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Good Evening Everyone, I wanted to focus on a different angle in tonight's post. There has been so much publicity about what great deals foreclosure properties are, that most buyers in the market today think that is what they simply must have when they are buying a home. Even if they have to settle for something that isn't exactly what they want. While I won't deny that the prices on them are very competitive, don't sell yourself short by focusing your property search on foreclosure properties to the exclusion of all other properties. There are many very motivated regular sellers (2 comments)
For the second time this week I have found myself in a multiple offer situation on a REO or Short Sale property. One buyer lost out because he low balled, the second is still waiting because the REO Asset Manager came back and asked for the Highest and Best from the various bidders on the property. It may be a good sign but I am inclined to say it is going to result in a lot of disappointed buyers who waited too long to pursue buying and are now finding that the volume of "bargain" properties has decreased significantly. In our market, (0 comments)
Time is flying by and the tax credit deadlines loom. I have noticed in our area that the move up credit hasn't really done much for our marketplace. A few first time buyers have ventured out to see if they can capture the First Time Buyer credit but move-up buyers have been non-existant. I believe in our market it is because they can't sell their existing homes because the foreclosure sales are dominating the marketplace. How is this working out for you? Are you finding the same thing or are more "Normal" markets benefiting from the second tax credit. Unfortunately (2 comments)
WHAT IF there was a simple fix to the short sale fiasco? What am I missing? - 02/11/10 08:34 AM
Great Post, great idea. Why does everything in today's market have to be so complicated? Via Amy Jones (Chandler, Arizona RE/Max Excalibur): I've been thinking... could there be an easy fix to the short sale industry mess? What if sellers were required to have an approval from their lender PRIOR to listing their home for "short sale"? What if the lender ordered the BPO establishing the sales price that the lender would accept PRIOR to the seller listing the home? What if the lender issued a letter indicating the sale was approved and that the lender would accept $xxx for the sale PRIOR to listing (2 comments)
I just listened to a Webinar today about the guidelines that have been issued by the Governement for the handling of Short Sales. While they sound great in theory, I am not sure they will really help. I read a horror story today of a fellow that had a contract on a Short Sale and it was approaching a year since the start of the process. He was very discouraged because it got all the way down to the end, supposedly, and the second lien holder refused to close unless the seller was willing to sign a promisory note for (1 comments)
Home Buying Decisions! What is the Right one for You? - 02/09/10 06:36 PM
Good Evening Everyone, The time is right and you've made up your mind, it's time to buy a house! You keep hearing on the news how many homes are on the market and how many Bank Owned (REO's) properties are out there just waiting for you, Right? Just about every Buyer in the market today things that buying a Foreclosure property is just what they need to do. But is it really? Is Buying a Foreclosure the only option or the best option for your individual situation? When you decide you are ready to buy a home, you need to think (0 comments)
Perfect for the extended family or anyone who wants lots of space. This home was customized to include two complete living areas with a central kitchen. Both areas even have their own entrances and decks for outside living. Placed on a full acre corner lot, this home has gorgeous views as well. Community is an established Manufactured Home community with maintained roads, all utilities, and the is just off a main State Highway for easy access in any weather. Priced very competatively at $172,500. Home is a 2001 Palm Harbor and is set to FHA specifications.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.