These days I receive many calls from potential home buyers asking me to find them a "Fixer Upper" or "Bank Repo". My response to them usually is; how much work are you willing to do? Secondly; What do you consider a fixer upper? The answers range anywhere from ... oh we can do carpet and paint to I can strip it down to the studs and start over!
What most buyers really mean is that they just want "to get a good deal on what ever home they purchase!" The truth is that a buyer today does not have to buy a fixer or a Foreclosure to get a good deal. The MLSis full of home listings with motivated sellers that are not in distress, that have maintained their homes wonderfully and just want to get their home SOLD! This is the real deal in the market today!
If you are seriously in the market to buy a home now, forget the hype and begin a relationship with a REALTOR that will work for you, not just email you some random listings that they have never seen but just look good on paper. I mean a real agent that will preview homes for you and can negotiate a fair price and terms for you on any property.
Written By, Tina Maraj Shah. Representing Home Buyers and Sellers for 18 Years!
Orange County Register, Sunday January 27th, 2008
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REALTOR Since 1989!
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I had the same kind of calls back in the early 1990's and at that time there was more than a preceived extra value in buying distressed sales.
In today's market environment, banks want a fair return on their investiture into the property and there is no advantage for the buyer...in fact, many disadvantages like "sold as is".
The buyers agent can suffer the consequences, no matter waht level of dilligence they practiced.
Be careful out there....