Real Estate Info

Most real estate markets are seeing 30% or more of their transactions being lender mediated through foreclosures or short sales.

The bargain hunters continue to move in to take advantage of the bottom barrel prices, low interest rates and cornucopia of foreclosures and short sales.

Buying a Foreclosure

In dealing with a foreclosure the banks selling them are mainly concerned with price. You as the buyer need to determine what the right price is for you regardless of their asking price.

This is where an experienced real estate agent can greatly improve your chances of not only getting the home, but also getting a better price and making it a smooth transaction.

A buyers agent can get important answers to questions like how long has the home been on the market, when was their last price reduction and how much, any city required repairs and research comparable sales.

The answers to these questions can educate you about the market and also give you an informed decision on what price you should offer.

While multiple offers are common to see on foreclosures there are a few strategies that can strengthen your offer.

With the credit market tightening, a cash offer can beat out an offer that is contingent on getting financing. In fact, it’s common to see banks accept cash offers that are thousands of dollars less than an offer that is higher but is contingent on obtaining financing.

Other helpful tips include: offer to close in 30 days or less, remove the inspection contingency, if you are financing do not ask for any seller paid closing costs and do not ask the bank to perform any repairs.

Buying a Short Sale

A short sale is where the lender allows a property to be sold for less than the amount owed on a mortgage and the lender agrees to take a loss.

While a short sale home is usually in much better condition than the foreclosure there are some big pitfalls.

Short sales can be very frustrating for all involved. It’s not uncommon to wait 90 days or more before getting a response from a bank on accepting or declining an offer.

Also, many of the homes on the MLS labeled as a short sale are not truly sellable. Just because a property is listed as a short sale it doesn’t necessarily mean the lender will accept your offer, even if the home owner accepted it.

So before you write an offer on a short sale, do your best to know what you are in for prior to writing the offer. Your real estate agent should be able to find out where in the process the listing agent is with the short sale approval.

The key really is to verify it is a pre-negotiated short sale. Meaning the seller has met the qualifications of a short sale and all necessary documentation has been provided to the bank.

Kevin Curtis is a licensed agent with RE/MAX Advantage Plus. He is The Minnesota Real Estate Team’s 2007 Agent of the Year. Kevin and his team provide great service and ongoing insights into the Minnesota Real Estate market at
MinnesotaPropertiesOnline.com.

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According to AXA, the global insurance specialists, the current state of the nation will see up to 500,000 Britons flee the UK in 2008, with a survey from HSBC revealing that Britain is now not even considered a good place to live by people from other countries.

So it seems that the UK is set to suffer considerably from the disastrous state of the economy, and from the government’s attempts to solve the significant financial problems that Great Britain is facing.

Added to these predictions and survey findings are the bare facts that one person is being declared bankrupt or insolvent in the UK every five minutes, over 100 properties are being repossessed in Britain each day, and average household debt has reached GBP 9,500 as the personal economic situation of Britons worsens.

Reacting directly to these worrying facts, Julian Walker, the Managing Director of Turkish property specialists Spot Blue, has spoken out about the choices that Britons realistically now have to face.

In a recent interview, Walker explained that in his opinion there is only one logical choice for British citizens who want to escape the winter of discontent that’s fast enveloping the entire nation:

“Britain’s economy is severely stretched and we have to accept that the fiscal landscape of our nation will never be the same again. It’s the real people who are being affected by the sorry state of the economy, and as every person in this country knows, we haven’t even begun to see the final repercussions of the crisis yet.

“As billions of pounds have been wiped off the stock markets and banks around the world teeter on the brink of bankruptcy, it’s the pensioners and soon-to-be-retirees who are going to be most radically affected in these very tough times.

“The value of pensions are being decimated, and as inflation has been edging upwards in Britain, the real cost of living for those in, or about to enter retirement is becoming worryingly ever more expensive.

“If people want to escape the UK meltdown and enjoy a comfortable and prosperous future, they increasingly realise that Britain is not the nation for them in retirement - and in our opinion at Spot Blue, Turkey is one of the few logical choices for those seeking the perfect balance of lifestyle and financial advantages.

“In Turkey, British retirees are made to feel welcome by the local people from the very first day of their new life abroad - and with HSBC offering over 18%pa on deposits, Britons will immediately see the value of living in Turkey in terms of the more positive state of their bank balance.

“With low property prices and the cost of day-to-day living in Turkey is a fraction of what it is in the UK - from council tax to heating bills, Turkey is significantly cheaper.

