Buy-to-Let Deals Are Fast-Tracking UK Recovery

Hi Folks,
   Glad to be here with you.

   Today, we are going to talk "Buy-To-Let". What is "Buy-to-Let"? It's a very popular type of Real Estate Investment in the United Kingdom (the "UK"), where a property is purchased solely for the purpose of renting it out. This is similar to our version, which is a non-owner-occupied property (which oftentimes can refer to "Rent to Own"). So, now that we tied this in with some familiar terms from this side of the Pond, let's discuss how popular this investment has become.

   "For many buy-to-let looks an attractive income investment in a time of low rates and stock market volatility. Lower house prices, rising rents and improving mortgage deals are tempting investors once more", says Simon Lambert in his article, "Ten tips for buy-to-let". We will return to his tips shortly.

   In terms of had figures, David Whittaker, managing director of buy-to-let specialist Mortgages For Business, recently commented in an article ("Buy-to-let lending 'propping up' mortgage market") on the UKs' LandlordToday website, and said that that the increases in both new mortgage and remortgage approvals could have been largely driven by property investors. "Whilst buy-to-let lending to individuals has been lumped in with the total figures, we all know that it’s most likely the professional investors who are making hay while the sun shines", says Whittaker, who adds that "the likelihood is that the lending market is being propped up by the residential investment sector particularly with so much uncertainty surrounding the economy and first-time buyers largely locked out the of market.”

   In the same article, David Brown, commercial director of LSL Property Services, agreed, and commented that "demand for buy-to-let has been a key driving force behind the improved lending picture".

   Not just for Real Estate Investors

   This surge in Buy-to-Let is not isolated to just the Real Estate Investors. In a different, yet aptly titled article on the same UK LandlordToday website ("Build to rent is 'next big thing', says UK's biggest landlord"), it stated that "Developers are to be encouraged to build new housing estates where all the properties will be for rent, not sale". The article says that this would "mark a fundamental shift in the structure of the UK housing market", and that "Institutions and property companies would own, and trade, these ‘build to rent’ developments". The idea has been floated after research by Grainger, the country’s largest listed residential landlord, highlighted the huge shift in public opinion over home ownership versus renting, and the Grainger chief executive, Andrew Cunningham, was quoted in the same article that "build to rent will be the ‘next big thing’".

   Now, back to those 10 tips from the article written by Lambert, to which he refers as "the ten essential things to consider for a successful buy-to-let investment". The list includes the following; Research the market, Choose a promising area, Do the math, Shop around, Think about your target tenant, Don't be over ambitious, Consider looking further afield, Haggle over price, Know the pitfalls, Consider how hands-on you want to be. Great tips!

   This is a big thing in the UK. One of the LandlordToday articles stated that "The Government is taking the issue seriously, looking at how to encourage Real Estate Investment Trusts (REITs) in the residential sector". This is sure to deepen the market for Buy-to-Let in the UK, and the demand for Buy-to-Let in the UK should only continue to increase.

   What do you think this means for the United States? Should we be pushing the Fed to get more involved in this? It looks like they are on the right path when discussing doing something similar with the Foreclosure homes and REOs. What are your thoughts?

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

TAGS: #buytolet #realestateinvestment #UK #foreclosure #REO #renttoown #risingrents #residential #mortgagemarket #London #England #buildtorent #developer

Snapshot of September New Construction and Existing Home Sales

Hi Everyone,
   Welcome back to a beautiful Fall day with the potential for a substantial amount of pumpkin picking in the forecast.

   The September figures for both New Residential Construction and Existing Home Sales were released this week, and aside from fluctuations over the past few months, things look solid when compared side-by-side with the same time 12-months ago.

   New Residential Construction, as you might be aware, is broken down into 3 parts; Building Permits, Housing Starts, and Housing Completions. Housing Starts (Privately-owned housing starts), were up 15% from August, and 10.2% Above September 2010. This is very encouraging, especially for the Western Region of the U.S., which had figures that were substantially higher than the average (over both the 1-month and the 12-month periods). Building Permits and Housing Completions were also up over the longer-term, but not at the elevated levels as were the Housing Starts.

   Existing-Home Sales, which includes completed transactions for single-family, townhomes, condominiums and co-ops, dropped 3% from August, but are up over 11% from September 2010, per the National Association of Realtors® (NAR). In terms of regional variations, the long-haul big winner was the Midwest, checking in with in excess of a 17% jump in Existing Home Sales from September 2010 through September 2011.

   The chief economist for the NAR, Lawrence Yun, said that, “Existing-home sales have bounced around this year, staying relatively close to the current level in most months”, and he calls it "Irony" that the "affordability conditions have improved to historic highs and more creditworthy borrowers are trying to purchase homes", but, "the share of contract failures is double the level of September 2010", and he interpreted this as pointing to "an unfulfilled demand". Contract failures, incidentally, can result from a declined mortgage application, appraisal values below the negotiated price, issues resulting from the home inspection report, job loss, etc.

