Robert McArtor's Discussions

This is why the first properties being shown and receiving contracts are REO (Real Estate Owned) Properties and Owners attempting to convince their lender to take a Short Sale. I purchased my primary residence last year from the Bank. Since then, two houses have come on the market in my neighborhood. One is listed 125,000 and the other 150,000 MORE than what I paid for mine. I always get the question...was it a good time to buy?...It was for me and my family. Everyone needs a place to live....period. If you are looking to buy a home, you simply have to be smart about where and what you are buying. Shop around, ask questions, look at the market trends in that particular area, subdivision, etc. When you are looking for buy a Bank Owned property, work with an agent that is experienced in this type of transaction. I was able to negotiate ALL closing costs to be paid on top of a huge price reduction. If you want to stare at the Foxbusiness reports all day and wait for the up-turn....you will miss this opportunity. Your thoughts?

?? - No fear tactics here Bette, just simply working hard for my clients and customers, providing the best possible service using the knowledge of today's marketplace. As a REALTOR, I have the stats to back up the information I provide to my Sellers and Buyers. If my information tells me that the trend is towards REO properties that are 20 to 50% of the current FMV in the area of town they are looking to buy in, that is what I share with my buyers. I am still looking for the thread that says, "Buy now or be priced out forever..". Very tacky. Their are benefits of buying and selling regardless of the trend in the market. Different strategies are used to make it the best possible deal for a Buyer and to obtain the greatest out-come possible for a Seller. We handle the transactions, we don't set the trends, the market does that. 

Pamela Mones stated...."you may find yourself waiting too long and see yourself in the rearview mirror wondering how you missed the deal."She could not be more correct!Within the past 180 days, 33 REO Properties have SOLD and currently 13 are under contract. Buyers are looking for deals....period.I think Orison Swett Marden said it well...."Don't wait for extraordinary opportunities. Seize common occasions and make them great. Weak men wait for opportunities; strong men make them." 

I would speak to an Attorney about your specific situation.