What a mess! I have been buying and selling Real Estate for over 25 years and have been through 3 booms and busts. This one is the most dramatic with the far more properties that need to be purchased and put back in service. You can help yourself and your community by simply doing one or two projects per year for the next several years. Some of my Examples: I paid $66,200 for a 3 bedroom ½ plex, spent about $5,000 to get it ready for the Retail market and then sold it for $107,000 to a nice family that was having troubles finding a good place to live in that price range. I paid $133,000 for a well located Condominium that only needed carpet and paint and then sold it for $191,000. I have purchased over 50 properties in this Down Cycle so far and I am convinced we need more folks to help out due to the large number of Foreclosures that are sitting vacant and need new owners.
The “Blind Side” to Buying and Selling Real Estate
Recently my husband and I went to see the award winning movie “The Blind Side” starring Sandra Bullock. The movie is based on the extraordinary true story chronicled in the New York Times bestseller book with the same title by Michael Lewis. The story is about football, but as a Realtor I immediately saw parallels to the buying and selling of real estate.
In football, the blind side for a quarterback is where they can’t see whoever may be coming to block them when they look over their shoulder. It didn’t become a common phrase in football until Lawrence Taylor altered the environment and forced opposing coaches and players to adapt. Specifically Lawrence Taylor altered Joe Thiesmann’s life on November 18, 1985 when he came out of nowhere and ended his football career. As Taylor said afterwards when imagining himself in a quarterback’s skin he had knocked from a game: “We all have fears. We all have fears.”
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Buy and Sell Real Estate From Home and Be Part of the Solution!
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Selling Real Estate With Seller Financing
Seller financing, more commonly called a VTB or vendor take back mortgage is simply where the seller (Vendor) of a property is willing to provide some (or all) of the mortgage financing on that property.
Most of the time you hear seller financing discussed as a way for real estate investors to buy investment properties without having to go to a bank for financing. But there are tremendous benefits to you as a seller if you’re selling real estate and offering seller financing to the buyer.
