Sell Real Estate FAST With A "Seller Second"
The real estate market has been showing signs of slowing and more and more properties are advertised for sale; however, one real estate transaction type is gaining in popularity and that is the "seller second".
In such a scenario, the seller holds a second mortgage allowing the buyer to purchase the home with little or no-money-down.
The down payment or a portion thereof is effectively financed with the "seller second".
Since the first mortgage balance will be less than 100% of the sale's price, there is a lower inherent risk to the first mortgage lender who in turn is willing to approve a buyer who would otherwise not qualify for a no-money-down first mortgage.
This dramatically increases the pool of potential buyers and that leads to a quick sale in today's market.
Typical minimum credit score requirements for a no-money-down loan are 580 or above; but, with the assistance of a 5% (5% of the sale's price) "seller held second", a buyer can purchase a home with a 550 credit score.
With a 20% seller held second, a buyer with a 500 credit score can buy a home no-money-down.
With a 35% seller held second, there are no credit score requirements for the buyer.
After closing, the buyer will have two monthly mortgage payments, one payment to the first mortgage holder and a second payment to the seller.
The second mortgage is typically structured as a thirty-year amortization with a five-year balloon.
At the end of the first year, the buyer can refinance the first and second mortgage into one new first mortgage and at that time the seller will recoup the balance of the "seller second".
In the meantime the seller will receive interest only payments from the buyer.
A year ago, it was a seller's market.
Properties were selling as soon as the real estate 'for sale' sign was planted in the yard.
At that time, it was not uncommon to hear of bidding wars in the driveway and the subject property would end up selling for more than the asking price.
Now we are in a different market.
We have entered a buyer's market.
Properties remain listed for sale for periods of time that exceed a sellers comfort level.
Driving down a typical street in Any Town, USA, one might see numerous 'for sale' signs and even signs reading the likes of "price reduced".
Reducing the price of a house does not significantly increase the pool of buyers that potentially qualify for financing for that property and therefore, demand remains unchanged as the result of a price reduction.
The solution can be found through offering a "seller second".
A "seller second" effectively increases the number of buyers that qualify for financing and subsequently increases the demand.
FICO statistics seem to indicate there are approximately 25% of the scorable population in this country that have a credit score between 500 and 649.
Offering a "seller second" to buyers in this range can turn them into qualified borrowers and happy homeowners.
To offer a "seller held second", a seller will need to have sufficient equity in the property.
Also, sellers need to understand that there is a risk of default by the potential buyer.
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(ContentDesk) September 16, 2005 -- The Poker Cartel, pokercartel.com, has once again stepped outside the lines to offer its members the opportunity to win cash and prizes that no other poker forum comes close to duplicating.With a promotion to give away poker tables at Noble Poker, Titan Poker and CD Poker, along with $1,000 in cash and no entry fee attached they have re-established their position at the top of the online poker forum hierarchy.
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The Luxury of a Bahama Vacation Villa
Bahamas vacation villas are the way to go if you are going all out for your vacation. Taking their places as some of the most exclusive private homes in the world, some villas sport up to six bedrooms on a fully-staffed estate. Many of the more upscale homes have been designed to evoke the style of Bahamian Great Houses from the colonial period, and f that first time visitors will not easily forget their striking architecture.
Some of these gorgeous homes start out around $425 per night, such as the Island Breeze home on the Grand Bahama island, which features three bedrooms, three and a half bathrooms, and a private pool. For anyone looking to spend more than four digits per night, there are villas such as the Tilloo Pond in Abaco. This five bedroom, five bathroom beachfront home has spectacular views of the Atlantic Ocean and the Caribbean.
It is also very private, sitting on 11 acres of Tilloo Cay, a private island. Further, the villa has three small private...
