Archive for December, 2008
The Biggest Losers for 2009
Oh how the mighty have fallen.
According to Case-Shiller, the National Home Price Index dropped by an eye-popping 16.6% in the third quarter. While that’s not exactly cause for celebration, it could be worse. And if their predictions for 2009 are at all accurate, 2009 isn’t looking to be a banner year either – especially if you’re investing in California.
They’ve released their forecast for next year and 8 of the 10 biggest projected losers are in California. Here’s the list, along with their best guess for how much more the market is expected to drop:
1. Los Angeles, CA -24.9%
2. Stockton, CA -24.7%
3. Riverside, CA -23.3%
4. Miami, FL -22.8%
5. Sacramento, CA -22.2%
6. Santa Ana, CA -22.0%
7. Fresno, CA -21.6%
8. San Diego, CA -21.1%
9. Bakersfield, CA -20.9%
10. Washington, DC -19.9%
If you’re investing in any of these markets, you can still make money. Will it be a challenge? You betcha. Can it be done? Absolutely.
If you don’t want to fight as hard to make money, you might want to jump out of your own back yard for awhile. I know the grass always looks greener on the other side of the fence, but there are markets that look infinitely better right now.
The good news? You can invest where the numbers make more sense to you. Where you rest your head every night has never been less important than it is right now. So take a look around. There are local real estate markets that have a downright rosy outlook. Find those markets, do your homework, and invest to your heart’s content.
2009 will be a banner year. Stake your claim on the kind of future you’ve always dreamed of. There are millions of dollars just waiting to be made.
The gold rush is well under way. It’s not too late to grab your share. All the tools you need for your very own gold mine are available at www.REIconferences.com
Blessings!
Charrissa Cawley
What Inspires You to Achieve Your Real Estate Investing Dreams?
You and I seek the motivation to achieve our real estate investing dreams from a variety of sources. It might be the memory of a treasured teacher who made a profound difference in our lives — or it could be a life-changing event that happened years ago.
I was inspired and touched recently by a short video that demonstrated the importance of never giving up. In this challenging real estate investing market, it’s easy to walk away before even getting your feet wet, convinced that phenomenal wealth and rags to riches stories always happen to someone else, somewhere else, at another time.
Somewhere, there’s a single mom raising a couple of kids because her husband checked out of the marriage when the going got tough. There is also a grief stricken man somewhere trying to find the strength to go on without his wife who was snatched suddenly from his life in a tragic accident.
These people manage to find the strength to pick up the shattered pieces of their lives and start living again. Slowly, piece by broken piece, they somehow summon the strength to once again smile, plan for the future, and become more optimistic that their hopes and dreams will become reality — even if their plans were altered by conditions beyond their control.
You’re a real estate investor.
Compared to some of the challenges that millions of others have successfully overcome, figuring out how to come to terms with a motivated seller is inconsequential. To you, however, it’s important. At times like these it’s important that you remember your commitment to continue trying even in the face of adversity.
You’ll hear the word “no” a lot more than you’ll hear the word “yes” — especially when you’re first getting started as a real estate investor. If your hopes and dreams are derailed by verbal opposition to what you’re trying to do, what will you do when you’re faced with a physical challenge — or even a bruised relationship? If you turn tail and run every time things in your life go awry, all anyone will ever see of you is your backside.
To reach your dreams, you have to stop in your tracks, turn, and fight for what you want. While it won’t be handed to you on a silver platter, you can overcome any challenge you face.
If you can’t think of an inspiring reason to dig in your heels and keep trying to succeed as a real estate investor, then check out this short video I saw recently. It’s about a man who loves life, kids, and golf. He’s not a real estate investor, but he does demonstrate the importance of never giving up. You can watch it by following this link to www.wimp.com/trueheart and then tell me how many times you can handle hearing the word “no” before giving up on your real estate investing dreams and walking away empty handed.
I’m guessing there isn’t a number high enough…
Blessings!
Charrissa Cawley
How Many Reasons Do You Need to Dive Into Real Estate?
Have you been sitting on the sidelines watching other investors play the real estate investing game? How many good reasons do you need to convince you that now is a great time to get started?
I can give you 2 trillion reasons why NOW is the time for you to quit sitting and start investing. That’s the amount of homeowner equity that has evaporated so far this year. This lost equity has resulted in a lot of homeowners being upside down on their mortgages – and looking for a quick exit.
When you factor in an economic crisis of biblical proportions, rampant job losses, and thousands of businesses on the brink of extinction, you have a nation filled with motivated sellers.
It’s true that whenever a homeowner realizes they can’t afford to keep their home, it’s a tragedy. An even greater tragedy is knowing that the very best you can hope for is a foreclosure and credit damage that’s going to follow you around like a lost puppy for the next seven years – or longer.
This is where a savvy investor can play the part of the hero in a massive homeowner rescue effort. But what can you do?
You can stand by and do nothing – or you can roll up your sleeves and get to work.
If you’re not sure of what to do, you need to take the first step. Learn winning strategies for buying some of these properties. Help homeowners find solutions for their economic problems. The government is spending money on massive bailouts for big businesses and other entities that are “too big to fail”. Everyone else is left swinging in the wind.
Are you unsure of the first step – or confused about how to get started? Don’t sit there and do nothing. As the saying goes, let your fingers do the walking…to your computer mouse and head on over to www.REIConferences.com. Let us help you take advantage of the chance to reach your potential as a self-sufficient real estate investing entrepreneur.
Do it now!
Blessings!
Charrissa Cawley
Miami Homeless Squatting in REO’s and Foreclosed Properties
Are you currently investing in the Miami real estate market? If you are and you’re tempted to buy bargain property sight unseen, you might just get an added bonus that you’re not counting on: squatters. There’s an anti-poverty group down there running around matching homeless people with vacant houses. The group, which calls itself Take Back the Land, is apparently trying to find a good use for some of the city’s empty properties.
So far law enforcement officials seem to be turning the other cheek and ignoring what’s going on. Now, I don’t know what kinds of properties these are. It’s possible they might need substantial repairs and aren’t ready to be lived in. The point is they belong to the lenders and in some cases – the government.
But what happens if an investor comes along and gets what they think is the deal of the century?
Will they have to fight to get the squatters out so they can begin the renovation process?
I’ve got nothing against finding a place for the homeless to live. I’m as compassionate as the next person. But it brings up an interesting question about who ultimately pays the cost of evicting squatters from these properties – and who’s responsible for any damages to the houses. If the properties aren’t properly secured it might be relatively easy for this group to help homeless folks to get in off the street.
But most of these places are probably locked up tight.
Without a key, how are they getting in? Are they breaking in? Or are the houses surrendering to the “will of the people” and spontaneously unlocking themselves so they can be lived in? If you’re investing in Miami – or anywhere else this kind of activity might be taking place – beware. Don’t take the law into your own hands. Be sure to research local laws to make sure you abide by the letter and the spirit of the law in the event that you buy one of these properties and discover that you have a tenant you weren’t counting on. You don’t want to have to fight for possession of YOUR property.
Blessings!
Charrissa Cawley
