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March 05, 2009

Buy My Home

"Man wears 'buy my home' sandwich board in desperate attempt to sell his house." This headline caught my eye as I skimmed through a local paper. The story went on to explain how the homeowner had been trying to sell his house to stop foreclosure. He claimed the sandwich board seemed to work for people trying to find work, so he thought he would try it as a last ditch effort to save his home and credit.

Perhaps there will be a new market for "buy my home" sandwich boards. That wouldn't be a bad thing considering how many people are losing their jobs. But, do homeowners really have to engage in this type of drastic advertising? The answer is no!

Real Estate Investing article on "Buy My Home"

March 03, 2009

Selling House for Cash

Selling house for cash is a term used by real estate investors who purchase distressed properties with cash instead of traditional financing. Unfortunately, banks are suffering from credit constipation; making it increasingly difficult for buyers to qualify for mortgage loans. For many buyers, the only way they can purchase a home is if they have a wad of cash in hand.

Selling house for cash can expedite the transaction because the buyer does not have to obtain pre-qualification from the bank. There are no stacks of finance papers to sign and no unexpected setbacks. In many cases, buyers can take possession of the property in weeks instead of months.

Real Estate Investing article on "Selling House for Cash"

February 25, 2009

Buying Houses

Not so long ago people were buying houses at neck-breaking speed. Today, few people qualify for a mortgage loan. There is no doubt the housing market is in a serious slump. Lenders are carrying billions of dollars worth of non-performing loans and bank owned properties. Many homeowners are in serious financial distress; unable to make their house payments and waiting for impending foreclosure.

When I began buying houses, my primary goal was to locate distressed properties below market value. I engaged in house flipping and purchased rental properties. It was rewarding and profitable.

Real Estate Investing article on "Buying Houses"

February 21, 2009

We Buy Houses

Today, "We Buy Houses" signs dot the horizons of communities across the nation. The majority of these signs belong to private real estate investors or investment groups looking for cheap houses and distressed properties.

At Simon Volkov, we buy houses that are average or above average. Why? Because there are few resources available for homeowners with houses priced $300,000 above median or who carry mortgage notes higher than $500,000. There are a significant number of people who bought overpriced houses using subprime loans. Today, these people are facing foreclosure because their mortgage payment went up and their property value went down

Real Estate Investing article on "We Buy Houses"