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NEW YORK (CNNMoney.com) — Short sales are the hottest thing going in the distressed-property market, and the trend is expected to get even hotter in coming weeks, when the government starts handing out cash to encourage lenders to close these deals.

“Banks have ramped up short sale approvals,” said Duane Legate of House Buyer Network, which connects short sellers with buyers. “They’re hiring a lot of the people who once worked in the mortgage-lending industry and moved them over to short sales.”

These transactions, where lenders allow homeowners to sell their houses for less than they owe, accounted for 17% of all residential real estate sales in February, up from nearly 13% in November, according to a monthly real estate market survey by Campbell/Inside Mortgage Finance.

And Bank of America (BAC, Fortune 500), the country’s largest mortgage servicer, has more than doubled the number of short sales it processed in recent months.

Elizabeth Weintraub, a Sacramento, Calif.-area real estate agent who handles many short sales, was amazed at how quickly a recent deal went through. “Bank of America approved it in 24 days,” she said. “That flipped me out.”

This is a huge change from even just six months ago when the short-sale market was stalled and most people would describe the process has real estate hell. Because lenders stand to lose so much on these transactions, they have been reluctant to make short sales happen, often waiting months before getting back to potential buyers.

Beware: You lost your house but still have to pay

“In the past, many short sales would never come to fruition and the ones that did averaged over half a year to complete,” said Chris Saitta, CEO of Equator, which produces short sale software.

“Things would just fall into a black hole and not come out again,” added Weintraub.

And even when banks did agree to the sale, the process could be further complicated if the original owner had a second mortgage.

In most cases, the first lender is repaid in full before any money flows to a second-lein holder. And because most distressed borrowers are severely underwater, there’s usually nothing left to send on. As a result, second-lein holders are left holding the bag and have been killing many deals.

But that has been changing. For one thing, banks realize that they make out far better financially with a short sale than a foreclosure. “The lenders lose 50% on a foreclosure and only 30% on a short sale,” said Glenn Kelman, founder of the real estate Web site Redfin. “And short sales offer a way to get distressed properties off their books quickly.”

And on April 5, lenders and mortgage investors will have even more incentives to offer troubled borrowers short sales instead of foreclosing.

Under the new Home Affordable Foreclosure Alternatives program, borrowers will earn a $3,000 “relocation incentive” and servicers will get $1,500 for handling a short sale.

The investors who actually own the mortgage notes will get $2,000 in exchange for sharing proceeds of the short sales with any second-lien holders. And, finally, those second lien holders will receive up to $6,000 for releasing their claims.

Lenders participating in the program must also determine the market values of properties early on and inform the owners of just what price they’re willing to accept. Then, if owners come back to the lenders with bonafide offers, they have to be accepted within 10 days.

Equator’s Saiita anticipates a short sale explosion in response to the new program. “The challenge will be handling all the volume,” he said.

The company has already tweaked its software, which 58 servicers use, to handle the new HAFA rules. And that should help reduce the time it takes to execute a sale, which currently averages 88 days.

The boom in short sales may accelerate the end to the foreclosure crisis by cleaning out the overhang of borrowers in distress and replacing them with more stable homeowners.

Plus, these sales are better for distressed borrowers because their credit scores suffer less. Going through a foreclosure can knock 200 points off a FICO score, twice as much as the penalty for a short sale

Funds for a Handyman-Special and Fixer Uppers

Many times one of the best ways for a person to become a homeowner is to buy a fixer upper. A new buyer trying to get their first home often can get a great deal on a fixer upper, however often the purchase of a house that needs repairs is often a catch-22 situation, because the bank usually will not lend the money to buy a house until the repairs are made. Of course the repairs can’t be made (at least they should not be made by the buyer) until the house has been purchased.

Did you know that HUD has a program, called the HUD 203(k) that can help you overcome this obstacle by enabling you to purchase or refinance a property plus the cost of making the repairs and improvements in one mortgage. The FHA-insured 203(k) loan is provided through many of the leading lenders nationwide and is available to any individual who is looking to occupy the home.

