As of today there are 9 bank owned Doctor Phillips properties for sale…a far cry from the 50 to 60 active homes in 2010.
Sure we are better off in 2016 with the stabilization of the real estate market but how can you still land one of those great deals that were a dime a dozen only a few years ago?
- Be the first or last – When it comes to bank owned properties the early bird does have the best chance of landing a great deal. It’s not uncommon when previewing a new bank owned listing on day one that I see a revolving door of agents, we do know good deals when they hit the market.
- Look for missed priced listings – The attractively priced homes go quickly but what about those over priced bank owned properties. Over priced homes don’t get a lot of activity especially when the market time builds up. Look for bank owned properties on the market 180 days plus and make an attractive offer under value.
- Find value – how can you land a great deal unless you know the value of the property. It’s not uncommon I see real estate agents in the business for years looking at Zillow for values, or taking 4 comparable properties and taking the average, I wish it was that easy. Finding value is knowing what a typical buyer will pay for a home, it’s not a guessing game!
Following these steps to find that great deal in sought after Doctor Phillips, their still out there, just not as many.