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SELLING HOUSES IN A DOWN MARKET
This month we elected a brand new President of the United States, Barack Obama. The former Senator from Illinois has assured us that the housing market is going to bounce back.
That's great news, right? Of course it is, but we're not going to see overnight improvements. Therefore, the big question is, how long will it take?
Buying properties when the market is in a downturn is much like striking oil in your backyard — the profit potential is through the roof. However, the same market conditions that made that incredible deal possible are also the ones that could seriously harm your abilities to sell it ... especially if you've got dreams of six-figure profits.
In situations like this it is often in your long-term best interests to hang onto your property until the storm passes. However, you're probably wondering if there's any way to make money sooner. The short answer is a resounding, "YES!"
While we're waiting for the President to sort things out in the nation's capital, there is no reason we can't create our own little microcosm of wealth right now. In fact, the best investors are those who know how to deal with market trends — good or bad — to earn money by working with and not against the economy.
Foreclosure.com is here to show you how to do just that.
This newsletter is jam-packed with tips and tricks to overcome depressed market trends. Whether you're a savvy investor or just getting started, read on for the very best advice on selling houses for top dollar in this slow-moving market.
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ATTENTION AGENTS: FORECLOSURE UNIVERSITY 101
As a real estate agent, you know that buying low makes intuitive sense.
But then what? Maybe your deals aren't going as smoothly as you'd like. Maybe you've got that nagging feeling you could be making more money. Maybe you're brand new to the foreclosure game and you're afraid of getting in over your head.
Introducing Foreclosure.com's newest way to make your real estate career succeed: Agent University.
It's an initiative that we simply couldn't be more excited about. The first of its kind, Agent University includes comprehensive training that leads to becoming a Certified Foreclosure Agent — a highly sought-after designation that buyers and sellers alike prefer when searching for qualified agents.
Classes are either online or in person, and you can schedule your study time around your busy schedule. Choose from exciting, inspiring topics such as:
Agent University covers all this and much more!
With a variety of classes and levels to choose from, you're guaranteed an informative, educational experience that will make your career in distressed real estate personally rewarding and financially lucrative.
Close more deals, get noticed by lenders and stand out from the crowd with expert training offered through Agent University. You'll never make a better investment in your career or your future.
Class is in session!
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Web site search tips
FSBO JUST GOT EASIER
Selling your home in an economy like this requires solid marketing skills. Can you succeed without an MBA?
Of course!
As with every other aspect of your distressed property transaction, Foreclosure.com is here to support you so that you can make more money than you'd ever dreamed of.
When it comes to selling in a down market that means giving you the tools to show your property off to as many potential buyers as humanly possible.
That's where ForSaleOwnerHomes.com comes in. As its name implies, it's a Web site on which you can find and list properties for sale by owner. And it's an incredibly powerful marketing tool designed to get your properties moving fast.
For absolutely no cost whatsoever, you can get your property in front of millions of eyeballs and gain exposure that can only be had from the combined power of the Internet and the reputation of Foreclosure.com.
In fact, you can benefit from more than six million site visitors every single month ... not to mention 24/7 virtual viewings and even the opportunity to list your property as a special featured property on the site. These are truly indispensable marketing tools in today's difficult real estate market conditions.
Because the geniuses at ForSaleOwnerHomes.com are also the geniuses behind Foreclosure.com, you'll also enjoy exclusive listing of your property in the FSBO section on Foreclosure.com. Whenever someone conducts a search for a property in the same state as your property listed with ForSaleOwnerHomes.com, your listing will pop right up for them to peruse.
It's unparalleled marketing power and, best of all, it's totally free!
Check out ForSaleOwnerHomes.com today to see what it can do for your real estate business!
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Hot off the press
WILL OBAMA SAVE THE HOUSING MARKET?
It's official: Barack Obama is the new President-elect of the United States of America, capping off a historical election in more ways than one on November 2. President-elect Obama will start his first day on the job with a whole host of issues that need serious attention.
The first priority on everyone's list is more than likely fixing our flagging economy.
President-elect Obama and Vice President-elect Biden say they want to make sure the housing crisis never happens again. How will they do it?
