REOs, Short Sales, or Regular Sales?
I met a lady today at the Tanforan Mall. She says, “My husband wants to buy a house but only if it’s REO.” I asked why, she says because he believes he gets a great deal and that he can also bargain and offer less if it’s foreclosed. He believes that short sales and regular sales are not good real estate investments. She said that her husband doesn’t want to look at anything but foreclosed properties.
Is this how the public thinks? But, how about short sales? And what about those regular sales? As one of my colleagues says, “Regular sales, are really the short sales these days!” Isn’t that the fact? What, in your opinion, is a regular sale in today’s real estate market?
Shokoofeh Nowbakht
www.shokoo.com
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Shokoofeh,
Many of these are people that attend these “free” seminars where they preach such subjects.
When one of those have been in town, we as local Realtors know it!
Brian Boisson
Great question. Whenever someone asks if I have foreclosure listings, I ask and find out that it’s always this perception of a “great deal.” But I’ve seen many cases where a bank-owned property sold for right around market value or even more, b/c of multiple offer situations.
As for a “regular sale” – is there ever really a regular sale when it comes to real estate?…