Eldorado Townhome on Charbonneau Golf Course for $309,900…

And another price drop on my favorite Eldorado Townhome in Charbonneau.

Tax Value 501k.  FINALLY in a great buy zone.

We have been touring this home since it listed a year ago.

These Eldorado Townhomes were selling in the high 400s, low 500s. 

Master on the main, 2 huge bedrooms up.  This one is right off the T-blocks and angled to where only a couple of small windows are exposed to the breaks.  (get some Penguin windows and they will not break!).

 

Has been bank owned by one of the smart ones (Greenpoint Mtg.) SINCE May of 08.  Yes, please somebody step up and give that bank a bailout.

They are into it $329,410 AND THEY LISTED IT 5-30-08 FOR 410k!!!  What the heck?

 

If you are looking for a golf investment this one is it.  Hold this for a few years and resell for a mint. 

BLU dot Realty, LLC

Real Estate Investment Services 

Airika Waible

Principal Broker, E-pro

Mobile: 503-793-4336

Fax:       503-855-3792

www.bludotrealty.com  

“Because knowing when and where to invest in Real Estate makes all the difference…” 

Please click the link below…

View Report

Got a great way to monetize the $8000 Tax Credit…

when buying a home for the first time or if you have not owned in the last 3 years.  If you have filed 08 taxes and you are looking to monetize your tax credit you may be in luck.  While the FED is trying to figure out how to make banks let you borrow it and a way to pay it back when you get a refund in 2010….. just buy, and file an amended return including the home purchase.  You should then be ablt to use the credit.  Of course if you owed 7k in taxes, you would most likely get 1k in refund, but if you had a 2k refund coming, your refund could be as much as 10k!  Borrow the money from mom and dad, use your 401k or self directed IRA.  Sure, you are saving for retirement and don’t want to break the piggy bank but…if you are disciplined, replace it when you get the money.  YOU MUST BUY BEFORE DECEMBER!!! Figure out a way.  Never before have the stars been aligned like this.  Rates are the lowest they have been, home prices are way down and the credit is there.  Wait 6 more months and the credit MAY be gone, rates MAY be up, and home prices MAY stablize creating equallibrium in the market place.  That my friend will be a shame if you have the ability to get out and buy now.  If your intentions are to live in a home, or buy and hold it, you will make a huge upside.  Get some.

Bank Owned VS FHA foreclosure properties….there is a difference.

There is a big difference between bank owned properties and FHA foreclosures that you must consider if you want to make the big investment. Government owned properties are not always as good of a deal.  The best place to buy them from are the banks.  I have gotten fast responses and large discounts from offering on FHA homes, but typically they hold out for a retail buyer and ride the market down. 

The government owns a ton of properties but the ones that have foreclosed are not going to give you as good as a deal as the homes owned by the banks. The government isn’t in a hurry to get rid of owned homes they have on their books and they won’t always budge on the price. They aren’t in the red (well, really they are but when the presses that print inflationary amounts of new monies go to them first…..really, are they ever going to be in the red?) and it doesn’t matter how many homes they have on their books.  HUD homes are the worst.  I have seen them on the market for so many months, signs in some areas plague the values as they sit, and sit waiting for some “sucker” to pay them the high price, which is often higher than retail at the time.  To me that entity is very anti-investor. 

But, in most cases, I find that government homes for sale are not below the market value and they sit and will not budge. The price is not negotiable because they don’t have to lower their price and they can wait as long as they need to in order for the home to sell. When you want to invest in this type of distressed home there is a big difference in the process and the price. There is no benefit for an investor when you look at purchasing from the government in most instances.  This I find funny, almost contradictory in a way.  The market has proven there are not enough retail buyers in the market place, we need the help of private capital, but we must motivate them from the sidelines.  Rather than tell the news and public the FED wants private capital to return, they must actually allow it to occur naturally.  Telling the media one thing while creating hurdles too high is a waste and a farce. 

Banks are the best option when you want to invest in cheap properties. This is because a bank owned property makes a bank look bad and they don’t want them. The banks want the money. The banks need to unload a foreclosure as quickly as possible. The more homes that they have on their books the harder it is for them to give more money to potential home buyers to buy another home. This is because of the risk.  Banks often tighten their purse strings and make the stipulations for qualifying for a home loan more difficult when they have a lot of bank owned properties on file.  I track the behaviors of banks by name, and the behavior of the agents that list their properties and I can also say that there are some names that act worse than FED owned.  This pricing structure is all over the board.  There are agents that price 50k over what the bank is owed, only to ride the market for 4-9 mos to recover less than the debt.  What is this type of gambling?  Since when does a bank get to flood our market with their junk inventory, then over price it to make a profit?  That is where it comes in handy knowing what bank and agent to this.  We filter every one of those into a time penalty box, track them, watch the price drops, frequency and even dates they drop.  When they are ready we send a signal it is time to our investors.   Find the right broker, find the right banks and you will find real estate profits.

