All About Realestate

By Ki Gray

Marshalls are preparing to put Madoff”s mansions on the market, and victims of his ponzi scheme are hoping to cash in big time. Based on court records, the FBI is revving up to sell an estimated $30 million in real estate and property, all of which will go to his victims. The three homes on the way to market are a penthouse in Manhattan, a Montauk beach house on Long Island and a waterfront Palm Beach retreat.

Vacation property Madoff owned in C d”Azur that was seized by the feds back in March has since been sold. The chic three-bedroom Cap d”Antibes home netted $1.48 million noted the Justice Department. Funds from the sale are being held at the U.S. Marshall”s office.

Marshalls opened the doors to Madoff”s Manhattan luxury penthouse earlier in September giving the public a glimpse into the lifestyle of the previously rich rip-off artist. The two-story apartment was the location of Madoff”s confinement during his house arrest.

Four fireplaces, a baby Steinway piano, antique rugs, custom-made furniture and other fine furnishings must have made Madoff quite comfortable while carrying out his Ponzi scheme. U.S. Marshall Roland Ubaldo said that the Manhattan penthouse was the crown jewel of all Madoff”s properties seized by the government. It”s easy to see why with all the lavish decorations and furnishings.

A wraparound terrace provides a stunning view of southern Manhattan. His and her closets contain Madoff”s handmade Belgian shoes and boxes of designer clothing that are all packed away and awaiting auction. His den does not disappoint, either, with cherry paneling and a leather bull – his personal trademark.

According to court filings, the apartment was valued at $7.5 million by the FBI. One New York appraiser has his doubts about the appraisal. Miller Samuel appraiser, Jonathan Miller, said that what he”d seen of it so far would be considered fairly modest, in his opinion. He cited that it was not actually a Park Avenue duplex, which is what the press coverage had been calling it. Its address is on 64th Street and it sits a block east on the corner of Lexington.

The Montauk beach house with 3,000 square feet of living space sits on a one-and-a-half acre prime lot atop a bluff overlooking an ocean beach. It sits closer to the water”s edge than would be allowed today due to earlier more lax zoning regulations.

Feds estimate its worth at $7 million, but tax assessments indicate its value at $3.3 million. Regardless, one realtor noted that the history and high-profile of the home may cause it to sell for as much as $10 million. Purchased in 1980, the Madoffs originally only paid $250,000 for the home.

Listed under Madoff”s wife”s name, the Palm Beach hideaway is valued at $7.5 million. Featuring a pool, 8,753 square feet of living space, five-bedrooms and seven-bathrooms, the two-story home sits on a waterfront half-acre plot. Included in the property is a boat dock where Madoff parked his now-seized yacht, the Bull. It is a 55-foot fishing vessel reportedly worth $1.5 million.

Well shaded by lots of large trees and a large second-floor veranda, the house sits just down the shore from a location where Madoff lured in many of his victims, the Palm Beach Country Club.

Madoff is making amends in his not-so-luxurious jail cell and the hope is that the victims he left as carnage will be reimbursed for some of their loss and suffering.

About The Author

Ki helps buyers interested in Austin real estate http://www.escapesomewhere.com his website has a free search of the Austin MLS http://www.escapesomewhere.com/realestate_searchthemls.html along with updates on his Austin real estate blog http://www.escapesomewhere.com/austinblog/

By Kevin Aaronson

In general, there are five basic ways to acquire Orange County foreclosure homes for sale at discounted prices. All but one of them permit the buyer to pay for qualified assistance from other sources (such as a title and/or escrow company). Unfortunately, the most popular technique (buying properties at the trustee”s sales) allows no such luxury. The purchasing process at the trustee”s sale requires each buyer to make his own thorough investigation of both title and debt on the chosen property within a limited time frame.

1. Delinquent Seller
The first and simplest way to buy properties under the fair market value arises when the delinquent (not defaulted) owner is uncovered. The delinquent seller will not have made recent payments of principal, interest, taxes or insurance and/or may have reduced the value of the property through benign negligence or lack of funds. When the delinquent owner realizes that he will be unable to meet the commitments on promissory notes and trust deeds for an extended period, he may choose to sell his property even at a discounted price rather than proceed through the foreclosure process.

