When You Live near Foreclosed Homes in Summit County

You’re a responsible homeowner.

With your mortgage and other home-related bills paid on time, you have definitely taken your investment seriously.

In addition, you’ve been fortunate to be able to stay current on your debts. Many other owners have not been so lucky.

But now that you want to sell your house, you’re finding a number of foreclosures in your neighborhood.

This may make you feel terrible because your home value could be negatively affected. It can seem very unfair that even though you’ve kept up on your mortgage, you might not get a price that satisfies you when it’s time to sell. However, today’s reality is that foreclosures are part of the real estate picture.

The good news is that while foreclosures still exist in Summit County, they’re not nearly as big of a stumbling block as they were in recent years. In fact, all signs point to single family homes going back to pre-recession levels.

But if you’re seeing lots of foreclosures in your neighborhood, there are steps you can take and strategies I can help you take advantage of as you prepare to list your home.

Marketing Matters 

Although it’s true that a foreclosure in the area may bring down home values, that doesn’t mean you shouldn’t put your house on the market. The truth is that your home could very well offer lots of great things that the foreclosure down the street can’t match. The trick is to use these qualities to market your house successfully.

It’s essential to focus on all of the positive aspects of your home. This includes stating that your house is immediately ready for new owners to move in on their timetable. Plus, you can negotiate a closing date much faster than a bank.

Typically, a foreclosure is not in as good of a condition as a home that is well-maintained by the owner. Of course, this isn’t always the case. But people who are on the verge of foreclosure tend not to care as much about keeping their home in the best shape. They’ve got other, more pressing concerns on their minds and rightfully so.

Stressing the many benefits of your home may make you stand out from nearby foreclosures. That’s something I can help you accomplish when we put a listing together. 

Foreclosures Can Cost More

Another tremendous advantage to you is that foreclosures are sold “as is” to buyers. This means new owners have no guarantees when it comes to condition.

So the low price of a foreclosed home may seem appealing on the surface, but lots of work and thousands of dollars might have to be invested in order to bring it up to the standards of your home. Therefore, your house may actually be cheaper in the long run than a foreclosure.

Buyers who show interest in your listing will also have a much clearer understanding of the pros and cons of your home. Disclosures and other information is more available through you than through a bank.

In addition, a potential buyer, who is serious about your house, can negotiate the price and even some repairs. That’s not the case with the bank. Again, foreclosures are “as is” purchases so buyers are in no position to get items fixed before signing on the dotted line.

While foreclosures may bring your value down, there are ways to work around this obstacle. Let me show you how I can help you get the best deal on your house.

Want More Information?

Whether you want to sell your current home or you’re interested in buying a new one, I’m available to assist you every step of the way.

Feel free to contact me at your convenience. You can fill out my Information Request Form, send me an email at [email protected] or call my office lines. Please know I would love to assist you in any of your real estate needs.