Mortgage Rates Are Not Going Any Lower
You can invest in King County bank owned properties with mortgage rates that are at historic lows and will save you tens of thousands of dollars over the lifetime of the loan. These savings coupled with current discounted prices available with bank owned properties make for a perfect time to invest right now.
A fresh supply of demand from first time buyers who weren’t able to purchase before due to either unaffordable rates and/or home prices being too high, are now finding that it is a strong buyers market.
These buyers are starting to enter the market in droves as shown by numbers of offers being written by real estate brokers currently compared to this time last year. Fresh demand means price support and also a coming shift in mortgage rate trends.
Flood of New Renters Entering Market
Buying bank owned properties in King County will position yourself to supply a rapidly growing demand for new home renters who used to be hardship stories and are now fixing their credit and have stable jobs again.
All the people who went through foreclosure in the past few years are usually middle class, back bone of America families who simply found themselves financially over extended and victims of the real estate bubble.
An overwhelming majority of these previous hardship stories are now putting the pieces back to together again and are re-entering the market as home renters who need something more than a two bedroom apartment due to kids.
Owning a property in an area that is seeing a strong growth trend in rental search means that finding a renter and cash flowing a property won’t be difficult.
Smart Deals Available Every Week
In King County, all bank owned properties go to auction every single Friday on the county courthouse steps. Creating a criteria that fits your real estate investment strategy and simply filtering all the properties through that criteria every single week means that you can identify great deals with only a couple of hours of work per week.
Working with most real estate brokers will be an exercise in frustration since they are not experienced with purchasing properties at the auction and they don’t have reliable sources of data.
The team at Vestus has real time data available on all bank owned properties going to auction for free to any investor or buyer. This information is also made readily available online and can be viewed 24/7 as it is updated in real time.
Every single week there are opportunities entering the market. Simply weeding through them to find your best fits and conducting your due diligence will provide results in short order.