2. Defaulted Seller
The property owner becomes a defaulted owner when the trustee for the beneficiary records a Notice of Default. During the following three month plus three week period, a Notice of Trustee”s Sale also will be recorded and published in a local adjudicated newspaper once a week for three weeks just prior to the trustee”s sale.

3. Trustee”s Sale
Most purchasers of foreclosure homes for sale prefer to acquire their properties at the trustee”s sale. At this time, it is possible to make property purchases without being in contact with the defaulted owner or foreclosing lender.

4. REO Lender
When a trustee”s sale is held with no bidder present, the property is said to be “sold” to the foreclosing lender. The REO lender usually will sell the property rather than retain the property as part of the lender”s non-performing assets. If no one buys the property at a Trustee Sale, the mortgage holder becomes the owner of the home. These are called “REOs.” or Real Estate Owned

5. Friendly Junior Note
The fifth way to buy foreclosures is just a bit more complex but is an attractive way to acquire properties with less competition than purchasing at the trustee”s sale. If the holder of the junior loan to the foreclosing loan agrees to sell his promissory note and trust deed at a substantial discount, the purchaser of the junior loan may cure the underlying senior loans and then foreclose himself on the newly acquired junior loan.

About The Author

The Aaronson Group has over 40 years experience selling Orange County Real Estate. For more information about Orange County bank foreclosures, please visit us at http://www.previewochomes.com/bank-foreclosures.php

By Ki Gray

Mortgage Rates Fell yet again this week. The 30 year fell from 5.04 to 4.94. This marks the 5th week in a row where mortgage rates have either fallen or held steady. For the most part rates have been slowly falling. In fact this week accounts for half of the total fall in the last five weeks. So how does 4.94 look in a historical context. It is the lowest rate we have seen since May 28th. More importantly though it is lower than any rate we have seen prior to March 26, 2009 in the 40 years we have been compiling reliable data on average mortgage rates.

In addition to the 30 year rate the other major mortgage products fell as well. The 15 year fixed fell from 4.46 to 4.36. The 5 and 1 year arm fell from 4.51 to 4.42 and 4.52 to 4.49 respectively. Below are rates from the last few weeks.

Oct 01, 2009
30-yr 4.94 15-yr 4.36 5-yr ARM 4.42 1-yr ARM 4.49

Sep 24, 2009
30-yr 5.04 15-yr 4.46 5-yr ARM 4.51 1-yr ARM 4.52

Sep 17, 2009
30-yr 5.04 15-yr 4.47 5-yr ARM 4.51 1-yr ARM 4.58

Sep 10, 2009
30-yr 5.07 15-yr 4.50 5-yr ARM 4.51 1-yr ARM 4.64

Sep 03, 2009
30-yr 5.08 15-yr 4.54 5-yr ARM 4.59 1-yr ARM 4.62

Mar 05, 2009
30-yr 5.15 15-yr 4.72 5-yr ARM 5.08 1-yr ARM 4.86

So why are rates falling. The fed has been buying mortgage backed securities to keep rates low. But the expectation is that interest rates cannot stay this low forever. Historically rates are abnormally low and at some point they are going to start moving back up. One thing to watch is the government”s buying of mortgage backed securities. To stop inflation from getting out of control the fed needs to stop buying securities once the economy starts improving and recently the fed has started to pull back on the volume of mortgage securities they are purchasing.

In addition to rates its also helpful to look at actual mortgage payments to provide perspective. We translated today”s rates into a payment on a 200k mortgage. We also did the same thing with rates from September 17th and February 26th.

Oct 01
30-yr $1066.32
15-yr $1515.71
5-yr ARM $1003.88
1-yr ARM $1012.18

Sep 17
30-yr $1078.53
15-yr $1526.92
5-yr ARM $1014.55
1-yr ARM $1022.89

Feb 26
30-yr $1082.21
15-yr $1548.44
5-yr ARM $1080.98
1-yr ARM $1050.53

Looking at the 30 year rate a mortgage payment is pretty similar to 2 weeks ago and 6 months ago. A 200k mortgage 6 months ago would have been 1.46 percent less or $15.89 less a month.

