Dallas Appraiser L.L.C. wants your help and commentary on our Real Estate Blog

Title: 

Foreclosure Investing - The Pros And Cons Of Investing In Foreclosures

Word Count:

555

Summary:

Investing in home foreclosures can be very lucrative; however, there is substantial risk involved, just as in any type of investing. Look at some of the pros and cons of three different types of foreclosures.

keywords: #Real_estate_appraiser, #Dallas, #Tarrant, #Johnson, #Dallas, #home_appraiser, #home_appraisal, #Property_appraiser, #home_value, #real_estate_appraisal, #Appraisal, #Appraiser, #Home_size, #casa, #Arlington_Tx, #Mansfield_Tx, #foreclosure, #property, #Home, #House, #Real_Estate, #Measure, #house_size, #DFW, #square_footage #what_is_my_house_size, #Stage, #staging, #Refinance, #value, #For_sale_By_Owner

Article Body:

Investing in foreclosures is no doubt one of the best opportunities to make money in today's economy. As with any type of business venture, there are risks involved. Investing in foreclosed properties offers great opportunity to buy homes significantly under market, but there are some risks such as considerable research, under lying lien problems, long-term carrying costs and several others. If you are willing to take the chance on a property or two you may prosper in the end.

Foreclosed homes can be purchased at several stages. First is the pre-foreclosure phase, then the auction phase and finally the REO phase each of these presents their own set of pros and cons. Familiarize yourself with each of these different types of foreclosures, weigh the pros and cons for each, you may be able to avoid a costly mistakes and headaches through the process of investing in home foreclosures.

Take a look at the possible pros and cons at the various stages of a foreclosure:

Pre-Foreclosure Phase

This is the stage where the homeowner is still in control of the property. Although the loan is in default and the pressure from the lenders is just beginning. The homeowner is usually in a position to sell the property quickly and avoid the foreclosure process all together. This means hue savings and large potential profits for you.

Pros

20-40% discounts on the estimate value

Low or no down payment, due to the built in equity

Research and inspection opportunities 

Sales agreements that are flexible

Cons

Home owner may not be reachable

Fierce competition, many investors are trying to buy these type foreclosures

Time to research documents and court filings

Undisclosed or underlying liens against the property

Auction Phase

Possibly the most profitable stage of a foreclosure. Auctioned properties usually offer the best potential profit when buying foreclosures. An auctioned property is sold during a public auction to the highest bidder. If you have done you, research these types of properties are sometimes sold way under market value.

Pros

Greater discounts can be as high as 35-50%

Great ROI, return on investment

Greater potential profit

Cons

Property inspection is generally not available

Postponed auctions mean valuable time lost and research wasted

Large down payments that must be paid at the time of auction

Incomplete research can cost you a lot of money

You may not win the auction at all

REO Phase

An REO occurs when the lender retains the property after the auction phase. If the bids are not high, enough during the auto the lender will bid on the property to seize control and resell it themselves. In most case, the property has no value to the lender until the house sells; in this case, the lender is usually motivated to sell the property fast.

Pros

Discounts of 5-18%

Clear title, free of all liens

Back taxes are up to date

Lenders may do the repairs, or offer additional discounts

Cons

Low ROI, return on investment

Research must be very through

Potential for loss in the end

When investing in real estate, especially in foreclosures there is great risk involved. While the potential to make a substantial profit in foreclosures you need to make sure that, you do your research and fully understand what your risks are. Properties that offer the greatest profit potential are often times the risky investments.

Managing the Bottom Line in your Real Estate business

keywords: #Real_estate_appraiser, #Dallas, #Tarrant, #Johnson, #Dallas, #home_appraiser, #home_appraisal, #Property_appraiser, #home_value, #real_estate_appraisal, #Appraisal, #Appraiser, #Home_size, #casa, #Arlington_Tx, #Mansfield_Tx, #foreclosure, #property, #Home, #House, #Real_Estate, #Measure, #house_size, #DFW, #square_footage #what_is_my_house_size, #Stage, #staging, #Refinance, #value, #For_sale_By_Owner

If you don't keep track of how much money you're making, you have no idea whether your business is successful or not. You can't tell how well your marketing is working. And I don't just mean you should know the amount of your total sales or gross revenue. You need to know what your net profit is. If you don't, there's no way you can know how to increase it. 

