Here’s a great article about buying foreclosed home that you should read before you consider buying a Fort Mill SC foreclosed home:
Many people jump at the opportunity to buy foreclosures, but this is definitely a buyer beware market. There are, however, a lot of good reasons to buy a foreclosed home, you just must be prepared to put time and effort into fixing it. If you’re looking for a great deal on a home, or you are a first time home buyer, this is a great way to get your foot in the door and get into the house you’ve always wanted.
It is honestly amazing the deals that you can get by buying a foreclosure. There are so many foreclosed homes that may need little to no work, and simply were abandoned, and there are other foreclosures that will need so much work. You’ll be amazed at the deals you can get in purchasing a foreclosure.
If you are willing to put in the time and effort, you may be able to get a screaming deal. Once you find a foreclosure, have a home inspector go through it. When the inspector goes through it, they will be able to help figure out if there is anything major wrong with the house, or if you just need some renovations.
When purchasing a foreclosed home, unless you are ready for a project, you want to stay away with anything that has water damage, mold, or foundation damage. These projects are probably best left for a contractor, and may be better off left alone. It depends what the price of the house is, but you want to be sure that you don’t get yourself into a project that can cost you more than the house will ever be worth. Better to look at a foreclosed home that doesn’t need quite as much work. It’s easy to update kitchens, tear out carpet or paint and patch walls. That doesn’t cost too much, and is something that can be done relatively easy no matter if you do it yourself or you’re hiring a contractor. These projects can also be completed once you’ve moved into the home and don’t require you living someplace else while you fix up where you want to be living.
You also can make a lot of money by fixing up a foreclosed home, if you’re looking to flip houses, this is a great way to do it. You can get these homes for cheap, and even with labor and supplies you can still sell them to make a profit. This is a whole industry now, and something that even hobby carpenters can get into it and make a few extra bucks.
If you’re ready to buy a home, you may want to look at what a foreclosure has to offer. You can get great deals through these homes, and with a little hard labor, work, and dedication you can have a great home for a very low price. Of course, these are always a buyer beware purchase, but with the right research, the right people, and the right price, you can get yourself a deal.
Louise Scoggins is a leading Realtor in the Cherokee County Homes market. For more information on Cherokee County Real Estate, please visit ThinkLouise.com
Article Source: http://EzineArticles.com/?expert=Louise_Scoggins
Filed under Carolina Real Estate, Foreclosed Houses, Fort Mill SC, Home Buyers, Real Estate Investing by 
If you are in the market to buy a home, you probably feel like you are king. You have been told over and over again that it is a buyer’s market and the “steal of a deal” you can get.
BEWARE! Many times it’s not always readily apparent why a particular house for sale is such a steal of a deal, and as a result you can be mislead into being a difficult buyer rather than a successful one.
Here are some qualities of a successful buyer to be sure you are on track to find the right house, at the right price, at the right time:
- Provide your real estate agent complete and accurate information, whether it be financial, motivations, or time-lines. The more information they have the more they can help you.
- Set aside consistent time to learn about and to stay abreast of the market inventory. Ask your real estate professional to send you homes currently on the market and keep track what price ranges are moving and what they might be selling at. Your real estate professional can help you with statistics as well.
- Be prepared to be competitive and disciplined.
- Give serious consideration to your real estate professional’s advice. There is probably good reason you hired this professional to work on your behalf so sure before you do hire a real estate agent, make sure they know their facts about the current market.
With these few basic qualities you’ll save yourself time and money, and will not be disappointed by unmet expectations.
Happy Buying!
Filed under Buy Your Dream House, Carolina Real Estate, Hiring An Agent, Home Buyers, Lessons Learned, Market Trends by
I know it seems like forever and a day that we’ve been talking about just how down the economy is and how there’s so much uncertainty about everything financial, but believe it or not, right now is a GREAT time to buy a house in the Fort Mill or Rock Hill SC area.
How can I say such crazy things?
Here are 5 reasons why I believe it’s such a great time to buy a Fort Mill or Rock Hill SC house:
- It’s a buyer’s market. I don’t think this one comes as any surprise, but today’s buyers have an opportunity to dictate a lot of the transactions. While you should still expect to pay a fair market value, given the state of the economy overall today’s fair market value is considerably lower than what it has been. As a result, there are some real gems available for those willing to do the work and find them.Or you could simply hire a savvy Fort Mill real estate agent to do all of the hard work for you.
- Interest rates are still at all-time lows. I personally don’t remember the days when interest rates where close to 20% so I can’t really speak from personal experience, but I do know that any time interest rates are around the 5% mark we’re dealing with some very inexpensive loans.All of the banks have definitely cracked down on just giving away loans so you’ll need to have good credit and the ability to pay, but that should really go without saying anyway.
- All of your competition is on vacation. With the summer in full swing a lot of your home buying competition is at the beach, in the mountains, or over the river and through the woods to visit dear old grandma. As a result, you’re less likely to face competition when bidding on that new home of your dreams.
- The Fort Mill and Rock Hill SC real estate markets are relatively strong. Unlike other areas of the country, the Charlotte metro area has remained relatively strong, in spite of the many job losses we’ve experienced.York County has done a great job of bringing in new companies and with some of the highest rated schools in the state of South Carolina, chances are we’ll continue to see an influx of people moving to the Fort Mill and Rock Hill area, either for jobs or simply to escape much of the chaos that is the Charlotte Mecklenburg school system.
- The school year is rapidly approaching. As summer moves towards the fall season, it means that school will soon be in session. Whether you’re hoping to get a child enrolled in one of SC’s highest rated school districts or the home seller is looking to be moved out before the school year starts, right now is definitely the time to take action.Remember, it takes 30-45 days to close on a typical residential real estate transaction, which means you’ll need to get moving soon in order to beat the school bus to the corner!
Finally, just keep in mind that any time there is uncertainly and ‘gloom and doom’ talk about the economy it means there are LOTS of great deals available for those willing to put in the time and effort required to uncover them. With a little bit of real estate knowledge and experience (or having someone on your side that has these), you can find that perfect new house that you’ll be able to enjoy for many years to come.
Filed under Buy Your Dream House, Carolina Real Estate, Home Buyers, Life In the Carolinas, Market Trends by
