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HomeRun Homes is a centralized marketplace which helps people Find or Sell a Rent to Own Home, both Nationwide and Globally to the thriving Rent to Own Market. http://www.lease2buy.com
Showing posts with label broker. Show all posts
Showing posts with label broker. Show all posts

October 18, 2013

Buying a Home? Read This First

Hi Folks,
   I hope all of you have been well, and thanks for all of your correspondence.

   The reason we are all meeting here together in this Blog is for one purpose; Real Estate. Albeit a broad industry composed of multiple niche subdivisions, it all comes down to buying and selling properties. Today, we will turn our attention to buying properties, and we'll focus on some essential things that homebuyers should be aware of before making a purchase.

   Let's step back for a moment and look at all of the moving parts here in the most common of scenarios: A buyer will utilize the services of a Real Estate agent to find a home, make an offer, and if the offer is accepted, the buyer will then utilize the services of a mortgage broker/banker to gain access to funds. Are you with me so far?

   From another angle, you are buying a house, and borrowing money (paying interest, points, etc). To be more specific, as John Maxfield of the Motley Fool wrote in a recent article, when you buy a home, you're making two purchases, and says that, "the loan itself may be the most significant piece of the transaction".

   Some other points that Maxfield touched upon was that you should look at your Real Estate agent as a partner, and additionally, that you need to keep resale in mind from the beginning. A good suggestion is to start doing your homework on agents and ask around. Check their reviews online, if you can do so locally. Speak with neighbors in the area you are looking to buy a home, and start gathering names and suggestions for you to investigate further. Once you have narrowed down your options and decided on an agent, start building a relationship with them. Only then will you be able to confidently discuss the eventual or possible re-sale of your home while looking to purchase it in the first place.

   Maxfield says that most of us "delude ourselves into thinking that we actually know something about real estate", but says that the truth is that "few of us have any idea what we're talking about". I think this statement is especially true for those that are won over by a home and fall in love before the inspection. Maxfield says that, "Homes are like people -- they all have problems", and that the "shock generally comes when prospective buyers get their inspection reports back". That's when some tough decisions need to be made and some negotiations have to take place (regarding who makes repairs, who pays for them, and so forth). Not the most exciting time of the homebuying process...take my word for it!

   Look, the truth is that the right home is out there for you. If you educate yourself, learn the market, know what you will be facing as far as home price, mortgage "price", possible resale value, and whatever else might be necessary in your state, you will prevail.

   Remember, if you want to take a softer approach to buying a home, the answer is quite simple; look into Rent to Own. You're certainly on the right website for that option !


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Have a Great Weekend, and Happy Rent-to-Owning !
Regards,
Rob Eisenstein
HomeRun Homes - Rent to Own Homes, since 2002
"Located at the Corner of Technology and Real Estate"
Rent to Own Homes and Real Estate Blog for HomeRun Homes: http://blogging.lease2buy.com

HomeRun Homes Websites: http://www.lease2buy.com and http://www.homerunhomes.com


TAGS: #buyhome #realestate #agent #broker #mortgage #inspection #renttoown



May 3, 2011

Common Code Violations Found By Home Inspectors

Hi Folks,

   Glad to have you back here with me today.

   Let's face it, Home Inspectors do not have an easy job. They often enter homes of people that they have never even met before, and in some cases, are even met with a hostile welcome. Additionally, they need to be well-versed in all local codes, running the gamut of Electrical, Plumbing, Building/Structural, and more

   With that being said, today we will be taking a look at some of the most common code violations that Home Inspectors see on a consistent basis, which falls into 3 popular categories: Electrical, Plumbing, and Building/Structural.

   Chantay Bridges, of LA Real Estate Now, says that some of the electrical hazards that are most common usually occurs when there are, "too many wires plugged into one outlet or switch that can cause a fire." Sam DeBord, a Managing Broker and a Realtor, adds that a, "Lack of GFCI outlets in bathrooms and kitchens and other minor electrical issues like reverse-polarity on outlets." is quite common, and that this is, "an inexpensive repair that most home sellers would benefit from repairing for selling their home."

