In multiple articles around the Web, it’s being reported that recent numbers indicate a significant drop in foreclosures and homeowners dropping behind in their mortgage payments.

- Foreclosure filings in April fell for the third straight month to the lowest level since 2007.

- Bank repossessions, at 51,415 in April, were down 26% from a year ago and about half what they were in September 2010.

- In Arizona and Nevada, hard-hit states, bank repossessions were down roughly 70%, and in California they were down more than 50%.

- In the first quarter of this year, the percentage of borrowers who have dropped behind on their mortgage payments fell to a four year low.

- The percentage of loans delinquent fell to 11.33% in the first quarter, the lowest level since 2008.

This is another article from the New York Times this week, and it’s about commercial property appraisals. However, many of the problems discussed are also common to residential appraisal procedures around the country. Generally, studies are showing that there are wide variations in appraisals, but in the majority of cases properties are being over-valued.

I used my taxes check and purchase 2 properties:
One duplex with 3 beds and 1.5 baths each, and a Fourplex with 1 bed and 1 bath each one.
I sign closing documentation for one on May 17 and the other on May 24.
I just received an offer for the fourplex for $8,500.00 and waiting for an offer for the duplex for $5,999.00
If you use a little cash, imagination, persiting and no matter what others say, you will come with a deal!
This are my first two, and i am working now with a partners/investor and we are closing 4 more properties and will start rehabing one.

Check this link:
http://cheaprealestatehomes.weebly.com/index.html

Hey: if you need help, let me know.
Ernesto

I made my 1st DEAL!!!
Talk about addiction... I found mine!!
I know this stuff works but when you actually do it and it works omgosh!!
Searching through some ads I found a townhouse that a
gentleman had for sale that he started to rehab and
wanted to sell for $19,000.00. I called honestly hoping he
was a landlord thinking I could pick up someone to
add to my buyers list. During our phone conversation he told me that
he just lost interest and had enough rental income coming in
that he wanted to sell. So truly in my head bells and whistles went
off I heard one of the speakers from the edge event (sorry I don't
remember who) about packaged deals. I thanked him for his time and
told him I would get back with him. I did a little research and found

Hi Everyone,
I had my realtor send me properties that were on the market for 90 days or more.I looked for as-is,vacant,and needs rehab.So I put 25 offers in and 2 got accepted.So I said wait,this isn't right,if i got 2 offers accepted then I must have bid to high.I offered higher then what my gut felt.One of the deals I backed out during inspection,because I knew I was too high.The other offer I went with and sold it in 2 days.
3/1bth 2 car garage.
Renter in Place at 1200/month
No work needed!
1500sqft
ARV 90k
My price 45k
Wholesale price 46.5
The seller was so motivated to sell,I know I could have got it for 35k.Always go with your 1st instinct.
But I just love the fact of doing a deal!

An article at seekingalpha.com, an investing site, this week is titled “Private REITs Backfire on Investors Again.” A REIT is a Real Estate Investment Trust. Investors buy shares and the REIT invests in properties in one type of REIT. Another type invests only in mortgages, not owning the properties involved. There are publicly traded and private REITS, and the principal draw for investors is a nice dividend and possible appreciation in value as well.