French County in Tahoe - close to everything

It's a New Year with Great Opportunities!

What a lovely home! Three Bedrooms, two and a half baths of Quality Construction in 3000 Sq. Ft. in a neighborhood close to Heavenly, all for $419,990. UNBELIEVABLE! This is Bank Owned (REO) - ready for an Owner!

HomePath Financing Available!

If this is not your Joie de Vivre sign-up for my auto search and find out what else is available!

http://www.moebest-henderson.com/

Many great Tahoe Properties at 1990's prices.

Marlene Henderson, Realtor/Broker Ca/Nv. 00599374/0022598

831.429.9091 LandLine

831.419.9091 Airphone

775.588.3325 Nevada Office

GREAT Real Estate Opportunities

With all the incredible properties out there for sale, it is hard to not want to put everything out there. What I have done here is just put a sampling of properties I come across that I know are terrific locations and prices in locations that can't be beat. Most are Bank Owned (REO's) or short sales. The one auction coming up is A RARE situation in an incredible community at Lake Tahoe. If you have immediate CASH, have always been wanting that family compound built with true quality materials, architechturally stunning and the layout is so perfect, this is it!! CALL ME for the info packet, AUCTION IS JULY 15 on site. THE Back Road, Glenbrook - Lake Tahoe, Nevada. Don't worry there is only one, you won't get lost!!

I always post these great finds on my facebook page since that is the most accessable to the public. You can go on my website to further search the MLS system for more properties and better yet just call me so I can relay propertis that I may not have posted anywhere yet.
This all takes time and I am pretty busy with managing and inspecting too.


http://www.facebook.com/#!/pages/MoeBEST-Henderson-Properties-and-Property-Management/139443654934?ref=ts

REO Buyer Financial Updates May 2010

Just got my current Residential REO Buyer Specialist Certification, put it to your BEST advantage!!

This is the latest info on REO Foreclosed homes that has come down the pipe through CAR (Calif. Assoc. of Realtors)

With a new supply of foreclosed home coming on the market expected in June according to Credit Suisse, CAR and many national banks are stepping up to the plate and 'training' agents/brokers on what each individual bank wants to see from a BUYER. The guide lines are similar but in this new day of personal responsibility the qualifying perameters are pretty --- well, REAL! And thats a good thing!!
Most of this is what used to be in the good ol' days.
Buyers/users are being required to have a minimum of a 660 credit score, this is down from a 720 recently.
Two years fully documented income and last quarter investment accounts.
If self employed
Two year tax returns
Rental income, corporation or partnership schedules, social security or other retirement income schedules for the past two year.

Qualifying Debt Ratios

The 'front' ratio for a conforming loan is 28%, 33 for a non-conforming loan, and 31% for FHA. There is NO ratio used in VA loans.

The 'Back' ratio or the total monthly debt of the buyer for a conforming loan is 36%, 40 for a non-conforming and FHA is 43%. VA in computed by a different manor and the ratio is 41%.
Mortgage Insurance come into play here also when a buyer puts down less than 20%.

Fixer-upper - REO's plenty of room in loans to rehad these and well, there are many other details and loan packages that have been devised to get these ones moving.

Just give a call, I give you the low down!

How's the Real Estate Market??

The Real Estate World --- Is a multi-headed Serpent
Five part series

The question “How’s the Real Estate Market?”
has no simple way of describing all the factors that contribute to the volatility for this segment of our economy. From Banking, its regulations and lack thereof, politics, lobbyists, developers, local planning dept’s., and on and on. Only addressing the areas that are directly related, I will give it a go though!

We will start with the . . .
Investors/buyers.
This ranges from the single individual with mega cash to invest hence no credit score issues, to the two income couple with three children struggling to get into their first home on a hope and a prayer.

Where you are in this spectrum, determines the ease in accomplishing your goal and which directions you can take.

If you are in the “Cash Flush” Investor category, you can literally track foreclosures, show up on the courthouse steps and plunk down the cash on all kinds of bargains, I have watched, it is - stunning! The great deals are out there and are being snapped up. This is how the bulk of the sales of existing homes is happening now and with the ‘flipping regulation’ just having been removed, it is an investors game right now.

But if you are like the rest of us, the all important credit score dictates the next steps - which I will go into as we proceed. Hence many twists and turns.

The most important thing to learn is ‘Cash is King’. Even though you prove to the banks you are an excellent candidate for a loan, right now the purse strings are very tight even though they have been loaned ‘our money’! We could go around all day about the why’s of this but my sincere opinion is further trouble ahead with what is be designed in Washington and the ‘Banks’ don’t want to be the ones at the table that can’t find a chair when the music stops.

The BEST thing you can do is work with an experienced reputable Real Estate Broker and Mortgage Broker! Ones that have been through many of the historic cycles and are up-to-speed on the “latest” with what entities are offering the BEST package and the latest regulations being issues by the Administration. This is changing at a rapid pace and keeps those not professionals in the business, ‘off balance’
and causes unnecessary complications for professionals -
is this the ‘Change’ we were Hoping for??
(to be continued)

Don't Miss the Boat for the second time!

In my weekly reading of C.A.R.'s newsletter and my analysis of mortgage rates and the prices being asked for properties now, this is an article that is an understatement to what I have been (Screaming) sorry I get excited! Prices have dropped back down to what I had seen in 2001-2003. So if you thought you were out of the running, or locally -"Missed the Boat" here is your second chance -- don't miss it!

Buying is now cost-effective for some renters

Many renters debating whether to buy or rent their homes are realizing that the increase in affordability, coupled with low interest rates and tax incentives, are tipping the scales toward homeownership.



MAKING SENSE OF THE STORY FOR CONSUMERS



· An analysis of 45 metro areas by the Associated Press found that the gap between the monthly mortgage payment on a median-priced home and the median rent has decreased from $777 a month to just $221 in the past three years.



· In markets across the nation, including the inland areas of California, prices have declined by nearly 40 percent, resulting in rising sales as first-time buyers use a federal tax credit that covers 10 percent of the home price, up to $8,000.



· Favorably priced foreclosures in some markets are drawing multiple bids. Many housing experts believe that as supply and demand even out, home prices will eventually begin to rise, but for now most buyers are having little difficulty finding affordable homes.



· Qualified first-time buyers may be eligible for loans insured by the Veterans Administration (VA), which does not require a down payment. Another loan product gaining popularity are those insured by the Federal Housing Administration (FHA), which require only a down payment of 3.5 percent.



· It is important that potential home buyers not only look at the monthly mortgage payment compared with their monthly rent payment, but that they also consider other costs associated with homeownership. These can include homeowner association (HOA) fees, insurance, maintenance, and utilities, which most renters are not responsible for paying.


For the full story Call: Marlene Henderson