Creative Real Estate Concepts
Creative Real Estate Concepts
posted by Creative Concepts in Real Estate @ 6:36 AM
Thursday, February 09, 2006
The real estate industry has undergone significant changes in recent years. Over inflated real estate prices, mortgage lending criteria tightening, fraud becoming common place, just to name a few. So lets talk about what is happening and the changes that are in the industry today. Success is about having the information. From appraisers... to mortgage lenders... secondary note market, seller financing... REALTORS... Let's get it on the table for all to know and understand.
About Me
- Name: Kenny Medlin
- Location: Memphis, Tennessee, United States
I have a broad background... Everything from law enforcement to selling jet engines for commercial transports. For the past decade my interest has been directly related to the real estate industry. I have operated a mortgage brokerage firm, a REALTOR firm, Rehabbed houses as a Real Estate Investor and I operate in the secondary note buying/selling business.
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2 Comments:
Hello to all... I hope that this Blog will help you in any real estate endeavor you face in the future. Refer often and add comments as often as you like... WELCOME
Just so you know... Appraisers are paid to tell a lender how much your home is worth. (supposedly) Did you know that appraisers alter their opinion of your homes value depending on what type of loan is being obtained? I have seen the same house appraised (over a thirty day period) by three different appraisers... at three different values with a spread of $60,000 in value... and this was on a house that has a Comparative Market Analysis indicating a $300,000 value... Do not be afraid to ask for a second appraisal! It may cost you another $400.00 but which is better? to spend $400 to get the value where it should be or take perhaps a $10,000 hit on your price?
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