The question: Is it legal to do a short sale on a house not in foreclosure and then lease it back to the owner? My answer: Sure it’s legal, I don’t see why not. The real question is why would a lender do a short sale on a home not in foreclosure? They won’t is […]
Is it safe to consider real estate investing again?
The question: Has the housing market dropped enough to consider real estate investing again? My answer: Well, we have seen about a 12 percent drop in home values in the last year (currently 4/08) and everyone is “calling” the bottom of the slide should you believe the industry pundits. I don’t. We still have a […]
What legal statute is applicable on illegal side-agreements?
The question: Our realtor had us, as sellers sign a side agreement, in which we were to give the buyers $2,000 cash at closing for repairs to be done after the closing on the property. This side agreement stated it was not part of the contract to sell, it was not given to title company […]
Will real estate values continue to drop through 2008?
The question: Will real estate values continue to drop through 2008? My answer: Yes…is the short answer. Real estate values ran up at such a fast pace from 2003-2005 due to the Fed lowering of mortgage rates and over-zealous home speculation. Home values have corrected about 10% since then, but many believe another 20%-30% correction […]