   In sum, Housing Starts up 10.2% from a year ago, coupled with a 11% increase in Existing-Home Sales from a year ago, would tend to point to improving market conditions. Do you agree? Do you disagree? Please explain - we'd love to hear your angle on these figures.

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

TAGS: #NewConstruction #ExistingHomeSales #Residential #Housing #Building #Permits #singlefamily #cancellations #townhome #condo #Realtor #appraisal #NAR

Fear Over The Closing Of Escrow Process?

Good Morning,

   Monday has rolled around today, and summer is fast approaching (WOW!).

   On the topic of "Heat", one of the times we sweat to most is during Closing on a property. As on Ron J. Kuhn, a Sr. Mortgage Planner, says, "Closing" or settlement or "escrow" is listed as one of the top ten problem areas that occurs in a real estate transaction. It is probably the least understood, and most feared, aspect in a property purchase. Misunderstandings about closing costs can result in hundreds or even thousands of dollars of needless expenses, and put seemingly solid deals at risk". If that's not enough to make you sweat, let's examine this topic today.

   "In general: The process is dependent upon conditions set by the lender", says Nigel Swaby of Primary Residential Mortgage, Inc.. Swaby says that the conditions are quite often set by the investor that will, "end up buying the loan on the secondary market.", and adds that With loan buybacks becoming more prevalent, "this is very, very important as no originator wants to buy back loans that can't be sold." Susan Anderson, a Broker with Inspired Real Estate, adds that, "The closing process is generally the same in any transaction, but there are some definite differences depending on whether the transaction involves a traditional sale, short sale, or REO (foreclosed property), as well as whether the(re) is financing involved or the purchase is all-cash."

   As you can imagine, each state has their own unique process, and as Swaby says, "State law will impact the closing process.", and provides the state of Maryland as an example. "Maryland has transfer taxes that are levied on buyer and seller.", he says, but adds that the state specific requirements are "handled by the closing title or escrow company."

   Anderson says that one thing that is unique in California is that, "in Northern California, the escrow and title are usually handled by the same company. In Southern California, they are often different companies. Also, the buyer gets to pick the escrow/title company and the offer negotiation determines who pays for it (usually 50/50)." She says that usually, the escrow officer is in the local community, but says that, "However, with an REO, the selling bank usually picks the escrow/title, but they also pay for it, saving the buyer a big chunk of money. In that case, the escrow is most often handled by a company out of town who is working in a 'bulk' arrangement with the seller."

   Timothy G. Kearney, a Real Estate Attorney in Connecticut, says that Connecticut is an "attorney state" which means, "attorneys do the closings as opposed to an escrow or title agent in a title state." He says that the rules, "can vary from county to county but are, for the most part, standard." Kearney says that the normal process starts with the Execution of a P&S Contract, passes through title search, scheduling of closing, and then all of the settlements and figures are compared and adjusted, ultimately reaching the closing and conveyance of security deeds.

   Anderson says that, "as an agent, I prefer having someone local handle the transaction as it provides the ability to meet face-to-face if a problem arises.", but says that "one of the very best, pleasant, most efficient escrow officers I ever worked with was a woman in Southern California assigned to an REO transaction. And, of course, in California we do not use attorneys as part of the closing process. The real estate agent and broker are responsible for the entire process. I believe have the most rigorous broker license testing in the US."

   Kuhn adds the following comment about the Closing: "This final step to your purchasing a home or property can go smoothly if you take a few precautions beforehand. Knowing what questions to ask and reviewing all documents well in advance of the closing day will prepare you for a hassle-free and smooth closing.

   Good sound advice and good information. Tell us about your state's procedures and what are your suggestions. We'd love to hear from you.

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: #escrow #realestate #REO #foreclosure #California #closing

Happy Blog Birthday And Some New Housing Numbers

Hi All,

   As the month of March has arrived, we are glad to be celebrating our 1-Year Blog Anniversary. We started the Blog as a source of information regarding our Rent to Own website, and it has blossomed into a machine that keeps pumping out info on the Real Estate Market, Housing and Economic Numbers, Rent to Own, along with experts and professionals providing their invaluable info, comments, and opinions. Thanks for sticking with us, and remember, our Blog can be delivered directly to your E-mail as soon as we post (See the right hand side for subscription options - yes, it's free, and you will NOT be on a mailing list - it is only a subscription to receive the Blog posts, we promise!).

   In the spirit of keeping the information machine running, Pending Home Sales and Construction numbers were released this week, and we would like to take a look at them together with you today.

   Pending Homes Sales dropped 2.8% from December 2010 to January 2011, and is down 1.5% from January 2010 to January 2011. It is interesting to point out that the numbers are 20.6% above the "cyclical low last June", according to the National Association of Realtors®.

   In terms of Construction numbers as a whole, they dropped 0.7% from December 2011 to January 2011, and also dropped from January 2010 to January 2011, to the tune of almost 6%. Private Construction dropped from December 2010 to January 2011, with Nonresidential Construction dropping almost 7% during that period. Another interesting point here is that Residential Construction increased by 5.3% over December 2010. Public Construction was up 0.1% from December 2010 to January 2011, with Highway Construction dropping 0.7% during that period, while Educational Construction increased 1.7%.