The down payment requirement for an owner-occupant is typically 3.5% of the purchase price and repair cost for the property.

There are few key steps to follow when using a 203(k) loan:

·         Locate a fixer-upper and execute a sales contract, of course you should do this with a real estate professional. The contract should state that the buyer is seeking a 203(k) loan and that the contract is contingent on loan approval based on additional required repairs by the FHA or the lender.

·         The homebuyer next selects a FHA-approved 203(k) lender and arranges for a detailed proposal showing the scope of work to be completed, including a detailed cost estimate on each repair or improvement of the project.

·         An appraisal is then performed to determine the value of the property after renovation (ARV)

·         Borrower then passes the lenders credit worthiness test, and the loan is closed in an amount to purchase the house and perform all repairs listed in the repair cost. The loan will also include the allowed amount of closing cost as well as a contingency reserve of 10% to 20% of the total remodeling cost and is used to cover any extra work not included in the original proposal.

·         At closing the seller is paid off and the remaining amount of funds are placed into an escrow account to pay for the repairs and improvements during the rehab period.

·         Mortgage payments begin after the loan closes. The buyer can opt to have up to 6 months of mortgage payments placed into the cost of the rehab if the property is not going to be occupied during the construction / repair period. However they cannot exceed the length of time it is estimated to complete the rehab.

·         Escrowed funds are released to the contractor during construction through a series of draw request for completed work. To ensure completion of the job, 10% of each draw is held back, this money is paid after the lender determines there will be no liens on the property.

Where Amazing Happens

Here are some common mistakes to avoid

There is no doubt that when you turn on HGTV, A&E or any of the other channels that follow “flippers” they make it look so easy. Investors of all levels from first timers to seasoned vets buy run-down houses, fix them up and sell them for huge profits. The term flipping has been coined for this process and make no mistake about it… many millionaires were created doing this especially during the recently passed real estate boom.  So yes it can be lucrative and contrary to many stories out there now it is still lucrative WHEN DONE CORRECTLY! Go in blind and hopefully the only thing you lose is the shirt on your back.

We sat down with several other seasoned “flippers” and came up with some of the most common mistakes made by novice investors and decided to share that list with you in hopes that you are able to avoid them on your flipping endeavors.

Not knowing enough about the market:  The biggest mistake made… not understanding where you are buying; if you don’t know about the comparable homes in the neighborhood and what they sold for you cannot make an educated decision on whether the investment property you are considering buying is a solid deal. If you don’t buy at the right price you have a much harder time making a decent profit.  Another important detail many investors over look when accessing the neighborhood is the days on market. How long are properties taking to sell? Until it sells it’s your expense and each day lessens your profit.

Over-improving the property:   Yes, there is little debate that if you update the kitchen and bathrooms you are generally going to increase value. However you can quickly get in over your head especially when you start making structural changes to the property or putting upgrades that do not fit the neighborhood demographics.  Typically paint, new carpet and cosmetic updates to the kitchen and bathrooms may be all you need to make a profit. Keep in mind if you improve your flip to the most expensive home in the neighborhood you may have a problem selling it.

Decorating to your tastes instead of buyer’s tastes:  I love bold colors and contemporary decorating but the safest choices to make when trying to appeal to mass amounts of buyers is to stay neutral. One our first flip I remember spending much money on little “designer” touches that; while they looked good they did not add to our bottom line profit, in actuality they took away from it. Needless to say they were left out of every flip after that one.

Under-Budgeting:  Golden Rule… Over estimate the cost on everything! It’s better to come in high and have money left over from your repair budget than to come in low and searching for additional money. Oh yeah and by the way when you under estimate you also give yourself a “false” profit, be upfront with yourself and when you come in under your budget you’ll have a bonus to your end profit! By the way while we are talking about budget here, do not forget to spend some of your budget on curb appeal. I cannot stress to you how big curb appeal is. If the inside is beautiful but the outside still looks like the Sahara desert you not going to get folks in the front door!

