YOUR HOUSE

as seen by: Yourself (photo one)


Your Lender (photo two)



Your Buyer (photo three)



Your Appraiser (photo four)



Your Tax Assessor (photo five)

Mortgage Broker Indicted in $10 Million Fraud Scheme

MIAMI, FL - Federal and state law enforcment agents, announced the unsealing of a forty-seven (47) count Indictment against eleven individuals for their participation in a complex mortgage fraud scheme involving more than thirty (30) properties bought and sold in Broward County. The fraud resulted in the issuance of approximately $10,000,000 in mortgage loans. This investigation was named “Operation Whose House,” because, as a result of the defendants’ fraud, public property records did not accurately reflect the true ownership of the properties bought and sold by these defendants.

Charged in the Indictment are defendants Yvette Scott Patterson, 40, formerly of Lauderhill and now in Jamaica, Delroy Patterson, 45, formerly of Lauderhill and now also in Jamaica, Christine Brown, 30, of Fort Lauderdale, Megan McGuire, 40, of Miramar, Roosevelt Dozier, 39, of Hollywood, Ishmael Grant, 59, of Lauderhill, Mavis Grant, 62, of Lauderhill, Adewui Majaro, 42, of North Miami, Mark Reid, 36, of Miramar, Audrey Lynch, 36, of Fort Lauderdale, and Fitzgerald Puddie, 32, of Hollywood and Toronto, Canada. All defendants are charged in a conspiracy to commit mail fraud, wire fraud and aggravated identity fraud, and with several substantive counts of mail fraud, wire fraud and aggravated identity fraud. Defendant Yvette Scott Patterson is individually charged with making a false statement in a passport application in July 2003.

According to the Indictment, the defendants engaged in a scheme to enrich themselves by obtaining mortgages from lenders using straw purchasers and through the submission of false documentation, including false loan applications, false employment verification forms, false salary statements, and false bank account statements reflecting high account balances. The defendants also allegedly used and caused others to use false or stolen Florida’s driver’s licenses, identification cards, and social security numbers as their personal identification at closings, in order to purchase property in the names of individuals whose identification documents had been previously stolen.

If convicted, the defendants face a maximum term of imprisonment of up to five years on the conspiracy count (Count 1), up to twenty years’ imprisonment on each of the mail and wire fraud counts (Counts 2 - 20), from two to fifteen years’ imprisonment on the aggravated identity fraud counts (Counts 21- 46), and up to ten years’ imprisonment on the false passport count (Count 47).

Small deposits - Large Profits

Building WEALTH in Real Estate is about EQUITY!

Is it possible to have as much as 25% EQUITY before the start of construction?

ANSWER = YES!!!

Too good to be true? How is it possible?

• Our unique program creates as much as 25% EQUITY for our pre-construction home buyers before the first shovel goes into the ground!
• This proven equity is based on an independant Bank-Certified APPRAISAL done as part of your home loan, PRIOR to the start of construction.
• Imagine 25% Equity with ONLY--
$3,500 Cash-out-of-pocket

Did you know - 40% of all home purchases in the U.S. are now Second Homes, or Vacation Homes

Our unique program has been designed to provide Real Estate Investors, Second Home Buyers and Vacation Home Buyers something that is very special - EQUITY !!

Other pre-construction investment formulas need APPRECIATION to provide EQUITY. With our formula, appreciation is a bonus, not a requirement of success.

In our formula, there is far greater investment PROFIT with far less cash out of pocket.

It can be done and we do it consistently! With tremendous amounts of research and planning, we are proud to offer this program to you.

Our program works:

Location: We build in areas that are among the best in the country with regard to climate, local recreation (golf, lakes, boating, mountains, cultural events, equestrian area, shopping)

Location: We build in areas with a strong identifiable trend of growth

Location: We get you in early, before the market peaks and every one else is there

http://www.successfulrealtor.net

The Housing Market Revealed

Could Demographics Be the Secret?

