Top Markets to Find Fixer-Uppers
According to Realty Trac, the housing industry is primed for fixer upper opportunities. Low inventory of available homes for sale has led to a seller’s market. In a typical seller’s market you will find reasonable inventory available for high buyer demand. In this case, buyers have very little inventory from which to choose.
Because of low inventory, buyers are having a difficult time getting deals in top markets. However, there is an option to pursuing “the dream house” that you can’t buy. You can purchase one of the “fixer uppers” on the market. The converse side of this unique market for buyers is that fixer uppers are not in as much demand as the “dream home.” While buyers rally around ready-for-life homes, and sometimes pay more than those homes are worth, less-appealing fixer-upper bargains maintain depressed prices. This positions those that are in the market for fixer uppers in a great position to get a desirable deal.
Picking the Right Bargain
Be sure you are knowledgeable about the repairs that need to be made and the amounts they may cost. Some fixer uppers may take time to rehab but are still worthy of your attention. Others may not be. Beware of foundation problems. Some fixer uppers are money pits and should be avoided. Take an experienced contractor along to differentiate between homes worth fixing and homes that are not worth the time and money.
Having the most capable real estate team “on the job” is essential to locating the best bargains in the area to which you want to move. Contact the Zwahlen Team for information on fixer uppers in the San Ramon Valley area.