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54495 : Real Estate Advice

  • All3
  • Local Info1
  • Home Buying1
  • Home Selling1
  • Market Conditions0

Activity 3
Wed Oct 20, 2010
Terry Hunter answered:
They worst decision you could make is to buy if you may be forced to sell back into this market. The transaction costs are high, and this would likely cost you serious money. So, if your finances are "iffy", then buying is not a good option.
Foreclosures are not automatically a good buy. Banks have appraisals or broker price opinions, and they try hard to get the market value indicated by these "appraisals".
Sometimes, non-foreclosures (or perhaps "not-yet foreclosures") can yield a good buy. With foreclosures, well-priced homes can go quickly because the whole buying community knows about them, and most of the interested buyers will NOT get it (only one will, after all). With non-foreclosures, a persistent broker may be able to get a response from a seller that provides YOU, and only you, with a great deal, with no other buyer competition.
But, in the end, you need the financial strength to NOT be forced to sell until you want to.
If you might be foced to resell shortly after buying, then you should pass, and not buy.
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0 votes 6 answers Share Flag
Tue Dec 22, 2009
Tommie Mann answered:
If you are still interested in this information, I will be glad to provide you the data. The average price home in the WR area from Jan.1-Dec 22, 2009 was $104,767 and the average Days on Market was 181.

There were 7 homes sold in the $225-$239,000 price range. The most successful price range sold was $210-$214,999 with average DOM of 78 days.

Feel free to contact me for active listing information or any other data you may need.

Tommie Mann, Coldwell Banker-Siewert, Realtors
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0 votes 1 answer Share Flag
Fri Feb 13, 2009
Dana Schuster answered:
Thumbs up from me,Linda! i like your answer.
0 votes 3 answers Share Flag
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