Archive for July, 2011

Help is Here for Jobless Homeowners Nearing Foreclosure

July 25, 2011

There have been rumors and various news reports circulating that FHA will soon be allowing unemployed Americans who have an FHA insured mortgage to miss up to 1 year of mortgage payments without being foreclosed on.

My hope in writing this article is to provide more details on this topic that is sure to prompt more and more discussions and questions.

IMPORTANT: Please note that only the customer’s current lender can give them a final answer on if they qualify under this program. The number to call is on their mortgage payment coupons or monthly statements from their current lender. (more…)

Checklist for Buying a Business

July 11, 2011

Buying a business can seem like a daunting task. I always recommend a professional business broker, since they can help you find exactly what you’re looking for. Here are some checklist items that will be necessary to get the job done:

Get the necessary financial information

Sellers must be able to provide books and records for their business. This includes business income statements, balance sheets and tax returns. All income and expenses must be traceable to original invoices. A lack of books and records makes considering the purchase of a business impossible.

Determine the value of the business

There are numerous ways to calculate business value. One method involves rules-of-thumb specifically related to the business industry. Publications are available for this information as well as online resources. You can also ask your business broker to perform a competitive market analysis. This process requires a professional that has access to nationwide sold data. A competitive market analysis provides significantly greater detail and support of value. (more…)

Best FREE Android Apps for Real Estate Professionals

July 5, 2011

Realtors and smartphones go together like peas and carrots. It’s an absolutely crucial tool for agents, since it allows them to get their email, search the web, and keep in regular communication with their clients. Nowadays, the most popular smartphones are Android devices.

There are more than 50 Android phones currently on sale in the U.S. alone. In fact, Google’s Andy Rubin – Senior VP of Engineering who oversees Android – recently said that there are more than 500,000 Android device activations daily. (more…)