Buy Real Estate Below Market Value | Pasadena & South Pasadena Real Estate

Get Your Low Ball Real Estate Offer Accepted

On one of my recent posts I explained why your low ball offer will be rejected. This time, we'll flip the coin and look at how to increase your chances of having your offer accepted. If your intent is to buy a property with an FHA Loan, a 3.5% deposit and a 60 day escrow, let's just say you have about as much of a chance of having your offer accepted as the likelihood of the no doc loan returning within our lifetime. In an attempt at brevity some things were left out of last week's article. … [Read more...]

Pasadena Real Estate Blog Features “Price It Low & Watch It Go”

Update: This home closed a few days ago at the end of August. As you recall the property featured two units on a lot and was listed for $399,000. The final selling price was $500,000. As we continue to see more and more bank owned properties, lenders are opting to "fire sale" their inventory. Listing a property at a very low price creates a lot of interest, allowing the bank to choose from several different offers, finding a buyer in a very strong financial position and one who is also eager and … [Read more...]