Grab Quick Profits As Real Estate Prices Soar

Real estate values rise and fall in cycles. Currentlyhome prices are nearing a top in many areas.

Skyrocketing housing prices in California are prompting nearly a quarter of the residents to seriously consider moving to areas with more affordable housing.

California had the nation's third fastest rate of home price appreciation last year, behind Nevada and Hawaii.

Prices climbed more than 18 percent compared to the previous year, 84%in the past five years and a whopping 338 percent since 1980.

Less than one in five... 19%... of the state's households can afford the median priced single-family detached home, which was $465,540 in September.

Guess what? Lots of these Californians are selling their homes for big dollars and moving to other states where they can buy a similar home for a fraction of the price.

Arizona and Nevada are prime target areas.

In those states the number of sales of homes to San Francisco Bay Area residents has risen by as much as (gulp!)6,000% percent. That huge demand forces prices up!

Here in the Phoenix area we are smack dab in the middleof a home buying frenzy. In the last three months we have put four of our rental homes on the market. Each of them sold in ONE DAY! Offers above asking price are common.

Real estate agents are tearing their hair out because theycan't find homes for their buyers. Our listings with aflat rate discount broker prompted dozens of calls from desperate Realtors.

The other side of the coin is that it's very hard tofind good renters. Anyone with the slightest record offinancial responsibility is buying a home.

If you are a cycle investor you buy near the bottom and sell near the top.

Is this the top in some areas? I can't say, but when homes areselling a few hours after being listed it would seem toindicate that we can see the top from here.

If you are in a hot area it is the perfecttime to buy and flip.

Start walking neighborhoods in the early evening and weekends. Knock on every door asking, "Are you the folks with a home for sale? Do you know of anyone who would beinterested in a fast sale?"

You will find properties! Some you may be able to sell within5 or 6 days. Racking up a profit of five grand a week is notimpossible... if you are willing to put in the work.

With buy and flip you don't have to worry whether or nota top is near. Using options just about eliminates anypossible risk. And a fast flip can be generated using the"How to Make Money In Real Estate Without Owning Property" system.

There's money to be made... if you are nimble.

About The Author - Mark Walters is a real estate investor in Arizona. He uses options in his investing program as explained here http://digbig.com/4cefc

More than 40 states signed onto a proposed $25-billion deal with major mortgage servicers over faulty foreclosure practices. New York, Nevada and Delaware joined California in holding out for better terms.

More than 40 states signed onto a proposed $25-billion settlement with major mortgage servicers over faulty foreclosure procedures, but California, New York and other key states were still not among them.

California has until Monday to share in a multi-state deal with banks to obtain mortgage relief and reforms. Atty. Gen. Kamala Harris, who walked away from talks last year, says the door remains open.

With a Monday deadline at hand, California officials have resumed direct talks with the Obama administration about joining a multibillion-dollar, multi-state mortgage settlement with the nation's largest banks, a source said Sunday.

The talk show host pays $12 million for the 4,088-square-foot house with four bedrooms and four bathrooms. The ocean-view home sits on 1.26 bluff-top acres with beach access.

In one of the more talked-about transactions in town, actors Brad Pitt and Angelina Jolie have sold their Malibu beach house to daytime host and comedian Ellen De Generes for $12 million.

The four-bedroom, five-bathroom house built in 1920 for industrialist James Wigmore lists for $2,875,000.

A decorative cast stone entrance opens to this restored Spanish Colonial Revival-style house in Pasadena's South Orange Grove area. Built in 1920 for industrialist James Wigmore, the house retains such original details as coffered wood ceilings and arched doorways.

They don't believe they can sell their property for what it's worth, so they're spending money on making their homes more comfortable.

Do you fit any of these descriptions?

A biennial research report by the National Assn. of Realtors indicates that a handful of real estate agents and brokers and their clients either don't know the law or don't care to follow it.

When it comes to lawsuits, real estate agents and brokers tangle mostly among themselves.

The president aims to help about 3.5 million people with good credit who are unable to refinance at historically low rates because their homes are worth less than their mortgages.

 

The White House hopes to help millions of homeowners lower their monthly mortgage bill with a $5 billion to $10 billion plan to set up a streamlined refinancing program for people who are current on their payments.

The Standard & Poor's/Case-Shiller index of 20 large U.S. cities fell 1.3% in November from October as foreclosures continue to drag down the housing market.

Three straight months of home-price declines in the biggest U.S. cities showed that foreclosures remain a significant drag on a housing market that is entering its fifth year of deterioration.

L.A. Clipper Chris Paul may be quick down the court, but he moves pretty fast when it comes to buying multimillion-dollar real estate too.