Up to Twenty Percent of Foreclosed Properties are Vacated

Arizona Hard Money

Recently, a report released by RealtyTrac stated that as of June, homeowners had vacated 167,680 foreclosure properties all across the US. This represents 20 percent of all U.S. properties that are currently in the foreclosure process. These are in addition to 544,274 bank-owned owner-vacated foreclosures homes nationwide that have been foreclosed on but not sold to a third party.

The report went on to say that of the total 167,680 vacant foreclosure properties nationwide, Florida had been documented by far the most of any state, with 55,503, accounting for 33 percent of the national total. Illinois posted the second highest total (17,672), followed by California (9,802), Ohio (9,723), and New York (9,173). Additionally, the states where the percentage of owner-vacated foreclosures was above the national average of 20 percent included Indiana (32 percent), Oregon (28 percent), Nevada (28 percent), Washington (27 percent), and Georgia (27 percent).

Meanwhile, Chicago documented the most owner-vacated foreclosures of any metro area nationwide, with 14,717, representing 17 percent of all properties in foreclosure, followed by Miami (13,901), New York (10,074), Tampa-St. Petersburg-Clearwater (9,998), and Orlando (5,569). Florida was mentioned again when the report stated that the state accounted for 85 of the top 100 zip codes in terms of total owner-vacated foreclosures, led by zip code 34668 in the Tampa-St. Petersburg-Clearwater metropolitan statistical area.

It also came as no surprise that lower-end foreclosures had vacancy rates that were higher. 29 percent on homes valued below $50,000 and 25 percent on homes valued between $50,000 and $100,000. Meanwhile 12 percent of homes valued $1 million or more were vacant.

Who played best in this game among the servicers? Bank of America and GMAC (Ally) had the highest percentage of owner-vacated foreclosures, with 23 percent. This was followed by Chase with 21 percent and Wells Fargo and Citi lastly tied with 20 percent.

Big Daddy Dennis Arizona Hard Money Lender

Level 4 Funding LLC

23335 N 18th Drive Suite 120

Phoenix AZ 85027

623-582-4444

Summer home improvement trends: Sixty Percent of Homeowners are Making Improvements this Summer

Arizona Hard Money

Here’s the thing: More than 25 percent of homeowners nationwide are upside down on their mortgages. Nowadays, more and more homeowners are choosing to stay in their homes and invest in home improvements and make the most of their situation. It makes sense, considering not only the economy but the market. In fact, 60 percent of homeowners plan to make a home improvement or addition this summer. These statistics come from Zillow Digs Summer Home Improvement Trend and Spending Survey.

The Zillow Digs trend expert, Cynthia Nowak, says, "Zillow Digs is a leading resource for discovering up-and-coming design trends as actual consumers and professionals are sharing and discussing what they like."

She goes on to say, "As we head into the long days of summer, we are seeing increased interest in outdoor spaces with very natural elements such as stone fireplaces, as well as bringing more light into bathrooms with clear glass on the walls and shower enclosures."

These home improvement projects depend on the age of the homeowner, however. The type of projects being done varies by age, life-style, and life stage:

For example, the younger homeowners with children will more than likely be planning on adding an addition this summer. The percentage of people making improvements to their homes vary as much as the ages.

► 18-to-34-year-olds: 71 percent

► 35-to-54-year-olds: 61 percent

► 55 and older: 51 percent

► Homes with children: 65 percent

► Homes without children: 57 percent

But how much are they willing to spend? That depends, too. Homeowners plan to spend a median of $1,200 on summer home improvement projects. Homeowners with children as well as homeowners 54 years of age and younger plan to spend one-third more ($1,500) compared to homes without children and those 55 and older ($1,000).

Big Daddy Dennis Arizona Hard Money Lender

Level 4 Funding LLC

23335 N 18th Drive Suite 120

Phoenix AZ 85027

623-582-4444

 

The Facts: Sixty Percent of Homeowners want to Make Home Improvements

Fulfillment Service Center

Here’s the thing: More than 25 percent of homeowners nationwide are upside down on their mortgages. Nowadays, more and more homeowners are choosing to stay in their homes and invest in home improvements and make the most of their situation. It makes sense, considering not only the economy but the market. In fact, 60 percent of homeowners plan to make a home improvement or addition this summer. These statistics come from Zillow Digs Summer Home Improvement Trend and Spending Survey.

The Zillow Digs trend expert, Cynthia Nowak, says, "Zillow Digs is a leading resource for discovering up-and-coming design trends as actual consumers and professionals are sharing and discussing what they like."