So what is going to happen moving forward. I would expect rates to stay around 5 for the time being. As long as the government continues buying mortgage backed securities we should see rates at historically low levels. Once the market starts to improve rates will start to increase. If the government is careful and avoids inflation rates should likely rise to 6-8 percent. If the government loses control of inflation we could see rates move up into the double digits.

About The Author

Ki helps buyers interested in Austin real estate http://www.escapesomewhere.com his website has a free search of the Austin MLS http://www.escapesomewhere.com/realestate_searchthemls.html along with updates on his Austin real estate blog http://www.escapesomewhere.com/austinblog/

By Ranju Kumar

In most of the cities of the world, the average price of houses goes up by almost twenty percent every year. The increase in the price of the houses makes it impossible for some people to afford buying a new house. However, you can buy houses at market value through some techniques. Recently, many real estate investors are taking advantage of the bank owed properties and houses.

The use of internet has been one of the major factors that have enhanced this process. The vast number of online services that offer the foreclose listings have made it easy to find affordable homes.

What are foreclosure listings? Most of the houses are built by taking loans from the financial institutions. Because of the various financial situations, many people fail to pay back the mortgage amounts properly. When the monthly payments are not paid properly, the bank that financed the house will start the repossession processes.

They will reclaim the property. In most cases, the lender will get the possession of the houses and the aim of doing this is to recoup their money. They normally do not look forward to making huge profit. They just want to resell the property and recover the money they lost. This is the reason why most of the foreclosure houses are sold at huge discounts. These properties will suit the bargain shoppers as well as the real estate investors.

There are many foreclosure listings offered by the various agencies that include the detailed information about the numerous foreclosed properties for sale. These lists can act as a primary source of information for the ones looking to buy foreclosure houses. Foreclosure lists are of different types. This is the reason why selecting the listing must be done with great care.

Many listings are outdated and this can offer the house seekers very less help. You must go for the lists by the reputed listing companies so that you will get an up to date list of the various properties available. This updating will be done in a monthly basis.

Online listing is better: There are a lot of companies that offer foreclosure listings. These lists have many different properties for sale. Even if you are a new investor or an individual who wants to buy a bargain home, the lists can be of very good help. The database of these companies will have a long list of the houses that are for sale by the financial institutions. These lists will offer the potential buyers with all the information they would need including the property description, agent contact information and the sale price of the property.

Online foreclosure lists are of good use than the printed lists, as the online lists will be updated in regular intervals whereas the printed ones cannot be updated. You must subscribe to an online foreclosure listing from a reputed company to get all the information about the foreclosure properties across the country. Through these lists you can get single family as well as multifamily houses for very cheap rates. Register your name in a listing and make the most out of it now.

About The Author

Do you want to sell your single family home? Get the best deal at http://www.AndrewBuysHousesCash.com NOW which offers the best purchase program available for the home owner to sell their home quickly.

By Jason Loucks

Short sale investors fail for one of two reasons: either they do not know what they are doing, or they simply don”t look for the right opportunities. The most common short sale transaction is the one where you buy a property that has high equity and is over-financed, because these are the most common foreclosures. However, this is probably the worst possible type of short sale to get involved in, especially since there are so many that require little to no upfront investment. Here are some things to know about short sales.

When you get involved in a short sale, you”ll call the bank and ask them about the paperwork that you need. If you don”t sound like you know what you”re doing, they probably aren”t going to be helpful. What”s worse is that if you invest the time to fill out the paperwork and still appear clueless, they probably won”t respond. The trick is that you have to at least be able to pretend like you know what you”re doing when you call them. Learn the lingo and figure out a little about how to short sale before you get started, and you”ll get a much quicker and better response.

What is a short sale? A short sale is basically discounting the loan to something less than what the seller owes. When it comes to figuring out how to short sale in an effective manner, you need to find properties that are either under-financed or those that have second mortgages in default that you can buy for a discount. When you do this, you can often get a $160,000 home for dirt cheap (imagine $5,000 to $10,000), and make profit on the second mortgage. For example, if that mortgage was for $45,000, and you buy it for $10,000, you”ll make $35,000 once the home sells, is refinanced, or has the first mortgage modified.