If we could see into the future, it would certainly be easier to make those life-changing decisions that keep us up at night. Where is the housing market headed? Should I advise clients to buy now, or would it be better to wait a couple of years, in case the bubble bursts? While no one has all of the answers, there are predictors we can use to make an informed decision.

The current real estate expansion began when mortgage interest rates fell into the single digits, making housing much more affordable. While this certainly has contributed to home sales, there are additional causes we can isolate. Dr. David Lereah is a best-selling author and the Chief Economist for the National Association of REALTORS® (NAR). In a recent interview, Dr. Lereah revealed, "The biggest factor that affects real estate today, and has made it immune to some cyclical changes in the economy, has been demographics." Here's why:

The "Baby Boom" Generation - This generation is the largest so far, and their impact has been felt across the nation. Now that Baby Boomers have reached their peak earning years, they are purchasing larger primary residences as well as vacation homes and investment properties. The statistics for 2004 reflect this trend, with 36% of all home sales going toward second homes.
Immigration - There has been a large influx of immigrants over the past three decades. According to Lereah, it typically takes at least a generation for immigrants to become fully active in the home buying market.
Children of Baby Boomers - This generation, the second largest ever, is now in their twenties and looking to purchase their first homes.
Retirees - While the demand for housing is expanding, the supply is decreasing. With advancements in medicine and treatments of diseases, retirees are living longer. This means that they are occupying their homes for more years, which decreases the supply of homes available for purchase.

So if the current market can be explained primarily by the factors we just discussed, how do we know whether it will continue to thrive? Dr. Lereah says, "We are in the Golden Age of Real Estate." Even if the economy should slow and interest rates increase slightly in the coming years, the demand for houses is still strong. The biggest impact that such a change would have is to decrease the rate of price appreciation. The media likes to refer to the real estate boom in terms of bubbles and balloons. In keeping with that analogy, Lereah indicates that local markets may react to higher interest rates by letting some air out of the balloon. The double digit price appreciation we've experienced may decrease over the next year or two to a more typical 4-6% range. This is still a higher rate of return than found in the stock market, all things considered.

So the next time someone asks you whether it's still a good time to invest in real estate, you can reassure them that it is.

The Realtors' Anthem - to the tune of "Shaving Cream"

I used to have regular hours,
my house and my garden looked great!
But all of that went down the toilet
when I started practicing Real Estate, isnt it great,
Buyer and sellers, they all make you wait!

(intermezzo music)

My husband has plans to divorce me,
He thinks I've too much on my plate.
Each time that he want to "get busy",
I'm running out the door to show Real Estate, isn't it great,
attorney and surveyors all make you wait!

(intermezzo music)

My buyers find me on the internet,
From everywhere they flock to this state.
They don't understand time zone difference,
So I'm the 24/7 Queen of Real Estate, isn't it great,
Call me up early, or call me real late!

(intermezzo music)

And now friends my story has ended
I think it is time I abate
If any of you want a real life,
Get a real job and stop selling Real Estate, isn't it great,
Buyer and sellers, they all make you wait!

Foreclosure happens to the ultra-rich, too!

Pop singer Whitney Houston, famous for numerous hit singles such as “Didn’t We Almost Have It All” and “I Have Nothing,” is now set to lose two of her mansions to foreclosure only a few years after the six-time Grammy Award winner signed a $100 million contract renewal with Arista Records in 2001.



Houston filed for divorce from fellow pop singer Brown in September after 14 years of marriage, punctuated by vwell-publicized drug arrests and stints in rehab.

On November 7, the five-bedroom, five-bath Atlanta mansion bought by the couple for $1.1 million in 2003 was sold on the steps of the Fulton County Courthouse.

Houston had financed the home through Wachovia Mortgage.

The mansion is already back on the market, just days after the auction, for $1.398 million.

The sale did not represent the end of Houston’s foreclosure woes, however.

The pop diva who once scored seven straight No. 1 hits now is more than $1 million behind on the mortgage of a 10-acre New Jersey estate bought for $2.7 million in 1987.

