Vestport Logo
 Boston  Commercial/Residential
        Property Solutions
Tuesday, 09 February 2010
Main Menu
Members Login

Last Update 12-14-2009

Interest rates are at an all time low, government incentives are in play and plenty of sellers with properties for sale. Do I need to draw you a road map here. Yes, it is absolutely the time to buy if you can. I say that with the disclaimer that you can't put all your eggs in one basket and need to be able to tough out a bad market for a while too. If you can then the payoff will most likely be worth it in the long run. I think that many people will be saying should have, could have, would have when things finally rebound and the dust clears. The problem is several fold. Lenders are still looking at investors through a microscope versus no doc loans that were so popular up until fairly recenly as well as 100% or near 100% financing that is for now a thing of the past. If you have existing properties with equity then you are probably better off to refinance rather than go for a new loan. Lots less work on your part. Especially if the property that you refi is a primary residence. Other problems with the current market are that many sellers are folks who got caught buying at the peak of the market and need to hit their numbers or no deal. For those sellers deals are far and few between. You need to go after properties that have room to negotiate and with sellers who are truely motivated. The good news is that all these no money or low money down deals that you have heard of in the past are not so far fetched these days. Well sort of. With financing so complicated and sellers needing to hit their mark some of these deals are getting done directly without conventional loans! You need to talk to a professional who has experience in approaching a prospective property several different ways (ex: via conventional loan, cash, owner financing etc.) and how to price each to make them attractive to sellers. Of course you never actually do something like this or anything suggested here without the advice of legal council. We always advise to keep an attorney on retainer while prospecting for properties.

Here at Vestport we have continued ramping things up. Vestport welcomes Matt Masys as one of our newes associates. We have 2 other associates who should be joining our team in early 2010 as well. Initially we predected a major rebound by 2010. For now we will put the brakes on the words "major" and "rebound" however or at least for the time being. We feel that things are getting better but still no major recovery or vibe as of yet. If you follow this site from time to time then you know that we don't pull punches here. You will always get a strait and honest overview of what we feel is really going on in the local and national markets. When you are ready to start looking for properties or selling please consider giving us a call at 617-799-6928. We have CCIM (Certified Commercial Investment Member) professionals for all of your commercial needs and residential realtor broker and associates to help that are no further than a phone call away. 

Market Status: In general many professionals have left the business on the lending and brokerage side as we had originally predicted. That is not necessarily a bad thing as those who remain are most likely actually understand the market and can thrive even in times like this. Vestport Inc. is here to stay and only expanding. Historically this will all just end up being a blip on the radar screen or some bar chart somewhere as property values eventually climb and or double once again. Owning real estate and or a business is probably still your best bet to achieve financial independence. Real Estate is however a bit less volatile than starting a new business. Also, once you close the doors to your business (even if it is a real estate brokerage) where is your cash coming from? If you have rentable real estate you just may be sitting pretty and if not??? Well there's always scratch tickets and casinos right.

Is this exactly what I should expect and how things will progress? No, these are only our opinions backed up by fact and solid reasoning. Since March 2006 I can honestly say that our market projections have been extremely accurate. No one has a crystal ball and can definitively predict the future but our track record so far has been right on target so far for the most part. We still say that within the next 5-10 years that interest rates will be nearly double or double digits (8-10%) and that you may make more money keeping it in the bank then and locking in a low interest fixed loan now!

 

Vestport Inc.

Real Estate Advisors

Commercial & Residential Property Experts

Buyer, Seller and Tenant Representation

Accelerated Marketing and Auctioneering Services

Triple Net Commercial & Residential Leasing

Financial Analysis for Commercial Real Estate

Short Sales & Foreclosures

Property Management

Demographic Studies

Professionalism and Expertise

 

 

Thank you for visiting Vestport Inc.!

 

Arthur S. Jovellas, CCIM

 

ccim-red-lg.jpg    

 

 

 

(Certified Commercial Investment Memeber)

partners_c.jpg

 

 

 

 

 

 

 

 

 
[ Back ]
Short Sales
Vestport Inc. has been working with many customers and clients buying and selling short sale properties in the last several months. Though it is unfortunate that a seller may need to short sale a property it can be a great opportunity for both sides of the transaction. First, for the seller they can avoid foreclosure provided the property closes escrow successfully. In most cases a buyer will save money buying a short sale below market value. If you are a potential seller with an ARM mortgage and the ARM is coming down way too fast for you to handle financially then call us immediately if you don't know what to do next. We can help more than likely and will do our very best to save your good credit. It is far better to short sale a property than to destroy your credit for 7 years or so. We say or so because typicall lenders go back 7 years when looking at your credit but sometimes they go back even further. If you wait until you receive your foreclosure notice it may be far too late unless you can pay off the entire loan. You must try at all cost not to fall behing on your payments. You need to act well in advance of a foreclosure sale and know exactly how to deal with the banks. We have worked with buyer's and seller's of short sale properties for some time now and understand what needs to be done and when. The banks expect these transactions to be completed in very specific ways. You need to understand the way that they think from A-Z for the best chance of avoiding foreclosure. Each bank is different and some cooperate more than others. We are familiar with the entire process and can help if you call. There are no fees. We get paid by the bank only if we succeed in selling your property.

Call Vestport Inc. today at 617-799-6928 to get started. It cost nothing for us to talk and there is absolutely no obligation. We don't constantly market new potential customers and clients. 99% or our business comes from repeat referrals and networking. We consider our referrals as the highest of compliments. Going it alone is ridiculous. We have seasoned professionals, multiple subscriptions to several listing services (not just one service), all the necessary contracts, superior network/telecommunications network and are committed to use all of our assets to get you results. At Vestport Inc. it's all about assessing the clients needs first!

 

 

 
Events Calendar
« < February 2010 > »
S M T W T F S
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 1 2 3 4 5 6
Latest Events
No events
Events Legend
Copyright © 2007 Vestport Incorporated All rights reserved.
Site designed by Arthur S. Jovellas