I get calls about my Cape Coral Listings all the time. Many times during this conversation the buyer says they just want a “good deal”. They are “cash buyers” and when I get a “good deal” just give them a call. For example, they see a home in Cape Coral Listed for $100,000 . The perception of the buyer is: The banks are selling at huge discounts, the market is flooded with homes for sale and I’ll find something worth $100,000 that I can pick up for $50,000 because I am paying cash. They went to an investment seminar or they read something online or they know a friend of a friend who got a “good deal”. I explain that there is a shortage of inventory, prices are up and the 50% discount on an REO or short sale listed in the MLS does not exist.
What buyers need to realize is that buying that house at $100,000 is a “good deal”. The banks may discount at 10% but not until it has been listed for more than 30 days. Most of them don’t last that long. About 70% of closed sales in the MLS are “cash buyers”. We are getting multiple offers on almost every listing and many are selling over the listed price. Prices are at the levels of 2001-2002. Inventory is very low. Yes, there are some deals that can be bought through the court auctions and a few other places but almost of all those properties are being bought by professional investors. They do title searches, inspections, and know exactly what their cost to repair is even before they bid. They have bought and sold hundreds of properties. Their profit margin is 10%-20% and occasionally they hit a homerun. Even with this experience they sometimes make a mistake and break even or lose on a deal. I am not saying it can’t be done but most individuals do not have the resources, the time or the expertise to do this.
I have several investor/buyer/clients who realize buying that home at $100,000 is a good deal and we are working together to find them a property. Maybe we can get it for $90,000 or $95,000. Maybe the property listed at $100,000 is worth $110,000 and we can get it for $105,000. That would still be a “good deal”. My company has the expertise and experience to find the right property for you. Contact me to discuss your specific needs and lets work together to get you a “good deal”. email@example.com