Home Selling in 19401>Question Details

Lauren, Other/Just Looking in Philadelphia, PA

Hello. I know that we''re in a recession and the market is bad. That said, I have recently realized that real

Asked by Lauren, Philadelphia, PA Fri Apr 10, 2009

estate is where I want to be. I am trying to break into the business by starting small and wholesaling "ugly" houses. I currently have 2 houses under contract offered significantly under market value. The contracts are about to expire and I cannot find a legitimate buyer. I have a some interest but nothing has panned out thus far. I am frustrated and looking for any advice anyone can offer. Again, I'm new to this so please be gentle. Thanks!

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Hi Lauren,
It's great to hear that you are embracing the real estate market regardless of all the negative news. There are good buyers out there and you just have to cast your net and get them to see your listings, there great ways of doing that, but first identify yourself in Trulia as a Pro, if you are licensed that is! blog, advertise, ask your mortgage guy for a financing plan for each property and make sure it's available to the buyers when you take them out, interview the buyer before showing them the house , and consult with your mentor, do you have one?. Which company are you with? Email me if you need help. I was rooky of the year my first year!
Best of luck to you.
2 votes Thank Flag Link Sat Apr 11, 2009
You might find two books of help.
FLIP by Rick Villani, Clay Davis, Gary Keller
The Millionaire Real Estate Investor Jay Papasan, Dave Jenks, Gary Keller

Both have helpful hints for investors and would-be investors.
There also might be an investors club in your area. Google it and see. If not, then you should start one. They get together monthly and talk about what they are doing.
1 vote Thank Flag Link Sat Apr 11, 2009
Keith Sorem, Real Estate Pro in Glendale, CA
Hi Lauren! Congratson entering the real estate market. There is definitely money to be made in flipping houses (which is what it sounds like you're starting to do) but, as you have already seen, it takes work. The keys to moving homes - in ANY market -- are pricing and marketing. So as you are finding that your homes aren't selling, consider where the homes are in terms of price (from your question, it sounds as if you have listed your homes with a Realtor.....which I hope you've done......and, if that's the case, your Realtor should have spent time with you reviewing comparable properties in the area, etc.).

In addition, re-assess where you're marketing the property. An online presence is critical to finding a buyer these days. What websites are your listings on? Again, your Realtor should be able to guide you here and offer advice that will assist you in selling your homes.

To the extent that your homes are NOT currently under a listing agreement with a Realtor, I would HIGHLY suggest that you hire a Realtor ASAP. The advice s/he will offer will be invaluable to you, ideally leading to a quicker sale at a great price.

Please feel free to give me a call direct at (610) 324-5240 if you don't yet have a Realtor to assist you. It would be my pleasure to assist you in any way that I can. (You can learn more about me and my services at my website at http://www.JudysFineHomes.com as well as request one or more of the FREE Special Reports for Buyers & Sellers that I've put together.)

Good luck!


Judy May, Esquire, REALTOR
"A Refreshingly Different Real Estate Experience"
C: 610.324.5240

CENTURY 21 Alliance
2828 Audubon Village Drive
Audubon PA 19403
O: 610.666.0202 x. 226

Search THOUSANDS of homes!
1 vote Thank Flag Link Fri Apr 10, 2009
Lauren - I am also confused by your post - your ID tag identifies you as a Buyer and Seller, but you're talking about this as being your business. Are you an investor or a real estate agent? It's truly unclear, and no matter what the answer, you need to identify yourself properly.... ESPECIALLY if you're an agent. Then, you need to get your lingo right... a contract typically doesn't expire - unless you're talking about the option in a contract - and that's a whole other ball game... or maybe you're talking about a listing agreement? Who knows, but if this is your business, start with clear communication. If you're an agent, get with your broker. If you're an investor, get with your agent - if you don't have one, you need one.
1 vote Thank Flag Link Fri Apr 10, 2009
Lauren, are you a real estate agent? If so, don't forgot to identify yourself as one in your bio!
1 vote Thank Flag Link Fri Apr 10, 2009
Or just post some info here and I can give feedback. Im not trying to get any business, just help ya out. So if you would rather not share your email that is fine.

Web Reference: http://www.SeanDawes.com
1 vote Thank Flag Link Fri Apr 10, 2009
Good Afternoon Lauren! Yes Real Estate is a great place to be...the market is slowly turning and homes are selling more quickly. Many buyers have entered into the market due to great interest rates and the tax credit. It is important to be aggressive in this type of market through pricing and advertising. I would love to speak with you regarding your situation and will be happy to answer any questions you have.

Jennifer Daywalt, Realtor
Re/Max Results Realty
Top Realtor 2004, 2005, 2006, 2007, 2008
Serving Montgomery, Chester, Delaware and Berks Counties
610-999-7693 Direct
610-489-7355 Main
1 vote Thank Flag Link Fri Apr 10, 2009
Please call my cell phone to better advice you. (609) 317-0483
1 vote Thank Flag Link Fri Apr 10, 2009
If you want, email me at sean.dawes@longandfoster.com and give me the breakdowns

I have investors willing to buy from small homes up to $30mil apartment buildings and hirer.

The deal might not be as good as you think if you can't move it. I will look it over for you.

-Sean Dawes
Web Reference: http://www.SeanDawes.com
1 vote Thank Flag Link Fri Apr 10, 2009
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