Short Sale Buying In Huntington Beach, California
Buying in Huntington Beach, Calif., has always been an honor and a privilege for the capable investor
. But in 2008, when real estate fell on hard times, the demand was a little less as foreclosures and distressed buyers abounded. Unemployment was spiraling out of control, adding pressure to the bad loans that banks had been making for a number of years. It was a perfect economic storm, and as such, something developed in the Huntington Beach area that hadn't been felt in quite some time: the short sale phenomenon. With short sales, homes sell well below the price they are actually worth in an effort to alleviate foreclosure. It's beneficial to the seller in that it doesn't permanently scar his credit report. It's beneficial to the lender because an empty home is one that loses them money. And it is an incentive to the buyer, who needs reassurance in a down market that he's not simply throwing his money away.
Unfortunately for the savvy real estate tycoon, short sales in the Huntington Beach area are starting to become things of the past. While that means home buying activity and jobs are picking up - an overall good thing for the country - it also means that the most amazing time for real estate investors in the history of the modern world is coming to an end. If one has failed to snatch up the remaining short sales out there, time is running out. As Washington politicians continue to work more at getting reelected than fixing the problems of the country, the U.S. seems to be holding its breath until the 2012 Presidential Election is over before it decides to take off at a faster rate of growth. That leaves a probable 6 to 8 months before the amazing deals that currently exist in the Huntington Beach area are gone for good. What can you do to take advantage?
The number one thing that you must do, once you have verified your credit report and your financial standing, is to seek out a quality real estate agent with the experience in the industry and the knowledge of the area that it takes to know when and where the remaining short sales will become available. You'll also need a solid short sale agent to help you piece together an offer that is low enough to be beneficial yet high enough to be taken seriously. See, short sales, especially those in Huntington Beach, Calif., are fiercely competitive. Once you make your offer, there will likely be no chance for a counter. So you've got to come forward with something that respects the seller, but still makes strong financial sense, or else why play the game?
by: Gen Wright
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