Now thats an idea.Now this market has produced opportunities which many potential home buyers might find worth looking into. When searching through the Multiple Listing Service (Service used by real estate agents across the country to access current homes for sale in their particular region) I find many homeowners having lowered their asking prices significantly, sometimes by as much as 100 thousand dollars and in addition to reduced prices desperate sellers have included partial or full payment of closing costs for buyers.

Of course those reasonable home owners who have priced their homes to sell and not priced to sit on the market for 6 months are the ones reaping the true benefits of this market.

Why? Well pricing a home to sell will attract a hoard of buyers who are already driving around or searching the net by the thousands. A home that is priced to sell will inevitably create attention and activity around itself and thus the potential for offers increase and when multiple offers are submitted, a bidding war ensues amongst buyers wanting to buy that particular real estate. Pricing your home at the market is crucial since it increases the chances of competing offers being submitted and have offers which go over your asking price. Isn’t that much better?

Ever seen a hot item on EBAY that was just right or below retail? Many times what was being asked in terms of price was exceeded by the multitude of bidders who wanted to capture the great deal…to the point where the bidder is willing to pay more then retail price because he really “has to have” that “deal” As a seller, pricing your home at the market value will increase activity to your home many times over. You’ll distinguish yourself from other comparable homes with high and now unrealistic asking prices.

When buyers and their agents come across your home, what do you think they will think? How about “Look at this home…” you want buyers to hunger for your property and thus bid up the price not sit on the sidelines if your home is overpriced.

It’s not really what you sell your home for that makes you a savvy seller, even in todays slowing market you’ll still get a nice and profitable net sale after fees deducted. A saavy seller is one who hires a premium real estate agent who can sell their home quickly and turn around and find them a home or investment at a good or bargain price.

Its when you buy that you lock in your good or bargain investment. The key is to move your money as quickly as possible into another investment so as to generate or save you money in the long or short term.

 Opportunities Abound…but which ones?

Lately I’ve been asked by people if this market has produced any “opportunities” which I might be able to find for them. I tell them that yes I can find them opportunities, whether this market or any other market. Opportunities are always around but some times they are more plentiful in some markets than others.

Foreclosures, REO’s, Short Sales, Pre-forclosures, Desperate novice home flipper investors, and so forth have been on the rise very recently, becoming especially noticeable through media publication and television news reports. Visit google.com and type in “Foreclosures” or “Short Sales” and you’ll be bombarded with an assortment of links too numerous to mention here.

Without writing too much, let me give you the definitions of what certain words mean and how they can be opportunities. More info can be found in the tabs found at the top of this web page.

Foreclosure: An all cash deal which is bought at at a court auction. Most people ask if foreclosures are in their area and how they can find out about them. I’m more then willing to help them out, pointing them to sites like Realty Trac

But when I mention that foreclosures are buys which require 100% cash and no loan contingencies are allowed for such a purchase I usually get an “Ohhh, so thats the catch!”

Foreclosures can bring discounts of up to 20% or more but you have to search hundreds if not thousands of foreclosures in order to find the very good deals. It’s a full time job and a real estate agent does not search for foreclosures because it is beyond their scope and no commission or compensation is made towards the agent for looking them up plus it takes a good portion of your time to sit down and actually look for them.

Probates: When an executor (Used when the deceased died with a will or testate) or administrator (Appointed by the courts when no will was left behind or intestate)  authorizes the sale of real estate formally owned by the deceased. Probates can bring in some good deals because the heirs sometimes have no ties, either emotional or financial, and wish to see the property sold as quickly as possible in order to get cash on hand.

There are many ways to buy probates, one way is when the court awards the heirs the property itself instead of cash. The heirs wish to quickly sell the property in order to get their portion. You can negotiate or talk with them about selling you their home and that you can close escrow quickly. You can buy a probate through an agent. Probates that are good deals though are far and few between. Probates require a more thorough explanation which will be covered in more detail in other posts.

Short Sales: Basically when what the seller can sell the home for in the current market is insufficient to cover the debts or liens against the home. If a homeowner wants her home sold for 100 thousand dollars and she owes 125 thousand dollars and the homeowner will not be able to sell above 100 thousand dollars because current comparables say that 100 grand is the most she can get…then a short sale is created. The bank or beneficiary decides whether or not to allow a short sale and asks the sellers listing agent to provide comparables on current local home values and what homes have sold for recently. The bank decides virtually everything and price is set by the bank. Opportunities can crop up if the lender has had the home on the market for a certain length of time and has seen no offers or bids on that particular property, it then may be inclined to lower the asking price significantly. In the above example, though the bank is owed 125  thousand dollars the lender might ask for 110 thousand dollars. 15,000 dollars is a nice chunk of change in your pocket, wouldn’t you agree?

Real Estate Executives

Hello folks and thank you for visiting my small but soon to be informative weblog here on WordPress. The coming days will see additional and updated content which I will personally add as soon as possible.

I hope to provide informative news to all who come to this weblog, whether you’re a neighbor or curious web surfer I do hope you feel comfortable browsing my site and having all your questions answered clearly and eloquently.

My sole purpose is to help educate buyers and sellers. Period. Whether your buying or selling, be it a home or investment property, I have the tools and resources to get the job done efficiently and correctly.

Why wait for mainstream news to tell you after-the-fact-information when I can be your inside man into the ongoings of the real estate business world.

Why not get your info from the agent who is in the trenches day in and day out and give you a heads up about important matters such as: New Bank qualification guidelines, New bank programs, revolutionary mortgage lenders, foreclosures in your area, bargain buys around Southern California etc.

Serving my buyers and sellers needs and getting their bottom line is my top priority. Customer service is critical and I aim to exceed expectations of my clients.

Customer Service: I do not merely pursue it, I define it.