This just in today… Foreclosure Home prices are up 12.1% over last year and are up 3.2% from March to April – but remain 22.4% below the April 2006 housing peak (according to Corelogic’s April Home Price Index Report). This housing boom is building steam and has lots of room to grow. 2013 will go down as the best year for both finding great deals (grabbing foroeclosures before they are gone) and making profits in real estate (as appreciation kicks in). What a great time to be a foreclosure investor!
Here are the highlights. This should get you pretty excited…
- Year over year home price growth at 12.1% is at it’s highest level since February 2006;
- 33 large metros have seen double-digit increases;
- All states showed year-over-year price appreciation for non-distressed sales;
- Top States with year-over-year-price appreciation:
- Nevada (+24.6%); California (+19.4%); Arizona (+17.3%); Hawaii (+17); Oregon (+15.5%)
- Top States remaining the furthest from peak values:
- Nevada (-47.3%); Florida (-40.5%); Michigan (-36.1%); Arizona (-36%); California (-29%)
- Pending HPI indicates that home prices are expected to rise by 12.5% in May;
- Read the full report here.
“For the second consecutive month, all 50 states registered year-over-year home price gains. We expect this trend to continue, bolstered by tight supplies and pent-up buyer demand.” Anand Nallathambi, president and CEO of CoreLogic.
“Increasing demand for new and existing homes, coupled with low inventory, has created a virtous cycle for price gains, most clearly seen in the Western states with year-over-year gains of 20% or more.” Mark Fleming, chief economist, Corelogic.
Investors Pay Attention — You Must be Creative in Finding Wholesale Deals
You can no longer pick off the MLS low priced foreclosures. Inventory is too low and we have many buyers and investors aggressively bidding on every listed property. With wall street deep pocket cash investors now actively buying rentals to hold for high cash flow and sell down the road for 2-3 times today’s value, it’s impossible to compete with them.
What’s Your Plan to Find Deals and Put Profits in Your Bank?
To begin, don’t compete with institutional cash investors. Instead, find great deals and SELL to these deep pockets. If they are willing to pay retail prices, then focus on finding wholesale deals and flip them to these investor buyers who are ready to close fast with cash in their hands! They will be your paydays!
This is exactly what my clients are doing, with my direction. They are focusing on finding wholesale foreclosures deals that are NOT listed for sale and getting those “hidden” motivated owners to sell, at wholesale prices. We are structuring win-win-win deals, where the seller, my new investor clients, and their investor buyers, all make money.
The key is finding the motivated foreclosure owners who have not listed their homes for sale… to avoid the bidding wars. I will share those details with you tomorrow in my Strategy Session Webinar. If you’re not already registered, you’ll want to secure your seat quickly here, as I limit capacity to keep things intimate.
Mark your calendar and make sure you join me in “Your Agents Foreclosure Leads are Dead. Find Wholesale Hidden Deals Your Competition Misses” June 5, 2013, 6pm Pacific, 9pm Eastern. Make sure you login early to secure your seat. And stay until the end to participate in my Live Q&A with myself and my special guest client. I know you will love it and learn a lot. Talk to you then!
Read more about Foreclosure Homes:
- Foreclosure Home Report: Investing Strategies Vary Coast to Coast
- How To Avoid Foreclosure Home Bidding Wars?
- Foreclosure Home Prices Continue To Rise
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