If you want your business to be successful, you need to make a financial plan and check it against the facts on a monthly basis, then take immediate action to correct any problems. Here are the steps you should take: 

* Create a financial plan for your business. Estimate how much revenue you expect to bring in each month, and project what your expenses will be. 

* Remember that lost profits can't be recovered. When entrepreneurs compare their projections to reality and find earnings too low or expenses too high, they often conclude, "I'll make it up later." The problem is that you really can't make it up later: every month profits are too low is a month that is gone forever. 

* Make adjustments right away. If revenues are lower than expected, increase efforts in sales and marketing or look for ways to increase your rates. If overhead costs are too high, find ways to cut back. There are other businesses like yours around. What is their secret for operating profitably? 

* Think before you spend. When considering any new business expense, including marketing and sales activities, evaluate the increased earnings you expect to bring in against its cost before you proceed to make a purchase. 

* Evaluate the success of your business based on profit, not revenue. It doesn't matter how many thousands of dollars you are bringing in each month if your expenses are almost as high, or higher. Many high-revenue businesses have gone under for this very reason -- don't be one of them. 

Building Cash Reserves in your Real Estate business

keywords: #Real_estate_appraiser, #Dallas, #Tarrant, #Johnson, #Dallas, #home_appraiser, #home_appraisal, #Property_appraiser, #home_value, #real_estate_appraisal, #Appraisal, #Appraiser, #Home_size, #casa, #Arlington_Tx, #Mansfield_Tx, #foreclosure, #property, #Home, #House, #Real_Estate, #Measure, #house_size, #DFW, #square_footage #what_is_my_house_size, #Stage, #staging, #Refinance, #value, #For_sale_By_Owner

Building a financial cushion for your business is never easy. Experts say that businesses should have anywhere from six to nine months worth of income safely stored away in the bank. If you're a business grossing $250,000 per month, the mere thought of saving over $1.5 million dollars in a savings account will either have you collapsing from fits of laughter or from the paralyzing panic that has just set in. What may be a nice well-advised idea in theory can easily be tossed right out the window when you're just barely making payroll each month. So how is a small business owner to even begin a prudent savings program for long-term success?

Realizing that your business needs a savings plan is the first step toward better management. The reasons for growing a financial nest egg are strong. Building savings allows you to plan for future growth in your business and have ready the investment capital necessary to launch those plans. Having a source of back-up income can often carry a business through a rough time. 

When market fluctuations, such as the dramatic increase in gasoline and oil prices, start to affect your business, you may need to dip into your savings to keep operations running smoothly until the difficulties pass. Savings can also support seasonal businesses with the ability to purchase inventory and cover payroll until the flush of new cash arrives. Try to remember that you didn't build your business overnight and you cannot build a savings account instantly either. 

Review your books monthly and see where you can trim expenses and reroute the savings to a separate account. This will also help to keep you on track with cash flow and other financial issues. While it can be quite alarming to see your cash flowing outward with seemingly no end in sight, it's better to see it happening and put corrective measures into place, rather than discovering your losses five or six months too late.

Making a Profit in Real Estate - treat it like a business

keywords: #Real_estate_appraiser, #Dallas, #Tarrant, #Johnson, #Dallas, #home_appraiser, #home_appraisal, #Property_appraiser, #home_value, #real_estate_appraisal, #Appraisal, #Appraiser, #Home_size, #casa, #Arlington_Tx, #Mansfield_Tx, #foreclosure, #property, #Home, #House, #Real_Estate, #Measure, #house_size, #DFW, #square_footage #what_is_my_house_size, #Stage, #staging, #Refinance, #value, #For_sale_By_Owner

Accountants are responsible for preparing three primary types of financial statements for a business. The income statement reports the profit-making activities of the business and the bottom-line profit or loss for a specified period. The balance sheets reports the financial position of the business at a specific point in time, often the last day of the period. and the statement of cash flows reports how much cash was generated from profit what the business did with this money.

