May 16th, 2008 . by Mike Kelly
A listener asked me if the rumors of “Multiple Offers” was nothing but Realtor Hype?
If Realtors could “hype” up business through manipulation of our MLS pricing structure, you’d think we’d all done this before the 30-50% pay-cut we’ve all taken over the past 3-4 years plus the lost equity of our clients! In the REO market, for my County of Sonoma $200-$500,000, we are getting multiple offers. It is a SELLER’S market for many an assett manager.
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December 17th, 2007 . by Mike Kelly
Wish to buy but don’t have the resources to take advantage of this great “Buyer’s” market in Sonoma County? Give the “Equity Share” arrangement a try. This is a simple principle wherein you “partner” with an investor who purchases a property and you both agree to the terms of the deal, occupancy, payment structure, and return on investment for the investor and then project out a number of years for the equity share. This involves allowing the home to appreciate or gain equity. You then sell the property in the future and split the equity gain above a certain baseline. Read the rest of this entry »
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December 2nd, 2007 . by Mike Kelly
The conforming loan limit is $417,000. 100% financing is fully available at this limit and below! Are there homes available in this price point?? You bet there is!! As of today, in all areas of Sonoma County we have 821 Homes available at $417,000 and below!! Yes! You heard me right! Now add the Wachovia Mortgage Down Payment Assistance Program (DPA) of $25,000 (this is FREE MONEY!!) and you go to $442,000 and the amount of properties in Sonoma County jumps to 1,017!! Read the rest of this entry »
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