Indecision aka no exit strategy:  Here is a cold harsh fact… If you don’t know what you want to do with a property as soon as you close your deal, or you dare go into it without having contractors already lined up, you are wasting your time!, and with flipping…TIME IS MONEY.

There are many reasons to going with a lease-option or lease-to-own deal when trying to become a homeowner. If you been turned down by banks or just don’t have the crazy amounts of cash they want you to use for a down payment, plus closing costs then lease options are an amazingly great alternative to get you to homeownership.

Another great benefit of lease options are you get to check out the neighborhood and occupy the home before you decide to buy it. And when you go with ASG Investments’, award winning Lease Option Program you have significant advantages given to you such as down payment and closing cost assistance. 

SO WHAT IS A LEASE OPTION or LEASE-TO-OWN AGREEMENT?

A lease-option agreement is both a lease that allows you to occupy a home as well as an option that allows you to purchase the home in the future at an agreed upon price.  Our program typically provides for 12-month, 24-month, and 36-month time frames and we work with you to get you ready to purchase that home when the time comes.

One of the great ways we get you ready for owning your home is through our MPC initiation (Monthly Payment Credit) where we take a specified amount of your monthly rental payment and apply it directly to your down payment. For example let’s say the monthly payment is $1800.00 with a $300.00 down payment credit (the amount is determined in your lease-option agreement) after just one year you would already have a $3,600 credit towards your down payment.

A FORMAL CONTRACT IS A MUST

Do not work with ANYONE who doesn’t want to formalize your agreement on paper; and when we say anyone we mean anyone from a family member to your best friend —get everything in writing. When you work with ASG Investments we sit down with you and go over the contract, make sure everything is clear to you and answer any questions or concerns that you may have.

With us you will always have the monthly payment, MPC (monthly credit), purchase price, expiration of option, and other contingencies like home inspections written in your contract. You will always get a copy of your paperwork for your personal records and we will always be available to you for assistance or to answer any questions; its part of the ASG commitment to YOU!

LEASE-OPTION IS NOT AN OBLIGATION TO BUY!

A lease-option should never force you to buy (hence the word OPTION) rather it is simply an opportunity to buy with the advantages of already knowing your purchase price, getting monthly down payment credit, as well as a chance to get settle into the house (kind of like a test drive of a car), interact with neighbors and neighborhood and most importantly you get time to get accustomed to the financial obligation that come with the house, like paying the utility bills and lawn care, etc.

You may wonder why you wouldn’t buy, well you may find out that you don’t like your neighbors or you may become disenchanted with the community itself, maybe your job relocates you, there are plenty of reasons as to why you may not do so. Being in a lease-option gives you the ability to quickly move on without worrying about selling a home you no longer want.

You should now have a better understanding of lease-options. So when you hear people tell you “oh there is no way you can get approved for a loan, and that’s the only way you can own a house” now YOU know better and also know that you have access to one of the industry leading lease-option programs when you work with ASG Investments!

Looking forward to helping you with you homeowner needs.

Regards,

ASG Investments, LLC

It is important to understand that what you really need to know about a house often may not be visible to your eye!

It goes without saying that no house is perfect; features that one buyer may absolutely love may send the next buyer running right back out the door. Understanding this is critical when you begin looking at homes for yourself. It’s important to know what you like, what you are looking for, what features you must have and what features you would like to have and conversely what features you can live without or are just not important to you. Here are seven tough questions you should arm yourself with and ask about each home that you look at:

Q: Has this home ever been damaged in a fire or other major disaster like a flood or earthquake? Just like a car that’s been part of a major accident, a house that has been damaged requires repairs and the quality of the home is a direct result of the quality of work done for the repairs. Some of these repairs may lie behind covered walls and you should at least understand what the house has been through. Don’t forget to ask this about other structures of the property as well like detached garages or swimming pools.

