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Mesquite Nevada Foreclosures - Price Your Home Like a Bank Owned Foreclosure

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Real Estate Agent with Desert Gold Realty - Mesquite NV Homes For Sale DRE# S.0072173

Homes listed for sale in the Mesquite MLS and Foreclosure Properties - What do they have in common?

Well, it should be the price.

People who might want to buy a home in Mesquite NV are asking about bank owned foreclosure properties.  They are looking for the best house for the least money.  They want a "smokin' deal."

Can you blame them?  NO.

Mesquite is experiencing a buyer's market.  We have a good supply of foreclosure properties on the market - bank owned homes.  As the banks get more inventory, they get motivated.  Buyers are starting to jump off the fence and look at these bank owned homes for sale in Mesquite!

But people who want to buy a home also want to see other homes for sale that compare in price.  A buyer might be willing to give up some of the features that he is looking for to get a good price, whether it is a bank owned home or one from our large inventory of homes for sale in Mesquite.

For information about buying a Mesquite NV bank owned foreclosure property

Anyone who wants to list a home and sell in our current market will need to price it to compete with the bank owned homes in our Mesquite local market.  Or expect to wait a very long time for the home to sell.

 

The owner of this home considered the market when he listed his home for sale at 880 Tucson Mesquite NV 89027 and priced it to sell at $150,000 - and he is even willing to help a buyer with closing costs:

 

Mesquite Nevada Home For Sale 880 Tucson Mesquite NV 89027 - Foreclosure Properties

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JL Boney, III
Coldwell Banker - Columbia, SC
Columbia, SC Real Estate

I've been explaining to my sellers that if they really want to sell their house, they have to price it right. And these days that means pricing it to compete with the banks.

Nov 20, 2008 12:48 AM
Virginia Hepp - Mesquite NV REALTOR
Desert Gold Realty - Mesquite NV Homes For Sale - Mesquite, NV
Mesquite NV Homes and Neighborhoods - Search MLS

JL - yes, if they want to sell the home, they have to consider the foreclosure properties as direct competition - also, the banks are starting to offer incentives to buyers - they are starting to pay attention.

Nov 20, 2008 04:21 AM
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Virginia, it's great when sellers take into account the "real" marketplace and the competition they are up against. Glad you got them to price realistically. Very nice home with wood decking!!

Nov 20, 2008 09:57 AM
Virginia Hepp - Mesquite NV REALTOR
Desert Gold Realty - Mesquite NV Homes For Sale - Mesquite, NV
Mesquite NV Homes and Neighborhoods - Search MLS

Gary - Thanks - it is a beautiful home, looks like it was staged - these sellers are very realistic and know that all the buzz is about foreclosure properties - in Mesquite, like other areas.

Nov 20, 2008 11:56 AM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Hi Virginia!  Former high-end clients of mine are calling me wanting to find a foreclosure now and they want one DIRT cheap!  Unfortunately for them, the ones that ARE dirt cheap are in areas that has alot of rentals, etc.  Conversely, the sellers still want those 2006 prices when they truly do, as you pointed out, need to price them according to their competition.  It's a vicious circle and if they want to SELL now, they need to play the game!

Debe in Charlotte

Nov 20, 2008 12:28 PM
Virginia Hepp - Mesquite NV REALTOR
Desert Gold Realty - Mesquite NV Homes For Sale - Mesquite, NV
Mesquite NV Homes and Neighborhoods - Search MLS

Debe, I know - I feel bad for the people who really need to sell, and it is tough being the one to dish out reality checks, but the fact is, if foreclosure listings are a better deal, people will buy them and spend some $ to fix them up if necessary.

Nov 20, 2008 12:59 PM
Not a real person
San Diego, CA

It's amazing that there are Realtors here who not only take a listing for a property that is priced $50,000 higher than everything listed nearby, but they'll even price it $50,000 higher than the identical floor plan that sold a year ago, which is when they started "thinking about" selling it. Maybe if I were just a listing Realtor and not a service Realtor.

Nov 20, 2008 03:17 PM
Virginia Hepp - Mesquite NV REALTOR
Desert Gold Realty - Mesquite NV Homes For Sale - Mesquite, NV
Mesquite NV Homes and Neighborhoods - Search MLS

Hi Russel, many Realtors play the number game, the more listings the better - it is doing a huge disservice to the seller, who may end up in foreclosure himself if the property sits on the market and the payments are too much for him.  Also it takes a lot of work to set up the internet ads and do the paperwork, real estate agents are wasting their own time, too.

Nov 20, 2008 04:50 PM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Virginia,

This is why I am shy of taking listings now. I would have to tell the sellers exaclty what you say, that they need to price it like REO in order to be able to sell, and they are not happy hearing this.

 

Nov 22, 2008 11:43 AM
Virginia Hepp - Mesquite NV REALTOR
Desert Gold Realty - Mesquite NV Homes For Sale - Mesquite, NV
Mesquite NV Homes and Neighborhoods - Search MLS

Jon - this smart seller already knew what he needed to do to sell - get in tune with the foreclosure properties and offer an incentive to compete with new homes.  It is tough being the messenger, isn't it?

Nov 22, 2008 11:55 AM
Pam Dent
Gayle Harvey Real Estate, Inc. - Charlottesville, VA
REALTOR® - Charlottesville Virginia Homes / Horse

It is very hard for sellers to compete in price with the foreclosures.  Unfortunatley many are not able to bring the price down enough to be competitive due to how much that they still owe on their mortgages.  Hence we are seeing multiple offers on the REOs and seller owned properties languishing on the market.

Nov 23, 2008 01:19 AM
Virginia Hepp - Mesquite NV REALTOR
Desert Gold Realty - Mesquite NV Homes For Sale - Mesquite, NV
Mesquite NV Homes and Neighborhoods - Search MLS

Pam, and worse, some sellers are being forced to try to short sale their property to get out before it is foreclosed upon - and short sales here are just not working out.  It is so rough on them.

Nov 23, 2008 10:00 AM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Virginia,

I also wanted to say that I liked the virtual tour. Nothing over the top, but clean, nice and pleasant.

Leaves good feeling and this is exactly what you want.

Dec 27, 2008 02:23 PM
Virginia Hepp - Mesquite NV REALTOR
Desert Gold Realty - Mesquite NV Homes For Sale - Mesquite, NV
Mesquite NV Homes and Neighborhoods - Search MLS

Jon - thank you, I like it, too.  It is so easy to do with Real Estate Shows, everybody has been using them for a while now, I am glad I signed up.

Dec 27, 2008 03:20 PM
Virginia Hepp - Mesquite NV REALTOR
Desert Gold Realty - Mesquite NV Homes For Sale - Mesquite, NV
Mesquite NV Homes and Neighborhoods - Search MLS

Rick - looks like a great tool, if I had more foreclosure listings, I would probably consider it.  Thanks!

Jan 08, 2009 01:48 AM
Terri Kincaid
ERA Brokers Consolidated - Mesquite, NV

Good advice, Virginia. Thanks for pointing that out. So many people ask about the "cheap" foreclosures.

Jan 08, 2009 07:14 AM
Virginia Hepp - Mesquite NV REALTOR
Desert Gold Realty - Mesquite NV Homes For Sale - Mesquite, NV
Mesquite NV Homes and Neighborhoods - Search MLS

Yes, they do - foreclosures can be a very good deal for a buyer, but you must be careful - make sure your agent knows the market.

Feb 20, 2009 02:12 PM
Anonymous
student bank foreclosure listings

Just studying bank foreclosure listings, and realize how valuable current information is.

Sep 08, 2010 06:21 AM
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