The U.S. had experienced an unprecedented number of foreclosures in recent years and foreclosed Phoenix homes in particular. In Arizona the Median Sales Price had dropped over 50% from its peak in June 2006 and didn´t bottom out until the spring of 2009 - see Local Communities, Market Conditions current price graphs. Since then, there has been a significant increase in the number of sales as we worked through our inventory of homes. At this point the worst is behind us and the Phoenix real estate market has recovered. But there will always be Short Sales and Foreclosures in any market and it is appropriate to see if they represent a good buying opportunity versus traditional homes for sale in Chandler, Gilbert and Mesa AZ.
BUYER DEMAND REMAINS STRONG IN PHOENIX ARIZONA
There are tremendous real estate investment opportunities in Phoenix Arizona - providing a home can be acquired at a price that minimizes risk. A prospective homeowner seeking a property for personal use or Buy and Hold investor can acquire a property at current Fair Market Value well below their value just a few years ago, confident the market over correction has adjusted upwards and the normal Arizona price appreciation of 6-8% per year will resume in the future, just as we have seen over many housing cycles. Arizona remains one of the most popular destinations in the country and enjoys strong buyer demand which should continue as long as it snows in the north.
Buyers with cash and/or a shorter time horizon need a hedge against market risk and that is what buying homes below fair market value at Trustee Sale provides the savvy, well funded buyer.
REO AND SHORT SALES ARE SOLD AT FAIR MARKET VALUE
Bank Owned, REO, Short Sales and foreclosed Phoenix homes are selling at or very close to Fair Market Value - but discounted based upon condition. While buying property at today's low Fair Market Value is a great opportunity for a buyer purchasing their personal home or a Buy and Hold Investor. But buying at Fair Market Value doesn't work for a Fix and Flip investor. When 1) buy and sell expenses, 2) carrying costs, 3) repair costs, 4) a modest profit margin to warrant the time expended and 5) capital risk are added to the acquisition price of the property, it is clear Fix and Flip Investors have to buy at a deep discount to Fair Market Value to survive and prosper.
Fix and Flip Investors provide an essential service to home buyers who seek an affordable home that has been cleaned up, repaired and remodeled - often with high-end features as granite counters, tile floors and stainless steel appliances. The average home buyer does not have the money, time, expertise and experience to tackle a project like this. They transform the ugly house no one wanted into a desirable home and stabilizes our communities.
TRUSTEE SALE - RISK REDUCTION & FULL INVESTOR SERVICES
As with any Phoenix investment with such great profit potential, there are risks involved and you need my professional services to assist you in identifying those risks and guide you through this process to minimize the risks and time investment by providing all aspects of property research, title research, bidding, deed recordation, securing the property, rehab, real estate sales and property management.
Investors outside of Arizona are able to invest in and profit from Trustee Sale Buy and Hold or Fix and Flips without ever being in Arizona or seeing the properties they purchased unless they want to. Every detail can be managed remotely with confidence of execution.
Step 1: QUALIFICATION
You need to qualify to become a Trustee Sale Investor. This is not for everyone. Trustee Sale Investors must deposit $10,000 into a trust account to participate in the program and be able to bid on a property at a trustee sale and have the full cash purchase amount to wire to the trustee in less than 24 hours of Bid acceptance to close. Monthly website usage charges are waived when investors deposit into the trust fund the initial $10,000 required to bid at Trustee Sale.
There are substantial gains to be made buying a property through a foreclosure auction, but it is very different than any other type of property acquisition that you may have experienced in the past. Some have tried this on their own but have lost significantly because they did not understand the risks and how to mitigate them. Contact me or call Sam 480-213-1799 for assistance.
Step 2: RESEARCH
There are a variety of research tools to assist you in determining the best foreclosure investment opportunity for you based on your personal investment criteria. You will be provided a daily list of properties to be sold. These properties have been pre-screened through our proprietary system to best determine those which most likely have the greatest probability of return. Our services include drive-by reports with photographs, an estimate of repair analysis, and guidance in the selection and bid process. In addition the title company will provide a preliminary title examination to reduce the risks associated with the fact that title insurance is unavailable at the time of the bid. The initial title examination will determine the position of the Note being foreclosed.
Step 3: BIDDING
You will place your bid funds into our Broker Trust Account in the amount of $10,000 for each property you wish to bid on. Trustees require a $10,000 cashier's check be handed to them at the time a bid is won with the balance of the purchase price to be delivered within 24 hours. In the event the bidder does pay the balance the following day, the $10,000 is forfeited.
After you have determined which properties you wish to place a bid and after the title company has completed their preliminary title examination, you will make the final determination whether to bid on the property. Once you decide you want to bid, bidding will be done for you on your behalf and the $10,000 cashier's check will be presented to the auctioneer for each successful bid. The investor is immediately notified of the successful bid so that the balance of the funds may be wired in to be delivered to the trustee, which completes the purchase. After the successful bid and before the balance of the purchase price is delivered, a full Title Examiner Search is ordered to give further assurances as to the quality and marketability of title to further protect your investment.
Step 4: AFTER THE SALE
While the Trustee's Deed is being prepared for you, we assist in securing your property through the re-key and "trash out" process.
You will also be provided with the services of professional licensed contractors to aid you with any necessary rehab and preparing the property for resale. Your home will be listed and put back on the market the day the rehab is completed.
If your investment objective is to buy and hold, I will arrange required property management services.
When the Trustee's Deed is received you will obtain title insurance and have the deed recorded at the Maricopa County Recorder's office by the title company. The deed will be recorded and vested in your name or your company's name per your instructions which completes the sale.
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