Real Estate News

Ok, So the 90 day flipping rule has been suspended through 2012. I believe one of the main reasons is so properties will turn over faster to help the economy. It seems many lenders ignore this suspended rule and still will not allow our retail buyers to purchase our flips until we have been on title for 90 days. In fact they will not even let them submit the purchase agreement until the 91st day. I started thinking to myself, if I can get a re-finance cash out loan on my properties (without seasoning) why wont they lend to a retail buyer?

This is via trulia.com....id love to have your input on this!

If you’re anything like the average New Year’s Resolution-setter, you’ve probably already declared that 2012 will be your year. And that means different things to different people. It might be the year you pay off your credit cards, fit back into your “skinny” clothes, or finally take that dream vacation you’ve been eyeing.
Given the volatility of the real estate market over the last few years, my guess is that more than a few of you are also considering including real estate resolutions on the short list of things you want to take care of over the next 12 months.

The Story Of The $1.1 Million Facebook Referral And Century 21 Realty's New Social Media Era
BY Lydia DishmanWed Oct 26, 2011
84% of Realtors are currently using social media. Century 21 is leveraging Facebook to turn those conversations into sales.

What is a power team?
A power team, or dream team, is a team of people who can handle your business needs as a real estate investor.
A good power team is crucial to your success as a real estate investor, and oftentimes finding one member of the team can lead you to the others.

Who should you have on your power team?
You ( are the conductor)
Mentor
Real Estate agent
Mortgage Broker
Credit repair
Investors
Insurance Agent
Licensed Contractors
Handy Man
Banker
Title Company
CPA
Real estate Lawyer

How do you find all these people?

The Rising Toll of Falling Prices

Home prices have fallen again. In fact, they've fallen below the recession's previous low, putting us into a "double-dip" for housing.

The S&P/Case-Shiller national price index dropped by 4.2 percent during the first quarter of 2011 from the last quarter of 2010, and it was down 5.1 percent over the first quarter of last year.

"This month's report is marked by confirmation of a double dip in home prices across much of the nation," said David M. Blitzer, chairman of the index committee for Standard & Poor's. He added, “home prices continue on their downward spiral with no relief in sight."
...

We are just starting this venture. Could someone tell me please what percentage your real estate agents receive from the sale? thank you.

If anyone posted on this issue already, I clearly missed it. I was logging on to come to the DG website when I saw Richard Branson's name listed as #6 on the "Trending Now" section of the Yahoo webpage. I clicked on it and, to my astonishment, the headline read, "RICHARD BRANSON'S NECKER ISLAND ESTATE DESTROYED IN FIRE; FAMILY SURVIVES." I was devastated. I followed his career as far back as the '80's when Virgin Records came on the music scene. After Dean started talking about Richard and stating how such good friends they are, I knew I was in good company being a part of the DG family even that much more!

http://www.bloomberg.com/news/2011-07-27/bank-of-america-donates-then-de...

BofA Donates Then Demolishes Houses to Cut Glut
By Lindsey Rupp - Jul 27, 2011

Bank of America Corp. (BAC), faced with a glut of foreclosed and abandoned houses it can’t sell, has a new tool to get rid of the most decrepit ones: a bulldozer.

The biggest U.S. mortgage servicer will donate 100 foreclosed houses in the Cleveland area and in some cases contribute to their demolition in partnership with a local agency that manages blighted property. The bank has similar plans in Detroit and Chicago, with more cities to come, and Wells Fargo & Co. (WFC), Citigroup Inc. (C), JPMorgan Chase & Co. (JPM) and Fannie Mae are conducting or considering their own programs.

http://www.american-apartment-owners-association.org/blog/2011/07/07/fan...

Fannie Mae Suspends 6 Month Waiting Period for Cash-Out Refinance
Posted on Thursday, July 7th, 2011 at 9:55 am

Fannie Mae currently requires a minimum of six months to elapse between the time a borrower purchases a home and subsequently applies for a cash-out refinance.

However, the Selling Guide has just been updated to allow a cash-out refinance within six months of a purchase transaction when no financing was obtained for the purchase transaction under the following parameters:

I would like to pose this question to all REI. We haven't seen the economy in this bad of shape since the depression. I understand how millionaires were born during that time. My understanding is this time is a bit different. I want to know how this economy (the decreasing dollar and high unemployment) Global threat of countries going bankrupt, and our very own mortgage crisis the way that it is, how does this effect REI, private money and the like? If USA is on its way of collapsing (according to media reports) how does this effect our revenue?