House Hunting - Let's Go

By
Real Estate Broker/Owner with Lisa Glowacki - Rhode Island & Massachusetts

HouseHunting Lic plate

The past two weeks I have been doing some serious House Hunting and research. I have been looking at Bank Owned homes and keeping up on homes that I though were a good deal. The results were surprising.

  1. Somebody must be lending because these homes are selling.
  2. Homes are selling at good prices.
  3. Homes that are priced well are selling quickly.






The week started looking at three family bank owned homes. My first thought is these homes are empty. It is getting cold and people are going to start moving in for the winter. I image it is much the same for areas that are extremely hot but our area happens to be cold. Cautiously we enter the houses and another surprise most homes didn't have any quests yet although some showed signs.

Most of the properties had a lot to offer. Vinyl siding, replacement windows, separate utilities for each unit, dry basements, laundry hook-ups, some new ceilings and fresh paint. Was there work to be done absolutely but if you are looking to have additional income to pay for the mortgage or if you are investing there was value.

Being the research hound I am I had to investigate further. I was surprised to see that the rents were good, the prices were good, and they were selling rather quickly.

Now I'm interested and I am researching anyway so I figure lets look into the properties I have been keeping an eye on. Again pending, pending, pending, sold. Two of them I was quite happy to see in pending status. Two nice homes in my home town. One pending in 14 days. Good, at least two happy families starting a new year.

money bag

Right now the news media seems to be pessimistic.

  1.  1. Banks aren't Lending.
  2.  2. Prices will fall.
  3.  3. Foreclosures will increase.

 

 



can buy sign

The Real Estate Perspective.

     1. There is Financing.

     2.  Negotiations happen every day.

     3.  Interest Rates are good.

 

 

We all realize this conflict will continue for some time to come. However, if you are thinking about buying now is the time to start. There are good values no matter what price range. Get pre-approved to see how much house you can afford. Re-evaluate your portfolio to confirm that properties are still a good investment. Then call me and let's go house hunting.

Happy Holidays,

Lisa 401-369-1766

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Rainmaker
605,399
Kelly Willey
Coco Plum Real Estate, Kelly Willey, FLORIDA KEYS - Marathon, FL
Florida Keys Luxury Sales, Marathon, Key Colony

Lisa:

 

Be careful going in the vacant houses. I usually walk the perimeter first and look for signs of a break in....Kelly

Dec 12, 2008 11:11 AM #1
Rainmaker
174,315
Lisa Glowacki
Lisa Glowacki - Rhode Island & Massachusetts - Tiverton, RI
Real Estate Broker - RI & MA

Hi Kelly, Glad to hear from you. I tried to make an appointment at my office to meet the client but the meeting got canceled and we booked the showings. At the time I never gave thought to people living in the houses or not meeting the client first. I made a list of all the houses and had people call me often to make sure I was ok. Fortunately it turned out fine but I did learn a lesson.

Dec 12, 2008 12:11 PM #2
Rainmaker
1,086,853
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

One thing is for certain..there are some really good deals out there at the moment!

Dec 15, 2008 10:11 AM #3
Rainmaker
174,315
Lisa Glowacki
Lisa Glowacki - Rhode Island & Massachusetts - Tiverton, RI
Real Estate Broker - RI & MA

Hi Bill,

Yes there are some greats deals. Now we have to convince buyers. Especially REOs before people start living in the homes and unfortunately wreck them.

Dec 16, 2008 06:40 AM #4
Ambassador
2,974,416
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

There are many good deals selling in my area too.  I wish the media would report on some of the areas where this is happening... instead of just dwelling on the bad stuff.

Dec 29, 2008 04:42 AM #5
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Rainmaker
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Lisa Glowacki

Real Estate Broker - RI & MA
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