|
In this newsletter:
**************************************** WILD TICKETS I still have a partnership opening for MN Wild tickets for you. The seats are on the 200 level, near where the escalator is located. They are inside the blue line where the Wild shoot twice. If you’d be interested in 1/2 of the games for next year on 2 of the seats– please get in touch with me (call or text my cell phone: 651-246-6192, or email me: craig@craigarmstronghomes.com). **************************************** FIND ME ON FACEBOOK Do you use Facebook? Find my Fan Page on Facebook: CraigArmstrong Realtor (Note that Craig and Armstrong do not have a space between them…). I don’t bombard folks with updates, but I do offer tidbits of information. Currently, there are 117 “Fans” on that page. When we get to 200, I’m giving away a $50 Target Gift Card to one lucky fan. I will do a drawing from the 200 folks, and someone’s getting a gift card – it could be you! **************************************** How To Get A Steal of A Deal in Today’s Real Estate Market There are many would be thieves out there in today’s real estate market. In fact, I keep waiting for a HGTV show entitled “Property Bandits” to be introduced. Mark my words -- I know it’s coming. Heck, it might already be here, after all, when was the last time I had time to watch TV? <sigh> Nonetheless, I feel confident in expressing that a definite trend is upon us. Modern day robber barons arrive at the doorstep of my real estate office every day requesting “a steal.” My first question for these theft inclined buyers is -- what is a steal? Does that mean you want to pay a price so low that all your coworkers' jaws remain dropped from now until next year? Or does it mean you paid $10,000 less than the lowest comp in the same neighborhood? Does that mean you got a well upgraded home for the price someone paid for a beat up foreclosure down the street? Or does it mean you bought the beat up foreclosure down the street? Does that mean you put nothing down, they paid your closing costs, and threw in the lawn mower to boot? “A steal,” after all, can be defined many different ways. That being said, there ARE people who are getting what I would call “steals” in today’s market. Usually they are paying all cash and often times at a foreclosure auction where they purchase homes sight unseen and subject to liens, taxes and tenants. And yet, most of the people who desire a “steal” can not or would not buy a home that way. In fact, when I think back on the real “steals” I’ve gotten clients in the last 3 or 4 foreclosure driven years, almost all were all cash deals, and the other remaining ones were large down payment deals. It is difficult for low down payment buyers to understand why the method of payment should affect the type of deal they get. But it does. Put yourself in the seller's position, why might you offer someone a steal of a deal? Desperation? Maybe. But, you still expect something in exchange for selling your property cheap, right? You probably want the property to sell fast and you don’t want to make any repairs to it either -- after all the buyer is getting a steal and you know it. Cash enables an immediate close without any of the delays that go along with getting a loan in place. Waiting on your down payment gift money was not part of the equation when they priced that home. Even a large down payment loan (40 - 50% down) is generally more of a sure thing than a low down payment loan and will often be the first runner up to cash. And, most low down payment loans require repairs to be made to bring the property up to a certain standard -- which sellers who are offering “steals” don’t often want to do. So, quite often these days you will see homes listed at a low price, but it is essentially a “cash price,” because that is the only "financing" the seller will accept. They don’t want the risk of your financing or finances -- that’s why they are selling at pickpocket prices. How do you get a “steal” in today’s real estate market? I’m afraid the approach hasn’t changed -- pay cash, save your money, write a clean offer, and be willing to put in sweat equity. **************************************** Website Updated – Bank Owned, HUD, Waterfront, Luxury, Investment, and more I just got word that many parts of my website were updated again – linked with photos and details about the properties. You can get access to so many things on my website, it really is a one stop shop for you. From my FREE e-books Buyers Guide and Sellers Guide, to articles about just about everything involved in a real estate transaction – its all here and its all free. Lots of GREAT DEALS out on the market right now. Several starter homes are priced less than $100,000, and some luxury home prices have been slashed again! There have been HUGE price reductions over the past few weeks, too, on amazing properties. My website *should* remember you, but if not, just re-submit your information so you can get access. See the updated list of Foreclosure Homes by clicking here, or go to: http://www.craigarmstronghomes.com/custompages_reports/g5381.htm. **Banks want to get these off their books quickly. Lately I’ve seen homes that are priced well having multiple offers on them, and those are the homes that are moving on the market. Call me ASAP since the best deals don't stay on the market long once the banks start slashing prices. Want to check out rental properties? There are many available that could cash flow very well for you. Or, maybe you want to get into a duplex – you live in one unit, and rent out the other side to help cover the mortgage. There are many rental property listings for you to see.
I’ve been to 3 closings in the past 3 weeks with buyers who found the home they wanted, and we negotiated a deal that was great for them. I’ve got room in my schedule NOW to work with another 3 buyers. Interest Rates are at an amazingly low level, home prices are incredible – this means your buying power has increased. The Homes Market is starting to MOVE. You should MOVE, too! ******************************* New Listing Data and Trends for the Twin Cities Metro Area ****************************** I DIDN’T WANT TO BOTHER YOU… It Isn’t Music To My Ears! There are a couple reasons this makes me shake my head after I walk away. First, It would never bother me to talk to someone about buying a house – it is WHAT I DO TO MAKE A LIVING. Does that sound selfish? Well, it’s just the truth. I work with buyers. I love to work with buyers. I do a great job working with buyers. And, the SELLER of the house pays me to bring a buyer for their house. That’s right – the buyer doesn’t pay me… the SELLER pays me. Second, when a buyer calls the agent off the sign in front of the house, that agent is technically representing the SELLER. It is difficult for them to represent both a buyer and seller to get the best possible deal for both sides – how can both the best possible deal? When a buyers work with me to buy a home, I represent their best interests. Third, it tells me I haven’t done a good job of letting that friend know to call me for any real estate related questions or needs. Referring other friends to me is a sign that family, friends and past clients know they can trust me to work hard on their behalf. I’m never too busy to take a call from a buyer or seller. Give me a call and let me know how I can work for you (651-436-2626) – I’ll make you glad you trusted me. Have a great week! |
Craig Armstrong | Mackaby Realty | 3121 St. Croix Trail South, Suite 100, Afton, Minnesota 55001
Phone: (651) 436-2626 | Fax: (800) 436-6090 | info@craigarmstronghomes.com
Site Map | Privacy | Admin Login
