Hurricane Sandy Housing Relief Efforts

Hurricane Sandy has left many innocent people in a state of disarray, driven from their homes and facing an uncertain future. The United States Department of Housing and Urban Development is trying to directly reach out to the victims of Hurricane Sandy, giving them short and long-term relief. They are trying to ensure that disaster victims, particularly those in the most damaged parts of Connecticut, New York, and New Jersey, have adequate housing or the opportunity to find it. Areas with a Presidential disaster declaration will receive special assistance. The United States Department of Housing and Urban Development will continue working to restore communities in the wake of this disaster.

HUD homes at a reduced price

Disaster vouchers to displaced victims and special loans to help victims get houses are among many options for those caught up in the aftermath of Hurricane Sandy. One of the reforms in the wake of Hurricane Katrina involved HUD homes being made available to hurricane victims at a reduced price.

FEMA will request a list of HUD homes for sale and distribute those lists to disaster victims, so the victims can decide upon HUD homes that meet their needs. Another resource the victims can consult is RealtyStore, which will give them specific information about HUD homes, their pros and cons, how to hind them, how to buy them, and how to go about the full process of acquiring them.

Buying HUD homes

The people most strongly affected by Hurricane Sandy are encouraged to take advantage of the HUD homes for sale. There are different financing options available for those interested in buying these homes, and leasing options available for disaster victims. Even people with other related financial problems should have the full range of opportunities, since buying government foreclosures often works differently than other forms of real estate. A helpful guide to buying HUD homes is available at RealtyStore.com.

HUD Homes for Sale After Hurricane Sandy

Hurricane Sandy has been devastating for many people across the East Coast, particularly in New York, Connecticut, and New Jersey. The federal government has orchestrated a substantial relief effort to help the victims most affected by Hurricane Sandy. The U.S. Department of Housing and Urban Development (HUD) in particular is issuing a number of new provisions that will help homeowners victimized by Hurricane Sandy. Some of the potential activities associated with disaster relief funds include helping homeowners with down payments, giving them loan guarantees, and subsidizing their interest rates. Victims need short and long-term financial protection in order to get back on their feet.

Victims may also receive relocation payments as the government buys damaged properties and tries restoring them. As the government tries to provide housing for disaster victims, there will be HUD homes for sale and a potential increase in available HUD homes. Homeowners may get support for funding their home’s rehabilitation, and forbearance on foreclosures themselves. The available HUD homes themselves would be from the inventory of vacant homes and government foreclosures, so the process has come full circle. The eventual restoration of the damaged communities will give people even more options in the future.

RealtyStore is a good source of information for anyone trying to research the subject in detail, for themselves or for others. Any local library should be able to provide Internet access for anyone who is temporarily without his or her own Internet access. Finding cheap homes for sale and buying HUD homes is largely a matter of researching available listings, and then evaluating your own credit history. There are many financing options available for even homeowners with less than stellar financial backgrounds and credit reports, especially in the wake of a disaster like Hurricane Sandy.

Be Double-Sure before Buying

One of the biggest problems that potential home buyers make is jumping on, what seems an incredible deal on a property. Just like watching a movie more than once, a second trip to foreclosure listings can deliver new points missed the first time around. Make a list of everything good and revisit to expand this list to include everything that needs attention. Compare the two lists and the money involved before making a final decision.

Seeing is not always Believing

While foreclosure listings are often not as easy to inspect as many homes for sale on the market, a few extra dollars for a home inspector can same you thousands. Horror stories of undetected problems in purchasing distressed properties should lead you to speaking with neighbors and hiring a qualified inspector. Seeing a property in a real light through the eyes of others can often save lots of wasted time and money.

Home Buying can be a Costly Endeavor

Purchasing a home with lease option, low down payment or needed repairs often becomes more expensive than originally planned. Unexpected expenses like less than suitable contractors or finding a foundation unstable can leave you penniless in a matter of weeks. Never allow the heat of the moment to motivate your decisions when considering foreclosure listings or building a new home. Make a list that covers all angles and stick to it.

The Sensitivity of Pre-Foreclosures

Missing a single payment on a mortgage can cause the mortgage lender to consider a pre-foreclosure. It is a leading indication that the homeowner is having financial difficulties. Being sensitive to the residents is key in approaching someone that is headed for their home to become placed in foreclosure listings. By researching the property in advance and negotiating a short sale, the end result can be a win-win situation for both the buyer and the seller.