“The climate in Turkey’s southern coastal regions is also much warmer and sunnier than the British climate, which means that people spend far more time outdoors and engaged in outdoor activities, which is better in terms of health benefits.

“The shorter and warmer winters and longer spring and summers naturally reduce heating and fuel costs, and with all that additional sunshine, the local grown produce - the majority of which is organic - is healthier, tastier, more abundant and therefore very good value for money.

“We’re seeing greater interest among British retirees for property in Turkey, with those who contact us keen to benefit from our wealth of experience and local knowledge to help them find a house, make a home and start a brand new life in Turkey - well away from the British weather and the British economic turmoil.

“For the short to medium-term all Britons are aware that the United Kingdom will not be a comfortable, affordable, prosperous or positive place to be, and so we agree with AXA’s predictions and are confident in stating that ever greater numbers of Britons will chose expatriation over debt and poverty.

“In our opinion, Turkey is the number one choice for those who want to live a fantastic quality of affordable life in an accessible, stable and rapidly advancing nation.”

For more opinion about the Turkish property market and for details of the stunning second home and investment property opportunities that exist in Turkey, contact Spot Blue on 020 8339 6036 or visit www.spotblue.co.uk

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Many senior buyers and real estate agents have been waiting for HUD to issue the Mortgagee Letter which outlines the guidelines for the Home Equity Conversion Mortgage (HECM or Heck-um) reverse mortgage program for purchase transactions.

The Bill that Congress passed and was signed by President Bush on July 30, 2008, H. R. 3221, among other things now allows this program to include purchase transactions for the first time (but could not be implemented until HUD announced the parameters of the program).

This is exciting news to Senior Americans who have wanted to purchase a new residence but could not pay for the home in full and did not qualify under conventional underwriting standards.

This includes those who wish to downsize, move closer to family and friends, move into senior communities for the activities or amenities they offer, or those who find that their current home simply does not meet their needs any longer such as those needing wider halls for wheel chair access and those needing single story homes that currently reside in multiple story properties.

HUD just issued their Mortgagee Letter (#2008-33) which outlines many features and explains how they intend to implement this feature. The purchase feature will not go into effect until January 1, 2009 and will contain many additional requirements.

While not all of the improvements we had hoped to see based on the Bill are included in the purchase program (specifically the inclusion of cooperative units), HUD did a very good job of getting this program out and did make it borrower friendly for bona fide senior purchasers.

In a nutshell, HUD put as many safeguards in place as they felt they needed to avoid fraud and abuses while allowing for as many different property types and transactions as they felt they could under the guidelines.

HUD has instituted some guidelines and some procedures to protect against property flipping, but aside from the cooperative units that will be offered sooner or later as a result of H.R. 3221 (and it is unclear if it will be for purchase and refinance or just refinance or under what guidelines at this point), it appears that the property requirements have not changed.

HUD only clarified that if the homes are new construction they must be completed and the Certificate of Occupancy must have been issued.

If an existing HECM holder refinances their HECM to a new HECM, then they do not need to pay the entire up-front mortgage insurance premium again, just the difference if any from the old lending limit to the new one if it has gone up.

This is not true on the purchase of a new property. It is then a new transaction and the up-front mortgage insurance premium is due.

Just like any HUD loan, all funds required to close the transaction must be verified. HUD will not allow any type of secondary financing to close the purchase of these loans.

Borrowers with existing properties with HECM loans who refinance those HECM loans do not have to pay the entire up-front mortgage insurance premium a second time, but rather on the difference (if any) between the old amount and the new amount if there has been an increase in the lending limit between the times of the two loans.

However, borrowers with existing HECM loans who sell their homes and purchase using a HECM loan will be required to pay the entire up-front mortgage insurance premium on the new purchase transaction.

HUD determines the amount of money the senior borrowers need to bring into the transaction based on the appraised value. This is a departure from the normal guideline of the appraised value or sales price, whichever is less.

HUD has decided to allow borrowers who are purchasing a home at below market prices to be able to benefit from the higher appraised value and not have to bring in as much cash to close the transaction.

They must believe the safeguard against abuses with the anti-flipping rules have insulated them enough to allow this departure from normal valuation guidelines, but whatever their specific reasoning this allows seniors to gain access to homes with less money down under many circumstances.

A few things to remember are that the borrower has to have the funds required for down payment, they cannot come in part or entirely from a bridge loan, loans from credit cards or other secondary financing.