Q: Is there and HOA (Homeowner’s association), tax assessment district or any other entity?  These entities can have collect dues, charge fees, set fines, and limit what a homeowner can and cannot do with their property. You want to know if you have to deal with one of these and what the cost are. It’s another expense that you have to put into your budget. Not paying them can lead to liens placed on your property!

Q: Have you experienced any nuisances such as noise or other problems in the area or with neighbors? There are a lot of noises in a neighborhood, some people like the sound of the city some don’t, if you don’t like loud engines and you find out the neighbors kid rides motorcycles and he and his buddies frequently get together Saturday morning to work on their bikes and engines that may just be a problem for you. It’s best not only to ask this question but in addition visit the neighborhood at different times of the day and night week days and weekends so you can see it for yourself and also take note of traffic patterns during this time.

Q: Have there been any serious crimes in the neighborhood like burglaries, car thefts, or crimes against people?  Few places are completely free of crime yet some places due tend to have more crime than others. You want to know this if car thefts are common then a garage to keep your car off the streets may be very important if you want to live in that location.

Q: Have there been any renovations to the home and if so were they completed with or without a permit?  It’s true that many older homes will have experienced some upgrades and remodeling and that’s just fine. What is important to find out about these changes is where they permitted? If they don’t comply with county codes authorities can force homeowners to bring them up to code or take them down. If there were structural renovations done it’s always good to ask for a copy of the permits.

Q: Has this home been vacant or occupied by tenants and if so for how long? Occasionally a home that was occupied by a renter may not have been well kept or if it has been vacant for awhile it may have other problems. Make sure that if it has been that the owner of the property has taken responsibility for repairs and keeping the property excellent condition. Also take note of the neighborhood and see if there are many vacant homes around there.

Q: Is there any additional information that you can share with me about this house? This is a “catch-all” question that can help you to discover other facts about the home that you may not have found out otherwise.

The home buying process is one filled with many excitement moments and the more you know the better off you will be. As always you should also surround yourself with professionals that know how to get the job done, and of course that’s where we come in. We have been doing this for years and helping individuals just like you achieve the homeownership dream time and time again. The only thing stopping you from realizing this dream is… You picking up the phone and calling us at 1-888-210-6134. Don’t wait any longer, get on the path now and realize the dream!

DID YOU KNOW THE GOVERNMENT IS GIVING AWAY AN $8,000 HOUSEWARMING GIFT FOR BUYING A HOME THIS YEAR? 

We know you have been watching what’s going on with the real estate market, right? Prices and interest rates are the lowest they have been in 37 years! Are you one of the many people who want to take advantage of this opportunity to buy a home? Great! You have made a wise choice! If you are serious about buying a home, keep reading…….How long are you going to keep renting and watching yourself waste money every month? When you pay rent, there is no investment in your own future. You need to buy a home so you and your family can have an investment for the future. You need a mortgage for the tax benefits as well. The government is giving you $8000 “housewarming” gift for purchasing a home this year.  Although the money can’t be used for a down payment, you can actually claim the home purchase on your 2008 taxes if you do an amendment, and therefore, you can get the money a lot sooner than you think. While YOU faithfully pay your rent every month, YOUR LANDLORD is receiving the benefits of homeownership from YOUR hard work. It’s time to invest in YOU! Don’t think you can afford a mortgage? After all, as a renter, you ARE paying a mortgage every month, just not your own. YOU need to receive the benefit of homeownership. Stop and do me a favor before you keep reading, go get a calculator, its o.k., I’ll wait………… got it? Good. Now, multiply what you pay in rent every month by 12. Example: $1650 a month in rent multiplied by 12 months in a year. What did you get? $18,000, $20,000, $30,000 or more? You didn’t pass out did you? Your answer is the amount of money you have given your landlord for his/her mortgage this year; I thought you said you didn’t have any money. Now you see why you don’t. Now, one more task, take the amount in rent you have paid this year and multiply that number by the number of years you have been renting that house. Example: $1650 a month x 12 months = $19,800 a year in rent. $19,800 x 4 years living in your rental= $79,200. That’s enough to pay for a small condo! Do you see what we’re getting at now? You can afford to buy a home; you just need to apply your money differently. THIS MONEY NEEDS TO BE GOING IN YOUR POCKET! Now is the best time to buy, prices are low and so are interest rates. As you know, the lower the interest rate, the lower the monthly payment! Get in now before the spring boom! O.k., so now we know how important it is to buy and we know now is a good time. Now we have to figure out HOW to buy, it’s easy, keep reading……….AS LONG AS YOU HAVE A JOB, YOU CAN BUY A HOME, THAT’S ALL YOU NEED, WE WILL TAKE CARE OF THE REST! Please don’t waste your tax return this year. Remember last year? The shoes, trips, cars….. What have they done for you lately? What investment did those items give you? This year, invest you tax return. Save it to help save the money you need to buy a home! O.k. now that we have the financial part of buying a home out of the way. Here are our 5 simple steps to buying a home. Trust me, it’s easer that in sounds.