   Does a decrease in Highway Construction, coupled with an increase in Educational Construction indicate a stronger emphasis on building more schools vs. building more infrastructure, or is it just an aberration? What are your thoughts?

   Thank you again for being a part of our Blog and a part of our family !

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

Two Personal Traits Place Real Estate Success Within Your Reach

Hi Folks,

   Happy Friday, and welcome to the weekend.

   It's been quite some time since we sprinkled a little bit of motivation on you, and it's sprinkling time !

   I have personally received a large amount of communication over the past 8 years of running Lease2Buy.com, and a fair amount of it has been requests for advice on "how to make it" in the Real Estate business. The correct answer is that there is no one true answer.

   Let me define that: Real Estate is broken down into so many small niches, that each one has it's own targets and methods. I don't want to get into each one of them, as that is outside the scope of this discussion, however, some examples are Real Estate Investing in Residential properties, Real Estate Investing in Commercial properties, Rent to Own, Short Sales, etc.

   Now, as each of these segments can have their very own set of procedures you need to follow in order to "make it", there are two major over-riding themes (great personal traits) that you can follow, which will carry you towards your goals, and let's take a look at them here:

1. Honesty - As it is no surprise, you will not get anywhere without the grace of the masses, and the best way to receive that is by telling the truth. As sad as it is, there are a lot of bad apples who will try to deceive others, but that provides only a short time gain for them. Those who are honest will be the recipients of word-of-mouth business referrals, as well as the power of good karma.

2. Do What You Say - If you promise to make a call, attend a meeting, send an E-mail, or anything else along those lines, make sure you do it! We are truly as good as our word. For example, say a given person tells you they will send you a proposal, and it never arrives. They apologize and say that they will E-mail it within 30 minutes. After one hour, you still have not received it. What will you think about that person? It should begin to raise red flags. Don't let this happen to you - perform what you promise !

   Remember, Honesty + Performance = Integrity. Integrity will allow you to propel yourself forward toward a successful career in Real Estate, and in actuality, any business endeavor in which you are involved. I will gladly speak further about this in front of any group that you believe needs to have this further defined in relation to Real Estate and Business in General (See Our Public Speaking Section).

Keep your head up, your words true, and do what you say !

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

Real Estate Contracts from a Legal Perspective

Hi Folks,

   Friday is upon us, and most of the leaves have already fallen here in the Northeast. The trees are bare, and this can only mean one thing - bare trees. OK, so the secret is out - I'm not a comedian.

   One thing that is not a laughing matter in Real Estate are the contracts that are used for the different flavors of deals. Today, we are going to take a look at these contracts from the perspective of Rent to Own, with input from Attorneys from 3 States; Florida, Ohio, and Texas. We will preface this with the caveat that this is not legal advice, we are not attorneys, and thus the title word, "perspective", and not guidance.

   In the State of Florida, which is always a hotbed for deals, we spoke with Charles P. Castellon, an Attorney and Counselor at Law in Florida. Castellon tells us that it is important to realize that, "The applicable protections depend on whether you’re entering the deal as seller or buyer.", and he says that from the seller's side, especially in Florida, that, "it’s helpful to draft 2 separate agreements — a residential lease and option agreement.", as, "the rationale is the buyer/option holder could more easily force the owner to file a foreclosure action rather than a simple eviction if both sides of the deal are integrated in one agreement." Castellon continues to say that, "In the latter situation, a court could deem the buyer to have equitable rights giving the buyer/tenant the same rights as a mortgage borrower, thus requiring a more costly and complex foreclosure rather than a relatively simple eviction." From what I personally understand, if a rent credit is being applied to the down payment each month, the tenant is building up equity.

   Castellon says that an owner can, "write into the agreements a waiver by the buyer of any claim that the buyer may be entitled to equitable rights requiring a foreclosure case and instead agree that a breach of the lease agreement would be litigated in an eviction case only.", and that, "Buyers should seek to have a portion of all rent payments credited toward the purchase price. Building equity for the buyer and a greater stake in the rental property is beneficial for both sides, as the buyer will think more like an owner than a tenant." Additionally, he says that, "Buyers should also insist that all cost responsibilities are clearly spelled out. For example, either side can be responsible for costs such as taxes, insurance and association fees and everything is negotiable. The buyer may want to seek some kind of protection of his/her interest in the property in the event the owner fails to pay property taxes and thus risks the loss of the property to the tax collector."

   In the State of Ohio, we spoke with Troy Doucet, a foreclosure defense and consumer litigation attorney, who says that, "Ohio law requires the inclusion of about 15 different terms into any land contract in order to make it valid. Someone unfamiliar with these requirements could generate a void contract, and cost themselves statutory damages in addition to having to refund money paid." Doucet says that, "Creating a lease that provides for the ability to purchase later creates other hurdles under Ohio law, especially with regards to recording any kind of security interest in the property", and says that his recommendation is to, "always consult an attorney in drafting these types of contracts because they can be considerably problematic for the seller and buyer if not drafted correctly."

