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Foreclosure or a good deal?

Hi everyone. I wanted to discuss the notion of getting a good deal in real estate. So many times I've had clients wanting to buy foreclosures, and god know we have a ton of them right now in Las Vegas. I always ask my clients, do you want a good deal or a foreclosure, because they're not always the same. Most of the times, foreclosures are in very poor condition because of how they've been left unattended. Imagine a house sitting vacant for 6-9months. No one is running the water, no one is maintaining the pool. People can break in without much notice. Many times the people who are being foreclosed on are not too happy about their situation so they...well, they take out that aggression on the property. Now, I'm not saying every foreclosure is this way, but I've seen a bunch just like this. I always ask my clients, a good deal or a foreclosure? If I can find a house that's under market, but doesn't need a whole overhaul, wouldn't that be easier than buying a property that needs a tons of work? Obviously, I listen to what the client wants and show them what matches their criteria. There are a TON of properties in Las Vegas at the moment, and I can PROMISE you, there are some great deals to be had right now.

Felipe Crook

Posted by Felipe Crook on 09/25/2007 11:24 AM

Comments (4)

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4 Comments on Foreclosure or a good deal?

Good question. I think your right, most buyers probably just assume that a foreclosure is going to be a great deal.

09/25/2007 11:32 AM

by Roy Kotz (NPDodge)

I think your right. Foreclosure seems to be the hot button right now and rightfully so. I would use it to get clients in front of you then show them so they can see for themselves. Either way they are working with you now.

09/25/2007 11:36 AM

by Andrew Clemente - Mortgages Made Easy, Inc

Clients come in with the mindset foreclosures are a deal. I explain as you do how that is often not the case, but for these clients seeing is believing. I encourage them to be open minded and see a mix of properties. Often this results in their understanding my point about foreclosures.

09/25/2007 11:43 AM

by Rosario Lewis, GRI ~ DDR Realty, Orange County, NY (DDR Realty)

I think all of you all correct. As long as they get in front of me, I can use my skills in order to convince them that a good deal can be a resale or a new home too. Thanks for the comments.

09/26/2007 11:37 AM

by Felipe Crook (Prudential Americana Group)

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