Don't Get Fooled By a Short Sale!

Buyers are wanting bargains and are even limiting their search to REO's and short sale listings. BUT....as a consumer and purchaser it is extremely important to hire an agent who can analyze and interpret the listing price on these properties. Just because they are bank owned or short does not make them a good deal!!

Yes there is absolutely the opportunity to buy a home or condo at a great price. The pricing on these homes, however, seems to be dependent partially on the prior transfer and the existing loan situation. If the prior owner way overpaid for the property to begin with, then the current price could also be suspect. Especially if it is a short sale. Also, even though it is not right to do so, there are homes being listed for ridiculously low prices that the bank will not accept. This is done just to entice an offer and get a purchaser mentally committed to wanting that particular property.

Please be sure that when you are purchasing a bank owned or short sale property, you are dealing with a reputable agent and one that can analyze and produce a current market analysis. Also, be open minded about the fact that there are job transfers, retirements, downsizing, and other factors forcing home sales. These homes can also be offered at great prices and the sellers are knowledgeable about the history of the home and can produce reliable disclosures, they often might agree to do repair work or lower their price if the inspection produces a health or safety concern, and they are also motivated to sell! Some of the best deals in the market today are not bank owned or short sale!!

Choose an agent with over 35 years in real estate. One with appraisal and sales background! For more information on Ventura County real estate and homes for sale check out my website at:

http://www.Venturahomesforsale.org

For foreclosure and bank owned property searches visit:

http://www.JanisCalkins.com