Investor Properties
May 28, 2008 by Bob Schenkenberger · Leave a Comment
photo credit: cioproject
I’m witnessing an interesting trend. Investment property opportunities are much tougher to come by than only a couple months ago!
Earlier this year, we were finding 2-3 properties per week that would meet our “Great Deal” or “Wholesale” criteria. That is, a property available for purchase at a price that was at least 20% below pre-2005 values.
Its been over 3 weeks since one of these deals has surfaced. Additionally, HUD owned home are tougher to find. For example, there are only 2 HUD homes in all of Douglas County. Only 4 months ago, there was 15-20.
The take away is, as an investor or first time buyer, all new “Wholesale” deals will be scooped up quickly. As the market continues to improve, these deals will become more scarce, and you will likely face competition to be the high bidder.
We will continue to comb the market for extraordinary deals for our clients, but if you are thinking of about this kind of purchase, be prepared. Only the most qualified, and quickest to act will win!
Bob has been an active REALTOR for Over 20 years. During this time, he has closed over 500 transactions, and has been the broker of record for 1000's more. Bob can be reached via email (bob@gethomedenver.com) or phone (303.770.1180.)
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