How do you get the BEST DEALS in Real Estate in this Market?
Here is some great information if you are looking for a real estate deal. The best advice is to position yourself to take advantage of the opportunities as they present themselves.
One of the most common questions these days is "How do you get the BEST Deals in Real Estate in this market? With the amount of currently listed homes declining here in NH and the amount of Buyers increasing, there is a competition to the Best deal. The answer will be different for each buyer depending on if they are Owner Occupied or Buying as an investor. What consititutes "The BEST" may not be the same for each Buyer. Most Investors will not tell you their secrets because they do not want competition. Most agents will not tell you their secrets becuase they want to keep their Listing Sources to themselves.
1. RETAIL PRICING VS WHOLESALE PRCING: The first thing to note is "How is the property priced". You will hear investors state that is "priced at retail". What is retail? Simply put a Retail Price is "Market Value". Retail value in today's market can still be a great price. For an Investor, they want to buy at a price lower than market value, often called "Wholesale" Value, some call it "Fire Sales" or the "30 day Price" of a "Cash Price".
2. HOW DO YOU DETERMINE IF A PROPERTY IS PRICED AT RETAIL OR WHOLESALE? A buyer needs to assess what the property is worth in todays market and deduct for repairs. This task can easily be completed by a well expereinced Buyer Broker.
3. ARE THESE DEALS IN MLS? Most homes are om MLS. Timing is everything. You need to see the property when it hits the market. Bank Owned Homes these days are priced to sell. Often they are priced below market value to spur mulyiple offer at or above asking price.
4. WHAT IS THE SECRET TO GETTING THE BEST DEAL?: The secret is being READY, WILLING and ABLE to purchase a home when it hits the market.
a. Get Pre-quailified: Every Buyer should be pre-quailifed before they look at houses with a LOCAL and TRUSTED Loan Officer. Take teh extra step and submit your bank statements, pay stubs and tax returns to become pre-approved. In most cases you can not submit an offer without this.
b. Do your homework: Most leading listing agents of Bank Owned Homes have these listing 1-3 months before they hit the market, A good listing agent pre-markets the home while it is being cleaned and priced. You can view the home, inspect it, research it and be ready when it does hit the market to make the best possible offer.
c, Do not hesitate: Most new homes are priced to sell are selling within 7 days, a lot of my listings are flooded with offers the first day. You may not have time to "Low Ball". You may need to make your best offer up front if there is a lot of interest.
5. AUCTIONS; Auctions are often for the true professionals. Most auctions will not accept contingincies such as mortgage or inspection. You may be responsible for any back taxes, 2nd mortgages ir back OA fees so do you homework.
IN CONCLUSION: Buying a home in this market whether an investor or Owner occupant should follow a similar path. For Owner Occupants know what type of mortgage you are getting and if theh ouse meets those specifications. Investors know the BEST deals are homes that need the most work. Paint and carpets is most commonly needed in every Bank Owned Home. Although these 2 types of repairs are the least expensive they scare the most buyers away as some buyers can not see past what is in front of them. To get the Best deal you need to communicate with the leading Listing agents or have your buyer broker do so. Be ready, willing and able and the deals could be yours.
It does not take magic to turn your "For Sale" sign into a "Sold" sign. it takes a full time Local Agent who specializes in Listing homes like yours.
If you need to sell your home and you owe more than your house is worth, i may be able to help. I specialize in working with home owners to get your home sold. There are many options such as a short sale whcih may be able to help you.
Please try and avoid out of state or out of town agents and companies that make "out of this world promises". We are local agents with experience who never charge any up front fees. WE GET RESULTS!!!
If you need to sell a home in New Hampshire I can be that agent for you. I strive to provide the best personal and professional service through each step of the selling process.We stand by you through every step in selling your home.
If you are Looking for a Real Estate Agent you have come to the right place. Scott Godzyk is a Full Time and Local agent ready to serve all of your Real Estate needs through each step of the buying or selling process. We are proud to be locally owned and operated.
If you owe more than your house is worth, If you are behind in your payments, I may be able to help. Call me to find out how you may be able to sell your home at no additional cost to you.
Scott Godzyk is the Owner/Broker of The Godzyk Real Estate Services located in Manchester NH. With 25 years of Real Estate experience Scott specializes in Listing and Selling Bank Owned Homes, Short Ssles, Residential Properties, Condominiums, New Construction and Investment Properties. Scott services the counties of Hillsborough, Merrimack, Rockingham and Belknap. To contact Scott Godzyk please call 603-661-2121 or email sctprop@aol.com. his website is www.ScottSellsNH.com.
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