New inventory will be hitting the market which is good news for investors but bad news for traditional home sellers. www.SellMyHouse.com believes it will likely drive prices down further in an already depressed market. However for investors at www.TheDealMagnet.com and www.AmericasBestRehabs.com, christmas may come a little early this year.

Fannie Mae and Freddie Mac have begun telling real-estate agents nationwide to resume sales of foreclosed properties that had been suspended after document-handling problems surfaced over the past two months.

Fannie said Friday it had lifted a moratorium on foreclosed-property sales following a review of the affected properties it has acquired and after consulting with its government regulator, the Federal Housing Finance Agency. It was unclear how quickly sales would resume because loan servicers are still completing their reviews of paperwork.

“Our decision was motivated by several factors including the protection of buyers with title insurance, the negative impact lingering foreclosed properties has on neighborhoods and the cost burden that is placed on taxpayers when [bank-owned] sales are suspended,” said a Fannie Mae spokeswoman.

Fannie and Freddie owned nearly 240,000 properties at the end of September, valued at nearly $24 billion. Difficulty selling those homes could lead to higher carrying costs for the mortgage titans. Delays also could prompt buyers that had been under contract to lower their asking prices or to walk away from deals.

In September, Fannie and Freddie were forced to suspend sales of certain properties amid reports that documents used to process foreclosures weren’t being properly submitted by companies that handle loan servicing and their attorneys.

A memo Fannie sent to real-estate agents on Wednesday directed agents to “proceed with scheduling and holding the closings” of sales of Fannie Mae-owned homes and to work with appropriate personnel “if a title issue arises with respect to the potential defect of an affidavit used in the underlying foreclosure.”

Freddie’s memo told agents to “resume all normal sales activity.”

The mortgage-finance giants were taken over by the government two years ago and have cost taxpayers $134 billion so far. In August, Fannie told mortgage servicers that they would face fines if foreclosures became unreasonably prolonged in a bid to avoid costly delays.

Fannie said it would resume sales for properties with loans that had been serviced by units of Ally Financial Inc., Bank of America Corp., PNC Financial Services Group Inc., J.P. Morgan Chase & Co., OneWest Bank and Sovereign Bank.

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The owners behind the real estate website www.SellMyHouse.com announce the launch of the new investor website www.AmericasBestRehabs.com. The website is geared toward investors seeking discounted property listings.

This is the website that will be utilized to show investment properties to their national network of over 50,000 investors. The website will market REO, preforeclosure, wholesale, and rehab properties to investors seeking cheap houses.

Since 1995, the organization’s built by Jason Roberts and Scott Surgener have developed a reputation as one of the most trusted and respected real estate organizations in the business. Over the years, we have expanded into a national company and are considered to be one of the foremost experts in the real estate investment community, investing primarily in distressed foreclosure properties while helping our clients stop foreclosure via short sale or quick sales via our investor network.

As one of the first investment companies to control the process from lead generation to resale, the owners have spoken in front of several investment and Realtor groups all over the Country. Jason Roberts, CEO of Merida Marketing Co Inc says, “The launch of the new website will help to expand our network to all corners of the country. This gives us a platform to advertise the wholesale deals that come thru our network.”

“Many new investors get caught up in the late night infomercials and seminars being offered by gurus right now. Our job is to seperate fact from fiction and put them on the right path to make sure they have the tools needed to make money as an investor,” partner Todd Snipes explains , from www.TheDealMagnet.com.

The website can also be accessed thru their main client website www.SellMyHouse.com via the Wholesale Properties tab on the left navigation menu.

The company makes it’s money from a Buyer’s Premium which is added to the offer price. The website is operated by JKR & Associates Inc., the group’s licensed Real Estate corporation in Illinois.

Investors can get started by creating an account to list their wholesale houses by visiting www.AmericasBestRehabs.com.

The group also operates the SellMyHouse.com Radio Network which discusses everything real estate related with guests from around the Country.

More information can be found by visiting www.SellMyHouse.com, www.AmericasBestRehabs.com, and www.TheDealMagnet.com.

