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?
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!!
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!
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............
LIKE NEVER BEFORE............
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