Archive for April, 2009

Investment Property Benefits

Tuesday, April 28th, 2009
Clint Jhonson asked:


Investing in property is a business. If you want to invest in property, you should acquaint yourself with a broad selection of potential opportunities. By diligently researching the many different avenues available to you, it is possible for you to expand your investment property portfolio and consider yourself a ‘property investor’. Today you can invest in anything that will return a profit and build wealth. It is not easy to be an investor, because you have to face many risks and whimsical markets. However, if you do things wisely, your expectations could be realized.

It is all known that long-term property investment is one of the best and safest ways to get high returns on an investment. Many millionaires have built their investing in the property market and the number of people who have gained benefits from investment property is continuously growing. The tendency for long-term investment expansion has been in continuous growth for at least 40 years. This is very appealing for those who want to invest their money. In spite of the lasting gains from property deals, the real estate market could not avoid the pessimistic attacks from media. This is connected with the fact that like any investment market, the real estate market has its good and bad times. The perturbations in investment markets are natural and those who are active in these spheres are used to these changes.

Being such an attractive investment, because it offers high returns after some time, investment property attracts a great deal of money. It is also an attractive investment because you can control other people’s funds, typically in the form of a credit, in order to make your returns higher. So in this way, you do not have to invest entirely your own capital, but you will enjoy the revenue on the entire cost of the real estate you own – both your own part of investment and the loan money. You make not only your money, but also other people’s money to work as hard as possible for your own interest. On average, the investment property prices have risen by about 100% or even more each decade in the last one hundred years. The agiotage on the real estate market is a good proof that their value will remain in constant growth in this century as well.

A mistake made by most of new property investors is having their first property investment either near their own residential house, or located in the so-called ‘hot-spot’ which is advertised on the television or in the media. At the same time as many of these investments may still bring a more or less modest income, there might be the problem connected with its location. It is well known that some areas will always have an over-sold reputation. Another reason for this is that media will always advertise that area and that real estate it is paid for, so in this way your area can even be not as highly rated as it was before. This is not a mistake only made by new investors. The experienced investors can as well hurry regarding the investments and invest in less profitable areas. That is why besides experience a good network of connections are necessary. The real estate market cannot be “conquered” if you are one-person team.


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Florida Foreclosure Fraud Protection Law Enacted – Foreclosures / Mortgage Loan Modification

Sunday, April 26th, 2009
Frederick A Neustein asked:

Frederick A Neustein , an attorney with the Law Offices of Charles L Neustein PA www.StopForelcosureLawyer.com respectfully submits the following:

Florida Foreclosure Fraud Protection Act enacted.

The Attorney General explained that this new law will not apply to the attorney / client relationship or the way lawyers are paid when they are hired to help distressed homeowners. This bill provides much needed protection to consumers and homeowners have been tapped by the Mortgage Loan Modification companies – many of them are scams …

from October 1, 2008



501.1377 Violations involving homeowners during the course of residential foreclosure process.

(1) LEGISLATIVE FINDINGS AND INTENT.-The Legislature finds that homeowners who are defaulting on their mortgages in foreclosure, or at risk of losing their homes due to nonpayment of taxes can be vulnerable to fraud, deception, and unfair treatment excluding rescue consultants or equity purchasers. The intent of this section is to provide a homeowner with information necessary to make an informed decision regarding the sale or transfer of their home equity to a buyer. It is the ulterior intention of this section to require that closing agreements with the rescue services to express in writing in order to safeguard homeowners against deceit and financial difficulties, to guarantee, promote and encourage fair treatment in the sale and buying a home in foreclosure or default, to prohibit representations that tend to mislead, to prohibit or restrict unfair contract terms, provide a cooling off period for homeowners who enter into contracts for services related to savings foreclosure on their homes or preserve their rights to possession of their homes to pay the owners of a reasonable and meaningful opportunity to cancel sales to buyers of equity, and preserve and protect home equity for homeowners of this state.

