I just had a client who was buying a "builder blowout". The builder was offering a 2800 sq ft. concrete block home with barrel tile roof in a gated community for ....ready?...$230k!
They were trying to close their books on '07.
Now that the sale is over the new price for the same model is....$311k! My client just made $81k in equity in a month. In a down market.
Lesson. Use this story to get your buyers off the fence. There are deals out there and the decisive will be well rewarded. Get your clients approved early so they can 1. fix any errors in their credit and 2. be ready to act when the opportunity presents itself.
Now go help your cleints make some money!
Hope this helps,
Dan Dowling
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