No Bull Agent

Upgrade and repair documentation important when buying flipped homes

The practice of investors flipping homes in San Diego can still be found in various areas of San Diego County.  Typically, these areas were the hardest hit by the residential real estate downturn.  Basically, flipping a home means an investor has purchased the property at a low price and is selling it at a higher price.  Please know that’s the simple definition as the process can be quite complex depending on the property and market conditions.  If you are currently looking to buy a home in San Diego County, you may come across an opportunity to purchase a flipped home.  These can be great as they are usually competitively priced traditional sales where you can avoid some of the challenges of short sales and foreclosures.  We recommend doing the normal due diligence when it comes to inspecting and investigating a flip, such as a physical inspection.  One crucial item that can be overlooked is to request documentation from the seller detailing the work performed in rehabbing or updating the property prior Read the rest of this entry »

Tags: document, flip, home buyer, investor, ken kaplan, real estate, repair, san diego, tds exempt, transfer disclosure statement

Will Tuesday’s Consumer Confidence Report trend towards the positive?

Information in this post is provided by Ron McGowan, Senior Mortgage Consultant with PrimeLending.  He is a guest blogger who provides us information from a lender’s perspective.  For additional information on Ron, please visit his website at ILoanSanDiego.com.

Mortgage market update for the week of October 25, 2010…

Market Update
INFO THAT HITS US WHERE WE LIVE…Mortgage rates, already at historically low levels, have been sliding even further the last few weeks. Nonetheless, the Mortgage Bankers Association’s Weekly Mortgage Applications Survey showed purchase applications down a bit from the week before.

But happily, applications for conventional purchase loans are actually at their highest level since the start of May, following the home buyer tax credit expiration on April 30. Of course, with today’s super low rates, demand for refinancings are also up Read the rest of this entry »

Tags: consumer confidence, forecast, housing starts, ken kaplan, mortgage market, real estate, san diego

Ken Kaplan discusses foreclosure moratorium on Fox 5 San Diego (Video)

Tags: banks, foreclosure, fox 5, ken kaplan, Lending, loan modification, moratorium, real estate, san diego