The Flip Board

Falling real estate prices may have you thinking it’s a great time to apply the Golden Rule of wealth creation — buy low, sell high.

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Investors who want a good deal in real estate usually think first about pursuing foreclosures. They have this picture in their mind of a cute little house, surrounded by a white picket fence that is owned by a widowed mom who fell on hard times. Get that out of your heads, NOW. Read the rest of this entry »

Yesterday I was speaking with a frustrated friend who’s listing had expired.  He said “even my agent says this market sucks!”  I told him if that agent worked for me he/she would be fired. PERIOD.  If your real estate professional is whining about the market and using it as an excuse, then get rid of them.  No matter where you are in the country, people buy and sell houses and other properties every single day.  Read the rest of this entry »

If you think you might have set the asking price for your property too high, you probably did. But if you need a guide so you can tell if the house is overpriced, Look below:
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Currently the market in the US is finding itself in a depression, the low part of the real estate cycle. While many are reluctant about real estate investments, you guys, FlipBoard readers, should have the upper hand over the competition. Read the rest of this entry »

Hey folks! Want a free tool for advertising your rentals or properties for sale? Read the rest of this entry »

Well, the big home builders have reported earnings now. Both Toll Brothers and Hovnanian were down. And congress is scrambling to find a politically sound piece of legislation to pass to make themselves look like heroes.  When, in actuality, to look like heroes, they simply must leave things be.

People are waiting for this magic bottom in the market. This bottom is going to signify the end of struggle and nothing but massive profits from here on.  But, I doubt it will happen like that.  I believe the recovery in the housing market will happen sporadically, slowly and in specific locations.

Don’t believe it?

Just look at Florida. South Florida, to be exact.  The vast majority of existing home buyers are coming in because of either the price came down enough, or the price came down enough.  Remember, Florida had one of the worst foreclosure rates in the country. Fast-forward to today, most first time buyers are breathing a collective sigh of relief when that $700,000 dollar home came down to $300k. Everything is fine and should’t be tampered with.

So, why would anyone mess with simple market forces?  Hmm…

Check it out… Wikipedia has an excellent step by step guide to the 1031Exchange process.  Enjoy!

http://en.wikipedia.org/wiki/1031_exchange#How_a_1031_exchange_is_accomplished

Brought to you by The Flip Board!

My email has been bombarded with questions about 1031 Exchanges. Apparently, my post discussing this was somewhat of a huge hit. To date, I am still seeing hundreds of hits to this post even though it was written 5 months ago.  I guess anytime you talk about deferring paying taxes, people really perk up! Ok. I’ve always said that the customer is always right. So, now I am going to give you more of what you want.

Here is my list of things to remember if you are looking at utilizing Internal Revenue Code section 1031. Read the rest of this entry »

Toll Brothers, one of the nations largest builder of luxury homes, released earnings yesterday that were pretty low.  They registered a loss of $93.7 million versus a profit of $36.7 million a year ago. Read the rest of this entry »