Wow! August has been a month to learn a whole new side of the business!
Listing and Selling Bank Foreclosures in Las Vegas! There are some great values here, in the Las Vegas Valley.
Let me share the experience I have had so far:
1. The houses are empty when we get them. Some were owner occupied and some were rental properties.
2. In all cases they need a good overall cleaning and the carpet needs cleaning. There are some that need more work and repair, but we price them low taking the work that has to be done into account. That way, the new owners can do what they want.
3.Some have all of the appliances and some have been stripped.
4.We facilitate the repairs and clean-up the homes. The bank makes sure the utilities stay on and pay the repair and cleaning bills to our vendors. This allows us to stay focused on the listing marketing and selling the properties.
5. The pricing strategy has been to drop the asking price to about 60% to 75% of comparable sales in the area over the past 90 days. When we post the listing, we blast an e-mail, hit the phones and have multiple offers, bidding upwards, within just a few days.
6.The total bidding is complete and we know who the buyer is withing just a few days. The final selling prices are AWESOME!
This strategy seems to be working! Out of the 7 test listings we put up starting on August 19th, 1 has closed, 4 are in escrow for quick closures and we are still collecting multiple offers on 1. The 7th one just went on the market yesterday.
Now that the testing phase is over, we will be ramping up more homes in a serious way over the next two weeks. As we add properties I'm sending out updates as to what's going on the market each time a listing comes up. If you want to be added to that list, just let me know.
The last thing that Flagstar Bank, the owner of these properties, is offering 4.99% money to buyers that have a credit score of 660 or higher. Flagstar Bank and I have been doing business for 4 years and have been great to work with.
Contact me for more information on these and other GREAT BUYS!
7363 Ristoro Street, Las Vegas, 89148
7560 Village Mist Lane, Las Vegas 89113
5021 Meadows Lilly Ave, Las Vegas, 89108
8390 Hollywood Hills Ave.Las Vegas, 89178
If I can help, please let me know.
Have a good week!
Best Regards,
Mary Kennedy
RE/MAX Central
www.MaryKennedyLasVegas.com
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