With the nation’s second tightest level of inventory, finding your next home can be tough, and getting a great deal can seem next to impossible. These strategies offer an out-of-the-box solution for getting that great deal in Seattle.
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Right now, we have the second lowest inventory in the country, behind San Francisco.
Are you a homeowner looking to take advantage of our market by selling your house, but you can’t find the house you want to buy next? Or are you looking to buy a home and you’re sick of paying for pre-inspections and not getting the house? Sick of multiple offer situations? Sick of houses selling so fast that you don’t even have an opportunity to look at them and write an offer?
The big question is: Where are real estate investors finding great deals in today’s market? They’re going homeowner direct.
The first strategy we can use to help you get a great deal in this market is by going to for sale by owner homes. This means the seller doesn’t want to put their home on the MLS and list with an agent. Many times, they’re willing to pay an agent to bring in a pre-approved buyer to buy their house.
The second strategy is to go after expired listings, which are homes that didn’t sell during the time of the contract with the listing agent. There aren’t a ton of these in the Seattle market, but we can go back and look at old expired listings from around 2009, 2010, or 2011, when they weren’t able to get as much money for their house. Now that the market is up, they might be willing to sell because they can get good money.
The third strategy we can use is to look at pre-foreclosure properties. There are homeowners who are in foreclosure and not making payments. Many people think these are short sales that may never close. That’s true, but there are a few homeowners out there in pre-foreclosure who have a lot of equity. We run into people who haven’t made a payment in as many as five years and still have equity in their house but don’t know it. We reach out to these people to let them know we have a pre-approved buyer interested in buying their home and ask whether they’d consider selling.
You’d be amazed at how many people find out that they can walk away without owing any money to the bank and are willing to sell their house. We go to these people and put the deal together off-market.
Finally, we use direct mail. This could be postcards, handwritten notes, or even a little gift to entice them to give us a call. We can also use Facebook advertising in a specific neighborhood to target houses that fit a certain set of criteria. We can send marketing materials directly to these homeowners.
If you’re looking to buy house and you have more questions about these strategies, give me a call or send me an email today. I’d be happy to help you!