Who Else Wants to Make Money in Todays Real Estate Market?
Posted Oct 15, 2007 @ 2:45 am, Viewed by 421 Visitors, Read 432 Times.
There is doom and gloom about real estate foreclosures and lenders going out of business splattered across the evening news every single day. This is causing many home sellers to continue lowering prices hoping to get an offer, while potential home buyers sit back and wait. 
The brightest investors are always a few steps ahead of the masses, history has shown this over and over. By the time the masses figure out what is going on, it's too late and that is exactly why so many people are in financial trouble now. For those that want to continue investing in real estate now is a great time.
Because of the huge inventory of homes listed for sale in nearly every market in the US there are very motivated sellers, in fact many of them are near foreclosure. Not everyone is in this situation but there are enough of them out there that I have seen some very good buys recently.
Smart buyers are cashing in on this and helping people save their credit. The idea here is finding the home owner close to foreclosure but with plenty of equity.
I had buyers last week looking for a good deal, I was able to find a home listed for sale, near foreclosure but with a lot of equity. The seller was broke, 7 months behind on his mortgage, not able to refinance or get a second mortgage for obvious reasons, behind on HOA dues and just had the power shut off for non-payment.
The listing agent had the home listed at a price that seemed appealing but in this slow market no offers were coming in. We crunched the numbers and wrote an offer for 37% less than the asking price including the buyers paying all closing costs to help the seller.
The buyer is buying this home at a very good all cash price, the seller gets to walk away with a few thousand dollars in their pocket and no foreclosure on their credit.
It's a great time to be working with serious buyers and with a quality website generating plenty of leads it's our job as Realtors®
The brightest investors are always a few steps ahead of the masses, history has shown this over and over. By the time the masses figure out what is going on, it's too late and that is exactly why so many people are in financial trouble now. For those that want to continue investing in real estate now is a great time.
Because of the huge inventory of homes listed for sale in nearly every market in the US there are very motivated sellers, in fact many of them are near foreclosure. Not everyone is in this situation but there are enough of them out there that I have seen some very good buys recently.
Smart buyers are cashing in on this and helping people save their credit. The idea here is finding the home owner close to foreclosure but with plenty of equity.
I had buyers last week looking for a good deal, I was able to find a home listed for sale, near foreclosure but with a lot of equity. The seller was broke, 7 months behind on his mortgage, not able to refinance or get a second mortgage for obvious reasons, behind on HOA dues and just had the power shut off for non-payment.
The listing agent had the home listed at a price that seemed appealing but in this slow market no offers were coming in. We crunched the numbers and wrote an offer for 37% less than the asking price including the buyers paying all closing costs to help the seller.
The buyer is buying this home at a very good all cash price, the seller gets to walk away with a few thousand dollars in their pocket and no foreclosure on their credit.
It's a great time to be working with serious buyers and with a quality website generating plenty of leads it's our job as Realtors®
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