Most buyers are looking for a bargain amoung the short sales and
bank owned properties listed on the MLS. The problem with that is that
the cats out of the bag now. That's where everyone else is looking for
deals too and bargain hunters are bidding these homes in the most
desirable areas up so that they arent really a bargain anymore.
One place thats often overlooked is in the narrow window of
opportunity that occurs between the actual foreclosure auction (trustee
sale) and the time that passes before the bank gets the property listed
with a realtor on the MLS.
I recently helped a friend who was turned away by a traditional
real estate agent. By working this window we got an offer in to the bank BEFORE it
came on the market and was bid up by other bargain hunters. She saved
$225,000 off of the pre-forecloure list price.
The deals ARE out there.... You just gotta know where to look.
Brett Jennings
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