HUD does allow prospective HECM borrowers to look to other FHA allowable funding sources for a portion or all of the necessary down payments such as family, close friends and non-profit organizations (that are not seller financed).

Borrowers must be counseled with regard to the purchase program specifically including all the enhancements covered herein.

Before this, many senior borrowers who could not qualify for loans under conventional underwriting standards or who did not want to take all the equity from their existing dwelling and use it to purchase a new property, simply had to stay where they were.

This enhancement allows them to use the HECM program to purchase a property, not pay 100% cash for the home without having to qualify for and pay monthly mortgage payments, and gives them options they never had.

As of January 1, 2009, seniors who have the desire, now have the vehicle to purchase a home which might better suit their needs or their lifestyle, without qualification, without ever making a monthly mortgage payment and allowing them to hang on to some of the money they would otherwise have had to put down on the property sounds like a great start on the new year for seniors!

Michael G. Branson (CEO All Reverse Mortgage Company)is a Mortgage Broker who has over 31 years of mortgage banking experience. Toll Free (888) 801-2762
Purchase Reverse Mortgages
Purchase Reverse Mortgage Calculator
Purchase Reverse Mortgage Programs

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If you need a quick property sale selling on the open market via an estate agent is often a painfully slow and frustrating experience. Property is one of the most illiquid assets. The average time to sell via an estate agent is 6 months from beginning to end. Of course, some sell very quickly and other sales take more than a year but the average is still pretty slow. However, this delay is necessary if you are to get the maximum price possible for your property.

If time is the priority then there is another option available whereby you can sell your property in 2 to 4 weeks. This option is normally only suitable to those who really need to sell quickly. This is normally due to financial difficulties, emigration, divorce, separation or the threat of eviction or repossession. In these circumstances waiting 6 months to sell is not an option.

A specialist home buying company buy properties directly from sellers so there is no need to wait for them to advertise it to potential buyers. They also have the cash available (either in their bank account or as pre-agreed finance which they can access just as quickly). The process for selling to them is normally as follows:

1. You contact them via phone or via their website
2. They give you some sort of preliminary offer which you can accept or just refuse and move on. This offer is normally a set % below the market value (i.e. normally 20 to 30%).
3. If you accept this preliminary offer, the home buying company carries out a more detailed valuation of the property and gives you a firm written offer which is subject to a survey on the house.
4. If you accept, they pay for a survey/valuation of your property (beware of companies that ask you to pay for this. You walk away if they ask you to).
5. If the survey and valuation comes back ok (i.e. there is no structural problems with the property and the valuation is the same as their original estimate) then they will instruct solicitors to start conveyancing process.
6. The sale is then completed in 2-4 weeks.

At no point during this process should you be asked for any money. It is up to the homebuying company to pay for the survey and valuation. They may get you to sign an option agreement or contract saying that you would be willing to sell at X price which just gives them assurance that you will not back out after they have paid money on the solicitors and surveys. This agreement should not tie you in to sell at any price but at a price you are both happy with.

So in conclusion, a good home buying company will give a guaranteed quick sale and save you selling fees, the hassle of doing multiple viewings and the stress of waiting for a buyer. In exchange for this service you will need to sell your property at a discount. This discount means that is therefore normally only suitable for people who really need to sell quickly.

Carl Robinson is an experienced property investor and Director of Quick Homebuyers Ltd. He has helped many people looking to sell property for cash or those who are interested in sale and rent back.

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In my experience the roof is one thing most buyers and tenants with triple net leases have the most attention on and rightfully so. Proper maintenance and routine inspections are strongly advised.

The typical commercial and industrial roof is a flat roof. This means that is has less than 2 inch of slope or fall for every level foot. Modern standards require all roofing to have a minimum of 1/4 inch of slope for every level foot. This was rarely the case in roofing before the 70s.

Most any roof built in the 70s and before is almost always very flat and does not shed water well. This leaves areas of standing water. Standing water is a potential problem for two reasons; #1 is when water stands it has a way of finding a weak spot and leaking.

#2 is standing water collects dirt and debris that will cause the roofing material to deteriorate faster and leak quicker. (Standing water is any water that is either 1/2 inch deep or more and not flowing or is there more than 48 hours after the rain has stopped.)

From my experience maintenance is the single area that can prolong almost all aspects of any building. Proper maintenance of the roof is the cheapest insurance there is. If every owner had a roofer go over the roof every 2-3 years (once it is at least 5 years old) and make any repairs as well as do all the normal preventative maintenance, a roof can last well past its expected useful life.

