tom-beaty.com views on real estate

There are many beautiful neighborhoods that are home to many luxurious Temecula properties, and thanks to the expertise of home builders, those who are looking for a new home in the area find the opportunity to own the home of their dreams here. Home builders bring to life the elegance of fine living with the convenience of luxurious amenities for homebuyers, and from generously proportioned gathering/family rooms to professionally landscaped yards, Temecula properties exhibit some of the finest living in the state.

The essence of family living is captured in the grand homes of this area, and the area itself is known for its splendid beauty coupled with convenient family living opportunity. Beautiful parks and paseos, communities with fields and play areas for the children, and many opportunities for shopping, entertainment, and fine dining are nearby. Wineries and award winning golf clubs are found close by as well, as is the Promenade Mall to take the children shopping at and the Pechanga Resort & Casino for lively fun on nights without the kids.

There are many different floor plans that premier builders of Temecula properties have for homebuyers to choose from. Some offer plans with expansive family rooms, large kitchens, multi floor plans or single level floor plans for convenience, and flexible options for home building to personalize and individualize each home according to the buyers preferences and tastes. Some of the most in demand communities from premier home builders offer amenities such as private recreation centers with spas, swimming pools, exercise rooms, banquet rooms, and more.

Temecula properties also are in the area of an elementary school, a middle school, a high school, and a large sports park that spans 43 acres is also in the area, complete with lighted baseball and soccer fields, four lighted basketball courts, and more. The Temecula Valley Unified School District is an award winning school system that serves these premier communities, further contributing to the family friendly atmosphere of the communities within the area.

There are actually more than 40 public parks and recreation centers that surround Temecula properties, and finding the perfect home is facilitated by those home builders that strive to help buyers live their dreams in the homes of their dreams. With flexible floor plan options, a wide selection of indoor and outdoor personalization options, and an area that is renowned for its beauty and family friendly atmosphere, Temecula properties are some of the most in demand in the state.

To know more about Temecula properties please visit our website.

The current real estate market may not be good for sellers, but it’s a virtual paradise for people interested in investing. There are many great property deals on property such as vacation homes and retirement homes. With prices dipping, more people are finally able to afford their dream beach home.

There will also be a huge amount of retirees that will continue to rise within the next decade, so now is the time to start investing before you miss out on the deals to be had.

Vacation Homes:

The first benefit for investing in vacation home real estate is, of course, the opportunity to live in your dream location for a few months out of the year. Whether it be a nearby beach, the mountains, or even in another country across the ocean-your dream property is out there.

It’s also often much more convenient and comfortable than a hotel as you won’t have to shuttle your luggage back and forth whenever you want a quick weekend or even a longer break. Many vacation homes can also pay for themselves. While you’re unable to use it, you can rent it out for short periods of times, or even years to generate extra income. Often times you can easily pay off the mortgage primarily through rental profits.

And once the property is paid off, any more rental income received is your own to do as you please, whether it is further investments, beefing up your savings, or even a trip around the world. Your vacation home will be working for you.

Retirement Homes:

Why invest in retirement homes of all places? Baby boomers are ageing and ready to settle down in quiet communities. In just a few years, there will be a massive increase in the amount of retirees. Retirement homes and communities offer assisted living and high standards in order to cater to an ageing group.

More and more of this type of property will be in demand, so investing now can mean a greater payoff later down the line. Many people are also choosing to purchase retirement real estate rather than socking their savings away in a retirement fund.

Although this is not necessarily a guarantee of a greater monetary profit, snapping up dream property now can save you money and make you feel more secure than keeping your savings in fluctuating stocks.

Recently, many people were unfortunate to lose much of their retirement savings during stock market crashes and the recession, owning a home is a tangible asset that can be passed down through many future generations. More and younger people are realizing the value of owning property and investing in their future retirement.

Real estate prices will inevitably inflate once again. So before that happens, take advantage of the killer deals and once-in-a-lifetime opportunities available. Investing in real estate can not only be profitable, but it can bring you peace of mind as well.

