Monthly Archives: September 2011
Holding rental properties now more profitable (and predictable) than flipping
Thinking about buying and a home on the cheap and flipping it for big profits? That dream is all but dead as sales of homes to investors have dropped by more than half over the past five years, according to CNNMoney.com. Plus, the number of those investors who quickly sell off those homes — the flippers... Read More
Changes to FHA Mortgage Limits
The US Department of Housing and Urban Development has changes the maximum mortgage limits for FHA loans based on the median home sale price in our local market. The new limits for the Philadelphia Metro Area, effective October 2011, are as follows: Single Family Property – $379,500 Two-family Property (AKA Duplex) – $485,800 Three-family Property... Read More
So what are the possible short sale outcomes…?
Many people do not know that short sales stand a much better chance of approval as oppossed to a loan modification. However, there are a variation of outcomes that can occur. Mainly, the inconsistency involves how the lender deals with the deficiency. Here are some of the current outcomes being seen in the market place:... Read More
Right now, investors are cashing in on rental properties
Most of the news about the housing market lately has been dismal. However, the one bright spot is being overlooked by many – the rental market. Rental demand is up and and rental rates are rising. Many foreclosures victims (estimated north of 4 million) are now renters. Many prospective homeowners are concerned about losing their... Read More