Friday, May 30, 2008

Post 16 TONS of Bank Owned Properties at $.30 Cents on the Dollar

Bank Owned properties are coming on the market left and right at or below $.30 cents on the dollar from what they sold for two years ago. This is the time to buy an investment with the spare cash thats losing money in the stock market or real estate market. These examples below should easily cash flow $650 per month with a 10% down payment. With proper negotiations we have had success with 8-10% reductions in the listed prices from the banks.


Tuesday, May 20, 2008

Post 14 Fannie Announces New Down Payment Requirement Key to Recovery Initiative

Fannie Mae announced the new down down payment requirements under their 'Keys to Recovery' initiative. Hopefully this will help stabilize the market but it only applies to single family homes as primary residences. What about the deteriorating condo market. Is there an end in sight? Washington DC

Friday, May 16, 2008

Post 13 - Will Higher Gas Prices Cause a Market Shift in Moving Back to Cities?

Accroding to it cost an average of 52.2 cents per mile to drive a car in 2006 using $2.56 per gallon as the estimated cost for fuel. How will the recent increase in gas prices at over a 40% increase affect the real estate market?

Tuesday, May 13, 2008

Post 12 Georgia Ave Corridor

Just what is going on in Petworth, this past week the city released a solicitation for partners for the 3800 block of Georgia Ave, just two blocks to the Petworth Metro. This may just put Petworth on the map, combined with the "Great Streets Initiative" on Georgia Ave and the Curtis Chevrolet / Foulger-Pratt partnership as well as Park Place by Donatelli on the Metro. Petworth is coming up on my radar!

Thursday, May 8, 2008

One Condo Investor's Experience at Delancy Lofts: Follow-up to "The Condominium Owner's Dilemma, Sell, Rent, Foreclose"

One condo investors experience, as mentioned in the Washington Post this past Sunday in the real estate section, George Gozen has seen better days in the real estate market. This is his experience. One of his two investments was in Delancy Lofts at 1701 Kalorama in Adams Morgan.

Sunday, May 4, 2008

The Condominium Owner's Dilemma, Sell, Rent, Foreclose

Based on an article published by the Washington Post on Saturday, May 3rd, 2008, the question is 'Do owners who can't sell & have to pay a penalty for renting take foreclosure as an option?

What would you do if you had to sell but couldn't rent out your unit due to condo association regulations?

This example comes from the Delancy Lofts in Adams Morgan.