She goes on to say, "As we head into the long days of summer, we are seeing increased interest in outdoor spaces with very natural elements such as stone fireplaces, as well as bringing more light into bathrooms with clear glass on the walls and shower enclosures."

These home improvement projects depend on the age of the homeowner, however. The type of projects being done varies by age, life-style, and life stage:

For example, the younger homeowners with children will more than likely be planning on adding an addition this summer. The percentage of people making improvements to their homes vary as much as the ages.

 ► 18-to-34-year-olds: 71 percent
 ► 35-to-54-year-olds: 61 percent
 ► 55 and older: 51 percent
 ► Homes with children: 65 percent
 ► Homes without children: 57 percent

Fulfillment Service Center

But how much are they willing to spend? That depends, too. Homeowners plan to spend a median of $1,200 on summer home improvement projects. Homeowners with children as well as homeowners 54 years of age and younger plan to spend one-third more ($1,500) compared to homes without children and those 55 and older ($1,000).

Best West Direct Fulfillment Service
23335 N 18th Dr Suite 120
Phoenix Az 85027

Do you want to make money with Arizona Hard Money in a fix and flip?

You may ignore anything that has to do with a loan nowadays because you might think you just don’t have the credit needed for that loan you really want. Moreover, you don’t want to be in any more debt.

However, do you know that you can actually make money with Arizona hard money loans? The profit is significant enough to capture your attention, we guarantee it. Don’t believe me? What if I told you that the average profit for one fix and flip project is right around $30,000? It can be done my friend, it can be done.

What are the five steps to Make Money with Arizona Hard Money in a fix and flip?

1. First off, find the property that you think will really charm you when it’s all said and done.  Make sure that you do your research. You are going to want to consult a realtor and become an expert yourself. Make sure to constantly gather knowledge on the real estate market and find out how it works so you are always prepared. One of the most important things to know is the ins and outs of real estate in the location you are thinking of investing in. Ideally, there will be a high demand for real estate in that area. Look for a home with room for improvement and potential.

2. Evaluate the property you want. Much like step one, this part can be tough. After you've found a potential property, you need to do a thorough evaluation of the condition and the price. Crunch some numbers and see how things add up.

3. Apply for an Arizona hard money loan. This sounds like the scary part but this is actually where things get a little easier. Applying for an Arizona hard money loan is simple, and strictly equity-based- your credit will not be checked. Try to get a loan that covers most, if not all, of the property’s listed price. You likely will not have a lot of extra money to throw around on the project, so ask for what you need on a loan.

4. Start your repairs. Congratulations! If you've made it to this step, the hard part is over. It means you have the loan and you have finished most of the paperwork and, if you have a passion for rehabbing properties and homes, this is your time to really show what you can do. Make sure to create a timeline for your contractors and stick to it. Try not to have all home repairs take longer than one month.

5. List the property. The last and final step is fairly easy. Consult an agent, and price it right. Don’t overprice the home because you know how much blood, sweat, and tears went into it—otherwise it will never sell.

Making money with fix and flip projects and Arizona hard money is truly an easy and rewarding experience!

Big Daddy Dennis Hard Money Lender

Level 4 Funding LLC

23335 N 18th Drive Suite 120

Phoenix AZ 85027

623-582-4444

Do you need a loan? Here are a few tips on how to receive a Hard Money Loan from Arizona lenders.

There are soft loans and hard loans. You may be unfamiliar with a hard money loan. The basic definition is this: Loan approval is weighted mostly on the value and borrowers "equity" of the "hard asset" used as collateral with a lesser concern given to the borrower's credit rating. That means that you are borrowing against the property and not based on your credit rating whatsoever. That means the loan is easily approved and quickly granted to you. Usually within twenty-four hours.

This should give you a little bit of a better understanding of just what Hard money lenders in Arizona can do for you. They will provide you the loan you need for your business or personal use so you can get the property that you really want.

Here are some things you should look into if you are serious about the hard money loan in Arizona that you want to take out. Upon receiving your application, they consider the following:

·         Condition of the property

·         Length of the loan

·         Location of the property

·         Ability of the borrower to complete the project

·         Amount of work to fix the property

·         Amount of assets the borrower has to finish the project

·         Current and projected value when finished

·         Borrower’s information.

If you feel comfortable with all of this and where you stand with the above, then you will do well with a hard money loan in Arizona. 

A few facts about hard money loan lenders in Arizona.

