Real Estate Blog

I was reading an article last week in the Denver Post dated August 24th 2009 entitled “Colorado Foreclosures: Wanting a Piece of the Auction.” It dawned on me that this ever-growing sector of the auction industry, real estate, is being gobbled up by huge auction companies because of one reason — tenacity.

Whether you are a veteran in the auction business for decades or just a brand new CAA Member, the down economy can easily be disheartening. It can make you start to feel negative about your business and even your life. Staying wrapped up in the doom and gloom of it all can leave you like a deer in the headlights, not sure where to focus, or even worse, keep you doing the same old thing you have been doing. We have all heard that the definition of insanity is to keep doing the same thing that isn’t working over and over. As they say, when life gives you lemons make lemonade. There are a lot of positives in the auction business due to this economy. However, the fact of the matter is, most of us choose to complain about it rather than make it successful for us. Maybe you are just “getting by” and feel like that is good enough for you considering the shape the world is in. However, history shows us time and time again that there are more opportunities for people to become wealthy when an economy is in decline. Continue reading ‘The Doors We Open and Close Each Day Determine the Lives in Which We Live’ »

There are various ways in which you can offer seller financing. But there is an important fact that you have to keep in mind if you decide to provide fractional or full financing until the buyer pays off the loan to you; you will not receive some or the entire proceeds from the sale of your home. So think long and carefully about it, if you really want to provide this option to your buyer.

If you decide to go through with and offer the buyer financing, here are some key points that will help you and the buyer come to agreement is a easy manner. Continue reading ‘Some Sellers Do Offer Financing’ »

Regardless of your reason for selling real estate notes, it is important to have someone with a reputable and solid background to buy from you. Note buyers are extremely easy to get to contact nowadays. The internet is a haven for buyers and sellers alike. A word of caution though, it is always better to be safe than sorry. Be wary with whom you transact business especially if it involves money.

Before you dive into selling, it is highly recommended that you learn more about it first, lest you get less than what you deserve. To illustrate, many do not know that you can sell only a percentage rather than the entire note. By doing this, you can get a lump sum for a particular number of payments. Suppose you are getting $50,000 in a 10-year period, you can sell a portion like $10,000 worth, and still get the rest of the payments. Continue reading ‘How to Sell Your Real Estate Note’ »

After you have purchased your property and done all the necessary repair the property is now worth full market value and you are ready to sell fast. The first thing to do is place your advertisements in the paper stating that your property is for sale on contract in order to attract perspective buyers. This ad should describe the type of home including bedrooms, bathrooms, and any special features such as newly remodeled or basements. In your ad make sure to mention that all perspective buyers that this is a no bank involved sell and all will be considered including those with bad credit. Mortgage investors will sometimes buy the mortgage from you even if your buyer has a credit score as low as 500.

Your next step is to host an open house for all your perspective buyers. It is way too complicated and time consuming to make appointments with everyone. Just make sure to put the time and address of your open house in your ad and they will show up. During the open house you will be showing the property and running the credit of your perspective buyers to see if they qualify for the mortgage. Continue reading ‘Selling Your Property at Record Speed’ »

Does the front lawn of the house you are trying to sell now look like a good place for a safari? Is there a beehive in your mailbox and are the bees really busy collecting pollen from all the wildflowers on your lawn? Did you just see your real estate agent’s obituary in the newspaper recently? If you are seriously considering any of these questions or if you are looking to know why your house is not selling, there are often simple yet overlooked solutions that can help your house sell.

Have you considered that your home may be over-priced?

In today’s market, you really have to know the real value of the property you are trying to sell so that you do not price yourself out of the market. It is a known fact that buyers, not sellers are the ones who determine market value in the end. However, if your house is selling for $450,000 in a $375,000 neighborhood, you will actually be competing with homes in the range of $500,000, instead of homes that are comparable to yours. If your home stays on the market too long, potential buyers and real estate agents will begin to consider that there is something seriously wrong with your house. Do your homework and establish the market value of the property you are trying to sell so that it does not sit around unsold month after month. Continue reading ‘Please Help Me! My House is Not Selling’ »

In this market, you will realize that selling a home is very hard. You can put your home on the market for a great price and still, you will not make a sale. The only homes that are really selling at this point in time are those that are bank owned (REO), foreclosed upon and in short sale. As we know, the competition related to these properties is immense. Selling a home at what would seem a reasonable market value is unheard of.

If you have a higher end home, you will have a better chance. Even in this market, some higher end homes are still making sales. Although the upper spectrum has got hit fairly hard, they are not suffering like subprime mortgages and properties are. If you do have a higher end home and are selling it in this market, you will know that you are definitely not getting the full potential in value of the home. In some cases, this is perfectly OK with the seller. Circumstances that would lead to a sale with little or no profit would be those that are trying to get out of the financial burden, those who are defaulting on their loan and those that need to move and relocate for a job, etc. Continue reading ‘Why You Should Hold Off on Selling Your Home If Possible’ »