September 20, 2011 17:29 by andrey
Prices are at an All Time Low
One of the biggest barriers for first time buyers to buy in a premium neighborhood is simply a price that is out of range. One of those markets that has been historically hard for first time buyers to enter is Kirkland, WA. Now the price barrier has been considerably lowered and many deals can be found by searching through foreclosure properties in Kirkland.
With many foreclosure properties available for $0.90 to $0.60 on the dollar, the ability to buy in Kirkland is now feasible for first time buyers. Prices, in both the retail market and the bank auctions, have been showing strong support throughout the summer.
Many buyers are sensing that now is the time to take advantage of low pricing before the trend starts to rise and a coming fresh demand will only serve to bolster prices and values.
Find an Amazing Deal in Days and Have Little to No Competition
If you happen to be working with the right real estate broker… one who is experienced with bank auctions, then finding a foreclosure property to buy in Kirkland will not be hard. Working with a team like Vestus will put all the data on foreclosures at your fingertips and you will be able to sift through every opportunity in a matter of hours.
Once you have established which few properties going to auction best fit your criteria, a little deeper digging into the details will show you which will be the best picks, and the next step is to go to an auction.
So few buyers and investors ever take this step that compared to the normal real estate market where properties are listed on the MLS, you will experience very little competition. Many fantastic properties come to auction and are simply not purchased because there wasn’t a buyer available.
Mortgage Rates Are At Rock Bottom
Rates are the lowest that many mortgage brokers have ever seen. Just pick up the phone and call any three mortgage brokers and ask them. All three will tell you the exact same thing.
Low rates spell opportunity for buyers. Saving tens of thousands of dollars over the lifetime of a mortgage is creating demand amongst buyers which is starting to bolster markets. Coupling low mortgage rates with the savings found in foreclosure properties right now is creating perfect “deals of the decade” every single week for small numbers of buyers who are simply in the know.
You owe it to yourself to explore the opportunity and see what you can qualify for with a mortgage rate and also how you might be able to purchase a bank owned property at the auction.