Best Kept Home Buying $ecret in Kenosha, WI
Without a doubt, this is the best time ever to buy a home. Interest rates are lower than they’ve ever been, and home prices are at record lows. Far and away this is how savvy buyers build wealth. For too long most Americans have over-borrowed and over-spent. This coupled with job losses, medical problems, divorce, etc., have led us to where we are today. However, not all is lost. You see, one of the best kept secrets to building personal wealth in today’s market in real estate is… Short Sales!
A short sale is when a the owner of a property owes more on a home than what it’s really worth, and usually is in default. With that in mind, you as the buyer are in a prime position to get a home that is an outstanding deal. For example, a home that just a year ago would have easily sold in the $300K’s, is now for sale for roughly $259K. This is an outstanding deal, as this home has been well kept, newer, very large, almost 3300 square feet, four bedrooms, two baths, three car garage… you get the drift.
Where’s the wealth building part of it you may ask? See, market value is determined when both buyer and seller agree on a price of something. In this case that something is a house. AT THIS TIME, there is no better place to put your money than in real estate. As the economy continues to rebound, and it always will, the house that just a year ago was valued in the $300K’s, and is now selling in the mid $250K’s… That’s a no brainer! Where else (other than your job) can a person get that much equity that quickly? All this being said, use common sense. Seek out a professional that knows the market well, and can guide you seamlessly through the short sale process as a Buyer. I would recommend that buyers seek out only those real estate agents that are certified as an Accredited Buyer’s Representative (ABR), as these agents have achieved a level of competency that many other agents have not yet achieved. These agents know the in’s and out’s and intricacies of the home buying process like the back of your hand. Additionally, and there’s not a lot of these out there, but when you can, also seek out agents that are intimately familiar with the short-sale process, for example, those agents that hold the Certified Short-Sale Professional (CSP) designation. Not only do they know the buyer side of the transaction, but know the seller’s side of the transaction in great detail.
For more information on short-sales, (or foreclosures), please don’t hesitate to contact me, as I specialize in both of these areas, and by the way, yes, I am an Accredited Buyer Representative (ABR), and also a Certified Short-Sale Professional (CSP). There you go, happy shopping and remember you’re building wealth!
Posted by:
Pete O’Connor
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