Well, Here I go jumping off of a cliff! The strongest team members I have are in construction, and so I have found a house in a nearby hilltop city. The builder ran out of funds. Here sits this beautiful half finished house, and I'm preparing my offer. Here is the juicy info. Its a DOUZY of a first deal! If I can do this I will have NO FEAR of doing ANYTHING in RE!

Custom home in higher end area
OFFERING: 550K
Comps for same size/beds/ba & area: 1-1.6M

This story found at: http://www.realtor.org/RMODaily.nsf/pages/News2010041901?OpenDocument

The number of delinquent mortgages declined 8.6 percent in March, says LPS Applied Analytics, which tracks the performance of loans for investors. Totals also declined in February.

The biggest decline was in loans more than 30 days past due, which are now at about the same level as they were in spring 2008.

"We're not out of the woods, but this appears to be a turning point," says LPS Applied Analytics President Ted Jadlos. "This is the first time we've seen improvement across all stages of mortgage delinquency."

Source: The Wall Street Journal, Ruth Simon (04/19/2010)

I had a contract on a short sale. It’s been in for almost a month now. I knew it could be a wait on it but this threw me for a loop.

My Realtor (listing agent) called me today to tell me their listing was expiring with that house. And now I have to go in tomorrow to get my EMD back and sign something to cancel the contract I guess. He said it would probably be going into a foreclosure now and off the market for little while.

Anybody heard of this?

After reading Dean's book, Profit From Real Estate Right Now I was determined to make some money in real estate somehow, someway. Both my husband and I married each other having horrible credit. Mine went from immaculate to horrific because of a messy divorce and my husband's went bad because of a long term family illness.

The hard-hit southern California and Las Vegas housing markets will experience a mass sale of repossessed Freddie Mac properties on April 24th and 25th. Hundreds of New Vista and HomeSteps REO properties will be auctioned off in Las Vegas on the 24th and hundreds more will be sold at auction on the 25th at the Inland Empire.

People eligible to attend the initial auctions in the mornings of these two days are first time homebuyers who are eligible through the Neighborhood Stabilization Program (NSP). The program qualifies buyers for closing costs and down payment assistance when the new buyer takes over an REO property. In the afternoon separate auctions will be held for those who are not qualified under NSP.

First and foremost I have to think the success acamady and my on site mentor Matt and my great coach Drew and Dean for putting all this together. And I must say all the coaches at the success acamady are great. I joined the sucess acamady in OCT of 08 and did not close my first deal till June the 21 of 09. When I look back I really wonder if fear didn't play a big part, But thinks to the success acamady holding me accountable look what has got accomplished in 10 months, It did take a lot of work to find what would work in my area' But it has payed off. I do own 17 homes to date and the most amazing thing about this i had bad credit, no job and just filed bankruptcy.