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Foreclosures and Short Sales| Which is HOT which is NOT?

Early this year everyone wanted in on the action.  Truly it was amazing how fast some people were able to write an offer on these in what seemed like minutes after they first went active.   I have always been quick on my feet and helped many buyers get in the door first.  I lived for this and still do.  Often the good ones would go for less than $5,000 off the list price and many under $100k were selling for better than full price.  

With so many people getting in on the action this was and still is quite a problem for the buyers that are looking for their first investments potentially rent out or to flip that home.   Many thought I was crazy telling them that they would need to offer full price or more to have a shot at landing that property.  Even more so if our parents or friends told us to make an offer at least 10% below asking price.   So what do I know?  I’ve only been selling real estate for the last decade and show 100’s of homes a week.  Often times losing out on the one they really wanted, was the only way to see I wasn’t bluffing.

As a Real Estate Coach, my focus is on getting buyers and sellers the best deals possible and to help guide them through murky waters and analyse the market changes so that they are better pre-pared when they make the decision to climb on in.   Sometimes the best deals are already priced at prices that we would normally be able to call a steal some 50-70k below the market value.  The problem is most of us have a hard time offering full price on a property regardless of how low it is priced, because that is not what we were told to do.  Times have changed and so has the market.  Many of these types of homes, the investors can’t even get their hands on them because the owner occupants have the first chance at them.   Now, the inventory levels are becoming fewer and fewer.  That doesn’t mean that we are done with foreclosures, not by a longshot, but it does indicate that banks are not in rapid fire mode either.

Now, with more flexability than ever, the Short Sales are climbing the ladders.  These to can be a big hit for investors, but the trouble with many of these is that not all of them will be granted a short sale in the end and it can tie up a good amount of your time.    It can be a great way for a buyer to a get a much better house, even though it may still need work too.  The question though is how long are you willing to wait for that chance before throwing in the towel, and moving on to something else.   As a Owner Occupant or an Investor licking your chops, if your short on patience, this isn’t the avenue for you.  

The Foreclosures are still popular but numbers are low at the moment- Investors may be better waiting till the fall or watching for the extended market deals to fall their way, currently they are not as HOT as the Short Sales.   Since this seems to be the biggest jump in recent months, having a short sale specialist with the know how is the biggest advantage for these.  I’ve been pretty successful with many of these, but my patience is tested many times.  Image

 
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Posted by on July 6, 2012 in Uncategorized

 

The Art of Winning the Bidding War!

These days the market is moving along like a run away train reach outrageous speeds.  Everyone wants a good deal.  How far are you willing to go to get one?

Well the thing here is that some of these Foreclosures are price so low, that even in their current state they are lower than perhaps they should be or are they?

Watching all the HGTV.com programs we see almost all the homes are going for less than asking price.  But this is a different market in the Fox Valley and in Green Bay, WI for that matter.  So you need the homework done for you and pronto!  You need to know what is it worth today, and in minutes.  You also need to know what it would normally go for if your looking to flip this home.

This is a market I have studied for some time.  We are not wired to be able to offer more than the asking price regardless of how low the property is. But the key is “You” don’t do this every day for a living.  So you need to seek an aggressive export to lead you through the shark infested waters.   Not every home out there is a Gem.  But there are a good many, that are that Gem.  

The days of making $20k – 30k are pretty much gone.   But if you can land the right one and still make $10k to $15k you are doing pretty good!  But be careful not to go too far over the asking price or you may not have room to sell it when your done.  Always expect the unexpected.  Theres usually something you didn’t plan for.

So while knowing what you can about the values is the biggest step in knowing where the property will more than likely sell.  Now it’s time to go in with a strategic plan of action to make sure you can get it without spending a penny more than you are comfortable with and feel good about it.  But how do you beat out the other buyers and still keep the costs as low as possible?  How do you know what they are going to do?  Well, just like EBAY.com you don’t know what they are going to do, but you can set up the offer to purchase like an Ebay item.  Want to know how this works? You’ll have to visit my webpage, email or call me for “Insider Secret”

Happy Home Hunting!  

 

Cheers!

