Buy One Get One Free
So, if you have a family that you want to move into a home, and there is more than one of you, there are also new options. Check this out.
The foreclosure rate has moved so high and individuals have become so frustrated, that now people are just turning in their keys so that they don’t jeopardize their credit or move into a sticky situation. So, of course, Realtors are having to think outside of the box in order to get things back in order.
How do you think this one is going to work?
“Buy one house, get the 2nd house free.”
That’s right. If you make one $150,000 investment, you can get $150,000 for free! This particular deal started in San Diego in order to get rid of some of the lower developed homes when you buy one that is a little more pricey. If you buy a home in San Pasqual Valley for $1.6 million, you can get a second home in Escondido for free, typically, a $400,000 investment. That’s it! With nothing in the costs to increase over the years.
So, how this particular system actually working? So far, no results are being shown, but you can see it slowly creeping up in the news throughout the nation. And, if rates continue to go up like they are, you can best bet that the real estate crisis is going to start giving away homes everywhere.
Finally! Those who wanted to make millions are going to have to help out the homeless. Maybe this whole crisis is about getting the ones that have the greed and the money to do the right thing when they don’t have as much power. (smile).
So, if you want to move to San Diego, make sure you get on the deal of buy one get one free and take advantage of the Wal-Mart for Real Estate.
Why the U.S. Real Estate Crisis Is Happening
Most of us know that the real estate business has taken a turn for the worst in the U.S., with a high rise in foreclosures, home closures and the inability to buy and sell. In fact, the year 2007 was said to have real estate drop in sales by an average of 8.9%, an all time high, with some metro areas going up to 18% in drops. This is higher than it’s been in over 20 years and it has officially moved us into a depression.
There is actually a reason behind the sky rocketing problems with foreclosures…it isn’t coming out of the blue. The real estate problem is one that started to move into a crash beginning in 2001. During this time, the concept of the New Economy ended. This is one that was based around corporations, centralized banks and systems that were all located in one vicinity. When this ended, it caused for a loss in money because of the change in system.
Leave it to the US Federal Reserve. They didn’t want anyone to know about the change, because it would have led into a depression then. So, instead, they printed more money… a lot of more money. And, most of it was just a piece of paper. They then used this in order to build credit and loans. While this was done, the credit and the loans were given to those who had lower sets of income, because they could afford the credits and loans.
So, now, seven years later, there is a crisis. All of the credit and loans that individuals got, who typically wouldn’t be able to afford it, started moving up in rates. Interest rates, extra expenses, and all of the ‘terms and conditions’ weren’t built to help people get homes. They were built to give the federal reserve money back for what they lent out from money that was being printed out of term.
So, what is actually happening is that the money boost that you thought was happening was false. Unfortunately, those who thought they would be able to afford better living are now suffering, once again, leaving a large amount of vacancies and an entirely depressed economy.
Alternative Ways to Sell Your Home
I don’t know about any of you, but the process of buying and selling isn’t one that I would consider “fun.” It takes forever, you have to deal with people that don’t have your best interests in mind, and it is too easy for things to fall into the cracks from the teams of people that work on your home.
This whole thing is one that leaves you in the bind because you have to keep paying your mortgage and there are still problems with the transition stages.
However, there are alternatives. Recently, I ran into a few websites that allows you to sell your home in an average of 2 – 4 weeks. No hassle, no going through the hoops, none of the running around in circles with legalities and problems. Basically, these companies allow you to advertise your home through them, and they sell it as quickly as possible. Here’s what I love about these companies.
- they offer you 80 – 85% cash value of their home, despite the quick turn around
- they take care of all of the legal issues and pay for them
- they have a system that doesn’t miss any potential problems, without you having to worry about anything.
Whether you are looking for a way to get out of foreclosure or need to move on, selling fast is still an option. If you are looking for a way out quickly, you don’t have to worry about the condition of your home, the reasoning behind it and you don’t have to go through months of waiting.
This particular system works by having a list of potential buyers and individuals who are looking at property. They guarantee to buy and sell fast on both sides by connecting both links so that everyone gets what is needed.
If you need an alternative towards getting out of your home and moving out, this is it. It will allow you to get away without the attachments to a mortgage or home.
Preventing Foreclosures
We are all seeing it, feeling it and are most likely being affected by it. The foreclosure rates are skyrocketing right now, and are continuing to move up. In Colorado (my state), the problem started a good two or three years ago, with foreclosure rates up by about 50%. Now, this is beginning to resonate with the rest of the country.
So, with that said, if this is a pattern among almost half of the households, I don’t think it’s a problem of the households. Despite what some real estate agencies say…that homes are not paying and they are bad because of it… it’s really because the economy is horrible and the real estate banks that give loans are greedy. Come on… ARM rates that are at 8%? That will ‘break’ you.
It’s finally gotten so bad that there are now new systems that are coming into place. I’m certain that these will continue, with new legislation working at a national level. For those that are in a home, this is good news for you. If you have a bank that is large enough, they will be extremely flexible to prevent you from loosing your home. Just call them. For others, the most recent legislation – as of April, 2008, is from HUD with the FHA Loss Mitigation Program. These should be coming out on June 1, 2008 as a finalized statement. Basically, you can save your home no matter what your financial condition.
The reason why this is happening is because the banks are ‘finally’ starting to loose money from those who are in homes from foreclosures. The rates have gone up too far and too fast. The result? Banks can’t afford to close homes anymore in order to stay in business. So, instead they are finally working with those who are in trouble.
If you are a couple of months behind on your payments, I suggest that you start to talk to your mortgage company and bank in order to find your alternatives. As bad as the economy is becoming are more options than there have ever been in order to stay in your home.
Mortgage foreclosures up 65% from last year.
With the state of affairs as they currently are more homeowners have continued to fall behind on their mortgages. The numbers are a staggering 65 percent increase from this same time last year. The hardest hit states reported are Nevada, Arizona, California and Florida. But this is a nationwide epidemic and is reaching a very hard turn in the U.S. economy.
RealtyTrac Inc. has monitored default notices along with bank repossessions and auction sale notices to come up with the results. They also report that one in every 519 households received a foreclosure filing in April.
Many homeowners faced with the increased fuel costs and other financial difficulties are struggling to pay their mortgages. Selling their home is not an option as the continued weak housing sales and the falling home values have left everyone in quite a state.
The mortgage industry and the goverment are not doing enough to keep up with the rising number of people who are falling behind and once that process is begun it is almost impossible for people to be able to play catch up and stay ahead of the game.
The current forcast is for more than one millon home foreclosures in 2008. This is a rising problem in the United States and needs addressed immediately. However, there is a homeowner aid package which is to clear the senate but the White House has threatened to veto the plan.
There seems to be no end in sight to the rising foreclosures across America. The majority of these foreclosures are happening to hard working middle class people who cannot keep up with the rising oil prices which is driving the market into high food prices, high utility bills and a much high cost of living. Until the oil prices are addressed, the mortgage foreclosures will continue to rise at a rapid pace and there is just no end in sight.