STEP 1: Get qualified to buy a home. This means talking to a lender to see if your credit and income are sufficient to buy a home. It may seem backwards to shop for a mortgage before you shop for the house, but there are several reasons for doing this. First, you’ll find our how much you can borrow, which has a lot to do with how much house you can buy. If you have a credit union or bank you trust, start there. If not, we can refer a lender to you. If your credit is bad, don’t worry, we have a credit repair department to fix that. Once you are approved, you will get a form called a Pre-approval letter. This letter is very important, you need this letter so you can start looking at homes and so you will be taken seriously when you offer to purchase one of our homes.

STEP 2:  Come up with a down payment; without a down payment, you don’t own even a piece of the house. The bank owns the whole thing.

STEP 3:  Start house shopping! Make a list of what you want and need in a home. Also keep in mind your plans for the home. Example: Is this a starter home or a home I plan to stay in for several years?  We have lists of homes for sale that we can show you. I’m sure we can find the right home for you!

STEP 4: CLOSING DAY! You have done steps 1-3 and now it’s time for your reward! You are now a homeowner! Closing day consists of you and our team coming together to sign the papers to sign the home over to you.

STEP 5:  YOU GET THE KEYS.  It’s all over. The home is yours. CONGRATULATIONS!!!!!!!!!!!!!!! So, now we’ve covered all the basics for you, all you have to do is call to get started. Don’t wait on the side lines while everyone else is buying a home. Buy now while you still have the power! Take a look at what we have available and some of the most recent homes our clients have purchased @ http://www.asginvestments.com.

 And remember, SAVE, SAVE, SAVE! CALL 1-888-210-6134 TODAY!

Buying a home is the one of the largest investments most people will make in their life. There are many emotions and feelings that come into play when it’s time to make this decision from excitement to anxiety, fear and nervousness. Therefore there are a few things you need to make sure you are aware of to make this process as smooth as possible and make the overall experience a memorable one. Use our list of commonly made housing mistakes to avoid any regrets.

