Monday, April 21st, 2008
Grand Rapids Foreclosures and Short Sales
This afternoon I had a call from one of my past clients and she asked if I help people find foreclosures and short sales. I want everybody to know that I do. With 52% of the sales on the Grand Rapid Association of Realtors in March being foreclosures and short sales, I would be remiss if I didn't help buyers find great deals in foreclosures and short sales. As a buyer you have to be careful, because not all short sales and foreclosures in Grand Rapids are great values. One indicator is if the price of the house is less than the assessed value. When I say that I am talking about the value the taxing authority places on the house. The general rule of thumb is that the house is roughly twice the price of the asses
sed value. Let's say the assessed value is $50,000 the approximate market value is generally around $100,000. You know you found a good deal worth atleast looking at if the house is for sale for less than $50,000 assuming the same $50,000 assessed value. That is the first step if you are looking for value properties in Grand Rapids as investments that will take $10,000-$20,000 of work.
This advice is informational only provided by http://www.DreamHomeDozeman.com/ Ethan Dozeman 616-301-6766 or 1-866-393-0366
