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Jeff



Dernière mise à jour : 6/05/2009

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Sexe : Male
Statut : Marié(e)
Age : 31
Zodiaque: Scorpion

Ville : DUBUQUE
Région : Iowa
Pays: US
Date d’inscription :: 13/10/2006

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mercredi, août 29, 2007 

Humeur actuelle :  optimiste
With  the bottom seemingly falling out of the sub prime mortgage market, buyers who could easily have qualified for a home loan are now being turned away by banks and mortgage brokers alike. 
Self employed people, in business less than 2 years, college grads who are in between debt consolidation, and workers getting paid unclaimed cash are typical examples of land contract candidates.  They are all buyers who have the means to purchase, but can't get a standard mortgage loan for one reason or another.
 
Then there is the motivated seller.  Sometimes they need to sell- whatever it takes,  or sometimes, in the case of investors, they may need to limit their income in a certain year, or are attracted to the additional  interest income.
 
So when one such buyer and one such seller come together, a contract can be executed and everyone can end up happy.  A typical example of a land contract would be a seller offering their single family home for $100,000 and taking a down payment of 5%, then financing the remaining $95,000 at 7.5% over 30 years with a 3 year balloon.
 
The seller benefits from getting some cash in hand and receiving a monthly payment of $664.05.  Then in 3 years they subtract the portion of the 3 years payments that paid down principal and take the reminder of the sale price in a lump sum from the buyers bank after the buyer refinances.  The buyer benefits from getting into a home they otherwise couldn't and being able to refinance much easier than finding a regular loan. 
 
This is easier to do with a home that is owned outright, but may be allowed by some lenders on a home with a current mortgage.
 
I currently have 4 listings with this option available from the seller.  Usually it is possible through a 3rd party investor on any modestly price listing, also.  This will likely become a common form of financing over the next 5-10 years.
jeudi, avril 05, 2007 

Humeur actuelle :  plein d’espoir

Before I begin I have to let you know I borrowed that title.

As any dedicated Realtor would do, I recently did some research into a concern I had about an inspection.  What I stumbled upon was one of the biggest conspiracies since the Kennedy assassination.

While radon testers, radon mitigators, the EPA, and some medical and real estate professionals want everyone to believe that "Radon is the second leading cause of lung cancer after smoking" there is NO PUBLISHED EVIDENCE pertaining to residential radon levels and their relationship to lung cancer.

In fact, the only available information on the effects of Radon are studies done on Uranium miners.  The EPA funded study "Biological Effects of Ionizing Radiation VI" by the National Academy of Sciences that produced the EPA recommendation of an annual average of no more than 4 pCi/L is based solely on the Uranium miners and advanced mathematical formulas that estimate the effects in a residentail or commercial indoor setting. 

Interestingly, while the EPA recommendation (4pCi/L) is what radon specialists use as a guide to determine whether mitigation is needed, The National Council of Radiation Protection recommends a level of no more thatn 8 pCi/L indoors, and in Canada the level is closer to 20 pCi/L. 

So when Radon "is estimated to be responsible for 21000 deaths from lung cancer annually" the word estimated is not used because of some uncertainty in the exact number but because there are NO statistics for Radon related lung cancer deaths in the general public.

In fact, the actual estimates from the EPA study range all the way from a high of 32000 to a more realistic low of 3000 and more specifically, between 2900 to 2100 in non-smokers.  It is also estimated by the EPA study that approximately 1/3 of those deaths could be avoided by reducing radon in homes to below recommended levels.  This means that by mitigating Radon, a non-smoking homeowner reduces their risk of radon related lung cancer from 2 in 21000 to 1 in 21000.

Also interesting, is the fact that most mitigation is done based on the results of one or two 48-72hr tests even though according to the American Lung Association "a long term (over 90 days) test gives a more accurate annual average Radon level thatn a short term test, because Radon levels vary day to day and season to season."

