Seattle Area Homes 4 Bail
By vine | August 30th, 2010The market, as you may know is looking horrible
Well, as a licensed Washington Short Sale expert, I’ll be the first to say that while the market is looking to get worse for sellers, for buyers, the market is turning into a goldmine.
In 2007-2008, ARMS (adjustable rate mortgages) began adjusting, placing homeowners in distress and thus driving prices lower and lower due to distressed sales (short sales, REO’s & foreclosures.) Obviously this damaged the housing market, including Seattle Area Homes.
Lots of experts wishfully think that Seattle is the one area that won’t be affected . I..don’t think so. Seattle’s going to experience it’s share in the bitterness. You know why? ARMS are going to be adjusting again in 2011-2013 and more homes will be going into foreclosure because of it.
It’s happening again, but what will you be doing about it?
Well for one, don’t sit around. Lots of home buyers and buyers agents tend to look on popular websites like Redfin or the NWMLS (Northwest Multiple Listing Service) for deals. While that’s a necessary first step, the key to mining a deal is to target properties that will actually lead to a discounted purchase.
So how do you actually get yourself a discounted purchase?
The solution is to make sure that the house you are purchasing isn’t based on an inflated value, but that your discount is based on true market value. So who inflates value? Banks, their realtors, loan officers & sometimes even your very own realtor (for the purpose of getting the deal done).
You see, the only one that makes money from the property until AFTER the sale is you. Everyone else gets paid upon closing. So you are
For more information on buying properties, visit Seattle Short Sale Blog Dot Com
Kevin