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We have all heard the bad news about the economy. Turn on any news program and more often than not the leading story is a doomsday report of layoffs, budget cuts, and the recession. However, rarely do you hear about the flipside of an economic downturn, which is that the real estate market is a hotbed of great values for your money.

Unfortunately, one person’s hardship may be another’s opportunity as the market is suddenly flooded with vacation homes that people can no longer afford and that need to sell quickly.

Beautiful homes in places like Hawaii, Arizona and Florida are now sitting empty, often with both the home owners and the banks wanting to sell them as quickly as possible and for an affordable price. If you are one of the fortunate with the savings to buy a vacation or retiree home, you can find good values in the current economy.

Why buy real estate now? It’s a buyer’s market but it may not last for long. Economists have predicted that the real estate backslide has begun to slow and many homes are at their lowest price.

Home owners are desperate to sell as they are unable to maintain their mortgages and the market is now flooded with real estate options, leading to a simple matter of supply and demand that is resulting in below-cost values are a number of properties.

Because of this, it may also be easier to negotiate repairs, closing costs, and other selling points in your transaction. It is estimated that the real estate prices will soon begin to go back up as the economy slowly recovers, which is predicted to happen in 2010. Therefore, if you have been considering purchasing that vacation home or retirement home in the next few years, right now is the best time to find a good value for your money.

If you hesitate, you may lose out on a valuable financial window of opportunity. Once you decide to take the plunge and invest in a vacation or retiree house, there are a few steps to make the process go more smoothly. Take the time to shop around to various lenders in order to get the best loan rate and the amount you are pre-approved for.

You will want to take into account the property taxes in the area where you are browsing homes so that you have a realistic view of your monthly mortgage payments.

Once you take care of these simple steps, you are ready to being shopping for a house that is a great value for your money and you will be able to turn a bad economic situation into a golden opportunity!

In Asheville, real estate agency helps you find a home as per your desire. To find your dream house and to explore more options, visit http://www.preferredrealestatecenter.com

Owning a home is the dream of every one. But, if you think that you cannot fulfill your dream because of the economic recession, the federal government has come up with an $8000 tax credit plan that will rekindle your interest in real estate.

The plan will infuse energy into the real estate market. But for people like 40-year-old John Bateman and his spouse of six years, owners of a summer home and residents of Asheville, real estate buying through this plan requires some forethought and the knowledge about their eligibility.

Credit Only For First-Time Home Buyers:

Only first-time home buyers are qualified to avail this credit. A ‘first-time home buyer, in this context, is someone who hasn’t owned a principal residence for three years prior to buying the house. But, if somebody owns a vacation home or a rental property, but not a principal residence, he/she can be considered for the credit. Which means, for John from Asheville, real estate buying, especially a residential property, need no longer be a distant dream.

Spouse Should Not Own Principal Residence:

If you are married, the authorities also check whether your spouse had any real estate transactions that involved the purchase of any principal residence in the previous three years. If you haven’t owned a house in the past three years, but your spouse have had, either of you will not be considered as a first-time home buyer.

In case of joint property, as in the case of parents and children, and unmarried partners, any one of them, termed as the first-time buyer, can avail of the tax credit facility.

Date Of Purchase:

The home in consideration should have been purchased on January 1 or between January 1 and December 1. The date on which the closing occurs and the title to the real estate is handed over to the home owner is considered as the purchase date. The credit is equivalent to 10 percent of the purchase price of the home or a maximum of $8000. Those who have bought their homes in 2008 cannot benefit from the tax credit plan.

Income Limit:

You should also be aware of the income limit to which the tax credit has been subjected to. If you are single, your adjusted gross income should be $75000. The limit is $1,50,000 for married couples. If your earning is more than this, you will be given reduced credits only.