Banks will negotiate with you. They will lower the price and they will make a counter offer if you come in too low. They will meet demands and work with you on the speed of the process and much more.  FHA foreclosures are a waste of time in most cases.

Rick Waible has been studying Portland, Or. bank and listing behavior in this current market for over 16 mos.  As a researcher of bank owned property, you will benefit locally by some of the studies.  For great property searches and info go to www.bludotrealty.com and search.

Wholesale Buyer and Investor Workshop filling up fast!

Hey Gang, I am proud to announce our 3rd FREE event!

THIS IS THE BIG ONE!

Wholesale Buyer and Savvy Investor Workshop

 

Saturday

May 23, 2009 ~ 9:30 AM

 

Speakers:

Market Study and Hometrack Search by: Gordon Root, Root Holdings, LLC

Property Showcase by Blu dot Realty, LLC

    Financing Options for Foreclosures and Fixers Michael Eiden, Mortgage Express

 

 

What Savvy Buyers and Investors want to know About:

The current market trends-

Where to find Foreclosure and Bank Owned Properties

Where to find fixers and wholesale property

Tracking foreclosures that you can actually buy… 

And a property showcase of some of the best deals out there today!

These Topics and Others Will be Covered

And, We have no books, tapes, mentorship or software to sell!!!

Portland Home Builders Association

15555 SW Bangy Rd,

Lake Oswego, Or 97035

 

To Register go to www.wholesalebuyerworkshop.com

 

 

  BLU dot Realty, LLC Real Estate Investment Services   Rick Waible Syndication Mobile: 503-572-2638 Fax:      503-266-9494 www.bludotrealty.com      “Because knowing when and where to invest in Real Estate makes all the difference…”

Bank Owned in Wilsonville with 65k to 110k equity !!!

In this weeks Showcase of homes at our Wholesale Buyer Workshop we will be featuring a home in Wilsonville

The home has $65,000.00 to $120,000 in equity depending on your exit strategy.

Buy, repair, and resell or keep as an investment or your presonal home. 

Address is 29898 SW Camelot St, Wilsonville.

Already amazing price      $300,900

Square Feet                                       2,118   

Year built                                           1990

Bedrooms                                           3

Bathrooms                                         2.5

Garage                                                  2

Lot size                                           7,660sf 

Taxes Yr.                                        $4261

Condition:                          Move in ready. Needs general clean up. Interior paint and minor sheet rock repair, and the carpets should be looked at clean/replace.

Fix up cost:                        Between $3,000 to $8,000 depending on taste and improvements.

We use personal software called Propstream to research most of our properties and comps, then validate through RMLS with our Blu dot Realty Brokers.

We also use online Valuations that are available for you to research on your own. 

The property is Tax Assessed at a value of                                 $419,096

 To make an appointment to view or to make an offer contact a Blu dot Realty Broker

Airia Waible

503-793-4336

rikaw@comcast.net

www.bludotrealty.com

Real estate value web site Eppraisal shows a value of        $365,845  

 

Real estate value web site Zillow shows a value of                $370,500

Propstream software suggests an offer price                           $330,167

Already amazing price                                                                               $300,000

 

 

 

Other Great Bank Owned Property

Address	City	House SF	Bedrooms	Bathrooms	Zillow Value	Current Price	Current Discount
1716 Hallinan	Lake Oswego	1916sf	3	3	$409,000	$354,500	$54,500
606 2nd St.	Lake Oswego	3022sf	4	3	$599,000	$420,000	$179,000
7970 SW Edgewater Ct.	Wilsonville	3191sf	3	3	$813,500	$599,999	$214,500
9715 SW 130th	Beaverton	1353sf	3	2	$247,500	$204,500	$43,000
14795 SW 147th Ter	Tigard	3594sf	5	4	$607,500	$402,200	$205,300
957 SW 177th Ter	Aloha	1475sf	3	2	$236,000	$184,900	$51,100
19250 SW Southview	Aloha	1332sf	3	2	$209,500	$158,900	$50,600
12850 SW 5th St	Beaverton	1108sf	2	1	$225,500	$139,840	$85,660
13905 SW Lisa Ln	Beaverton	1554sf	4	2	$267,500	$207,955	$59,545
10323 NE Holladay	Portland	1564sf	3	2	$211,500	$142,000	$69,500
4035 SE Harrison	Milwaukie	2344sf	3	2	$331,500	$216,000	$115,500
11960 SE Kelly	Portland	2184sf	4	3.5	(tax)$246,110	$153,500	$92,610

To make an appointment to view or to make an offer Contact a Blu dot Realty Broker

 

Airia Waible

503-793-4336

rikaw@comcast.net

www.bludotrealty.com

 

First Time Homebuyer Tax Credit Now Monetized!

