Hello and thank you for joining me for this brief discussion.. If you are looking to purchase a property currently in July 2007, you may not have realized but working with an agent who handles short sales and foreclosures, like myself, you can have access to 5, 10 , or even 20 homes in the area you are considering buying in.. How would you like to enter into the American Dream of home ownership knowing you bought the property below market value obtaining instant equity when you purchase your next home in Connecticut or Massachusetts.. all you have to do is get prequalified for a loan and make some strategic offers. I can help.. please visit my website http://www.ctpropertyleads.com - I can make your next home purchase an investment.. Remember you make money when you buy a property and realize your profits when you sell or refinance ( tax free ).
Call me to discuss these and many more lucrative real estate opportunities. I specialize in CT, MA, & RI
www.CTpropertyleads.com - Find a deal on your next property purchase
Phillip Tsouridis
Atlas Realty Investments, LLC - Putnam, CT
860-428-7366
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When to call a professional -
Are you facing Foreclosure or Behind on Payments ?
If you owe more than your home is worth, or you have very little equity in your home (and you live in a buyers market), it may be time to give your home to a qualified pre-foreclosure professional.
Investors, like myself, will take your bad no equity deal, negotiate it with your bank for a short sale on your home where I or one of my many investors can even buy it outright. We do all the paper work and handle negotiations ultimately to stop your foreclosure and save your credit. Many times we will even buy personal property you want to sell, to help get you money to get you moved.
You should not wait to the last month to call us. We need to start the negotiations with lender ASAP. So when you are 120 days from loosing your home (in a market that takes 121 days or more to sell) it is time to call a expert to help you out of your jam.
Phillip Tsouridis
860-428-7366
Realtor/ Investor
Serving - CT, MA, & RI
Windham County CT, Worcester County MA, Providence RI
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A lovely home in Thompson Connecticut - 29 Buck Hill Road - 3 BR / 1.5 Ba
Are you looking for a home in Thompson Connecticut?
Have you seen this one ?
29 Buck Hill Road, Thompson CT
Well this may be the one for you, this lovely ranch offers the ultimate in privacy and wildlife. This property is in the northeast corner of Connecticut just over the border from Rhode Island and minutes from Massachusetts.
To tell you a little more about this property it is approximately 3 BR/ 1.5 BA - 1248 square feet, on 8.160 acres, and has eight large rectangular pool for entertaining. See our virtual tour by clicking here http://philliptsouridis1.point2agent.com/Listing/VirtualTour.ashx?listingid=1352529
A new renovation is the addition of ½ bath just off of the master bedroom.
The painted interior colors are handpicked with excellence and painted quite professionally.
And additional bedroom the 4th - is 95 plus percent completed only needing to heat to be done on lower level.
There is also a recent addition of an enclosed porch / sun room area. Some drywall, paint, and a little carpet would complete the sun room area adding additional square footage to the living area of home.
I think you'll find this interesting property paradise for wildlife lovers, hunters, and people wanting plenty of privacy. In addition the area and neighborhood is one of the best Thompson Connecticut has to offer..
The listing on CTMLS is here : http://ctmls.mlxchange.com/Pub/EmailView.asp?r=551219539&s=HFD&t=HFD
For more information about this great property feel free to contact me directly.
I can be reached at (860)-428-7366
It is preferred 24 hours notice to show, but shorter notice may be acceptable.
I welcome your inquiry and look forward to speaking to you about this property.
Special Agent - Phillip Tsouridis
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December 21st, 2007 -
H.R. 3648 Mortgage Foregivness Debt Relief Act 2007
Today, President Bush signed the Mortgage Forgiveness Debt Relief Act of 2007, which will help Americans avoid foreclosure by protecting families from higher taxes when they refinance their home mortgages. This Act will create a three-year window for homeowners to refinance their mortgage and pay no taxes on any debt forgiveness that they receive. Under current law, if the value of your house declines, and your bank or lender forgives a portion of your mortgage, the tax code treats the amount forgiven as income that can be taxed. This Act will increase the incentive for borrowers and lenders to work together to refinance loans and allow American families to secure lower mortgage payments without facing higher taxes. Read the whole story here…Thousands of home owners were waiting for the Senate vote on HR 3648. It is the Mortgage Forgiveness Dept Relief Act of 2007. Here is a copy of the actual bill. HR 3648 Mortgage Foregiveness Debt Relief Act 2007 The bill will be retroactive applying to anyone that has had mortgage dept discharged or forgiven back to January 1, 2007 from foreclosures or short sales. Congress passed the bill on October 4, 2007. It passed with votes 386 to 27. The President asked for the legislation so the Senate passed it quickly.This bill will help the insolvent homeowner from taking an addition beating on a 1099 IRS gift of their short sale or foreclosure. In the past only a bankruptcy would protect the homeowner from the taxation of a 1099 short sale or foreclosure debt.
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This is a great article about the top 20 metro cities and how they are doing. This is a MUST READ BOOKMARK AND SAVE.!
