Did you know that you can unlock the owner dashboard by clicking “Owner View”. Here, you can edit select items such as structural remodel date. Foreclosure investors who flip homes can increase the Zestimate by providing details such as structural remodel date and other improvements.
Simple form to increase offers and assist appraisers valuing your investment property post-renovation.
Click Here For Sample Property Information Questionnaire
My goal is to keep our real estate investors informed regarding emerging markets for opportunity and tracking/trending current conditions. In 2016 Chase Real Estate hit the $100,000,000 mark in closed transactions. We are very pleased with our investors’ performance. A majority of our investors purchased an average of 12 homes in the past year. I am grateful for the confidence you have in our firm and the opportunity to be part of your success. Our projection for the next year is positive due to the volume of foreclosed properties that will be coming to market in the Chicagoland area. There are a few key topics that investors need to be aware of moving forward. As the market changes, we as investors must change with it.
Here are a few takeaway points:
- FHA has made a major announcement regarding the condo/townhome approval process. For the past seven years, many condo and townhome developments have not been approved for FHA financing, significantly holding down values by up tp 30%. FHA recently made changes allowing these unapproved properties to be “spot” approved and making the process of getting an entire development on the approved list much easier. Our investors must pay close attention to this new change, as there are short and long-term opportunities. Look for a video coming soon to take advantage of this change.
- Townhome style units are in extreme demand. Low inventory and high buyer demand remain the same as 2016. Many investors have gravitated towards single family in the past – this is a market change, and I encourage you to adapt to this shift. Millennial buyers like the predictable payment of principal, interest, taxes and yes – the HOA payment. Townhomes cover a majority of the large dollar expenses, and buyers are not left with a large bill to replace a roof, siding, etc. and fixed monthly maintenance costs such as grass, snow, and rubbish services.
- Financing a property purchase has become rather easy with bankers and lenders offering investment funds. They are extremely confident in the real estate market. I am approached weekly by different banks and lending institutions looking for client referrals. They want the business!
- Cash-Out financing options for investors have increased allowing for the purchase of rental real estate with a cash-out option. This ties into the FHA approval process listed above. I encourage investors to identify properties located in non-FHA approved developments and hold for short and long-term gains. We expect these units to increase in value rapidly as soon as approval has taken place.
- You have likely seen a number of videos, emails, and messages regarding the importance of utilizing these quality control inspections. We have seen significant positive results on properties that were quality controlled. I encourage all investors to implement this for each investment. Investors who follow our system and utilize this part of the process sell faster and reduce deal loss.
We were recently awarded another new contract for listing REO properties. As our contact base with these REO companies expands, deal flow will increase throughout 2017.