(2) DEFINITIONS.-As used in this section, the term: equity buyer

(a) "means any person who acquires legal ownership interest, equitable or beneficial to the residential real estate as a result of foreclosure rescue operation. The term does not apply to a person who acquires the legal interest, equitable, or beneficial in such property:

1. A certificate of title of a foreclosure sale conducted under chapter 45;

2. In a sale of property authorized by statute;

3. By order or ruling of any court;

4. Of a spouse, parent, grandparent, child, grandchild or sibling of the person or spouse of the person, or

5. As a deed in lieu of exclusion, a training agreement, a bankruptcy plan, or any other agreement between a foreclosing lender and a homeowner.

(B) "Foreclosure-rescue consultant" means a person who directly or indirectly, makes an application, representation, or offer to a homeowner to provide or perform in exchange for payment of money or other valuable consideration, foreclosure-related rescue services. The term does not apply to:

1. A person excluded under s. 501.212.

2. A person acting under the express authorization or written approval from the Department of Housing and Urban Development or other department or agency of the United States or this state to provide rescue services foreclosure-related.

3. A charitable, not-for-the nonprofit agency or organization, as determined by the U.S. Internal Revenue Service under section 501 (c) (3) of the Internal Revenue Code, which provides guidance and advice to an owner of residential property in foreclosure or loan default if the agency or organization does not contract foreclosure-related rescue services with a profit for the lender or person to facilitate or carry out rescue operations foreclosure.

4. A person who owns or is owed an obligation secured by mortgage on residential real estate in foreclosure if the person making the foreclosure-related rescue services in connection with this obligation or lien and the obligation or lien was not the result or the return part of a proposed exclusion or foreclosure rescue operation.

5. A financial institution as defined in s. 655.005 and any parent or subsidiary of the financial institution or the parent or subsidiary.

6. A mortgage broker, mortgage lender or correspondent mortgage lender that provides mortgage counseling or advice on residential property in execution, that counseling or advice is within the scope of services set out in Chapter 494 and is provided without payment of money or other consideration other than a mortgage brokerage fee as defined in s. 494.001.

(C) "Foreclosure-related rescue services" means any goods or services associated with or promising assistance in connection with:
< , br /> 1. Stop, prevent or delay foreclosure proceedings on residential real estate or

2. Curing or otherwise face a default or lack of timely payment in respect of a residential mortgage loan obligation.

(D) "Foreclosure rescue" operation:

1. By which residential real estate in foreclosure is transferred to a purchaser of capital and the owner maintains a legal or equitable interest in residential real estate conveyed, including, without limitation, interest rental option, an option to acquire the property, an interest as beneficiary or trustee of a trust, or other interest in the property conveyed; and

2. That is designed or intended by the parties to stop, prevent or delay foreclosure proceedings against real property owner of a residential house.

(E) "Owner" means any record title owner of residential property which is the subject of a foreclosure proceeding.

residential property (f) "real" means real property consisting of a family of four family housing units, one of which is occupied by the owner as his principal place residence.

(g) "residential real property in foreclosure" means residential real estate against which there is a pending notification of processing the foreclosure proceedings registered pursuant to s. 48.23.

(3) prohibited Acts "In the course of the tender or the provision of rescue services of foreclosure-related rescue consultant foreclosure shall not: < br />
(a) Participate or initiate foreclosure rescue services related to implementation without a written agreement with the owner to the foreclosure-related rescue services, or

(b) demand, charge, receive or attempt to collect or secure payment, directly or indirectly, for foreclosure-related rescue services before completing or performing all services included in the agreement for foreclosure-related rescue services.

(4) FORECLOSURE-RELATED RESCUE; WRITTEN AGREEMENT

.- (a) The written agreement for foreclosure-related rescue services must be printed in at least 12 point uppercase type and signed by both parties. The agreement must include the name and address of the person providing the services of foreclosure rescue-related, the exact nature and specifics of each service to be provided, the total amount and conditions of the tariffs paid by the owner services, and the date of the agreement. The date of the agreement may not be earlier than the date the owner signed the agreement. Foreclosure-rescue consultant must give the landlord a copy of the agreement to review not less than 1 business day before the homeowner is to sign the agreement.

(B) The owner has the right to cancel the agreement in writing without any penalty or obligation if the homeowner cancels the agreement within 3 business days after signing the agreement writing. The right to cancel can not be waived by the owner or limited in any manner by the foreclosure rescue consultant. If the owner cancels the agreement, payments that have been given to the exclusion-rescue consultant must be returned to the homeowner within 10 business days after receipt of notification of cancellation.

