Chris McBride

    Idaho Falls Foreclosures, Short Sales & Secret Housing Deals.

    Every two weeks my team and I put togethor a list of foreclosures, short sales and homes we've come across that are Exceptional Investment Opportunities. And I do mean Exceptional.

    Through a variety of techniques we've mastered we're able to find the absolute best properties available for the best possible prices. It's what we do.

    Finding great home deals is a process in which the right tools are extremely valuable. We use bank owned databases, the local MLS, & watch for mortgage default notices to find the best deals.

    Here's a few secrets we share about finding Great Home Deals...

    Click here for Secret Housing Sneak Peaks

    1) Vacancy

    How long has the home been vacant? If it is vacant the chances are the owners are paying two mortgages or rents. Their probably motivated to sell. You'll most likely get a better deal buying a vacant home rather than an occupied home.

    2) Days on Market

    How long has the home been listed for? Have their been many price drops or changes to the listing? If it's been listed for over 100 days chances are the Sellers are getting very ancy.

    3) Ownership

    Who owns the home? A bank? A distressed seller who's missed a few mortgage payments? The Estate of a relative thats passed away? A couple who's moved to Colorado for work and now needs to sell? Home Ownership in many cases help determine the seller's motivation.

    4) Price Range

    More people can afford homes of $150,000 and below than can afford homes of $300,000 and up. If you've got the money to purchase a more expensive home, the probability of finding a better deal increases. Simply because there are more sellers and less buyers.

    When you stack all the above elements togethor we have the ability to find some truly Fantastic deals.

    Click here for Secret Housing Sneak Peaks

    An Idaho Falls Foreclosure, a Recent Case Study.

    Idaho Falls Foreclosure

    (actual photo of foreclosure)

    The Idaho Falls house was a foreclosure, and the bank had it listed for sale at $179,950. I looked at the neighborhood comparables before ever looking at the house in person. The neighborhood comparables were right at $180,000, meaning it was priced at market value.

    Which is typical of a bank, the bank wants market value for their foreclosures. They need to be motivated just like any other seller before you’ll find a deal.

    Obviously at $179,950 it wasn’t a good deal, in terms of an investment property. So I committed to keeping my eye on the house and I waited.

    The bank did not drop the price for 4 Full Months! When they finally did, they dropped it $10,000 to 169,900. I continued waiting, I still didn’t think the bank would find anyone to pay out $169,900.

    One month later, they dropped it another $10,000 to $159,900. I thought, “This has just become a good deal.” So I called my client who had recently become a member of my VIP Buyers Program. He was already prequalified and I knew exactly what type of property he wanted.

    I showed him the house and we made an offer one day later. After a series of counter offers we closed on the home for $150,000 and the bank paid all my clients closing costs which were approximately $4300. 

    The beauty of this deal was ALL the Right Elements aligned perfectly. It was bank owned, vacant, had been on the market for over 150 days and the seller was EAGER to get rid of it.  

    My client ended up walking into a new home with roughly $30,000 in equity.

    Apply for the Secret Housing List, There are deals RIGHT NOW waiting for serious, pre qualified & patient home buyers. Click here for Secret Housing Sneak Peaks

    Every two weeks we assemble a housing list which contains the Best of the Best Investment Properties in Eastern Idaho. This list is full of Idaho Falls Foreclosures, Short Sales and Motivated Sellers. In order to recieve this FREE list mailed or emailed to you fill out the form below.