In California, 10.8% of all mortgages were 90 days or more past due or in foreclosure. While the Golden State accounts for 13.3% of U.S. mortgages, it is the also the site of almost 20% of foreclosure starts from April to June. More troublesome is a trend emerging deeper in the numbers - subprime loans given to the weakest borrowers are now a declining portion of delinquency and foreclosure rates, while prime loans, given to the most highly qualified borrowers, are a rising share. Unemployment is a contributing factor at over 11% - unemployed home owners eventually fall behind on their mortgages. Locally, we are seeing more higher priced homes entering the market, and this may be why.
Over the past year or so we have watched our 401k’s fluctuate wildly; our financial panel on September 3rd at the SJREI will address what we need to do to re-tool our plans in order to be effective long-term. We have an expert on Individual Retirement Account (IRA) investing, Eric Wikstrom is flying in from Seattle to share his thoughts on this topic. Investing in real estate in your IRA is a great strategy to put your kids through college, and with the opportunities that will be presenting themselves in the next couple of years locally – now is the time to get ready to capitalize on this opportunity. That is just one of several speakers – we will also host a financial planner, an attorney and an accountant, see below for details.
Panelists:
Eric Wikstrom, CPA, CFP has over 25 years of tax, accounting and corporate finance experience, who is flying in from Seattle to participate in this discussion.
“Making sure investors know what they can and can't invest in with their retirement accounts - what is working for investors right now and how to maximize your returns safely and effectively.”
Dave Beck, Fee-Only Financial Planner
“The best way to select and utilize a savvy Financial Planner - what this Real Estate Investor/Financial Planner recommends to diversify and protect your investments for the long-term."
Richard Smith, Enrolled Agent, and Investor with over 300 units who has prepared taxes for individuals and corporations for more than 30 years.
"Successful investors re-evaluate and modify their strategies as the environment changes - what is working currently for this investor who owns over 100 properties."
Tony Earle, is an Attorney, Real Estate Broker, and Investor.
”Tony will discuss why it is important to have and maintain an estate plan. He will discuss common estate planning options which are utilized by real estate investors, such as living trusts and wills, as well as the “pros” and “cons” of each option."
1 comment:
If you think the price is fair enough, you may pay it in full price and negotiate for a lower interest or ask for a smaller down payment. Try to maximize the opportunity so that you would have a great deal of your money.
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