FSBO Knowledge on Disclosure Laws

Move your FSBO property through creative financing such as a lease option but remember, honesty is the best policy. Be aware of the Disclosure Laws of your area and what is expected from the seller. Most states prefer not to get involved in disagreements between buyers and sellers but if obvious problems are covered up by a FSBO individual, the liability could be costly. Be proactive in disclosing any major flaws to avoid lawsuits.

Use Resources of Today to Reach Young Investors

Discover a fresh audience for foreclosure listings in the age 30 and younger crowd through technology and Internet resources. Many are actively seeking bargains for first-time home ownership or looking to investment in cheap real estate properties.

By tapping into social networking such as Facebook and LinkedIn, your property is exposed to millions of clients. YouTube videos are also a great way to bring reality to properties that often passed by.

Reality TV Star Dives too Deep

Alexis Bellino, reality TV actress, found that having it all can abruptly change. Along with husband, Jim, the couple sunk a whopping $6 million into upgrades to their $3.3 million home. Her own reality has now crept into a personal nightmare in trying to foot the bill. Now considering a short sale, living beyond your means is never a good idea no matter how much money you make.

$71 Million not enough to make House Payment

We could all learn a big lesson from former NBA star, Antoine Walker. Money doesn't grow on trees or flow through rivers. The once Boston Celtics player has found his Miami home on the list of foreclosure listings for $3 million. Rumor has it that Walker likes the Crap tables and just didn't budget his money very well. Currently, the lender is attempting to stop a bankruptcy on the property.

Good Advice about Rent to Own Property

There is good news for people who are still renting because a credit score or other problem is prohibiting purchase of a real estate bargain. A recent article refers to the opportunity of rent to own homes. Even better, it addresses the things prospective buyers and sellers need to know about the process, such as costs, obligations and guidance.

Both lease option agreements and those for rent to own homes are discussed as an advantage. Additional rental premium is held in a separate account by the owner to apply towards a down payment. If an option fee is part of the agreement, it will be credited to the down payment.

Guidelines suggest steps to take before signing an agreement. Verifying ownership, a clear title and an appraisal are just a few of the hints to avoid problems. Another valuable tip is to speak with a mortgage lender about how to qualify to buy the home when the lease option agreement expires. A current appraisal will provide the lender with documentation to review.

In-depth issues regarding rent to own homes are addressed to serve as a caution to both buyers and owners. These include issues when the home has lost value at the end of the agreement or the prospective buyer does not qualify for a loan. Advantages given the homeowner in this type of situation are also covered. The result is that both parties enter the agreement better informed and likely to successfully complete the transaction.

Why Rent-To-Own Is So Popular in Housing Today

Many people have a dream of owning their own home. For those with less than perfect credit, trying to see that dream through to fruition may be more like a nightmare. One way in which they are able to realize the dream is the lease option or the rent-to-own home. To the long term renter, the lease option is much like going through the process of closing. Personal financial problems such as poor or no credit, a history of a foreclosure, the loss or displacement from a job can make it very difficult to get their home loan approved.

Bloomberg reports from recent months show that more than sixty percent of the current housing market in the United States is owned by major banks or mortgage subsidiaries. Add to that the loss of home values which is currently estimated to be about 30 percent plus, and it will explain the vast array of lease applications that companies are receiving. According to John Hogue, who is a consultant for Rest Easy Home Solutions, “The housing market is going through a sharp decline and the data that we have witnessed in news reports backs up the theory of more people turning to renting instead of buying." The problem is that many of them are not in a position to pay a down payment or to achieve financing currently.

When the rent-to-own option or the lease option enters the picture there are far better chances that these people will be able to attain a home to buy since part of their payment goes toward future ownership of the home. With part of each monthly payment set aside toward the down payment on the home, even those with income problems or a history of credit issues have the chance to achieve the home ownership dream.

Why You Need a Reputable Realtor for Foreclosure Listings

Not all foreclosure listings are listed equally. This is especially true in the depressed real estate market where foreclosures are on the rise across all states in the country. Many families, couples and individuals have been duped into entering foreclosure rental agreements where the supposed landlord collected on the rental payments and yet he is not the rightful owner of the property.

With this in mind, we strongly suggest getting a reputable realtor to provide expert assistance on your search for the best deals on for-rent properties. Such a real estate professional can be found in sites like RealtyStore.com where the listings of foreclosed properties have also been verified as to their legality.