The 43-year-old Houston owes roughly $83,000 in property taxes from 2006 on the 10-acre estate to Mendham Township.

She was sued in June by the service agent for Chevy Chase Bank, where Houston had borrowed $975,000.

The estate is set for sale on January 4, 2007 by the Morris County Sheriff's Office.

The star of stage and screen is currently staying in Los Angeles to work on a collaboration album with her cousin, 60’s pop icon Dionne Warwick.

Houston is also seeking custody of her 13-year-old daughter with Brown, Bobbi Kristina, with visitation rights for the father.

REACH CLIENTS THROUGH BLOGS

     As many as 1,000 real estate agents nationwide have created blogs, or
Web logs, to provide local market information to prospective clients. I am one of them. I also have a web site.
    Richard Nacht of New Jersey-based Blogging Systems LLC told
attendees of NAR’s recent convention that blogs enable them to "start
conversations in a non-threatening, non-sales environment." At the same
panel discussion, Dallas-based agent Judy McCutchin said frequent
visitors will view those agents with blogs as local experts and eventually
"trusted adviser[s]." Although Austin-based realty consultant Bernice
Ross insisted that blogs are necessary to generate leads in the present
market, some agents expressed concern that they do not have enough
time to make frequent posts or moderate blog comments. However, Bill
French of Colorado-based MyST Technology Partners noted that their
blogs can simply display market information already included in client
e-mails and newsletters.

What do you need to have a valid contract

This is according to Florida Law. Regulations in your state may vary. Consult a competent Real Estate Attorney for further information.

1. An agreement to purchase -there must be an agreement to purchase a piece of land or a house, condo, mobile home, or other real property.

2. The agreement must be in writing- Verbal agreements are unenforceable. In a hot seller's market, many agents would not even take verbal negotiations, but wanted everything written up. Of course, by the time the agreement was written up and signed by the buyer, the property may well have been sold to someone else!! All changes on a written agreement must be initialed by all parties. Some unscrupulous sellers and their agents may try to "sneak something by" a buyer and their agent. If everything on a written agreement is not signed and initialed by BOTH PARTIES, you don't have a valid contract-just a counter-offer.

3. Consideration-some type of earnest money deposit must be put into an escrow account. The amount is specified in the contract. Proof of escrow deposit must be given to the seller and their agent ( if an agent is being used) within the time frame specified in the contract. If this is not done, you do not have a contract- you have nothing. Any of the parties may walk away from the transaction, and consider it a "dead deal".

Lease Options Explained

Definition

A Lease Option is similar to any type of "option". It gives the Optionee the right or privilege to do something. In the case of a lease option, it allows the optionee the right to purchase a home at some pre-defined terms.

In plain English, you buy the right to have the option to buy the property in between some terms that you and our company will agree upon.

Facts

The Lease Option Agreement is the quickest, easiest and least expensive way to buy, sell or invest in real estate. It replaces the typical adversarial relationship that usually exists between buyers and sellers with a win-win method of buying your own home. As a result, it is highly sought after by those who know about its powerful features and benefits, If you are in the market to buy a home, you are probably aware of the advantages home ownership provides (tax shelter, appreciation, security, etc). If you are actively seeking homes for sale on a Lease Option Agreement, you either (1) cannot purchase a home through conventional means, (2) are not ready to make a commitment, (3) are a real estate investor, or (4) a combination of the above. We provide you with many features and benefits, but perhaps the most powerful one is the rate at which you accumulate equity. Compare any lender's loan amortization schedule to that of a Lease Option Agreement and you'll quickly see that the Lease Option Agreement wins hands-down -- every time. Moreover, the buying power of a Lease Option Agreement can quickly and easily land you a home that you would never qualify for the conventional way.
Sign up for FREE to the rent to own program and tell us what is your dream home.

