Distressed properties – foreclosures and short sales alike – represent potentially great value for prospective buyers. However, common misconceptions about the time and money investment involved with buying such properties may keep many from inquiring further into this market. KW Research survey findings, taken from more than 2,500 KW associate respondents who have worked with distressed properties, can help steer clear of concerns as you make your way to home-ownership. Here is some interesting data from our survey:
3 out of 5 REO buyers and 1 in every 2 short sale buyers spent less than one month searching for a home before writing an offer.
7 out of 10 distressed property buyers wrote three or fewer offers before one of the offers was accepted.
Half of REO buyers and almost one-third of short sale buyers spent less than $5,000 in repairs. Repair costs tend to be a concern with distressed properties.
Dealing with distressed properties does take time and patience, but don’t be deterred by common misconceptions. Contact one of our Fort Collins Real Estate Agents today for further inquires into this market.
Source: Keller Williams Realty, Inc, “This Month in Real Estate,” released 6/7/2010.
Distressed properties – foreclosures and short sales alike – represent potentially great value for prospective buyers. However, common misconceptions about the time and money investment involved with buying such properties may keep many from inquiring further into this market. KW Research survey findings, taken from more than 2,500 KW associate respondents who have worked with distressed properties, can help steer clear of concerns as you make your way to home-ownership. Here is some interesting data from our survey: