Renae Stucki Realtor found this interesting report on home foreclosures. CNN Money reported the other day, that most of the distressed home sales in 2013 were scooped up by investors paying cold hard cash for their deals. Now that may come as a surprise considering the number of homes foreclosed on has dropped radically from previous years.
Still, there are properties on the market and the inventory of available homes is still trying to absorb these distressed sales and correct the imbalance. You can read the article HERE.
So what does this mean for regular folks like you and me? Well, it means a lot of small buyers are competing with professional real estate investors for the best deals. Now granted, a cash deal is the most desirable for the seller, but it’s not always about money.
Remember, this home was a place someone lived, probably raised a family and we all know how attached we can get to our homes. We’ve had articles about this before, but I can’t stress enough how important it is to make your offer as personal as possible.
Consider writing a letter to the seller introducing yourself and include some information on what you like about the property and how you picture yourself living in that space. Sometimes, an emotional connection can sway a sale in your favor. Even banks may choose to sell to a home buyer who will live in the home rather than someone picking up the property as an asset.
Now before we make investors out to be the bad guys, let’s remember what an important role they play. By taking the bad inventory off the market, they allow the economy to right itself and the markets to stabilize. They’re a very important part of the system and are by no means, the enemy. In fact, sometimes these people can do a lot to help a first time home buyer get into a better deal than they could on their own.
It’s not a bad idea to contact an agent and see if they have an investor they work with. Sometimes, these people buy properties in terrible condition, fix them up and sell them for a profit. If you can find one to work with, they may have a property in your price range or work on a property to meet your price range.
Having a buyer already in tow is a great motivator for an investor.
So whether you’re buying or selling, contact Renae Stucki today and let us make all of your real estate dreams come true!
