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Buying Foreclosure Equals Smart Article

NYC Coop Sales Price Now Public Information
It's an old axiom that, despite increasing numbers of condos, coops still account for around 80% of NYC's apartment inventory. Yet, until recently, the sales figures were shrowded in mystery. No more. A recently passed law allows access to these figures through use of the City's ACRIS system. While the link may not be up for long, you can find a pdf guide to how the system works at NYC.gov/html/dof/html/jump/acris.shtm.
Noah's Ark 2006
In the year 2006, the Lord came unto Noah, who was now living in the United States, and said, "Once again, the earth has become wicked and over-populated, and I see the end of all flesh before me. Build another Ark and save 2 of every living thing along with a Few good humans." He gave Noah the blueprints, saying, "You have 6 months to build the Ark before I will start the unending rain for 40 days and 40 nights." Six months later, the Lord looked down and...
Commercial Rent Prices Up - Square Footage Down?
A recent article in Business Week suggests that the open space model of the dot com era may, actually be a paradigm to enable businesses to reduce one of their largest expenses, namely, commercial office rent. Yet, the position of the author is hardly universally shared, eliciting a number of rejections and criticisms in the posted comments following the article. From my own experience, there is no doubt that, technologically, more and more things can be done in more and more places....
Bubble Metrics
I came across a very interesting website, that of the Center for Economic Policy Research, an organization that's done alot of looking into the housing bubble issue and that has alot of articles that you'll find interesting and informative. What's really noteworthy, though, is a unique bubble calculator that seeks to measure whether you'd be better off renting or buying by plugging in the price, mortgage terms, location and projected hold time into the fields, which then takes into...
Expected Report of Year Over Year 2nd Qtr Condo Price Declines
Today's NY Sun reports that an expected industry report on condo prices will show softening on a year over year basis for the second quarter. As the article recites, industry analysts opine on whether they foresee a repeat of the coop collapse of the late 1980's when oversupply combined with softening demand and tax reform to cause a sharp drop in prices. Some, according to the article, feel the City's overall healthy economy will prevent this recurrence in the case of...
Worried about Interest Rates? Tell that to the Rent Guidelines Board
In an unusually raucus session of the Rent Guidelines Board's annual spectacle on guidlines increases for rent stabilized apartments in NYC, the Board members could hardly hear themselves over incessant drum beats from Tenant activists, yet still managed to outrage them, while disappointing landlords in the process. Read about the meeting and the increases at <a...
Problems When the 1031 Tail Wags the Dog
Here's an interesting article about what happens when investors, in their zeal to meet the stringent time requirements of a 1031 exchange, invest in properties in areas they're unfamiliar with and do so without their usual degree of due diligence. <a href="http://www.realestatejournal.com/buysell/markettrends/20060615-hagerty.html?refresh=on" >http://www.realestatejournal.com/buysell/markettrends/20060615-hagerty.html?refresh=on</a>
Everybody into the Pool!
When it comes to Terrorism Insurance, the government's days as a reinsurer of last resort are numbered, ending in 2007 following one extension of a temporary act intended to restore confidence among the Nation's insurers and reinsurers following the huge losses suffered as a result of the 9/11 attacks. A lobbying group called the Real Estate Roundtable, <a href="http://www.rer.org/," >http://www.rer.org/,</a> recently proposed modeling a future system after that...
Taxes and Commercial Real Estate Activity in NY
Today's NY Sun has an interesting article sure to reinvigorate the timeless intellectual arm wrestling about whether booms and busts in real estate are primarily driven by tax policy or the business cycle. This article focuses on the infamous "Cuomo Tax", formally known as the Real Property Gains Tax, enacted in the '80's by then Governor Mario Cuomo. In short, the tax that excluded townhouses and one and two family houses, surcharged capital gains on most other...
Another View on the Bubble-No Bubble Coin Toss
Glenn Roberts, Jr. of Inman News today quotes from findings of the Anderson Forecast, an economic report out of UCLA. According to the report, housing is more likely to head for a crash rather than the gradually deflating balloon we've all be hearing about lately. For more, check out the article ( subscription required) at <a href="http://www.inman.com/hstory.aspx?ID=53488" >http://www.inman.com/hstory.aspx?ID=53488</a>

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Buying Real Estate Foreclosures Means Making Smart Investments.
Real estate foreclosures or bank owned properties are one of the top categories in the foreclosures real estate market. If you are searching for an opportunity to break into the real estate industry or smartly invest your money, then you can definitely consider purchasing real estate foreclosures.

The foremost reason when saying that buying real estate foreclosures makes smart investments is the fact that nearly all of the foreclosure properties are sold at prices way below the market value. The discounts may vary from 10 to 50% of the properties original prices. As an individual, real estate foreclosures could be your chance to find your dream house within your budget. As an investor, foreclosures real estate market is undeniably a very lucrative opportunity, for short term as well as for long term investments.

The first step in investing in real estate foreclosures is understanding how this long and complex process works. Patience and vigilance are the key qualities of a smart investor. You need patience because buying real estate foreclosures does not happen over night. In most cases, it takes several months to complete the purchase of a foreclosure property. And if you don’t rush things out, maybe you even get a better price. You need to be vigilant and agile so that to spot the best deals and be prepared to sign an agreement and place a down payment.

A smart investment is always about doing your homework in advance. Therefore, research is a very important part of the real estate foreclosures purchasing process. You can do research by visiting real estate dedicated websites and consulting their foreclosure listings. The perfect start point is E-ForeclosueSearch.com, an industry expert providing quality foreclosure homes listings and comprehensive know-how services that professionals and savvy investors demand. Their huge database contains over 500,000 listings of bank foreclosures, government foreclosures, HUD homes, VA homes, real estate auctions, foreclosure homes, distressed homes and fixer-uppers,

and particularly Fannie Mae homes.

Fannie Mae is a federal agency that purchases real estate foreclosures from banks and sells them to consumers at a considerable discount. Again, the best source of information is E-ForeclosueSearch.com, which provides convenient listings of Fannie Mae homes and additional help, in case it is needed, to locate Fannie Mae homes. This particular type of properties on the foreclosures real estate market is alluring due to the exceptional financing requirements. The amount needed for down payment in order to buy a Fannie Mae property is of three to five percent of the purchase price. You should investigate the home thoroughly before you make an offer to buy the home because Fannie Mae properties are sold in “as is” condition. Usually, Fannie Mae agency repairs the home but those repairs are not guaranteed.

As a general rule, when purchasing real estate foreclosures, a $1000 deposit is usually expected, and the potential customer must be able to provide the proof that he has the additional funds considered necessary to pay off the amount owed on the home. The payment required initially depends on two things, the owner of the property and the value of the property. Some banks require a minimum payment of $500, or at least 10% of the amount of your offer. In the case of real estate foreclosures, since the bank owns these properties, you have the opportunity to negotiate unique and flexible sales agreement. So, it’s high time you prove how good a negotiator you can be.

No matter the type of real estate foreclosures you decide to invest in, never forget that in the foreclosures real estate business the rewards follow the risks one takes. The higher the risks, the greater the results, including here the financial benefits. But it is advisable to calculate the risks in advance, than be sorry in the end.