Carleton Sheets - *Best-Selling Author
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Tag >> Real Estate
It looks like more homeowners are falling behind on paying their property taxes in these tough economic times, and many are suffering the consequences---foreclosure. The homeowners whose property taxes are escrowed by the mortgage servicer and included each month with their monthly mortgage payment don't have to worry about paying their taxes---as long as they are able to make their mortgage
Posted by: Carleton Sheets in Tenant, right to rent, Renter, Real Estate Market, Real Estate, Market Value, landlord, Foreclosure, fair market value, borrower on
Aug 14, 2009.
In an effort to deal with the growing number of foreclosures on the market, yet another program has been proposed. The Right to Rent Plan would actually allow distressed homeowners to stay in their homes after the foreclosure sale ... by paying a fair-market monthly rent to the "landlord" (the lender who foreclosed on the former homeowner). (Don't get this program confused with an earlier one
Posted by: Carleton Sheets in rent, Recovery, Real Estate Market, Real Estate, Market Value, Housing Market, fair market value, Economy, Distressed, Creativity, condo, Comps, association on
Aug 11, 2009.
One of my staff members recently sent me an article about a group of condo owners in Chicago who are taking a stand on the eight or so neighboring condo units that are in various stages of foreclosure. Members of the condo association are knocking on doors in an attempt to pass a referendum that would allow the association to purchase the "distressed" units and then rent them out until the
Posted by: Carleton Sheets in Seller finance, Seller, Real Estate Market, Real Estate Investor, Real Estate, Property, Note, mortgage originator, Limit, HR 1728, How to Buy and Sell Real Estate, Housing Market, Gift, Assistance on
Aug 07, 2009.
As I've mentioned before, seller financing---a great win-win situation for both sellers and buyers---is making a comeback in the current real estate market. However, I've recently read about legislation that will restrict seller financing and possibly hurt consumers, investors, and small businesses. The bill in question is HR 1728, and its aim is to curb the predatory lending practices of the
Someone recently asked me my opinion on the so-called "shadow inventory" of foreclosures ... the bank-owned (REOs) foreclosures that aren't on the market yet. If you've read this Wall Street Journal article, you might come to the conclusion that it's a conspiracy by banks to "under-inflate" their inventory of REOs. Have banks been holding onto the properties because they don't want to
As I mentioned in one of my previous blogs, there are many new, revised, updated, and extended government programs aimed at alleviating the foreclosure crisis ... so many that I am a little confused at times. Will the latest program replace one that didn't work as planned? Or why does the government think one program will work better than the rest? I recently read an interesting piece of news
Posted by: Carleton Sheets in Rich Dad Poor Dad, Real Estate, No Money Down, mentor, goal, coach on
Jul 09, 2009.
Ever since I can remember, I've always noticed how people around me interact with others. For example, when I was a young professional in the workplace, I often watched how my co-workers would deal with different situations to reach successful conclusions. I studied their tone of voice, facial expressions, and actions and tried to emulate them when I was faced with a somewhat similar situation.
Posted by: Carleton Sheets in unemployment, Refinance, Real Estate, Obama, mortgage, loan to value, Loan, Interest Rate, Freddie Mac, Foreclosure, Fannie Mae, fair market value, Economy, Credit, borrower, Barack Obama on
Jul 02, 2009.
A recent article published by CNNMoney.com reports that the Obama administration has revised its initial mortgage refinancing program to help more borrowers---including those whose homes are valued below their loan amount---qualify for refinancing. The revisions also include stipulations that enable eligible borrowers who are either in default or at risk of defaulting on their loan to lower their
An article I just read in USA TODAY reported that the foreclosure rate will probably continue to move upward for a while. The culprit? And, no, it's not subprime mortgages this time ... it's the unemployment rate that's beginning to include borrowers who have good credit---and higher-end homes. News like this undermines the cautious optimism some saw in the housing market recovery and
Posted by: Carleton Sheets in Value, Tenant, Residential, Refinance, Real Estate Market, Real Estate Investor, Real Estate, Market Value, commercial real estate, Commercial Lending, Commercial on
May 26, 2009.
I'm sure you've been reading more and more about how the commercial real estate market is following in the footsteps of the residential real estate market. And perhaps you've been wondering how these markets are different. Well, let me explain. First of all, both markets suffer as bad mortgages, the credit crunch, and plummeting values affect homeowners and residential and commercial
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