Where Real Opportunities Are In This Market: Our Case Study

August 26, 2009, Writen by: Chris Anderson, Ph.D

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I know we have been silent for a while here at NoBullRE.com. Quite simply, we have been busy doing real estate for our own accounts. Depending upon your location, you may be sitting on a small gold mine and don’t even realize it. In this upcoming series of articles, we will be providing an overview of what we are finding in our own market: Tampa, Florida. From the discussions that we are having with others around the country, you may find your market to be similar (and profitable).

So, over the next few days, here is our list of topics:

  1. How We Are Getting 2-3 QUALIFIED Buyer Showings PER DAY, PER HOME.
  2. The Unspoken Market….Where To Find 100’s Of Buyers
  3. The Investor Myth: Why You WON’T Get Real Homes At 50-60 Cents On Dollar
  4. How You Can Safely Profit From Us (And Probably Others)

We are getting ready for a big house sale in Tampa so I will do the best I can in getting this material out on a timely basis. However, we believe that for many of you around the country, it is important to learn from what we are seeing on the streets daily. Hopefully you can learn from our experiences and then profit.

How We Are Getting 2-3 QUALIFIED Buyer Showings PER DAY, PER HOME

Ever single day, I get 2-3 calls from realtors wanting to show our homes to first time home buyers in Tampa. So what is our secret? Let’s explore the possible reasons:

  1. We Are Selling Dirt Cheap To Home Buyers: No, list price is 92% of fair market (and appraised) value;

  1. We Have Spent A Ton Of Money Upgrading This House: No, our total rehab cost were $9,2000 and consisted mostly of painting, flooring, small repairs,

  1. We Are Paying Extremely High Commissions To Realtors: No, we offer 3-4% to selling agents, just like everybody else in town;

  1. Our Internet Marketing Is Dominating The Area: No, although we are big on internet marketing, it plays very little role in the area with simply listing on MLS the dominate factor.

Give up yet? Boy, this would be the perfect place to pitch a brand new course and all you have to do is pay XXX to get our wonderful secrets….. but I will make it even easier for you:

THERE IS REAL MARKET DEMAND FOR THESE HOMES

Let me explain. As we started to do our homework around Tampa and meeting with realtors, we kept hearing the same story, over and over again:

  • 80-90% of the for sale market is short sales & bank REOs;
  • New first time buyers just want to buy a house, not wait 6-9 months on a short sale or have to pay cash for a bank REO (and then fix it up);
  • Almost all other properties actually for sale by owners are priced too high because they are upside down

Simply put, if you have a decent house, in move-in condition, and not a short sale, it will get traffic (in the right areas). One thing that most people don’t realize is that there is a good volume of people out there that did not own property in this latest RE crash. These first time buyers are sitting pretty and just licking their chops to find a good home and be able to buy for less than they are paying in rent. Realtors in Tampa are telling us that this is the best market they have seen in 3 years. All the while, the newspapers are still full of gloom and doom.

So, here is a tip for you. If you are interested in an area or even an investment property that somebody is trying to sell, call three realtors and tell them you are considering acquiring a property and turning around for resell. Talk to them about the market, realistic prices, etc. You may find out that you have a great opportunity already waiting for you.

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Comments

One Response to “Where Real Opportunities Are In This Market: Our Case Study”

  1. Antwan Stevens on August 26th, 2009 12:00 pm

    You guys Rock, thanks for always adding value to the Real Estate community. I’m aware of what your capable of, but I don’t thing my team is so when you get a chance I would like for you to share your expertise with my team/group, thank you. Keep up the good work.

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