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Tuesday, January 27, 2009
Thursday, January 15, 2009
Alexander Methods ahead of the Investment Crowd
An advanced technique I just released a 4 weeks ago to my private Coaching Group utilized a method that addresses exactly what has now become "Policy" with Fannie Mae as detailed in this article.
The technique was called Lease/Option Flips. My coaching class learned this method weeks before this new policy was adopted, which I predicted in that class would happen shortly. Those that started using the method are now weeks ahead of anyone else and no other groups teach this method as it was created just weeks ago when I saw the beginnings of this new niche.
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Washington Business Journal - by Bryant Ruiz Switzky Staff Reporter
Mortgage giant Fannie Mae announced a new national real estate owned (REO) rental policy that will allow qualified renters in Fannie Mae-owned foreclosed properties to stay in their homes.
The company has an eviction suspension in place through the end of January, and the new policy will be implemented before the suspension expires, the company said.
“Renters in foreclosed properties have often been a casualty of the foreclosure crisis the country is facing,” said Michael Williams, chief operating officer of District-based Fannie Mae (NYSE: FNM) in a statement. “This policy will allow qualified renters to remain in Fannie Mae-owned properties should they choose to do so, mitigate the disruption of personal lives that foreclosures can cause, and help bring a measure of stability to communities impacted by high foreclosure rates.”
The new policy applies to renters occupying foreclosed properties at the time Fannie Mae acquires the property. Renters occupying any type of single-family property will be eligible including residents of two- to four-unit properties, condos, co-ops, single-family detached homes and manufactured housing. Eligible renters will be offered a new month-to-month lease with Fannie Mae or financial assistance for their transition to new housing should they choose to vacate the property. The properties must meet state laws and local code requirements for a rental property.
While the company markets the properties for sale, Fannie Mae will manage the properties through a real estate broker or a property management company. The company will not require security deposits to be posted in connection with this program.
Renters in the foreclosed properties will be asked to pay market rate rent under the new leases. Rates may be determined by reviewing local comparable rents, conducting a neighborhood survey, or through other relevant indicators. Rates will also be subject to any legal rent control restrictions. The company will review each instance where the market rate may require a tenant to pay additional rent and will work to reach an equitable resolution, the company said.
On behalf of the company, property managers are contacting renters in Fannie Mae-owned foreclosed properties to notify them of their options.
The technique was called Lease/Option Flips. My coaching class learned this method weeks before this new policy was adopted, which I predicted in that class would happen shortly. Those that started using the method are now weeks ahead of anyone else and no other groups teach this method as it was created just weeks ago when I saw the beginnings of this new niche.
_________________________________________________________________________________
Washington Business Journal - by Bryant Ruiz Switzky Staff Reporter
Mortgage giant Fannie Mae announced a new national real estate owned (REO) rental policy that will allow qualified renters in Fannie Mae-owned foreclosed properties to stay in their homes.
The company has an eviction suspension in place through the end of January, and the new policy will be implemented before the suspension expires, the company said.
“Renters in foreclosed properties have often been a casualty of the foreclosure crisis the country is facing,” said Michael Williams, chief operating officer of District-based Fannie Mae (NYSE: FNM) in a statement. “This policy will allow qualified renters to remain in Fannie Mae-owned properties should they choose to do so, mitigate the disruption of personal lives that foreclosures can cause, and help bring a measure of stability to communities impacted by high foreclosure rates.”
The new policy applies to renters occupying foreclosed properties at the time Fannie Mae acquires the property. Renters occupying any type of single-family property will be eligible including residents of two- to four-unit properties, condos, co-ops, single-family detached homes and manufactured housing. Eligible renters will be offered a new month-to-month lease with Fannie Mae or financial assistance for their transition to new housing should they choose to vacate the property. The properties must meet state laws and local code requirements for a rental property.
While the company markets the properties for sale, Fannie Mae will manage the properties through a real estate broker or a property management company. The company will not require security deposits to be posted in connection with this program.
Renters in the foreclosed properties will be asked to pay market rate rent under the new leases. Rates may be determined by reviewing local comparable rents, conducting a neighborhood survey, or through other relevant indicators. Rates will also be subject to any legal rent control restrictions. The company will review each instance where the market rate may require a tenant to pay additional rent and will work to reach an equitable resolution, the company said.
On behalf of the company, property managers are contacting renters in Fannie Mae-owned foreclosed properties to notify them of their options.
Tuesday, January 13, 2009
Sales are up... if you know what you are doing!
As detailed in a recent CNN story,
Regional breakdown: Pending home sales across all regions were down from October to November. But sales in the West were actually up significantly from November 2007.
The pending home sales index fell 7.2% to 63.2 in the Northeast and stood 14.6% below its November 2007 levels. In the Midwest, the index slipped 6.7% to 74.2 and was down 10.1% year-over-year. In the South month-to-month losses were more modest, with the pending home sales index down 2.2% to 85.3, but it was off 12.7% from a year ago.
In the West, however, while the index was down 2.4% in the month to 101.2, pending sales jumped 19.3% from November 2007. That sales increase is due to the dramatic drop in home prices in states like California, Arizona and Nevada, which has spurred new deals, according to Larson.
"You are having a lot of foreclosures in those three states and banks are just cutting the prices until those homes sell," added Newport.
Regional breakdown: Pending home sales across all regions were down from October to November. But sales in the West were actually up significantly from November 2007.
The pending home sales index fell 7.2% to 63.2 in the Northeast and stood 14.6% below its November 2007 levels. In the Midwest, the index slipped 6.7% to 74.2 and was down 10.1% year-over-year. In the South month-to-month losses were more modest, with the pending home sales index down 2.2% to 85.3, but it was off 12.7% from a year ago.
In the West, however, while the index was down 2.4% in the month to 101.2, pending sales jumped 19.3% from November 2007. That sales increase is due to the dramatic drop in home prices in states like California, Arizona and Nevada, which has spurred new deals, according to Larson.
"You are having a lot of foreclosures in those three states and banks are just cutting the prices until those homes sell," added Newport.
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