Search US Foreclosures

In effort to remove some of the thousands of foreclosures and REO homes for sale, the Federal Government is giving $970 million to states to buy up foreclosed homes. This will help reduce inventory, and improve nasty neighborhoods. Here are the details from the Inman news:

Federal housing officials today announced nearly $1 billion in funding to help state and local governments acquire, redevelop or demolish foreclosed properties. Every state in the nation got at least $5 million in the third round of funding through the Department of Housing and Urban Development’s Neighborhood Stabilization Program NSP. Nearly half of the $970 million in grants announced today — $446 million — went to the four “sand states” hit hardest by foreclosures: Arizona $45.4 million, California $149.3 million, Florida $208.4 million and Nevada $43.3 million. Another $171 million in NSP funding was concentrated in four Rust Belt states: Illinois $30.1 million, Indiana $31.5 million, Michigan $57.5 million, and Ohio $51.8 million.NSP funds can be used to acquire land and property, demolish or rehabilitate abandoned properties, and provide downpayment and closing cost assistance to low- to moderate-income homebuyers.

via Feds award $1B to buy up REOs | Inman News.

homes Landlords as clients can be fertile ground for real estate and foreclosure cleanup businesses. In this tumultuous rental market, landlords are an easy target for move-in and move-out work. According to the National Multi Housing Council, a national association representing the interest of apartment firms, the index measuring vacancies and rent levels rose the fourth quarter of last year. But vacancy rates in apartments recently hit eight percent, the highest in 30 years. So what gives?

Any Rental Activity is Good Activity for Cleanup Businesses

The long and short of it is no matter the “state of rentals,” ANY rental activity means income for real estate and foreclosure cleanup businesses. How? When new tenants move into a home or an apartment, the place has to be cleaned and prepared; and when old tenants move out, the place has be cleaned and repaired. Read on to see how to target and service landlords and their rental properties effectively with your real estate and foreclosure cleanup business.

juegos carreras Services to Offer to Landlords

Your real estate cleanup services for landlords should, at minimum, include move-in and move-out cleaning, debris removal, and yard maintenance. You can also include lock changes, carpet cleaning and changing, painting and minor repairs if you are set up to handle those services.

Remember, your foreclosure cleanup business should already be structured to handle “real estate cleanup,” too; not just foreclosure cleanup. Why? Because when the foreclosure crisis quiets down (and it will be some years), you still want to be able to capitalize off contacts you’ve made during the foreclosure crisis.

Your real estate cleanup division can offer the same services as your foreclosure cleanup division. You will simply market them slightly differently. Remember, as long as real estate is in existence, you will have an evergreen business in handling lawn care, repairs, painting, trash-outs, cleaning, etc., no matter if you’re servicing an apartment building, a foreclosure client, a buyer’s new home, etc.

real estate investing How to Locate Landlords in Your Area

Find landlords in your area by scouring local websites and forums that cater to them near your business geographic location. You can also find landlords by researching real estate investment groups in your city. Use search engines like Bing and Google to begin your search. Start with keywords like the following, using Atlanta, GA, as an example:

–Atlanta, GA landlords
–Atlanta, GA real estate investors
–Atlanta, GA landlord groups
–Atlanta, GA real estate investment meetings
–Atlanta, GA real estate investment groups

Forums and Chat Boards

Visit landlord forums and real estate investing chat boards and start reading questions and answers. After digging a little on these interactive web boards, find your way to the local geographic area for your city and state on the websites. Network and participate on these forums so you can effectively capture contact information from potential clients for your foreclosure and real estate cleanup business.

Since the sellers of these foreclosed homes for sale want to obtain as much of the investment as possible, these homes will be offered at significantly reduced prices. Although these foreclosed homes for sale may be offered with significant discounts, sometimes up to 30% or more, one should inspect the property before any decision should be made.

#6 Plan Your Bid Strategy

Determine your bid limit after examination of the property and all available information. Don’t be afraid to bid early. Most other bidders will be willing to pay just as much as you. The one who bids the number first, wins that day.

So you’ve seen the property, you know how much you’re pre-qualified for, and you know who you’re dealing with and how their system works. Now it is time to determine how you’re going to bid. Some people like to jump out in front and try and scare off the other bidders by showing them how much you want this particular property and some people like to casually come over the top of anyone else that bids. The important part is that you know how you’re going to bid and you know how much you’re going to bid to and that you’re comfortable with that if you don’t win the property you want.

#7 Register To Bid

Most online auction companies require some sort of registration process before you’re allowed to bid. Some require identity verification by some method. Find out what this is. Call and make sure you’re comfortable with the amount of information you’re providing and what the auction company will be using this information for. Remember: Due to the anonymous nature of the internet they are just as wary of you as you are of them. Seek advice and ask questions from other people or brokers who have participated in an online auction and get information about this Auction company.

Upon completion of registration you will generally receive a bid number, terms of the sale, and other important auction day information (again check the auction company for exact details).

Not much to say here other than get signed up ahead of time. No one wants to miss out of a real estate opportunity because they tried to register too late. If you rush this you’ll feel rushed for the whole process and you’re putting yourself at a disadvantage from the start. Just take the time and get registered early on so it is one less thing you have to worry about.

#8 Check for Required Deposits

If you are the successful high bidder at an online auction, you will be normally be required to affirm your bid with a digital signature or email reply and some sort of deposit. Check with the auction company for exact details on what type of money deposits are allowed and accepted (Generally a certified or bank check are required) and how to get that money to the company since it was an online auction.

This one is all about being able to perform after you’ve won a property. This step will set the tone of the entire closing process. The auction company wants you to purchase the property but they don’t know your financial situation. The auction company is trying to determine if you’re going to follow through with your bid. You have to make sure that you follow directions after the auction to show them that you’re a serious buyer. If it seems like you’re not going to meet the post-auction requirements they will sell the property to someone else. Don’t lose your opportunity to buy your dream house because you didn’t follow the post-auction instructions. You can be published without charge. You can to republish this article in your website or blog. Please provide links Active.