   Finally, in the State of Texas, we spoke with Attorney Patrick E. Hudson, who says that, "Rent to own laws vary from state to state", and that "In Texas, sellers used to take advantage of rent to own buyers by taking the house back when the buyer missed the first payment, even if the buyer had paid on the home for years.", but that, "the Texas legislature stepped in and put burdensome regulations on rent to own sellers.". Hudson says that the regulations, "generally provide that the buyer has to be provided notices and opportunities to cure any default before the seller can take the property back.".

   Hudson says that the state regulations are so difficult to comply with that, "many law firms advise their sellers to avoid rent to own contracts". He does, however, mention an alternative, where, "A seller can lease the property and give the renter/buyer an option to purchase the home at the end of the lease for a good price.", which, "avoids all of the hurdles of a rent to own transaction.".

   We are looking for some additional input from real estate attorneys in other states, and we welcome your comments on this post.

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

Mixed Construction Numbers and Important News for Sellers

Hi Folks,

   Good Morning and I hope your week is going well.

   As of this morning, the October figures for New Residential Construction were released, which encompasses building permits, housing starts, and housing completions.

   To summarize, both privately-owned housing units authorized by building permits and the single-family authorizations were up from September. Privately-owned housing starts in October were down substantially (in excess of 11% !) from September, while single-family housing starts were down marginally. The last piece of data shows that privately-owned housing completions in October were below the September figures, while single-family housing completions were above the September numbers.

   Now, as the subject of this post mentioned - "Important News for Sellers":

   We are offering 50 Free Seller Ads (2-Month Ad duration) - so you can list your home for Sale or for Rent to Own (a $9.99 value). Is there a catch? Not at all. Let's just call it some early "Holiday Spirit".

   If you are selling a home, how can you grab your free Ad? Just CLICK HERE to send us the E-mail address that you will use to create your ad. We will then send you a user name, password, and the link to log in and place your Ad, add images, etc. This is a very rare opportunity, trust me, so make sure you stake your claim today...CLICK HERE.

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

The Building Trades Association (BTA) Accepts Our Membership

Building Trades Association (BTA)

Hi Folks,

   Happy Friday to all of you !

   Today, we are excited to announce that we have been accepted as a member of the Building Trades Association, or BTA, which consists of member companies involved in all phases of the building and construction industries.

   BTA had invited us to submit a membership application, but I personally figured that since our segment of the industry is different than their regular types of members, that it might be a stretch. Ultimately (and fortunately), we were accepted, and I believe it is primarily due to the vast amount of Builders that list their homes on our website.

   Some of the other top brass over here were mentioning to me at our morning meeting that they think it's also about our longevity in the industry and the service we provide to the Building/Construction segment. Whatever the deciding factor(s) were, we are honored to be a part of this highly-respected trade association. (You can view our BTA Membership Certificate Here)

   On a different topic, on Wednesday the 17th, the New Residential Construction figures are being released, so we'll keep an eye on those numbers.

   Also - don't forget to sign up to receive our Blog via E-mail. It's very easy...On top of the upper right column (under, "SUBSCRIBE BY E-MAIL", just enter your E-mail address, and when you receive the confirmation E-mail, click the link. Super-easy !

May You have a Wonderful Weekend, and Happy Rent-to-Owning !
HomeRun Homes Blog http://blogging.lease2buy.com
HomeRun Homes Website http://www.lease2buy.com

UPDATED: Private Money...Any Available For Real Estate Deals?

Hi Folks,


   Happy Mid-Week to everyone, and welcome back.

   When we posted on the topic, "Best Markets For Commercial Real Estate Investing", we had a few requests to cover the topic of "Private Money", so as per your request, that is our topic for today!

   We spoke with 3 respected figures in the field to gauge their feeling on the topic. All 3 of them seem to agree that there is private money out there that is available for Real Estate deals, and we present their viewpoints below.

   Alfred Miller, President, Private Lending Solutions, LLC, states that, "Capital isn't scarce; vision is. There is tons of money available for real estate deals.", but says that he wants his, "money invested in solid deals (diamond in the rough)!" and the deals can be either residential or commercial.

   Vernon Martin, a commercial appraiser with American Property Research, who specializes in serving private lenders (96% of his work is for private lenders), says that, "There's no shortage of money waiting to be lent, but there also seems to be a shortage of credit-worthy deals.", which is similar to what Miller has said. "Most loan applications to private lenders are for refinancing deals which are already over leveraged, so there is no way the borrower can pay off existing debt at a safe loan-to-value ratio", says Martin.

   Martin also says that private lenders are, "very interested in financing REO purchases by new investors.", and provides an example, where last week, he worked "on a $35 million construction loan that is being purchased for only $5.2 million. The private lender feels safe in lending $2.8 million. The difference is that loans can be underwritten at today's market values without any disappointment to the borrowers.". Martin points out that some private lenders are looking overseas for deals in potentially "stronger markets" (i.e., "Canada, Australia, Fiji, Barbados, South Africa, Mexico, Costa Rica and Jamaica.")

