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Zillow: US won’t see a buyer’s market until 2020 from CNBC.

From Article:

Fall and winter give buyers more negotiating power
Homebuyers with children tend to abandon their homebuying plans by August because they want to be settled before school starts. National housing data shows that August and September tend to have the most drastic price reductions of any time during the year, Hale says.

Although there’s less inventory in the fall than in the spring, buyers can often get better deals on what is available. Fall is a last-ditch opportunity for sellers to close on their homes before the end of the year. And with fewer buyers coming through the door, sellers tend to price their homes more aggressively to get buyers’ attention, says Bill Gassett, a real estate agent with Re/Max Executive Realty in Hopkinton, Massachusetts.

Aside from nabbing a better price, you might also score more flexible terms in the fall, such as an extended closing time, or home inspection repairs or credits, Gassett says. The longer a home sits on the market, too, the more willing a seller will be to negotiate, he says.”

Complete article posted at  https://www.cnbc.com/2018/08/28/these-are-the-best-times-to-buy-a-home-according-to-the-experts.html

Existing home sales decline for fourth straight month in July from CNBC.

I hope you’re enjoying the last few days of summer.

Did yours go by as fast as mine?  It feels like just last week I got to catch my breath, and here we are starting school again!

The end of summer also means that it’s time to get back to work.  It’s time to push the gas through the end of the year.

And here is the thing – do you sense a change in our local real estate sales?  Are we slowly moving from a sellers market to a neutral or even buyers market?

And what does that mean for wholesalers, renovators, agents and mortgage pros?

Mark your calendar for Sept. 17.  Reserve your seat and join us for some insight into what’s going on, and how you can sharpen your marketing skills for the coming shift in our industry.

Mark your calendar for Monday evening September 17th.  Reserve your seat and join us for networking, a bite to eat, and an evening of insights from a local DC professional investor.

Complete article posted at https://www.cnbc.com/2018/08/07/wells-fargo-accidentally-foreclosed-on-hundreds-of-homeowners.html

Hello All,

People tend to loosen up a little over the summer months.

They relax a little.

Tomorrow night at our July WREIA meeting, it’s going to be a little like casual Friday at work.

Or at least – what I imagine it would be like.

I’ve never had a “corporate job” – so I can only imagine that people enjoy casual Fridays.

For 20 years – all my Fridays have been casual Fridays.

Tomorrow night we are going to keep things “loose” as one of my friends like to say.

No big presentation.

Nothing to buy – as usual.

No high pressure sales that builds up to the big reveal on a must-have coaching package for only 15k.

Nope.

Just a few WREIA members sharing their experience working in our DC/Baltimore backyard – doing deals.

If you missed one of our previous emails – here are the details on the July WREIA meeting – Tomorrow night:

I’ve asked our WREIA guests this month to share some of their best tips when it comes to Money, Renovation and Wholesaling real estate.

Our WREIA panel nights are some of the favorites of the year for our WREIA members. It gives us all a chance to reach back into our community and find out what other local investors are doing to have success.

If you understand how to Wholesale real estate, you have a good grasp of how to find properties – at a discount.

If you understand how to renovate the properties – within a set budget – you can profitably sell or rent them for a profit.

If you understand how the MONEY flows through your projects, you might uncover a few spots where you can make or keep MORE of your profits.

If MORE MONEY sounds good to you, come join us at the last WREIA meeting of the summer next Monday. Remember, we take a break in August every year to enjoy time with family and friends. Maybe this year you can do some Whitewater rafting?

Monday, July 16th at Washington REIA.

Will I see you there?

Bring your questions for the Q&A section.

Save a few dollars and reserve your seat early. Then join us at WREIA – Monday, July 16th. It will be a great meeting to get you motivated and get some momentum for the rest of 2018.

Join us as we enjoy “Three Pros Talk Money, Renovation, and Wholesale.”

Meet real people doing real deals in real estate – right here in the DC/Baltimore area.

Reserve your seat at this link.

John Peterson
Founder, Washington Real Estate Investors Association

This property is a perfect example of the topics we will cover this Monday night at our July WREIA meeting in Bethesda.

I’ve asked our WREIA guests this month to share some of their best tips when it comes to Money, Renovation and Wholesaling real estate.

Our WREIA panel nights are some of the favorites of the year for our WREIA members. It gives us all a chance to reach back into our community and find out what other local investors are doing to have success.

If you understand how to Wholesale real estate, you have a good grasp of how to find properties – at a discount.

If you understand how to renovate the properties – within a set budget – you can profitably sell or rent them for a profit.

If you understand how the MONEY flows through your projects, you might uncover a few spots where you can make or keep MORE of your profits.

If MORE MONEY sounds good to you, come join us at the last WREIA meeting of the summer next Monday. Remember, we take a break in August every year to enjoy time with family and friends. Maybe this year you can do some Whitewater rafting?

Monday, July 16th at Washington REIA.

Will I see you there?

Bring your questions for the Q&A section.

Save a few dollars and reserve your seat early. Then join us at WREIA – Monday, July 16th. It will be a great meeting to get you motivated and get some momentum for the rest of 2018.

Join us as we enjoy “Three Pros Talk Money, Renovation, and Wholesale.”

