Real Estate, Market Change Affects Investors

There is about to be a major change in investment property... that could put some people who don't plan in a very tough situation.

Freddie Mac has just released information regarding new cuts that become effective on August 1, 2008. They are now restricting the number of financed investment properties a borrower can have to four total, including the subject property. These are 1-4 unit(s) properties, and the current restriction is 10 total properties.

Another change that takes effect at the same time is a seasoning restriction on refinancing an investment property of 6 months. Currently there is no restriction.

This will have a significant impact on the residential real estate market by limiting everyone, regardless of income, loan to value, credit scores, or assets.

Houses for sale Gray Maine, How not to sell a home?

So in the previous segment I explained some creative selling techniques to assist in bringing a buyer and seller together. Sometimes it just takes looking at the situation and helping the parties realize this is a business transaction, and other times it takes bringing in a more personal touch. Every situation is different.

I had brought the buyers and sellers together, until a survey issue arose. The buyers wanted the seller to pay for a full boundary survey and the buyers refused. Cost of this was $2500 and the parties walked away from the deal. Which is what I let them do for a couple days to rethink their positions. Then I addressed all concerns of the seller about putting up the money and then the deal still not working. After covering those, I found a surveyor who did the work for $1000. That saved the seller $1500 and saved the deal, again.

Having an experienced real estate broker is a great investment when selling or buying a home.

Call several realtors before deciding... this decision will make a difference.