   Dennis P. Fassett, a Real Estate Investor who interacts with many sources of private money, says that, "there's quite a bit of private money out there. But it's gotten more difficult to get to, despite what the late night gurus want people to believe.", which he attributes to, "the stock market crash and Bernie Madoff scandal". The impact of the crash and the scandal had a few ripple effect impacts on private lending, Fassett says, such as, "with people out of the market, there is a lot more money on the sidelines looking for a reasonable rate of return", and "the Bernie Madoff scandal has made a lot of people quite wary of where they invest their money.",and says that, it's ironic that the scandal has also helped make local real estate investing more attractive, because the investor can go drive by the asset that they either lent against or have an equity piece of."

   Fassett provides a hint into the mentality of the private investors. He finds that, "the private investors that I deal with are looking for a track record for one and a sense of stability by me as well. I'm fortunate that I have couple of dozen deals and now own or control 54 rental units in nice areas that are all doing well. I had one investor tell me that one of the reasons that he invests with me is because I have a whole lot to lose if I screw up in terms of reputation in the community.", and he continues to say that he's also finding that, "the direct approach to getting private money doesn't work anymore, as people are getting pitched to death about everything under the sun, so I have switched to an oblique approach that focuses on drawing people into being interested in my business to the point where they ask questions and close themselves."

   As the recession lingers on, Michael Stark, a licensed real estate broker in California, is clear about the future. "The greatest transfer of wealth since the Depression is underway.". Where this will ultimately channel the private funds is yet to be seen, however, we all hope and pray that it stokes our housing market and the economy. Comments are welcomed !

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





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

Best Markets For Commercial Real Estate Investing

Commercial Real Estate Investing

Hi Folks,

   Hope everyone made it through this week a few steps ahead of where you were on Monday.

   Since we always look at Real Estate and Rent to Own from the Residential angle, today we're going to take a look at Commercial Real Estate Investing, along with some information and some forecasts that could prove quite valuable for you.

   We spoke with two individuals that are quite well-versed in the Commercial Real Estate market, and we asked them about which markets are the best right now, and what the outlook is going forward.

   Our first comments come from Shari Olefson, a Real Estate Lawyer, Author, and an expert panelist who frequently appears on CNBC, MSNBC, FOX, CNN, and CSPAN. Olefson says that the best Commercial Real Estate (CRE) markets, "mirror the best - or least worst - residential markets.", and that, "Folks perceive home wealth gains or losses as more permanent than stock markets gains or losses". Olefson says that home equity gains/losses are spread across all socio-economic groups, while only the top 1/3 of Americans hold most of the stock. "Why does this matter?"; Olefson said that, "since CRE values (occupancy and rates) depends on tenants or occupants generating income which oftentimes comes (from)  folks in or near that geographic location.", and that, "When those folks feel poor they don't spend"

   Olefson offers some tips for Investors with strong staying power, in that, "they may find the best deal in longer terms non cashing flowing asset purchases from lenders. For example defunct residential projects in Florida. And particularly where FDIC loss share agreements are involved.". She also says that, "For now acquiring banks are not selling notes on these deals as the guidelines for pricing notes from the FDIC are not clear.", and , "As a result these assets are having to go thru the entire foreclosure process. But once this kink is resolved those CRE note purchases may be good values. Knowing the terms of a banks loss share agreement is helpful as during the time immediately before those expire banks will be especially eager to try to deal."

   We also spoke with Denise Beeson, a Commercial loan officer with Bay Sierra Financial, Inc., who states that, "If you are a professional i.e. MD, dentist, podiatrist, or small business owner, etc. this is the ideal time to buy your building under the SBA 504 program (10%) down, or through a commercial loan (25-35% ) down with interest rates this low.". The reason, she says, is that, "Owner occupied buildings are very appealing to the professional or business owners who have paid rent/leased and the building owners are interested in selling."

   Beeson believes that the market will continue to be, "rather 'soft' in the next 2-3 years as buyers recoup from financial problems i.e. stock market decreases, vacancies, depressed real estate prices.", and that the economy has to stabilize before you will see any active purchasing.". Beeson does go on to say that, "the private money market is prospering since commercial investors always need money to buy or refi outside of the traditional banking avenues."

   Overall, it does truly seem a mirror image of the Residential situation, but usually lags behind the events in the Residential spectrum. If you have anything to add to this, such as promising CRE markets, or anything additional, please comment below.

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

Not-So-Spooky Housing Numbers

Good Morning,
   Once again, Friday is upon us, and I'm ready to trick-or-treat...well, not me, my son (and I normally collect 10% of candy off the Gross Candy Margin - the "GCM"). Sorry, I needed to start the day with a little bit of sweet humor. OK, enough puns.

   Now, speaking of margins and indices, I just wanted to recap a few news items that were released from mid-week up to now, since we already touched on the Existing Home Sales numbers this past Monday.

