Now is the time for folks who can take advantage of today’s real estate market to beef up their investment portfolios with short sales. Banks are closing them faster than ever before and, from start to finish, it’s not as painful anymore. There are plenty to choose from, and short sale homes make good investments because they are priced at or below market. As a general rule, short sales take a little longer to buy than the foreclosed homes (but not always) and they are in much better condition most of the time.
As agents, it’s important to remind our buyers not to be afraid of short sales. In many cases, the banks will pay closing costs and an HOA transfer fee. This is not always the case in a foreclosure sale. Some of the home foreclosures are in pretty rough condition and they will cost some cash to fix up enough to be rented or lived in.
Consider talking to your investors and buyers about short sales as we’ve seen a jump in short sale purchases by investors which is great news for short sale agents.
For more information on purchasing short sale properties as an investment please contact me directly.
Toni Patillo & Associates
Broker Of Record l DRE#0313287
Keller Williams Realty Santa Monica
2701 Ocean Park Blvd., Ste. 140 • Santa Monica, CA 90405
Office (310) 482-2035 • Fax(424) 744-4148