Finding an area with appreciation potential
Some real estate experts believe that home buyers who purchase a house during the current market will gain equity if they stay in the house for at least five years and purchase in a desirable neighborhood.
MAKING SENSE OF THE STORY FOR CONSUMERS
• Neighborhoods with strong employment bases, such as hospitals, universities, and government, tend to be recession-proof. People desire to live near their jobs, so housing that is in close proximity to these types of industries are generally in higher demand than those in other areas.
• High gas prices and roadway congestion have led many people to seek “walkable” communities – neighborhoods that offer both daily needs such as grocery stores and coffee shops to more specialty items like hair salons, all within walking distance. Walkable communities also provide public transportation, which is becoming more desirable to many home buyers and is increasing demand for housing in these areas. One Web site, walkscore.com, calculates the walkability of a community by locating stores, restaurants, schools, parks, and other attractions that are within walking distance. The scores are based on a 100-point scale with 100 points being a “walker’s paradise.”
• Home buyers who seek a new or nearly-new home should search in areas where the homebuilder is known for honoring warranties and building high-quality homes that are structurally sound. Homes in these areas are more likely to weather well and gain value in the future than homes in areas where the homebuilder is unknown.
• Homes in neighborhoods with sales momentum generally appreciate at a faster pace than areas where sales are flat. Some real estate industry consultants advise clients to pay close attention to the “list to sale” numbers, which reflect the difference between the asking price and the final closing price. Usually, if the gap in list-to-sale numbers is narrow, then the real estate market in that area is improving.
To read the full story, please click here:
http://www.chicagotribune.com/classified/realestate/advice/chi-select-neighborhood_chomes_1oct31,0,5272949.story
Bulk REO – Foreclosures for cents on a dollar
We have a multitude of sources available to locate the best value specific to your order. All buyers must be approved by our company to determine their capability to close acquisitions.
For more details or to set up a meeting please call Yana Pacheco at 951-454-0877 or Igor Korosec at 310-499-1305
REO Portfolio Buyers
Brokers Capital Network and Best Hollywood Homes Team have access to bulk REO portfolios from $5 million and up nationwide. We offer representation during the period indicated in our mutual agreement. We can also help customizing exit strategies and offer real estate services for properties located in CA as well as assist in choosing vendors/ agents in other states.
Note Buyers
Our sources have years of experience in the acquisition of real estate based assets at highly discounted values. We will provide you with Business Models for JV acquisition of NPN First and Second TD/ Mortgages that offer establishing of a Separate LLC, Completing the Due Diligence (Market Value of the property, Title condition, Unpaid Principle Balance value, Property inspection), Converting Notes and TDs. We connect you to our highly reputable sources directly. Minimum amount of investment is $250,000.
Brokers and Intermediaries:
Brokers Capital Network and Best Hollywood Homes Team welcome investors as well as brokers who have clients interested in purchasing Bulk REO Portfolios. Minimum purchase price is $5 million. All buyers must be approved by our processing department and all documents must be completed and signed. Investors or brokers or intermediaries must complete our forms and agreements that we will provide to you after our initial consultation:
1. NCND (i.e. Non-Circumvent-Non-Disclosure).
2. MFA (i.e. Master Fee Agreement).
3. Buyer Profile.
Submit together with LOI and POF to BestHollywoodHomes@gmail.com
BULK REO ORDERING
Process overview:
1. Buyer submits the Letter of Interest, Proof of Funds (on bank letterhead with banker’s name and phone number) and Buyer Profile form.
2. Once the documentation is approved, we’ll submit your order with the compiler that has the inventory that meets your needs.
3. Buyer signs our Non-Circumvent-Non-Disclosure and Fee Agreement.
4. The tape is released within about 2 – 7 business days.
5. Buyer has 48 – 72 hours to review the tape without placing a deposit.
6. If tape is accepted the buyer will be asked to make a refundable deposit on the REO acquisition (depending on the institution, 5 – 20%) and due diligence period starts (about 7 – 10 days).
7. If buyer discovers that tape does not meet specified criteria, buyer can send a cancellation notice prior to expiration of due diligence period. The deposit will be refunded.
8. The deposit becomes non-refundable after due diligence period is up and buyer must proceed to close the escrow.
9. All purchases must be cash or line of credit. Hard money financing is available with min 40% down; acceptance of the financing option depends on the seller.
Please note that this process is for general information. Protocol may vary depending on the Seller. We work in a capacity of Investor Consultant / Intermediary / Buyer Representative. We work with Direct Seller sources and intermediaries. Orders start from $5M, nationwide.
BULK REO SAMPLE OF LETTER OF INTEND
Purchase Amount: $ _____________ Dollars (Discounted Value/Purchase Price).
Requested LTV (Loan to Value) range: For example 60% of total value
Maximum amount not to exceed: _____% as a percent of the fair market value.
Location preference: Include the largest geographic area as possible. This will allow the seller to better fill your order and get you the best price.
States___________________________________________________ or
Major cities Preferred: __________________________________________________________________ or
Zip Code range: _________________________________. You want these two zip codes and everything in between.
Property Preference, for example Single Family Residence: ___________________________
Range of Property Value: $__________________________ (i.e. $200K-$500K)
Level of repair requested: (0-Light rehab,…)_________________________________