(C) An agreement for foreclosure-related rescue services must contain, immediately above the signature line, a statement in at least 12 -type capital letter substantially complies with the following:

CANCELLATION RIGHT OWNER
br YOU MAY CANCEL THIS AGREEMENT FOR FORECLOSURE-RELATED RESCUE SERVICES WITHOUT ANY PENALTY OR OBLIGATION WITHIN 3 DAYS after the date of this Agreement is signed by you.

-RESCUE consultant exclusion is prohibited by law from accepting any money, property or other form of payment from you until all promised services are complete.

If for some reason you have paid the cancellation before the CONSULTANT, payment should be returned no later than 10 DAYS AFTER THE COMPANY RECEIVES NOTICE OF CANCELLATION OF YOUR ADVISOR.

to cancel this agreement, signed and dated copy of a statement that it has canceled the Agreement should be mailed (postmarked) or delivered to (name) at (address) before midnight on (date).

IMPORTANT: We recommend that you contact your lender or MORTGAGE BEFORE SIGNING THIS AGREEMENT.

your loan or mortgage provider may be willing to negotiate a payment plan or a restructuring with you for free.

(d) The inclusion of the statement does not prohibit the foreclosure-rescue consultant to give homeowners more time to cancel the agreement contained in the statement provided that all other requirements of this subsection are met.

(e) The foreclosure-rescue consultant must give the landlord a copy of the signed agreement within 3 hours after the owner signs the agreement.

(5) Foreclosure-rescue operations;

WRITTEN AGREEMENT .- (a) 1. A foreclosure rescue operation must include a written agreement prepared by at least 12-point uppercase type that has been completed, signed and dated by the owner and buyer of capital before executing any instrument of ownership to the buyer's equity quitclaiming, assign, transfer, transport or encumber an interest in residential property in foreclosure. The equity purchaser must give the landlord a copy of the agreement concluded within 3 hours after the owner signs the agreement. The agreement must contain the entire agreement of the parties and must include: a.

The name, business address, and telephone number of equity buyer.

B. The address and complete legal description of the property.

C. Clear and conspicuous disclosure of financial and legal obligations of the homeowners will be assumed by the buyer of equity.

D. The total consideration payable by the buyer in connection with equity or incident to the acquisition of property by the purchaser of equity.

E. The terms of payment or other consideration, including but not limited to, any services that the equity purchaser represents will be held for the owner, before or after the sale.

F. The date and time when possession of the property is transferred to the buyer's equity.

2. A foreclosure-rescue transaction agreement must contain, above the signature line, a statement in at least 12-point uppercase type that substantially complies with the following:

I UNDERSTAND THAT UNDER THIS AGREEMENT I am selling my HOME TO THE OTHER PARTY signatory.

3. A foreclosure-rescue transaction agreement must state the specifications of any option or right to repurchase the residential real estate in foreclosure, including specific amounts of escrow payments or deposit, payment, purchase price, costs closing, commissions or other fees or costs.

4. A foreclosure-rescue transaction agreement must comply with all applicable provisions of 15 USC ss. 1600 and ff. and related regulations.

(b) The owner may terminate the settlement agreement foreclosure rescue without penalty if the owner notifies the equity purchaser of cancellation no later than 5 pm on 3rd business day after signing the agreement in writing. Any money paid by a buyer in measures that the owner or the owner to the buyer's equity must be repaid to the cancellation. The right to cancel does not limit or affect the right of owners to cancel the transaction under any other law. The right to cancel can not be waived by the owner or limited in any way by the buyer of equity. The buyer must give the homeowner equity, upon the written agreement signed, a notice of owner's right to cancel the foreclosure rescue "as provided in this subsection. The notification, which must be shown in a separate filing to the written agreement that contains no written or graphic material must be at least 12-point uppercase type, double spaced, and written as follows: < , br />
notice to the seller / owner

PLEASE READ THIS FORM completely and carefully. IT CONTAINS VALUABLE INFORMATION ON THE RIGHTS OF CANCELLATION.

