Where are the BEST Deals?

Everyone has been hearing over the past couple months it is “such a great time to buy.” “You have got to buy now.” “It will never be a better time to buy.” Ok, so we know there are great deals out there and it is a great time to buy. There are tons of deals out there, but where are the best deals?

Many consumers have recently been looking for short sales and foreclosures. These are terms no one really knew or heard about in the years past. But now these words seem to be plastered all over the media and real estate related news. Bank owned properties can be very good deals – but not always. They are often priced just as if they were a regular house on the market. Past owners often destroy the property before leaving. Short sales can be good deals. These are properties that are being listed for a price less than what is owed on them. The sellers and bank are usually pretty motivated on these sales and just trying to make the sale come together. This usually helps both parties by skipping the actual process of going through a foreclosure. Bank owned properties and short sales are great deals when the banks or owners just want to get rid of them and prevent sitting on them for too long.

Some of the best deals in Truckee right now are new construction homes. There are quite a few spec homes currently listed in the Truckee area. It is very unfortunate for some spec home builders in the area who are anxious just to get rid of some of the homes they have built. Building costs in Truckee have gone up so much this year that there is not a lot of new home construction projected for the next couple years. The homes that are brand new right now will likely still be some of the newest out there in the future.

The price range with the best deals right now is the upper ranges like over $1 million. Most homes on the market right now are discounted to some extent and will likely be worth more in a few years. If all homes are discounted around 10% right now, then homes in the $500,000 range are currently discounted by $50,000. Homes above the $1 million range are discounted by $100,000. That means that homes in the upper price ranges have more potential to be worth more in the future.

There are tons of great deals to be taken advantage of right now. Many properties are decent values, but some are exceptionally good values! These are just some places to start searching for investment opportunities and I’m sure there are many more!