Buying in our current market.....
Posted 11-29-2011 at 10:17 AM by tanmctee
Life has been busy!
I am severely behind in sharing information and posting.....this is good and I am thankful; however, I apologize to my regular readers for the significant decline in posts.
I think I'm caught up and now at a manageable pace to keep my blog updated on a regular (rather than irregular) pace.
I'm definitely thankful to have experienced an increase in real estate sales/purchases in the past year and excited to see people taking advantage of the values in our current market.
The process of buying in these times is not an easy one. Short sales, REO (bank owned), investors, can I get financing, should I pay cash, regular sales, asset management companies, middle men, auctions, buying on the court house steps.....there are few COMMON or REGULAR processes these days and a seemingly simple real estate purchase can become complicated.
HOWEVER, those who can hang in there through some inconvenience, repair needs and any other number of risks possible with today's real estate purchase can find great value in today’s market.
When buying (and selling for some) bring nerves of steel, I have witnessed and heard stories almost daily ---- buyers lose a house they really wanted because the bank and home owner (seller) could not come to an agreement on short sale; buyers who were in a multiple offer situation lose to a higher bidder; homes close in two weeks and homes that appeared to be simple take longer because of the number of "hands" involved with the closing.
It is often frustrating to Real Estate Agents involved in transactions on behalf of their clients....we are only able to do so much to keep the wheels oiled and transactions moving forward at a pace we would prefer. Every deal seems to teach a new lesson....
In REO (Bank Owned) transactions there are often multiple investors involved and the banks have to get approval. On Short Sale properties the bank and home owners have to reach agreements and the account managers for the banks have many checklists they maintain before moving forward.
Buying in our current market is not an easy process; however, it is still a good time to buy. There are great financing opportunities, fantastic values and prices are lower than they have been in decades.
Do not despair, hang in there and be ready to spend some time waiting.....
I am severely behind in sharing information and posting.....this is good and I am thankful; however, I apologize to my regular readers for the significant decline in posts.
I think I'm caught up and now at a manageable pace to keep my blog updated on a regular (rather than irregular) pace.
I'm definitely thankful to have experienced an increase in real estate sales/purchases in the past year and excited to see people taking advantage of the values in our current market.
The process of buying in these times is not an easy one. Short sales, REO (bank owned), investors, can I get financing, should I pay cash, regular sales, asset management companies, middle men, auctions, buying on the court house steps.....there are few COMMON or REGULAR processes these days and a seemingly simple real estate purchase can become complicated.
HOWEVER, those who can hang in there through some inconvenience, repair needs and any other number of risks possible with today's real estate purchase can find great value in today’s market.
When buying (and selling for some) bring nerves of steel, I have witnessed and heard stories almost daily ---- buyers lose a house they really wanted because the bank and home owner (seller) could not come to an agreement on short sale; buyers who were in a multiple offer situation lose to a higher bidder; homes close in two weeks and homes that appeared to be simple take longer because of the number of "hands" involved with the closing.
It is often frustrating to Real Estate Agents involved in transactions on behalf of their clients....we are only able to do so much to keep the wheels oiled and transactions moving forward at a pace we would prefer. Every deal seems to teach a new lesson....
In REO (Bank Owned) transactions there are often multiple investors involved and the banks have to get approval. On Short Sale properties the bank and home owners have to reach agreements and the account managers for the banks have many checklists they maintain before moving forward.
Buying in our current market is not an easy process; however, it is still a good time to buy. There are great financing opportunities, fantastic values and prices are lower than they have been in decades.
Do not despair, hang in there and be ready to spend some time waiting.....
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