Benefits of Options

Our buyers range from individuals who have had some 'bad' luck in the past, i.e. bankruptcy, divorce, etc.; haven't saved enough of a down payment; new to this country with no credit history or have enough money to put down, but don't want to use all their cash towards a downpayment. When these type of situations happen to a person, it can be difficult to get a mortgage due to poor credit history or no credit history.

This type of situation can be overcome with time. A lease option gives you time to repair or correct poor credit and time to create new credit. When you lease option a home from us, your prompt on time payments in your lease option home enhance your credit worthiness when getting a mortgage. Additionally, we provide credit repair and credit building services upon request.


How We Work

Our Lease Options are all 12-24 months in length
(some exceptions can be made). Here is an example of how it works:


Examples


555 Water Street, Miami, Florida - Sales price $200,000., Option Fee $6,000., and a monthly Lease Rate of $1,500.

The $6,000.00 Option Fee gives you the right to purchase 555 Water Street, Miami, Florida for $200,000. within 18 months.

The $6,000.Option Fee is applied back to the purchase price of the property at the time you get your mortgage.

In this example, you would have 18 months to acquire a mortgage on this home. We would also reward on-time payments by giving you an additional $100. for each month your lease payment is received by the 1st of the month. This could give you an additional $1,800. to apply towards the purchase price of this home.

If you always pay on time, this example would give you an additional $6,800.towards your home. However, if you decide not to purchase the home you would forfeit all of your option considerations. Just like other options.

Therefore, you need to be sure that you want AND can buy the home prior to signing the option agreements.


Things To Consider

Talking to a loan officer prior to signing any option agreements is the best way to start your search.

Also, note that many mortgage companies may not be familiar with lease options. We will be glad to make a conference call with you and your loan officer to make sure that everyone understands how lease options work.

Rent Control: Pros and Cons

Rent control is the government imposition of price ceilings on rent for
apartments in certain areas of a city. The goal is usually to protect the rights
of the poor. Thus, in a rent controlled or rent stabilized building, the amount
of rent will not increase as quickly as inflation. While the moral side of rent
control may have some appeal, in the long run the disadvantages far outweigh the
advantages.

Those who argue in favor of rent control say that it is the only way to protect
lower-income tenants from landlords who overprice, and from being forced to move
out of a neighborhood because they cannot afford the rent. Limiting the price
that a landlord can demand helps maintain a city's ethnic diversity and prevents
the creation of slums on the outskirts of the main city. Another thing that
proponents say is that by linking rent prices to apartment maintenance and
material improvements, rent control actually improves the state of housing.
Overall, they argue that the goals of rent control can be reached if they are
administered in a careful and just way.

The opponents, though, have both theoretical and practical experience on their
side. First, rent control creates a market that is unfair for everyone. Since
the rent is set at a lower than normal level, an unsatisfied demand is created.
This increase in demand leads to an increase in the cost of rents in the
uncontrolled sector. Thus, two types of rents are created: those that are
unfairly cheap, and those that are unfairly expensive.

Another problem that is created is that landlords who own rent controlled
apartments are often not able to earn enough money to adequately maintain
buildings. This leads to run-down, poor quality housing. In many cases,
landlords lose so much money that they are not able to even pay the debt on the
properties, and they abandon them. Both of these effects have been documented in
New York and elsewhere, and go against the goals of rent control.

Finally, rent control has the bad side effect of turning away new construction.
This is because even if rent controls don't include new constructions, owners
are afraid to build any new buildings if in a few years those too will be taken
over by rent control. Rent control thus leads to less construction and an even
greater unsatisfied demand. This, in turn, increases the rents of uncontrolled
apartments even more. New constructions are also avoided because banks and
insurance companies don't want to invest in areas where rent control is in
effect, because they know that it is likely that landlords will not be able to
pay for the building, and they will lose their investment.

