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Got BUYING POWER? Yes Indeed! - This is a Buyer's Market, also known as a "soft" market. If you buy now you are utilizing one of the best investment strategies for your future.
- Buy when the prices have decreased, and when you have the most negotiating power.
- There is plenty of inventory. Buyers can take their time selecting their dream home. This is the time when you will find the least competition from other buyers, many of whom may wait until the market turns again.
- There are many Short Sale Listings and Bank Owned Listings competing for your attention. Select a Realtor who is trained and has experience with these properties.
One might wonder why there is such a frenzy of buying when the real estate market cycles into what we call the Seller's market, also known as a "hot" market. During this period market values are increasing. Houses are selling within a few days of listing, and the buyer's lose most of their negotiating power. This is a great time to be a Buyer! Interest rates are attractive, homes for sale are plentiful. Select a realtor who will help you get the maximum value for your investment. Take advantage of this market and utilize the best investment strategy for your future. Be a BUYER in a BUYER'S MARKET! The Sellers are waiting for you. ...Looking out for you!
Kim Beach
Realtor TeamBeachREO Licence 01819337 Residential Specialist - Certified in Short Sales, REO and Bank Owned Property Life's A Beach! 951-870-9111 KBeachRealtor@Gmail.com
Buying and Selling Real Estate
-stress free!
Experience Pays!
Accountable to you!
Customized service for you!
Happy Escrow! Happy Closings!
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Buying REO/Bank Owned Homes
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KNOW Real Estate NOW! There is a lot of interest in buying bank owned properties and foreclosure sales these days. Often, buyers are lead to believe that they can make a lot of money with little effort when buying REO or foreclosure sales. The fact is that it takes knowledge and effort to make money on these purchases. What Is An REO?
REO stands for “Real Estate Owned”. These are properties that have gone through foreclosure and are now owned by the bank or mortgage company. This is not the same as a property up for foreclosure auction. When buying a property during a foreclosure sale, you must pay at least the loan balance plus any interest and other fees accumulated during the foreclosure process. You must also be prepared to pay with cash in hand. And on top of all that, you’ll receive the property 100% “as is”. That could include existing liens and even current occupants that need to be evicted. A REO, by contrast, is a much “cleaner” and attractive transaction. The REO property did not find a buyer during foreclosure auction. The bank now owns it. The bank will see to the removal of tax liens, evict occupants if needed and generally prepare for the issuance of a title insurance policy to the buyer at closing. Do be aware that REO’s may be exempt from normal disclosure requirements. In California, for example, banks are exempt from giving a Transfer Disclosure Statement, a document that normally requires sellers to tell you about any defects they are aware of. Is REO A Bargain?
It’s commonly assumed that any REO must be a bargain and an opportunity for easy money. This simply isn’t true. You have to be very careful about buying a REO if your intent is to make money off of it. While it’s true that the bank is typically anxious to sell it quickly, they are also strongly motivated to get as much as they can for it. When considering the value of a REO, you need to look closely at comparable sales in the neighborhood and be sure to take into account the time and cost of any repairs or remodeling needed to prepare the house for resale. The bargains with money making potential exist, and many people do very well buying foreclosures. But there are also many REO’s that are not good buys and not likely to turn a profit. Ready To Make An Offer?
MLS REO properties are usually sold “as is”. As with making any offer on real estate, you will want to find out as much as you can about the condition of the property and comparable sales. Your realtor can guide you with making your offer with the appropriate contingencies and documentation. Most banks have a designated REO department, and will use a listing agent to market the property in the localYou will be dealing with a process that probably involves multiple people in the REO department. It is not unusual for the bank and the buyer to go back and forth with several counter offers over a period of many days to even weeks. There is a lot of interest in buying bank owned properties and foreclosure sales these days. Often, buyers are lead to believe that they can make a lot of money with little effort when buying REO or foreclosure sales. The fact is that it takes knowledge and effort to make money on these purchases. |
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SELLERS: You Can Be A Winner in a Buyer's Market!
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SELLERS do not despair! You can be a winner in a buyer’s market! Regardless of the cycles that the real estate market goes through the fact is that people continue to sell and buy houses. The basic need for people to move, relocate, down-size, and up-size exists in any market. The key to success is: Adjusting to the market conditions Preparing your house to sell Pricing it right Marketing the house aggressively
Real estate values have adjusted. It is challenging to be a Seller in this market. If you are thinking of selling, contact me for a market analysis of your home, and a customized marketing plan to showcase and sell your home. And remember - today you may be the SELLER, but tomorrow you will be the BUYER! ...Looking out for you!
Kim Beach
Realtor Residential Specialist
CERTIFIED in Short Sales and REO/Bank Owned Property Life's A Beach! 951-870-9111 KBeachRealtor@Gmail.com Buying and Selling Real Estate
-stress free!
Experience Pays!
Accountable to you!
Customized service for you!
Happy Escrow! Happy Closings!
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