Right Time to Buy?

It seems like a lot of potential buyers may be waiting…for the market to change. They think that apartments are still priced too high; and they are, in many cases. Many single-family homes are also a bit pricey and have been on the market for excessive periods of time. Many people who would like to sell will not put their properties on the market, because of the existing climate. They will wait until they can get a better price.

But is the picture all that bad? I don’t think so. There are motivated sellers out there. Many people who have their properties on the market, are selling for a reason. They are motivated! The motivate sellars are not very hard to find, either.

And what about the foreclosure market? It wasn’t very long ago that you couldn’t buy a single-family home and rent it out for enough money to cover your mortgage payment. But with the current glut of foreclosure homes, all that has changed. The foreclosure inventory seems to be building, creating opportunities for ordinary people to become landlords. Now is the time to buy low, rent and hold. When the market improves you can continue to rent or sell for a tidy profit.

Interest rates are quite low. Rates are still relatively low for borrowers and investors with strong credit scores. They are expected to trend back up in the future so now is a good time to buy and lock in those low rates.

Don’t miss out on the opportunity of a lifetime!

Why Buy Foreclosures?

"With interest rates at record lows and the stock market looking too perilous for
small investors, many people are putting money in an asset they understand --real estate.

One of the best places to invest is in foreclosures and bargain residential real estate.

You can buy foreclosures for as cheap as 30% or 40% below market, but most foreclosures sell for 5% below market," said John T. Reed, editor of Real Estate Investor's Monthly, a newsletter based in Alamo, Calif." From and article entitled The Safest Way To Buy Foreclosures by Bankrate.com .

Actually, we are seeing foreclosure properties selling 30% to 40% below market value, in Lake County, all the time.

Foreclosures represent one of the best investment opportunities available today! Once you make a purchase you can either rent it or flip it. If you hold it and rent it for now and sell it after the market turns around you can imagine what your profits might look like!

Generally renters prefer single family homes and they will usually pay water, sewer, all other utilities, take care of normal maintenance, lawn care, snow shoveling, etc.

How can we help?

We can help you find foreclosures...

The MLS does not have a listing category for foreclosures so we search the MLS with key words, looking foreclosure properties. Key words like, bank owned, corporate owned, no disclosures, foreclosure, auction, short sale, allow time, addendums required, etc. This catches most of the foreclosure, preforeclosure and short sale listings.

We will show you the properties you would like to see.

We will help you negotiate the best price.

We can help you through the purchase process.

We are experienced in all these areas. Please let us know how we can help.

1124 Leith Avenue, Waukegan

This 4-bedroom, 1 bath, Cape Cod was recently purchased for $98,512. It has central air, a 2 car garage and a fenced back yard that backs up to a school. Built in 1954.

The buyer put $5,800 into the property in repairs and improvements and has it rented for $1,200 per month!!!

My client was very concerned about having a dry basement. He called me a couple times when it rained and asked if we could make a quick basement check. Which we did, and found the basement to be dry each time.