Chances are if you are reading this then short sales are serious business in your household...after all, not everyone has the discipline to pull away from a trimmed turkey and endless hours of football and family conversation to catch up on their short sale blog. Fortunately, there are plenty of things for short sale and REO investors to give thanks about this Thanksgiving; despite media reports to the contrary. 1. Holidays are great times to make an offer. Few buyers are out and about shopping for real estate so make it a priority to be one of those that let it work for you. While everyone else is out and about trying to find parking during Black Friday - create your own amazing deal by drawing up a short sale contract.
2. Interest rates remain attractive. Seriously folks, owner occupied 30 year mortgages have recently dipped below 5% making it easy to resale a home or take advantage of great rates for your own purposes. Even investor loans are stalling in highly affordable 6 to 7 percentage points making short sales more attractive than ever.
3. People are sick of spending & saving. It's been a long, hard year for many people and they just want to enjoy the holidays and make a fresh start this New Year. For those that have been cutting back month after month, they want to have some wiggle room that allows them to have a realistic budget again. For those that have been spending money they don't have...they are increasingly ready to throw in the towel. Either way - there is renewed interest in getting budgets under control and starting the new year in style. Savvy short sale investors can make a lot of dreams come true if you know how to effectively communicate with potential buyers and sellers.
4. Lower Property Taxes & Insurance Rates. Falling real estate values have led to declining property taxes and insurance rates throughout the nation. Many areas have seen declines of 10 to even 20 percent making the purchase of a property more affordable than ever.
5. No Turkey Here! It's been a good year for short sales. Nationwide, short sales now represent a significant portion of all sales and the predominate portion of sales in some areas. What's more...behind every one of those short sales is a happy, wealthy and wise buyer. Whether flipping for a fast profit or purchasing for personal use, short sale investors have a very real reason to give thanks this holiday season.
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"Disclosure: We are a Compensated Affiliate of HSA"
See you at the top!
Martin Crawford
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