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Pre Foreclosure Home Listings Article
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Contacting Homeowners Through Pre Foreclosure Leads
from:If you are considering buying a home through pre foreclosure leads obtained through a listing service or a real estate provider, it is important to develop an approach to speaking with the homeowner that is both positive and supportive. It is absolutely critical to keep in mind that this is a deeply stressful time for a homeowner that is likely facing foreclosure and developing a dialogue or introduction to your interest in purchasing the property has to be done with diplomacy as well as honesty.
Many homeowners, especially those that feel they have been mislead by lenders in the past, are often very hostile and highly defensive and mistrustful of anyone approaching them with "this is the answer to your financial problem" type sales pitches. When you obtain pre foreclosure leads, keep in mind that some people will be able to get refinancing, some will work with their lenders and not all are in dire financial situations. Approaching the homeowners from an interested and supportive stance is much more effective as they are less likely to group you in the category of untrustworthy or as being an opportunist to their misfortune.
Pre foreclosure leads can be contacted by several different methods. The cheapest and least intrusive to the homeowner is to send them a registered letter, letting the owner know that you are interested in purchasing their home. Using mass mail outs can also be effective, however this can be viewed by the owner as another ploy by huge companies that only offer discount prices for the home and property. By following up on only the pre foreclosure leads you are really interested in using a personalized, registered letter you may get more responses from homeowners.
Once the pre foreclosure leads have led to a response from the buyer, the next step is to set and appointment and meet with the buyer, typically at the property. If the buyer is seriously considering a short sale on the property, he or she will be willing to allow you to look through the property at this point. You should then obtain the information needed to speak directly to the lender, should you consider making an offer. Keep in mind that the owner may be unaware of current market values, so having some comparable sales information for foreclosed homes in the same area is very important. For owners this can be tough to understand if they value their homes at the original price, so you may want to provide this information to the owner before the meeting by mail to allow them to review this material privately and gain an understanding of the market.
Pre Foreclosure Home Listings News
Got Realtor Lock Boxes? Put Cash in Your Pocket, Sell Real Estate Lock Boxes ... - San Francisco Chronicle (press release)
Got Realtor Lock Boxes? Put Cash in Your Pocket, Sell Real Estate Lock Boxes ... San Francisco Chronicle (press release) According to CNN, a federal $26 billion mortgage settlement with America's five largest mortgage lenders will lead to a "flood of foreclosures" on the market in 2012. With these new foreclosure listings available for real estate agents and associations ... |
Despite Home Value Gains, Underwater Homeowners Owe $1.2 Trillion More than ... - MarketWatch (press release)
 Los Angeles Times | Despite Home Value Gains, Underwater Homeowners Owe $1.2 Trillion More than ... MarketWatch (press release) Foreclosure is not imminent for most underwater homeowners. Nine out of 10 continue to make their mortgage and home loan payments on time, with only 10.1 percent more than 90 days delinquent. - Many homeowners in negative equity are not deeply ... Negative Equity More Widespread Than Previously Thought, Report Says |
CNNMoney: Yuma to See 16.7% Increase in Home Prices - LoanSafe
CNNMoney: Yuma to See 16.7% Increase in Home Prices LoanSafe Yuma was ranked third in the list of “Where home prices are rising the fastest.” Yuma was listed with a median home price of $105000, which is a drop of 37.4 percent since the market peak, and a forecast price gain through 2013 of 16.7 percent. |
Some foreclosed homes going for dirt-cheap prices - Joplin Globe
Some foreclosed homes going for dirt-cheap prices Joplin Globe The St. Louis Post-Dispatch checked public records and found that some homes in the region are going for a small fraction of the price they sold for just a few years ago. Investor-buyers are combing the market for bargain-bin listings, ... |
Yuma to See 16.7% Increase in Home Prices - LoanSafe
Yuma to See 16.7% Increase in Home Prices LoanSafe Yuma was ranked third in the list of “Where home prices are rising the fastest.” Yuma was listed with a median home price of $105000, which is a drop of 37.4 percent since the market peak, and a forecast price gain through 2013 of 16.7 percent. |