Everyone knows profit is a good thing. It's what our economy is founded on. It doesn't sound like such a big deal. Make more money than you spend to sell or manufacture products. But of course nothing's ever really simple, is it? A profit report, or net income statement first identifies the business and the time period that is being summarized in the report. 

You read an income statement from the top line to the bottom line. Every step of the income statement reports the deduction of an expense. The income statement also reports changes in assets and liabilities as well, so that if there's a revenue increase, it's either because there's been an increase in assets or a decrease in a company's liabilities. If there's been an increase in the expense line, it's because there's been either a decrease in assets or an increase in liabilities. 

Net worth is also referred to as owners' equity in the business. They're not exactly interchangeable. Net worth expresses the total of assets less the liabilities. Owners' equity refers to who owns the assets after the liabilities are satisfied.

These shifts in assets and liabilities are important to owners and executives of a business because it's their responsibility to manage and control such changes.  Making a profit in a business involves several variable, not just increasing the amount of cash that flows through a company, but management of other assets as well.

Title: 

A Realtor's Guide To Personal Safety

Word Count:

643

Summary:

A major concern for realtors is personal safety. Many times the realtor is working alone in showing a property, having an open house, or manning the model house in a new subdivision.

keywords: #Real_estate_appraiser, #Dallas, #Tarrant, #Johnson, #Dallas, #home_appraiser, #home_appraisal, #Property_appraiser, #home_value, #real_estate_appraisal, #Appraisal, #Appraiser, #Home_size, #casa, #Arlington_Tx, #Mansfield_Tx, #foreclosure, #property, #Home, #House, #Real_Estate, #Measure, #house_size, #DFW, #square_footage #what_is_my_house_size, #Stage, #staging, #Refinance, #value, #For_sale_By_Owner

Article Body:

A major concern for realtors is personal safety. Many times the realtor is working alone in showing a property, having an open house, or manning the model house in a new subdivision. Some personal safety issues should include:

On the first meeting of a client, have them meet you at the office. Get as much personal information as possible. A copy of the driver’s license is a good start not only for safety, but also for the client database.

If you have a strange feeling about the client, don’t show property by yourself. Ask a co-worker to go with you; at worst you might have to split the commission. If you are manning an open house and you feel that you might be in danger, leave the property and call for help. 

Always drive your own car to the property as this might be the only means of escape. On the way make notes on the type of car, color, and license plate number and call the office with this information. Once at the property make sure your car is not blocked and you have an easy escape (no backing-up).

As you are showing the property, always have the client lead you; this allows the property to present itself and keeps the client where you can see them.  Make sure they sign-in on the registry and if the office does not have the information on the client, get the information to them. Your office will know you are with a client at this time.

Keep your keys and cell phone close and easy to access. If need be, keys can be effective weapon of surprise. If you have a handbag, keep it with you at all times or locked in the trunk of your car. Know the property, not only do you look more professional, but safer; your client does not know all of the exits as well as you should. 

Take a few self defense classes, as a few minutes head start out of the property means the difference in a safe escape and being trapped. Take the first chance for escape and don’t try to talk your way out; keep your advantage. The more time you spend in a dangerous situation means a diminished chance of a safe exit.

Let the client see that you have contacted your office and the office knows who you are with. It is also a good idea to have a secret code for trouble such as ‘Pick up dog food’ when you don’t have a dog. It is also a good idea to set your phone to vibrate as your client will not know if you are calling or if you are receiving a phone call.

If there is an emergency your office can play a vital role. Make sure they have the make of your car, its color, and license plate. If you are using a different car that day, make sure they have its description as well. 

