If you have ever found yourself struggling to pay the mortgage or know someone who has, the question of “What would actually happen if I just stopped paying my mortgage?” probably has come across your mind. While walking away from a mortgage should be avoided at all costs, there are a growing number of homeowners […]
If you are like most people, you probably don’t have much experience with fleas. Even if you have had minor troubles with them in your home, caused by a dog or cat, you most likely took steps to remove them quickly before they became a problem. But when a property owner simply gives up on any semblance […]
I’d love to stick my head in the sand on this, but the reality is that the negatives of this move can’t be ignored. Rather than pulling off the band-aid quickly, delaying foreclosures is just prolonging the pain. Looking more and more like the last three years are going to be the new “normal” for […]
Although most of the original Cupples Station warehouses in Downtown St. Louis have either been rehabbed or demolished by now, there are still two rather prominent buildings that remain untouched on the 900 block of Spruce Street. If you have ever been and Busch Stadium and noticed the hulking board-ups to the west of the ballpark, you know which […]
Following the blueprint set by Fannie Mae in late 2009, the United States Department of Housing and Urban Development (HUD) appears to be further stacking the deck against real estate investors. While in the process of restructuring the way they sell their foreclosed property inventory, HUD has taken the opportunity to shift the bidding advantage […]
After a roughly two-month hiatus, Bank of America is restarting foreclosure proceedings on 16,000 homes across the United States. Wells Fargo also appears to be revving things up on the foreclosure front again as well. Foreclosure inventories have taken a noticeable dive in recent months so hopefully this move will provide some quality real estate products as […]
It looks like the controversy over improper foreclosure processing is spreading. After initially halting foreclosures in 23 states, Bank of America has announced it was halting foreclosure in all 50 states as of today. Under pressure from federal officials, Bank of America, JP Morgan, PNC Financial, and GMAC Mortgage have all at least cut back […]
Rumors have been circulating lately that real estate developer Eighteen Investments, and their real estate brokerage arm Bellington Realty, have hit hard times. They had been short selling a few buildings, including one I have reported on at 3155 Gustine, but nobody really seemed to know how deep the problem went. Until the St. Louis […]
When it comes time to purchase a home, most homebuyers fail to consider the path of purchasing a multi-family. Whether this is due to the belief that they can’t afford it, that they can’t compete with seasoned investors, or something else altogether, most people don’t give the matter much thought. By doing so, they are […]
With foreclosures still near record highs for the St. Louis area, there is still a lot of doubt in our housing market. Sure residential properties are selling better than they were, but all these REOs will continue to hold values down. That might sound horrible, but this is good for the area in many ways.
Buying foreclosure properties can be a frustrating, cutthroat enterprise. The best properties usually have investors circling like vultures. You’re never going to be able to win all your bids, but there are things you can do to increase your chances of being the winning bidder. And get the best price in the process. The following […]
I always get a kick out of the fact that everybody and their brother is talking about short sales these days. I don’t doubt that you can find some great deals out there via the short-sale route, but these deals generally turn out to be a waste of time. Consider these issues: Most sellers and/or […]
As great as being on NPR was, I was a little bit let down that the story aired only in St. Louis, and not nationally as I was told. It seems that I have nothing to worry about anymore. The story ended up airing on the national program “Marketplace” last week. Here’s the story.
I was hoping to have a little more notice, but my interview with St. Louis NPR affiliate KWMU on foreclosures is airing today.
When buying a foreclosure, like all other properties, you need to set a closing date on the contract. When setting this timetable you need to consider what kind of affect the proposed dates will have on your offer. As with any point in a contract, if you put the closing out too far you could hurt […]