If you do one thing, and do it well, you will succeed. Janice Grandy is a prime example of that. Janice has been representing sellers in the disposition of foreclosed properties since 1998, long before foreclosures became a significant part of the Minnesota real estate market.
Janice has been licensed REALTOR since 1978. For many years, she represented both buyers and sellers, and established a successful career by staying on top of product knowledge and market expertise. Janice developed a reputation with her ability to negotiate on a client’s behalf to achieve desired results.
Janice fell into her foreclosure specialty when she was handed a BPO assignment. Today, Janice handles 35-40 foreclosures per year. In fact, Janice jokes about needing to office out of her house or otherwise she might not ever be home! Her foreclosure business is demanding in terms of time and paperwork; Janice is responsible for property upkeep and paying for utilities of properties that she markets.
There is no reason to believe that she is going to slow down anytime soon. Janice believes that the foreclosures have not peaked yet. She attributes much of the foreclosure problems to questionable loan products.
What advice would Janice have to buyers who are hoping to purchase foreclosed properties? Get an inspection! Foreclosed properties are selling “as-is.” Also, the notion that you will pick up properties for “pennies on the dollar” is just a media-fueled myth. The banks know the value of the properties because they have already have had at least two appraisals. They are already listed at aggressively low prices, and your best bet is to have your financing in order and make a reasonable offer. “Lowball” offers will simply waste everyone’s time, and you will lose out to another bidder.
Possibly Related:
{ 0 comments… add one now }