Foreclosures & Short Sales 6/8

Hello Everyone! This week I would like to share some statistics with you that were reported by Phil Mintz in a 6/2 article in Business Week. ->

Pending home sales activity was greatest in the Northeast, where the index increased 32.6%, to 78.9, in April, 0.8% above a year ago. The only region that showed a decrease was the South, where the index declined 0.2%, to 93.0, 3.5% higher than a year ago.

Cranbury

East Brunswick

Edison

Fords

Iselin

Metuchen

Middletown

Monroe

New Brunswick

Perth Amboy

Piscataway

Spotswood

Woodbridge

CONDOS

MULTI FAMILY

June 08, 2009
The Best Deals Aren't Always Bank Owned
No matter the price range, I've never worked with a buyer who wanted to pay more than a house was worth. On the flip side, especially these days, the vast majority of buyers I work with want a deal. After all, with a drop in value, low mortgage rates, and the tax credit, its a great time to buy. So, how do you find those deals?
Don't Always Bet on the Bank-Owned
Many people believe that bank-owned are the best deals, but this isn't always the case. Many times, it depends on bank expectations, the property condition, and what the house is really worth. If a bank could get $300,000 for a house, why would they sell it for $200,000? Yes, there's some motivation on the part of banks to sell quickly, but it doesn't always mean great pricing.
So, How do I Find These Deals???
To find a deal, you need to find a seller with motivation to sell quickly. For example, job relocation, bankruptcy, marriage, divorce, death in the family, etc. If people NEED to sell, that's where you'll get your best deals.
Where Do I Start?
Best thing to do is to setup a Buyer's Consultation with a Realtor who knows how to recognize seller motivation and can hunt down these homes for you. A full-time Realtor who knows their market and takes the time to meet with you will be your best asset in achieving your goals.
If you'd like help finding these deals or would like more information, feel free to email me at cooper@zastko.com or call me direct at 609-865-5877.

This Week's Foreclosures & Short Sales

There seems to be a good number of Foreclosures & Short Sales on the market this week. You can view them by clicking here.



Deal of the Week

While not a Foreclosure, this East Brunswick home is an Estate sale that is priced right and ready to move. After all, not all the best deals are Bank owned!
Offered at $244,900
If you're interested in this or any other home, please contact me at cooper@zastko.com or call me direct at 609-865-5877.



Cooper FordRealtor Associate732-297-0600Email MeVisit My Website
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