Why do so many of these Low Priced Bank Owned Homes sit Empty for Months?
As a Modesto Ca. Contractor Doing Repairs on a Few, I,ve Noticed the Repair
Cost is usually a Small Percentage of the Discount, & a Short Term Profit Seems
like a Sure Thing. Are Banks or Investors Possibly Overcalculating Repair Cost
on Some, Thinking No Room for Profit?
- The REO realtors usually get in the way of the deal. They want too much down and don’t want to negotiate.
- The majority if the buyers out there don’t want or can’t buy houses that need repairs, even if modest.
- Too much inventory available. Pro investors can be very selective in what they get into
- Very much harder than usual to get financing for a home loan for the average person now.