 
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Posted by on May 29, 2012 in Uncategorized

 

Summer is not the only thing heating up, So is the market

Calling all Buyers and Move Up Sellers!  The time to take advantage is now.  As they say “Strike while the iron is HOT”  Each month I run a comprehensive Marketing Report for the Fox Valley Area Primarily. However, I will do them for Oshkosh and Green Bay, Wisconsin Markets as well.  The last few months the inventory levels have begun to steadily drop, as the amount of sales and sales prices have continued to increase at a rapid rate.

So what does this all mean?  For the last 4-5 years now, we have seen a drought in home sales and even the buyer incentives failed to change the market place. In fact one could argue that the incentives were a complete failure and many sellers suffered even more as a result.

Fast forward to today: We are now moving homes at a rapid pace.  Foreclosures are still coming onto the market, but the amounts of them are less and less and are gone in days (not weeks)  I myself have written over 25 offers this year and 5 or 6 of them have had multiple bidding wars going on.  

Next blog topic:  How Win a Bidding War on Every Deal You Write!

The market folks is finally turning around and it’s coming with a vengeance.  Many Realtors have never seen anything quite like this.  The buyers market is coming to an end, and by fall this area should be looking at a shortage of homes.  This means that we are returning back to a sellers market, and Many current sellers are already seeing an increase in their listing and sale prices.   And yet the interest rates are at a 3.75% on a 30 year mortgage!    

Conclusion:  It’s the end of the First Quarter  Buyers vs Sellers and the Sellers have just returned an interception for a touchdown taking a 7-0 Lead.  

The market is on fire and it’s GREAT for the economy and local businesses.  You really couldn’t ask for a better time to get some better deals and get a great interest rate with some Awesome Buying Power!!!!

If you’d like to arrange a time for FREE consultations on buying or selling a home, you can reach out to me at any time. The Coaches Door is Always Open.   Send me a Referral and Get a $500 Credit towards the Listing Commissions When You Sell Your Home With Me in The Future.  

 

 

 
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Posted by on May 22, 2012 in Uncategorized

 
Quote

Sometimes it’s better to spend a little more than you planned, instead of a little less than you should

Zig Ziglar

Calling all Buyers and Move Up Sellers!  The time to take advantage is now.  As they say “Strike while the iron is HOT”  Each month I run a comprehensive Marketing Report for the Fox Valley Area Primarily. However, I will do them for Oshkosh and Green Bay, Wisconsin Markets as well.  The last few months the inventory levels have begun to steadily drop, as the amount of sales and sales prices have continued to increase at a rapid rate.

So what does this all mean?  For the last 4-5 years now, we have seen a drought in home sales and even the buyer incentives failed to change the market place. In fact one could argue that the incentives were a complete failure and many sellers suffered even more as a result.

Fast forward to today: We are now moving homes at a rapid pace.  Foreclosures are still coming onto the market, but the amounts of them are less and less and are gone in days (not weeks)  I myself have written over 25 offers this year and 5 or 6 of them have had multiple bidding wars going on.  

Next blog topic:  How Win a Bidding War on Every Deal You Write!

The market folks is finally turning around and it’s coming with a vengeance.  Many Realtors have never seen anything quite like this.  The buyers market is coming to an end, and by fall this area should be looking at a shortage of homes.  This means that we are returning back to a sellers market, and Many current sellers are already seeing an increase in their listing and sale prices.   And yet the interest rates are at a 3.75% on a 30 year mortgage!    

Conclusion:  It’s the end of the First Quarter  Buyers vs Sellers and the Sellers have just returned an interception for a touchdown taking a 7-0 Lead.  

The market is on fire and it’s GREAT for the economy and local businesses.  You really couldn’t ask for a better time to get some better deals and get a great interest rate with some Awesome Buying Power!!!!

If you’d like to arrange a time for FREE consultations on buying or selling a home, you can reach out to me at any time. The Coaches Door is Always Open.   Send me a Referral and Get a $500 Credit towards the Listing Commissions When You Sell Your Home With Me in The Future.  

 

 

Sometimes it’s better to…

 
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Posted by on May 22, 2012 in Uncategorized

 
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Posted by on May 22, 2012 in Uncategorized

 

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Welcome to WordPress.com! This is your very first post. Click the Edit link to modify or delete it, or start a new post. If you like, use this post to tell readers why you started this blog and what you plan to do with it.

Happy blogging!

 
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Posted by on May 22, 2012 in Uncategorized

 
 
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