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Tag: "BPO"

How to Get Killer Short Sale Comps

How cool would it be if you could know upfront and in advance what price the lender will accept on your short sale offer?

That’s exactly what you get to know if you follow this killer short sale strategy (click play to watch…)

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Are you struggling with short sales? One of the biggest issues is knowing what price the lender might accept.

There is an easy way to find out!

Every day in your area, dozens of properties are sold (or not sold) by lenders at trustee sales or foreclosure sales.

Many of these properties ended up at the sale because of failed short sale negotiations.

Here is the “Ah-Ha” moment: The same lender who was stone walling you and not letting you know what price they would really go for, reveals the price right here – in the opening bid amount of the trustee sale or foreclosure sale!

Now that the volume of foreclosure sales is so high, the opening bid amounts of comparable properties are true short sale and wholesale comps. Use them to add to your powerful arsenal of short sale negotiation weapons.

This powerful strategy – and many more are inside GotForeclosure’s Short Sale Secrets – now available for a limited time at 50% off – click here for more!

Questions or comments? Leave them below and get more exposure for your own real estate investing!


Top 5 Must-Dos in Real Estate Market Research

Have you been wondering why it seems hard to sell properties in a slow or down market?

Maybe you have not updated your market research to include this Top 5 List of Market Research Must-Dos.

This Top 5 List applies to any market, and any type of real estate investing.


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Top 5 Must-Dos in Real Estate Market Research

Top 1: Find out which market segment is selling more and faster than others.

This can apply to a certain neighborhood, a specific price range, a specific size and type of home, and a specific condition of the home. You can find out this information from your agent and/or title company.

Top 2: Find out what type of buyers are active in that market segment.

In many markets FHA buyers are covering a certain price range and type of properties. If that is the case, pay close attention to the condition of these properties, and the price ratio between FHA buyers and other properties on the market, particularly bank owned listings! If you want to focus on flipping deals to rehabbers, find out which properties were cash transactions or closed with non-traditional financing.

Top 3: Take a closer look at the sold comps of only the last 3 months.

If you see a declining tendency in this time frame, make room for further price drops in your offers. Older comparables are more likely to be out of date and should not be considered.

Top 4: Compare inventory levels and emphasize active listings in your overall analysis.

If inventory levels are rising, you can expect longer marketing times and possibly lower selling prices. You can predict inventory levels by considering your foreclosure filings. If you have a large increase of trustee sales in the specific area, inventories will likely go up by a similar ratio, after a certain lead time (about 2 months).

Top 5: Make sure you are aware of any outside influences that may be important.

At times, your area may be affected by certain government or other programs that have been announced, or are going to expire. These programs, like the “First Time Home Buyers Credit” taht is currently in effect can strongly influence buying behaviour – sometimes only in specific market segments.

Having a list like this is very important and can also be used to estimate “BPO’s” for short sales etc. Always do your homework, and you will be able to leverage this competitive market insight to your or your clients’ advantage.

Please let me know if you have anything to add to this list, or if you have any question or opinion about this list! – Just leave me a comment!