Find The Perfect Investment Property More Efficiently
The current economic climate is ripe for you to enter the real estate market as an investor
. With record number of foreclosures and short sales, it has certainly become very favorable for the buyer who has patiently waited for this opportunity.
There are so many uber deals that the typical seller cannot compete. Most Realtors are guiding potential sellers with the fact that if they do not have to sell, then now is definitely not the time to put the home on the market. Property is not getting top dollar when the bank owned property is eating up the market.
If you want to see what is available then Realtors can get you the real estate listings. And this is a much better avenue to get access to all available properties with the criteria that you are looking for in the areas that interest you.
Realtors have the most up to date information at their fingertips and with the search engines that are in their Multi Listing Service, you can dictate that you only want the foreclosure listings or any other set criteria. Driving around and looking for "For sale" signs is generally not the best way to look for good property deals.
This is not the most profitable of methods.Once you locate a property that interests you that is a super good deal,it is time to act quickly. These deals are the only properties that are getting multiple offers right now.
So there are steps you want to take prior to even calling the Realtor and checking to see what is available. You must have your pre-approval letter from your mortgage lender handy when you are making an offer on any foreclosure properties.
And there are some stipulations that are not with a traditional sale. You are buying the property "as is". So if you have concerns then you should have someone look at it who is knowledgeable about structural issues that could be going on with the property.All in all, it is a wonderful time to get the best deals in real estate.
The government is trying to help in clearing the foreclosures from the market by giving incentives such as the $8000 first time buyer's tax credit.
The market needs to be rid of these foreclosures or the economy in the mortgage market, will not recover. The sales of these properties will help the traditional seller be able to get closer to appraised value for their own property.
So resist the speculative stock market and consider what your local real estate climate can do for you.