September 9, 2007
Search Fayetteville NC real estate for Foreclosures
In the near future I’ll be enhancing this post with video but for now if you want to search Fayettveille NC real estate for foreclosed, or otherwise distressed properties try using FavoriteHomeFinder.com This MLS based search tool is the most powerful engine available for the Fayetteville NC real estate market.
After the page loads look to the bottom right to select or de-select foreclosure status
September 23, 2006
Exotic Mortgages
Most homeowners don’t fully understand the risks associated with taking on alternative mortgages that allow interest-only payments or negative amortization. You may have seen or heard the ads for Quicken Loans or similar, just know this, with some of these loans the payments are really low but after several years of payments you may owe more on the house than when you bought it.
While rates are low most people are best served with a 30 year fixed rate. If the payments are more than you can handle then you should probably get a cheaper house.
September 21, 2006
Real Estate Foreclosures for Investment
I’m always tickled when I see the words great starter home or great investment in the caption describing a home in an ad or the multiple listing service. Why you ask? Because the house is almost always low priced, run down and ugly. Shouldn’t a great investment or starter house be good looking? If you’re buying an investment house do you really want to be in the low priced market? And If you’re buying a house to live in or as a rental do you really want to dump a load of money into it right off the bat? Sometimes it makes sense but when I see “great investment” or “great starter” I run the other direction.
I’m convinced most people, agents included, have no idea what makes a good investment property. Here’s an easy test; would you buy the house to live in? If the answer is yes then it’s probably worth a closer look. If not, keep looking. Your goal is to make money in investment real estate not lose your lunch money on the first house somebody else says is a great investment or a great starter house.
Thanks for reading
Ron