Keep The Home For Three Years:

Another condition stipulated by the authorities is that the first-time home buyers have to keep the home, their most important real estate possession bought under the $8000 tax credit plan, for a minimum of three years.

If you decide to sell your home before the stipulated three-year period ends, the credit has to be given back to the government. Exceptional situations resulting from death or divorce would be considered in this case.

When the opportunity to possess the home of your dream knocks on your door, you should first judge yourself whether you are eligible to be considered a first-time buyer. Look for specific pointers which you may overlook otherwise due to doubt, like in the case of John from Asheville. Real estate professionals can help you find that beautiful home in your favorite locality once you are in the clear.

In Asheville, real estate professionals can guide a first time home buyer to the best buys in the property market and possible loan facilities to make the dream of owning a beautiful home a reality. To know more, visithttp://www.preferredrealestatecenter.com

In order to buy a tax lien property you must first decide which states or counties are conducive to producing conditions that will allow you to end up in ownership. In addition you may want to consider purchasing tax deeds instead, as the process is set up in a way that gives you a better chance at property ownership.

Before you buy a tax lien property you have to purchase the tax lien certificate first. In order to get a certificate you will have to bid on the sale in many cases. This process can differ from state to state, and county to county. The bidding process starts at 18% in Orange county Florida and they in fact begin to bid down from there. In other words, whoever is ready for the lowest amount of interest will end up winning the certificate.

In general, assuming that you win the bid for the tax lien property certificate that you are interested is to foreclose on the assets that you have. This process varies from state to state but usually you will have to wait until the redemption period is over, in order to start the foreclosure procedure. The redemption period can differ anywhere from six months to a few years.

Here are the different types of liens:

1. IRS liens: IRS liens take precedence over any other lien on a piece of property. Once you find out the amount of the IRS lien, you may be able to speak with the IRS and negotiate how much they will accept to forgive the arrearage.

Tip: Make sure you get that in writing! Another little known fact is that after 10 years, unless the IRS renews the lien, the lien drops off their list.

2. Real estate liens: Those are the next on the priority list. Those must be satisfied. If you go to an auction and if enough money is paid for the property to pay off only the first mortgage, then everything beneath that on the priority list is wiped away. If you buy a second mortgage and then you have purchased everything above that on the priority list. You need to have completed your due diligence and know the lien priority.

3. Other liens: Other liens may include
Second Mortgage
Homeowners Association Fees
Mechanics Lien
Lawsuit
Judgment

All these other items go on the priority list by the date on which they were filed at the County Recorders Office.

Understand the order of liens on a property at http://www.weknowthewayback.com. Know more about tax lien property explained by the author who is an entrepreneur, author, real estate investor, teacher and speaker. Visit today and get benefited!!!

Foreclosure is the process by which a lien holder takes back ownership of property because the homeowner has failed to repay the money taken. A homeowner is typically foreclosed when they fail to pay 3 or more payments. The amount of time it actually takes for your lender to auction off your property varies greatly.

The basic causes of foreclosure are:

Number 1: Divorce” Make sure you know who is on the warranty deed and whose signatures will be needed if you do a pre foreclosure deal.

Number 2: Loss of job: If this is the case, you can help them by offering to help them repair their credit and to avoid having a foreclosure or bankruptcy on their credit records.

Number 3: Financial Slippage: This is the situation in which most smart and hard working individuals in foreclosure find themselves. We live in a capitalist system society. The system creates more chances but it is also less forgiving. Long term unemployment is overwhelming to the middle class. So is the astronomical cost of health care. People in this category frequently resort to tapping equity in order to meet their ends. If matters do not get resolved quickly, the house becomes over mortgaged; they default and end up in bankruptcy. Foreclosure comes next.

Number 4: Over Indulgent Lifestyles: It is often that people live at or beyond their means. For these people, as soon as there is an income disruption, extra expense or similar event, mortgage payments become impossible to pay.

