Hi Everybody! I wanted to update you on what has been going on lately. I got the short dale deal closed. From start to finish, it was just three months! And we discharged (moved) a state and federal tax lien against property so we could pass clear title. A very interesting learning experience to say the least. I am working with an investor right now that is buying a REO condo. It listed for $287K. My investor said $232K was where the deal made sense for him so we offered $215K and got the deal at $232K...exactly what he was going to offer in the first place! So let these be a lesson to you...there are deals out there! This came right off the MLS! This is a great market to BUY...so get out there and do it. So we are in the process of closing right now. Lesson? Don't think the banks will only take list price...they will deal!
Save somebody a foreclosure on their credit report and buy it from them! Good luck and get going!!!
Well, the RE market is a little crazy right now. I am listing a property in Ewa Beach for $440K in Hu`elani, 1444 square feet and people can't call fast enough. We just recently listed a property in Kapolei Knolls for $650K and had the same effect -- couldn't answer the phone fast enough. Lucky or right pricing?
On the other hand, as you drive through neighborhoods yousee RE sign after sign, after sign with no results. I went to a house today in Ocean Pointethat listed for $569K and while it is a beautiful home with 5 bedrooms, I am curious to see if it will sell......in less than 180 days......
I was doing some CMA work on 1400 sq ft homes in Ocean Pointe. I was surprised to see some of those had listed as low as $429K and still have been on the market for over 100 days and still had not sold.....
What does all this mean? If you are an RE buyer right now, the deals are out there. Look for short sales, foreclosures, bank owned properties, assets on the market for over 180 days or more and make offers on those. As unfortunate as it is, the fact remains those things happen, so take advantage of it and look at it this way - through your buying of the property, that is one more asset that isn't sitting fallow with the bank,.....and you may save someone from a foreclosure on their credit record.