1. Doing it alone – Buying a home is a complex transaction involving many complex pieces such as the sales contract, inspection, title search, insurance, escrow, etc. This is not a journey that anyone should ever take alone regardless if this is your first home or your fifth home. Form your dependable team of family, friends and professionals, while the ultimate decision will remain with you it is good to get the opinion and advice of those you respect.
2. Buying at first sight – You may walk into a property and fall in love with it at first site and are 100% positive that this is the one. Don’t make that decision to quickly, make a list of your family needs, budget, and family wants then make sure that the house can accommodate these needs. You may have to sacrifice some things to get others but it should overall fit you and your family. Don’t forget to check out the neighborhood and the community before you buy, visit at different times of the day and the week to learn about noise, traffic problems and patterns. Regardless if you have kids or not check out the schools they play a huge part in your resale value.
3. Not getting pre-qualified and pre-approved – Being pre-qualified gives you a sense of how much you can afford if you are doing traditional lending. Being pre-approved means a lender has verified your information and will provide you with financing for a specific amount of money.
4. Overbuying – You may qualify for more, but can you afford to. You must take into account all your other expenses. Analyze your monthly obligations like debt, food, transportation, entertainment, savings, and miscellaneous and emergency.  The general rule used is to try and keep your mortgage payment to about 36% of your income before taxes. Don’t forget that you need to budget money for closing cost (typically 2% - 5% of your homes purchase price), plus moving expenses, decorating and maintenance. You should also allow for increase in bills like utilities and taxes.
5. Misplacing your trust – No matter how much you like the people you are working with or the fact that someone vouched for them, you must remember that this is a business transaction. Do your research as well
6. Relying on oral agreements - Make no mistake a written agreement will always trump a verbal one. No matter who you are dealing with you do not have a contract until it’s written on paper.
7. Skipping the fine print – Make sure you understand everything that you are signing before you pick up the pen. Take time to read the documents and ask questions. Always get copies of your mortgage papers.
8. Forgetting or betting on resale – Avoid buying a home that cost 50% more than neighboring homes and think buying the most expensive home on the block is a cool thing. This is not a good thing the lower home values affects your value and remember markets change.  It is important to buy your home at the correct home value.
9. Making an unconditional offer – Protect yourself from taking a house as is. You should always want to get a home inspection done on your home regardless if it is brand new or existing. Make sure that you can get adequate home insurance, and don’t forget that if you are doing traditional financing the lender will want an official appraisal done before they provide funds.
10. Having buyer’s remorse – Remember that no place is perfect. It’s a guarantee that you will get some surprises in your home. Don’t let these little blips spoil the entire ride and certainly don’t miss a great house trying to find the perfect house!

ASG Investments certainly loves working with home buyers to make this process as simple and smooth as possible. We have a large selection of homes to choose from and our staff is highly trained and experienced with working with first time home buyers to experienced home shoppers.

We have many financing options to choose from and we are sure we have one that can get you into a home today. Don’t wait any longer, the time is right now to buy call us 1-888-210-6134 or email us at Info@asginvestments.com

There is no doubt that deciding to buy a home is one of the biggest decisions a person is going to make in their life. For first time home buyers the thought of carrying such a large debt as a mortgage can be very intimidating. Why pay all the money upfront when you can simply go out and rent? Well honestly there are several GREAT reasons as to why everyone should at least consider buying a home over renting.

1.       The Chance to build equity – Never mind the fact that you “OWN” the property that you are living in, but you also obtain one of the best way to build wealth and that is through equity in the home. Each monthly mortgage payment you make helps you to build equity and brings you closer to owning your home outright. Home improvements that increase the value of your property may also add to your equity. And, if property values in your area rise, your equity will rise too!

2.       Possible Appreciation - Unlike many of your other large purchases, i.e. cars, boats, motorcycles homes appreciate in value while these items depreciate. What’s even better is a well maintained home can substantially increase in value. With the right care and maintenance when you are ready to move, you will be able to profit from its higher resale price.

3.       Preferential Credit Options – Once you build up equity in your home, you will be exposed to new avenues of credit and borrowing power through home equity loans and lines of credit, and of course there is always the cash-out refinancing.  Home equity loans typically offer better interest rates than conventional unsecured loans because they are leveraged against the value of the home and provide a lower risk to the lender. Managed correctly and wisely home equity loans are valuable sources of income for major purchases like cars, vacation properties, emergencies, and home renovations. It is important to remember that these loans are secured to your home and you should never borrower more than you can comfortably handle in payment because a default on payment can lead to the lender taking possession of your home.

