Short sales can make you a lot of money very quickly, even in today’s topsy turvy real estate market. In order to capitalize, you need to stay abreast as to what is happening in the present, and what changes are to come. With the downturn slowly turning around, and the 2012 numbers indicating an optimistic future for home purchasing activities, you could be running out of time for taking advantage of short sale homes in the Laguna Beach real estate market. By the time the November elections roll around, you will need to have your ducks in a row, or you could stand to lose out on all time low interest rates and home valuations. So here’s how you should be picking well priced short sales now for your investment portfolio.
1. Get a second opinion
If you know anything about the real estate game at all, you know how vital a real estate agent can be to your cause. That’s why before even forming a first opinion, you need to be getting a second from one of the professionals in the industry, who truly knows what is going on in Laguna Beach, and who keeps his finger on the pulse of home listings before they even go public. With short sale homes, offers roll in quickly, and there is often not a chance for a counter because the buyers for these homes are so competitive. You want to align yourself with someone experienced in dealing with short sales and the Laguna Beach area before you take a chance on submitting an offer.
2. Look for great views
Homes with great views of the ocean may be a bit further away and elevated, but they are still within minutes of the water, and they often come at a lower price tag than beachfront property. If you focus on views first instead of accessibility, you are liable to get a home that is cheaper at a cut rate price without sacrificing very many amenities. For some who can afford beachfront property, accessibility is everything, but for most people, a view is worth thousands of dollars in itself. And since you’re looking at making an investment, who cares anyway? Ultimately, you want something that will make you money quickly with minimal upfront investment.
3. Focus on multiple properties at a time
Putting all eggs in one basket can lead to desperation, and you may end up paying more than what is profitable. By focusing on multiple properties, you can keep short sale offers in perspective, and stand a better chance of getting a great home way below its actual market value. As the numbers start to tick up in late 2012 , you could see an exponential return on your investment.