Cash is King: If you can actually pay cash, make an all cash offer. If you are using a Hard Money or Private Money lender, make sure that you include how fast the lender can close in your contract. Be sure to include proof of funds or letter from your lender noting their time to close. No Inspections: This is not a good idea for all buyers, but if you know what you are looking at and have no intentions of making an inspections, make sure to include “no inspections” in the contract. Fast Closing: The sooner you can close, the sooner the seller and the seller’s agent gets their money and the less time you have to back out. For a very motivated seller, like a person with a vacant house, the less time for something bad to happen to the house and lower the value the better. Large Earnest Money Deposit: Forget the usual $500 to $1000, make it $20,000 or even the entire purchase price, placed in escrow at the title company. You fully intend to close and you get it back if the seller can’t perform. Good Reputation: Investors who buy a lot of properties get a good reputation for doing what they say they will do. A seller who sells a lot of properties may take your offer despite it being less than others because they know you will close. Get a bad reputation and no one will ever take your offer. ———-
REALTORS CAN NOW USE RPR TO BUILD MAILING LISTS Realtors Property Resource®, a nationwide data platform and a wholly owned subsidiary of the National Association of Realtors®, is pleased to introduce Mailing Labels as a new feature within its array of products and programs exclusively for Realtors®. RPR users can now create readyto-print mailing labels for farming, prospecting or direct mail marketing within custom geographies. Realtors can generate up to 2,000 pre-formatted labels per month for mailings to residential or commercial property owners based on any RPR search. The easy-to-create labels are available in popular formats and users can choose to export results into a standard CSV file.
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SUMMER 2019 REAL ESTATE JOURNAL The nationwide source for news & information about the real estate investor industry, is published quarterly by the National Real Estate Investors Association and circulated to over 40k real estate investors across the country. Get your copy today at RealEstateInvestingToday.com/Real-EstateJournal ———-
KCRAR MARKET UPDATE JUNE 2019 As was widely expected, the Federal Reserve did not change the target range for the federal funds rate – currently set at 2.25 to 2.5 percent – during their June meeting. Although the economy is still performing well due to factors such as low unemployment and solid retail sales, uncertainty remains regarding trade tensions, slowed manufacturing and meek business investments. Closed Sales decreased 5.3 percent for existing homes and 17.6 percent for new homes. Pending Sales increased 1.5 percent for existing homes but decreased 9.4 percent for new homes. Inventory decreased 10.9 percent for existing homes and 1.1 percent for new homes. The Median Sales Price was up 9.5 percent to $219,950 for existing homes but remained flat at $365,000 for new homes. Days on Market decreased 8.8 percent for existing homes but increased 24.8 percent for new homes. Supply decreased 8.7 percent for existing homes but increased 9.3 percent for new homes. In terms of relative balance between buyer and seller interests, residential real estate markets across the country are performing well within an economic expansion that will become the longest in U.S. history in July. However, there are signs of a slowing economy. The Federal Reserve considers 2.0 percent a healthy inflation rate, but the U.S. is expected to remain below that this year. The Fed has received pressure from the White House to cut rates in order to spur further economic activity, and the possibility of a rate reduction in 2019 is definitely in play following a string of increases over the last several years. http://kcrar.com/statistics
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