The article below is a little extreme, but it is real. We all saw it on national TV and we have taken the time to discuss the foreclosure issues on InvestSmarter.com and it is a major problem. It's a never ending spiral and guess what....it's here in full effect in the Destin Florida Real Estate market. Don't let it catch you off guard. The downward spiral of debt management is a never ending trend. You get behind and can't catch up. Hope that the economy doesn't take one or both of the spouse out of work! There is some good information as they mention below. Take some time to really look into the outcomes on FreeCreditReport and see what you can do now to save your future!
Ed McMahon's New Job: Talking About Credit Ed McMahon, who recently nearly lost his home to foreclosure, has found a new gig. The 85-year-old is posing as a rapper in a television commercial for Experian's FreeCreditReport.com.In the ad, McMahon raps about how to avoid bad credit, and he speaks from experience. Charles Harris, senior vice president of marketing for FreeCreditReport.com, said his company got the idea after watching McMahon appear on the "Larry King Live" TV talk show this summer when he discussed his foreclosure problem and took the blame for not managing his debt better.McMahon made headlines this past summer when he defaulted on a $4.8 million mortgage on his six-bedroom home. At that time he was said to be $644,000 in arrears on the debt.Source: Reuters News, CNN.com (09/25/2008)
For more information online about foreclosures and short sales also visit http://www.randbcoastalrealestate.com/ and you can search for properties for sale in the Destin Real Estate Short Sale Market online.
Saturday, September 27, 2008
Monday, September 1, 2008
Tired of Renters or Managing Property? Many Investors Turn To Land
When all else fails in real estate, vacant land can be one of the easiest investments to make! That's right...no headaches of renters, fees, hidden woops. Just easy things like a mortgage if there is one, and property taxes. Yes no repairs, insurance adjustments, vacant tenants, damage, upkeep, etc.
So land does have a few benefits, but the tax advantage isn't as great, but it's also a much easier investment for many people once they determine what they can afford. Vacant Land in Destin Florida is a little more difficult to come by, but it is there. Commercial and Residential lots are great long term investments and even more so in today's market!
Here is an interesting article about investing in land:
Daily Real Estate News August 29, 2008Consider Stocking Up on Land More small buyers are investing in undeveloped land. "There is a really attractive market emerging for the small investor," says Eric O'Keefe, editor-in-chief of Land Report magazine. "With credit tightening, what you're seeing in essence is some of the air being let out of the bubble that was driving prices up."Buying land is no slam-dunk. An investor must be able to judge which land is most apt to deliver a profit down the road and be able to hold onto the property long enough to benefit.Also, variations in prices make these kinds of investments painful for the faint of heart. For instance, the Texas real estate commission reported that land prices went up by 20 percent in 2007. But land values in Southern California have tumbled at least 50 percent along the coast and as high as 90 percent. inland, investors say.Plus, ownership can be expensive. Besides high borrowing costs, there are property taxes and liability insurance costs to pay.Nevertheless, some investors are convinced now is the time. "It's a delicate business, but it's just about bad enough to be good again," says William Shopoff, chief executive of Shopoff Group, a real estate investment firm in Irvine, Calif.Source: Investor’s Business Daily, Brad Kelly (08/29/2008)
So if you take some of the basics and apply trends and growth, land can be a great investment, but it's 100% out of pocket and with no real breaks. So be prepared for a longer investment!
For more information on investing in Land please visit http://www.randbcoastalrealestate.com/ where you can search from Pensacola to Panama City for property that is for sale.
So land does have a few benefits, but the tax advantage isn't as great, but it's also a much easier investment for many people once they determine what they can afford. Vacant Land in Destin Florida is a little more difficult to come by, but it is there. Commercial and Residential lots are great long term investments and even more so in today's market!
