subject: Smart Real Estate Investing In San Clemente Short Sales [print this page] Smart real estate investing in San Clemente short sales does not mean securing the first short sale offer that comes along. This type of housing transaction is tricky, complex, and difficult to understand for many. On the surface it seems like a great deal: buy a home from a distressed owner or lender, who is merely wanting the home occupied so badly that they price the home under its true market value. Sounds like a win, right? For many it is. But for those with the wrong agent working for them, it can quickly turn into a nightmare of fees and costs that drive the overall payment price tag up past market value. As a rule, you should never, ever buy a short sale that you can't make money on. Your ability to profit from it should be as inevitable as death and taxes.
But how can you make that happen, especially when the lender or seller is unwilling to consider your terms in the deal? First, you've got to have the courage to walk away and the patience to wait for a deal that favors you. Secondly, you need an agent, who understands the complexities and can put you in the position to be the leader of the transaction rather than the follower. While you may have heard that short sales are so competitive you may not get a crack at countering if your original offer is unacceptable - and that may be true - agents understand how to keep you winning.
The San Clemente area was affected greatly by the 2008 housing downturn, and many of the short sale homes that resulted as fallout are still on the market. But as the real estate market continues to improve, they are disappearing, and with the presidential election in the balance, it is expected that several more could go off the market by 2013. While you will want to consider getting into the short sale game, you have to proceed with caution when doing so. Make sure that you are smart about it, and that means investigating the true value versus what the seller paid and what the lender is hoping to get out of the property.
Special fees and taxes may be unavoidable when it comes to closing the loan, so it's important that the price you get on the property is far enough below value to still have you coming out ahead. A good agent will make sure that you are always looking ahead so you avoid getting overzealous on a property. The ability to walk away and move to the next deal will enable you to win the San Clemente short sale game and continually improve your profits.