   Plumbing issues are also very common, and as Bridges says, they encompass, "dripping faucets, loose toilets, improper drainage and so forth." Sasha Tsakh, VP Sales and Marketing for a licensed plumbing company, mentions the, "Illegal plumbing work" that he finds, and says that, "It appears that many home owners are not aware that you need to have licensed contractors performing work. They have illegal gas lines and missing safety features. It's really sad to see how they've been taken advantage of, especially since there is no way to find these people once they've performed illegal work."

   The third issue is related to Building Code (including Structural Code). Bridges points to, "Illegal additions to properties", and she cites the following examples; "Someone added a room, altered the garage, etc. without a permit.". Paul S. Gilbertson, a former General Contractor, adds some issues that he has seen in regards to steps and railings, as well as handicapped ramps and landings. Additionally, Bridges also mentions that roofs tend to, "constantly make the list due to aging, rotting, wear and tear.", as well as, "Leaks" with improper ground drainage, ceiling stains from previous leakage, and rotted, molded, exposed untreated wood surfaces. Finally, she mentions some other issues, such as bars on windows without proper escape or emergency mechanisms, inoperable smoke detectors" (or smoke detectors that are not installed at all).

   Indeed, as mentioned at the start, being a Home Inspector is not easy. Hopefully some of these tips will help you prepare for any future home inspections, and save you time, money, and aggravation. Any comments? Did we miss any common issues?

Have a Great Day, and Happy Rent-to-Owning !
Regards,
Rob Eisenstein
HomeRun Homes Blog http://blogging.lease2buy.com
HomeRun Homes Website http://www.lease2buy.com

January 31, 2011

What's It Like Being A Realtor?

Hi Everyone,

   Hope you had a great weekend, and welcome back!

   Today we are going to talk about Realtors, and we are going to hear from a few different Realtors about what they like and dislike about being a Realtor. As Alexis V. Halmy, a Principal Broker with Windermere, says, "Realtors are generally creative people who wear lot of hats... psychologist, decorator, organization guru, expert negotiator" and that, "there are all of the details of running a business...marketing, networking, systems, finance etc... So each day is different and there are new problems to solve all the time." Halmy says that basically, "a Realtors job is to protect their clients and also themselves from those murky waters."

   Halmy says that she likes to really, nail it for someone who is searching for the right thing, as well as being self employed, having a flexible schedule, with nobody to answer to but herself, and no corporate politics.

   Charles D'Alessandro, a Realtor with Fillmore Real Estate, also says that he loves working for himself, and as he says, he is, "Working for the toughest boss I could find, Me!". D'Alessandro also says that he loves when , "a deal is made ,buyers and sellers come together ,and it's all due to my efforts." Similarly, Laura Breitenstein, a Certified Short Sale Professional with Hermann London Group, says that she enjoys, "meeting new people and coming up with ideas on how to creatively market and sell their homes.", and also likes helping buyers find their next home (as she describes it, "It is really fun watching a buyer walk into a home and say "this is it" and they start figuring out where their furniture will go.").

   Patrizia Giassa, an Associate Broker with Keller Williams Realty Premier Properties, says that her favorite part of the job "is the constant challenge of dealing with different people with varying needs and wants and budgets and helping them meet their home goals.", and she says, "over the last 23 years, it has NEVER been boring! It still is fun and exciting ...a good thing, because its a lot of hard work and long hours too. :-)"

   Nancy Lynn Jarvis, a long-time Realtor, says that she got her license over 20 years ago, and she say that the job was interesting, and that, "you learn something new with every transaction.", and, "You meet great people, and awful people. Over time, hopefully you hone your people reading skills so you can tell the difference quickly and cut the unpleasant ones ( never to be confused with demanding ones) loose. You make some good friends along the way, too."

