Archives for February 2009

Building Your Real Estate Team

February 25, 2009 by Marco Santarelli

A good real estate team is the way to assure your investing success. Failure increases when you tend to be a “lone wolf” and try to do too much by yourself.

In real estate, you need a good team of people you can trust and rely on. Here are some possible team members, and why they need to be on your team.

Mortgage broker or banker: A broker can offer you many loan options and shop your mortgage to find the best deal that meets your needs. A mortgage banker may be limited in the loan options they can offer you but they can make more decisions on your loan than a broker can. They each have their advantages and you should have both on your team. In either case, it's important that they understand your needs (i.e. fast closing, low interest, concession approval, etc.)

Property manager: Be sure that the company you hire has experience, is responsive, and will have time for you when you call. Good property managers can tell you what you should get for rent in a given area BEFORE you buy. Your property manager is one of your most important team members. Your real estate investments live and die by them.

Good real estate agent: An agent with experience in the area you invest in and access to the MLS (Multiple Listing Service) can be a great help. Even if they are a seller's agent, they can still ethically bring you the best deals once they know you're a serious investor.

Real estate investment firm: In addition to a real estate agent, you should work with a good real estate investment firm. These companies offer pre-screened investment properties in growth markets around the country. [Read more…]

Home Prices Dropped Sharply Late 2008

February 24, 2009 by Marco Santarelli

You were hoping the worst was over, but then they release the latest stats showing that home prices tumbled by the sharpest annual rate on record ending the fourth quarter of 2008.

The widely watched Standard & Poor's/Case-Shiller U.S. National Home Price Index plunged 18.2 percent for the fourth quarter of 2008 compared to the same period a year ago. That makes it the largest year-over-year drop in its 21-year history. The index shows homes prices at levels not seen since the third quarter of 2003.

Home prices in the 20-city index have dropped by 27 percent from its peak in the summer of 2006, and the 10-city index has fallen more than 28 percent.

Again, Norada Real Estate Investments reminds investors that there is no “national” real estate market and the all real estate is local. Therefore, focus on local markets nationwide that offer great buying opportunities and make sense the day you buy them.

New Investment Condos – 30 Month Lease-Back with Positive Cash-Flow

February 17, 2009 by Marco Santarelli

We just announced our latest real estate investment opportunity located in Ocean Springs, Mississippi.

Predicted by CNN Money to average 5% annual appreciation for the next 5 years. Forbes rated the Go Zone market as one of the Top 3 areas to invest, and Realtor.com rated the Mississippi gulf coast as the number one appreciating market of 2008.

This investment opportunity features a unique 30-month lease-back program that covers 100% of your mortgage payment, property taxes, homeowner association fees, management fees, maintenance costs, and utilities!

We also have several lending options available including some private financing options with 90% to 100% fininacing.

The investment is also Go Zone qualified for the 50% “bonus depreciation” provided by the IRS.

Visit our website and download the FREE Property Info-Pak for complete details, or just click here: Ocean Springs Investment Condos.