alternative financing

Sign of the (Housing) Times

Too-Good-to-be-True Real Estate Come-On’s Combine an (over)heated housing market, scarce inventory (at least at the lower price rungs), and a shaky economy in which lots of consumers have still-battered credit, and what do you get? Home-made signs (like the one to the right) on telephone poles promising would-be home Buyers their pick of hundreds of...
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The Contract for Deed “Catch-22”

CD’s and Market Risk Contracts for Deed can be a great option for home sellers with lots of equity, and Buyers who can’t otherwise qualify for a mortgage at a good rate. Under the usual terms, the Buyer comes up with a down payment, then makes monthly payments to the Seller for a prescribed period — often...
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Edina Realty’s Crystal Ball

On Tap for 2010: Social Media, and (More) Foreclosures and Short SalesNo, I don’t predict the direction of home prices. But housing trends are another matter. Fortunately, if you’re an Edina Realty agent, corporate does that for you (or at least helps). Each year, senior management highlights at the annual meeting — and reinforces during...
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Alternative Financing: Back to the Future?

Contracts for Deed & Assignable Mortgages Last Fall, Edina Realty’s excellent legal department identified FHA loans and short sales as the two, big looming issues for Realtors to prepare for in 2009. Good call. So, what is Edina legal predicting will be big in 2010? Alternative financing. As in, contracts for deed and mortgage assumptions....
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Distressed Markets Show Improvement

What Goes Down . . . Must Come Up? When buying is cheaper than renting, markets begin to turn. At the current rate of sales, there is less than three months of inventory in the Sacramento market. In normal times, that would indicate a seller’s market. Except these are not normal times. The unemployment rate...
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