   The S&P/Case-Shiller Home Price Indices were released, and it showed us that home prices slowed down in August, with a drop in the growth rates in 17 of the 20 large metropolitan areas that were covered, and 10 of the 20 city composites. Interestingly enough, the FHFA Monthly House Price Index reflected price increase of 0.4 percent from July to August.

   New Residential Sales numbers were also released, and they show a 6.6 percent increase over the revised August rate, however, substantially below September 2009 (to the tune of a 21.5 percent decrease). Comparing the August-September span for the New Residential Sales to the same period of time as the Existing Home Sales numbers from Monday (where the National Association of Realtors stated that, "Existing-home sales rose again in September, affirming that a sales recovery has begun".), things are looking up. Just don't pay attention to the last 12 months up to that period of time, since that will taint your happiness over this "housing recovery".

   Any comments? Questions? Concerns? Any specific topics you want to see covered in our Blog?

   Doing anything cool this Halloween weekend? If so, E-mail me with your exciting and scary plans for Halloween, and I'll send you a copy of "Secrets of Rent to Own". Over to you...

Have a Great Weekend, a Safe and Happy Halloween, and Happy Rent-to-Owning !

Regards,
Robert Eisenstein
HomeRun Homes
Web: http://www.lease2buy.com
Blog: http://blogging.lease2buy.com
Public Speaking Appearances: http://www.lease2buy.com/speak.php
Twitter: http://www.twitter.com/homerunhomes
Facebook: http://www.facebook.com/homerunhomes

A Sales Recovery Has Begun

Hi Folks,

   Hope you had a great weekend.

   So, the word on the street, per the National Association of Realtors, is that, "Existing-home sales rose again in September, affirming that a sales recovery has begun". This was in response to the release of Existing Home Sales data for the month of September, which showed another strong gain.

   Additionally, as the jump was a double-digit one, with a 10% increase, it would certainly seem that there is a housing recovery.

   Please keep in mind that there are also some other important numbers coming out this week:
      Tues 10/26 9AM - S&P/Case-Shiller Home Price Indices
      Tues 10/26 10AM - FHFA Monthly House Price Index
      Weds 10/26 10AM - New Residential Sales

Please stay tuned for more (good) news !

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

Mixed Message from The New Residential Construction Numbers

Hi All,
   It's time for the mid-week "Hello"...so, Hello.

   As the title suggests, the New Residential Construction Numbers were released yesterday, and it has arrows pointing all over the place. There are 3 main components: Building Permits, Housing Starts, and Housing Completions.

   In terms of Building Permits, for privately-owned units, the numbers came in below the August rate and well below September 2009. Single-Family authorizations were slightly above August. What can we tell from this component. Not much, just that the privately-owned side has taken a large hit.

   For the Housing Starts component, privately-owned starts were slightly above August and well above September 2009, while single-family housing starts were also well above September 2009.

   Finally, for Housing Completions, privately-owned housing completions were well above August, however, substantially below September 2009, while single-family housing completions were well above August. Within these figures, we can certainly see some positivity over the past month vs. the past year. However, I don't want to rain on any ones parade, but the HUD does add a disclaimer as follows, "In interpreting changes in the statistics in this release, note that month-to-month changes in seasonally adjusted statistics often show movements which may be irregular. It may take 3 months to establish an underlying trend for building permit authorizations, 3 months for total starts, and 5 months for total completions."

   OK, now onto a new topic, which is a response to a question from one of our readers, who has asked us for the locations of our other Social Media accounts. Since we are listed on quite a lot of them, I have listed the main ones for her (and your) convenience:

Twitter: http://twitter.com/homerunhomes
Facebook: http://www.facebook.com/homerunhomes
Facebook Page: http://www.facebook.com/lease2buy
LinkedIn: http://www.linkedin.com/in/homerunhomes
MySpace: http://www.myspace.com/lease2buy
Google Profile: http://www.google.com/profiles/lease2buycom
FriendFeed: http://friendfeed.com/homerunhomes
Plurk: http://www.plurk.com/homerunhomes
YouTube: http://youtube.com/user/renttoownleaseoption
ITunes: http://itunes.apple.com/WebObjects/MZStore.woa/wa/viewPodcast?id=373351426

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

Setting Goals in Real Estate Investing

Good Morning,

   I hope you've had a great week, and I hope that you have met all of your goals.

   In mentioning the word, "Goals" during our speaking appearances, we always remind audiences how important it is to set goals in anything that you do, especially in Real Estate investing. There is an entire psychological aspect behind Real Estate investing (too deep to go over in this post), and you need to assess where you stand and if you can weather the housing market "storm" before you should even list your goals and action them. Perhaps this is too abstract for this post, but always remember, we are driven by both psychology, and then by our goals. To hear me discuss this in depth, book me for your next meeting.

   Next week, we have the September numbers coming out for New Residential Construction on Tuesday (Oct 19th), and the Loan Performance Housing Price Index for August on Thursday (Oct 21st). Let's see where things are headed and let's discuss.

CONTEST TIME !

