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Hello! This is Mike. I'm with Showcase Realty. Today, we're gonna do our webinar which is part three of our three-part agent training series on successfully selling hud homes. This segment will focus on closings and deadlines for closings with hud properties. So let's go ahead and get started.

6 Advantages
of Renting Versus Buying

The decision to rent or to buy is a common dilemma for
most adults. But the current economic conditions place buyers in a more
advantageous position than renters because it’s now actually less expensive (38%
cheaper) to buy a home than it is to pay a landlord rent. If paying less for
the place you call home is not enough to lead you down the path to home
ownership, then we’re here to help you better understand with 6 advantages of  buying vs renting.

#1 Equity Each payment you make towards the principal of your home
loan every month increases your equity; the percentage of your home that you
own. When you are renting you are actually paying off your landlord’s mortgage debt
and increasing their equity in the house.

#2 Rent Goes
Up No landlord reduced your rent,
right? As a renter you are at the mercy of your landlord.  Rent typically goes up every year. However, mortgage
payments can remain the same with a fixed rate loan.

#3 Tax Break
When filing tax returns, you can
claim mortgage interest as a deduction.   Rent payments are not deductible from income
taxes.

#4 Your
Personal Touch When you rent, you
live in a space not designed for you and without your personal touch. You don’t
have the opportunity to select paint colors, remove or add a wall or take any
sweat equity with you. When you own your own home you can make improvements to
your property based on what you want. You can paint walls any color you want, update
the kitchen, and add those special touches to your house to make it feel like
home. Renters don't have any long term benefit from investing time, money or
sweat equity into someone else's property.

#5 Appreciation As a homeowner you typically can gain from the
appreciation on your home. Repairs
and upgrades (those personal touches) to your home (especially kitchen and
bathroom renovations) tend to add value to your home. This is why homeownership
is considered the best long-term investment any individual can make.

#6 Pride of
Ownership There is a
great deal of pride, comfort and stability in owning your own home. Homeownership gives you a joy and happiness
that’s hard to describe. But some of the highlights of homeownership is having
privacy, entertaining friends and family, having pets without paying a deposit,
and the freedom start to your own garden, if you like.

HUD Homes: The Biggest Deal You Don't Know About3 Important
Steps to Remember Before Buying a HUD Home

Buying a HUD home is certainly one of the best real
estate deals available. HUD homes are actually properties owned by HUD, the Department of Housing
and Urban Development. These are homes where the owner failed to pay an FHA backed
loan that resulted in foreclosure. These properties are now back on the market
for sale, often at a great price.

However, before buying a HUD home here
are three very important steps:

1.     
Find an experienced Realtor. Purchasing HUD homes involves a lot of
details; rules for investors vs home owners. When bidding on a HUD home
homeowners that plan on occupying the home will have a slight advantage or real
estate investors.  An experienced Realtor
can guide you through the bidding process.

2.   Understand Your Financing Options. One of the most economical ways to
purchase a HUD home is through the $100 down program. Conventional loans can
also be used as well as 203-B programs or the 203k loans.

3.    Properties sold AS IS. Unlike typical homes for sale on the
market where you may have the opportunity to negotiate for repairs cost. This is
not the case with HUD homes. What you see is what you get. So do your homework,
make a licensed contractor part of your team and make sure to get a honest
estimate on repair costs. Some HUD homes only require minor cosmetic repairs.
Other properties could have extensive and perhaps hidden repairs.  

How to Win with Short SaleAre you currently facing foreclosure? Are you  planning to purchase a distressed property? There’s one thing in common between the two situations - you might be considering short sales.Learn how to win in this kind of situation by listening to this episode of “How’s the Market: Real Estate. Real Answers” with Nancy Braun, host and owner of Showcase Realty and Wes Pruitt with Reliance First Capital.Highlights:Short sale's have been around forever but recently in the last  10 years  during this recession, they’ve really became a great solution for a lot of underwater borrowers. - Nancy BraunShort sales can be a huge benefit to the borrower in a number of ways. One would be the ability to avoid foreclosure. In addition to that, it helps get rid of the negative stigma that comes with foreclosure, the embarrassment to the family, and from a lender's standpoint and from the banks standpoint, it allows them to avoid foreclosure. - Wes PruittOnly 64% of Americans own a home now, which is our lowest percentage since 1995. So if you're sitting on some 401K or an IRA or have some savings in your retirement fund, it maybe beneficial for you to rethink that and say, wow, I can be making so much more money from my investments if I buy some short sales. If individuals buy some investment properties and rent out the property, they can watch their money grow. - Nancy BraunAt this point, short sales are a very safe investment.  The return on your investment would probably be much better than sitting in bonds or in the stock market unless you really know what you're doing. Real estate is still a safe investment. - Wes PruittIn most cases, you may want to reach out to an agent or interview some agents, to find out who really knows what they're doing as far as a short sale, especially if you believe you're underwater. Before its too late its a great idea to obtain really good professional advice on how to proceed. - Wes Pruitt

4 Important Steps To Fix & Flip SuccessFixing and flipping real estate has become more and more popular. There are tons of Reality TV shows hyping the drama of flipping mistakes, contractors and unforeseen real estate nightmares. Not to fear, tune into to this podcast of “How’s the Market: Real Estate. Real Answers” with Nancy Braun, host and owner of Showcase Realty along with by Wes Pruitt with Reliance First Capital and contractor Jim Potter with Old Towne Development Corporation to talk about the four important steps to fix and flip success.Highlights:Fix and flip means to me investing in real estate instead of investing in the stock market or your IRA, or other 401K plans. Take some of that money and diversify it and put it into dirt and some, not just land but also you know, some construction whether it's commercial or residential. - Nancy BraunWhen you take a house and turn it into a gym, and you remember you took pictures, you remember what it used to look like and you see it now, and it's just a, you know, makes for a real satisfying endeavor. - Jim PotterConventional loans, Fannie Mae also has several programs available for first time homeowners as well as investors. For home improvements on properties to fix and flip, there's a tremendous amount of opportunities, a lots of money available to do that. - Wes PruittCommunication is really the key. The client really needs to explain to the realtor what it is they're looking to accomplish. That way you're both on the same page and you can really get the best of both worlds that way. - Wes PruittBudgeting is critical to the process of renovating the house that you're gonna sell because you have a price in mind that you wanna sell that house for and you probably can't go much higher than that. So you have to make sure that what you're gonna spend on the house that you're gonna buy is not gonna be certainly any more than that and you want to have a profit margin in there so you have to allow for that. - Jim Potter