There is a new way to get yourself into home ownership. A company is offering a service where they purchase the home you want then rent it back to you for some agreed upon period. At the end of that period, you get to buy the home.
While this is a great idea, the concept of doing this yourself has been around forever! For those times when the seller simply cannot afford to rent to you and needs to completely cash out, this service might be good to use. However, there is a much better deal to be had if you can find the right landlord/seller and negotiate the same kind of arrangement yourself! But in that case, all the extra money you save is yours!
In todays news, we find that the Feds are going to require that the luxury market is so full of anonymous all cash buyers that are LLCs that they are gong to require the names of the officers of the LLC be revealed. Right now, they are focused on Miami and New York where apparently, a considerable number of the buyers in those luxury markets are in fact LLCs. So much so that there is a concern that this will pop a luxury market bubble in those areas!
Also, Zillow is reporting that lending rates are now below what they were before the fed raised interest rates. Good news for folks looking for amazing rates for that upcoming home purchase!
For links to the articles and news items discussed in todays show, please check out the show notes at http://www.therebelbroker.com.