It's interesting to see how builders' incentives to prospective buyers are changing. In previous blogs, I wrote about builders offering flat-screened TVs, new microwaves---and even a free car to entice buyers to purchase homes. And their incentives continued to "grow" as the housing market declined---free upgrades, free trips, and prices slashed even further.
I just read an article in the
Posted by: Carleton Sheets in Real Estate Market, Real Estate, mortgage, Land, Housing Market, Foreclosure, Economy, Credit crunch, commercial real estate, Commercial Lending, Builder on
Jan 26, 2009.
Builders can't seem to get a break. Those who managed to weather the economic storm so far are coming under fire again---according to a recent article in The New York Times. When I first read the article, I couldn't help but agree that the home-building industry "faces a devastating reversal of fortune," and I wasn't surprised that some lenders are foreclosing on newly constructed
Posted by: Carleton Sheets in Rehab, Real Estate Market, Real Estate Investor, Real Estate, Lender, Investing in real estate, Interest Rate, Hard money, Credit crunch, Credit on
Nov 09, 2008.
My Coaches and staff members are fielding calls about the squeeze of the credit market every day. Let's face the facts ... it is difficult for many people to get a loan right now. Only those investors who have stellar credit and a down payment are able to take advantage of this market to buy properties at rock-bottom prices---at low rates of interest.
However, if you are like many investors,
Posted by: Carleton Sheets in Stock market, Real Estate Market, Real Estate Investor, Real Estate, Positive Thinking, Money, Lender, Credit crunch, Credit, Commercial Lending, Commercial Banking on
Oct 20, 2008.
In an article by Kenneth Harney that recently appeared in the Washington Post, he points out that amidst the crisis sweeping Wall Street, lenders are still originating loans for home mortgages.
This is great news for those buyers who are just venturing into the market---and also for real estate investors!
The article talks about how the Wall Street meltdown, especially the slow down of
Have you wondered how we, as real estate investors, can help speed our economy on the road to recovery? Buy a property! If you find a property that you want to add to your portfolio---and can qualify for a mortgage---don't sit on the sidelines. And if you don't qualify for a mortgage, consider purchasing a property using one of my creative financing techniques.
Why? Well, as an article in USA
Posted by: Carleton Sheets in Credit crunch, Creative Financing Techniques, Bailout on
Sep 28, 2008.
I've been asked my opinion about the current government bailout and how it will affect real estate investors. If you are currently a real estate investor, you may have noticed that it has been more difficult to get credit---even if you have excellent credit! Banks have tightened their lending standards, lowered their LTV (loan-to-value) limits, and are very cautions about who, what, why, and
I am both shocked and amazed about what just happened to financial giants AIG, Merrill Lynch, and Lehman Brothers. The downfall of these seemingly stalwart icons in the securities industry is a blow to the financial powerhouses on Wall Street that will trickle down to the American consumer. My friends, it is a tough economic sea we are maneuvering in.
What does this mean in the "big picture"?