This is just to go back over what was said before; hard money lenders in Arizona do not go by your credit rating in order to qualify you for a loan, but rather it is equity-based only. We can all breathe a sigh of relief for that! It’s okay if you have bad credit. You can rebuild your life and a hard money loan can help you do that. Another term this concept is referred to is “Private Money” or “Equity Loans.” These type of loans are unlike your typical loan from the more traditional route of a bank, but they are from methods such as private sources such as investor's personal funds, pension plans and other non-traditional sources. Arizona hard money lenders in Arizona are spread all over Arizona and other places around the United States to help you qualify for a loan. You can do this! And you don’t need a fantastic credit score.

Big Daddy Dennis Hard Money Lender

Level 4 Funding LLC
23335 N 18th Drive Suite 120
Phoenix Arizona 85027
623-582-444

Simplifying Hard Money Loans in Arizona

Money lending is a difficult business to really understand. Have you been trying desperately to understand all the jargon being used around you when you try to figure out money lending? We are here to help. We understand that money talk is difficult and it can be hard to understand and that can leave you feeling not only confused but upset and overwrought. Here’s what hard money lenders in Arizona are all about.

Hard money lending is a unique process because it is real estate backed instead of being

Hard Money Loans Arizona

based on your income or financial past, so it doesn't matter what your credit looks like to a hard money lender in Arizona, that makes no difference. Usually, these loans are short term and tend to range anywhere from six to thirty-six months. A majority of the loans end up being even less time than that.

Usually, hard money lenders in Arizona is a loan only for property or real estate investments. That might sound a little limiting to you, but it actually is not. Hard money loans can be used for the purchase of your dream home, for an investment in a “fix and flip” project, or for a residential property investment. These are funded relatively easily and quickly as well. That means that you can get your money and get on with life in a timely manner.

How to snag that Hard Money Lenders in Arizona

The hard money lenders in Arizona want you to succeed. Just know that with any money lending institution, you need to be careful. You can’t trust anyone so you need to make sure you do all your research and have all your finances in order. You can’t trust just anyone. Know what you are getting yourself into by knowing the estimated value of the purchase you want to make and come up with a ball park figure of what amount of money you think will be lent to you. Do not ask for more money than you actually need. That would be a huge mistake.

Also remember that hard money lenders in Arizona are going to charge you a bit more interest than a regular loan, but keep in mind that a hard money loan is a significant risk on their part because they are lending to you without pay stubs, tax information, or any knowledge of your financial past.

If you feel that you may not be able to qualify for a traditional mortgage loan, maybe it is time to look into hard money loans.

Big Daddy Dennis Hard Money Lender

Level 4 Funding LLC

23335 N 18th Drive Suite 120

Phoenix AZ 85027

623-582-4444

Is Arizona Hard Money Really “Hard”?

You might be new to the term “hard money” and it might sound a little intimidating. Don’t let this scare you. It really isn’t, even though ‘hard money’ sounds a lot harsher than ‘soft money.’

In the world of loans, you may have figured out already that there is soft money and hard

hard money lenders Arizona

money. Without going into extensive detail, let’s just say the two are very different. One thing that is different is that Arizona hard money is based upon hard assets and not credit score or credit history. In all aspects, hard money is essentially the easiest loan for you to get approved for.

Remember that Arizona hard money loans are equity-based, not credit based, so it’s about the assets, not your credit, income, or financial history. It doesn’t matter how bad your credit is. Usually. However, some hard money lenders are going to want more information about you, just to make sure you can repay the loan, however, for the most part, they are more interested in the property you are looking to buy, not your history.

What Kind of Arizona Hard Money Loan is Right For Me?

There are a few different types of Arizona hard money loans. Of course, the first is a commercial hard money loans. This is for, as you might have guessed, commercial properties, not personal properties.

The second type of loan is a business hard money loan. This is where the loan is based upon the hard assets of a business such as accounts receivables or cash flows. Again, not about credit.

The other (and perhaps most common) is a residential hard money loan. These Arizona hard money loans are usually for individuals or families looking to fix up a property or purchase their dream home.

Please remember that an Arizona hard money loan is not a signature loan, or rather, it is not a loan without any assets whatsoever that’s based on credit score, work history, income, etc. If you’re looking for a signature loan, talk to your bank about that because that is not what hard money loans are. The whole purpose of a hard money loan is asking for a loan based on the property you are looking to invest in and getting that loan in a timely manner.

Talk to your nearest Arizona hard money representative to see if you qualify for this type of real estate loan today!

Big Daddy Dennis Hard Money Lender

Level 4 Funding LLC

23335 N 18th Drive Suite 120

Phoenix AZ 85027

623-582-4444