The usual expected useful life of a flat roof is approximately 13 - 17 years with many roofing materials, if properly maintained, lasting 20 years.

The state of California has energy requirements that are listed in what is called Title 24. These are mandated energy requirements for every building in the state. (It is noted that the enforcement of these mandates is not always consistent.)

It covers many areas and with roofing it requires any roof over a ‘conditioned space’, namely office space, to have a reflective coating over it to help reflect the heat and save on energy. This material can come in many forms from white vinyl plastic to spray on coatings and others.

Where this becomes important is if a building needs a new roof. You may be required to install this type of roof and it costs approx. $1.00 more per sq. ft. to install than a standard roof. However if the roof is older but still has some life left in it, it may be possible to have an applied coating installed over it that costs from $.60 - $1.00 per sq. ft.

There are two distinct advantages of installing this coating over an existing roof. One is that it will prolong the life of the roof and if applied approximately every 5 - 7 years while doing proper maintenance, the roof can last almost indefinitely.

The second, and this may be bigger than the first, is that the most efficient of these materials can reflect up to 80% of the suns rays which could be a very substantial savings from an energy stand point not to mention saving wear and tear of the AC units because they are not having to run all the time during hot weather.

Bob Pace has been a Certified Inspector since 1994 and a licensed contractor for nearly 4o years. For more information about commercial real estate inspections visit his website at http://www.commercialrealestateinspectors.com to find out how he can help with your real estate inspection.

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With so many different types of property for sale the buyer is often left confused and discombobulated by the options at their disposal. One of the major considerations is whether to buy an old or a new property. In the past buyers were usually divided by agents into two distinct types, those who would only look at older property for sale due to its character and features and those who would only look at newly built property for sale for the convenience.

Many buyers see period property as a financial bottomless pit that will simply eat money for years to come whilst in contrast, those aficionados of older properties bear the belief that newer residences are boring, uninteresting and characterless.

These beliefs however have become less ardent in recent years due to modern technology being incorporated into older houses and a greater effort in the design of new builds. Whichever side you back however it is pretty irrelevant as whether the property for sale is new or old, it will always carry additional costs that are rarely factored in by buyers.

For instance while a new house may be perfect to move in straight away, how long is it before the homeowner feels that a new kitchen would look nice?

This is especially true in newly built estates where the homes for sale are usually constructed differently to the show home, meaning that the new owners are almost instantly pining for an upgrade to their kitchen or bathroom.

Additionally newly built property for sale has other downsides, particularly if it is brand new. For instance, while the show home may have beautifully landscaped gardens, this is not always the case with the rest of the homes on the estate. In contrast, an older property is sold as seen, it is likely to already have a garden and other add-ons such as carpets and electrical outlets.

It is advisable to bear in mind safety features when looking at property for sale, newer properties are likely to already have smoke and burglar alarms whereas in older homes it is probable that these will have to be installed.

Maintenance is a key issue when looking at older properties for sale. It is remarkable how evident cracks and deficiencies become once the previous owners have striped the property of belongings and furnishings. In some cases this will require an investment of both time and money so it is understandable that people who want a home that is ready to move into will be more inclined to look at new builds.

This is why it is imperative that buyers utilise the services of a qualified surveyor before putting an offer in for a property, particularly if it is older. This survey should look at the seals between the walls, floors and ceilings both inside and out as well as items such as the roof and any border problems. By doing this the buyer can gain some form of assurance that the home is in a decent state before moving in.

Hopefully this article has highlighted both the benefits and deficiencies of old and new properties for sale. This article has not intended to sway the reader to either way of thinking, ultimately the choice is down to the buyer and the amount of credence they place on period features and maintenance issues.

With such a range of properties on the UK market the choice is startling and the chance of finding that perfect home is almost certain; whether it is old or new.

Real estate expert Thomas Pretty looks at the different types of property for sale in the UK, with a particular focus on old and new homes.

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In America, a country founded on private property rights, there is one industry that will never have to worry about going out of business, and that is the Real Estate industry. As long as there are people living in this land, there will be a need for property to build on and houses to live in. Now, occasionally an individual real estate company or agent may go out of business, and at times certain tactics change, but the industry as a whole will always be here.

Even if people decided to live in mud huts or tents, they would still have to build those mud huts or tents and place them somewhere. It’s funny, because when you think about it, a plot of land is really just a big piece of dirt - but that big piece of dirt, and what you put on it, will always have value to someone. One thing that helps determine that value is the most recent price someone has agreed to pay for a comparable property in the same area.