   Now, what would be a story without both Pros and Cons? One of the Cons that Halmy points out is, "Finding out something awful about a house someone is buying.... like a river of water running in the crawl space, or some other material issue that makes the buyer run. (And that can mean the loss of an anticipated commission which can be tough.)". She says that, "In this market what is hard is dealing with the frustrations of sellers who are trying to get their homes sold. They know it is a "buyers" market, they know that prices have dropped but they won't or can't adjust the price of their home to meet the market, despite all data saying that this is exactly what they need to do."

   Interestingly enough, D'Alessandro says that the thing he likes the least is, "watching what's happening with the mindset of many home owners today. They're solely focused on the monetary value of their homes and treat them more like credit cards. Instead, they should remember that their homes are their safe havens from the world, the place where they create memories, and a roof over their heads."

   Jarvis tells me that when the market, "tanked in 2008", she decided to, "sit it out for a while knowing how unpleasant a work environment it would become in the next year.", and ultimately, she says that she, "got bored very quickly and as a time filling intellectual exercise, I began writing mysteries with a Realtor protagonist and used some of the many stories I collected in real estate as background material." Jarvis says that she now has, "three books published and am writing the fourth, and that, "Killing people, it turns out, is even more fun than selling houses."

   Are You a Realtor? What are your thoughts in terms of Pros and Cons ?

Have a Great Week, and Happy Rent-to-Owning !
Regards,
Rob Eisenstein
HomeRun Homes Blog http://blogging.lease2buy.com
HomeRun Homes Website http://www.lease2buy.com

TAGS: #realtor #realestate #shortsale

December 10, 2010

Does Subprime Still Exist ?

Hi Folks,

   Hope you've had a great week, and that you've been able to keep warm !

   A few days ago, a colleague of mine asked me if subprime loans still exist, and I realized that I have not heard the term, "subprime", for quite a while, and I also realized that before responding to him, I had better gather a consensus from some mortgage professionals with knowledge on this topic. At the same time, I figured that this might be something to share with all of you good folks out there, as well.

   We spoke with a few sources, one of which is Fred Glick, a mortgage broker and banker, who says that, "Fannie Mae and Freddie Mac now have minimum credit score standards based on loan to value.", and that the, "new subprime lenders are private ones that charge a lot in rates because they are limited to what they charge in points by many different state and federal laws, including but not limited to what is coming out under the Merkely Amendment of Dodd-Frank", that, "limits compensation to a maximum of 3% of the loan amount and does not allow for both front end points and back end compensation from lender to broker in the same transaction."

   Steven Bote, Mortgage Planner, says that the "very short answer" is, "no, subprime lending does not exist.", and he continues to say that, "for me, the defining characteristic of all subprime loans is the absence of "documented income necessary to support the ability to reasonably repay.". Bote says that today, residential financing is on the "complete opposite extreme of the lending spectrum from where it was three years ago during the height of the subprime era, and as such, everything is fully documented (pay stubs, W2s, tax returns, schedules, etcetera)."

   Any discussion on lending would not be complete without looking at the impact of FHA and VA loans, of which Bote calls, "Government-based loans that allow for higher LTV-based financing, such as FHA and VA". Bote says, that for example, "FHA allows a person to buy an owner-occupied 4-unit property with as little 3.5% down of the purchase price, and VA financing of the same property type allows for 0% down payment (and with as low as a 620 middle FICO)", and says, "To put things into perspective, conventional financing requires all buyers to put down a minimum of 20% of the purchase price." Glick says on a similar note that the, "VA has gotten tougher and FHA claims not to have a minimum, but the GNMA market is moving up to 620 to 640 as a minimum. So, for the people with the scores in the 5's, it's a problem unless you have lots and lots of equity."

