What To Expect When Buying A Foreclosed Home

Marketing of homes, condos, and other real estate has changed dramatically in the past decade. Techniques that were effective 10 years ago are largely ineffective today. The proliferation of the internet has enabled buyers to view many more homes in a much more efficient manor.

The panic of recession does not cause just stock sales. Financial crisis often causes apocalypse at the affinity floor plan markets because the banks increase the interest rates and start giving loans harder. The higher rates lead to many people’s inability to pay their mortgage and as a result they lose their homes. At the same times the demand of houses goes down because of the harder access to loans and it becomes even harder for these homes to be sold.

WEBSITE: A website is the key to your virtual investing. To be honest even if you only invest locally in your area a website gives you an advantage over every other investor in your area that doesn’t have one. Why? People tend to look up information for what they want or need, more and more online and if you have a presence there it helps you.

A Realtor might say that “advertising your home does not guarantee getting the right buyer.” It may be true however that some of the money you save on Realtor commissions can be spent advertising your home. Most Realtors stick your house in with dozens of other houses. The ads they buy are to advertise the realty company, not to advertise your house.

Here’s what happened. In the 1990s, the federal government and Congress got the brilliant idea that more people should be able to actually own their home-that home ownership was the “American Dream,” and that little things like being able to actually afford a mortgage didn’t matter quite so much.

Buy a Warranty. Offer a one year home warranty especially if your house is older. A warranty gives potential buyers the assurance you are standing by your sale as well as offering peace of mind in the event something major breaks [like your furnace].

Instead of a phone call, your prospects are an e-mail away. They opted into your list. They want what you’re offering. Don’t drop the ball. Begin the conversation. Send periodic e-mails and offers. Free and otherwise. Give them that extra special treatment they deserve.

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What To Expect When Buying A Foreclosed Home

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