Some cities are still dropping but some have started to bottom out. Some have held steady.
You need to pay attention to the national picture. There are some good places to invest if you do your homework. Not everything is a disaster. There is money to be made when the blood is in the streets.
National home prices fell 8.9%, according to figures released Tuesday by the Standard & Poors/Case-Shiller Home Price Index.
“Wherever you look things look bleak,” says Robert J. Shiller, Chief Economist at MacroMarkets LLC, which recently sold its rights in the indices.
Of the top 20 markets tracked by the Index, 17 of the metro areas reported annual price declines and the remaining three reporting flat or moderate growth rates. Also 14 of the metro areas are reported record lows and eight are in double-digit decline. Here’s a look at these markets.
Boston
The median home price for Bean Town only dropped 1.9% in the fourth quarter to $380,700 from $388,000 a year prior. "We are beginning to see the first signs of a recovery in Boston," says Chris Remmes of Keller Williams Realty. "In 2007 both average and median prices were up 11.2% and 4.4% respectively in the Downtown condo market (Back Bay, Beacon Hill and the South End). Other neighborhoods in the city have seen prices stabilize. Inventory is down in most sections of the city and by as much as 45% in Charlestown."
List price: $429,000. whole story
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3/12/2008
10 Reasons For Investing in Foreclosure Properties
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Highly motivated sellers.
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Sellers facing time deadline, did I mention motivation.
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Deep discounts. You’re able to buy for as little as 60 cents on the dollar.
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Low risk. This is simply because you’ve been able to do research, run sales comparables (comps), and evaluate the property. You know about what the house is worth.
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Plenty of leads. There are new leads every just about every week especially with rising foreclosure rates.
- No commissions on the buy side. I charge no fees to my clients receiving any and all commissions from the seller of the property plus we look out for the best interest of YOU when siging up for buyers representation agreement with me.
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Few competitors. Few investors enter this area, simply because of FEAR (False 9. Evidence Appearing Real), and because it’s a complicated business. Sure, there are many that try. But few do it as a business full time.
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Quick closings. It is possible to buy, sell, and close a house within 30 days.
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Quick growth
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Instant equity!
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For more information on Forclosure leads and Bank Owned Homes in Windham County CT - Call Today - ask for Phillip - 860-428-7366
Connecticut Foreclosures - Putnam, Brooklyn, Killingly, Dayville, Woodstock, Canterbury, Thompson, Danielson, Scotland, Ashford, Eastford, Willimantic, Norwich, Uncasville, Baltic, Griswold, Jewett City, Moosup, Sterling, Hartford, Southington, all CT regions.
Massachusetts Foreclosures, Worcester County, Worcester, Auburn, Oxford, Webster, Southbridge, Dudley, Sturbridge, Palmer, Sturbridge, Brookfield, Charlton, Milford, Milbury, Franklyn, Uxbridge, Douglas, Northbridge, Spencer, Boston, all Massachusetts regions. MA
------------------------------------------------------------------------------------------------------Connecticut 8th Highest Foreclosure Rate in the Nation
Feb 28th, 2008
Connecticut ranked eighth in the country for highest foreclosure rates in January, including 3,697 properties with foreclosure filings. That's a nearly 185 percent increase from January 2007.
The top 10 states with the highest foreclosure rates are: Nevada, California, Florida, Arizona, Colorado, Massachusetts, Georgia, Connecticut, Ohio and Michigan. The number of homeowners facing foreclosure nationwide jumped 57 percent in January compared to a year ago, according to an Associated Press story released today.
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Connecticut Foreclosure Laws
3/16/2008
Connecticut Foreclosure is Judicial.
Connecticut foreclosure has two distinct types of judicial procedures: Strict Foreclosure and Foreclosure By Sale.
Connecticut Foreclosure Timeline
|
Day 1-15 |
Day 30-75 | Day 90-150 |
Day 180 |
|---|---|---|---|
|
Title search ordered; Complaint and Summons issued |
Service completed, Complaint filed on return date; |
Judgment entered; |
Sale confirmed |
Judicial Foreclosure Steps
Connecticut foreclosure begins when a Lis Pendens is recorded with the court and a Complaint for Foreclosure is served on the mortgagors and all parties claiming an interest in the property (defendants) at least 12 days before the Complaint is filed with the Court on the "Return Date" (Day 30). If the whereabouts of defendants can not be determined, multiple newspaper publications may be required by the Court.
From Return Date, in-state defendants have 2 days to file an Appearance, out-of-state defendants have 90 days unless actual knowledge of action can be proved. Connecticut foreclosure law states that if Appearance is Pro-Se, meaning the defendants are not represented bdefendant has 15 days to Answer. If Appearance is by Counsel, defendant has 5 days to file a Disclosure of Defense following the filing of a Demand for Disclosure of Defense by the plaintiff. Several "waves" of Default Motions are usually required before they are all granted and the case claimed for judgment (Day 75).