BY THIS AGREEMENT, YOU AGREE TO SELL YOUR HOME. You may cancel this transaction at any time before 5:00 pm the business day following the receipt of this notice. THIS

cancellation right can not be waived in any way by you or the buyer.

Money in any paid directly to you BY THE PURCHASER must be returned to the cancellation the buyer. MONEY PAID BY YOU FOR THE BUYER MUST BE returned to CANCELLATION.

To cancel, sign this form and return to the 5:00 PM BY BUYER On (date) at (address). BETTER MAIL

by registered mail or overnight delivery for receipt, and keep a photocopy of the signed form and YOUR POST OFFICE RECEIPT.

I (we) hereby cancel this transaction. Signature
desired


Name Seller Signature

desired
< , br /> Name Seller

Date

(c) In any rescue operation foreclosure where the owner house is always the right to repurchase the residential real estate, the owner has a right to 30 days to cure any breach of the terms of the contract with the purchaser of capital, and its right to cure may be exercised up to three times different. The landlord's right to cure must be included in any written agreement required by this subsection.

(D) In any rescue operation of foreclosure, before or at the time of transport, the buyer must assume the entire equity or download the entire suit in foreclosure and as any prior liens not extinguished by foreclosure.

(e) If the owner has the right to repurchase the residential real estate, the equity purchaser must verify and be able to prove that the landlord has or will have a reasonable ability to make the necessary payments to exercise the option to repurchase under the written agreement. For purposes of this section, there is a rebuttable presumption that the homeowner has a reasonable ability to make payments required to repurchase the property if the monthly payments to the homeowner's primary housing expenses and regular monthly principal and interest payments on personal debt that do not exceed 60 percent of gross income per month homeowner.

(f) If the owner has the right to repurchase the residential real estate, the price that the owner does not pay may be immoral, unfair, or commercially reasonable. A rebuttable presumption, solely between the buyer and the owner of capital, it suggests that the exclusion rescue operation was inconceivable without the repurchase price of home ownership is higher than 17 percent per year over the total amount paid by the equity purchaser to acquire, improve, maintain, and maintain the property. Unless the repurchase agreement or a memorandum of the repurchase agreement is recorded in accordance with s. 695.01, the presumption arising under this subsection shall not apply to creditors or subsequent purchasers for consideration and without notice.

(6) .- Any exclusion rebuttable presumption rescue operation involving a lease option or other repurchase agreement creates a rebuttable presumption, solely between the buyer and the owner capital, the transaction is a loan transaction and transmission of the homeowners equity for the buyer is a mortgage under s. 697.01. Unless the lease option or other repurchase agreement, or memorandum of the lease option or other repurchase agreement is recorded in accordance with s. 695.01, the presumption created under this subparagraph shall not apply to creditors or subsequent purchasers for consideration and without notice.

(7) VIOLATION. – A person who violates any provision of this section commits an unfair and deceptive trade practice as defined in Part II of this chapter. Violators are subject to penalties and remedies provided in Part II of this chapter, including a financial penalty not exceeding $ 15,000 per violation.



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Top Homes for Sale in Houston Retain Value

Wednesday, April 22nd, 2009
Tim Dillard asked:


Property investors might have been missing out on something going on in Houston the last few years. While most of the country has been languishing in a housing crisis prices in and around this city have remained relatively stable. Most of the top homes for sale in Houston have retained most of their market value, and having property here has definitely made a few investors feel safer over the past few months.

Does this mean that it is too late to buy in this area? Definitely not, because while property prices here might be a little on the high side you are also buying the security of knowing that your investment will retain its value even throughout the most trying market conditions. The current crisis brought on by changes to the sub-prime lending legislation changes has resulted in a slight decrease in home sales in the area in the mid-range bracket, but this has left many of the top homes for sale in Houston untouched.

The city itself is second on CNN’s list of best new places to live in Texas, and is on the top ten of it’s “best new places to live in USA” list as well. This is largely due to the state of the property market, and the fact that you can buy large, high quality homes here for reasonable prices. These ratings reflect positively on the property market, and are a good indication of future stability and growth.

The reason that the low-range houses (those between $80,000 and $140,000) have been so badly affected in terms of sales is because these are the homes most commonly purchased with money from sub-prime mortgages. Since these mortgages are more difficult to come by since the legislative changes took place, many potential buyers are unable to find funding to purchase homes.

