Atlantic police officer who fatally shot city remembered as the local basketball star and "man tolerante''oficial Atlantic City police, Kevin B. Wilkins, who died of an accidental shooting of his service weapon during the service Thursday morning, was a former basketball star school that was preparing to marry and buy a house. His former coach, Gene Allen, Wilkins said was "like a son to me." American Idol HouseMaster Home Inspection – Phoenix
Six inch handheld fluorescent battery operated black light fixture that is portable and lightweight. Works with 4 AA batteries (not included).
Black lights can be helpful for the following:
Antique inspection;
Art forgery/repair tests;
Club hand stamp screening;
Fabric and Textiles;
Fluorescent dye leaks;
Forgery Detection;
Glass and glass repair inspection;
ID and document Verification; …
I have been reporting recently on a National scale about the Residential Real Estate market and the adjustments we are going through. The market is showing continued record sales, declining new home building permit applications, persistent rising unemployment, with Trusts and Banks dumping their inventories at alarming rates which is supporting those sales numbers.
Well today I am going to zero in a little closer on my neighborhood as it is one of the most affluent in the entire Country, if not the World; and that is Orange County California. Orange County has relative low unemployment, yet it experienced the Real Estate bubble along with the rest of the Country. As a matter of fact (as you will see in the quoted article) Orange County is ranked #5 of all of the Counties in the Golden State of California in Foreclosure and Trustee sales, who would have thought it? None the less, the facts bear it out. So you never know where you are going to find these great deals that I have been writing about until you do your research.
Now the interesting thing about a Trustee sale is that the lender has been trying to market the property and most likely had a property manager caring for the site. What this means is there is a good chance that it is in very good condition, the repairs have been made, and their new orders are to get rid of the property no matter what. That does not change your DMO (daily method of operation), you still get your inspector out to the property, you still get your current comps from your appraiser, you still check with the county recorder to make sure there are no other liens to worry about, and you still get your investors in line.
I know many of you think this foreclosure business is hard, but it is not. I went to an open house on Broadway St. in Costa Mesa. The Broker told me the home across the way just went NOD for over $1+ Million and had a big area to add on to this small 2BD, 1BT house. I told him that I thought the lender would realize their mistake and sell that on 30 to 40 cents on the dollar; he said no way, he had been in the business 30 years in the area and did not think so. Well in came on the MLS list at $770,000 and I am guessing will be at a Trustee sale at $400,000+ a little.
We are still in a declining market and the lenders know it now and they are tired of hanging onto these properties, ready to deal.
DISCOUNTS ON TRUSTEE SALES (see my BLOG sloehr.com* for details and links)
“Dropped Bids” at the foreclosure sales are providing incredible opportunities for everyday people to buy …* at significant discounts. As you will recall, the “Estimated Minimum Bid” is the dollar amount of all monies owed to the foreclosing lender, and is disclosed on the Notice of Trustee Sale (NTS) which is recorded in the county where the property is located. Right before the auction, many lenders lower the opening bid at the sale, creating a “Dropped Bid” in order to quickly market the property. The following are examples of the dropped bids, and what happened to those properties when no-one bid at the sale:
Foreclosures in Newport Coast:*
Sale Date Minimum Bid “Dropped” Bid Current List Price
7/15/2009 $1,215,188 $756,140 $911,000 [45% disc]
Foreclosures in Huntington Beach:*
Sale Date Minimum Bid “Dropped” Bid Current List Price
5/27/2009 $633,561 $423,000 $500,000 [35% disc]
6/4/2009 $526,426 $380,333 $447,900 [28% disc]
Foreclosures in Fountain Valley:*
Sale Date Minimum Bid “Dropped” Bid Current List Price
5/6/2009 $417,203 $250,875 $324,000 [41% disc]
Foreclosures in Westminster:*
Sale Date Minimum Bid “Dropped” Bid Current List Price
7/10/2009 $608,265 $540,098 $589,500 [22% disc]
.Foreclosures in Laguna Niguel:*
Sale Date Minimum Bid “Dropped” Bid Current List Price
2/11/2009 $759,475 $595,000 $650,000 [22% disc]
5/4/2009 $747,146 $427,500 $589,000 [43% disc]
(Source: .CountyRecordsresearch.com)*
Overall, the number of Trustee Sales with “Dropped bids” in the 2nd Qtr of 2009 is up 75% compared to the 4th Qtr 08, and correspondingly the number of properties sold to third parties at the Trustee Sales in the 2nd Qtr 09 is up 134% over the 4th Qtr 08.
So what does all this mean to you? It means that this is the time to buy; start doing your research on properties going to sale, track the dropped bids, and begin buying foreclosure properties in Orange County for below market value. Kurt DeMeire, founder and CEO of …*, is quoted as saying “This is the best opportunity I’ve seen to buy real estate in over 25 years”.
Those numbers account for approximately 6% of the NOD’s filed in the state of California (ranking Orange County #5 in the state), and approximately 5% of the NTS filed in California (ranking OC #6 in the state). What this volume of orange county foreclosures translates into is an unprecedented opportunity to buy properties for below market value.
These are just a few of the 125+ different properties that were purchased by people just like you at the… this week alone.
To take advantage of this market you need to know which properties are in foreclosure; you must be able to identify the foreclosing loan, track scheduled and postponed sales, and to super charge your profits you need to know which properties are being offered at a “dropped bid”. For over 28 years, the staff at …has been helping people buy Orange County real estate for below market value, providing current high quality data along with the kind of one on one customer service you’d expect from a company in business for 28 years.
As you can see from the actual sales reported data there is no area immune to today’s Real Estate adjustment situation. You can choose to sit on the sideline and watch it happen or participate and profit from it, the choice is yours.
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