   Greg Cook, a Mortgage Professional, agrees that a, "certain segment of the subprime market is being served by FHA financing", and also says that, "Most subprime (hard money) lenders have gotten out of owner occupied loans because federal and state legislation limit the total fees that can be charged. These limitations do not apply to commercial, business or investor loans, so hard money lenders have evolved back to these types, which were their staples before the rise of subprime."

   So, with all of this information in hand, I have duly advised my colleague that the subprime market does still exist (well, kind of), and as Cook said, he has seen, "subprime mortgages start out as hard money, morph into subprime for homeowners, and back to hard money.".

   Do you have anything to add to this discussion? We welcome your comments and insights.

Have a Great Weekend, and Happy Rent-to-Owning !
HomeRun Homes Blog http://blogging.lease2buy.com
HomeRun Homes Website http://www.lease2buy.com

TAGS: #mortgage #loans #hardmoney

November 26, 2010

UPDATED: Post-Foreclosure REO Property Maintenance

Hi All,

   I hope you had a wonderful and relaxing Thanksgiving dinner, and we are glad to have you back here with us today, from wherever you may be reading this.

   We have had a tremendous amount of requests to cover the topic of REO properties and the manner in which they are kept from becoming eyesores and danger zones. In order to garner the best information, we spoke with a few people who deal with REO properties on a daily basis, and we have received some valuable information from them that we would like to share with you today.

   How are Foreclosure/REO Properties being Maintained in while they are Unoccupied?

   Edward Harris, Owner of REO Clean Up, tells us that the REO maintenance process for his company starts once the, "HUD/Bank receives a foreclosed property into their inventory and that property is turned over to their integration contractor/Broker.". Once they receive the property they send his company a "work order to go out and perform an, 'initial inspection'." Harris say that this report provides detailed information of anything left behind by the previous owners and also any visual problems with the home. The next step after this report is sent back to the IC/Broker is that a, "a work order is generated from the 'initial inspection report' regarding any issues. This work order is referred to as. 'Initial Services'."

   Another professional we spoke with, Mia Melle, President of West Coast Property Specialists, says that, "How these properties are managed during times of vacancy differs from company to company and also depends on what the owner intends to do with the home - rent or sell or sometimes nothing at all.". Melle provides an example of Fannie Mae, which, "uses the agents who are going to list the home as interim property managers and usually they are unpaid!", so basically it is the listing agent's responsibility to, "coordinate lock changes, landscaping, board ups, etc.", and surmises that the fact that they are unpaid for this service, "speaks to the fact that so many homes go uncared for and turn into neighborhood eyesores."

   Adam Roberts, a Community Development Loan Specialist in the St. Louis/Midwest Region, concurs, and says that, "many of the REO properties are not being maintained to a "neighborhood friendly" level. Lenders are neglecting to manage these properties because there is an overwhelming(ly) large number."

   Melle says, however, that she has seen other types of financial institutions use property management companies to handle their vacant inventories but she reiterates that, "the companies are often doing this for the opportunity to either list or manage the property in the future and are offered next to nothing (in) compensation to oversee the homes."

   Who is Keeping these Properties from Becoming Overgrown?

   Harris says that once his company receives an "Initial Services work order", they perform the following; "trash out services, Janitorial, grass cut and any safety issues are given immediate attention. Once we receive a work order the property is in our inventory for routine services until the property is sold." He says that "Routine Services includes bi-weekly visual inspections, grass cuts, picking up any trash, re-fresh janitorial cleaning, re-fresh of winterization during the winter seasons, snow removal", and, "If a roof problem for example, is found during a routine inspection I would have someone rectify the problem ASAP."

   Roberts says that "fortunately" through local law enforcement and code enforcement the properties have some maintenance such as, "occasional lawn mowing and boarding up windows and doors." Still, however, Melle says that, "Landscaping is one of the issues that lack thereof is the most noticeable to the neighborhood and it's one of the harder services to obtain for anyone whether you are a bank, property manager, or listing agent.", and says that, "The reason for this is that gardeners are a very local type businesses and you cannot find them on the Internet, the yellow pages or elsewhere. Normally, if you live in the neighborhood they will drop a flyer off at your door periodically but other than that.they are extremely hard to locate and hire from off site. So, as a result the landscaping may or may not get done regularly or at all.", and says that, "It's definitely an issue that we've had in our company with these types of portfolios."

