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Ken Lee's Blog (3)

Dear First Time Buyer - Don’t’ Buy that Dump! It's not worth the $8000 tax credit.

The $8000 tax credit is a nice perk for first-time homebuyers. In my opinion, new Buyers should look at it as a perk, not as an incentive:

1) Qualify for a home based on solid income, a certain level of confidence in job security, and ability to repay for years to come.

2) Find a nice property that you don’t have to sell for at least 5 years, better if you can keep it for 10 years or more, possibly as a rental later on.

3) Don’t let the pending deadline for free money lure you… Continue

Added by Ken Lee on September 27, 2009 at 11:50am — 2 Comments

Top 10 Ways to Know You’re Buying A Dump

10) A thousand business cards are on the kitchen counter, the property has been on the market longer than normal, and the listing agent says he’s looking for offers. It looked good on paper, but nobody felt like doing anything after seeing the house. (Note to Seller: wake up and smell the business cards.)

9) It’s a bank-owned property on the market for over 30 days (Substitute the appropriate “expiration” date for your market). Unless this property fell out of escrow with a Buyer who… Continue

Added by Ken Lee on September 27, 2009 at 11:47am — 3 Comments

America's Favorite Recession Pastime: Complaining About Government.

At some time in life, many of us were told we have no business complaining about things in life that we don't know about, don't participate in, or don't help to make better.

I'm paraphrasing a few examples here ...

Obama has said it - "I can't do it alone. I need your help."

My former CEO said it "Bring me a problem, and bring me a solution."

My former boss said "Great point - you are in charge of fixing it."

My REO Masters Co-Founder Scott… Continue

Added by Ken Lee on September 5, 2009 at 7:43pm — 2 Comments

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