If you want to invest your hard earned money in real estate, there has never been a better time. There are so many property deals right now with short sales and foreclosures dominating the market. There are so many super deals that the typical seller can’t compete.
Most real estate agents are guiding potential sellers with the fact that if they don’t have to sell, then it’s definitely not the time to put the house on the market. Property doesn’t get the best price when bank property is eating up the market. If you want to see what’s available, real estate agents can get you real estate listings.
And this is a much better way to access all the available properties with the criteria you are looking for in the areas that interest you. Real estate agents have the most up-to-date information at their fingertips and with the search engines found in their Multiple Listing Service, you can dictate that you only want foreclosure listings or any other set criteria.
You can’t expect to find the best deals on properties just by wandering around and looking for yard signs. This is not the most profitable of methods. Once you find a property that interests you and is a great deal, it’s time to act fast. These offers are the only properties that are receiving multiple offers at this time. So there are steps you need to take before you even call the real estate agent and check what’s available. Offers on foreclosed properties must be accompanied by a pre-approval letter.
And there are some stipulations that are not with a traditional sale. You are buying the property “as is”. So if you have concerns, you should have it looked at by someone who is knowledgeable about the structural issues that might be going on with the property. All in all, it’s a wonderful time to get the best deals on real estate.
The government is trying to help eliminate foreclosures from the market by giving incentives like the $8,000 tax credit for first-time homebuyers. The market needs to get rid of these foreclosures or the economy in the mortgage market will not recover. Sales of these properties will help the traditional seller get closer to the appraised value of their property. So resist stock market speculation and consider what your local real estate climate can do for you.