June 30, 2008
Affordability: Coming Soon?
There are over 1,000,000 unoccupied (but habitable) houses waiting to be bought in the U.S. right now. ONE MILLION. The good news is that the country's population continues to grow. The bad news? Well, there are 1,000,000 houses for sale.
At a certain, point, housing becomes affordable to a segment of the population that was forced to rent through the boom years. The downside: The corresponding credit crunch may still keep first time buyers from getting financing, even if they can afford the house.
As someone who has worked in this industry my entire career, I can't think of a better time to get the word out about seller-financing. My goal as Editor of the NoteWorthy Newsletter is to inform realtors, real estate investors, investment clubs, financial planners, etc. about the feasibility of seller-financing as an alternate means to getting homes sold.
Less paperwork, a shorter sales process, no origination points or fees, and far more potential buyers than if third-party financing is required. If the seller decides they no longer want to hold the note themselves, we at Proficient can help them liquidate the note and still realize the cash they hoped for when they first put their property up for sale.
Spread the word. The more alternatives we can provide to the sellers of these houses, the quicker those million houses can be turned into HOMES.
Have a great week.
Our efforts stay focused on note holders. If you are a note finder, a note
broker, or anyone other than the actual note holder, please do not contact