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5 Tips for Buying a Foreclosed Home

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5 Tips for Buying a Foreclosure

Buying a foreclosed home is not like the typical home purchase. In many cases:

  • Only one real estate agent is involved.
  • The seller wants a preapproval letter from a lender before accepting an offer.
  • There is little, if any, room for negotiation.
  • The home is sold as-is, and it’s up to the buyer to pay for repairs.

On the upside, most bank-owned homes are vacant, which can speed up the process of moving in.

“Buying a foreclosure is definitely a bit of a grind. It’s not easy,” says Robert Jensen, broker and president of the Rob Jensen Co. in Las Vegas. “You’re getting fantastic pricing, but sometimes it takes going through a lot of houses and writing a lot of offers to get the home you want.”

Read Full Article [Source: www.bankrate.com]

An Outlook on Single-Family Rental Investments

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What’s In store for the Single Family Rental Market?

The outlook for the single-family rentals (SFR) sector remains positive, even though deal volume is expected to remain slow according to a recent SFR Comprehensive Surveillance Report by Kroll Bond Rating Agency (KBRA).

The agency recently completed a comprehensive surveillance review of its rated universe of 22 outstanding single-borrower SFR securitization and upgraded the ratings for five of the securities issued in connection with Colony Starwood Homes that merged with Invitation Homes in 2017.

The report, which gives a detailed overview of the sector as well as the SFR securitization rated by KBRA, indicated that while the SFR rental rates have steadily increased since its issuance of the first single borrower SFR securitization in 2013, vacancy rates of the 22 outstanding securitization under KBRA have averaged 4.4 percent, a decrease from 5.1 percent last year.

“The future demand for single-family rental housing will continue to be driven by the affordability of rents relative to homeownership costs as well as the availability of mortgage financing,” KBRA said in its report. Additionally, the low unemployment rate in the current economic cycle has had a favorable impact on the SFR market.

Read Full Article [Source: www.dsnews.com]

Top 5 Reasons Realtors Choose DAWGS to Secure Their Properties

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vacant property securityWhy Realtors Choose DAWGS

When real estate owners and agents know their properties are safe and secure, they can show and sell them faster and easier than ever before. Information collected from a recent survey revealed the top 5 reasons real estate professionals choose to secure their properties with DAWGS steel security solutions:

  1. No safety concerns – When a property is secured with DAWGS, realtors feel safe showing the property. DAWGS stops break-ins, so real estate professionals can rest assured that there are no squatters or criminal activity at the property.
  2. No lockboxes or key management – With DAWGS coded steel doors, there is no need to coordinate keys and lock boxes. Managed access to the property means properties can be turned quicker.
  3. Maintains property value. No break-ins, no theft – improved curb appeal, ensures the property will maintain its value and won’t compromise the value of other properties in the neighborhood.
  4. Streamlined approval process. Several institutional and large banking customers ask for DAWGS by name to secure vacant properties, especially in distressed neighborhoods.  Securing with DAWGS speeds up the approval process.
  5. Faster rehab projects. If a property needs to be rehabbed prior to sale, DAWGS steel security solutions ensure materials and tools can be left in the property without the threat of theft. On-time, on-budget projects lead to higher profits.

DAWGS flexible, fast-response installation teams can put up and take down DAWGS window and door guards whenever you need them.

DAWGS Boosts Profits for Out of Town Lender

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DAWGS Vacant Property Security

A California-based mortgage lender recently experienced break-ins, squatters and other security issues with their Chicago property portfolio. Rather than send a representative to Chicago to coordinate the eviction and security of the properties, they turned to Chicago-based, vacant property security experts DAWGS (Door and Window Guard Systems) to completely manage the process.

DAWGS Took Care of Everything

Once the lender reached out to DAWGS, the DAWGS team managed the entire project seamlessly. The customer was able to remain out of state while a DAWGS project manager coordinated with multiple vendors on the lender’s behalf to facilitate the eviction of default tenants and empty the property.

Once the property was empty, DAWGS installed their patented steel door and window guards. DAWGS patented door and window guards prevent break-ins, while the coded-doors allow for managed access to the property. Throughout the process, DAWGS kept the customer apprised of the progress at each property through constant communication, including photographic status updates.

Because several of the lender’s Chicago buildings were multi-family properties, DAWGS secured each individual unit as default tenants were evicted. The properties were then converted to fully-secured buildings ready to be safely and securely rehabbed.

Lender Increases Profits With DAWGS

DAWGS not only provided convenience and peace of mind by remotely managing property security for the lender’s Chicago property portfolio – DAWGS was able to decrease expenses and increase profit dramatically:

Remote management of the property enabled the lender to save time and money that would have been spent sending a representative to the property locations to manage the eviction and security process.

DAWGS impenetrable steel door and window guards stop break-ins. This eliminates the cost that can arise from stolen materials and contractor tools, as well as the cost that accompanies property repairs resulting from break-ins.

DAWGS coded door guards provide safe, reliable and managed access to the property. This means contractors can leave their tools and come and go as needed. Real estate agents and buyers are guaranteed access to the property – there is no need for cumbersome and unreliable lock boxes.

The result – the lender was able to rehab and sell/rent their Chicago properties in a fraction of the time by working with DAWGS.

If you have a need to secure a property, locally or remotely, DAWGS has you covered with their turnkey vacant property solutions. DAWGS patented steel door and window guards eliminate break-ins and are Freddie Mac and Fannie Mae approved. For more information or to get started, call (877) 883-2947 or Get a Quote today.

The Neighborhood Names With the Highest—and Lowest—Home Prices

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What’s in a name?

Well, when it comes to neighborhoods, it’s something that could actually signify how much homes within itare worth. And we found the data to prove it!

Perhaps not surprisingly, the highest average home values in America were found in neighborhoods with beachy-sounding monikers, according to a recent report from Porch. The online home improvement marketplace included only names mentioned at least 25 times in neighborhoods as defined by the U.S. Census.

And not all waterfront words are created equal. Average property values in neighborhoods with the word “island” in them are the highest, at $440,386. And yes, this too makes plenty of sense. Who wouldn’t want to escape the grind on some scenic isle?
Read Full Article [www.realtor.com]

Can Student Loans Lead to Foreclosures?

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For many parents, sending kids to college is a large added expense. But for some parents, taking on

this expense may even resultin foreclosure of their homes according to an analysis by Ameritech Financial, a document preparation company. Ameritech Financial said that parents should consider student loans carefully, and think about applying for income-driven repayment plans to remain financially sound.

Parents might be inclined to apply for additional loans to fund their child’s education according to Tom Knickerbocker, EVP of Ameritech Financial, “because they think their kids aren’t ready to deal with the financial consequences of missing payments on loans, or worse.”

One way of solving this dilemma would be to get student loan borrowers to apply for income-driven repayment plans that may reduce their monthly student loans, Ameritech Financial advised.

Read Full Article [Source: www.dsnews.com]

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