FAIRFAX COUNTY BANK OWNED PROPERTIES - CASH BUYERS FIND GOOD INVESTMENTS - REHABILITATE FOR INSTANT EQUITY.
Bank owned homes are offering good opportunities for cash home buyers, investment buyers, constructions companies, consortium investors, nest egg investors - all seeking buying opportunities.
BUY NOW - REHABILITATE - RESELL FOR PROFIT - A TRADITIONAL WAY TO RECYCLE REAL ESTATE.
MANY HOMES PERFECT FOR REHABILITATION ARE ON THE MARKET. It isn't unusual to see bank owned homes for sale in need of total whole house rehabilitation. Former home owners often neglect critical maintenance when faced with foreclosure. The economy has forced many home owners into financial distress resulting in bank foreclosures. Home buyers who plan to occupy a property following rehabilitation often buy these homes and finance the rehabilitation through "home rehabilitation financing". However, many prospective home buyers do not always have the vision to see the value in buying a fixer-upper. Most home buyers prefer to buy a home that is move in ready. Home buyers often believe that the financing is more complicated than it need be and they gravitate to a home that need minor cosmetic repairs and upgrades.
CHANGING MARKET VALUE FROM THE BOTTOM "DISTRESSED PROPERTY" TO TOP OF THE MARKET
"NEW CONDITION - READY TO MOVE IN".
CASH INVESTOR BUYERS ARE AN IMPORTANT CONSUMER GROUP. Cash investment buyers often have the vision and the ability to BUY - REHABILITATE - and RESELL homes in need of extensive repair and upgrades.
UPGRADE THE KITCHEN. The kitchen is usually a primary focus when a property undergoes extensive rehabilitation. Kitchens are easily redesigned with new flooring, wooden cabinets, state of the art appliances, granite or Corian countertops and built-in features such as wall ovens that make a kitchen more "cook friendly" and help resell.
UPGRADE THE EXTERIOR - FIRST IMPRESSIONS ARE IMPORTANT. Basics for rehabilitation of home exteriors often include a new roof, new siding, pointing up brick, railings on stoops, shutters, and removing overgrown yards and installing attractive landscaping.
CASH INVESTMENT HOME BUYERS OFTEN REALIZE 20-25% EQUITY. Bank owned homes will quite often sell for far under list prices to cash buyers. Investment consortiums, nest egg investors and construction companies are often in a position to benefit from investing in bank owned properties. Once a property is transformed from a distress property into an attractive home, buyers will want to buy and move right in.
BANK OWNED PROPERTIES PERFECT FOR REHABILITATION ARE IN ALL PRICE RANGES AND AREAS
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"BUY ME AND FIX ME UP - I'LL BE A WONDERFUL HOME FOR SOMEONE."
The home above is typical of a home Vienna Virginia, a luxury area of Northern Virginia, ready for rehabilitation. The property is ready for rehabilitation throughout the exterior and interior. However, a new kitchen, bathrooms, rec room in the basement of this Rambler and new landscaping and repairs to the exterior would add $Thousands to the market value of this property.
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Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988. Helping home buyers in Maryland and Northern Virginia. .
To Search for Homes for Sale in Northern Virginia, visit our HOMESDATABASE site for buyers who would like to tour the real estate listings on line with photos, prices, descriptions and features.
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