Norada Real Estate Investments

Tax Considerations for the Real Estate Investor

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There is no human invention more complex than the tax codes, and among the most complicated are the laws surrounding real estate investing.  So, what follows is NOT to be considered legal advice — consult your attorney or tax accountant before making any decisions.

Well, now that the rear is covered, what considerations should the real estate investor keep in mind?  Since laws vary between countries, and between states within the U.S., any general advice would be worthless.  But here are some particulars that apply in many areas. [Read more…]

Top 10 Real Estate Investing Books

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There are literally thousands of books on real estate investing.  I myself have one of the largest collections of them known to mankind!  But seriously now, I do own a rather large bookshelf jammed full of real estate books, tapes, CDs and DVDs.

So I thought I would share my top 10 real estate investing books with you.  That's not to say that I only have 10 favorites, because I could easily add another 10.  But for those of you looking for some good book recommendations they are:

[Read more…]

The Road to Real Estate Recovery

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Road to Real Estate RecoveryInterestingly, the National Association of Realtors predicts a gradual recovery during the second half of 2008 as the mortgage situation improves.

I’m sure we would all love to see a recovery before the end of the year. But that remains to be seen given the current mortgage climate where more than 120 mortgage lenders have either filed bankruptcy or closed their doors all together.

We have seen home prices drop in most major markets with sales activity at its lowest level since at least the late 1980’s – around the same time the Savings and Loan Fraud Crisis hit its peak. [Read more…]

Short Sales Now Widespread

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Roughly 20 percent of all U.S. home sales in March were “short sales” according to a real estate industry survey conducted by Washington-based Campbell Communications. According to their research, two-thirds of short sales are initiated by homeowners and one-third are launched by mortgage lenders (as a foreclosure alternative).

In a typical home transaction the seller gets final say on which buyer gets the home, but in a short sale the lender weighs in on that decision, since it’s the lender who won’t recoup 100 percent of the seller’s mortgage balance as in a “normal” home transaction.

Buying a Short Sale Can Be A Time-Consuming Process

It is important to know where the seller is in terms of discussions with the lender. The lender can drag the short-sale process on for a very long time. An offer may take anywhere from four to six weeks to get a response. But if the buyer is in the market to purchase a short-sale, then patience is going to be vital in order to pick up that good deal.

Mortgage Fraud Claims Rise 42% in 2007

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Reports of suspected mortgage fraud rose 42 percent last year as banks became more leery of lies on loan applications.

The Treasury Department's Financial Crimes Enforcement Network said Thursday that there were 52,868 reports for mortgage fraud in 2007, up from 37,313 a year earlier. Mortgage fraud reports were the third-most common type of suspicious activity.

The most common type of mortgage fraud was misrepresentation of income or assets, followed by forged documents, misrepresentation of a borrowers' intent to occupy a property as a primary residence occupancy fraud and inflated appraisals.

The Mortgage Bankers Association has called for more than $31 million over the next five years in new funding for the FBI and Justice Department to fight mortgage fraud, money that would go to new investigators and prosecutors.

This is just one of the reasons why most lenders today have pulled their stated-income loan programs, while others have raised the credit requirements to qualify for such loans.

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Norada Real Estate Investments 30251 Golden Lantern, Suite E-261 Laguna Niguel, CA 92677

(949) 218-6668
(800) 611-3060
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