The Luxury of a Bahama Vacation Villa
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Duquesa Marketing Appointed Managing Consultants for 3-D Underwater Graphics Project
Altamonte Springs, FL (ContentDesk) April 20, 2006 -- 3-D visual technology was developed in the mid-1950s for viewing comic books and movies and has remained in use to this day. However, 3-D will be the entering a new atmosphere later this year when introduced to the market as an underwater viewing vehicle for use in swimming pools.Duquesa Marketing, Inc. (DMI) announced today that 3-D Underwater Graphics (3-D UG) has appointed the international marketing consulting firm to act as managing consultants for the final development, offshore production and market launch of 3-D UG this fall. The opportunity for 3-D UG is immense , said Geoff Ficke, President of DMI. We are designing a number of series of poster sized art to affix to pool sides and bottoms. The ability to utilize 3-D technology makes this a fun, exciting viewing experience.
People that experience it, love it. 3-D UG has home, corporate and affinity logo applications such as NASCAR, NFL and NCAA . Our goal is to have...
Duquesa Marketing Appointed Managing Consultants for 3-D Underwater Graphics Project
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National Swimming Pool Foundation?(NSPF?) Awards Research Grants and Fellowships for year 2005
The National Swimming Pool Foundation? (NSPF?) announced that it has funded three research grants and three board fellowships totaling more than $175,000 for the year 2005.
The six award recipients will perform research that helps attract people to healthy aquatic activities and protects them once they are in the water. The recipients were recognized during an award ceremony at the recent NSPF? sponsored Aquatic Health? Conference held in Atlanta, Georgia, on October 3-5, 2004.
"The foundation earns money through its Certified Pool-Spa Operator? and Certified Pool Inspector? training programs. The organization then invests aquatic earnings to seed research that can blossom into solutions," states Thomas M.
Lachocki, chief executive officer, NSPF?. "There is no other program like it in the industry. NSPF's instructors and students who make these grants possible should feel proud," adds Lachocki. NSPF extended its grant of $120,000 to the Center for Disease Control...
National Swimming Pool Foundation?(NSPF?) Awards Research Grants and Fellowships for year 2005
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10 Tips That Will Give You An Unfair Advantage At The Poker Table When Playing Texas Hold'em Poker
Copyright 2005 Giorgio Maldini
Playing poker and winning is a very difficult task to do, you can lose most of the times specially if you don't know the little dirty psychology secrets that anybody playing poker for real has to understand.
1. Don't expect people to play like you.
Even good players have different concepts about how to make a good game. Don't count on other good players to do what you would do in a certain situation. There is more than one way to be right.
2.
Look your opponents in the eye.
See who they are and study their features. Get to know them. This observation will make you fear them less.
3. Try playing in silence.
Silent play is an image play, sure, but here's something else to consider: When you play in silence, you end up holding more detailed "inner conversations" with yourself, which improves your concentration, and also your play.
4. See things as they are....
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Sell Real Estate FAST With A "Seller Second" seeds Pool table
Elite Enterprises LLC? Has an Eye on SUV Blind Spot Safety ? In the Driveway and on the Road
(ContentDesk) December 6 2003--Thanks to the dedication of three sisters on a mission to save lives, Elite Enterprises LLC?based in Aurora, Colorado?is clearly focused on protecting children from ?back-over' accidents caused by the blind spots on Suv's & Minivans. With the affordable ($20) Rear View Safety Lens?, drivers can now gain a critical margin of safety and easily avoid obstacles that were otherwise invisible?even with inside and outside rearview mirrors.Beginning as a grassroots operation...
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Sell Real Estate FAST With A "Seller Second" forex
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SportoMotoring.com Adds 'Tournament Series' Cornhole Game to its SUV Accessories Store
(ContentDesk via ContentDesk Direct) June 21, 2006 -- High gas prices have not slowed Outdoor Adventure related SUV and Truck Accessory sales at Sporto Motoring Accessories, Inc. Business is growing and they want to continue that trend. The addition of the popular Midwest game of Cornhole to its product line made sense. CornHole is the game of choice for sporting event tailgate parties, is played at many campsites, and offers family fun at every age...
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