Other Causes: Illness, no medical insurance, or death of the property owner or family member. You may be able to offer to help them with credit repair. Perhaps you can assist them in negotiating with their mortgage company, by showing all their medical bills and receipts. This is part of creating good will for your business. If you help them now, perhaps you will see them in the future, or they will give you referral business

Foreclosure Scenarios

Another consideration is handling the foreclosure property. You must consider if the product is over encumbered, that is, if they owe more than its worth, or if they have equity.

If they have equity and depending on the amount, you may consider a pre foreclosure deal offering them equity split. In that case, they would benefit by not having a foreclosure on their credit report.

Finally, evaluate your exit strategy. You will have a lot of options, depending on your needs or your business plan.

Understand the Causes Of Foreclosure at http://www.weknowthewayback.com and evaluate your exciting strategy NOW. So visit today and save your finances!!!

When you buy property at auction in a state that has redemption laws, you get a special deed or special title. Because the owner has a number of months in which they can repay the purchase price and redeem their property, its called a defeasible title. That is, one that can be defeated, which means that you dont have clear title yet.

Redemption Rights

If you buy the redemption rights from the owner at the time of the auction, you will own the title and the rights and therefore be able to get clear title. A redemption purchase should also be notarized. You should consult a local attorney, because each state differs in the way in which this should be handled.

When purchasing redemption rights, you may be dealing with an owner who is under a great deal of stress and may not be aware of the amount of equity they have in their property. Though they may be able to get more for their redemption rights, the rule of thumb is to offer the owner $1,500. They may ask for more, but you should weigh the amount of equity involved.

Purchasing Property

The process of purchasing property usually starts with a loan. If you borrow $100,000 from a lender, that is a note. When you buy a piece of property, to make the property the collateral for that note, you get a mortgage or deed of trust. In a judicial state, it will typically be a mortgage. If the owner defaults on the note, the lender must take the owner to court to sue for payment. The mortgage attached to the note is the security instrument. If the owner does not pay, the property can be foreclosed.

Relationship of Notes to Mortgages and Deeds of Trust

In a Deed of Trust state, there are three parties involved in the foreclosure process:

1. Trustor = Borrower
2. Beneficiary = Person lending the money (mortgagee)
3. Trustee = Party handling the transaction

So, in a Deed of Trust state, the Trustee would be the person to file the foreclosure on behalf of the Beneficiary. However, in a mortgage state, the mortgagee would hire a lawyer to start the foreclosure process. The Deed of Trust and a mortgage are two separate security instruments, but they perform the same function. They both secure the property as collateral.

There are two major strategies in the foreclosure business:

1. Short Sale
2. Equity Split

There may also be another option, a subject to transaction for more expensive properties.

Understand all about Redemption Rights at http://www.weknowthewayback.com by the author who is an entrepreneur, author, real estate investor, teacher and speaker. Drop in today and get working!!!

If you’re hoping to get your start in real estate investing, one of the first places you probably looked was mortgage foreclosures. You probably contacted (or tried to, anyway) owners of properties who were about to lose their homes due to non-payment of their mortgage. If you were lucky enough to get anyone to answer the door or phone, you tried to strike up a deal with them to buy the property and make some money on their equity.

Sound familiar?

This is a really popular technique, and some people have made good money using it, but it’s a very competitive field. If you’ve been running in circles trying to make money this way, I would highly recommend you give a similar, but much more successful concept a try - “deedgrabbing.” Instead of chasing people in mortgage forclosure, you’ll be contacting owners of tax-delinquent property. And even if you are successful in the mortgage foreclosure field, you’ll want to stay tuned for this- it’ll be a great tool to add to your real estate investing arsenal.

The big reason I like working with tax-delinquent pre-foreclosures better than mortgage preforeclosures is that mortgage foreclosure properties all have a mortgage against them! Duh! So to begin with, you’re already dealing with a large debt against the property- and probably unpaid taxes to boot! It’s not easy to figure out from your mortgage list how much you’ll actually need to pay off the mortgage, because there are also attorney’s fees, interest, and other debts that aren’t published. These charges accrue by the day. Don’t learn this one the hard way like I did- my first mortgage foreclosure purchase ended up taking DOUBLE the amount published to pay off!

