Investors Looking Beyond Central Texas Foreclosure Properties
Competition and high prices lead to a market shift for smart investors.
News of the rise in the number of Austin and San Antonio foreclosures can be seen everywhere you turn. The local paper, the news, and even online. The perception is that there are all these super deals to be had as people lose their homes to foreclosure.
So what happened? Why are Central Texas foreclosure listings no longer the great deals they used to be? Lots of factors have lead to this but primarily high competition among investors have has lead to the price of bank foreclosures going through the roof.
This of course leaves very little spread between the purchase price at auction and the potential resale full market value when the investor goes decides to resell the home. At the end of the day, investing in typical foreclosed homes is often times a losing venture for investors.
So what will be the next gold rush among Central Texas investors? This is likely to be in wholesale properties and pre-foreclosures. Wholesale properties are homes being sold by other investors who have over extended themselves, either in time or resources. They've acquired a great property but just don't have the time or money to see it through to a sale at full market value.
There is an underground market among investors who buy and sell these properties to and from each other. The only potential problem is finding a list of these deals available. I'll tell you where you can find them though, in just a minute.
Another type of property that's profitable lately are pre-foreclosures, homes where the owners need to sell quickly to avoid foreclosure. As such, these homes have not quite made it to the Austin or San Antonio foreclosure lists and have not been scouted by hundreds or thousands of investors. And less competition among investors means more potential profit for you.
Our website, MyHouseDeals.com, is the most frequently updated list of Central Texas wholesale and motivated seller properties online today. But we don't stop at providing a basic list of properties for our members., Wwe actually provide all the details our members need to make smart decisions about which properties best fit their investing goals. Information like mortgage payoff amounts, potential resale value, estimated cost amount that of repairs will cost you, neighborhood information and photos are all there for you.
The best way to see the full potential is to give it a try yourself. To get a free trial of MyHouseDeals.com just click the button below. You'll be given access to the full live site that our members use everyday. Who knows, you might even find your first deal during your trial period.