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Best Realtor - Arizona Bill Cotter
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How to Make Money In a Depreciating Market... by Bill Cotter
How many times have you heard somebody say that they are trying to get rid of their real estate investment and that nothing is selling in Real Estate right now? What is your first instinct when you hear this? Well for 50,000 homeowners it seems their first instinct is to put their own home up for sell, but let me tell you that that is exactly oposite of the old cliche "buy low and sell high". Two years ago when the market was at the peak, it seemed that everybody was investing in a home. Now they are loosing tens of thousands of dollars because they are selling in a slow market. Doesn't it make sense that this is the time to buy a home and that the time to sell a is when the market is hot?
Properties are being discounted sometimes tens of thousands of dollars below the current appraised value. In a normal Arizona market Sellers get an average of 97% of their asking price. In the last few months I know of several homes that have sold for 20% lower that the current market value. On a $300,000 home that is over $60,000 in savings. When was the last time you saved $60,000? This is a unique opportunity.
The other day I was talking with my Real Estate Broker Dad who is now retired, but still invests in Arizona Real Estate. He found a deal where he negotiated several acres in Gilbert for $125,000 less than the last comparable sell. He negotiated the price down 29%. He found another enthusiastic investor to partner with him who is interested in putting up the money. Deals like this are happening in a time only like this. Don't be discouraged... it's just a matter of adjusting to the market.
Wether or not this is a bad market or a good market is really up to you. With the help of the right real estate broker you may find that this market is the opportunity of a lifetime.