To see this in a larger and perhaps more overlooked way, the factors that help determine property values have everything to do with the very nature of human beings themselves. The purchase of a house includes some of the biggest financial and personal considerations most people will make in their entire lifetime. The place where you raise your family, entertain guests, commute from, work, rest, live and even die in - your home, truly is your castle. All the various personal dreams and expectations that attract people to this iconic American ideal add up to be votes for its value, as well.

Some may ask, “What happens if we run out of land to build on?” Figures from the 2000 Census show that, contrary to popular misconceptions, at least 94.6 percent of the United States is open rural land! Data from that same census shows that even California, the most populated state in the nation, is not more than 8.6 percent developed!

The US Census Bureau also reported that as of March 2008, the total number of housing units in the United States was 129.4 million, and 2.3 million of those were for sale. The Bureau’s latest (2006) estimate of the country’s population is almost 300 million people.
There may be different ideas as to what exactly the Real Estate industry is going to look like in the near future, but one thing is clear: with the amount of available product and consumers in this nation, Real Estate is not going out of business any time soon.

Rory Santos intimately knows the Central Coast California Real Estate market and how good the view is growing up in a Pismo Beach home.

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Whether you’re a novice real estate investor or you’ve been at it for years, real estate investing is an endless series of challenges. First, you have to locate motivated sellers.

Then you have to buy it right, manage it even better, and still find a way to turn a profit. To top it off, you have to try to do all these things while simultaneously juggling the myriad other details of your life while laying the groundwork to become a full-time investor.

There just isn’t enough time in the day, is there?
Wouldn’t it be nice if profitable deals would almost magically come to you?

Well, they can.

By putting Bird Dogs to work for you there’s more time for you to concentrate your energies on more profitable activities: negotiating with sellers, putting together winning proposals, and moving on to the next deal.

In case you’re not familiar with what a bird dog is - or what a bird dog does - they are basically scouts that sniff out deals for you. Their sole job is to locate properties that have motivated sellers and lay the groundwork for you to move in and close the deal. This saves you time for the really profitable aspects of real estate investing.

While all bird dogs are not Realtors, Realtors have a huge advantage over non Realtor bird dogs, for obvious reasons: They have access to the local MLS, FLMS listings, they know the neighborhood, they know how long the homes are on the market, they know what buyers are looking for, they know what it will take to get it in resale condition, they have access to motivated buyers and sellers or can find them for you.

Without motivated sellers you can’t put together real estate deals. The problem you have is there are only so many hours in the day for you to do everything that needs to be done. If you still have a full-time job working for someone else you have even less time available for your marketing and prospecting efforts.

If you assume that marketing - of which locating motivated sellers is a critical part - takes 20%-25% of your time, you can easily see how little time that leaves for the other activities you need to be doing on an on-going basis to reach your goals.

By having a bird dog or bird dogs doing these things for you it allows you to better utilize the time resources you have at your disposal. A good bird dog isn’t born: they’re made. It’s going to take a little effort on your part to help your bird dogs help you.

The best way for you to do this is by clearly articulating to them what you need. Again, here is where Realtors can be invaluable, because you will spend less time bringing Realtors up to speed as they already have had extensive training.

The good news is that there are plenty of people willing to be bird dogs. They could be friends, family members, or others you come in contact with. You can also work with novice real estate investors through your local REIA to locate properties for you.

It’s also relatively easy to put together larger teams of bird dogs by utilizing message boards, Craig’s List, and other online resources. If all else fails you can run a newspaper ad of your own.

The main point here is that bird dogs will free up more of your time so you can do those things that have a greater probability of earning you money.

Bird dogs can be the path to your real estate investing goals. The finder’s fees you’ll pay your bird dogs for bringing deals to you are more than offset by the value - and the wealth - they’ll generate for you.

Take the time to learn how to work with bird dogs in reaching your investing dreams. As you get better at working with bird dogs you’ll find that you have more time and money for other pursuits - like deciding what to tell your boss when you quit your full-time job and take the plunge into full-time real estate investing.

Peter Vekselman has been successfully investing in real estate since 1996. He has completed over 1000 real estate deals, owned a construction company, been a private lender, and owned a property management
company. To learn more about Peter please visit
http://www.coachingbypeter.com.

