Condo Owners Get Creative

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

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Foreclosure “Woes” Continue to Unfold!

Posted by: Carleton Sheets in Rescue, Recovery, Recession, Real Estate, Positive Thinking, Foreclosure, Economy, Economic, Confidence on Jun 09, 2009.

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

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Will New Housing Initiatives Work?

Posted by: Carleton Sheets in Tax Credits, Short Sale, Recovery, Real Estate Market, Real Estate Investor, HUD, Housing Market, Foreclosure, Deed in lieu of foreclosure, Barack Obama on May 14, 2009.

As an investor, I'm excited about the new initiatives and incentives from Washington that I've been reading about the past week or so ...

  1. First, and most recently, the Obama administration will be announcing new measures to expand its housing program. These measures are expected to encourage lenders to accept a short sale (if offered) or a deed in lieu of foreclosure when presented, rather

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