The most effective way to short sale is to avoid the seller completely. Go right to the bank or the lien holder and buy the mortgage or second mortgage at a discount and don”t even bother with the seller. So many foreclosure seekers give up because they can”t find sellers for the properties that they want. You now know that you don”t need them, which gives you many more deals and opportunities than you had before. If you”re able to learn quickly and at least pretend like you know what you”re doing, short sales can be a profitable investment for you.

About The Author

For more great Foreclosure Investing secrets from Jason Loucks and a FREE CD on how you can start profiting from Foreclosures, Preforeclosures, Short Sales, and REO”s for yourself, go now to: http://www.PreforeclosureFortune.Com

By Stephen Daniels

One of the most gorgeous and peaceful areas to live in the United States is Ocala, Florida. The natives are extremely cheerful and friendly and love to welcome new folks to town. Most that live in Ocala have been there for decades – and, there is a reason why they have not left. Ocala is the perfect place to live because it has a distinct flavor of old countryside U.S.A. with a flair of modernity. One thing is for sure – when you come to Ocala, you will fall in love!

Ocala is nestled in a perfect location because it is approximately an hour”s drive to Orlando, the Gulf Coast, and the Eastern Atlantic coast of Florida. To be exact, the quaint little town is located in the county of Marion and is home to the enormously-sized national park, The Ocala National Forest. So, people who live in Ocala have the opportunity to live quietly and serenely while still being able to take short day trips to some extraordinary places. Even if you decide not to travel out of Ocala, there is plenty to do. One of the most well-known places is the gorgeous 350-acre nature theme park, Silver Springs. This place has plenty of things to do like: fishing, swimming, glass-bottom boat rides, canoeing, or wild life watching. Silver Springs is an amazing place with some rare animal species that will amaze the whole family.

In addition to all the activities that are just an arm”s reach away, the city of Ocala has many preserved historic homes in a unique and charming historic district located on East Fort King Street. The rows of preserved Victorian homes add even more charm to this already sweetheart of a southern city. And, although Ocala is considered a city, it is country living all the way. People living in Ocala value their peace and quiet and know they can find sanctity in this extraordinary city.

There is another big plus about Ocala, and that is the economy. The economical state of this great city is ideal due to its location. For one, Ocala is right smack dab in the middle of two major universities, next to a couple international airports, and near major attractions (i.e. Orlando). This optimum location makes it a great location for manufacturing. Also, the local workforce is diverse and has a wide range of skills. The local commercial businesses do well because of the moderate climate and diversity in the workforce pool. All in all, Ocala has a very strong and stable economy compared to other parts of the country.

Anyone looking for peace and tranquility will definitely find it in Ocala. And, because it is located outside of major cities, the real estate is still reasonable. Living in Ocala can be fun and exciting (because of all the things to do), but also calm, cool, and relaxing. Therefore, the city of Ocala is one of the greatest places to raise a family and settle down to a live a life of peace, harmony, and serenity!

About The Author

http://joanpletcher.com specializes in Ocala, Florida real estate for sale including homes, luxury estates, horse farms, and acreage. The Ocala/Marion County area of central Florida offers friendly people and rolling acres of horse farms. http://www.netbiz.com

By David Hitt

Multiple offers mean you priced your house right because more than one buyer is making an offer to purchase your San Fernando Valley real estate. Your San Fernando Valley Realtor will present the offers to you and explain the price, terms and contract contingencies so you can decide which offer is the best for your situation. If you are not represented by a Realtor, then you should consult with your real estate attorney.

Factors to Consider

Every seller”s motivation for selling is different so depending on your circumstances not every offer is necessarily going to work for you. This is where the expertise of your Realtor is beneficial to you. Your Realtor can help you counter out any items that you do not agree with and add any items that you want to address in the contract. Factors to consider include the following:

Price
Is the buyer paying cash or obtaining financing?
Amount of the earnest money down payment
Contract contingencies
Closing date
Buyer”s motivation. Is the buyer purchasing the home to live in or for an investment?

