Real estate market update

[highlight bg=”#fff199″ color=”#000000″]What’s the real estate market doing now?[/highlight] Lots of contrasting trends. On one hand,Notices of default are up 39% . But houses actually getting foreclosed on fell 28% from the prior quarter as...

Latest home sales numbers

When you look at home sales the important thing to look for is not just sales but inventory.  It is mostly inventory that impacts prices. When we look at sales for existing homes you should look at the ratio  between conventional and distressed, not total sales. So,...

Hedge funds leaving

Thank god that trend is going away . It’s been impossible to find deals when those big boys are in there buying without regard to comps. They don’t have to worry about appraisals  since they are paying cash. We as investors have to be concerned about what...

203 k loans are back

This is a loan that allow the borrower to role the purchase price and the rehab costs into the the loan. With all of the shadow inventory, foreclosure inventory (bank, tax, municipal etc…) and refi volume going away, many lenders typically have and will...