Make sure your office has your schedule for the day and that you check in on each appointment. If you are hosting an open house, make sure you have a registry book for clients to sign in. See if you can also include the client’s car description. Tell the client it is just in case they get a parking ticket and you want to document the reason for parking there or some other reason.

 

Many of these points may already in practice for the profession. Look to these procedures as also a safety concern. These safety tips should become second nature with little thought to be truly effective. Being an agent means sometimes you will work alone. With today’s cell phones and e-mail capabilities and some careful thought, you will be safer and will be in contact with help quicker.

Title: 

A Beginner's Guide to Real Estate Investing Strategies

Word Count:

415

Summary:

What's the difference between income and investment property? If you're thinking about investing in real estate to make money, you need to first determine your financial goals. Do you need to make money quickly, invest for your children's college fund, or build wealth for your retirement?

keywords: #Real_estate_appraiser, #Dallas, #Tarrant, #Johnson, #Dallas, #home_appraiser, #home_appraisal, #Property_appraiser, #home_value, #real_estate_appraisal, #Appraisal, #Appraiser, #Home_size, #casa, #Arlington_Tx, #Mansfield_Tx, #foreclosure, #property, #Home, #House, #Real_Estate, #Measure, #house_size, #DFW, #square_footage #what_is_my_house_size, #Stage, #staging, #Refinance, #value, #For_sale_By_Owner

Article Body:

If you're thinking about investing in real estate to make money, you need to first determine your financial goals. Do you need to make money quickly, invest for your children's college fund, or build wealth for your retirement? Once you determine your financial goals, you need to decide which type of investing strategy works for you.

Make Money in Real Estate - Fast Cash Strategy

If you're low on cash, get started by finding a bargain house and selling the contract to another real estate investor. Join a real estate investing club to find investors willing to pay you for finding good deals. 

Make Money in Real Estate - Income Property Strategy

If you want to increase your monthly income, look for income property that returns a positive net income from month to month. Start with single family house. Look for a bargain below market value. Fix up the house to generate top rental income. Find houses that will rent for more than your mortgage payment. You may need to go out from your home area to a location that supports this type of return on your money. You can't pay $300,000 for a home with a mortgage of $1,500 that only rents for $1,000. You might start with a home for around $300,000 that rents for $1,750. You will need good credit to get a loan with good interest rates. In a few years, your rental income should go up. Many real estate investors enjoy thousands of dollars each month generated by income property.

However, some investors don't like dealing with tenants and prefer to make money in other real estate ventures.

Make Money in Real Estate - Investment Property Strategy

If you want to make money focusing on profits, investment property offers a different strategy. Instead of worrying about rental income, look for property that you can transform and sell or property that will appreciate significantly over time. Besides fixing a house up, you can transform a property by changing it. For instance, some investors buy apartment buildings and turn them into condominiums. Many investors speculate in land and make money by holding the land until new development in the area increases the value.

Examine your financial situation along with your long term goals. You can get started by flipping properties, move onto income properties, and then make larger profits with investment properties. You might end up using a combination of all three strategies to make money investing in real estate.

Copyright � Jeanette J. Fisher

Title: 

A New Approach to Suburban Home Marketing

Word Count:

375

Summary:

The American dream is changing, and real estate professionals are doing their best to keep up in order to sell homes. Many buyers still want a big house in an uncrowded neighborhood, especially if they have a family, but there are conditions attached now.

keywords: #Real_estate_appraiser, #Dallas, #Tarrant, #Johnson, #Dallas, #home_appraiser, #home_appraisal, #Property_appraiser, #home_value, #real_estate_appraisal, #Appraisal, #Appraiser, #Home_size, #casa, #Arlington_Tx, #Mansfield_Tx, #foreclosure, #property, #Home, #House, #Real_Estate, #Measure, #house_size, #DFW, #square_footage #what_is_my_house_size, #Stage, #staging, #Refinance, #value, #For_sale_By_Owner

Article Body:

The American dream is changing, and real estate professionals are doing their best to keep up in order to sell homes. Many buyers still want a big house in an uncrowded neighborhood, especially if they have a family, but there are conditions attached now. Long commutes into the city are more of a deal breaker now than ever before, and areas without a nearby business community, parks infrastructure, or future-proof layout are generating less interest. Realtors working in the suburbs must now learn to identify and market smart growth, and a well-rounded lifestyle, as well as the old ideals of comfort and privacy.