This is not exactly a pity, because it is creating buyer demand for the top homes for sale in Houston, as well as for some of the smaller homes that are being developed as part of larger planned developments. This is in turn creating healthy seller competition, and agents are doing their best to get everybody the best deals possible whether they are entering the market or leaving it. There is no such thing as a win-lose sale here at the moment, as home sales are working out equally fairly for buyers and for sellers.

Buyers are getting the upper hand slightly in that certain sellers are becoming more eager to sell as they fear the coming housing crisis. However, local property analysts claim that there is very little to fear, and you will do equally well by selling your home at the moment, or hanging on to it for a year or two. If you are looking to buy this lull in home sales presents a perfect opportunity to buy one of the top homes for sale for a little less than you would have paid a few months ago.

If you have children, you will definitely want to consider relocating here during this period, because from here you get access to some of the best schools in Texas, as well as getting the best deals on property. The suburbs here are especially safe for children, and many of the schools in the area have been given incredibly positive ratings by independent school evaluators and parents alike. Whether you are looking in the lower price brackets or the upper limit of luxury homes you can usually find some good buys in desirable neighborhoods.

An investment forecast for most of the top homes looks promising, with homes returning anywhere from 9-21% depending on location, age and several other factors. Investing in Houston real estate is almost always a good idea, but recent developments have created some interesting opportunities for savvy investors. Anyone looking to buy property in the greater metropolitan area would do well to keep their eye on the listing, as well as taking a drive around the area to see if there are any bargains that nobody has caught on to yet.


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Luxury Homes and Luxury Real Estate

Wednesday, April 22nd, 2009
Phoenix Delray asked:


The luxury real estate is a very small place? Or the housing market adjusts to meet the needs of the group econ? Monkey partner m? S top consumer. This type of real estate is much different than the normal market because it requires a very high level of care and responsibility on the part of brokers who handle transactions. Agents must advertise on a national level since est? N trying to appeal and market to a group of very spec? Traffic, very often, these types of transactions may even involve additional things such as lawyers, trusts and editions of anonymity for high-level clients. Tambi? No, these customers will consider buying luxury homes often require numerous inspections of the character? Sticas because they want to be sure that everything is? perfectly in order since est? No passing such large amount of money on it. These types of things require the real estate agent handling the case for all? twenty-four hours of day to find people for any type of appointment that the client may have scheduled. There are many different character? Sticas that define a luxury home or luxury real estate and generally change a pa? Sa other. Although several pa? Countries have different character? Definici Collection of Data: No there is one that is relevant no matter d? You nde est? looking, LOCATION? n. The LOCATION? N play? To a very large role in the definition will? N the value of a character piece? Stica. This can include things like: the visi? No, if a common feature of l? Coastlines or not, if you are? about various types of amenities such as golf courses, school districts or the downtown. This is qu? makes it possible for a piece much m? s peque? or character? stica to sit? and in the water to be worth so m: s that a space m? s great to be m? s interior. The amount of land that surrounds the character? Stica is also? N a common feature of definici? No because it allows the person buying the character? Stica to possibly expand its size? Or in the future. There are also? No large differences between luxury homes COMPARISON? N something that is referred to as character? Stica luxury. Using the character word? Stica usually denotes that there are m? S land surrounding the home, at least a few acres. In the United States of Am? Rich, any piece of real estate that est? N over a mill? Na? Lares usually considered to be part of the group's luxury real estate. As? Therefore, if you think you may be interested in purchasing one of the many luxury homes on the market then you should expect to pay a pretty penny? l.

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Real Estate for Sale in Puerto Vallarta Attracts Property Investors

Monday, April 6th, 2009
Site Booster asked:


With a colorful blend of the old and the new, Puerto Vallarta offers an unparalleled mixture of simple pleasures and sophisticated charms. PV has some of the most upscale shopping centers, luxurious restaurants and happening nightclubs coexist peacefully alongside its traditional open air markets, street-side vendors selling Mexican handcrafts, the strolling mariachi bands and the taco stands.

