The Jetsons Would Envy This Home.
I always love these homes with all the gadgets, I’m a gadget person. If you are in the process of building or remodeling a home it would be fun to add some of these features.
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10 Reasons to invest in Turkey…
No, not Turkey futures - the country. While countries around the world are rushing to invest in the soft U.S. Real Estate Markets - others are stuffing their money into a small country in the Middle East - Turkey.
Offshore investment is gaining significant popularity as the world is being shrunk by affordable long distanct travel and the increased ability to communicate over long distances quickly through the internet.
Here are the 10 Reasons to Invest in Turkey
Bored? Here’s some more for the ‘Honey-do’ list.
Looking for easy weekend projects to work on around your home? A recent article on RIS Media detailed 10 high impact activities that homeowners can easily do around their homes to help quality of life and real estate values.
Selling Short? Here’s some relief.
A bill was passed recently providing some relief for families and individuals affected by the recent surge of looming foreclosures. When people sell their houses short (i.e. sell their home for less than they owe on it with permission from the bank causing the bank to “forgive” thousands or tens of thousands of dollars to avoid a foreclosure.) there is loss for the banks and gain for the former homeowner.
Example (and to keep the numbers simple - I’ve not included Real Estate Sales Fees, Closing Fees etc. For purposes of this example, consider them included):
$100,000 Mortgage Balance
$85,000 Final Short Sale Price
Loss to Bank: $15,0000
Gain to seller (forgiven debt) $15,000
In previous situations banks would 1099 the previous owners for their gain, but the IRS does not recognize this as gain for most situations anymore. As the article states “we don’t want to kick them while they’re down.”
Many former short sale owners aren’t in the clear just yet - many states (Utah for example) allow the banks to come back after for their losses. Often times these are negotiated into the deal.
Foreclosures up in ‘07…
According to a recent article in the Spokane Journal of Business foreclosures were up by as much as 12% over previous years. The article goes on to mention that the numbers aren’t alarming, nor are they expected to reach foreclosure levels seen in other parts of the country.
Spokane has continued to grow economically with over 2% increase in jobs and a 10,000 rise in the median home price.
Live INSIDE the Box
A new “Inside the Box” idea is turning old shipping containers into “Future Shacks” inexpensive completely recycled homes. Some using it for mainstream new housing and others are using them for disaster relief. Either way the style and construction of these shipping boxes make them easily shipped anywhere around the globe with relative ease and minimal expense. Would you live in a “Future Shack?”
Check out the video below…
Seller Financing, What should you know?
I read an interesting article today detailing the pros and cons owner financing. While there may be no other option for some properties or situations, sellers and buyers should both know what they’re getting into and the responsibilities required to make it all happen.
The article advises the seller to think like a bank and realize “they’re not a bank.” Banks have a giant portfolio by which to spread their losses over should someone default, miss a payment or otherwise walk away from the mortgage.
Seller financing is a great option, easy to write up, can close the next day in some situations - but it’s not for everyone. In my dealings I’ve seen it most commonly with land transactions. More and more I’m seeing it on flipped properties or large investment portfolios where investment groups are seeing large returns on selling and carrying the note on the property at 8-10% or more.
Who Am I?Brandon L. Marchand - "The Spokane-Coeur D'Alene Home Guy"
http://www.spokanehomeguy.com
REALTOR - Exit Real Estate, Jones & Associates in Washington
REALTOR - Exit Realty Coeur D'Alene in Idaho
WA Phone: (509) 990-SOLD
ID Phone: (208) 699-7390
Fax: (509) 471-0635
Contact Online: Click Here