Soaring gas prices have made the suburban commute a tough sell, but rail lines are a cheap solution in many metro areas. Cities with long-established commuter rails have upgraded their routes to accommodate growth, while cities that expanded rapidly during the mid-20th century are building new commuter lines. One example of a large center with a newer commuter line is Vancouver, BC, Canada, where an extensive line called the West Coast Express opened in 1995. An area like suburban New Jersey offers well-established commuter railways, but here too the traditional routes are augmented by new routes, such as the Morristown Line which runs 40 miles between Hoboken and Hackettstown. Real estate agents who know the rail routes in their area, and stay on top of development plans, can help more buyers find a suburban home suited to their needs.

The high-tech bio-tech industries have brought another marketing angle to the suburban home market in recent years. Many companies in these rapidly expanding sectors operate at the outskirts of large metro areas, where they can develop large campuses and research facilities employing thousands. High-tech and bio-tech professionals can live in low-density neighborhoods, and avoid a lengthy commute altogether, if they find a home near their campus. Realtors sensitive to the high-tech market will find these home searches easy to accommodate.

Other new marketing angles for suburban real estate can include high quality school districts, parks systems, improved inter-municipal planning, outdoor shopping plazas, cheaper home prices, and a larger new home inventory. Knowing what makes these areas attractive to buyers will help real estate professionals close more deals, and promote smart growth where they live.

Title: 

Where Real Estate Investing and Speculation Collide

Word Count:

865

Summary:

Investing vs. Speculation is a collision of epic proportions!  What's the difference? Lots. Read on.  The difference can be the difference between big money and big trouble!

keywords: #Real_estate_appraiser, #Dallas, #Tarrant, #Johnson, #Dallas, #home_appraiser, #home_appraisal, #Property_appraiser, #home_value, #real_estate_appraisal, #Appraisal, #Appraiser, #Home_size, #casa, #Arlington_Tx, #Mansfield_Tx, #foreclosure, #property, #Home, #House, #Real_Estate, #Measure, #house_size, #DFW, #square_footage #what_is_my_house_size, #Stage, #staging, #Refinance, #value, #For_sale_By_Owner

Article Body:

Some uninformed folks would describe someone who rehabs distressed property as a "speculator" or even a "property speculator." Don't be fooled! There is a VAST CHASM of difference between rehabbing and property speculation.

Let me explain. According to Dictionary.com, the definition of speculation where business is concerned is:

     "Engagement in risky business transactions on the _chance_ of quick or considerable profit."

     "A commercial or financial transaction involving speculation."

While all investing...in anything... has some element of risk to it, I want to highlight a key difference between speculation and investment. When you speculate, risk is higher and by the nature of the word speculation, more risk than usual is implied. 

So, in that context speculation doesn't fit what I advocate at all. I'll explain further, but first let me illustrate the difference between investment and speculation in real estate rehabber terms from something that happened to me just this week.

I got a call; a "hot" lead from my wholesaler. The property was located on the fringes of a hot area of my town called Riverside. Riverside is an area where historic homes are being bought at inflated prices and fixed up very nicely! Put simply, properties in Riverside at in demand.  Well, that's in the heart of Riverside, but this house was on the distant edge of that part of town. 

The house was 934 square feet. Great area, yadda yadda. My wholesaler needs $81,900 and he was the house's "repaired value" will come in at around $120,000. He continually repeated something he heard from an appraiser about values "around" Riverside being a great investment over the coming years. 

I agreed to go and take a look. Before I did, I do some of my own checking. From the tax records available online, I learned that the house was built in 1942, just changed hands last year for $72,000 and was of wood construction with asbestos shingling on the outside. 

