Pre Foreclosure Properties Are Good Investments
March 6th, 2010
In the recessionary period that our country is going through, the number of Pre Foreclosure listings in Phoenix, Arizona that have been filed is more than any number that the real estate market has seen in the past thirty years. For people looking at the Pre Foreclosure listings for investment purposes, the high number of listings is a virtual god send. In many cases, to get Pre Foreclosure information, an investor will need to pay a fee for a specific list of Pre Foreclosure properties in Phoenix, AZ. The fee helps them keep up with the most recent Pre Foreclosure filings. However, there are other avenues for these investors and the home owners that want to sell their homes to these investors.
You may want to consider contacting a real estate agent that deals with short sales. The short sale process during Pre Foreclosure is aimed at getting the current home owner some relief from their mortgage. However, as an investor, the short sale can be a good focus for your investing attention. With banks approving more short sales during the Pre Foreclosure period than ever before, the opportunity to purchase a home during Pre Foreclosure with a short sale has never been better.
With that in mind, contacting a real estate agent that deals in the short sale process could be helping out all parties concerned. The real estate agent has an interested buyer (you), a motivated seller (the home owner) and a lender that is eager to clear the property from their books (the bank).
With the contact of a real estate agent that deals in short sales during the pre foreclosure process, you will not have to worry about how current a list of properties is. The agent will have a list right in front of him.
Bear in mind that a short sale during the Pre Foreclosure period can take a bit longer than other sales transactions. However, the low price that you are getting the property for will be well worth the wait. Furthermore, with the majority of short sale properties, the home is in good condition because it hasn’t been abandoned by a home owner that believes foreclosure is imminent.
The key to the entire investment process when dealing with short sale properties is the real estate agent. He or she will have the negotiating power to deal with the bank and get the sale approved during the Pre Foreclosure period. Without the approval of the bank, your time is being wasted.
Pre Foreclosure investment of homes is a great way to get investment property at a discounted price. Look for a real estate agent that deals in short sales today!
You may also want to visit websites about other counties instead of just your own county. You can find information on county websites that will pertain to foreclosures listings in the area. Typically the assessors office will will post any information way before the other listing services are going to be able to.
It is important to remember that when it comes to searching for these kinds of things, it is going to take some hard work and perseverance on your behalf. The lists can be found by using the above methods. You should always make sure to compare the information on any lists that you have containing the same listing. Should there be any contradicting information, you should make a call to the proper professionals to find out the necessary information.
For more videos on short sales check out Kevin and Fred on the Short Sale Power Hour. Video for Short Sale Specialists.
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Fred Weaver is a founding co-owner of Group 46:10. He has been working in the financing/real estate business for over 7 years. Fred began his real estate career by working for a large wholesale bank as a processor and rate/lock specialist for home mortgages. After 2 years in the business, Fred transferred from the banking side of home loans to the mortgage side. While on the mortgage side of financing, Fred gained experience originating mortgages and processing files for Morgan Capital of Arizona, Inc.
Kevin is a founding co-owner of Group 46:10. He began working in the real estate business in 2007 after spending 8 years working in the finance industry for companies such as Bank One, Green Tree Financial, & GE Capital.