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FHA program funds fixers
Investors have been taking advantage of low interest rates and discounted prices to buy run-down foreclosure properties, sometimes 10 or so at a time. They fix up the properties enough to be rented until the market turns, which could take years. When the time is right, the investor puts the finishing touches on the improvements and hopefully sells for a profit.
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Tips for handling contingent offers
Financing a trade-up move is far more difficult now than it was before the economic meltdown of fall 2007. Today's guidelines require such buyers to qualify to carry two mortgages, to have verifiable income, and have enough cash for a downpayment.
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CALIFORNIA ASSOCIATION OF REALTORS®
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Harold Avent, CDPE, CRS, e-PRO
REALTOR®
REMAX Execs
23740 Hawthorne Blvd, 2nd Floor
Torrance,
CA
90505
310.493.0711
Contact Me
Visit My Web Site
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2010: year of the turnaround?
A spurt in home sales in 2009, aided by low interest rates and the first-time homebuyer tax credit, has led some economists to forecast a turnaround in the housing market this year. Other forecasters feel this is too optimistic a projection.
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Rate-lock dos and don'ts
Interest rates dropped at the end of last year after creeping up over the summer, with 30-year fixed-rate mortgages with interest rates below 5 percent readily available.
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