   Who is Protecting these Properties from being Burglarized (for Copper Tubing, etc)?

   Harris says that during the "initial inspection", the property is secured, locks changed, hasp/pad locks if needed.", but he says that, "Obviously we can’t have someone at the properties 24/7, the visits of the routine inspectors and neighbors aware of the home can be/hopefully a deterrent for any theft. But if there is a burglary we notify the authorities, find out how the burglar got into the home and re-secure the property."

   Roberts concurs and says that Local law and code enforcement, "report the break-ins and then requires the lender to board up windows and doors.", and that, "Unfortunately after this happens the home becomes unmarketable to "real people" and the best chance of the home moving on the market is now in the hands of an investor, which means another short sale."

   Who is Keeping Squatters from Living in the Property?

   "There have been cases of squatters but not many with our company.", says Harris, who continues to say that, "If our routine inspector doesn’t find evidence of a squatter then we are called by a neighbor. Keeping the squatters out can sometimes be a task." Harris says that, "At one property, the squatter broke the door three different times. The first two we re-hung the door and put two padlocks and hasp on the door. The third time our inspector arrived for his routine inspections and found the person in the house and was able to call the police. They were able to apprehend the squatters." On a positive and hopeful note, Harris says that, "Our continuous presence at the properties we hope prevents illegal activity."

   Roberts says that, "Unfortunately these homes are sitting unoccupied for extended periods of time which makes them highly susceptible to burglary and squatters." He says that, "After initial vacancy the home has windows and doors, (and) in a few months, squatters and burglars target the home. They begin by stealing the air conditioner. Then when they realize neighbors are too scared to come out and confront them, they break in doors and windows and start cutting out the copper and other valuable items in the home." he says that in the end, at best, "local law and code enforcement are mandating maintenance to the best of their ability", but, "unfortunately these dismal efforts are only making the public aware that these properties are foreclosed, unsafe and jeopardizing the stability of the neighborhood."

   How many vacant or unoccupied properties have you been seeing popping up lately? Have they been maintained fairly well or do they have the "REO 5'O'clock shadow". Let us know so we can all share some information and new ideas and strategies to help our neighbors.

Have a Great Weekend, and Happy Rent-to-Owning !
HomeRun Homes Blog http://blogging.lease2buy.com
HomeRun Homes Website http://www.lease2buy.com


TAGS: #foreclosure #shortsales #reo #realestateinvestors #realestate #propertymanagement #hud #property




UPDATED: Top 5 Blog post for 2010 (For more information, CLICK HERE)







August 18, 2010

Short Sales - What Do You Need to Know?

Hi All,


   Happy Wednesday to you. In keeping with our promise to tackle every topic you threw at us a few weeks back in that now "famous" Blog Post, today we are going to discuss some tips and strategies when pursuing Short Sales.

   A conversation about Short Sales would be incomplete without looking at it from two viewpoints: that of the Buyer (Broker or Investor), and that of the Seller (The Homeowner), and we have spoken with a few experts in the field who will discuss both viewpoints.

   First, we will examine things from the vantage point of the homeowner (the Seller). Geena Becker, of Geena & Company/William Raveis Real Estate & Home Services reminds us that the credit score is bruised on a short sale vs a foreclosure - "whereas foreclosure your credit score is driven down 200 points and banks will loan money to a bankruptcy victim before they loan to a foreclosed victim.". Becker also states that the banks pay for the attorney, realtor commissions, and back taxes, but will, "not pay any liens on the property. Those liens have to be negotiated OFF before the approval."

