These are some short stories in the news this week of interest to real estate investors.

Home Sales Suffer from Tight Lending Restrictions

Since 2006, home prices have fallen nationally by around one-third. Home affordability hasn’t been at this level in decades. Home prices are at rock-bottom, and interest rates are at historic lows as well. This would seem to be a perfect storm for normal home buyers, but there’s nothing stirring.

I get a call from a seller that a sent a letter to and he wanted to sell his property.I ask him how much he wanted and he said 25k,so I immedeatly sent a mass text to my buyers list and one of my Investors called and wanted to see it.After he saw it he called me 2 days later and said I can only pay 17k.So I went back to the owner and said all I can give you is 15k because it needed about 35k in repairs.It was a 4/2 2car garage and after repairs it would be worth 80k.It was in a good rental area.The owner countered at 16k and I said you got a deal.(never think that the seller would not go lower).So they closed 2 weeks later and I got a check for $1000 dollars.It only took me an hour to show my Investor the property,and negotiate.Does anybody know anyone that makes $1000 for an hour of so ca

There is a possible $20 billion settlement in the works with mortgage lenders for the benefit of foreclosed homeowners. However, the government says they’re launching another probe. They state that it shouldn’t influence the outcome of the current negotiation however.

While some analysts are calling the new probe “window dressing” and a political rebranding of previous efforts, the administration states that this new probe will be better than past joint-agency federal probes. Attorney General Eric Holder says that the new watchdog group will have more than 50 investigators and attorneys, and that subpoenas are being sent to 11 financial firms for records related to the buying and selling of mortgages.

over 4300sq ft for $165k

Unbelieveable! IF you dont think deals are out there,check this out.

This house sold new in 2006 for over $430,000, went to auction and didnt sell=REO

Bank wanted $280k,negotiated price to $165k=

purchase price was around $38sq ft.

Repairs $7000 ARV= $285k+

4bd, 3.5 bath, 4car garage,hardwoods,office,sitting room,crown molding,granite,the works!

No damage, just needs some paint and carpet cleaned, had kids and they scribbled on some doors and walls

NOTE: This deal was supplied by REAgent,important asset to your power team. Let the deals come to you.

Just closed on another deal , this was an absentee owner, that just wanted out.He owned it free and clear.He originally wanted 60K, I had talk with him twice , and he was really stuck on that number.So about 1 week went by and he called me and said he would drop it to $48K. So I let him think I still may have trouble moving it, and would he give me a contract on $46k.He agreed and I had a buyer that fit this house perfect.The end buyer is a buyer I got from a Cash Buyer letter campaign.Long story short
The house ARV $91,000, I got it for $46,300 , It needed $3000.00 in repairs.I assigned it to my end buyer for $5000.00. So he got it for $51,300.
I got the list of absentee owners from my realtor for free. You have to have a great realtor on your side.