Now is the Time for Real Estate Bargains in the Twin Falls Area
Real Estate is doing better so far this year in the Twin Falls area. It appears that with the long road to recovery this current market may be the “New Normal.” Investors are coming back into the real estate market in many areas and getting some great deals. There are local lenders offering financing for investors, and for parents wanting to help their children get into a home, that are better than we have seen in years! If you are thinking of investing in real estate this is a great time to buy. Interest rates are still low and prices are the lowest they have been in years.
Some people still think we haven’t hit bottom yet. I think we have, or at least we are very close. We are seeing a leveling of prices and slowing in new listings. Often if you wait until the market shows an increase to determine that the bottom has actually been reached, you may miss your window of opportunity. It is better to buy and have prices go down a few points before it starts up than to wait until the increase has already started. You will probably be in a solid position to profit from the rise.
There will be more bank owned properties coming on the market over the next several months, and even years, which is just a sign of the times. Remember that just because the bank owns them doesn’t mean they are going to be cheap. For the banks it is all about the dollars and cents. The bottom line is “How much of a loss they will take?” As more and more investors get into the market, and more first time buyers try to purchase these homes, the loss the banks are taking is becoming less and less. Remember, the banks generally won’t accept your offer or reject it like a normal buyer, but will use it as “bait” to bring in other offers. They then come back to you and ask for “your best offer.” I have seen these “bidding wars” produce sale prices far higher than the properties were worth in this market.
There are strategies that can help work around these bank strategies. Call for more information and to set up an appointment to structure a purchase plan based on your personal situation. 208-420-2345
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