Distressed Properties Market Update

Distressed Properties Market Update
With the market values of homes recovering from the 2005-2007 previous high’s, distressed properties are few and far between. We are seeing homeowners who purchased at the previous high, selling their homes and getting equity out of the sale, or at least breaking even.
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Why You Need A Real Estate Agent

Shannon Rose Real Estate - Why You Need A Real Estate AgentWhen you hire an experienced Real Estate Agent, you are essentially hiring a project manager. The agent will be able to guide and educate you through the home buying process. There are many people involved in the process, as well as many paper/emails and phone callings going back and forth, and important steps, to ensure a smooth transaction. In addition to the process, an experienced Agent can give you the best advice about the market, and what is currently going on, as well as a projection of what is to happen in the near future. This can be a huge asset, and could make or save you a lot of money. Another large asset to working with a good agent, is their experience with Sellers Disclosures and Inspection reports. These reports and disclosures are very critical and tell a lot about the property, and what you should pay for it.

We encourage you to speak with a few agents, to get an idea of each’s experience and professionalism, any agent can show you a home the difference is in their background and market sense.
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Offers for Sellers Do’s & Don’ts

Shannon Rose Real Estate - Offers for Sellers Do's & Don'tsThe offer process can be one of the most stressful and emotional parts of the process. In a competitive market, there are often multiple offers, ranging in price, contingencies, closing time frame and financing. All terms must be reviewed as a whole in an offer, and compared to other offers. It is also important that your agent calls any of the lenders, for Buyers that are financing, to ensure that the lender has properly qualified the Buyer. When determining which offer to accept, it’s best to go with your gut!

Do – Depending on the market, it may be best to review offers for sellers like you as they come in (first come basis), or set an offer deadline after the open houses. In a competitive market, is it usually best to set an offer deadline, so all offers come in at the same time, and you can compare them to each other.

Don’t – Discount a financed offer, over an all cash offer. Depending on the financed Buyers qualifications, it could be just as good as an all cash offer.
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