By D.C. Fawcett, Business Building Coach to the Foreclosure Industry

When real estate investors evaluate their options for securing deals and making profits, there are several things that may come to mind. Whether its preforeclosure, short sales, or bank owned foreclosures, foreclosure investing is still based on common principles, such as seller motivation, discounted purchase prices, and profiting from market appreciation. 

Where do most investors turn when they first seek opportunities in real estate foreclosures?  A great way to start is to take a look at free investment property listings that come from either real estate agents or other private databases You can then use these free investment property listings to market your services or simply make offers. While free investment property listings may lead to productive and profitable deals, you also need to be up to speed with the big picture of your business.

The key is real estate training and also to work with a real estate agent who specializes in foreclosures. With the abundance of foreclosures out there, more and more realtors are promoting these opportunities and can provide you with free investment property listings to aid in your own pursuit.

Despite the leads you can generate from free investment property listings and the opportunities that exist with either preforeclosures or bank owned foreclosures, I think there is also a certain amount of risk for the investor because, without the proper foreclosure training, no amount of free investment property listings can properly educate you on how to properly run your business. Profits can be lost and so too can basic opportunities when you lack the proper real estate investing training.

I assure you that there are virtually unlimited deals to be found within the realm of real estate foreclosures. Whether you’re just curious how to make money with foreclosures or really dive in and engage in serious investing (made easier with both a steady source of free investment property listings and quality real estate training), there is a place for you in this business and you owe it to yourself to pursue it.

In today’s market, foreclosures as much as part of real estate investing as any other part of the business. Make sure you have a realtor on your team who can provide you with free investment property listings (or simply look for free investment property listings on your own) because the deals are out there to be had. Commit yourself to real estate training, and I wish you the very best in success in real estate foreclosure investing and in business as a whole.

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Everyone says it is a Buyers Market and to Buy Now. Is that really so true if almost half or the majority of real estate sales are foreclosures, REOs and short sales. It seems to be more of a Bankers market.

SHORT SALES:
Short Sales may be a great buying opportunity.  The major complaint from people is the time involved to get it approved by the lender for the short sale price.  The home is normally listed by a real estate agent for a value that they feel is right to bring buyers, and will be adjusted accordingly once the lender has finished a complete home valuation analysis to determine the actual sales price.  The majority of the time the lender approves a sales price below the current market value just to sell it quick.  One needs to remember that prices in the first-time buyer range have lots of competition which could make it bidding war.

Immediately after the lender approves the short sale and home value, time must pass before it is actually gone. The time involved may range between 3 to 6 months or more until it is actually gone.  Although, during that time anything can happen such as the seller could work out a loan modification, not show the home to prospective buyers and simply let it go into foreclosure.  If you have made an offer on a short sale, do not be surprised if more offers arrive once there is an approved short sale.

BANK OWNED HOMES
Bank owned homes are the ones everyone wants because they are priced aggressively and  ready to be purchased.  There is no long waiting. You simply need to act before the competition.  When a bank owned home comes onto the market, you will want to be one of the first ones to make a solid and strong offer.  The better your offer, the more chances you have to win.  A worthy offer to the bank is one that is close to the listing price, or above the asking price, with a large down payment or an all cash offer. People can find  Bank Owned Homes in most major cities and suburbs.
 
“NORMAL” MLS LISTINGS 
If you are like most people, they are looking for a bargain or discount when it comes to most consumer items and even more so when it involves buying a home. Buying a home that is listed on the multiple listing service which is not a short sale or a bank owned home you can still find a good deal if the seller priced their home aggressively. Some sellers are doing it simply due to personal reasons such as work or other financial debts.  You can still offer what you think is a fair price to the seller and even somewhere close to an exact property that is a foreclosure that sold down the street.

Frank Collins
http://www.articlesbase.com/real-estate-articles/short-sales-bank-owned-properties-reos-and-standard-listings-709604.html

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Everyone says it is a Buyers Market and to Buy Now. Is that really so true if almost half or the majority of real estate sales are foreclosures, REOs and short sales. It seems to be more of a Bankers market.

