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House Price Crash Forum

john beck real estate

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About john beck real estate

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  1. Most part- people buy things they can't afford.They got balloon mortgages- which increase ever year. They got mortgages so huge that they are house poor and if one person loses their job- they are screwed. Handful of older people who ran out of money or didn't take of the property or bills. Lot of renter homes that are in bad shape- people are losing. I guess they just let it get so run down that when people couldn't live in it anymore they just stop paying the bills. We are looking at foreclosed homes and a lot of them are renter properties.I notice there are ton of NEW big homes for rent right now because people realizes they can't afford their own mortgage but they want to hold on to the home. Most of them want insane amounts like 2,500-3,000 a month which is prob the mortgage!!
  2. I would leave little cards in open houses (as in the houses potential buyers go to look at when buying houses) and pay google to put your website high up when people type in 'Estate agents'
  3. they'll fall as far as they need to ............ percentage don't mean much but the banks are starting to bottom out inventory pricing and get rid of extra housing supply which will help level off bottom prices faster. I'd say the market will find it's bottom over the next 3-6 months then will stay stable for a while before starting to climb (this is a 10 yr cycle) and we're at the bottom
  4. Landlording is one of the most litigated professions in America. The first thing you need to do is to title the home in the name of a Limited Liability Company or revocable trust. Thus if there is a claim it can only be against the one asset. Most amatuer landlords title the rental home in their name and a lawsuit could tie up all your assets. Step two is to get a landlord's policy and make sure that if the house is vacant for more than 30 days that you have a vacant house rider because most insurance companies void coverage if the house is vacant for more than 30 days. To better handle your liability get an umbrella policy for the Limited Liability Company that can cover your potential liability
  5. Have a real estate agent prepare a comparative market analysis. They have the data available to give you accurate info.
  6. In a housing environment where property values don't go up, and you plan to never move, then renting may make sense. However, if you rent you're at the mercy of your landlord in terms of rising rent, improving the place where you live, and ultimately getting kicked out when he decides to sell the place or not renew your lease.
  7. banks, especially "interest"."interest": an added amount of "money" that they "claim" is what they are entitled to, this money is then misspent on not sharing back to those that gave the physical tasks that paid the "interest". The money is also misspent on war (many times by big energy in order take over oil rich areas and or to increase the price of oil).a lot of the "interest" money is imaginary, a bank "issues" money, even though the bank does not have any "collateral" to back up that money.also the need for the ultra-rich to extract from the masses (rather then sharing) adds fuel to inflation.
  8. if they are out of business, there is nothing you can do, unless the builder had a construction bond, a kind of insurance that will pay someone else to finish your work. Check with the licensing agency in your state if he had one
  9. I don't think Govt want to ban or punish them.
  10. It is very unlikely that the prices will drop. Once the home prices go up, they tend to stay up the same or go higher. They rarely ever go down.
  11. Go outside and take it down. Return it or hold onto it and wait for a knock at the door.
  12. Normally it is the other way around. If the stock market goes down investors go back to invest in Real Estate.
  13. The market fall is due to the increase in foreclosures in the US due to unscrupulous loan officers, and lenders unrealistic loan programs. You have borrowers that were put into loan programs that would eventually cause them hardships. Lenders also offered what's called "stated" programs for investors and the self employed that are now imploding due to the market fall. Like a domino effect this downturn has slowed buyers to purchase and lowered values of homes preventing sellers from putting their homes on the market. I figure once the government bails out some of the unfortunate homeowners we should see a rise in the market.
  14. Invest and wait.Interests rates rising will help with your saving.
  15. As long as your total debt to credit limit ratio stays below 30% your scores shouldnt drop. If you have used more than 30% of your total available credit then you should consider a home equity line. By taking out a new line of credit and paying off the other debt, you have reduced your overall debt to credit limit ratio. In addition the Home equity line may be tax deductible, so there may be an added benefit.
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