The Sunshine State’s stormy housing market has a silver lining for those lucky ducks who play the game when others get rained out.
Sanford, FL (PRWEB) April 18, 2007 -- Experts predict that up to 3 million American homes will enter foreclosure in 2007, and Florida ranks as one of the most foreclosure-prone regions in the entire nation. And while location is everything in the real estate business, locating properties at the right time is the key to foreclosure investment success.
“Investors make their money when they buy, not when they sell,” explains Sean Flanagan of Flanagan Properties. “In other words, they have to buy at the right time, and at a really attractive price.”
Flanagan’s small Florida-based real estate investment company has managed to bank handsome profits while most real estate companies have faltered. He employs an agile combination of strategic timing, hard work, research, and a win-win philosophy that benefits not just buyers, but also sellers who need a fast remedy to avert a deepening crisis.
"While the big companies are listing houses that just languish on the market, we purchase properties from motivated sellers whose primary goal is to sell quickly to avoid further trouble.”
An investor who follows a similar strategy was featured in a cover story in the August 2006 issue of Forbes Magazine, because he got rich buying distressed homes in wealthy Miami neighborhoods. He picked one up for $550,000, did $150,000 worth of repairs, and turned around and listed it for a cool $1.1 million.
While foreclosures are typically caused by unexpected personal tragedy such as illness, job loss, divorce, or death of a family member, that is not necessarily the case today. Ironically, a significant percentage of those facing defaults are homeowners with relatively good credit and white-collar jobs.
Consider these facts:
- Many consumers used high-risk loans to buy into the recent bull market. Their monthly payments have spiked while the value of their homes has plummeted, leaving them owing more than their property is worth.
- Builders are stuck with a massive backlog of inventory. To lure buyers they are cutting prices, which puts downward pressure on the entire market.
- Homeowners have nothing to fall back on. The savings rate for American households is the lowest it has been since the Great Depression.
Using a catchy advertising slogan “Lucky Buys Yucky Houses”, Flanagan finds his own bargains and avoids Realtor commissions entirely, saving a serious chunk of change for both the seller and himself.
Lenders burdened by vacant foreclosed properties have to pay for taxes, insurance, and upkeep, and usually prefer to cut their losses. If investors like Flanagan have cash in hand, homeowners may be rescued in the nick of time. They lose a house, but preserve their credit to start over fresh.
Media Interviews Available
For more information please contact:
Sean Flanagan, Flanagan Properties
Phone: (407) 927-3842
Or visit the company’s Web sites at:
www.luckybuysyuckyhouses.com
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