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Evaluating Charlottesville Foreclosures Correctly by www.CharlottesvilleForeclosures.org
Buying in Charlottesville?
A couple of years back, making money on Charlottesville foreclosures was like hitting water falling out of a boat – but not anymore.
With the Charlottesville home market changing like it is, you can no longer look at the “solds” to assess a property’s value.
You must look at the “solds”, then look at the “actives” to get a sense of not only the price points, but the direction of the market.
You have to know what you are doing.
Pay close attention to the “solds” to see where the market has been, but also look at the “under contract” and “actives” to assess the direction of the market.
If there are lots of “actives” in a particular Charlottesville subdivision and they have been hanging on the market for some time, it goes to show you that the comparable sale of six months ago really does not apply.
Too frequently, newbie Charlottesville foreclosure investors count on electronic records to give them the value of the properties.
They don’t look closely enough at the comparable Charlottesville foreclosure properties (they don’t physically look at them to gain a real sense of area and other features – this is important in today’s market).
When buying homes in Virginia, we always drive the comparable properties and then compare the block, curb appeal, size, and other factors of the homes to arrive at a value that we feel comfortable.
Do not solely rely on information from the CAAR MLS system.
When turning up for a viewing, show up 45 minutes early and drive all the comparable Charlottesville properties.
Pay special attention to the properties and how they compare to your subject
property.
Doing this, on arrival at your chosen property, you will have a good idea of what foreclosures in Charlottesville Va are really worth compared to the other properties in the neighborhood that have sold and are active – this will help you tremendously in pricing it correctly when you go to sell or do a Charlottesville lease option.
Charlottesville investors should be familiar with their local CAAR MLS system and get used to running the comparisons
Far too often, Charlottesville Virginia foreclosure investors rely on the value we” (Charlottesville real estate agents or appraisers) place on Charlottesville foreclosures.
Over the past few years, appraisals have come back quite rapidly in some instances.
As a prudent Charlottesville Va foreclosure buyer, you need to scrutinize and analyze what is given to you by “us” agents – do not just take it as read
The last few years have thrown up a lot of poor valuations
Build your experience up at comparing properties to ascertain a fair market value without help. We will go over them with you three times initially.
We put a lot of time and effort into finding Charlottesville foreclosures so we do not want to just put them up for everyone to see. If you like what you see, you’ll be asked to sign a Virginia Buyers Broker Agreement and work with me to find the right Charlottesville foreclosure or short sale.
877-855-7913 or 434-563-6636
Homes@CharlottesvilleForeclosures.org
We’re the leaders for Charlottesville foreclosures. Please drop us a line to discuss your Albemarle real estate needs.
www.CharlottesvilleForeclosures.org
Our specialty is Charlottesville foreclosures so welcome aboard!
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