Here's a breakdown of the plan:
- Crack down on fraudulent and dishonest lenders. This includes ensuring buyers understand the whole story about what their mortgages will mean for them in financial terms.
- Create a mortgage credit, which works out to about $500 each for American mortgage holder, most of whom earn less than $50,000 per year.
- Give tax credits to middle-class homeowners.
- Revamp the subprime mortgage industry to minimize buyers getting in over their heads.
These plans and more are all in an effort to restore buyer confidence in the housing market and turn around one of the worst market slumps in the history of the United States.
But what does this mean for real estate investors or first time homebuyers like you?
At this point, it's hard to say. Many economists predict that the Democrat takeover will be enough to up confidence and get people buying again. When that happens, housing prices will go up and many of the steals you can find right now will vanish.
Accordingly, investors who already own properties and are taking advantage of today's rock bottom prices stand to make A LOT of money.
However, even the President-elect makes no promises about the timeline for economic recovery. During his speech in Chicago on the night of the election, he implied that large-scale repair of the economy could take more than one term.
The uphill battle ahead likely means that low housing prices will still be available for quite some time, which means great deals for investors. On the other hand, investors who want to make money in the short term must learn to make the most of selling in a down market.
Foreclosure.com is dedicated to helping make investment dreams a reality. Our team of experts is standing by seven days a week to teach you the ins and outs of making money in even the toughest market conditions.
If you haven't signed up yet, get your FREE 7-Day Trial right now and join the hundreds of thousands of our readers who trust Foreclosure.com to help them do what they do best — create investment riches.
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Our success stories
NELSON KNOWS REAL ESTATE!
Tara-Nicholle Nelson may not have always been a distressed property investor, but she's definitely always been smart ... really smart.
Tara's first 10 career years were consumed by diverse interests, including psychology and law.
These fields helped her to develop:
- (a) an intimate understanding of people
- (b) a killer negotiation instinct
It's widely believed that success occurs when preparation meets opportunity. Well, Tara's experience certainly prepared her for the opportunity that came next: her own trials and tribulations when trying to buy a home for her and her two young children.
It was only a matter of time before Tara stopped practicing law and started selling real estate. After that, it didn't take long for her to realize that distressed property investors could seriously benefit from her negotiating prowess, her legal knowledge and her natural ability to maximize earning potential in any market.
In 2006, Tara launched {RE}Think Real Estate, a company devoted to educating people — women in particular — about creating wealth through property ownership. The demand for her information and products skyrocketed overnight. Since that time, Tara has been featured in newspapers (including the New York Times, Wall Street Journal and Washington Post) and has appeared on CNN, Fox News, San Francisco ABC 7's "View From the Bay" and more.
Foreclosure.com is very proud to have teamed up with Tara to offer you her invaluable instruction in the form of a Webinar entitled, "Realtors! Make a Killing Selling Foreclosures."
You'll benefit from Tara's easy-to-understand communication and unbeatable tips on:
- Explosive event marketing, branding yourself as an expert to get qualified buyers
- The five most expensive mistakes foreclosure buyer brokers make and how to avoid them
- Doing bank deals, including secrets that get your deals closed fast and hassle-free
All this and much more is included in Tara's information-packed 90-minute Webinar that will dramatically improve your real estate investment career.
Watch "Realtors! Make a Killing Selling Foreclosures" right now! There's no waiting with Foreclosure.com's exclusive On Demand Webinars!
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Real estate tips
SHOWCASE YOUR VALUE TO BUYERS
Okay, so you've got a property that you want to sell for big bucks. It can be tricky given the current market situation, but definitely not impossible.
Below, you'll find some nitty-gritty details for generating a ton of awareness about your property and showcasing it at its best to ensure you recieve top dollar at the closing table.
- Signage
This may seem obvious, but you wouldn't believe how many would-be sellers overlook the impact of signs. Several days before your open house, put signs up around the neighborhood and on major thoroughfares that connect your neighborhood to the rest of the city.
