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Common Characteristics Of Heavily-Discounted Homes... i.e. Possible Bargains...
 
Phillis Lerner's blog makes some very good points. The advantage of heavily discounted non-short-sale and non-bank owned properties is that the deasl ususally goes through withour special contracts and addenda, and without delays and hick-ups!

Via Phyllis Lerner, Realtor - Broker / Owner - Westchester County NY (Legends Realty Group LLC): In the quest to find a heavily-discounted home for sale, many buyers today are looking almost exclusively for short sales or bank-owned properties. But since, in most cases, the banks in question have already agreed to take a loss, it is likely there won't be room for much more negotiation at the table.
Savvy buyers may be wise to look for owner-owned properties for a better bargain in the long run. Here are several common characteristics of highly-discounted homes:
- Look for listings that have languished on the market for 90 days or more. Many owners will hesitate to accept a low offer if the home has been listed for only a few days or weeks... but three months later they are usually much more open to negotiate.
- Find fixer-uppers. Heavily-discounted homes are 73% more likely to need some fixing up. Owners of homes that need some work are ... more

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