No Worries - Investors aren't the "Big Bad Wolf" of real estate!

We all have preconceptions, its a fact of human nature. Sometimes they can be accurate, and other times they are FAR from the truth.

One thing we've heard more than once is the idea that real estate investors (like us) are nothing more than greedy evil people out to take advantage of unfortunate homeowners. Personally, this notion really gets our feathers ruffled. Sure, there are a few slime-balls out there who have pulled terrible heists on unsuspecting home owners and padded their own pockets at someone elses expense. Its a shame these few bad apples have ruined the whole lot for the rest of us and in some cases soiled our profession's good name.

Most real estate investors, from ourselves to our many peers throughout the city, state and country, are ethical and honest people. Ask any investor at a local real estate investing group and its likely that one of their top reasons for getting into "the business" is to actually HELP people. Swindling is absolutely not on the list. Doing things like helping distressed owners out of sticky situations, providing safe and affordable rental housing, trying to boost the economy out of its housing crisis and helping people buy the home of their dreams all give us a huge sense of satisfaction from our work. Most real estate investors truly want to make the world and their cities a better place to live.

So, what if you are one who already has the idea that real estate investors are just "Big Bad Wolves" coming to your house to blow you over and gobble you (or your house or your money) all up? Our best advice: Shop around and ask around. Talk to more than one investor and/or investment company and choose one that you feel comfortable with. You should absolutely feel at ease with the entire process! Feel free to ask for references from other investors or previous clients, and you can also contact some local investment groups to inquire if the investor you've chosen is a member in good standing.

Don't let the stigma wrongly attached to some real estate investors prevent you from reaching out to one when the time comes to sell a home. We like to think of ourselves more as real estate super hero's, swooping in to save all your real estate problems in one fell swoop. Just don't be surprised if we show up at the closing table with a red cape on our backs!

For more information about selling your home, visit REstore Property Group online.

How do foreclosures affect my home?

Turn on the media for any amount of time and you will undoubtedly hear that this year the real estate market will suffer a huge wave of foreclosure properties flooding the market. If last year's trend tells us anything, more foreclosures are not going to bode well for our economy making a comeback.

But what does this mean for you if you need to sell your home this year?

Foreclosures can affect the selling of your home in two major ways. The first is through sheer numbers, creating an even larger number of properties in an already saturated market. The second way is they can sometimes drastically decrease the values of homes in your area, especially if there are foreclosure properties in your own neighborhood.

For the last year and for a long time to come in the future, real estate nation wide has been a "buyers market," meaning there are more properties for sale than there are people who want to buy them. This creates very choosy buyers who spend a long time looking at multiple properties, comparing them and looking for the best home their money can buy. A wave of additional houses adding to those already for sale is like adding fuel to an already very hot fire. Homes may sit, waiting for a buyer, for even longer periods of time while the potential buyers shop around and spend time chasing after these supposed foreclosure "deals."

The fact that foreclosure properties are generally perceived as deals leads to the second problem for home sellers. The banks that own these foreclosed homes do not want to keep them in their inventory, and price the houses to sell quickly and usually well under market value. This means that other homes for sale in the area must now compete with lower than average priced homes. Many home sellers are forced to lower the prices of their own homes in order to attract more buyer interest, which then leads to a domino effect of other homes in the area lowering their prices as well. It may not be long before entire neighborhoods, zip codes or even cities in some cases have lower home values than only a year before, due in large part to foreclosed properties.

If you live in an area with a high number of foreclosures, you may want to consider waiting another year or two before selling your home to let this current wave pass. It will not stay a buyers market forever and home prices will not take a downward slide for too long before bouncing back. Those who are able to wait it out will find themselves selling in a much better market for a much better price only a few years from now.

visit REstore Property Group to find out more about selling your home