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:
Interestingly, 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…]
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 the 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 2046
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.
Short Sales Now Widespread 2046
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.
There is a lot of media attention on foreclosures these days. It seems everywhere you turn the radio, TV and newspapers have increasingly more negative news.
Although there are many markets offering great real estate investment opportunities, it is true that there is a significant increase in foreclosures, and nationally the housing market has slowed down significantly.
February foreclosure activity was down 4 percent from the previous month but still up 57 percent from February 2007 according to the latest RealtyTrac U.S. Foreclosure Market Report. That equated to 1 out of every 557 households having a foreclosure filing of any sort. Nevada, California, and Florida posted the top state foreclosure rates, with California and Florida metro areas accounted for nine of the top 10 metro foreclosure rates in February.
I've put together a short list of links if you are interested in more information on the current state of foreclosures:
The summer of 2005 saw the dreams of hundreds of thousands of American people destroyed when Hurricanes Katrina and Rita hit the Gulf Coast. These hurricanes destroyed homes, stole lives and wiped out entire communities in Alabama, Louisiana and Mississippi.
The American government quickly named the regions most affected by the hurricanes as the ‘GO Zone' – short for the Gulf Opportunity Zone. Today the Go Zone is actively and passively experiencing a massive regeneration and rebuilding by thousands of people, from new businesses to new home construction. [Read more…]
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Continued Success!
