Posts in Dave Reeve
Check out this news release from October 2009 outlining a program outlining how home owners might rent back a home they are losing in foreclosure.
http://www.fanniemae.com/newsreleases/2009/4844.jhtml
The obvious question is "have you heard of anyone actually doing this?" If this program has existed for almost two years, you would think that the regional real estate community would become aware of someone that has been able to use the program.
http://blogs.wsj.com/developments/2011/08/10/seven-questions-on-foreclosure-to-rental-conversions/
You can see from the article above, there are serious discussions about doing large bulk sales or create new large scale programs with major property managers overseeing government owned homes being rented.
I am hoping that someone will fill us in on a success story somewhere! The examples of this from the past were not pretty and anything but considered successful. Please let us know what you know. Thanks.
I like the theme of this Wall Street Journal article on the increased interest in Vacation Homes this year.
It makes sense for a lot of reasons, but the most important is a key to owning a Vacation Home anytime or anywhere. That is to enjoy a special place, create strong and wonderful memories for families and children. And to use a place of retreat as a way to renew, revitalize and recharge our facalties for however we spend our time back in our primary and world of work. We are especially blessed in that Vacation Homes in the Finger Lakes Region of New York State means world class natural beauty along with world class wine and wineries.
We still have a very good selection of waterfront homes in the Finger Lakes. Prices are remaining stable (not rapidly appreciating as earlier in the decade.) There also are lake view homes or homes with plenty of land to enjoy. If you want more information about the area, call. If you know more about what you might want to own in the Finger Lakes Region just let us know.
Real Estate in the Finger Lakes Region has proven to be
OK. Read the link below about the fact that there are fewer listings on the market now than a year ago.
http://blogs.wsj.com/developments/2011/07/19/in-june-fewer-for-sale-signs-on-homes/
So, why is this a good thing? Well, first of all, for all those home owners that have been hearing about all the foreclosures and competing low priced inventory - you have a window of opportunity!
Yes, if you have followed the business news (or even our blogs) you know about the many problems that the largest banks and bank servicing agencies have had processing the huge volume of foreclosed properties around the country. Well, the bank's pain is the curent Sellers's gain! Fewer bank-owned properties on the market benefits all other Sellers.
The fact that interest rates remain relatively low and the inventory is free of the "glut" of foreclosures that we know could be on the current market - creates a more positive market condition for home owners that might want to sell now at higher prices.
The old saying "timing is everything" really applies to this period in the real estate market. We truly do not know what the future holds as to market value for real estate. Will home prices continue to go down? Or will the long term trend return to real estate markets; that is that real e
There are two major restraints right now for our real estate market; one is the lending standards are more stringent than they have been and second, consumer sentiment is negative. Both probably will improve, but when?
From an objective point of view, we have a very good inventory of homes at affordable prices with interest rates very low. Even for investors, this article about rising rents should be a great backdrop to investing in residential real estate.
We stand ready to guide and assist. Please do not hesitate to contact us for more information.
There are many great things to do in the Finger Lakes. Our own Mary St. George has published this quick video for your viewing. Its summer time at Keuka Lake and all the Finger Lakes…don’t miss out!!
Find out more about The Finger Lakes or some of our Featured Properties!!
This information brought to you by Dave Reeve, Owner/Broker at Wine Trail Properties.
