Archive for April, 2009
How To Make An Offer on a Bank Owned Foreclosure in Orange County, CA
To Schedule a showing for this property, please Click HerePosted: April 27th, 2009
Bart Smith’s
Real Estate Update
April, 2009
How about those interest rates?….Due to recent FED actions, the rates have dropped again, and 30 year fixed rate mortgages are now BELOW 5%. Couple that with today’s low prices and you have a compelling reason to buy. Of course, you do have to qualify for the loan. We have alliances with some mighty fine lenders….Just call me for info.
Is that $8000 tax credit for real?….You bet it is. Just had a client take advantage of it. And hear this: This first time buyer credit is available to the first time buyer, even if another party (like a parent) goes on title with the first timer. The tax credit can be split up between first time buyers who buy together, too. Check it out. Call to get started ! !
Searching for homes has never been easier ! ! ….In the next few weeks, we will roll out our new IDX system through my web site. This will allow you to initiate your own search, change your search criteria at will, and flag properties you want to see. Then I will be contacted so we can get our schedules matched up for showings….so don’t delay….no time like the present to buy a home.
Making offers on Bank Foreclosures….can be frustrating, but rewarding. Since there is only one month’s supply of bank owned properties, you can expect to compete with multiple offers. On average, these are selling at 1% above list price. Of course, some sell way above list price and some sell below. We can guide you through the process. Once your offer is accepted, you will have a short time to do your inspection…………….
Home Inspection helps you know what you are buying….We nearly always recommend a home inspection. The trained, licensed inspector will check out things you won’t even think of. His report will reflect the condition of the property so you can have peace of mind that you know what you’re getting…along with that, my expertise and experience will help you through all the negotiations with the seller, so you can get ready to move!
Finally, expect prices to rise….What, are your crazy? I know it sounds crazy, but I really believe we have bottomed out in the lower price ranges in Orange County. We watch it very closely, since we sell a lot of properties for the banks. Do not expect to buy a bank owned property way below list price. You will just be wasting a lot of other people’s time. We will do the proper research to help you frame your offer to get you the best buy possible. Then you can say you bought at the bottom of the market ! ! !
Until next time,