CRR Blog

Great news to pass on to you today...

One of our clients picked up a home in Fountain Valley.  4BR/2BA on a foreclosing 2nd TD. She came away with around $100k in equity from the sale.  We are looking forward to hear about the last part of the story when they sell and make a tidy profit.  Note that this is a preferred area.  Most foreclosures get hung up and are cured because this area has a strong reputation for a great school district and for a city that manages its finances and does things the right way.  Remember that location is key when it comes to reselling and you always want to know that you have a great location when selling.  A little TLC can turn a sow's ear into a silk purse if you have the knowledge and the ingenuity to work a flip.  The key is in getting in and out in quick time and not doing anything more than you absolutely have to do.              

You are in for Real Treat this week!  

Kurt DeMeire will be joining Sam Sadat at Sam's RE Club from 6:30pm to 10:00pm.  The address is 3084 Motor Ave in Los Angeles, CA 90064.  This address is the Beverly Hills Country Club.  For more information you can go to our website and look at our calendar of upcoming seminars.  You can also go to www.samsreclub.com or call 1-800-998-9930 to reserve a place before Wednesday.  Tickets at the door are $25.00.  Note that this is a Sam's RE Club event and your price per seat funds their efforts to bring you outstanding talented teachers and to help you develop your Real Estate Portfolio.

Kurt will be handing out information regarding the Best Ways to Buy in this Market.  He will also answer questions for you and demonstrate the www.countyrecordsresearch.com website. 

If you are looking for properties with equity, there are many today.  The most obvious are the Reverse Mortgage Foreclosures.  Here is an example:

3BR/2BA House on Stamps Rd in Downey.

1st TD is $544,185.00

2nd TD is $1.00

The asterisk is on loan #1

Default Amount is $286,692.00

Estimated Value is $445,778.00

If this were a standard loan it would look like the house was upside-down with debt.  But the default amount on loan #1 is ALL THAT is OWED!!!

That means you have a $445,778.00 property with only $286,692.00 debt, or $159,086 in equity!!!

Disregard the $544,185.00!!!

You have a family that has lost a loved one who was the breadwinner.  They have equity, and they are faced with the prospect of having to get a new loan or sell the house.  Make an offer!!! 

If you are a Realtor, this should be an Absolute Goldmine!!!

This September you will remember for a very long time.

You will remember that the rumors of a foreclosure slowdown were greatly exaggerated, as we had said.

You will remember that this is the first month that the number of foreclosure auctions jumped in 4 years.

You will remember that we told you this was coming.

You will remember that economists had been warning about the stock market being dangerously high.

You will remember that the Federal Reserve reported that 70% of households don't have $400 in cash reserves.

You will remember that we have encouraged you to leave the stock market and buy hard assets with your cash.

If you applied all we have taught you, you may just have landed a great deal or two this month too.

If that is the case, you will remember this as the month you made a difference..