Here is an interesting article about investing in land:
Daily Real Estate News August 29, 2008Consider Stocking Up on Land More small buyers are investing in undeveloped land. "There is a really attractive market emerging for the small investor," says Eric O'Keefe, editor-in-chief of Land Report magazine. "With credit tightening, what you're seeing in essence is some of the air being let out of the bubble that was driving prices up."Buying land is no slam-dunk. An investor must be able to judge which land is most apt to deliver a profit down the road and be able to hold onto the property long enough to benefit.Also, variations in prices make these kinds of investments painful for the faint of heart. For instance, the Texas real estate commission reported that land prices went up by 20 percent in 2007. But land values in Southern California have tumbled at least 50 percent along the coast and as high as 90 percent. inland, investors say.Plus, ownership can be expensive. Besides high borrowing costs, there are property taxes and liability insurance costs to pay.Nevertheless, some investors are convinced now is the time. "It's a delicate business, but it's just about bad enough to be good again," says William Shopoff, chief executive of Shopoff Group, a real estate investment firm in Irvine, Calif.Source: Investor’s Business Daily, Brad Kelly (08/29/2008)
So if you take some of the basics and apply trends and growth, land can be a great investment, but it's 100% out of pocket and with no real breaks. So be prepared for a longer investment!
For more information on investing in Land please visit http://www.randbcoastalrealestate.com/ where you can search from Pensacola to Panama City for property that is for sale.
Monday, July 21, 2008
Multi Family Buildings More Appealing
Many young and financially savy buyers are turning towards multifamily and income producing properties. Some are renting part and living in the other part, some are just making the investment. These days with caps on FDIC requirements at $100k, and the fear of banks going under...where else can you put your money?
One place in the Destin Real Estate market is similar to below. Visit www.InvestSmarter.com to see more information on investing in multi family properties.
More Buyers Seek Multifamily Properties
Multi-unit properties are regaining popularity among buyers who see them as a way to house extended family members or as an opportunity to get a little help with the mortgage.People of all types purchase multifamily property, says Cory Weiss, estates director of Prudential California Realty in Beverly Hills. "We have foreign buyers as well as owner-users that want to live in a unit and then rent the others out." Magdalena Glen-Schieneman, owner of MGS Architecture in Venice, Calif., says clients seeking multi-family properties are often young, well heeled and financially savvy. "They're looking to maximize their real estate assets by generating revenue with outlying structures."Chad Parsons and his partner, Wolfgang Bauer paid $399,000 in 2002 for a three-unit property in Venice, Calif. Parsons says he thinks properties like theirs could become increasingly popular in overpopulated areas. "I think as the population grows and the space disappears in Los Angeles and other metro areas . . . it's less realistic for people to have large pieces of property with a single home."
Source: Los Angeles Times, Chuck Green (07/20/2008)
For more information on the Destin Real Estate market also visit www.Real-Estate-Destin-Florida.com for some of the latest trends and to become part of the InvestSmarter network.
One place in the Destin Real Estate market is similar to below. Visit www.InvestSmarter.com to see more information on investing in multi family properties.
More Buyers Seek Multifamily Properties
Multi-unit properties are regaining popularity among buyers who see them as a way to house extended family members or as an opportunity to get a little help with the mortgage.People of all types purchase multifamily property, says Cory Weiss, estates director of Prudential California Realty in Beverly Hills. "We have foreign buyers as well as owner-users that want to live in a unit and then rent the others out." Magdalena Glen-Schieneman, owner of MGS Architecture in Venice, Calif., says clients seeking multi-family properties are often young, well heeled and financially savvy. "They're looking to maximize their real estate assets by generating revenue with outlying structures."Chad Parsons and his partner, Wolfgang Bauer paid $399,000 in 2002 for a three-unit property in Venice, Calif. Parsons says he thinks properties like theirs could become increasingly popular in overpopulated areas. "I think as the population grows and the space disappears in Los Angeles and other metro areas . . . it's less realistic for people to have large pieces of property with a single home."
Source: Los Angeles Times, Chuck Green (07/20/2008)
For more information on the Destin Real Estate market also visit www.Real-Estate-Destin-Florida.com for some of the latest trends and to become part of the InvestSmarter network.
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