4.       Tax Break Benefits – You have to pay home taxes on your property and interest on your mortgage, that’s the bad news, the good news about both are they are tax deductible.  You can even borrow against your home with a home equity loan up to $100,000 and usually have it tax deducted as well.  Another great tax break you get comes when you sell you can exclude $250,000 ($500,000 if you file jointly) in capital gains. (disclaimer: check with your financial advisor for advise on your personal tax situation)

5.       Personal Control – As a home owner you have greater control of your home expenses than you do when you are renting. One example of this is being in control of your utilities, you can take steps to lower the cost of them by making your home more energy efficient. Another a nice benefit of owning is you don’t have limitations or restrictions on renovations / upgrades that you may want to do, not to mention that doing this upgrades ultimately leads to more money for you.

6.       Pride of Ownership – One of the best benefits is a non-financial one, that is when you own a home, it’s yours, you can do whatever you want to it, decorate it to your liking. Remember you own the house and the land so you can say you own a piece of this world!

So now the question is what are you waiting for? Take steps today to get your piece of the world call us now 1-888-210-6134. We have the perfect home for you and we have many ways to get you into your home today! Don’t wait while everyone else watches their dreams come true call 1-888-210-6134 or email us at Info@asginvestments.com

Because of the nature of real estate the trends that exist within it move and change much slower than other markets. Real estate trends tend to get moving in one direction for long periods of time until they reach a “Bubble” (as it’s commonly being called right now). When this inflection point is reached the balance of power changes, the other side of the table begins to realize that they are now the ones holding the cards and setting the rules. There usually are some big problems for the participants involved when these changes begin to take place, that problem… They usually don’t realize the changes are occurring. For instance in a seller’s market it usually takes a homeowner a year or two to realize and accept that the buyer is actually back in control now and that they must adapt their expectations and price to the buyers.

2006 was the height of the last seller’s bubble, where sellers were holding all the chips. The agent’s job was simple and there was no need for a marketing strategy other than list it on the MLS. Pricing the house for the realtor was really simple; look at the recent comparables and price their listing about 5% to 10% higher than the last one that sold. Then they sat back as bidding wars started and many offers came in above the already inflated asking price.  The belief was that prices were going to continue to go up and no matter what price a buyer purchased the house at it would be worth more very shortly afterwards. The laws of supply and demand are no exception here and since houses were in huge demand with little supply prices continued to increase.

This frenzy continued its course and buyers bought, and as they did the pool of qualified buyers shrank. Home prices remained inflated and a surplus of homes began to enter the market. Top this off with a shrinking pool of qualified buyers and soon sellers are forced to bring prices down. They must adjust realizing that those who could buy have already done so and there are fewer buyers on the market.

What we are currently in is without a doubt a buyer’s market; sellers are now competing with one another to get the attention of any buyer who is looking to buy a home. This causes home prices to drop, closing cost to be paid in full by seller; we have even seen cases where sellers agree to pay two months mortgage payments to us in order to off load the property. This is the time when many part-time real estate agents drop out the game, and those with experience are challenged with having sellers accept the reality that they are not going to get top dollar for their home right now.  Failure for a realtor to correctly educate their seller simply ends up wasting both parties time.

Sellers must realize in a buyer’s market getting top dollar for their property is highly unlikely, regardless of what comparable sales come in at, a buyer simply does not have to pay top dollar in this market. Even harder to accept for some sellers is if their home has some negatives such as repairs, outdated rooms, lack of curb appeal, etc they can expect offers 15% or more lower than recent comps. If a seller is stubborn in their way they will be stuck with the property, simply put there is no amount of marketing that is going to convince a buyer to overpay in a buyer’s market.

P.S. If you are a seller who really wants to sell your house don’t hesitate to call us today 1-888-210-6134.

P.S.S You can email us for more information at info@asginvestments.com

P.S.S: Buyers if you are ready to take advantage of the 2008 Housing Tax Credit and receive your $8,000.00 you need to call us today! @ 1-888-210-6134 or sign up here to get the free special report http://www.asginvestments.com/buyer-welcome.htm