Don’t let a bank ruin your house.

Observing the flooding from hurricanes leaves everyone with a sickening feeling.  We understand the rising waters will ruin homes and require replacing most if not all of their belongings.  There is a shared sadness felt across the country, especially when considering many homeowners are not insured to cover the damages to their properties.  Thankfully there is an abundance of effort to help those in need and some government support which can be offered during natural disasters.

At EcoLiving Property, we see another kind of disaster and it affects families and houses just the same.  According to Realty Trac there are over 600,000 homes in some stage of foreclosure in the United States today.  There are so many reasons good, hard-working Americans begin struggling to make their mortgage payments.  Unfortunately job loss, medical problems, separations and so many other problems can become the financial constraint.

During the foreclosure process a bank will not be patient with a borrower on a human level, they don’t care to understand what the circumstances are.  Banks rely on a set of rules and numbers, they eventually will evict homeowners no matter how much equity they may have in the house.

What follows is the “natural disaster” to the house.  A once loved home can sit vacant for months or even years before it is processed by the bank to either resell or put onto an auction.  Over time all the regular upkeep a homeowner would do goes undone and begins to eat away at a house.  Wood rot sets in, sediment develops in pipes, termites can go undetected and moisture grows to mold.  A vacant house can even draw vandalism and lower property values in the whole neighborhood.  The longer it sits, the more damage is done.

Below are photos of a home we recently viewed.  It is a split level family home in a cul-de-sac in a nicely kept suburban area.  It was clear the property had sat vacant for too long and will likely stay on the market for much longer.  In this case, like many others, the bank wants a certain price and won’t take any less.  It is lower than retail price but can’t be financed through a traditional loan due to needed repairs, eliminating most retail buyers.  And the cost of the necessary repairs makes the bank’s asking price too high for investors.  Unfortunately houses like this will sit and deteriorate further.

As residential redevelopers and real estate agents we see a lot of houses in horrendous conditions.  It’s always a curiosity to wonder if there was something we could have done to help, if we could have been of assistance to the homeowner during a difficult time?

We buy houses quickly with cash and can help prevent the damage a foreclosure can do to credit.  Buying houses this way even prevents the damage a bank will cause by allowing a house to sit vacant following a foreclosure.  If you or someone you know is struggling with making mortgage payments, don’t worry you’re not alone.  We want to help you and lessen the impact of the disaster in your life.

stopforeclosure

Kansas City Home Sales

soldimagesWith a decrease in inventory and an increase in sales price, Kansas City is currently in a hot seller’s market.  According to the Kansas City Regional Association of Realtors there are 27% less homes listed for sale in the Kansas City then there were just three months ago.  And the median house price reflects the greater demand by increasing 6.7% in the same time period.  If you are hoping to buy this spring, you have a lot of competition.

On the opposite side, this is great news if you are considering putting your house on the market.  You may have heard some extraordinary stories of people who list their home, have dozens of showings and multiple offers within days.  Ordinarily we would think this kind of house would be in a prime location and listed below market value to gain this kind of response.  However, this situation is occurring all over the metro and in every different price point.  The offers have been flooding in for home owners over asking price, no contingencies, with high earnest money checks and all kinds of additional bonuses to get contracts to stand out above others.

If you want to get in on the real estate action, now is the prime time to sell.  There is some up front work to consider as buyers love clean, updated homes with great curb appeal.  However, being a sellers market means buyers are willing to put money into some updating and landscaping just to get themselves to the closing table with a home.  It still would be unreasonable to think you could sell a house at a premium if it needs a complete overhaul or major repairs.

But what if your house needs updating or big repair and you still are interested in taking advantage of the current market?  It may seem overwhelming to replace a roof, repair foundation, install new carpeting or update bathrooms or a kitchen.  We may be able to help, we won’t ask you to clean, we won’t expect you to declutter for showings, and we won’t ask you to make any updates or repairs.  We make fair market cash offers, pay closing costs and close on your timeline.  And as license real estate agents, we may recommend it would be to your benefit to list your property in the traditional way to maximize your profit and can refer a great agent to serve you.  Reach out to us for more information at contact@ecolivingproperty.com or (913)333-9643.  We would be happy to answer your questions and help you with real estate solutions.

 

 

 

Have you considered real estate?

