April 8, 2009
HLN money expert Clark Howard says, "The key to saving money is you don't look for a house that looks perfect, you look for a house that's a perfect deal that you can fix up for not too much money. You do that and you are going to save yourself a ton."
Foreclosures in the U.S. are up- nearly 30% from this time a year ago! The great loss to the folks being foreclosed on brings enormous opportunity to those looking for a good deal. But---it's not for the weak of heart of the weak of mind....why?
You have to be willing to look past some stuff. Here are some of those things:
Bank owned properties are not usually in tip top shape: Many times, they have not been cleaned; the yard might be quickly going wild or have already become wild. Banks aren't property managers and they just don't have the time to go around and "tidy" up all of their properties in foreclosure.
You manytimes will be competing with other offers: There are many other people out there that are looking for a good deal. They may be investors, maybe just people looking for the next good deal or folks that never thought they could afford a house until now. So, the key here is to act fast! If you like a house that is in foreclosure try to see it ASAP! Then, if you are serious about making an offer don't waste anytime. Another tip I share with my buyers that are going against other buyers is to make sure to make your first offer an offer that would be the most you are comfortably willing to pay. It would be sad to put in a low ball offer just to find out that someone who put in an offer that was lower than the most you were willing to pay got the house from underneath you.
Check back tomorrow for some more things you will have to be willing to deal with if you decide to buy a foreclosure.
Take a look at my market report for today!
http://www.ryanvaught.com/chicomarketreport
Currently Ryan has about 30+ listings in inventory, and has already sold 14 homes in 2009. Please don't hesitate to contact me with any questions about Chico area real estate.
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Keller Williams Office Listings
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| 000 Grubbs Rd, Oroville | $2,275,000 | ||
| Small acreage residential homesite development land located in Oroville. This parcel has 194 acres of rolling residential acreage currently zoned low density residential with ... More Information on 000 Grubbs Rd |
| 2925 Godman Ave, Chico | $2,200,000 | ||
| 18359 Sq. Ft. | |||
| This is 4.3 acres of development ground, not just 24 units. Build 26 new units while you collect rent on the existing units. Assumable loan of just over one million dollars;... More Information on 2925 Godman Ave |
| 2925 Godman Ave, Chico | $2,200,000 | ||
| This is 4.3 acres of development ground, not just 24 units. Build 26 new units while you collect rent on existing units. Assumable loan of just over one million dollars; sel... More Information on 2925 Godman Ave |
| 975 & 977 E Lassen Ave, Chico | $1,000,000 | ||
| 3500 Sq. Ft. | |||
| Brand new triplexes with all new appliances, linoleum & carpet. Tile in bathrooms. Carpets on the stairs and bedrooms. 2 tone paint. Washer/dryer hookup is upstairs. PG&E ... More Information on 975 & 977 Lassen Ave |
| 60 Lazy S Ln, Chico | $950,000 | ||
| 6 Bedroom 4 Bath | 4867 Sq. Ft. | ||
| A remarkable house in a remarkable neighborhood. This property backs up to Little Chico Creek, which in this location, flows most of the year. The neighborhood has mostly es... More Information on 60 Lazy S Ln |
| 22375 Chittenden Rd, Corning | $800,000 | ||
| The highest and best use of this property is commercial 2.63 acres were just purchased by the state for new off ramp to South ave. Appraisal was $55,000 per acre. 16.73 acres ... More Information on 22375 Chittenden Rd |
| 22375 Chittenden Rd, Corning | $800,000 | ||
| 3 Bedroom 2 Bath | 1900 Sq. Ft. | ||
| The highest and best use of this property is commercial. Wonderful home with seperate garage, RV storage and barn 16.73 acres between i-5 and Barham. Wal Mart has just purcha... More Information on 22375 Chittenden Rd |
| 2050 4th Street, Thermalito | $695,000 | ||
| 6100 Sq. Ft. | |||
| Quality bank owned commercial property with a great location. Parcel is 1.39 acres. Potential uses of property include boat, RV or auto dealership, mechanic shop, tire shop an... More Information on 2050 4th Street |
| 2493 Marsh Ct, Durham | $599,000 | ||
| 4 Bedroom 3 Bath | 3255 Sq. Ft. | ||
| Beautiful Country Estate. This home has 2 master bedrooms-would be great for an in-law set up. Formal living and dining rooms with crown mouldings, wainscoting and coffered ce... More Information on 2493 Marsh Ct |
| 838 Pearman Ct, Chico | $595,000 | ||
| 4 Bedroom 2.5 Bath | 3115 Sq. Ft. | ||
| An absolutely beautiful and well kept home. This is a must see! It has separate living & dining rooms with bedrooms upstairs. A scenic backyard along with the pool provides ... More Information on 838 Pearman Ct |
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