When the banks are TIGHT the time is RIGHT

If you've been watching the news you've seen the constant flow of bank trouble. Banks shutting down, being "taken over" by the Gov, shutting down mortgage divisions, getting audited, the list goes on and on.

What does this mean for the savvy investor?

When banks deplete, you win. No, no, no, this isn't a Lending Tree commercial. I said DEPLETE, not COMPETE!! If you know anyone trying to buy in this market you've heard the horror stories about obtaining financing. Banks are as tight as tight gets right now. They want ZERO risk and have pulled the purse strings so tight that no one can get a dime without a 1400 credit score (don't email, I know it's a fictitious number)....

Ok, so how does this help you?

BY LOWERING FAIR MARKET VALUE!!!

It seems stupid, I know. The market is a mess, foreclosures are EVERYWHERE, NO ONE can sell, and now?............ NO ONE CAN BUY!!!!

People can't get loans to close on anything, that in turn brings less buyers to the table in a market where inventory levels are at their highest! This in turn lowers fair market value of just about any area you are interested in. If seller Smith can't find a buyer, has a load of competition that won't go away because banks won't fund, Smith will take what Smith can get!!

Who's Smith, how do I find him?

That's the rub, but that's also where I come in. Smith is out there, but it takes time and patience to locate him in a market full of FSBO's, Short Sales, Foreclosures, Listed Property, REO's, etc. You need to do your homework, talk to EVERYONE, and not be afraid to low ball any thing you have interest in. If you have the financing, if you have the cash.....

CASH IS KING?
YOU ARE KING!

If you have funds, the time is right!! Forget the stock market, forget mutual funds and CD's and Commodities .................. It's time to deal in the #1 proven ROI - REAL ESTATE!!

THE TIME IS RIGHT!!!
LIKE NEVER BEFORE............

Florida Short Sales - Don't lose them, USE THEM!!!

Ok, you're on the short sale kick... ya gotta have one, right? I get it!!

What a deal!!
Oh my god, they're so cheap!!
Why buy a "regular" home when I can buy a short sale?
I only want to look at short sales...

The problem?

YOU CAN'T CLOSE ON THEM!!!

Short sales are having an atrocious effect on our Real Estate market. Listing agents are pricing these homes at ridiculous levels with the hopes that the bank will accept..... and what happens?

THE BANK DENIES!!!

This is what I just can not wrap my head around. Why would an agent, trying to sell a home, trying to put money in their own pocket list a house/condo/townhouse at a level that will be unacceptable to third party approval? It does nothing but waste everyone's time, never mind the agents money to advertise the property.

WHAT CAN WE DO ABOUT IT?

Stop searching only short sale homes!!
Use their low list price to negotiate a "standard" home listing!!

Doesn't it make sense? The name of the game in Real Estate is and always will be negotiation. I don't care if you are buying a home as a first time homebuyer, a second vacation home, a condo for your college student child, or strictly for investment purposes. IT IS AN INVESTMENT!!

As an investment you want to pay the lowest price possible, right?
Right.
There are an awful lot of homes for sale, right?
Right.
Most of those homes are short sales, right?
Right.

Look at the market in a different light, instead of trying to scoop up all the great short sale deals (which will never close due to third party approval), go straight to the "standard" homeowner and use the short sale listings as comparable properties when making an offer. The "standard" home seller decides him or her self what they will accept, not the bank!!

Listen, short sales are "in vogue" they are "sheik" they are the new foreclosures like brown is the new black, I get it, but like most of the latest styles, you can't get your hands on them without the right contacts. So......

DON'T LOSE THEM......
USE THEM!!!