E-News is the Oregon REALTORS® electronic newsletter sent to all Association members.  If you have questions or comments, please contact the Oregon Association of REALTORS® at 503/362-3645 (Salem) or 800/252-9115 (toll-free). E-News Update   First Time Homebuyer Credit   HUD has just announced that detailed guidance on the federal government’s plan to provide short-term loans to borrowers using the First Time Homebuyer Tax Credit is expected to be out shortly but a spokesperson from the U.S. Department of Housing and Urban Development, which is writing the guidance, couldn’t give a firm release date.   The short-term loan program, which would effectively monetize the first-time homebuyer tax credit by permitting eligible lenders to make bridge loans collateralized by the borrower’s expected tax credit, was announced by HUD Secretary Shaun Donovan at the Real Estate Summit the National Association of Realtors® hosted on May 12 during its 2009 Midyear Legislative Meetings in Washington.   It’s unclear at this point what shape the guidance will take and whether authorization for the loans will be available across the board or only in states in which the state housing finance agency already has a tax credit bridge-loan program in place. We will keep you informed regarding the release date of the guidelines.

 

 

This message was sent to rikaw@comcast.net. Visit your subscription management page to modify your email communication preferences or update your personal profile. To stop receiving Oergon REALTORS e-News, click to unsubscribe. To stop ALL email from Oregon Association of REALTORS, click to remove yourself from our lists (or reply via email with “remove or unsubscribe” in the subject line).

$8000 Tax Credit as a down payment! Now that’s stimulus.

 

 

 

http://www.realtor.org/press_room/news_releases/2009/05/re_summit

HUD Secretary Announces Monetization of Tax Credit at NAR Real Estate Summit

WASHINGTON, May 12, 2009

Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, said that the
Federal Housing Administration is going to permit its lenders to allow homeowners to use the $8,000 tax credit as a downpayment.

Donovan’s remarks came in an address to several thousand Realtors^® gathered this morning at The Real Estate Summit: Advancing the U.S. Economy, a special daylong session at the Realtors^® Midyear Legislative Meetings & Trade Expo here.

Secretary Donovan said that important changes, which the National Association of Realtors^® has been calling for, will help consumers purchase a home. “We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a downpayment,” Donovan said. According to Donovan, the FHA’s approved lenders will be permitted to “monetize” the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table.

Donovan said the Obama administration plans to further stabilize the housing market. “I do think we have some early signs hat the market overall is stabilizing,” said Donovan. “Since January we’ve seen both home sales moving up and down around a relatively stable number and we are seeing the first signs that the rapid decline in home prices is starting to abate.”

NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said, “As the leading advocate for housing issues and homeownership, NAR continues to take a leadership role in promoting ideas for improving our economy by stabilizing the housing and real estate markets. Today we have the best of the best to begin a dialogue, develop solutions and initiate action toward real estate and economic recovery.”

The morning session included a panel discussion that was moderated by CNBC’s Ron Insana. The 13 panelists and Realtors^® in attendance examined cutting-edge solutions necessary to promote and preserve homeownership and real estate development, stimulate the economy, and protect the nation’s taxpayers. They also shared their ideas on what the role and responsibility of the federal government is in the revitalization effort.

The list of distinguished panelists include Dr. Martin Feldstein, professor of Economics from Harvard University; Dr. Barry Bluestone, professor of Political Economy from Northeastern University; John Taylor, CEO of the National Community Reinvestment Coalition; Maria Kong, president of the National Association of Real Estate Brokers; and Sarah Rosen Wartell, executive vice president for the Center for American Progress.

“Right now the Federal Reserve is the market,” said Jay Brinkman, chief economist for the Mortgage Bankers Association. “What will be the effect when the Fed stops buying?” Brinkman explained that an exit strategy must be planned for the long-term; the federal government cannot continue to support the mortgage markets indefinitely.

“We must make sure FHA and the GSEs are supported,” added the Wharton School’s Susan Wachter.

“We are thrilled that so many high-caliber individuals were able to join us today at this important meeting to promote stability in the housing market and the U.S. economy,” McMillan said. “We look forward to an ongoing dialogue and action toward this goal, during our midyear meetings this week and beyond.”

The real estate summit is part of the Realtors^® Midyear Legislative Meetings & Trade Expo here through Saturday. During the week, more than 8,500 Realtors^® will attend meetings, visit lawmakers and inspire action on Capitol Hill.

© Copyright NATIONAL ASSOCIATION of REALTORS® | Headquarters: 430 North Michigan Avenue, Chicago, IL 60611

DC Office: 500 New Jersey Avenue, NW, Washington, DC 20001-2020 I 1-800-874-6500

Bank owned properties for every budget!