Once you have considered all the above factors, then you have the following choices to make:

Accept the best offer
Respond by countering to all offers at once letting each buyer know that they are in a multiple offer situation
Only respond to offers you like
Respond to one offer at a time
Do not respond to any of the offers

Advantages to Seller

The advantages of multiple offers to sellers are:

Multiple offers create an atmosphere of competition between your buyers. As a result, you may receive a higher price for your home, and you have more choices.

Why Multiple Offers Can Back Fire?

One thing to keep in mind when you have multiple offers on your San Fernando Valley real estate is that buyers do not like to get into bidding wars. Because it is a buyer”s market right now, most buyers would rather find another property than over bid for your Sherman Oaks, Encino, Van Nuys or North Hollywood real estate.
Be careful about countering too high over your asking price, unless your asking price is way below market value. Today”s savvy buyers will not over pay for the home because they are educated about San Fernando Valley home prices. Buyers recognize that there are other homes available that also meet their criteria in the Encino, Sherman Oaks, Van Nuys and North Hollywood areas.

So avoid being greedy if you receive multiple offers because it could back fire on you, and you might lose all your offers as a result of the buyers walking away. Also, you cannot expect to receive a price substantially over market value if your buyer is obtaining financing because the house will not appraise, and the buyer will not be able to get a loan to purchase your home.

In this market, the smartest strategy is to take the offer that is closest to your asking price and the home”s true market value with the best terms that work for all parties.

About The Author

David Hitt – Realtor and Training Director Coldwell Banker Sherman Oaks. David specializes in the San Fernando Valley communities of Encino, North Hollywood, Sherman Oaks & Van Nuys. He has experience with buyers & sellers. http://www.san-fernando-valley-ca-real-estate.com/van-nuys

By Kevin Aaronson

Orange County short sales are a real estate transaction option that banks will consider instead of foreclosure with specific guidelines.

It is important to have information regarding the process of foreclosure, what effects foreclosure has on a homeowner, and ways to prevent the foreclosure process from continuing. Orange County short sales can often be a viable solution to foreclosure that can save a distressed homeowner from the damaging effects foreclosure has on their credit.

I feel that it is important in todays economic conditions for homeowners to know that they have options other than the foreclosure route. Statistics show that 50% of homeowners facing this stressful situation often ignore the issue and that does not have to be. There are options such as a short sale, especially if the homeowner works with an experienced REALTOR to provide them assistance in showing the lender the hardship situation and other real estate documentation.

Here are a few common questions in regards to short sales:

I”ve missed a few mortgage payments, what will happen?
Your home may undergo the foreclosure process, but there are ways for you to prevent this from happening.

What should I do once I”m behind on my mortgage payments?
Don”t wait, get help early! By actively working to resolve the issue as soon as possible, you greatly increase your chances of avoiding the loss of your home through foreclosure. If you even see the possibility of missing a payment, contact your lender and explain your financial situation. This act of initial contact, before letters of delinquency arrive, will help your lender understand that you are facing issues that impede your payments, providing your lender an incentive to find a proper work out resolution, or to begin modifications to your loan.

What is a work out resolution?
Commonly, the term “work out” resolution is an agreement where you continue making payments on your past due amount over a period of time, or a modification to your loan to lower your interest rate, or an extension loan period that will help lower your payments.

I am in the foreclosure process, should I stay in my home or leave?
You should contact your attorney to determine the best course of action. Abandoning your property may have severe negative consequences on your qualification for assistance.

Is a Short Sale right for me?
If you add up your total monthly expenses, including your mortgage, property tax payments, insurance, car payments, utilities and food and compare that to your take-home income, how much longer can you afford to keep up with your payments? If you have an adjustable rate, and the payment is going up, how long can you afford that? Is it worth prolonging your current financial situation?-especially if home values in your area continue to decline?

How much would it cost me to sell my home in a Short Sale?
Nothing! All fees and commissions are assumed by your lender-NOT YOU. Your contract will specifically read: Seller”s agreement to sell is subject to approval by existing lender of a Short Sale at no cost to Seller Seller shall not be required to deposit funds to close escrow.