To me there are way to many gaps in the science to even worry about Radon in the home.  The fact that at least "8 large scale residential studies of (Radon in) households around the world" were not used by The National Research Council in any of it's risk projection models also leads me to believe those numbers were to low to cause the necessary scare.  The scare that is needed due to the the fact that Radon specialists need to be EPA or state certified, meaning that the EPA is generating income from the certification and education of Radon Specialists, which is sure a good way for the Agency to make back the money it spent sponsoring BEIR VI.  And the best way to make sure their are plenty of specialists is to create a need for them with a low recommended maximum radon level.

Please feel free to comment on this information.  It's info you won't find from most Realtors because they are too concerned with thier exposure to liability but I am more concerned with promoting the truth.

Jeff

jeudi, novembre 30, 2006 

Humeur actuelle :  joyeux

Jobs are coming.  Condos are going up left and right in Dubuque and Bellevue and the Asbury area is growing rapidly.  Prices are steady, they're not on fire like they were so it's a great time to buy.  With the businesses that will be coming to the area the subsequent jobs will produce buyers for homes for sale.  I don't see the buyer's market lasting past spring.  If interest stays low, enough people will ignore the paper and realize that Dubuque is on a roll and start buying again.  I still don't see a lot of opportunities to flip homes unless you do all the work yourself, find a hell of a deal and have a great location, cause it's still about location.  The Dubuque area happens to be a great one but you still want the best part of it for a flip.  Rental property is a great investment here too.  The potential for appreciation as the developments in the area take shape is phenomonal, again in the right locations.  One of those locations is downtown, which also happens to be where most rental property is for sale.  That's all for now.

Please comment.

Jeff

Actuellement Je lis:
Cashflow Quadrant: Rich Dad's Guide to Financial Freedom
Par Robert T. Kiyosaki
Date de publication : 01 April, 2000
mardi, novembre 07, 2006 

Humeur actuelle :ranting

As everyone knows, today is election day.  It's suprising how many people hate the reminder calls and the negative campaigns and the way things are going at any given point in time yet we always max out around 40% of the population voting.  The other 60% just bitch about the outcome and say "That's why I don't vote."  Oh, and I realize that after a certain period of time during the day of a Presidential election that there is a good chance your vote won't count, but every other election is by popular vote, not the electoral college.  So that excuse is gone.

I agree with those fools on one thing though.  The negative campaigning needs to stop.  I would like to see the law proposed that any negative remark made in reference to a voting record during a mudslinging campaign needs to be accompanied by a full reading of the bill and it's amendments.  Yes everyone would hate it but it would really cut back on negative ads because they would cost twice as much to run and have 10% of the impact as people turned the station.

Obviously none of this is as important as the Next American Idol but it does cost you to vote for them and the Public elections are still free.  I'll stop ranting about the waste of America (those who don't vote) before I can't stop.

Later

vendredi, octobre 20, 2006 

Humeur actuelle :interested

Well I'm in my second week on MySpace and I'm not sure about the hoopla.  I thought by now a Dateline perv would've asked to come to my house by now.  Then again I'm an adult male.  The Dubuque Area Real Estate market is chugging right along.  Albeit slower than it was a year ago, but it's looking good.  No one posted any comments last blogging.  But at least I didn't gat a verbal flogging.  Anybody think I need to change my picture?

Later y'all.

vendredi, octobre 13, 2006 

Humeur actuelle :  curieux

I've fianlly entered the Bloggosphere.  It's different than I thought it'd be-- nothing like the Stratoshpere.  I can't belive I'm so 21st Century.  According to what I've read in trade magazines I'm on the forfront, yet not cutting edge, of real estate communication and technology.  All I need now is a laptop.  So when should I expect new sales leads to pour in?

Actually I'm not as stupid as that.  It was all humor.  But really, when do they pour in?

If anybody is actually reading this, thank you.  That means it's not just meaningless typing at midnight.