One of the biggest myths prevailing in the mind of customers is that if you do not have very deep pockets, buying a house for yourself can turn out to be a distant dream. This can be true for expansive pieces of real estate but when one can purchase foreclosure homes at fraction of their actual market price, the myth stands shattered. Everybody can aspire and achieve their dream homes by purchasing foreclosure properties provided they spend some quality time researching and preparing themselves for the task.

Advantages of purchasing foreclosure properties

People purchase foreclosure properties for variety of reasons. But the underlying theme is same. They are getting a wonderful property at a price which is way below its actual market worth and therefore is within their budgets and reach. Therefore, to purchase foreclosure home turns out to be a lucrative proposition for them.
Many first-time buyers purchase foreclosure home to turn it into their abodes. They can easily spend the money saved in the purchase in renovation of the house and making it conducive to their needs and requirements. Such buyers should not purchase the property just because it was cheap but should thoroughly consider whether they will be able to live comfortably in these houses for years to come or not.
Many investors purchase foreclosure home as an investment. They fix it up and later sell these houses, making huge margins in the bargain. Such investors should, however, carefully scrutinize all the legal documents related to the house and should also check for legalities like lien on the house which may hinder their title in the future. They should also consider the location and the history of the house as it will play a crucial role in the future sales.

When to purchase foreclosure property?

You can always find attractive deals in the pre-foreclosure stage, when the property has not still been foreclosed by the bank but is on the way to become foreclosed.  At this stage the current owner himself is looking to sell the house to ward off the financial crisis threatening him and can easily agree to your proposal. Later, you can always purchase through auctions at the courthouse steps, but this is a game not for the faint.  Or by buying when the property becomes bank owned.  I find this is the easiest time to buy.  The banks are tired after going through months, possibly a year to get property back and by that time, they want out!  They typically list with a local broker and that home is marketed at a discount.  Be sure to get financing approved first and be ready to buy.  Once you are ready, be prepared to save tens of thousands!  For more information you can attend foreclosure workshops in Lake Oswego for free held at the Portland Homebuilders Association and put on by local investors, brokers and finance experts.  Go to http://wholesalebuyerworkshop.com to register for the next event on May 23rd.  You can also contact a Blu dot Realty Broker to begin the search early.  Go to http://bludotrealty.com to use the mapping tool and find great bargains. 

 

 A source of bank foreclosed property where you can purchase foreclosure properties ,bank owned foreclosed properties, purchase foreclosure homes Bank foreclosed homes.

Casting First Time Buyers for TV SHOW……

“My First Place” Casting in Portland!

HGTV’s hit series, “My First Place,” is back for a seventh season and coming to Portland to film first-time homebuyers as they journey through the trials and tribulations of looking for, bidding on, and buying their first place!

They are looking for future homebuyers who are:
• Just starting the home-buying process for their first place
• Are fun, enthusiastic, and have a great story to tell
• Willing to share their personal and financial struggles with viewers
• Looking to purchase within a 90 minute radius of downtown Portland
• Hoping to close before the end of Fall 2009

If you or someone you know may be interested, e-mail Airika Waible at rikaw@comcast.net or call 503-793-4336 and she will submit your application.

Don’t forget this Saturday is the next Wholesale Buyer and Savvy Investor Workshop. How to save tens of thousands buying distressed and discounted homes in today’s market. Another event you don’t want to miss.

http://wholesalebuyerworkshop.com

Foreclosure Home Buyers learn before investing….

 

Hey Gang, I am proud to announce our 3rd FREE event!

THIS IS THE BIG ONE!

Wholesale Buyer and Savvy Investor Workshop

 

Saturday

May 23, 2009 ~ 9:30 AM

 

Speakers:

Market Study and Hometrack Search by: Gordon Root, Root Holdings, LLC

Property Showcase by Blu dot Realty, LLC

    Financing Options for Foreclosures and Fixers Michael Eiden, Mortgage Express

 

 

What Savvy Buyers and Investors want to know About:

The current market trends-

Where to find Foreclosure and Bank Owned Properties

Where to find fixers and wholesale property

Tracking foreclosures that you can actually buy… 

And a property showcase of some of the best deals out there today!

These Topics and Others Will be Covered

And, We have no books, tapes, mentorship or software to sell!!!

Portland Home Builders Association

15555 SW Bangy Rd,

Lake Oswego, Or 97035

 

To Register go to www.wholesalebuyerworkshop.com

 

BLU dot Realty, LLC

Real Estate Investment Services

Rick Waible

Syndication

Mobile: 503-572-2638www.bludotrealty.com 

Fax:      503-266-9494

 

 

“Because knowing when and where to invest in Real Estate makes all the difference…”