Meet real people doing real deals in real estate – right here in the DC/Baltimore area.

Reserve your seat at this link.

John Peterson
Founder, Washington Real Estate Investors Association

Hello Again!

I was waiting on a new tenant at a rental yesterday and decided to make a quick video for your viewing pleasure.

Enjoy!

I’ve asked our WREIA guests this month to share some of their best tips when it comes to Money, Renovation and Wholesaling real estate.

Our WREIA panel nights are some of the favorites of the year for our WREIA members. It gives us all a chance to reach back into our community and find out what other local investors are doing to have success.

If you understand how to Wholesale real estate, you have a good grasp of how to find properties – at a discount.

If you understand how to renovate the properties – within a set budget – you can profitably sell or rent them for a profit.

If you understand how the MONEY flows through your projects, you might uncover a few spots where you can make or keep MORE of your profits.

If MORE MONEY sounds good to you, come join us at the last WREIA meeting of the summer next Monday. Remember, we take a break in August every year to enjoy time with family and friends. Maybe this year you can do some Whitewater rafting?

Monday, July 16th at Washington REIA.

Will I see you there?

Bring your questions for the Q&A section.

Save a few dollars and reserve your seat early. Then join us at WREIA – Monday, July 16th. It will be a great meeting to get you motivated and get some momentum for the rest of 2018.

Join us as we enjoy “Three Pros Talk Money, Renovation, and Wholesale.”

Meet real people doing real deals in real estate – right here in the DC/Baltimore area.

Reserve your seat at this link.

John Peterson
Founder, Washington Real Estate Investors Association

Re: Rivers Of Money

Here we are – smack in the middle of summer 2018.

People all over our area have been enjoying their summer vacations or just celebrating with a few days off with friends.

Seems like a lot of the fun is taking place in, on or near the water.

Have you ever had some friends in from out of town and took them down to the Tidal Basin and enjoyed the paddle boats around the Jefferson Memorial?

Some people have joined their friends on a day-trip down a river. Maybe the Potomac or out in Annapolis for the day. Skiing, tubing, jet-ski’s – or just “going fast” on the water – it’s all fun and enjoyable.

At some point, a few of us have even ventured out to the Whitewater rafting trips in the Shenandoah mountains or beyond.

Each of those trips is similar to renovating different properties.

The small projects are easy going – a bit like the paddles boats or a dinner cruise in Alexandria. The renovation money spent is “smaller” and the projects are rather simple. There aren’t too many ways to make mistakes. In order to hurt yourself, you literally need to jump overboard.

Join some friends on a boat in a crowded marina and it’s a whole different adventure.

The boat won’t start – always a good way to start the day. But when it does there are so many other people zipping around it’s nerve-wracking just trying to get out to a safe spot to doing some skiing or tubing with the kids.

That’s a bit like doing a big renovation on a house in a neighborhood with a bunch of other properties for sale. Lot’s of moving parts, and you have to keep an eye on the market – your competition. Who is adjusting prices and why? Is the new foreclosure or bank property going to ruin your chance for good comps?

Or how about that Whitewater Rafting trip? Holy cow – exciting with the risk of injury or even death! The reality is, those rafting trips are most like the big renovations these days.

Failed inspections pop up like hidden rocks ready to throw everyone off the raft and totally derail your project timeline.

Opening the attic doors of newly purchased auction properties can be like approaching level 3 rapids. You never know if you’re going to find rodents, mold, holes in the roof or some other exciting way to add unexpected costs to your project.

These projects are all taking place on rivers of money that can really make people nervous because of the amounts of capital required or the speed at which it is being deployed.

Even when the water is shallow and barely moving – you need to keep an eye out for trouble. Nature has a way of ruining your best plans with burst frozen pipes on vacant property, or downed tree limbs from a passing storm.

We will have a couple stories about recent water damage at our July WREIA meeting next Monday. It’s a great chance to learn from other peoples mistakes.

I’ve asked our WREIA guests this month to share some of their best tips when it comes to Money, Renovation and Wholesaling real estate.

Our WREIA panel nights are some of the favorites of the year for our WREIA members. It gives us all a chance to reach back into our community and find out what other local investors are doing to have success.

If you understand how to Wholesale real estate, you have a good grasp of how to find properties – at a discount.

If you understand how to renovate the properties – within a set budget – you can profitably sell or rent them for a profit.

If you understand how the MONEY flows through your projects, you might uncover a few spots where you can make or keep MORE of your profits.

If MORE MONEY sounds good to you, come join us at the last WREIA meeting of the summer next Monday. Remember, we take a break in August every year to enjoy time with family and friends. Maybe this year you can do some Whitewater rafting?

Monday, July 16th at Washington REIA.

Will I see you there?

Bring your questions for the Q&A section.

Save a few dollars and reserve your seat early. Then join us at WREIA – Monday, July 16th. It will be a great meeting to get you motivated and get some momentum for the rest of 2018.

Join us as we enjoy “Three Pros Talk Money, Renovation, and Wholesale.”

Meet real people doing real deals in real estate – right here in the DC/Baltimore area.

Reserve your seat at this link.

John Peterson
Founder, Washington Real Estate Investors Association