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We all know what has happened to both the stock and real estate markets since the mortgage bubble broke almost 5 years ago. All of us, with the exception of the big banks and select wall street firms of course, have paid the price in the form of stock losses, equity destruction, lost income, and near zero bank yields.

Over the past 20 plus years I have seen 2 stock market collapses and lived thru a real estate debacle that many call The Greatest Depression. As a manager of other people’s money, I’ve had a very difficult time balancing income and capital appreciation returns against risk. For those of you living on retirement or in the business you know exactly what I mean.

My passion has always been real estate investing. I’ve been doing in different forms my entire adult life. That business has also changed dramatically over the last few years. I’m not a believer in investing in anything just for income purposes when the overall asset class is depreciating. Real Estate or a stock has devalued much faster than the income produced from those assets. Neither has been a good investment in recent years.

So we sat on the sidelines for a few years while the real estate market corrected. Thru our real estate website www.sellmyhouse.com, we have seen firsthand what has happened to Main Street during this period. Regarding the stock market, it is accurate to say that I do not trust Wall Street anymore. I believe Main Street feels the same way when gauging the negative equity outflows that have been occurring for over 20 weeks in a row. Flash crashes, bailouts, gigantic bonus plans, and the fleecing of Middle America are all reasons.

Personally, I think it comes down to one simple reason this all occurs now. Corporate America is no longer owned by its managers. Insiders are selling in record droves. Their income comes from bonuses which are paid our long before that money is run thru the ownership chain. They no longer have the financial incentive created from stock ownership that the titans of industry had when this country became the power it was in the 1900’s. CEO’s are like hired guns now. The make millions of dollars even when the company losses billions from bad decisions. Their wealth is not tied to the performance of the stock and therein lays the problem.

For that reason, among others of course, I don’t trust the market anymore. It is manipulated to a level unseen in our history. See POMO for details on how the FED pumps money into the market to artificially raise stock prices.

Never in my 40 plus years have I seen the type of real estate opportunity that is available to the average investor looking for capital appreciation and income potential. You can buy condos in Las Vegas in the $20,000’s and houses in Florida under $100,000. This creates an opportunity to cash flow a property when 3 short years ago the term ‘cash flow positive’ in destination states like California and Arizona were unheard of.

I believe we are much closer to a bottom than we are to a top which means that if you are willing to buy a property and hold on to it for a few years you might see a very nice return from appreciation. Add to that the fact that you can see gross income returns of 7-8% per year from that property and you have an interesting investment opportunity.

We’ll be discussing the various vehicles an investor can utilize in future articles as well as on our radio show (http://www.blogtalkradio.com/sellmyhousecom). They include renting, rent to own, contract for deed, and lease purchase options. Each offer different risk levels and income potential. We’ll discuss all in detail in the coming weeks.

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More bad news out of the housing market today as Zillow, a leading online real estate marketplace, released their third quarter report and it largely echos what we saw in yesterday’s Clear Capital report – the housing market is double dipping. Home values fell an average -4.3% in the third quarter. Stan Humphries, the Chief Economist at Zillow says the housing market decline is likely to surpass the Great Depression’s decline and that prices are unlikely to recover before next summer:

While not unexpected, the unceasing declines in home values signal that we’re in for a long, bleak winter of continued troubles for the housing market. The length and depth of the current housing recession is rivaling the Great Depression’s real estate downturn, and, with encouraging signs fading, will easily eclipse it in the coming months.

Humphries also said the number of foreclosures reached a new all-time high and that the number of homeowners under water on their loan has now reached 23% – a high this year. Humphries is not optimistic:

The high percentage of homeowners in negative equity continues to be troubling, in that it represents a huge number of people who are not only more vulnerable to foreclosure, but who are essentially trapped in their current homes and are prevented from selling and buying a new home. This has profound implications for future demand and will be a millstone around the neck of the housing market.

The housing market is playing out almost exactly as I’ve expected in recent years. This still remains a simple supply and demand story. The overhang of inventory is crushing meager demand and the mortgage mess isn’t helping matters as shadow inventory is pushed further into the future. If you thought the housing crisis in the USA was behind us you might want to think again. Housing was the domino that set the credit crisis in motion in 2007 and it could pose a very serious risk in 2011.

Source: Zillow

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