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Is now the best time to buy in 20 years for Real Estate? Many industry experts are saying yes it is and that you still should be an informed buyer.

While the internet can provide you a tour of nearly all the homes on the market and certainly give you a sense of what is available and what is a good value it is still a good idea to seek some expert advice.

Starting Your Real Estate Search

The internet is the most widely used tool by today’s home buyer. Several websites offer features where you can see listed homes, addresses, pictures, virtual tours and maps of nearly every listed property.

A search saver feature should allow you to search throughout the real estate listings at your leisure, save a search of your favorite properties and log back in any time of day.

Enlist a Buyers Agent

Pick an agent that will take the time to work with you, answer questions and never give you any pressure or timeline to buy.

Learn about financing options right away.

Get pre-approved for a mortgage. A good lender will help you take an honest look at your budget.

Create a list of wants and needs for your new home.

Start a search for homes with your agent and get out looking.

Many home buyers believe that if they work with the listing agent they can save money. This is a big misconception. The listing agent represents the sellers best interest not you as the buyer.

Typically, a seller will have an agent involved in helping them negotiate the sale price of their home. This is why you need a buyers agent on your side. You need them to negotiate the best price and terms.

In real estate everything is negotiable and having a knowledgably buyers agent in your corner can help you make a strong offer without having to over pay for your new home.

A buyers agent has a fiduciary responsibility to you. Your agent should always answer questions about recent sales in the neighborhood, how many days has the home been on the market and any neighborhood facts that may affect your quiet enjoyment of the home.

How does your agent get paid? The seller of the home almost always pays the commission. The only way a buyers agent gets paid is upon a successful closing.

Most brokerages will have the buyer sign what is called a buyer compensation disclosure. In a market filled with desperate sellers it is a good idea to know that your agent is not steering you to higher paycheck for themselves.

Buying a home is maybe the largest financial transaction you will ever undertake. The process can be lengthy and sometimes confusing, and not having a buyers agent guiding you through the process can be a costly mistake.

According to a recent report by the National Association of Realtors, 86% of homebuyers reported difficulty and confusion in the home buying process.

Don’t let yourself be one of the eighty six percent. Get a buyers agent that can make your home buying experience as easy, educational and enjoyable as possible.

Kevin Curtis is a licensed agent with RE/MAX Advantage Plus. He is The Minnesota Real Estate Team’s 2007 Agent of the Year. Kevin and his team provide great service and ongoing insights into the Minnesota Real Estate market at
MinnesotaPropertiesOnline.com.

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With the meltdown of the real estate market in Phoenix, AZ, many people are seeing signs that advertise Cash For Houses. Are these companies legit? And how does their process work? For many homeowners, the temptation of calling one of these companies is enormous. Home buying companies that offer this program have several strong advantages when homeowners need to sell fast. The first is obvious; they pay with cash. Cash For Houses companies can close in as little as 3 days.

Many of these companies do not charge any realtor fees or commissions. Moreover, closing costs are usually picked up by the company too. Another huge advantage is their ability to buy your home in as is condition. Many realtors will not list a home if it needs substantial work. Homes that are fixer uppers can be a serious liability for many sellers. This is why many homeowners these days are seeing the advantages of using a Cash For Houses company.

The concept Cash For Houses has been around for quite some time. Homevestors, one of the largest national investor companies was started in the 1980’s in Texas. In the early 2000’s the need for a company that buys houses for cash wasn’t as strong. Therefore, there simply wasn’t as many of these companies. But, now with so many homeowners facing foreclosures, or simply don’t have the money to fix up their home, many are utilizing the services of a Cash For Houses company.

There are over 50,000 homes actively listed on the MLS. And this number doesn’t even include all of the new homes being produced by builders. After seeing these statistics, it is easy to understand why there has been an increase in the number of companies that advertise We Buy Homes. Cash For Houses companies will likely continue to be needed for several years to come.

But are the Cash For Homes companies legit? Before signing any paperwork with a company that claims Cash For Houses, make sure you do your homework. This includes asking for references, calling the department of Real Estate and calling the Better Business Bureau. There are many honest and ethical companies that will buy houses for cash. Although problems with Cash For Houses companies have been rare, as with any industry there can be a few dishonest people.

Reed Lattin is real estate investor in Phoenix, AZ
Reed works for AllHomesAZ.com which buys all homes
AllHomesAZ.com-member of the Better Business Bureau
Sell your home fast at www.allhomesaz.com
Contact Reed Lattin directly at 480-227-5214

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