Posted by: terryorealtor | October 17, 2009

Investors and buying in this market…..

Just about everyday I hear someone say I want a good deal in a home. You find me a good deal and I will buy.

Reality , at least in our area, if you are seeking the BEST deal for a home, go buy on the Auction steps……..

Why? When REO’s or bank owned properties come back on the market , they are priced at or near the market value. Depending on the amount of work that needs to be done will depend on just how much of a bargain you are getting. If you are seeking investment or flip properties then the Auction steps will be the best avenue to go….However you do need cash.

The amount of work needed to bring to livable condition is another key factor.

Know what you are buying….There are many crack houses for sale that have not been decontaminated and must be according to the state standards before reselling.

Depending on whether you are an investor or buying to live in the home will depend on the best strategy for you.

If you are serious about investing, you need to consider what is happening in the areas you are seeking to purchase.

In some areas, that means, hanging on to the properties for several years before selling or flipping for profit.

Graphs and figures can be adjusted to meet anyones presentation. Know the areas, the population, the employers, ease of commute as well as the community.

Having stated all of the above, if one remains diligent, does their research there are some good deals out there.

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