Author Archive
How to Complete a Comparative Market Analysis (CMA)
What is a Comparative Market Analysis (CMA)?
A CMA is a comparison of similar homes in the area that are on the market or have been sold recently (preferably within the past year). With some practice, conducting your own CMAs will be an easy way to accurately determine a reasonable asking price for a property so it will sell in a short amount of time. Read more …
Understanding Market Value
As you contemplate buying and selling a foreclosure property, you’ll need to have a keen understanding of market value - not just in general, but specifically in the neighborhood where you’re investing and particularly for the property you’re looking to pursue. Market value is the value of real estate property and is determined by the current market along with many factors regarding the home. It is greatly affected by how many buyers are looking for houses in the area and how many houses are available.
Tools for Foreclosure Investment
Get the Right Tools
In order to become a knowledgeable investor, you will need to complete enough research to familiarize yourself with the variations of properties and what features make or break a deal when it comes to selling homes. There are 5 basic tools you will need as you begin: Read more …
Using Appraisals to Determine Market Value
Understanding Appraisals and Market Value
In the US, appraisals are performed to a certain standard of value (e.g. — foreclosure value, fair market value, distressed sale value, investment value). The most commonly used definition of value is Market Value. While the Uniform Standards of Professional Appraisal Practice (USPAP) does not define Market Value, it provides general guidance for how Market Value should be defined: Read more …
Free Foreclosure Listings
Free Foreclosure Listings
There are hundreds of sites asking you to pay for their listings of foreclosures in your area. While they may have lots of bells and whistles, the listings are what you want and you can get them without a fee. Here is a list of free links to get you started on your search for your new home or investment property. Read more …
Benefits of Buying Foreclosures
Buying a foreclosure can seem like a gamble between winning the jackpot or ending up with a proverbial “money pit”. There are pros and cons to buying foreclosed homes. Let’s take a moment to look at some of the good things that come with making an investment in these homes. Read more …
Dangers of Buying Foreclosures
Foreclosures are excellent investment opportunities as they are often sold for prices lower than market value. However, it is imperative to be a wise buyer and watch for several issues that can quickly sour a great deal. Take note of the following to ensure your purchase does not become a disaster. Read more …
Buying Real Estate Foreclosures
Before you begin looking for a foreclosed home to purchase, decide if this is going to be an investment opportunity or if you are looking for a home to live in. Then check out our post on the types of foreclosure properties to better understand the last phases a foreclosure goes through. To help you decide which type of foreclosure property you’d like to focus on, here are a few tips on buying foreclosure properties. Read more …