Florida Home Buyers and Investors Blog

Bank of America now the nations largest lender (I think) is getting aggressive on lending again.  I guess the Countrywide holdovers are moving their free wheeling lending to the BOA side.   Investors are pouring into BOA for loans that other lenders are not even entertaining.  

With the current level of Short-Sales, banks are taking huge losses(like it or not), and just like the Stock Market, there are winners and losers.  Right now, the buyers are the winners. 

Real investors are back in the market that they have long abandoned.  Just ask Robert Kiyosaki (Rich Dad-Poor Dad).  He avoided the housing boom like the plague.  If the property does not generate positive income, it's not a deal. 

Investors and Banks are at odds about values and the MLS price is NOT necessarily what the bank will accept.  Unfortunately the MLS is a big mess right now.  Agents are throwing very low prices on Short-Sale property just to get offers, and the banks are pushing back big time.

Agents need to be realistic in their approach to selling Short-Sales, along with Buyers and Investors.  Making an offer 30% below MLS listing price on an already highly discounted property is a total waste of time, energy and effort.  I won't even entertain an offer I feel has absolutely no chance of being accepted, and banks will not even counter.

I will submit a How-To guide on purchasing and selling Short Sales in the next few days that I believe will be extremely helpful to both sides.

Now o out and find a great deal!