I only want to see foreclosures - Franklin tn real estate

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I only want to see foreclosures - Franklin tn real estate

Franklin real estate - During my open house last week, I had a visitor from Ohio, who needed some help, and since she didn't know anyone in Franklin, I was the lucky one. She said that my listing looked great, but she was only interested in foreclosures.

I try to make a habit of going with flow, don't make waves, the customer is always right. But in this case, she was wrong.

I showed here a few foreclosure and short sale homes, and then I explained what she really needed to know.

The area she wanted to live in (Franklin), doesn't have a very good selection of foreclosures or short sales. Most of the best real estate deals are people who just want to sell their house. So even though buying a bank owned property may be the best approach in Ohio, it's not usually the best approach in Franklin Tennessee.

We do have some fantastic Franklin real estate deals, but the banks usually own the home.

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Posted by Larry Brewer on 09/15/2009 09:18 AM

Comments (13)

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Originally posted at: Williamson County Real Estate: I only want to see foreclosures - Franklin tn real estate

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13 Comments on I only want to see foreclosures - Franklin tn real estate

SEP

2009

Most of the time, buyuers relate foreclosures to low prices. You had the paiience to be a professional and not disagree with her first. Good Luck

Buyers who "only want to see bank-owned" originally think they are going to get a deal and "beat the system". After a few go-arounds with banks who are really looking for over-asking price, all-cash offers....most of my buyes see the value of equity sellers.

It is good you took the opportunity to show the buyer the whole picture-most buyers today think the best home are foreclosures it is up to us to let them know there are great deals in all properties.

Larry,

I have dealt with this many times and explain that sometimes the BETTER deals are simply just re-sales.

If these buyers only knew ahead of time the long and often times frustrating process of purchasing a bank owned home, we'd see a much lower demand for them.

I agree with both Edward and Karen, the media hype and scam artists out there are making it sound like you can find tons of $300,00 homes for $50,000 all you've got to do is purchase one of their "special" foreclosure lists.

I tell them simply, "If you could get a $300,000 home for $50,000 don't you think these 'Foreclosure Specialists' would buy them themselves?"

Larry, that was our market here along coastal Alabama about two years ago. Things changed and we now have several REOs in most towns to see. Even our high end neighborhoods up to $1M have foreclosures.... Sad.

SEP

2009

Edward - i guess when the media keeps spinning stories, the public is going to believe a lot of it.

Karen - It's all about the money, but most homes are in foreclosure for a reason.

Pat - At least we get a chance to meet potential buyers

Stephen - THats what I see.

RIchard - I had one lady who wanted to buy a %600,000 for $300,000. She just didn't understand that the market here is not the same as Florida.

Teresa = I'm not saying that we don't have foreclosures. It's just that they are usually not attractive, or in a good location. The attractive homes in high demand areas are usually not hard to sell, and are never bank owned.

Larry,

Although we still have several foreclosures, most of those are junky. Most people are not walking away from equity or houses in good condition.

We are seeing some incredible deals on flips (rehabbed after trustee's sale purchase) and in some cases, better pricing than REO. People would so lose here if they only limited their options to REO or distressed. FOR SOME REASON though, people love the concept of buying a ratty ugly dirty house and rehabbing it for 10s of thousands more. I don't know for the life of me, why!?!?

Mike - It's the same here.

Renee - It sounds like the land of opportunity in Vegas right now.

SEP

2009

Larry-

Brentwood foreclosures are rare indeed. But , as you say, there are bargains out there, and more to come.

DEC

2009

Larry,
Did she really have any idea what she was getting into? I hope she is extremely handy and willing to put some major bucks into her home after she closed.

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Larry Brewer

Nashville, TN

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Benchmark Realty LLc

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