You'll want at least 15 bright (bordering on obnoxious) signs that are easy to read. Make sure that the signs are also identical. Why? Because you want to create a type of brand awareness. Yes, it's just one house and yes, you may not have your own real "brand," but from now on, do think of yourself as a brand. If you sell just one quality property, word will get out and the next time you're ready to sell, there will be a little more buzz than before. See every single sign and every open house as an investment into your career. Make them professional and make them stand out.
- Newspaper Ads
You don't need to bombard people with tons of information — you just need to pique their curiosity. Ironically, a detailed but long ad will deter people because they're simply not paying enough attention to read your whole spiel. Instead, choose your wording carefully and restrict yourself to three lines only, plus a phone number.
Check out the following example:
3/2 Prime Area!
Urgent Sale! Low Down
Great Value – $2000 per Month!
561-222-1111
That's all there is to it! Basically, most buyers want to know the house has enough bedrooms, is in a decent location and that they can afford it. Ads like the one above are all it takes to get them to their phones.
Notice also how the above ad focuses on the month-to-month affordability of the home and not its list price. This is because buyers can be scared off by big figures, but if you put it into terms that their wallet can cope with, they're far more likely to come take a look.
The above ad also uses lots of descriptive words. Try to do the same in your ad. Words and phrases like "immaculate," "unbeatable," "best location," "incredible value" and so on will all ensure your ad has that must-call quality.
- Beating the Competition
Because the real estate market is inundated with houses, it can be difficult to command top price for your properties. To really stand out from the crowd, your house has to have a legitimate and immediately obvious "wow" factor.
Does your property have curb appeal? If not, delay that open house! Your house simply must have a tidy lawn, clean windows, trimmed hedges and an overall well-kept exterior to attract attention. If the first things buyers see are junk on the lawn and weeds in the garden, it gives a terrible first impression.
Here's a tip: If your house has a blah exterior that makes it fade into the background, try painting the front door an eye-popping red. It's a bold way to make your property stand out and give it a bit of personality that will impress buyers the moment they drive up.
Next, price that house right. If you've got a lot of competition (and right now, you definitely do!), it's worth it to set the price of the property just a tiny bit lower than what the competition advertises. In this market, you have to make it really obvious what a great value your property is. Even a measly thousand dollars can make a big difference in the number of people who come to your open houses. Remember, the object here is to sell; if you're too greedy, your house will just sit... and sit... and sit.
For more great tips on selling in a down market, check out Foreclosure.com's On Demand Webinars!
Please note that these tips were taken from the Foreclosure.com "Get Rich Buying Real Estate Foreclosures" CD/DVD training course — the ultimate step-by-step guide to investing in distressed properties for unbelievable riches. To learn more click here.
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Linda's Learning Lane
Close out 2008
with a bang
The holidays are now officially
upon us!
If you are currently running into problems trying to sell a house don't lose hope — now is the perfect time to stage your home for it to sell right. Just remember to follow the guidelines that we provide in this issue of, "Investment Exchange."
Believe it or not, the Realtors® I know typically see an upswing in their closings at the end of the year, which has a lot to do with taxes and buyers wanting to get as much benefit as possible.
In other news, we just returned from the National Association of Realtors® (NAR) annual convention in Orlando. It was exciting to see the energy from the agents and brokers attending, as well as their determination to be successful in any market.
While at the show, we educated the attendees on several of the different tools Foreclosure.com has available for Realtors® and investors, including our Certified Foreclosure Agent program. Certified Foreclosure Agent designations will help facilitate your quest for knowledge in monetizing with foreclosures and teach investors how to be as successful as possible.
If you missed NAR be sure to check out AgentUniversity.Foreclosure.com for more details.
Because Thanksgiving is quickly approaching, I would be remiss if I didn't take a minute to thank many different individuals. First off, a big thanks goes out to you: a loyal reader of, "Investment Exchange!" We enjoy bringing you fresh and up-to-date information as it relates to foreclosures and all that is involved with finding great deals and making wise investment choices.
Thank you to our sponsors! It is a pleasure working with you. Thanks to our talented instructors and speakers who have participated throughout 2008! We have all learned much from each of you. And last but not least, thank you to our writing and creative staff! They are the best — individuals who care about their work and it shows in every issue.
In closing, may you all find areas throughout your lives of which to be grateful.
Thanks for reading!
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