (FHFA) released its foreclosure prevention report for July, 2009 for Freddie Mac and Fannie Mae loans. Based upon the data in the report I would say it’s safe to say the housing market is going to continue to be challenged for a while.
Ah, the opportunities though [...]
By Dennis Norman, on October 6th, 2009 Dennis Norman
Many investors see short-sales and foreclosures as opportunities to make money in this challenging real estate market. If you are one of them, or agree, rest assured, there are plenty more “opportunities” coming.
According to a report just released by the Federal Housing Finance Agency, the number of short sales and foreclosures continue to [...]
By Dennis Norman, on September 22nd, 2009 Dennis Norman
I was at a real estate industry function last night and, while talking with Dave, a commercial real estate broker, an interesting topic came up. We were discussing the residential market and potential buying opportunities, concerns about an oversupply of rental property, etc. Dave then asked if I thought sale-leasebacks would be a good [...]
By Dennis Norman, on September 3rd, 2009
Dennis Norman
I have written a couple of previous posts about a practice that has gained popularity over the past couple of years: the use of an option contract to “buy” a property on a short sale and, assuming the investorcan find a buyer, flipping the property to a new buyer on the same day the [...]
By Dennis Norman, on July 2nd, 2009 Dennis Norman
By: Dennis Norman
This past Monday I did a post on short sales where I addressed the use of option contracts by investors on short sales. Since then I have spent a lot of time discussing and researching this approach to short sales.
I always try to keep an open mind when [...]
By Dennis Norman, on June 29th, 2009 Dennis Norman
By: Dennis Norman
A recent study shows that 20% of homeowners owe more on their mortgage than their homes are worth. This, coupled with the challenged market we have been in the last year and a half or so, has led to a record number of “short-sales”.
A short-sale is something that was [...]
By Dennis Norman, on April 5th, 2009
The report shows the percentage of performing mortgages for the 4th quarter of 2008 had dropped to 89.95% down from 93.33% at the end of the first quarter. [...]
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