Wednesday, June 17, 2009

Foreclosure Experience - 8

In conclusion of foreclosure homes as business, my honest opinion is that this business is not easy. It is not like buying same kind of old or pre-owned book or car. You may think the price is important. It is for sure. But, the price might be low due to damages or any reasons. You might have thought that priced low property would be sold easy. But it may be the case the higher priced homes may be moved better than low priced houses. Then, where you could get funding for high priced properties?

As one of my regular readers pointed out, if one is experienced with foreclosure homes, he might not touch it again. You may lose competition against regular homes. I think some point of time there were explanation I came across, which goes you buy the foreclosure home at low price and sell it with higher price. Only possibility you can do this would be you repair the damages. But, how and where you get money to repair it. If you show the property without repairing it, the possibility is that buyer hopes to get even lower prices.

My feeling is that this is not a business for everybody. If you have knowledgeable, experienced professional help, you may be able to play in this market. If not it is not easy ride. This is some unnecessary addition, but I have some emotional resistance to use foreclosure homes which previous owner needed to give up with lots of pains. Don't you?

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Shaw Funami
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Marketing Unscrambled, learn to earn 14 said...

Shaw, it is very hard to think of the person that lost that property, so that you can get it at a price lower than what it should have been if you where buying it from that person not the bank. All the blood sweet and tears that they put into it and do not have any more.
Dan and Deanna "Marketing Unscrambled"

Hilary Melton-Butcher said...

Hi Shaw .. I think the house looks lovely - you seem to have made a very good job of it - well done!

All the best to the three of you ..
Hilary Melton-Butcher
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Shaw said...

Hi Dan & Deanna,

Yeah, I feel the same way as you say. At least we can be thankful for them and pray for them so that they also are happy.

Thank you for your comment.
Shaw Funami
Fill the Missing Link

Shaw said...

Hello Hilary,

Thank you for your comment. We try to take good care of everything. We feel we have not yet half done. It is continuous effort looks like.

Thanks again!
Shaw Funami
Fill the Missing Link