Investors Rental Home Soars in Value

Investors Rental Home Soars in Value:

"The octagonal home is in Dillon Beach, Calif., and was built in 1976. It's on a bluff with ocean views. The residence has three bedrooms, three bathrooms and a fireplace. The house includes a 400-square-foot garage for two small cars. Dillon Beach overlooks Tomales Bay and is popular with seasonal and full-time renters. The community is about 30 miles from Petaluma, Calif.... Investor Rental Homes

Purchase price: $450,000. Ms. Janssen bought the property with her son, Evan Blacksea, now 25, in 2000. She placed a 20% down payment and financed the purchase with a 30-year fixed-rate mortgage....." Invesors Rental Homes

Kentucky Insurance

Investors Rental Home Soars in Value

Investors Rental Home Soars in Value:

"The octagonal home is in Dillon Beach, Calif., and was built in 1976. It's on a bluff with ocean views. The residence has three bedrooms, three bathrooms and a fireplace. The house includes a 400-square-foot garage for two small cars. Dillon Beach overlooks Tomales Bay and is popular with seasonal and full-time renters. The community is about 30 miles from Petaluma, Calif.... Investor Rental Homes

Purchase price: $450,000. Ms. Janssen bought the property with her son, Evan Blacksea, now 25, in 2000. She placed a 20% down payment and financed the purchase with a 30-year fixed-rate mortgage....." Invesors Rental Homes

Kentucky Insurance

Rates on 30 year Mortgages Drop Sharply

Mortgage Rates Drop Sharply:

"Rates on 30-year mortgages fell to the lowest level in six weeks as financial markets grew more hopeful that the Federal Reserve will boost the sluggish economy by cutting interest rates further. Kentucky Insurance

Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages fell to 6.33 percent this week, down from 6.40 percent last week. It was the lowest level since 30-year mortgages dipped to 6.31 percent on Sept. 13, which had been the lowest point since last May..." Mortgage Rates Drop

Rates on 30 year Mortgages Drop Sharply

Mortgage Rates Drop Sharply:

"Rates on 30-year mortgages fell to the lowest level in six weeks as financial markets grew more hopeful that the Federal Reserve will boost the sluggish economy by cutting interest rates further. Kentucky Insurance

Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages fell to 6.33 percent this week, down from 6.40 percent last week. It was the lowest level since 30-year mortgages dipped to 6.31 percent on Sept. 13, which had been the lowest point since last May..." Mortgage Rates Drop

Foreclosures Increase , Investors

Foreclosures Increase, Foreclosure Process

"Smitha has been involved in real estate for 30 years as a licensed broker and agent, and has been a builder for the past 12. He said he has been an investor all along, but his pace has picked up during the past couple years as the market has declined.

"It presents some risks but on the other side of the coin in presents opportunities: The best time to buy is when everyone else thinks you shouldn't," he said. "The best time to sell is when everyone else thinks you should buy."

Smitha is among the more than half of auction buyers who are investors, not owner occupants. He awaits closing on it, then plans to fix it up and sell or lease it sometime next spring. Still, he said he expects to spend more than $40,000 to repair and renovate it.

That's an even greater risk in a down market — but he sees much the same upside that Tadeus and Lorraine Cyman saw 30 years ago, including a nice neighborhood, solid school district and ample living space.

"There are literally hundreds of these houses on the market in the Detroit area," he said. "It's sad but obviously I didn't create the problem. Someone has to buy these and fix them up. Rental Property Insurance

"Really, what people like me do, is return a house to the market in a livable condition that prior to that most people didn't want to walk through." Foreclosure Investors

Foreclosures Increase , Investors

Foreclosures Increase, Foreclosure Process

"Smitha has been involved in real estate for 30 years as a licensed broker and agent, and has been a builder for the past 12. He said he has been an investor all along, but his pace has picked up during the past couple years as the market has declined.

"It presents some risks but on the other side of the coin in presents opportunities: The best time to buy is when everyone else thinks you shouldn't," he said. "The best time to sell is when everyone else thinks you should buy."

Smitha is among the more than half of auction buyers who are investors, not owner occupants. He awaits closing on it, then plans to fix it up and sell or lease it sometime next spring. Still, he said he expects to spend more than $40,000 to repair and renovate it.

That's an even greater risk in a down market — but he sees much the same upside that Tadeus and Lorraine Cyman saw 30 years ago, including a nice neighborhood, solid school district and ample living space.

"There are literally hundreds of these houses on the market in the Detroit area," he said. "It's sad but obviously I didn't create the problem. Someone has to buy these and fix them up. Rental Property Insurance

"Really, what people like me do, is return a house to the market in a livable condition that prior to that most people didn't want to walk through." Foreclosure Investors

Homes in Cities With Large FSBO Sellers

Homes in Cities with Large FSBO Sellers:
"Charlotte, N.C., Orlando, Fla., and Cincinnati, respectively, top the list of the fast-growing market for independent home sellers—those who are choosing to sell their homes without a real-estate broker, reports ForSaleByOwner.com. Here are three FSBO homes...." FSBO Sellers

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