The cinematic beauty of this place makes it an unhurried refuge for tourists especially people in their post-retirement period. The serene climate and easy life of this tropical island has attracted many of the senior citizen tourists to invest in PV real estate.

The PV real estate market is largely driven by vacationer stays and expatriate purchases. In the last few years, a sharp increase has been observed in the price of Puerto Vallarta real estate for sale properties.

Laws for foreigners regarding house for sale in Puerto Vallarta

Owning properties in PV such as a condo or house has become a lot safer and simpler than ever before, thanks to the favorable well-defined rules regarding non-Mexicans’ land ownership in this region. For instance, if you are an American, you can take advantage of possibilities like PV condos for sale and easily own a property.

If you are from other regions, as per Mexican law, you can’t own property directly. You have to rely on Irrevocable Real Estate Trust Agreement, better known as “fideicomiso”. In this case, usually a Mexican bank acts as a trustee for the prospective buyer. The bank only holds title to the property but the beneficiary (i.e. the buyer) is entitled to use it and even sell the property. The buyer can also develop and use the property to his liking and benefit, within the provisions of the law. He should just inform the bank of his proposed plan.

Real estate agents and brokers are not legally licensed in Mexico. So, it’s a good idea to take professional assistance of a lawyer while opting for condo for sale in PV. All real estate legal transactions in Mexico are done in Spanish. Hence it’s imperative that an attorney should be involved to draw up contracts and to review the contract’s terms and conditions regarding the house for sale in question.

How retirees can benefit from investing in Puerto Vallarta real estate for sale

Most pensionists envision spending their golden years amid beautiful beaches, year-round good climate, calm and serene surrounding. Definitely, they dream of a paradise, but often paradise comes with price. Fortunately, the price ranges of available houses for sale in PV is cost-effective.

Surprisingly the affordable values of condominiums for sale have prompted many pensionists to invest in Puerto Vallarta real estate.

There are many factors contributing to the appeal of real estate investment in PV. The most important factor is the cost. As per one statistics, the average cost of assisted care for the senior citizens in the U.S. is over $3,000 per month, while the same facilities in PV cost about $1,100 per month.

Some other important factors that attracts the tourists of post-retirement age to buy real estate in Puerto Vallarta are:

* Top-notch healthcare,

* Year-round favorable climate,

* Modern amenities such as superior accessibility via direct flights from major cities around the world,

* Many recreational activities,

* Big brand stores, and

* VOIP and high-speed Internet facility.

The Property taxes are lower in PV as compared to the US. Also the interest you pay for on your home loan is tax deductible. The pensioners can even enjoy tax benefits if they plan to rent out their property in PV.

They can claim itemized deductions for depreciation, property taxes, operating expenses, maintenance expenses, and some insurance expenses. But for that the property has to be of rental business requirement standards.

With so many benefits of investing in Puerto Vallarta real estate for sale, it’s no surprising why PV turns out to be the home of most number of pensioners in the world.


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The Benefits of Realestate Investment

Saturday, April 4th, 2009

cheryl jack asked:


Have you been thinking about investing in real estate but weren’t sure whether or not it was worth the time, effort, and money to do so? The truth is that there are quite a few benefits to be gained from realestate investment. Here are a few of the biggest benefits of all. 1. Owning property raises your credibility, your credit rating, and your equity portfolio by a substantial margin. People are more inclined to trust and want to do business with property owners and, if you make your property payments on time every month, your credit score will shoot through the roof. 2. Unlike other types of property, realestate investments usually only appreciate as time passes on. Look at the housing market. The cost of housing today is more than four times what it was as little as two decades ago. A lot of real estate moguls got their start by a realestate investment technique called “house flipping.” 3. There is more leverage allowed with realestate investment than with other types of investments. Real estate property owners are allowed to borrow against the value of their properties while other types of property owners are not. Think about it: how many banks allow you to put up your stereo system as collateral for a loan? 4. Two words: tax benefits. Realestate investment experts will tell you that the tax advantages involved in owning real estate property far outweigh any initial cost in purchasing the property. Home owners are given a wide array of tax incentives and credits every year! These are just four of the most important benefits of realestate investment. Many people are afraid of investing in real estate because the initial cost (and risk) is so large. The experts will tell you, though, that the many benefits far outweigh the expenses!



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