Why a Short Sale may be the Best Buy for You

While you may have heard only the horror stories about buying short sale properties – or any distressed housing for that matter –  the reality is there are actually several advantages to purchasing this type of property. In popular areas with hot real estate markets, many would-be buyers are adding short sales to their property searches to expand their options. Could it be the right step for you? Read on to find out.

Why buy a short sale?
First, the most obvious reason. Buyers generally go for a short sale for the same reason that any buyer anywhere wants to buy a particular residence: because genuinely they like the home. It’s simple but true. The fact that it’s a short sale might complicate the issue a bit, but the motivating factor is still the fact that they like the home.

Another reason is that the lower price of a short sale makes it worth the hassle. Who doesn’t want a good deal?  There are sometimes bargains to be found shopping for a short sale.

Reduced competition: another great reason to consider a short sale.
Short sales can take a while to finalize, and many house hunters aren’t willing to wait. That means that there are fewer people you need to compete with to buy the home. In areas where there a lot of demand but limited supply, bidding wars can drive up prices, so less competition can mean a lower price.

If you’re considering purchase a short sale, the first thing you want to do is get an experienced professional on your side. Someone familiar with the process can help you navigate the waters and make the process as smooth as possible. Metrowest specializes in these types of sales – and we’d love to help you get started!

Ken Blevins

About Ken Blevins

Ken Blevins, CEO of Metrowest Real Estate Services, is a veteran in mortgage and default servicing with more than 24 years of experience in collections, foreclosure/bankruptcy, loss mitigation and real estate disposition (REO). Blevins was an original co-founder of Metrowest in 2003, a Real Estate Brokerage and Services Company focused on the resale, recovery and liquidation of distressed real estate in Denver, Colorado and surrounding metros. Blevins assumed the role of CEO in January 2014 and provides strategic direction and has management accountability for the day-to-day operations. Under his direction, Blevins drives all default management operations to maximize asset value recovery and reduce loss severity through a strategy focused on customer service and state of the art technology. Blevins has 18 years of direct operational experience in all facets of REO Asset Management having managed large national REO Disposition contracts for Fannie Mae, Freddie Mac, Wells Fargo, JP Morgan Chase, CitiFinancial, GMAC Mortgage and other various financial institutions. Blevins specialties include REO asset management, real estate investment, bulk REO acquisitions and distressed asset recovery and liquidation, and he has directed the resolution and liquidation of over ten billion in institutionally-owned residential real estate.

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