Also, you might be following dozens of leads that are reported active, but have already reached a settlement agreement. If you do happen to find an owner interested in working with you, they almost always end up not wanting to sell the property and asking you to loan them money or figure out another way for them to stay in the house.

Finally, and most importantly, if you DO get a deal on a mortgage preforeclosure with a lot of equity, somebody (you!) is going to have to come up with all the money to make the payments to stop the foreclosure. Then, while you’re trying to deal with the whole mess, you’re going to have keep making those mortgage payments!

The thing I hated the most about mortgage pre-foreclosure investing? Everyone and their brother is also working them! These poor owners have gotten so many calls from other investors- not to mention all their other creditors- how was I supposed to get my calls answered when they’ve been conditioned by months of calls and out-and-out harassment to avoid answering the phone at all costs? Forget sending letters- they’ve learned to throw those out too.

As they say, “necessity is the mother of invention.” I wanted to work investing in real estate, so I had to find a better way- and boy, did I! I found a real estate investing method that eliminates ALL the problems with mortgage foreclosure investing– investing in tax-delinquent property… ready for this? Without bidding at the auctions with all the other bidders! I’ll get to that in a minute, but first- why tax delinquent property?

First of all, most tax-delinquent properties that make it all the way to the point where they’re scheduled to be auctioned off don’t have a mortgage- because rather than lose their interest in a property to the government, mortgage companies have paid off the taxes on properties with mortgages long ago. So most properties you’ll find are free and clear! If you’ve been investing in mortgage foreclosures, join me in yelling “WHOOPEE!”

Secondly, you will find a much higher percentage of properties at this point have been abandoned- and these are the easiest to quickly buy and re-sell. Owners are DYING to get rid of these!

Another benefit? Very few owners will be trying to get you to be their lender or landlord. Whew!

With tax-delinquent properties, there are firm dates at which “all is said and done.” When the date of the auction or the deadline to pay off the taxes comes, the owner loses their house- period. Do you think they’ll want to lose their equity to the government, or make a deal with you before then?

Last, but best of all…

Almost no one is doing this. And since you save them from losing everything at the last minute… owners are overjoyed to hear from you!

Want to learn the secrets of deedgrabbing? Go to deedgrabber.info.
Olliver Kennedy is a successful entrepreneur and real estate expert.

It seems like every time you get up for a good ‘ole 3 a.m. snack these days and flip on the tv, you’re bombarded with a new real estate “guru” trying to convince you that the next big cash cow is buy properties at tax deed auction- that is, properties the government has seized for non-payment of taxes. John Beck was recently “outed” for having deceived his audience with the pictures of the beautiful properties supposedly purchased at tax deed auction for $1000- or less. As they say, if it looks too good to be true, it probably is. Here is why tax deed auctions SEEM like the place to get a great deal- but actually are a huge waste of time.

First off, what you see isn’t always what you get. Each state is different, but in many states, you don’t get to inspect any of these properties until AFTER you’ve bought them. There’s no way to know the proper condition, and thus no way to really know how much you should invest in them. Furthermore, oftentimes you don’t get immediate possession of the property once you’ve got the deed- and in some states, you have to buy a lien against the property, wait for the time for the owner to pay off the lien to run out, and THEN apply for a deed. In this waiting period, any number of things can happen to the property. Even if you were reasonably sure when you bid that it was a nice property you were trying to buy, by the time you get it, it may be in considerably worse condition than when you first bid on it. Not to mention, if you’ve been around for the last several years, you’ve seen what can happen to property values in the midst of an economic downturn. Yikes!

Even if that weren’t the case, your odds of actually getting a property or a lien at one of these auctions is very small. With all the publicity tax sale investing has gotten in recent years, sales/auctions are filled to the brim with other bidders like yourself. By the time the bidding is over, most decent properties have been bid up close to retail value. You’ll be bidding against big companies that spend all their time researching these properties, and who can afford to make less money on their investment, just because they have so much of it. Unless you’ve got tons of cash, chances are you can’t compete.

I know this will surprise you in light of the above statements, but… I still think tax sale property holds the best opportunities to get great bargain properties you can make a lot of money on. JUST NOT AT TAX SALE. It’s a system called “deedgrabbing”, involving little-known loopholes to get properties before the auctions, without bidding, without almost ANY competition (it’s a pretty well-kept secret), and yes, for VERY little money.

Want to learn the secrets of deedgrabbing? Go to deedgrabber.info.
Olliver Kennedy is a successful entrepreneur and real estate expert.

If you do a Google search for “tax sale properties”, you’ll find yourself staring down a confusing list of returns– some from websites trying to sell you information about when and where tax lien sales and tax deed sales are, some from low-tech government sits with pictures of stinky swampland, trying to sell you undesirable tax sale properties, and maybe even some other articles explaining to you the many hoops– both financial AND legal– that you’re going to have to jump through if you want to have any prayer of making a sound investment. It’s not easy to find any good, solid information to help you make the decision about whether investing in tax sale properties is for you. If you do your homework, you’re likely to find at least as many sources telling you that investing in tax sale properties is a losing proposition, as ones that will tell you it’s a great idea- and the ones telling you it’s great are usually trying to sell you lists.

I hate to do this to you, but if your way of investing in tax sale properties is going to be bidding on liens or deeds at the county auction, I’m with all the naysayers. There are so many pitfalls and risks to this method that in the end, it’s almost never worth it. After all, we invest in real estate to try to make a better life for ourselves- to build toward a secure future, to make more money than might be possible working a 9-5, and to have more personal freedom and time to spend with our families. Right? When you realize the work that often times goes into investing in tax sale properties in this way, at the end of the day, it may be preferable just to work toward the gold watch and the corner office and “work for the weekend.”

Bidding on tax deeds would be great if there wasn’t so much competition. There are lots of properties that end up at the sale that are okay and have some equity. Unfortunately, you’re never going to get a good enough deal to make any money on them, because the guy next to you isn’t about to let that happen. He will bid against you until the property is close to retail value– then you’ve got your nest egg invested in a questionable property (since you usually can’t inspect it first) where if one thing goes wrong, you’ll lose all the money you stood to make and perhaps then some.

Same general thing with the tax lien sale. If you’ve got tons of money, like to gamble, and don’t mind waiting a long time for payoff, you can make some decent money off of the interested generated from buying liens on nice properties. Owners pay off tax liens most of the time. However, you risk running into that rare occasion when you end up owning the property you bought a lien on… which again, would be great if you’d gotten it for a steal, but that competition at the auction is going to bid it up to almost retail value. So you may end up owning a property you never wanted, not getting the interest, gaining too small of an amount of equity to make the headache worth it, and… what if there’s another economic downturn? You could end up upside-down. It’s really not worth it.

It sucks, right? We know that tax sale properties are often free and clear (mortgaged properties would have had their taxes paid off prior to sale by the mortgage companies)… which means tons of equity… gosh, I wish there were a way to get those properties without all the competition, before the sale.

Well, of course there is, you just have to be a little more creative than the next guy. It’s called “deed grabbing,” and it’s a method of obtaining the tax sale properties right from the owners, rather than waiting until they’ve lost everything and you’re wasting away at the tax sale watching great properties get bid through the roof. It’s easy, all it involves is striking while the iron is hot, and finding the right owners who are ready to walk away and hand you their tax sale properties for next to nothing. And best of all, it’s a well-kept secret, so there is minimal competition. And it WORKS.

Want to learn the secrets of deedgrabbing? Go to deedgrabber.info.
Olliver Kennedy is a successful entrepreneur and real estate expert.