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No matter what you buy, you get what you pay for! Cars, food, office supplies and homes - no difference. Even though price doesn't necessarily equal quality, there is a lot to be said for quality for vs. Price when it comes to real estate pricing. Here are some tips on how to compare quality homes vs low price homes.
In today's economy Wholesale Brian O'Neill Jersey , almost house in the U. S. Has been hit with a significant devaluation. It doesn't matter if the homeowner is upside down on his mortgage or not. All homes are worth about 25% less than two years ago.
And these are homes that are being maintained, lived in and paid for. What happens to homes that are foreclosed on and abandoned? These homes usually sell for pennies on the dollar for a number of reasons, and the most important one is that the homes have been vandalized. Frequently, the damage was done by the previous owner before being evicted.
This type of senseless vandalism brings the value down to a point where, on paper at least, many prospective buyers see this type of home as affordable and tend to focus on finding these properties to bid on.
However Wholesale Daniel Carlson Jersey , even though these low priced properties might even be found in what is still considered desirable neighborhoods and developments, and the homes themselves may have originally been built with plenty of above average detailing and quality, they no longer in that classification. They are ruined.
These previously quality built homes are now going for some almost unrealistically low prices simply because they have been stripped of whatever worth they had by owners or even vandals who gained entrance to the homes while they stood vacant waiting to be sold again.
If buying a home in this condition isn't something that interests you, then you do need to focus on only homes that have retained their quality through the sales process. Normally, these homes will be found through private sales and perhaps short sales. Since these homes are usually still being lived in by the present owners you have a better chance of buying quality and getting a decent price based on today's market (and what lenders now view as the true value of the home).