Gwinnett County Home Bargains
December 16th, 2008 Categories: Chateau Elan, Dacula, Hamilton Mill
Did you know that some of the best deals in Gwinnett County and our surrounding areas are not bank owned foreclosures? Sure, there are a number of current inventory homes that are priced to sell but not every foreclosure is a deal. I can tell you that we just put a foreclosure under contract that is a new home and it should/could have sold a year ago for close to $300K and we got it for under $200,000. This is a great deal and if you want to know where it is located let me know. There are a couple more homes in this subdivision and the bank is willing to deal.
Over the past year or so more and more buyers are regularly calling me and asking where all the bargains are in foreclosed and or short sale homes in Gwinnett and surrounding counties. Well, the simple answer to that question is to start getting an email list of homes that I can provide that shows what homes are currently bank owned and ready for a great bargain if you know what to do and how to get the best deal.
How do you do that you might ask? Get a qualified agent to represent you in the transaction. If not me, fine, get someone else, but do not try to get into a dual agency situation on bank owned homes. This is not a time to try and go it alone. Honestly, if you do not feel I am the right person, no problem, I will be happy to refer you to any number of fellow real estate agents out there that are ready, willing and able to assist you.
Also, what I need to stress is that not all the best DEALS are foreclosed homes. There are a number of sellers that “get it” and have priced their homes to sell at extremely competitive prices and are willing to work with Buyers to make the numbers work. I need to stress this again, not all the best deals are in foreclosure!
If Sellers are working with a qualified agent that know what they are doing they will not overprice homes. Once a home is overpriced the likelyhood of it selling in a timely manner is next to zero. I see so many homes that are for sale that are unrealistically priced for TODAY’s market that will be current inventory for months to come and it is a shame. What this tells me is that either the owner has unrealistic expectations of the current market or his or her agent is not strong enough in their skills to let them know that the home is above market and will not sell. Heck, even if it does get an offer that is acceptable to the Seller the home still needs to appraise for the sales price. I have seen numerous deals fall through due to appraisal issues in the past year.
So here is my thoughts:
1. There are great non-foreclosure deals out there if you know where to look.
2. Not all foreclosures are “instant equity”
3. Find a agent to help you. If not me, let me refer you to someone.
4. Price your home right the first time.
5. See #1
Make it a great day.
Can provide you contact information? My wife and I are interested in trying to use the current market to upgrade our home.
Thanks,
Thornton