As the previous agent pointed out...getting the equity information is the biggest challenge, and time intensive. Your best bet is to work with an agent directly to hunt for properties that meet your specific investment needs.
Agents who list rehab properties (like myself) will likely have the greatest knowledge in regards to the foreclosure market.... more
I have prepared a CMA for you to look at for those two zip codes. Over the last 12 months 6 multifamily units have sold and currently 4 are available 1 just went under contract. The units sold avg 74 days on the market. If you're still looking for answers send me an e-mail with your first and last name with multifamily 78217 on the subject line and I will forward the CMA.... more
I've been a Realtor for 8 years, went to Thousand Oaks Elementary School, and own a house off Brook Hollow and Jones Maltsberger. Give me a call at 210-789-3864 and we'll chat about your wants and needs and how I can help you attain them. Thanks!... more
The eager beavers who first answered this seem to have overlooked your mention that you just entered into a lease. If you want to buy, talk to a lender first to see where your finances stand. If it looks good, then talk to your landlord (property manager) to see what kind of arrangement you can make to get released from the lease.... more
HI Joann, I work and live in this area- actually I am in 78216, but just across 281 in the Bitters Blanco area, so I was very interested in your question. The other responses are correct - Texas is a non-disclosure state, so I was pleasantly surprised to see what a cool site Cyberhomes has to offer. I did a test using my own house and one that I closed on Monday on Brook hollow in 78232, just to see what they came up with since I could not find the source for their data. They gave themselves an enormous range of almost $40,000 on the two houses that I pulled. That is a lot for the one on Brook hollow, which sold for less than $200,000 - almost 1/5 of the cost of the home. The actual sales price was close to the bottom of their range. I know that in my community they are probably pretty close in price, if the house has had no upgrades and is dated, etc. but how are you going to know that from a website? And there's that thing with a $40,000 range. My house would sell close to the top price, or I wouldn't sell it at all. Bottom line - websites are great place to do your research and get a ball park idea of what is going on in an area, but if you are a buyer, it should not cost you a dime to have representation, and let someone who sells houses full time, on regular basis help you through this process. We sell and have sold lots of houses every year for the last 19 or 20 years in this area. Believe it or not, we really do like to help! In San Antonio, the primary source of the data for appraisers, and even for the tax appraiser is the San Antonio Board of Realtors multiple listing service. For the most accurate up to date information, Call a realtor.
Everyone has given you good advice.
Here are some extra pointers though...
1. Consider what your reason for purchasing a REO or SS home is? Sometimes better deals can be found by motivated sellers!!
2. Interview a few agents, and find one that you know will look out for your best interest. If their only concern is if you are pre-approved for a loan, be concerned!!
3. How much down... It will mainly depend on your method of financing.
I'm sorry that you've had to cancel all of your plans because your agent was unable to sell your home. The one BIG thing that most agents can't comprehend or refuse to relate to you is the pricing trend and timing analysis. I noticed that is the most important reason why you were unable to move on with your plans as I've researched your home. I would be more than happy to show you those two tools we use and get you back on track with your life!