The past two blog posts have been dedicated to thinking outside of the box and using creative real estate solutions for home sellers who are having a tough go at selling their homes in the Tallahassee real estate market. Yesterday, we posted two riddles and asked readers to respond with the correct solution, and “Bill” [...]
Creative Real Estate Closeout
The past two blog posts have been dedicated to thinking outside of the box and using creative real estate solutions for home sellers who are having a tough go at selling their homes in the Tallahassee real estate market. Yesterday, we posted two riddles and asked readers to respond with the correct solution, and “Bill” [...]
Keep Reading...More Creative Solutions To Your Real Estate Problems
Yesterday I posted some riddles and asked if our readers could solve them (click here to visit yesterday’s real estate blog). I was pointing out the parallel between these tricky riddles and the daily problems that home sellers in our struggling real estate market face every day. Both require creative thinking (outside of the box [...]
Keep Reading...Outside The Box Real Estate Solutions
I received a great newsletter from a friend, David Rich, who included a few “thinking outside of the box” riddles that made me see a parallel between what we are doing now to help people sell their homes and solving these riddles. When the housing market is balanced (supply and demand are at equilibrium), it [...]
Keep Reading...Home Sellers Scramble For Reduced Buyer Pool
Home sellers are competing for an increasingly smaller pool of homebuyers, and our recent housing market reports are providing proof that the market is going to be tough going for home sellers for some time to come. In case you missed yesterday’s blog on the rapid growth of foreclosure sales, it is worth a review. [...]
Keep Reading...The past two blog posts have been dedicated to thinking outside of the box and using creative real estate solutions for home sellers who are having a tough go at selling their homes in the Tallahassee real estate market. Yesterday, we posted two riddles and asked readers to respond with the correct solution, and “Bill” was the first to respond with both correct answers.
The correct answers for our creative real estate riddles were:
- He was a lighthouse keeper.
- The other three were women.
So, thanks Bill and everybody who commented and emailed their answers to us.
Creative Solutions For Homebuyers
While the past two blogs focused on techniques that home sellers could use to get their homes sold today, they all have one thing in common. They are ways to increase the number of prospective buyers for their homes. The reality of the market is that there exists far more home sellers than homebuyers, thus anytime we can give a home seller a competitive advantage by making their home “more available,” it can lead to a sale.
The methods we use to increase the number of buyers usually work on “fixing” the problem of marginal credit for homebuyers who want to buy a home but are not currently in a position to get a bank loan (or a large enough bank loan).
The simplest example of a creative real estate solution is when a home seller “holds paper” as part of the transaction. Perhaps the buyer has some cash and can get a loan from a bank for only 80% of the value of the property, then the seller holds a second mortgage for an amount equal to 20% of the purchase price.
Another technique is to have a buyer and seller agree to a sales price, but with a closing date far enough into the future for the buyer to qualify for conventional financing. During the interim, the buyer can lease the property from the seller in a creative real estate solution that is called a lease purchase agreement.
There are so many creative solutions available for homebuyers and sellers that all it takes is some preparation and time with a real estate expert in your market area. It never hurts to sit down with somebody that you trust and that you know has plenty of real estate experience, so don’t wait for the buyers’ market to go away!
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