Currently, houses are staying on the market much longer than in the past. If you are searching for a property, this is good news for you. Often people don't know what to look for in a property to get a good deal.
Here is a real estate tip that can save you THOUSANDS of dollars.
First, you need to be pre-approved (not just pre-qualified, there is a difference). Call me at 800-453-9290 if you would like a free pre-approval consultation, regardless of what state you are in.
Second, you need a real estate agent that will work for you for free. Most agents represent the seller, however if you have a buyers agent, they will work on your behalf and help get you the best deal.
Third, you need a real estate agent that is flexible and willing to make offers for you. (if you need a referral to a qualified agent in your area, send me an email at anthony @ atozlender.com. Ask your agent to do a search to find properties that are vacant, and then ask them to see how long the properties have been on the market. If the seller has a vacant home and is paying two mortgages, they will very likely be willing to entertain a reasonable offer from a buyer. Many MLS listing say this exact thing "will entertain all offers"; I just read this on an MLS printout today after asking on the agents I work with about a property that has been on the market for some time. I am happy to answer questions as far as what seems reasonable if you want some help with that as well.
Lastly, you may want to consider a "fixer upper" or a foreclosure property. These properties may need work, but you can save big and earn immediate equity by buying at the right price. Here are some resources for both:
Foreclosure Property Listing: http://www.bankownedassets.com/ This is the best priced list ANYWHERE on the web. Feel free to search for others and you will see that this is true. It is also a quality list with over a dozen resources including nationwide bank property listings.
Fixer Upper Fortunes: http://www.consumersadvantagemortgage.com/buy-foreclosures
This is an A to Z course on how to buy "fix up" real estate. It comes with a one-year money back guarantee and is available for only $97 through my website (normally $197).
If you know anyone who is thinking of buying, please pass this along to them and encourage them to take advantage of the current downward trend in the mortgage rates.
Until next time...
Anthony
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