Agency

6 Replies

My Agent is with one of the companies that deals with HUD and mtg/bank foreclosures. However, she herself does not deal with HUD or foreclosures--that's a different section of the company.
I'd like to work with that section, and not lose my relationship with my agent. Is there danger of that?
thanks.

Thanks. I think it's always good to find out before the fact! :lol: I called her and she's going to set it up.
Some people are beginning to drop prices at least a little. Maybe that indicates interest in further drops. One I had looked at the exterior of several months ago is now 3000 less, and the neighborhood would be okay--but it's still much more than what I would want to pay for it. I'm hoping that means others would be interested in larger reductions!

ofgift

ofgift,

the properties and owners you're referring to probably won't be the type of "customer" you'll make money with as an investor.

let's just say that this house you're referring to that dropped in price 3k was listed at 100k and now is at 97k...

now you're thinking this may mean that prices are dropping and other houses will follow suit. that may be true.

but as an INVESTOR, what you're looking for is these same houses (maybe a bit more beaten up) that have lazy, absent, distressed owners - now you're talking a real reduction in price (and possibly value) of say 25 to 40k...now we're at 60k

you increase the value by making the improvements the former owner could/would not and selling it at a price below the others - say for this example comp'd houses list at 95k - you're selling for 89k for a 20k profit!

that's investing. you have to work your neighbhorhoods, get familiar with other people/investors - let everyone know you're a real estate investor - the next thing you know people will be providing you with leads (most will not be good, but it's something)!

I just expanded my "interest" area. In the MLS was a listing for 172. According to zillow, it had been sold early Jan--a few months ago for 115.
It is not an area I had previously considered, but I think I'll go drive around!
Maybe I can get a few of those before the price goes up.
ofgift