Back to Real Estate

Strategy For Riding This Market To The Bottom

Beach Lover
4,733 views
Most people probably would not recommend I share the best strategy imaginable for this market. There are tons of short sales hitting the market every day and they take 60-90 days to close. The short sale addendum allows the buyer to back out at any time prior to the bank accepting the write-off. So.... go out there get the best short sale you can find. Keep looking for the next 60-90 days and if you find a better deal, cancel the first one and go after the next one. These prices are falling on a monthly basis here and when they stop falling you'll be left with a heck of a deal. If you benefit from my approach, just send a $10 check to the American Cancer Society as appreciation.:wave:

Replies

31
Babyblue avatar
Beach Fanatic
#27
Lynnie, let's start a bank. It will be a money maker, It is a sure bet!

Edited

Lynnie avatar
SoWal Insider
#28
Lynnie, let's start a bank. It will be a money maker, It is a sure bet!


I'm all in!! :D Ready whenever you are......I know a couple of others interested, too!

Cheers~~~~
scooterbug44 avatar
SoWal Expert
#29
- When you put an offer on a short sale - for all intents and purposes - the seller can no longer market the property. It is not the seller's fault that lenders are slow to act AND the foreclosure clock is still ticking for these folks. If you're not serious about buying then you're just ****ing with people at a point in their life when they really don't need that.

Really sums it up for me - those karma points are a biatch! :wave:
Miss Kitty avatar
Meow
#30
Thanks Lynnie and Babyblue! Y'all jsut helped me understand more about these TARP $$ and what the banks would naturally do! No Brainer, indeed!

Tell me when you open your bank...I am in! :wave:
Lynnie avatar
SoWal Insider
#31
Kitten, why don't you come join!

BKL Bank, N.A.
TheSheep avatar
Beach Fanatic
#32
What exactly does a Realtor representing a Buyer do after presentation of the Offer to the Seller's Agent?

Inhale.

Checking your forum account

Please wait while we verify your forum account.