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So You Want To Buy A Forclosure or a Shortsale...

By
Real Estate Broker/Owner with RE/MAX Way

So you want to buy a forclosure or a shortsale. Why? Because you want to get the best deal out there no doubt. Who could blame you, with the way real estate has been super inflated over the last several years.

So is this the way to the best deal? Not necessarily. This "real estate crisis" as it has been dubbed, has opened the floodgates to many an entreprenuer, first time buyer, first time investor, and the legions of long time investors that know, now is the time to buy!

The current real estate market is one of great opportunity for those who have positioned themselves to make a purchase. If you have some money tucked away you are fortunate because now is the time to invest in or buy real estate!

If history has any bearing on what may happen in the future let us look to the past. When looking at graph charts back to the 1950's, we will see a pattern. Steep or steady inclines followed by declines that never bottom out back where they began, but usually go about halfway back, only to return to a steep or steady incline. Many might say "what goes up, must come down"! This sentence is almost complete. What goes down, will not go back to its original base, and must inevitably, come up and eventually surpass its prior peak.

So here we are on the cusp of the fall market of 2008. What is going on in today's market? Will we see a resurgence in the near future? Will prices fall some more?

I say yes! Yes to both of these questions! Some areas are holding there own while others are dipping further into dispair.

In many depressed areas we are seeing Bank Owned and Short Sale properties being priced below market value leading to multiple offers. This is dragging down values on the whole. In some well off areas we are seeing little depreciation and many buyers vying for a well priced good condition property.

Those properties that are in cosmetically impaired or dilapidated are likely still sitting on the market because they are not priced as I have heard them desribed by other realtors and buyers, "turds". Who wants a turd? Someone who sees the value... Any property can be sold when it is priced to compell a buyer to act!

Believe it or not, multiple offers are alive and well.

Deals are aplenty in today's market but they are not for everyone. You must have patience for one. Number two, have a knowledgable realtor in your corner. Number three, be knowledgable enough yourself to pull the trigger when the right deal presents itself!

So, what you really want is the best deal out there! Please feel free to contact me if you have any ?'s about finding the best deals in todays challenging market.

There are many things to consider when purchasing a home and I have trained extensively to ask the questions that help my clients clearly identify their goals so they can make well informed investment decisions. Call me for a free consultation or visit us on the web to for more info and a powerful property search engine at http://www.WatsonHomesFinder.com.

In these dark days, it is helpful to have a realtor with a bright flashlight!