Daily Real Estate News March 18, 2008
Tips for Buying at AuctionBen Anderson, a real estate auctioneer and member the National Auctioneers Association, predicts auctions may make up as much as 15 percent to 20 percent of all real estate sales given nationwide foreclosure rates. Traditionally, auctions represent just 8 percent to 10 percent of such sales.Here are his tips for buying at auction:
Conduct due diligence in advance of the auction. Inspect the property. Review any available documentation, such as previous inspections, appraisals, and seller disclosure statements.
Review the title search. The seller's representative usually requests this at the time of the listing.
Arrange for financing. Clarify with the lender the qualifications and the amount available for a loan.
Know the market. Check comparable properties and what they have sold for, and analyze nearby listings.
Review the terms and conditions of the auction. Before auction day get a copy of the purchase agreement and the auctioneer's terms and conditions. Read and understand them.Source:
Denver Post, Christian Toto (03/16/08
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Wednesday, March 19, 2008
IRA and Real Estate
Daily Real Estate News March 19, 2008
Seek Property Bargains for Your IRA
Real estate practitioners who are spying good deals these days and who are confident real estate isn’t far from a turnaround might consider investing their Individual Retirement Account funds in property.“A lot of people prefer real estate. That's where they've been successful and that's what they're comfortable with,” says Bill Humphrey, principal of Entrust New Direction, based in suburban Denver. The office is a member of The Entrust Group, a national firm that serves as an administrator in nontraditional IRA investing.Compared to buying stocks or mutual funds, investing a retirement account in real estate is complex and riddled with IRS regulations. Working with a knowledgeable self-directed IRA administrator is important.Places to turn for more information include:
How to Invest in Real Estate With Your IRA and 401(k) & Pay Little or No Taxes, by Hubert Bromma. McGraw Hill, 2007.
IRS Publication 590: Individual Retirement Arrangements
The Entrust Group's real estate website: Enturst GroupSource: Denver Post, Tom LaRocque (03/09/08)
www.RandBCoastalRealEstate.com
www.InvestSmarter.com
www.Panama-City-Beach-Florida-MLS.com
www.Panama-City-Beach-Florida-Condominiums.com
Seek Property Bargains for Your IRA
Real estate practitioners who are spying good deals these days and who are confident real estate isn’t far from a turnaround might consider investing their Individual Retirement Account funds in property.“A lot of people prefer real estate. That's where they've been successful and that's what they're comfortable with,” says Bill Humphrey, principal of Entrust New Direction, based in suburban Denver. The office is a member of The Entrust Group, a national firm that serves as an administrator in nontraditional IRA investing.Compared to buying stocks or mutual funds, investing a retirement account in real estate is complex and riddled with IRS regulations. Working with a knowledgeable self-directed IRA administrator is important.Places to turn for more information include:
How to Invest in Real Estate With Your IRA and 401(k) & Pay Little or No Taxes, by Hubert Bromma. McGraw Hill, 2007.
IRS Publication 590: Individual Retirement Arrangements
The Entrust Group's real estate website: Enturst GroupSource: Denver Post, Tom LaRocque (03/09/08)
www.RandBCoastalRealEstate.com
www.InvestSmarter.com
www.Panama-City-Beach-Florida-MLS.com
www.Panama-City-Beach-Florida-Condominiums.com
Monday, March 17, 2008
Fed Slashes Rates Again
Daily Real Estate News March 17, 2008
Fed Slashes Rates
In an effort to boost market liquidity, the Federal Reserve lowered the discount rate to 3.25 percent from 3.5 percent and launched a new lending program through which money will be moved from securities dealers to the securitization markets. The effort — the latest attempt to stabilize prices of bonds backed by residential loans as delinquencies continue to escalate and home prices tumble — will provide financing for JPMorgan Chase & Co.'s acquisition of Bear Stearns Cos. for approximately $270 million, or about $2 per share. Meanwhile, the central bank could reduce the interest rate affecting consumers and businesses to 2 percent at its March 18 meeting, marking a decline of a full percentage point. Source: Dallas Morning News (03/17/08)
www.Panama-City-Beach-Florida-MLS.com
www.InvestSmarter.com
www.RandBCoastalRealEstate.com
Fed Slashes Rates
In an effort to boost market liquidity, the Federal Reserve lowered the discount rate to 3.25 percent from 3.5 percent and launched a new lending program through which money will be moved from securities dealers to the securitization markets. The effort — the latest attempt to stabilize prices of bonds backed by residential loans as delinquencies continue to escalate and home prices tumble — will provide financing for JPMorgan Chase & Co.'s acquisition of Bear Stearns Cos. for approximately $270 million, or about $2 per share. Meanwhile, the central bank could reduce the interest rate affecting consumers and businesses to 2 percent at its March 18 meeting, marking a decline of a full percentage point. Source: Dallas Morning News (03/17/08)
www.Panama-City-Beach-Florida-MLS.com
www.InvestSmarter.com
www.RandBCoastalRealEstate.com
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