About The Author

The Aaronson Group has over 40 years of experience in selling Orange County Real Estate. For more information about Orange County Short Sale Assistance, please visit us at http://www.OCShortSaleNow.com

By john mce

Thanks to the economic downturn homes are worth much less in the UK, the property market is stalling because many people are reluctant to sell their home for less than they believe it is worth. If a house was worth five-hundred-thousand pounds two years ago then why would anyone want to settle for three-hundred-thousand?

It seems that most people are either willingly or unwillingly staying in their homes for longer, perhaps hoping that property prices will return to their heyday. Those who are trying to sell a property could find it impossible to sell at their asking price, and be forced to put it on the letting market. And as people with more than one property are waiting before taking another step in the ascension of the property ladder, a new ”reluctant landlord” is born.

The problem arises because these reluctant landlords are less likely to make improvements to a property, making it even harder to find a tenant in an already flooded rental marketplace. Estate and Lettings agents are urging landlords to make significant improvements to the home such as fitting a new kitchen and refurnishing.

Letting agents are complaining that the rental market is full of homes which are unfit to let. Redecorating, refurnishing and installing modern kitchen and bathrooms will greatly increase the chances of you being able to find an appropriate tenant. It will also increase the price of the rent you are able to charge.

But landlords do need to be careful, since there are several legal requirements to consider when furnishing a rental property. All furniture should adhere to strict fire safety regulations and should have its labels in-tact. It”s a bad idea to clutter a house with an abundance of furniture, but a few simple, versatile pieces are all most people need to live happily in a home.

Sometimes landlords might be reluctant to invest in redecorating or refurnishing a house for rent, perhaps believing that the increase in potential rent will be negated by the expenditure. But superior furnishings attract a different type of rental tenant, perhaps those who are planning on having a shorter period at the property, since they are unlikely to move their own furniture in.

Reluctant landlords need to get their act together; if you can”t sell a house then do the next best thing; let it. With so many shabby rental properties on the market, spending a few pennies on sprucing the place up could really make a significant difference to the rent you can receive.

About The Author

John Mce writes on a number of subjects including letting property and interior design. Buy To Let Furnishings assist landlords to refurbish their home.

http://www.buytolet-furnishings.co.uk/

By Phoenix Delray

If you are interested in commercial investments, the professionals across the country who are most qualified to present access to the nations highest quality inventory of properties are those with the experience, reputation, and the drive to help you be successful in your investment ventures.

Triple Net investment properties are those that are of the highest quality, and there are commercial real estate firms like NNN Properties that have a long established reputation for excellence in standards with clients. Not every firm has the ability, knowledge, or the expertise to professionally present clients with the best opportunities on the market for the best pricing, but with experience comes longevity, and with longevity comes a hard earned reputation of being the best in the business.

Commercial investment firms should be able to present approaching clients with investment options that are supported by the highest standards in property pricing and underwriting. There are many other benefits that the best companies will be able to bring to the table as well for their clients including features like competitive and aggressive market research, competitive financing options, wide selections of properties and options, and more.

The best professionals will also be able to give access to clients to the resources and support systems that are available to further enhance every deal, every opportunity, and every transaction. These features should be customized and tailored to serving investment trends and the needs of the investors. With experience in this business comes success, and with that type of success comes a valuable accumulation of extensive market knowledge that can ultimately help all investors maximize their returns on their investments.

If you are a broker or an investor, there are some steps that you can take to make sure that the commercial real estate firm that you are interested in working with has an excellent, impressive, long term track record that proves their ability to work for you successfully. The best commercial real estate firm must be focused completely on investment sales. Being responsive to the needs of investors is critically important to the success of the business and also to the relationship between the firm and the client. Be sure that you have confirmed a track record that proves excellence, and do not hesitate to ask for confirmation, testimonials, or other evidence of the companys reputation with its clients. The best companies will indeed have this type of information ready for any potential client. The firm should not only be an expert in one property type or just the property type that you are interested in, but they need to have a deep expertise for all kinds of property types as well in order to be a truly successful commercial real estate firm.

About The Author

To learn more about Glen Kunofsky Marcus & Millichap, please visit http://www.spoke.com/info/pEn2BB/GlenKunofsky.