It didn't look good when I looked at the numbers. IF...and in my mind a big if...the appraisal came back at $120,000, then the 70% I can get a hard-money mortgage for is $84,000. So, my mortgage would only cover a portion of my closing costs, but none of the rehab. In addition, a few months ago, I bought a property a few blocks away for $38,000.  I'm just not seeing the value in this property BEFORE I look at it. 

When I looked at the property, it had some things going for it. It looked to be in pretty good shape and was on a corner lot. In truth, it needed $10-12K rehab. One negative is that it was square and there is no porch under the roofline to easily add square footage for increased value. The neighborhood is fair but two things jumped out at me:

  - There is a couple of very old apartment buildings on the street. Normally this would not bother me in the least, but these will prevent the yuppie crowd from rushing into the area in a buying frenzy.

  - Every other house within sight was also very small and of similar construction. This means the houses on this street are not the architectural gems in the historic and sought-after areas of Riverside. 

If the money situation would have been better, that is to say, if this was a better investment, I would buy, Buy BUY! If the spread allowed me to buy and rehab it with little or none of my own money, I would have. 

But, if I bought this house and rehabbed it with considerable out-of-pocket investment, I would be speculating on the area, and I had my doubts. 

Of course I didn't buy it, but if I had, that would be speculating!

So, how would I define speculating?

  - Speculating involves taking on more than usual risk.

  - Speculating involve banking on values that aren't there today, and aren't projected to be there based on NORMAL conservative appreciation rates.

  - Speculating is banking on external or environmental factors to make you money. 

     ***External and Environmental Factors (that pertain to property) are factors that are not part of the property itself such as neighborhood, infrastructure, city, the paper mill down the road, rental demand, etc. ***

What is investing, but not speculating?

  - Buying property that you are "safe" in, meaning you could rehab it and sell it in the short term and make money. 

  - Buying property that will make you money based on what you bought it for, current environmental factors, and conservative appreciation rates.

  - Buying property such that hope is not part of the strategy! 

One of the key factors in STAYING a successful real estate investor is strict adherence to your investment strategy and criteria which are tied closely to your investment goals.  

A good real estate investor does what works over and over again and does not take on more and more risk as they go.  Smart investors only ventures into other, uncharted investment areas (e.g., single family homes to commercial property) after careful investigation.  

I think I can safely speculate that the most successful real estate investors incrementally decrease their risk as they gain experience.  Not the other way around.

Title: 

Where Do Real Estate Investors Find Great Buys on Property?

Word Count:

545

Summary:

Finding investment property with deferred work owned by a motivated investor (don't wanter).

keywords: #Real_estate_appraiser, #Dallas, #Tarrant, #Johnson, #Dallas, #home_appraiser, #home_appraisal, #Property_appraiser, #home_value, #real_estate_appraisal, #Appraisal, #Appraiser, #Home_size, #casa, #Arlington_Tx, #Mansfield_Tx, #foreclosure, #property, #Home, #House, #Real_Estate, #Measure, #house_size, #DFW, #square_footage #what_is_my_house_size, #Stage, #staging, #Refinance, #value, #For_sale_By_Owner

Article Body:

Copyright 2006 National Real Estate Network LLC

The answer in one word is: UGLY. You need to have a motivated seller (DONíT WANTER) and property that is ugly. Great buys in real estate are in rough condition. I can count the nice properties on one hand that I got great buys in over the years. I am talking about thousands of properties. So if you have not guessed it yet, if you get in this business you are going to need to be in the rehabilitation of property business. What do I mean by ugly:

a. Weeds two feet high in the yard

b. Gutters hanging down from the house

c. Holes in the roof are good

d. Maintenance neglected

e. Out dated kitchens, shag carpet, unpainted walls for 10-20 years

Some of examples of a great buy:

a. ‘Keep cool indoor pool’. I bought a house in Pontiac once such that when you walked in the front door, the paint was pealing from the walls. The house was full of moisture. When you got to the top of stairs to basement, you ran into crystal clear water. The water was to the top step. Someone had stopped up the floor drains and broken a water pipe. Water was running out of the basement windows. I had no competition on buying this house. We called the water department and had the water turned off at the street. We had the house dried out and got a great buy. The point is that there was little competition to buy this home. They could not see past the water coming out of basement windows. This was a foreclosed property and the bank was a motivated seller.