Building Wealth by Investing in Foreclosures

Foreclosure is a process, highly regulated by state law, in which the lender tries to recoup the amount owed on a defaulted loan by either selling or taking ownership of the property. The foreclosure process begins when a borrower/owner doesn’t make their mortgage payments, and the lender files a public default notice. The foreclosure process can end one of four ways:
1. The borrower/owner pays off the default amount to reinstate the loan during a grace period determined by state laws. This grace period is also known as pre-foreclosure, and can be as much as six months. The mortgage loan is reinstated, as if nothing ever happened. Happy ending for the homeowner!
2. The borrower/owner sells the property to a third party, either before or during pre-foreclosure. The sale allows the borrower/owner to pay off the loan. This is not as happy an ending for the homeowner, but avoids the consequence of having a foreclosure on the homeowner’s credit history. A smart homeowner who realizes that making the payments is becoming problematic will choose this course of action before things progress to the next level.
3. If the homeowner cannot catch the payment up to make them current and either cannot or will not sell the home, the lender will usually schedule an auction. A third party may buy the property at a public auction at the end of pre-foreclosure.
4. If the auction does not bring about a sale of the property, the lender will take ownership of the property, usually with the intent to re-sell. The lender can take ownership through an agreement with the borrower/owner during pre-foreclosure or by buying back the property at the public auction. These are also known as bank-owned properties, and are sometimes listed with Realtors.
Unfortunate as the reality of foreclosure is to the person who is losing their home, this turn of events creates opportunities for the investor.

For more information, please visit these links:
http://www.ezniche.com/data/article.php?l=168
http://www.successfulrealtor.net/

Pre-construction Investing

Another area of Real Estate investment is “Pre-construction”. This model works when market values are on the rise. The blueprint for success is to:
• buy a lot in an area of appreciating housing prices
• have a house built by a reputable builder
• then sell the house, making between $30,000 to over $100,000 for an executive waterfront home.
Many of my clients have done this successfully. This is where leverage and using “other people’s money (OPM) comes in. When you find an area where, according to comparable sales, single-family homes sell for $30,000 or more than the cost of the lot plus the cost of construction, you have BUILT-IN EQUITY PRIOR TO THE START OF CONSTRUCTION! This is where knowledge of the market and of appraisal methods comes in.
Wouldn’t it be great to get a piece of this action? What’s holding you back? Of all the great fortunes made in this country, more than 70% were based upon Real Estate.

“Real estate is an imperishable asset, ever increasing in value. It is the most solid security that human ingenuity has devised. It is the basis of all security and about the only indestructible security.”
For moreinformation, please visit:
http://www.successfulrealtor.net/
http://www.ezniche.com/data/article.php?l=167

Real Estate Investing in a Changing Market

Investing in Real Estate is a different ball game than buying a house in which to live. Real Estate investment is all about leverage, and using “other people’s money”.

As a Realtor in Central Florida, I specialize in making thousands of dollars for my clients, through shrewd Real Estate buys. My most successful Real Estate customer is a pharmacist in the Miami area who bought 10 acres of land for $65,000, and successfully “flipped” it six months later for $175,000.

In my market area, the ‘buy and flip” Real Estate model has been charging ahead like an out-of-control bullet train for the past four years. Now, the train has slowed down. In Real Estate terms, “buy and flip” means that you buy a property and put it back on the market within a short time after the deal has closed. Many Real Estate investors actually get a property under contract and look for a buyer of their own before they close on the original deal! I know one man, also from Miami, who has become a multi-millionaire using this formula, along with taking back owner financing for the people who buy Real Estate from him.

“Buy and Hold” in Real Estate means a longer term investment. You buy a piece of property and hold onto it for a number of years, as a “trust fund” for retirement, college education for your children, etc. If it’s a house, condo, or another type of dwelling, you rent it out while you own it to help pay for the mortgage, taxes, etc.

Wouldn’t it be great to get a piece of this action? What’s holding you back? Of all the great fortunes made in this country, more than 70% were based upon Real Estate.

For more information, please visit:
http://www.ezniche.com/data/article.php?l=167
http://www.successfulrealtor.net