Aug Home Supply The August Existing Home Sales report was released Wednesday, showing a decline in the number of homes sold nationwide, and a reduction in the median sales price.  Not surprisingly, the media singled these two statistics out, playing them as a big negative.  They’re not. The...

In its last act as a semi-independent company, Fannie Mae altered mortgage guidelines for real estate investors last Friday. It was Fannie’s 22nd update this year. The first part of the guideline change limits the number of properties owned by any one person.  Fannie Mae will now decline any...

We’re glad you asked! REO stands for ‘Real Estate Owned’. Basically it is a foreclosed property NOT to be confused with Short Sale. The process of purchasing an REO is similar to a traditional transaction in many regards, however there are many points of interest to pay special attention...

It seems that there is a misunderstanding with Short Sales that pertains to the name itself. They are not short sales in regards to the time it takes to close on a purchase. Actually, they are quite long when compared to a traditional listing or foreclosure home for sale. A short sale is when a person...

One of the most exciting new provisions of the Housing and Economic Recovery Act of 2008 is the First-Time Homebuyer Tax Credit. The credit is designed to encourage first-time homebuyers to go ahead and make the leap to purchase their first homes. Combine this tax credit with the fact that home prices...

Are you a speculator or investor? Great fortunes can be made and lost in real estate. William Doom Certified Mortgage Planning Specialists and Sarah Reiter REO Professional are committed, qualified and equipped to help you implement the seven keys to profitable real estate investment: Determine Level...