All Forum Posts by: Phil Z.

Banks almost always want close to list price.  If you feel its over priced, make the offer anyway and after it's rejected let the broker know to contact you if they decide to move on the price. ('back up offer').

Other than that, there's a lot of competition out there and the MLS is looking less and less profitable. It's nearly impossible to hit-a-home-run with the starter homes these days because 'the market' will bid up the price.

 What Wayne said.   If you want a pre-market sneak peek, you may be able to get on some brokers VIP list .. but at the end of the day it won't really give you much of an edge.  

REOs are not for sale prior to being listing.

I would not bother attorneys.  In CT one office handles 99% of the foreclosures and they have nothing to offer you.

I suggest you utilize a Buyer Agent.

I wouldn't try to deal with the listing agent unless you're very likely to make an offer. 

You should have a ballpark idea on what the neighborhood will sell for and a very rough estimate of the condition/repair costs based on the photos.

It's no accident you left feeling like you still needed to know more.  They have other sales products for that info too. :)

Eventually you'll figure out that without the fluff and the hype .. it's very simple concepts, however, what you really need to know requires experience or money:

- How to value properties (requires MLS access and experience)

- How to recognize and value needed repairs (requires experience)

- How to find properties that can make a profit.  (takes a lot of time and/or money).

Believe me, you're not the only one in your area competing for deals.  You need to be a skilled marketer or have a big budget for advertising.

Bridgeport is probably the closest town in Connecticut where prices get very attractive.  There are lots of NY investor owners there.

I don't think that will net you the most money.  Makes you look desperate.

You need to have financing in place priorities making offers.  If your lenders are on board theyvcan provide you with a letter.

Hi Steve.  Welcome.   Which field of investing are you focusing on?

Hi Jack .. Welcome!   I sell REOs and work with select investment buyers in the shoreline area.

New Haven, CT.   Home of Yale University.