Navigation Links
Homebuyer Fix-Upper Bargains Still Found By Skilled Investors
Date:6/14/2013

Minneapolis, Minnesota (PRWEB) June 14, 2013

The latest cities “Top 15 List” where homebuyers find fixer-upper bargains, according to a new RealtyTrac report, shows the Midwest dominates the list. Spring home buying season has brought sunshine to the housing market; low inventory is spurring bidding wars and multiple bid offers, putting Minneapolis real estate sellers in command. Fix-up home bargain hunters are told deals can still be found, according to the report. RealtyTrac gathered information on bank-owned homes built before 1960 and valued under $100,000.

"In order to present the best possible offer when buying a bank-owned fix-up home, homebuyers will want to be lender pre-approved for a home loan. This is best when competing with cash buyers. If a fixer-upper bargain is found, buyers must be prepared to act quickly and be positioned to sign a contract immediately, advises Jenna Thuening, owner of Home Destination.

With low housing inventories, home buyers open to consider fixer-upper homes "may find they are competing against fewer buyers and are able to buy at a lower price point," RealtyTrac reports.

Residential Finance, a nationwide lender, believes great opportunity awaits potential homebuyers willing to take responsibility for a home needing repairs. Advise abounds that consumers be aware of special financing considerations. "Fixer-uppers are fantastic, but consumers should educate themselves on the options available for loan financing, including rehabilitation loans. Not all loans will work to finance repairs for a fixer upper because the present-value appraisal of the deteriorated house can limit the lending options," says Brandon Davis, Ohio branch manager.

8 Tips For Fixer-Upper Home Bargains From Home Destination

1. Fix Up With Paint - When fixing up a home to resell, painting is important. Check with a painting contractor for recommendations of using semi-gloss paint through rental properties, which will make life easier for a tenant trying to wash the walls.

2. Hire Out Home Improvements - Delegate fix-up task to the right professionals. It may be easy enough to spend time working on one fix-up properties, but as the number of bargain homes a buyer takes on increases, the demands merit delegating the work by hiring it done.

3. Invest In Curb Appeal - Landscaping a home's front yard gives it "curb appeal" that gains prospective renter's attention and eagerness to make it home. The more inviting the front of the property is, chances of gaining a better tenant or buyer improve.

4. Gain Financing For Fixer-Upper Bargains - Consider FHA’s 203(k) home renovation loan, additionally termed the FHA rehab loan. It is known as HUD’s primary program for the rehabilitation and repair of single-family properties. The 203(k) loan is like a construction loan, with the first draw of the mortgage money going to buy the desired home. After that, draws are given to pay contractors for the renovation work until completion.

"Another great option is Fannie Mae’s HomePath program," says Keith Zabrocki, referral desk manager with Residential Finance. "A buyer can purchase a home with only three percent down and no appraisal is required. Both the FHA’s 203(k) program and the HomePath program have been instrumental in helping consumers purchase fixer-upper homes."

5. Pay Attention To Water Problems - Missing potential water problems can quickly add up to costly repairs. Moisture penetration may generate costly damage and fast. Check for pending water issues and place the "priority list".

6. Have A Manageable Plan - Many prospective homebuyers start with well-meat intentions to dedicate weekends and evenings to tackle the painting, cleaning, and fixing that is necessary to care for the house. A fixer-upper bargain may be a perfect investment for "handyman" homeowners.

7. Research The Homes Bones - The older the home, the better chance surprises will be unearthed when delving into the home's rehab. Nearly all older homes need updated insulation. Where fix-up budgets are slim, purchasing newer homes many mean only cosmetic repairs are required.

8. Set A Limit On Home Improvements - It is easy to get into the project and spend too much on home improvements for a rental investment home. Watching return on investment may mean sticking to basic material and appliance models.

To gain personal guidance from an experienced Minneapolis residential Realtor for buying a Twin Cities fixer-upper home bargain, call Home Destination at 612-396-7832.

Read the full story at http://www.prweb.com/releases/homebuyers-fix-uppers/Minneapolis-home-bargains/prweb10829819.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. BuyCheapBargains.com is Exceeding Growth Expectations in 2012 by 5000% and is Now an Amazon Reseller
2. Woman Who Let Powerball Winner Cut in Line Could Still Live Life of Affordable Luxury with a New Bathroom Remodel
3. Advanced Heart Failure Still Kills 1 in 3 Within Three Years: Study
4. Sunless Tanners Still a Tough Sell, Survey Finds
5. Water & Wastewater Treatment Equipment Market- Disinfection, Filtration, Distillation & Testing Analysis in New Research Report at ReportsnReports.com
6. DePuy ASR Lawsuit Update: Parker Waichman LLP Commends Judge’s Refusal of Appeal for New Trial; DePuy Still Must Pay $8.3 Million Verdict
7. Death rates decline for advanced heart failure patients, but outcomes are still not ideal
8. Americans Still Making Unhealthy Choices: CDC
9. Veterinarians Can Now be on Vacation and Still Book Appointments with VetWebsites' New Calendar Feature
10. More than one-third of Texas women still receive unnecessary breast biopsy surgery
11. Is Blunt Honesty The Best Policy? Queendom.com’s Latest Research Reveals That Tact Still Rules
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/26/2016)... ... May 26, 2016 , ... W.S. Badger Co. Inc ... honored with a 2016 When Work Works Award for its use of effective workplace ... national When Work Works project administered by the Families and Work Institute (FWI) and ...
(Date:5/26/2016)... (PRWEB) , ... May 26, 2016 , ... ... and clinical outcomes, hosted members and suppliers for its inaugural Member Conference at ... on their mission of elevating the operational health of America’s healthcare providers. , ...
(Date:5/26/2016)... ... ... Connor Sports, through its Connor Cares initiative, will continue to ... Legacy Tour that will commemorate the Indiana Fever legend’s hall-of-fame career and final ... and levels of the game, Connor Sports has committed to a significantly increased focus ...
(Date:5/26/2016)... ... 26, 2016 , ... The Woodlands at John Knox Village , Florida’s ... care for living and healing, celebrated its grand opening, today. The Woodlands at John ... provided by Empowered Staff. , “This is an incredibly fulfilling time for John Knox ...
(Date:5/26/2016)... (PRWEB) , ... May 26, 2016 , ... There are ... more than 32 million cancer survivors worldwide. On Sunday, June 5, 2016, communities around ... annual National Cancer Survivors Day®. , National Cancer Survivors Day® is an annual ...
Breaking Medicine News(10 mins):
(Date:5/25/2016)... According to a new market ... 4D), by Therapeutic Area (Oncology, Cosmeceutical/Plastic Surgery), by Application ... Manufacturers, Hospitals/ Clinics) - Forecast to 2021", published by ... for the forecast period of 2016 to 2021. This ... 2021 from USD 117.3 Million in 2016, at a ...
(Date:5/25/2016)... , May 25, 2016 ... Size, Share, Development, Growth and Demand Forecast to 2022 ... Insulin Pump and Others)" published by P&S Market Research, ... $9,998.3 million in 2015, and it is expected to ... on type, the insulin pump segment is expected to ...
(Date:5/25/2016)... , May 25, 2016 ... employing the precision of circulating tumour DNA (ctDNA) ... announces the appointment of Professor Clive Morris ... medical leadership across the clinical development programme, scientific ... products help deliver significant improvements in clinical outcomes ...
Breaking Medicine Technology: