Our market has many distressed properties (bank owned and short sale homes), selling for prices that were unimaginable several years ago. The caveat is buying a distressed property can require a lot of patience. It can involve a lot of uncertainty. It can mean buying a home that is in need of many repairs.
Finding Motivated Sellers
Some home buyers don't have the stomach for buying a distressed property. The good news is there are motivated sellers out there right now with great homes priced at unbelievable values. These home sellers aren't facing a short sale or foreclosure. Instead they are facing the realities of the market, and they are making the conscious decision to price their homes to sell fast.
This is one great reason to work with an experienced, full service buyer agent. She can help you locate the (distressed and non-distressed) properties that suit your needs, and she can help you understand their true market value. Then she can help you act quickly when you find the perfect home at the perfect price.
This information is provided courtesy of Dan Miller, Shawn Kriewaldt, Chris Venden, Dasha Shy, and Jodi Shehadi of Keller Williams Realty and DaneCountyMarket.com. For more information, please contact:
Don't forget: if you're buying or selling, whether your timeline is 3 months or 3 years, we can help.