SHORT SALES:
Short Sales may be a great buying opportunity.  The major complaint from people is the time involved to get it approved by the lender for the short sale price.  The home is normally listed by a real estate agent for a value that they feel is right to bring buyers, and will be adjusted accordingly once the lender has finished a complete home valuation analysis to determine the actual sales price.  The majority of the time the lender approves a sales price below the current market value just to sell it quick.  One needs to remember that prices in the first-time buyer range have lots of competition which could make it bidding war.

Immediately after the lender approves the short sale and home value, time must pass before it is actually gone. The time involved may range between 3 to 6 months or more until it is actually gone.  Although, during that time anything can happen such as the seller could work out a loan modification, not show the home to prospective buyers and simply let it go into foreclosure.  If you have made an offer on a short sale, do not be surprised if more offers arrive once there is an approved short sale.

BANK OWNED HOMES
Bank owned homes are the ones everyone wants because they are priced aggressively and  ready to be purchased.  There is no long waiting. You simply need to act before the competition.  When a bank owned home comes onto the market, you will want to be one of the first ones to make a solid and strong offer.  The better your offer, the more chances you have to win.  A worthy offer to the bank is one that is close to the listing price, or above the asking price, with a large down payment or an all cash offer. People can find  Bank Owned Homes in most major cities and suburbs.
 
“NORMAL” MLS LISTINGS 
If you are like most people, they are looking for a bargain or discount when it comes to most consumer items and even more so when it involves buying a home. Buying a home that is listed on the multiple listing service which is not a short sale or a bank owned home you can still find a good deal if the seller priced their home aggressively. Some sellers are doing it simply due to personal reasons such as work or other financial debts.  You can still offer what you think is a fair price to the seller and even somewhere close to an exact property that is a foreclosure that sold down the street.

Frank Collins
http://www.articlesbase.com/real-estate-articles/short-sales-bank-owned-properties-reos-and-standard-listings-709604.html

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Short Sales are when a lender is “shorted” on the balance of the mortgage that they are holding.  The client can’t afford their monthly payment and have to find other means on getting out of their current financial situation, by selling their home.  Doing a short sale could be like wrestling with a Tiger and trying to win.  There are so many stipulations on doing short sales and most of the lenders won’t even talk to you about doing one. 

Lenders are leery about the short sale process; they’re going to lose money on the sale itself.  Lenders will determine if the short sale is a good step for the client and also for them.  Short Sales are a case by case process, which is only determined by the lender themselves.  Most lenders are losing anywhere between 40k-100k per sale; which is going to affect their bottom line.    

  The work on the part of the seller and buyer on a short sale is overwhelming.  The lender doesn’t have a specific department dealing with short sales directly, like with Home loan modifications (loss mitigation department).  The seller could be making a lot of phone calls to the lender just to get to the specific person.  Here is some basic information that is needed on a short sale, bare in mind that every lender is different.

·         Call the Lender

·         Submit Letter of Authorization

·         Preliminary Net Sheet

·         Hardship Letter

·         Proof of Income and Assets

·         Copies of Bank Statements

·         Comparative Market Analysis

·         Purchase Agreement & Listing Agreement

·          

Home loan modifications are in essence the restructure of the original contract with the lender.   Many adjustments can be made on the contract to bring it to a current status, if delinquent.  Lenders will be able to restructure the current loan by lowering the interest rate, lowering the monthly payment, reducing the principle balance or changing the terms to a fixed rate, (if current loan is an ARM, adjustable or interest only loan). 

Currently lenders are gearing towards home loan modifications.  Lenders are feeling “safer” doing a loan modification because they are not going to lose money.  The process for a loan modification is easier for the owner.  There is a specific department with the lender that you can speak with (loss mitigation department) when wanting to do a loan modification. 

The economy being in the situation that it is currently, and from my experience, home loan modifications are the way of the world.  It is actually a “win/win” situation for the home owner and for the lender.  The home owner gets the relief that they are searching for, and the lender get to bring the delinquent contract to a current status, showing profit. 

If you are feeling the pinch of a delinquent home loan and stressed about losing your home to foreclosure, we are here to assist you.  We offer a money back guarantee if we can’t get your delinquent home loan modified.  For further details on how to obtain a loan modification please visit www.swdebtrelief.com.

                                                                               

George Tucker
http://www.articlesbase.com/mortgage-articles/short-sales-vs-home-loan-modification-669434.html