August 13

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Laveen Az – Buying Bargain Homes in Todays Market

Laveen Az – Buying Bargain Homes Today

 

There are several places one can look for bargain homes in the Phoenix and Laveen market. The real question I think most buyers need to ask is what their goal is as well as the type of buyer they are. From my perspective buying a bargain home can describe several types of buyers, for example investor, owner occupants, first time homebuyers or even 2nd home buyers. It is important to know what type of buyer you are so that as a realtor I know how to best help in the search.

For purposes of this particular blog, the focus will be on bargains for owner occupants or first time buyers.

Where can one find bargains and deals for owner occupants in today’s market? The real estate market currently in Phoenix, South Phoenix and Laveen is an appreciating market, with a low inventory of homes. Many properties are seeing multiple offers and many selling for over asking price. Lots of times these homes are being sold to cash investors, so how can you compete? Well, how about we take them out of the equation altogether.

If one did not have to compete with cash investors for the purchase of a property, wouldn’t that make your purchase easier? There are several places one can look for homes that investors are not allowed to purchase, allowing for owner occupant offers only. Currently there are at least three places one can buy, giving owner occupants a better shot at some of these home deals.

 

One place you can look is Freddie Mac owned homes. You can have a realtor set up a search specifically for homes listed/being sold that are part of the Freddie Mac portfolio. These homes allow only for owner occupants to purchase them for the first 15 days on the market. Freddie Mac ends up with homes all across the valley including Laveen, South Phoenix and other Phoenix metro areas.

Another entity that you can consider buying from is Fannie Mae. Fannie Mae, much like Freddie Mac only allows for owner occupants on most their homes for the first 15 days on the market. Again, this is a great place to look for homes where there will not be investor competition, and you can find a REO deal.

Lastly, you can look at HUD homes. HUD homes are properties that have reverted back to the department of Housing and Urban Development (HUD), that they list and sell as bank owned properties. There are many great deals one can find that are HUD owned homes, and again no investor competition. HUD homes generally don’t allow for investor offers until property has been on market for 30 days.

So are you looking for a bargain or great deal on a home? Try one of the above to find one. Need help setting up a search to find your deal? Just let me know and I’d be happy to help.


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bargains, deals, foreclosed, foreclosures, good deals, home, house, laveen realtor, properties, realtors laveen, short sales


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