   In addition, Allan S. Glass, President of ASG Real Estate Inc. adds that, "The bank is settling a bad debt. Anything and everything they can extract from you regarding financial information will be used to that end, there are no casual off the record conversations with the banks while they are collecting your debt". Glass warns that you need to make sure you are working with an expert in the field of short sales, and that, "not every agent/broker is created equal and there is a learned skill to negotiating a debt settlement."

   Glass also provides additional pointers, such as to never pay any fee under any circumstance up front ! ("Professional agents will not charge until they are successful in completing your short sale or modification"). Further, he says that you should never sign over title to an investor who will then negotiate with the banks, as you do not need to sign over title to your home to be helped with a short sale. Finally, Glass reminds us that investors who help you with short sales are attempting to buy your home for a discount in order to make a profit, and that, "Not that anything is wrong with that when reasonable, however make sure you ask what happens if they cannot negotiate a purchase price low enough for them to invest."

   From the Buyers point of view (broker or investor), Becker provides some important pointers:
   1. You Will be buying "as is"
   2. You may be subject to more than one banks approval
   3. The Buyer won't know if the seller's loan was an FNMA (takes longer).
   4. If seller has it in their contract to make it subject to not receiving a deficiency judgment tied with short sale appraisal - there is a 50/50 shot of getting that wish.

   Further, she says that she will, "always find out if the mortgage they are late on was their mortgage that they first had when they bought the house. If so, nationally the bank CAN NOT go after the sellers with a deficiency note or promissory note on the difference. With the bank knowing it can come into play in a short sale negotiation since they know they can't come after the seller or borrower for the deficiency. If they have re-fi'd meaning it was not the "original" mortgage they will not have that slam dunk protection."

   Glass also provides some pointers in reminding us that, "the banks are motivated by values. They will do a short sale if they make more money by doing so compared to completing the foreclosure process", and that, "the bank and the seller are NOT working together to get the highest price from the buyer." Glass tells us that the best strategy is, "for the seller and buyer to work as a team to deliver the best value to the bank.". He warns that you must, "understand the numbers (as a broker or investor) and have a strong understanding of market value. Compare what the bank will net as a short sale vs. foreclosure / REO sale".

   As for timing, Glass says that it is key to, "follow up, follow up, follow up. If you are not following up the bank is not working on your file!", and Becker suggests that you make sure the buyer is very clear that this will not be a normal closing time frame, and that the buyer has to be able to, "wait without having to move in." and tells us, "I have had a lot of short sales last year especially where the buyers walk 1/2 way through my negotiating process and I have to start all over again. The buyer's agent must get it through to their clients that they can not be in a hurry. Good deals come to those who wait..."

   This is good sound advice from some seasoned Short Sales Professionals. Do you have any additional tips to share with our readers? We welcome your comments below.

Have a Great Day, and Happy Rent-to-Owning !

July 2, 2010

5 Tips for Selling a For Sale By Owner (FSBO)


Hi Everyone,

Today, I'd like to discuss 5 very important tips for anyone trying to sell their home on their own. This type of arrangement is often referred to as For Sale By Owner, or FSBO.

Tip #1: PRICING: In order to determine a fair selling price for your home, you need to investigate home prices in your area. You'll want to review not only the prices that homes are listed for, but what they have sold for as well. Your best resource for this information will be your local newspapers. You can even take a trip down to your local government office to check out more details from the mortgages that have been obtained by new homeowners in your area and saved ("recorded"). These documents are public domain, and it takes a little time to get the gist and flow of how to do this research, however, there are usually plenty of clerks available to take your questions. Some other ideas: talk with real estate agents in your area, and check around for appraisers in your own network of family and friends. If you can connect with an appraiser, you can ask them for a general rule of thumb for pricing on your home, and perhaps they can make a few suggestions to increase the value. Finally, you can always shell out a few hundred bucks for an actual appraisal of your home, but most often that will not be required.

