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Find The Pocket, Or Know Someone Who Knows Where The Pocket Is

02 May

If there’s an opportunity for home sellers within the residential market, it’s now.  There have been a great number of reports both locally and nationally that state the bottom of the real estate market has been reached or was hit last summer (2011).  Hmmm, that’s interesting, because I don’t recall the law of supply and demand being repealed.  It’s similar to the LAW of gravity – it exists even if you choose to ignore it.

Let’s do some simple math:

60,000 – The number of properties repossessed each month by lenders (nationally).

260,000 – The number of properties PER MONTH that have the foreclosure process started on them.

3 million – The number of annual sales in the United States of residential real estate. (NAR’s forecast was initially over 5 million; then it was reduced and reduced again. THEN they came out with a report saying, “Ooops, we were double counting some sales as the same properties were being sold more than once per year [being flipped by investors].”

190,000 – The number of properties in excess supply PER MONTH that WILL at some point come back into the marketplace … When?  What day will that be?  I see the foreclosure reports, yet missed the memo that the banks are releasing them into the market next Thursday at 8am. (Of which there was no memo, but could they? How do you know?)

So, how on Earth is there a pocket of opportunity for SELLERS????

The supply HAS diminished.  Read that statement with caution.  This does NOT mean we have reached a bottom.  Demand has stayed the same (slight increase in number of sales).  So, if there’s an opportunity to SELL your home for the maximum dollars available in the market, have LESS competition, and maximize your equity preservation, wouldn’t you want to pursue it?

Has there ever been a time when you didn’t follow your gut?  Is it possible that this time could be just like that time?

 

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2 responses to “Find The Pocket, Or Know Someone Who Knows Where The Pocket Is

  1. nickmod

    May 8, 2012 at 1:05 pm

    Seller financing is a niche (pocket) opportunity that can help sellers get maximum price in a minimum amount of time in today’s marketplace. That’s because 97% of all MLS listed properties–including 100% of all REO’s on the market today and those coming soon from shadow inventory–require the potential buyer to have the ability to write a check for the full purchase price, or be able to get a mortgage loan. That eliminates about 50% of the people who would love to buy a property right now, and who could easily afford to live in it if they could only get one. Specializing in seller financing would unlock that huge untapped and ignored market of buyers and turn the law of supply and demand into your best friend.

     
    • lesliebriskman

      May 8, 2012 at 3:07 pm

      Seller financing CAN assist buyers who are otherwise unable to qualify and CAN assist sellers who are otherwise unable to sell; it must make sense for the seller’s long term goals and each scenario should be evaluated separately and of course always with the party’s interests who you are representing as a top priority – not the commission, the deal, etc. Whoever HIRED you is who you represent.

      Thanks for the insight Nick!

       

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