For the first 10 people who place an Ad by 11:59 PM EST Sunday Night:

We will send you a free copy of "Secrets of Rent to Own", or "Will it Work In My Town?"...it's your choice!

Where Can You place Your Ad?

Looking for a Rent to Own Home? Place Your Ad Here
Selling a Rent to Own Home? Place Your Ad Here
Selling a Rent to Own Commercial Property? Place Your Ad Here
Offering a Home Service? Place Your Ad Here

Once You Place Your Ad:

Once you place your Ad, E-mail us from the address you used to place your Ad, and let us know whether you want a copy of "Secrets of Rent to Own", or "Will it Work In My Town?".
E-mail us HERE

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



#realestate #realestateinvesting #housing #residential #renttoown
 

Short Sales, Press, Housing Numbers - A Recap

Hi All,

   Can you believe that it's already Friday? We are headed into our last few weeks of summer, and from whatever corner of the globe that you are reading this, the summer here in the Northeast has been brutal! Time to polish up the snow shovels...yes, it won't be long !

   Today, we just wanted to recap a very eventful week for HomeRun Homes/Lease2Buy, as well as to take a look ahead at next week.

   Over the past week, we have provided you tips and strategies on the Short Sale Process, provided a free widget that shows all current Ads on our website in "Real Time", and we have humbly received some great write-ups in a new American Express Magazine Article, as well as another write-up in AOL's Patch.com.

   We hope that over the past few days, we have given you some great investing tips, a handy new utility for your website, and have brought multitudes of people to our site to either offer you a Rent to Own Home or to Buy your Rent to Own Home ! In the process, I hope we have also made some new friends and helped many others to meet their goals.

   Next week, we have some additional goodies coming along (Stay tuned to this Blog). Further, there are important numbers coming out next week:

   Tuesday 8/24: NAR Existing Home Sales
   Wednesday 8/25: New Residential Sales & FHFA Quarterly House Price Index
   Friday 8/27: Revised Building Permits

   As you can imagine, these are all key numbers that will give us a sense of where we are headed in terms of the housing market and an economic recovery (recovery? lifeline?).

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

Canadian Real Estate Magazine Interviews HomeRun Homes

Hi All,

   We were just notified by Canadian Real Estate Magazine (www.canadianrealestatemagazine.ca), that they have published an interview that we did with them on the Rent to Own Market. The segment that we are featured in is exclusively included in the physical magazine, so I have attached a copy of the article as well as a link to the file on our site (CLICK HERE FOR THE STORY).

   The article covers the many aspects of what a Rent to Own is, looking at it from the angle of Rent to Own Homes in Canada, and it begins as follows, "The rent-to-own option could prove to be valuable as lending guidelines make it more difficult for Canadians to obtain mortgages. Kit Kadlec recently spoke with Robert Eisenstein of Home Run Homes, a U.S. company that helps homeowners find rent-to-own buyers..."

   The two largest markets for Rent to Own Homes are both the US and Canada, and we are glad that we are able to help people buy or sell a rent to own home in each country.

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

Housing Market, Home Building, and You

Hi Everyone,


   Hope you had a great weekend and took a little time to relax.

   We have a very exciting week ahead here, with a lot of great advertising lined up to bring even more visitors to your Ads. Additionally, there is a ton of information coming out on the strength of the Housing Market this week. Tomorrow, the New Residential Construction numbers are coming out, on Wednesday, the Loan Performance Housing Price Index numbers come out, and then on Thursday, we have both the NAR Existing Home Sales and the FHFA Monthly House Price Index numbers being released. We are holding on to hope that there will be a significantly positive bounce in these numbers, but at this moment, I just truly don't see how that can happen. I'm not being pessimistic, but it will take time, and we are not out of the woods yet.

   On Wednesday, we will begin a very exciting 3-part series that will cover the home-building process. We will have comments from builders discussing how they identify, acquire, and build homes and other Real Estate, along with perspectives from other professionals in the industry with additional points of view and comments. It's should be a treasure trove of information for anyone interested in the Real Estate market.

   We hope you have a great week, and Happy Rent-to-Owning !!!

May Residential Construction Numbers - Friend or Foe?

Hi Everyone,

Another Friday is upon us, and we are thankful for another very busy week. As a rule, I try to look back at each week to see what I am thankful for. Let me tell you - some weeks it is tough to find anything, aside from being thankful for my family! However, this past week, we not only received some fantastic media coverage (http://www.familygoesstrong.com/making-rent-own-real-estate-deals-work), but we also had a few other interviews for popular financial and real estate websites that are on the pipeline to be published as well. Additionally, we received some good karma (priceless), by hearing some very kind comments from people who have used our website. Karma, that's what it's really all about !

