Anyone out there looking for a home has seen lots of distressed property. There seems to be two markets, the distressed properties than need lots of work and the homes you can move in to and live with little or no changes. The economics of these purchases should be looked at because buying the least expensive house can cost you far more in the short run than purchasing a home that is move in ready with new systems, paint and fixes.
Take for instance the Creek Crossing section of Mesquite Texas. In this neighborhood there are76 houses bought, sold, pending or withdrawn within the last 6 months. Almost a third of these were distressed properties that were purchased at below market rates. The houses had issues like no AC, bad roofs, ruined walls and rugs and other costly repairs. 
As with all distressed properties there is deferred maintenance. When you add these costs up you will find that buying a distressed property will cost you more time and dollars in the long run than purchasing a property that is “move in” ready at a below market rate because of the distressed properties in the neighborhood.
Interest rates are at an 80-year low. Getting the right house at the right price should be easy with all the properties on the market. It is a buyer’s market, kind of. While there are more sellers now than buyers that doesn’t mean the road to loan approval is easy. In fact the hoops that the banks are making people jump through are more difficult than they ever have been. When you purchase a house that has no physical or repair issues this makes the closing on that deal much easier for the bank.
2508 Waterloo Lane is just such a property. Visit the website and see the home to prove for yourself that you could live there today. You will not have to spend anything unless you need a new Welcome Mat out front. Once the smart homebuyer realizes that buying a home in move in condition will be cheaper in the first year than buying someone else’s distressed property this house will be gone.
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