Judgment of Strict Foreclosure is typically entered (Day 90) by the Court if there is no equity in the property above the debt being foreclosed. There is no sale. The mortgagor is given a law date by which he must pay off the debt or lose his interest. All other defendants are also given law dates. Upon failure of payment, title automatically vests in the foreclosing mortgagee on the "vesting date" (Day 150). The period between judgment and the vesting date is the redemption period and is discretionary with the judge. Hardship cases may prolong the redemption period.
Judgment of Foreclosure by Sale is typically entered by the Court if there is equity in excess of the debt being foreclosed (or if there is a federal lien). The length of the redemption period between judgment and sale date varies in the discretion of the judge. Confirmation of Sale takes at least 30 days (Day 180).
Connecticut foreclosure law states that tenants whose identities are known and who are served at the onset of the foreclosure action may be ejected by obtaining an Order of Ejectment in the foreclosure action. Tenants whose identities are not known must be served in a separate Summary Process Action.
Deficiency Judgment for the difference between the total debt and the appraised value of the property may be obtained only if a Motion for Deficiency Judgment is filed within 30 days after title vests in the foreclosing mortgagee in a Strict Foreclosure. In a Foreclosure by Sale, a deficiency judgment may similarly be obtained for the difference between the total debt and the net proceeds of Sale.
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More Banks Consider Short Sales
After about a year of dealing slowly and reluctantly with short sale offers, many banks are reconsidering, looking for solutions that will allow them to recoup debt in foreclosure situations.
Observers say that if the trend continues, it will reduce or eliminate the need for taxpayer bailouts.
The National Short Sale Center, which helps short buyers negotiate with banks, says three-quarters of its short offers are approved now, up from maybe half six months ago.
"Before, people on the phone at banks didn't even have the authority to negotiate. Now they're calling us with numbers," says Pam B. Canada of nonprofit NeighborWorks in
To be sure, many agents and counselors think banks still have their heads in the sand. "They're out to get the last dime, even when people don't have a dime," says real estate practitioner Heidi Mueller in
Source: Forbes, Bernard Condon (04/07/08)
Feds Charge 19 With Mortgage Fraud
Federal prosecutors announced 19 indictments Monday in a mortgage scheme that stole nearly $13 million in home equity and victimized more than 100 home owners.
Under the scam, home owners facing foreclosure were promised lower home payments and cash up-front if they agreed to add another name to their home's title. The victims were led to believe they were paying rent to the investors to give them time to get their affairs in order, according to officials.
Prosecutors say the scam was headed by Charles Head of
In all, prosecutors say Head defrauded 115 financially strapped home owners in 22 states of at least $12.6 million. The fraud began in and continued through 2006.
Victims ranged from first-time home buyers to the elderly and cost 90 percent of the victims their homes, said Assistant U.S. Attorney Ellen Endrizzi.
Source: The Associated Press, Aaron C. Davis (03/24/08)
Second Mortgage Borrowers Struggle
Home owners with both first and second mortgages are finding it increasingly difficult to refinance.
Some of the nation's largest lenders, including National City, that hold a second lien on a property are refusing to sign off on requests to refinance the first note.
Nancy Gusman, a real estate lawyer in suburban
To get around the problem, a borrower has to qualify for a new first mortgage big enough to pay off both the first and the second lien, which for many would be difficult.
Source: Washington Post Writers Group, Kenneth R. Harney (03/01/08)
Cohousing Grows in Popularity
Advocates for cohousing, a term used for private housing developments that include common facilities and offer communal meals and other shared benefits, say interest in these types of communities are growing as people cope with increasing economic pressures and face developing concern about the environment.
The most cohousing communities can be found in
Between 1991 and 1995, 16 completed communities registered with the Cohousing Association of the
In the 1960s, similar communities were usually found in rural areas, but most of those developing today are in cities.
"Now it seems as though the movement has moved very urban," says Kelly Scotthanson, chief executive of Cohousing Resources, a cohousing development consulting company with offices in Washington state and Boston. "People are looking for more of a community within the context of a city environment.
Source: The
Million Dollar Homes at Bargain Prices
Now could be a great time to buy a million dollar home in a nice area at a bargain price.
Forbes magazine has identified Rancho Santa Fe, Calif., Marco Island, Fla., Castle Rock,
Traditionally good borrowers with strong credit scores previously purchased a lot of these homes. In many cases, the foreclosure has come about because the homes are now worth significantly less than the inflated prices the owners originally paid. The homes have sunk into negative equity situations and the previous owners don't want to make the payments, so they walk away, says Wendell Cox, founder of Demographia, a housing research company.
But foreclosures are not all bad news for the high-end real estate market. Nelson Gonzalez, a practitioner with Esslinger-Wooten-
"They think that every house in
Source: Forbes, Matt Woolsey (03/13/08)
Interesting Real Estate Investing Website, Articles, Tips, & Strategies
How to invest in todays market - http://www.desiregoji.com