OK, now on to the Real Estate market, our ailing friend ! The New Residential construction numbers will be released this week (on June 16th), and most importantly, these numbers will reflect the post-tax credit market, since they cover May 2010 (the tax credit ended on April 30th 2010). I, personally, am very curious to see these numbers, and I know a lot of real estate investors, economists, and builders, who are also interested in this. This could have a significant impact on the market. Could the numbers have dropped? Sure they could have...the major incentive expired...but the market has most probably discounted this information into the mix already. If the numbers pop upwards, that could have a dramatic effect on the market, and potentially, the Rent to Own Market, as well. For more information on these reports, please check here: http://www.census.gov/const/www/newresconstindex.html


We have a few infrastructure and marketing projects drawing closer to completion, and when they are finished, we will let you know. They involve ease of accessibility, traffic incentives, and an overall boost to site traffic to increase views to your Ads on our website.


Do you enjoy reading our Blog?

If so, we would love to hear from you in the comments section below. If you don't have time to read it and you would rather listen to it, we do 1-2 Podcasts per week, and you can download them in MP3 format in our Itunes Store, at: http://itunes.apple.com/WebObjects/MZStore.woa/wa/viewPodcast?id=373351426


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

Confusing Housing Market, Residential Sales, Prices, Mobile Devices...

Hi Everyone,

We have all made it through another exciting week, with traffic to our website up another 10% from last week, and Ad-responses have been gaining further momentum. This is great news for anyone who has an Ad on our website.

Well, if you've kept an eye on the news this week, you know that there have been several mixed signals from the market and the housing sector. We have heard that mortgage delinquencies were still happening at a rapid clip through the end of March, loan demands/requests from people looking to buy homes are at a 13-Year Low, and for the people who did seek Obama's Loan Modification HAMP program, an astonishing amount of them had their trial mortgages canceled...yes, you heard me right...canceled. True, there is a lot of uncertainty now, due to the expiration of the homebuyer tax credit (which expired on 4/30). This past week, an article on CNN was aptly named, "Housing market diagnosis: Bipolar".

OK, so doom and gloom. Is there a bright side? Of course there is. There are still options for homeowners who cannot find a loan the conventional way. The possibility always exists for you to negotiate a Rent to Own with a homeowner. Ask them. Inform them of how it works, and get your attorneys involved. Homeowners, please take note as well. If you're trying to sell your home, you might be going through potential buyers faster than a termite goes through wood. One after the other drops off since they cannot get a bank loan. Be creative and look into Rent to Own.

A few changes to the site this week, outside of what we mentioned earlier in the week. We have spruced up our "Top Spot" Featured Ad pages with some images of what an actual Top Spot promoted Ad will look like.

You can check out the page for upgrading a "Home Wanted" Ad here: http://www.lease2buy.com/top_homeswanted.php

You can check out the page for upgrading a "Home Available" Ad here: https://www.lease2buy.com/top_homesavailable.php

A look ahead to the economic news for next week shows us some very important numbers coming out: Existing-Home Sales. S&P/Case-Shiller Home Price Indices, FHFA Quarterly House Price Index, and New Residential Sales. These numbers should set the tone for the summer months, and they are worth watching.

Looking ahead for our website, we will be working on "mobile-enabling" our site for the most popular mobile devices now, like the IPhone, Android, etc, and we'll keep you posted on how this is going. We have seen a significant increase in traffic to our site from Mobile Devices, and we want to capitalize on every potential buyer and seller...any one of them can be "the one" who can Rent to Own your home !!


We value your feedback; Please tell us what creative options you have been considering to buy or sell a home? Let us know



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

New Residential Construction, Loans, Referrals and Affiliates, Free Book...

Hi Everyone,

A Happy Friday to All.

Things have been simmering here at HomeRun Homes, with traffic to our website at all-time highs, and we are proud to say that we have received the most "Thank You" E-mails from our customers within one week since we began doing business 8 years ago.

OK, some important news coming out next week:

Tuesday the 18th brings the newest figures for New Residential Construction - Building Permits, Housing Starts, and Housing Completions

Friday the 21st brings the Loan Performance Housing Price Index


These are both very important numbers. The announcement of New Construction, coupled with Housing Prices, should paint a better picture of where things have been over the past few months, and if they are positive, they can hopefully continue throughout the summer and beyond.

Now, we usually like to throw some exciting promo on the table at least once a week, so we are letting everyone know that we offer a generous Referral and Affiliate program. If you are interested in learning more, please leave comments here, or you can send an E-mail to homebuyer@lease2buy.com with the subject line of "Referrals/Affiliates", and we'll send you more details. It's a great way to earn some extra money and some free months on your Ads.

As a final note, we are responding to a question from one of the buyers who has received a large amount of responses from sellers this past week. Our best advice is to make a document or spreadsheet with the name and contact info of each seller, along with the details (prices, etc) of their homes. Once you have it all down visually, it's much easier for you to make a decision and make further reminder notes once you have viewed their properties. Good luck, and we hope you found your new castle !

Remember, we are offering a Free Copy of "Secrets of Rent to Own", when you purchase an Ad of 3-Months or longer.

If you're Looking for a Rent to Own Home, you can get your very own "Home Wanted" Ad at http://www.lease2buy.com/prospectivetenants.php

If you're Selling a Rent to Own Home, you can get your very own "Home Available" Ad at http://www.lease2buy.com/prospectivesellers.php


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