Buying Foreclosures, REOs. Short Sales, FSBO, MLS and More

I found this article on CNNmoney.com. Has some interesting information about the declining amount of forclosures nation wide.

NEW YORK (CNNMoney) -- The mortgage delinquency picture is getting brighter, according to an industry report released Thursday, with falling delinquency rates indicating the housing crisis may be at the beginning of its end.

A quarterly release from the Mortgage Bankers Association revealed that mortgage payment problems eased during the first three months of 2011 for every category of default.

The rate of loans past due, unadjusted for seasonal factors, decreased 1.17 percentage points to 7.79% from 8.96% during the last quarter of 2010. It was down 1.59 points year-over-year..

I have about 5 properties that are 50-60% below asking market value, but the problem is that Im having trouble finding "Serious" Investors. I live in NC. Are there any investors out there???

So, what exactly is short sale fraud? It takes many different forms. Here are a couple of the more prevalent ones across the country:

Hey All,

I am new to this website and deans course work.I am in the process of reading his first book.

One concern i had was, all the properties listed here in the bay area start around 150-200K. i am a little scared to start buying them. at least the first one.

which type of properties should i focus on in waht price range to start with...

ANy suggestions..

Sorry I don't get a chance to post on here as much as I'd like, but here's where I'm at... I'm coming up on my 12th month in real estate and getting ready to close on my 12th deal. Sometimes I have to remind myself to stop and take a look back and see what's happened in a year. It's truly been amazing! It's equally amazing how much I've learned in the process. We have branced off from accumulating rentals and started flipping as well. I currently have 2 on the market, one being rehabbed and one waiting to close. I had to fill out a current personal financial statement this week for the bank and realized my net worth just creeped over $350,000. A year ago it was negative!

the daughters are from out of state, but home is close to me. Because of no will, they have to go through probate, this is a really nice home!
The man that lived there was handicapped in wheelchairs, but owned a really nice home, in a very nice neighborhood.
As you pulled into the garage, it was built into a hill, so that was attached to the basement. Big rec room, 2 smaller rooms off that, full bath, and the elevator for wheelchairs to go upstairs.
Upstairs, living room, kitchen, dinning, master bedroom with very large handicap bathroom, with whirlpool and "drive in" shower stall. Plus 3 more bedrooms and another full bath. House is is very good shape, but would need new carpeting and the walls are awful colors. Beautiful patio with ramp for wheelchair access and big doors.

I have NEVER seen anything like the REO market where I am located! Almost every one of the REO's is CONSTANTLY "Under Contract" right when I go after them. They will sit there, un-wanted and un-offered and then the second you make a move on them, they are "taken".

got an email back....I thru out an email to an individual i located off of craigs. I want to lock this deal up for an assignment of contract for the eqiuty i found. He wants cash in a cashiers check is firm on his amount which is still @ a 48% off of FMV price. IM just a little shaking on how to present the deal to him.hes not a local but property is hes tired ,sick and in debt.hes asked the tenants to vaccate by the end of the month...tenants been there a long time still paying 600 for monthly rent when monthly rent comps aroond that area are much higher...Any suggestions so I can unfreeze on my email page?

"The REI World where Time is of the essence!!!!"

Michelle

Does anyone know how to assign a short sale? If so, how does that work? Do you have to do a double close or what?

Good morning, all. If anyone actively invests or lives in Norristown, PA, could you please tell me if this area is a "hot spot" for investing? I'm starting to expand my areas of concentration, and Norristown Boro is an area I'm starting to gain interest in. If you are familiar with the George Street and W. Spruce Street areas, are they comfortable, pleasant areas? I'll be soon taking a trip out there just to get familiar with this town. Thanks in abundance!