b. ‘A little smell’ I purchased a house where the owner had a dump truck load of sand poured into the basement. The sand was for a permanent litter box for her 25 cats. I had to take my clothes off in the garage when I got home. Again, I had no competition on the buy. The rehab on this house was labor intense.

c. ‘Moving walls’ In this house, you opened the door and roaches fall on you or better said, ‘the walls move’. Again, the competition fell away- this required an exterminator and all was well.

d. Also look for backed up sewers, fleas, houses full of trash, as things to look for when looking for a great buys.

This business requires hard work but the rewards can be great. The majority of properties that people donate to charities meet the above conditions. There are great buys in real estate but it requires investors with a talent to restore the homes to a classic condition. Restoring homes, and putting them back in great shape, is for me, part of a process of fulfilling the American dream for homeowners and is what I love most about this business. The investors who look and see fully restored homes instead of the above are ones that get the great buys on homes they otherwise could not afford. If you are new investor, I recommend you focus on the lighter rehabs, paint and carpet changes for example. Some of the examples above were light rehabs they just had obstacles that others could not see past.

Title: 

Where Can I Buy Homes For As Little As $10,000?

Word Count:

363

Summary:

Detroit, Cleveland, West Chicago...? Since the volume of seized properties has risen, the banks or the government feel the burden of maintenance and resources needed to keep them secure, not to mention the enormous amount of capital involved, they try to recover some of the money by conducting government real estate auctions.

keywords: #Real_estate_appraiser, #Dallas, #Tarrant, #Johnson, #Dallas, #home_appraiser, #home_appraisal, #Property_appraiser, #home_value, #real_estate_appraisal, #Appraisal, #Appraiser, #Home_size, #casa, #Arlington_Tx, #Mansfield_Tx, #foreclosure, #property, #Home, #House, #Real_Estate, #Measure, #house_size, #DFW, #square_footage #what_is_my_house_size, #Stage, #staging, #Refinance, #value, #For_sale_By_Owner

Article Body:

The last couple of years have seen a spurt in attendance at government real estate auctions. The concept of buying bank or government seized real estate from these auctions has gained popularity due to the realization that many kinds of real estate including family homes, multiple unit houses, apartments, townhouses, commercial properties, land and vacation homes at very high discounts. Buying from these auctions can take off almost 80-90% of the market value.

A seized property is a property which has been repossessed by the lender (could be a bank) since the owners defaulted on mortgage payments. This process is also called foreclosure. In addition to this, home or property may be seized by the government due to criminal activities or for evasion of taxes. It is difficult to believe but, properties seized annually are a few hundred thousand.

Since the volume of seized properties has risen, the banks or the government feel the burden of maintenance and resources needed to keep them secure, not to mention the enormous amount of capital involved, they try to recover some of the money by conducting government real estate auctions. This facilitates the bidders to purchase a property of their choice well below the market prices and some time up to 90% discounts on the market value.

Owing to limited publicity, the attendance at these government real estate auctions is on the lower side. Since the banks and government are trying to recover money, they are not willing to spend on publicizing and advertising these auctions. As a token, they only give a small advertisement in the local newspaper. This works out to be a great advantage to the bidders who attend since they would not have much competition to bid against and the prices will remain low as a result.

However, the year 2004 saw more publicity being attributed to these auctions on the internet. Seized property listings are now available and updated on a daily basis for members of certain websites. The details offered have descriptions, and photographs of the properties coming under the hammer.

Provided you do your homework and research well, there is no reason you can not buy a house for as little as $10,000.