TIP #2: LEGALITY: Whenever you are talking about the sale of a big ticket item such as your home, it is always good advice to retain an attorney and/or consult with your local Title Company. To check if your state is a Title State or not, please refer to this handy resource: http://title.grabois.com/

TIP #3: MORTGAGE: I am a firm believer in lining up all of your "ducks" in advance. Before you get to the physical process, you'll want to consult with some mortgage brokers and banks to educate yourself on the financing side of selling your home. This goes both ways, in that, if you make a good contact with one of these individuals or institutions, you can always refer a potential buyer to them, since they would already be familiar with your situation from your previous discussions with them.

TIP #4: ADVERTISING: This is where you want to do your homework on creating your Ad. Check on the Web and in your local papers to see the most common Ad format. Once you have done your research, create an electronic copy of your Ad, perhaps in Microsoft Word. In addition, you will want to have high-quality images of your home, for the interior and the exterior. For the exterior photos, make sure you get a sunny day when you take the photos. Why? Would you be more excited about a photo of a potentially new home when the photo is framed by a grey, cloudy, and rainy day vs a bright, sunny day with blue skies? It's all psychological.

TIP #5: MARKETING: It's time to plaster your Ad everywhere - starting with the Internet. There are a lot of free sites - but with free sites sometimes comes the "time-wasters". The old adage, "You get what you pay for" certainly applies. In addition, there are forums, discussion boards, and many other places that will allow you to announce your home, of course, once you have passed the proper permission steps unique to each of those specific sites. Should you decide to also accept Rent to Own as an option to purchase your home, you can always place your "Home Available" Ad on our website, as a For Sale By Owner (FSBO), as well as a Rent to Own (Click Here to Sell Your Home).

So there you have it. Once you start receiving offers that are in your price range, this is where your attorney, title company, and ultimately, your mortgage broker, will come into play.

Have a great 4th of July Holiday, and Happy Rent-to-Owning !!

May 17, 2010

Flipping, Homes Available, Mortgages, Tip of the Day...

Hi Everyone,

Hope everyone had a great weekend. It was a really warm weekend here in New York, and of course, that means, "Daddy, I want ice cream", and of course, my personal favorite, the resulting sugar rush !

A few business partners/investors and I went looking at some local properties this past weekend to get a better sense of the underlying market conditions, and to potentially make some offers on some of them in order to flip/rehab, and then Rent to Own them afterwards. The funny thing is that we have actually made contact with a customer who placed an Ad on our site and we are going to see their property this week. When they heard that it was members of HomeRun Homes who are actually coming to see their home, they had a good laugh, due to the irony. We had wanted to see their home this past weekend, however, they were showing the property to people who contacted them via their Ad on our site (their "Home Available" Ad).

We have been receiving a lot of E-mails from people asking us about certain properties or homes that they desire to have, so we wanted to clarify here, that you can always check out homes and contact the owners (for free !) via the "Homes Available" link on the side of our website (www.lease2buy.com). If you do not see the property you are looking for, you can let "the world" know what you need by clicking the "Find a Rent to Own" Home link on any page of our website, and following the prompts to create your own, "Home Wanted" Ad.

Tip of the Day: When we originally purchased our primary residence, our mortgage broker quoted us a specific rate. When we got to closing, there was a 1/8 point discrepancy above the quoted rate. After some yelling and screaming during the closing (of course), the broker agreed to compensate us by cutting a check to hedge the "loss" for us. All worked out well, and this kind of thing does happen from time to time, and it may not be malicious on their part - it could just be an oversight. But the tip of the day is 2 words: "In Writing". Make sure you get every single quote, whether it's a mortgage interest rate, a home price...anything...in writing, on the letterhead of the broker, seller, etc, along with the date and their signature.


We will be doing some cool structural work on our site this week, and we'll let you know.

As always, remember to "Follow" our Blog (see the left-side of the page), so you can be notified when a new post is made, and as always, we welcome your valuable comments and insights!

Have a great week, and Happy Rent-to-Owning !