With so many HGTV and DIY shows making flipping look easy, many people have the idea real estate investing is simple and fun.  Choosing design plans, shopping for features and creating something beautiful out of what once was ugly – yes some parts are pretty cool.

In general, the thought doesn’t actually motivate most individuals into action to buy a house and begin construction.  This, as Martha Stewart would say, is a good thing.  Real estate is not as simple as it looks when trimmed into a 30 minute episode.  Unfortunately not all construction goes as planned, surprises can be hidden behind walls, permits can be stalled, and any number of things can go very, very wrong.  Experts who have invested in essential education, have systems for staying on time and on budget, and utilize a network of other seasoned investors can overcome these home nightmare obstacles without faltering.  For the beginner without knowledge about the process, these same obstacles can drive them to bankruptcy.

Okay I know this post started out scary, I promise there is an upside.

If you are a person who has an interest in real estate and realize you lack the time, energy or education necessary to take on a project there is still a way you can be involved and make money.  Redevelopment companies like, EcoLiving Property, grow business by building relationships with lenders who can fund the purchase and construction of a project.  The lender is given a first or second mortgage position to secure their legal interest, meaning the lender acts as the bank owning the property and collecting the interest.  Except you can earn double or more what a bank charges for interest on their mortgages.  The best part is, unlike your money in the bank or in the stock market, your investment is secured with the property and insured – no matter what could go wrong, you can’t lose money.

You may be wondering why wouldn’t we just get a mortgage loan from a bank, especially since the interest is cheaper.  The way our business works, we need to be able to purchase houses quickly and banks – to put it kindly – operate at their own pace.  Additionally, since the houses we purchase are distressed properties well below market value, banks cannot loan on properties without functioning kitchens and bathrooms.  Besides, we figure in the cost of paying our investor to our flips and we value their part in our business.

To review how the process works:

  1. EcoLiving Property finds an extremely undervalued property and presents you with the project.
  2. We borrow the funds from you to purchase and renovate the property.
  3. EcoLiving Property utilizes systems to complete an eco-friendly renovation staying on time and on budget.
  4. We list and sell the property.
  5. At the closing you’ll receive your principle plus interest payment.
  6. You can continue to invest in future projects and continue earning.

If this sounds like a more foolproof way to get involved in real estate investing, you’re correct!  However, we will not make money for just anyone.  We want to build investor relationships with those who have the same passion for our mission.  Our homes aren’t your typical flips, we aim to create green, energy efficient and clean home environments and hope you share this vision as well.   If you’re interested in hearing more, I’d love an opportunity to answer your questions.  Please give us a call.

 

Cash For The Holidays

Most American families begin to feel a rapid downhill pace from Halloween into winter and the end of the year.  It’s around this time when parents look ahead to realize the holidays are right around the corner and there is a need to prepare for the extra expenses.

This year for some families who already feel financially stressed, the holiday season will bring an extra burden.  Parents who are having difficulty maintaining their mortgage payments, keeping up with the utilities or deal with the relentless phone calls from credit collectors fear this season and facing disappointing their children.  It is the helplessly impossible reality too many Americans are facing.

We would like to help families find a solution to change their path, brighten their holiday season and begin the new year fresh.  As a real estate redevelopment company, we can help homeowners facing foreclosure, behind on bills and unable to maintain their property.  Our offers can be made within three days and we can close on their timeline.  A cash purchase could help homeowners to pay off debt and regain control of their financial picture.  Millions of homeowners have opted to sell their homes this way to avoid the hassles of selling in the traditional real estate market, including making repairs on the house and paying realtor commissions.  There is no obligation to find out information.  If this is something you or someone you know could benefit from, we would love to hear from you.

913.333.9643

contact@ecolivingproperty.com

Economically Freeing

Have you inherited a home you don’t care to maintain?  Is your home a drain on your finances?  Does it need repairs that are impossible to keep up with?  Is your credit being ruined by your ability to afford your mortgage and utilities?  Do you NEED to stop the foreclosure process?

You are not alone.  You do not have to be living with the stress and financial burden of owning a home.  At EcoLiving Property, we empower you to fix the economical picture and help homeowners back on the right path.  We provide you fast cash and close on your timeline to maximize the financial freedom you deserve.

Contact us for no obligation and more information on how we can help you.

913-333-9643