In August, the number of new foreclosures listed nationally barely crept upward -- even as average sale prices leapt dramatically. Realtytrac compiles the numbers, and they show a sizeable 10%+ jump in foreclosure sales prices from July to August. Of course, homes listed as foreclosures and short sales still close at prices markedly lower than homes sold in traditional transactions, but that rise in price seems to say that more buyers are feeling confident that a home purchased now will look like a wise move in the future.
If you have been looking at the distressed property market in Parker, these numbers suggest that the short sale and foreclosure possibilities are still being created -- and that the value they represent is getting a boost of market verification. But before anyone rushes out to take advantage of that market, it’s a good idea to consider enlisting the help of a buyer’s agent. It’s no exaggeration to say that a great buyer’s agent can help make or break a short sale.
Helping you find a price that works is one of the most valuable services a buyer’s agent will supply. Banks will turn down a short sale if they determine it is possible to sell a home at a price closer to its market value. Nobody wants to overpay -- but you won’t get a house by overplaying your hand, either. A knowledgeableParkerbuyer’s agent with a local market track record can be invaluable when it comes to determining how the price you are contemplating is likely to be received at the bank.
As Realtytrac’s report suggest, it’s a fast-moving market. Anyone who has fallen in love with a house only to learn that theirs was the least attractive offer knows the sting of underestimating the market. An experienced buyer’s agent can help you determine if it is likely that there are multiple offers on a home -- and whether a bidding war is likely to ensue. If you want that house, a savvy buyer’s agent can be your secret weapon.
In the larger picture, stepping back from the sometimes emotional side of the process, a well-versedParkerbuyer’s agent can help you determine if a home offered as a short sale is a good buy overall. Even when a home is priced well below market value, some wind up needing costly repairs that consume the cash saved on the purchase price. You need to compare apples to apples -- a great buyer’s agent can help you compare the potential real cost of buying a home that initially might have appeared to be available at an irresistible discount.
If you are curious about Parker homes in the short sale and foreclosure markets, I am standing by to put my experience to work for you. Supplying the knowledge that helps make excellent long-term decisions -- then applying strategies that put them into action – are the ways I’ve built a reputation for hard work and solid results. Call me anytime!
Author:Jason Peck Phone: 720-446-6301 Dated: September 26th 2012 Views: 793 About Jason: ...
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"We worked with Karen Venier for a relatively short time for a good reason: our home sold at full price within hours of hitting the market! While it’s true that the Denver housing market is “hot,” credit for the speed and ease of our transaction belongs to Karen. She was great to work with, giving us perfect advice about readying our home for sale and then expertly guiding us from offer to close. Along the way, we came to appreciate Karen for her skillful blend of professionalism and personal touches – like dropping off our favorite beverages during a particularly stressful time in our move or shoveling our driveway in subzero temps after we’d left the state (way beyond the call of duty!). Now that we’ve relocated to Wisconsin, we keep saying that we wish Karen could be our buyer’s agent here. Since that’s not possible, we’ll shout her name loudly to whoever might be looking for a home in the Denver area.
Thanks for the great work, Karen!