We have heard that the current market will turn. There are situations in our world that will create bumps in the road such as Dubai. The market will turn, however. When it does you will need to be prepared for what will occur.
Sometime soon we will see banks accepting short sales quicker as well as REO's. Many have seen that the market for buying bank properties has slowed if not even come to a halt.
Banks have been given a lot of leniency from the government and I feel that they government is getting sick of the delays of lending and delays of selling properties that banks have given.
For most investors we receive acceptances here and there on properties and for many of us we see that our short sale offers are put on hold. I myself have 22 offers waiting for bank acceptances right now.
If you are like me and have a lot of properties in the wings you will want to ask yourself what will you do if they all get accepted - say after a government intervention?
I suggest that you start planning now. How will you use your exit strategies? What about multiple buyers. Could you handle a larger load?
If you are just starting consider that many banks will hold offer for a long period before acceptances. This may be of great use for yourself.
Enjoy and make this market the best it can be for yourself. If you are prepared you shall succeed.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125