The question then is: What are the specific benefits enjoyed with hiring a reputable realtor when browsing through foreclosure listings for foreclosure rental prospects - or for home purchase, for that matter?

The sheer number of for-rent foreclosed properties can cause physical and emotional stress on the average individual, not to mention the financial costs of looking through all the possible properties. Without a realtor, you have to schedule the tours, await the response of the owners, and generally just do everything yourself. Add in your everyday activities and you will have your hands full as well as be more vulnerable to scams.

With a reputable realtor on your side, you can tell the agent what you need and want in the rental property (i.e., number of rooms, area in square foot, and facilities like an indoor pool) and let him do the browsing through the foreclosure listings. You will then have a shortlist of the possible properties, spend time taking tours through these units, and then make your decision. You can still enjoy your life instead of pouring more time, energy and effort than necessary to house-hunting.

You also have an expert to explain the current rental market. You have someone to answer your questions about the rental rates, contracts and upgrades, among other things, instead of going about the process with blindfolds on, so to speak. You have an expert to set realistic expectations from the first get-go.

Last but certainly not the least, you can avoid scams related to the foreclosure market. If you are looking for your next rental home via online sites like craigslist, you are at high risk for being a victim of these scams, as many other tenants have discovered too late. Your reputable realtor will work in your behalf to protect your interest, just as your attorney will also do so.

In conclusion, before you browse through the foreclosure listings, be sure that you have a reputable, reliable and experienced realtor on your side. Try the RealtyStore.com now!

Don't Skip Out On The Foreclosures In New Jersey

If you have been wondering if you will ever be able to find affordable housing, you are in luck thanks to the many foreclosures in New Jersey. You might not think that there are a lot of foreclosures out there but all you have to do is to take one quick look at some of the reputable New Jersey foreclosure listings and you will realize just how easy this might end up being for you. Just like in neighboring New York state, New Jersey foreclosures are plentiful.

New Jersey foreclosures may be a great investment

Of course, when you set out to purchase these repossessed homes, you are going to find that there are some houses in better condition than others. Some of the REO homes have been mistreated but can still be fixed up. Then there are the homes that were very well taken care of, even right up to the end. Either way, these are cheap homes that you will be able to make your own.

Even if you still think that there cannot be that many homes to pick from, the New Jersey foreclosure listings will set you straight. As of right now, there are over 2,300 bank foreclosures in New Jersey. While there are foreclosures that can be found all over the state, you will find that the cities of Newark, Paterson and Toms River will have the most to pick from. The sooner you start looking for foreclosures in New Jersey the better. You might just find yourself purchasing even more foreclosures to begin a career in real estate investing.

FSBO Homes in Maryland

Introduction


The state of Maryland is mostly concentrated around the Baltimore and Washington, D.C. areas. Upscale neighborhoods dot the area, but these areas are not immune to housing woes – as evidenced by the numbers of FSBO homes in Maryland. 


Annapolis, Salisbury (Maryland) and Ocean City offer ocean views with smaller populations and proximity to the nation’s capital.


Maryland FSBO Statistics


As of February, 2012, Maryland listed 1,881 homes for sale by owner, states RealtyStore.com.


The highest number of homes for sale by owner are located in Baltimore. The second-highest number of FSBO homes is held by Ocean City and Annapolis holds the third-highest spot. The top three ZIP codes for FSBO homes in Maryland are: 21550, 21401 and 21811.


Maryland Homes For Sale By Owner


FSBO or “for sale by owner” homes aren’t represented by a selling Realtor. Instead, the owners of these homes have chosen to sell the home by themselves without representation, meaning they can save on a Realtor’s commission. Not only does the seller save on the commission – the buyer saves on the commission as well and may be able to negotiate a lower buying price. 


Should a buyer be searching for a FSBO home, he will have to dig a little more deeply because these homes are not usually listed on the Multiple Listing Service, or MLS. Because the home’s availability is not as well-known, those buyers who find out about the home compete with fewer buyers. They may place a successful bid on a FSBO home. This does not mean that the buyers who are looking at a specific FSBO home can relax and take more time to consider their options. Just as with traditionally listed homes, a FSBO home will quickly move off the market.


FSBO sellers and buyers may also benefit from much less paperwork, but proof of ability to buy a home and make the monthly payments are still necessary. The requirements in buying FSBO homes in Maryland can include a down payment, proof of income and confirmation of past and present employment.