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Bank-Owned Home Negotiating Takes Experience, Patience

by Randy Gridley

Bank-Owned Home Negotiating Takes Experience, Patience

RealtyTrac foreclosure roundup showed that for the first time in a long time foreclosure activity throughout the nation was on the increase. That is due largely  to an 11% month-over-month increase in bank repossessions (REOs), U.S. foreclosure starts increased 4% from the previous month.

Daren Blomquist, the vice president for RealtyTrac, pointed out the state of the market. “While distressed properties —bank-owned, pre-foreclosure or even short sales not in foreclosure — are still selling at a significant discount compared to non-distressed properties, average distressed property prices are increasing in many markets thanks to a strong demand and limited inventory.” 

Knowledge is Power! It is important that you can rely on a professional with a history of successful negotiations.  Make sure you always team with an experienced real estate agent.  It takes skill in dealing with the bank. The guidance you get can make all the difference when it comes to writing a winning proposal.

Make sure to consider properties that have been slow to move.  Some of the ripest targets can be Boise properties with a history of failing to sell.  Don’t worry about the Boise properties that are flying off of the market.  Don’t sell the homes that are in need of repair short.  It is possible to still save lots of money after the adjustment for refurbishing and maintenance.

You can still find yourself being outbid on a bank-owned property even if you find a bank-owned home with lots of potential.   You have to be in the right frame of mind to get the best out of a Boise bank-owned home property.  Don’t plan on playing hardball with the bank or think you are going to take your own sweet time!

If you are looking for a bank-owned home in Boise – or even if you are just looking for a great property – I am here to help all of my buyers get the best deal possible!

A few boise-meridian-bankowned homes in Boise, Idaho that are active and updated Monday through Friday except holidays provided by IDX/IMLS:

Selling Your Home | Headlines Make Headway | Boise Idaho

by Randy Gridley

 

Selling Your Home? Headlines Make Headway!

 

Are you thinking of selling your home in Boise this summer?  I am sure you have already thought of the many ideas that will make your property stand out from other properties.  The many ideas might just include, how to stage my home or even should I repaint different rooms in my home.  Should I upgrade all my appliances or should I leave everything just the way it is now?

I am here to offer you advice on all the upgrades you are thinking about doing to your Boise valley property.  Which ones will improve the value and even those that you are thinking about doing that will not give you value that you are looking for.  You are looking for the overall results and it is those things that I can help you with.  I can also help with the marketing strategies and advertising.

Next to the photographs of your home, the headline is everything according to Karen Hutton a specialist in real estate conversion content.  Karen is from Queensland Australia, that shows how universal marketing truths tend to be.  The headline tactic should arouse curiosity, use meaningful specifics and also must be intriguing.

 

Some of my favorites noted on her marketing website?

  • Keep Your Cool: Coffee Just Around The Corner

I’m not sure what this means — it’s why I’d have to read the ad!

  • Designer Retreat In The Heart Of Town

          A perfect marriage of two sales points in just seven words

  • Go Slow: A Home For Relaxing and Entertaining

         A lifestyle pitch that sounds entirely credible

  • An Urban Getaway To Complement Nature

         Instant appeal to city-dwellers who wish they could live in the country

  • Good Bones: Ready For Your Inner Designer

         Clever way to avoid the negative sound of ‘fixer-upper’ 

 

If you are thinking of selling your home in Boise this summer, I have many more sources for creating standout marketing designed to get your home S-O-L-D. Do not delay! Contact me today to schedule a strategy session designed just for you.  There is no obligation, and all the different ideas that we discuss can make all the difference in approaching the many options that are immediately available in today’s market!

Some homes to look at under $250,000 listed in the MLS within the last 3 days in Boise furnished by IDX/IMLS always updated early each morning Monday - Friday except holidays:

 

 

A Boise Foreclosure Can Be a Great Buy — Or

 While it makes sense to assume that a foreclosure in Boise should be more affordable than a non-foreclosure, not everyone can find a great bargain. If your goal is to land your next residence,  a worthwhile way to gauge the value of any foreclosure is to look at it from an investor’s point of view:  how much return will the property yield?  To determine that will involve using some common benchmarks.  Below you will find some of the leading factors that contribute to making a great foreclosure evaluation:

How much did other houses sell for in the Boise local market?

Sometimes the price of a property you are looking at may seem affordable.  However, it may or may not represent the true value. That will only be apparent when compared with recent Boise market trends. According to Calculated Risk, the discount foreclosure buyers are now finding, have begun “to drop to pre-crisis levels.” That is lining up with other evidence that the foreclosure market is stabilizing as underlying home values and inventories rise. Always be sure to have your agent provide comps for similar properties sold in the Boise area.

How many houses are vacant in the neighborhood you are looking at?

You will find that some neighborhoods have a considerably higher foreclosure rate than others will have. If the neighborhood you are evaluating incorporates a high number of vacant properties, than the price should reflect that. Those areas tend to be unattractive to other buyers for a number of reasons. Even if you have no intention of reselling or renting out the foreclosure you are considering, you must factor the character of the neighborhood into your final decision. 

What is the cost to renovate?

It is hardly unusual for a foreclosure in Boise to need at least some work done to the property.   The cost can make or break your decision and your pocket book.  You must be very decisive. Make sure and contact an appraiser to go over the property. A good appraiser will be able to give you a close approximation of the extent of renovation you should expect.

There are great deals to be found in the most unexpected places – sometimes it just takes the help of a great and caring agent to uncover those deals.  If you are considering buying a Boise home in the near future- foreclosure or not – I hope you will give me a call!

Here are a few homes that are available in Boise under $200.000 listed in ther last 4 days that are active and updated daily except weekends and holidays furnished by IDX/IMLS:

Seller’s Crucial Next Step: Finding Your Boise Listing Agent

by Randy Gridley

Seller’s Crucial Next Step: Finding Your Boise Listing Agent

 

Whatever the reason you decide to sell your home, it is imperative that as a Boise homeowner you select a Boise listing agent who will get you the best results.  If you do not already have a lead on a Boise Star Producer, there are many factors that can help you choose your listing agent.  Some listing agents will be more universal and some will be specific to selling the characteristics of your home.

First, you need to decide whether you are going to need a specific specialist.  Your property may fall under the category of a luxury home or perhaps a vacation property.  Also, your home might fall under a rentable property.  If your home belongs in a special real estate niche, the first thing you may want to do is seek out an agent who promotes his or her expertise in dealing with your specific market.

If that is not the case and you happen to know someone who sold their home recently, ask him or her about what kind of experience they had with their realtor.  The best way to get an unbiased opinion is to ask someone who had a recent experience with a realtor in Boise.  Ask them what they liked the most about their Boise agent and what if anything they would have changed about the experience they had.

Always try and interview two candidates to be your Boise listing agent.  Do not be afraid to offend them if they are not your first choice.  They are the professionals and by interviewing more than one candidate you are just getting the word out that your property is going to be on the market!

When time is a factor, do not rush in choosing your listing agent.  A few extra days delay in choosing the right realtor can save you weeks or months later in getting your property sold.  If you are preparing to put your house on the market, I can offer you a no obligation in home consultation!  I will always put the strength of my network to work for you.  If you need proof---just ask!

Few homes to few in Boise that are active and updated daily early each morning, except weekends and holidays provided by IDX/IMLS:

Displaying blog entries 1-4 of 4

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Randy & Doyelene Gridley
Silvercreek Realty Group
1099 S Wells St. Suite 200
Meridian ID 83642
Randy's Direct Office: 208-859-7060

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