Are you getting in on the Short Sale Deals

I recently showed 12 homes to a client in the $150-$200 price range in Fountain.  Out of the 12 homes at least 9 were either short sales or foreclosed properties.  Don't miss the boat on these deals.  The home that my client finally decided on was a home built in 2007 and selling for about 30K less than most homes in the area.  Just remember that short sale properties can be difficult. Their are 3 things to know if you are considering purchasing a short sale property:

1. Make sure your realtor knows the market and knows how to handle a short sale, becuase of the difficulty of short sales most realtors will stay clear of these properties. 

2. You need to be flexable with your time.  Short sales can take 2 weeks all the way to 6 months to finalize.

3.  Don't get your heart broken, some short sales will not work out.  Some banks will not accept a lower price on properties or will not accept the price that you are offering.  Remember it is up to the bank to settle on a price. 

Take the opportunity to research these great deals but be well informed and let your Realtor help  you out.