Don’t get goo-goo over short sales!

 

 

 

People keep saying they want a foreclosure or short sale.  What they really should say is “I want to purchase under the appraised value and find a home that will appreciate steadily when the market returns.”  What does it matter if it is a short sale or foreclosure? There are still some very good properties for sale, that are in great condition, have clear title and that can close quickly. Wow!

If you are going to make an offer on a short sale, be prepared to wait.  The bank is in no hurry to sell at a loss! You have to make the best offer and be patient.  Be prepared for the bank to never respond, reject offer or at best counter.  Know what you are willing to pay and if you can get approved, consider yourself lucky!  Take stock in fine wine!

REO- Real Estate Owned, typically a bank owned property is another opportunity for buyers.  Banks are in the business of managing money, not managing real estate.  Again, the bank moves at their own pace.

Equity sellers are few these days, but they are still there.  Hopefully you can find someone who purchased their home at least 8 years ago for a fair price and will pass that fair pricing along to you.  You can target those type of sellers by searching in established communities.  Many homeowners make improvements over the years and add nice value to their homes.

Don’t get caught up in the buzz words of todays real estate market…short sales and REO properties have been around forever.  This is not new…just more of them.

I have reasonable sellers that are willing to sell for a fair price in today’s market. Don’t be afraid to make them an offer, it will be an easy transaction, because they care!

Someone asked me if I was an over-eater for Thanksgiving….I think I am….can’t wait!  Happy Thanksgiving to all!

Remember….Who would help you with all your real estate needs?….Team Holly-would

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