Advantages Of Foreclosures

Investment into foreclosure properties can be a great opportunity for those looking to make money in today’s real estate market. Bank owned foreclosures are typically 15% – 30% less expensive than regular sales. In today’s real estate market, limited foreclosures are put on the market, because if too many foreclosure properties are released at once, then it will depreciate the prices of regular sales. With the current high foreclosure rate in today’s market, this must be enforced to ensure that the current depreciation of regular sale properties do not depreciate more.
With the current low prices of regular sale properties, and the low prices of current foreclosures makes foreclosures a great opportunity for investment. With prices sure to go up in the future, this will make your foreclosure investments more profitable.
The prices set on a foreclosure may also effect other houses within the same neighborhood or region. This is known as a comparable. If the price set on a foreclosure is low, it will have a negative effect on other housing in the direct region or neighborhood.
Also, getting foreclosed houses sold and off of the market helps to narrow the inventory which has a positive effect on prices on other properties in the same region. Less inventory tends to boost sale prices.
The rehabbing potential in foreclosures today is a huge opportunity. With prices so low now, in 5 years the market will change and those that invest into a property that needs repaired or rehabbed will see a huge return when the market increases in property value in 5 years.
It will be important to answer these questions:
What is the average sales price of the homes selling in your area? How many homes are for sale in your area? What is the average commission paid out per side? How much of your commission is left after your broker takes his cut? How much money do you want to make in the coming year? After taxes and expenses? How many closed sides will you need to achieve this goal? What is the fall through rate? Double it, if you’re a rookie. Now how many closed sides do you need after taxes and expenses? How much time is spent on a regular listing for Housing Demand In Indonesia the day of the listing until the closing? How much time is spent on a short sale form the time of the listing until closing? How many leads come in from sign calls? Form the Internet? From open houses? From floor duty? How many listings can you handle at any given time? How many buyers? How much extra should you earn when hiring an assistant for 10-20 hours per week? What part of your work can be delegated to an unlicensed assistant? What part can be delegated to a child of yours that will do it for the sheer joy of working with you?
The Miami market is a great market to invest into foreclosures right now so don’t Real Estate Marketing Strategies 2019 delay! Act now so you can take advantage of this great opportunity today!

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