Thinking of buying a single family home in the Reno or Sparks Nevada area? Have you been thinking of investing because you have heard that now is a great time to do so because of record low home sales?
If so, then one of the best places to invest is in Reno and Sparks Foreclosures. Currently we have about 288 single family foreclosures listed for sale in the Northern Nevada Regional Multiple Listing Service(NNRMLS).
There are a few things to keep in mind when looking at foreclosures as investments. One is that there is still a lot of risk involved with investing.
Not all purchases will give you a positive return on your investment. Getting to know the neighborhood in which you are interested in buying will help reduce some of this risk. Getting to know the market trends for those neighborhoods and the real estate market will help.
Serious investors are aware they need investment capital, money available that will not put yourself in debt. Investors should be aware of additional costs involved in buying foreclosure properties
. The properties are sold "as is" condition. This means no repairs we be made on the home. You may be buying a home that needs new paint or new carpet.
Depending on how old the home is, the roof may need to be replaced, the furnace may need replacing in a few years. Having money available after purchase is key to successful investing.
Once you have decided where and when you want to buy, you will need to act fast because homes that are located in neighborhoods are popular and well kept, tend to go quick. You have to be ready to act if you are going to be successful.
Often times acting quick means having the right person available to help. Finding the right real estate agent who is knowledgeable and educated in the foreclosure market can make all the difference. Seek a professional agent who will work diligently to find new listings daily so you can act fast when foreclosures come available.
The agent you choose should have a complete and thorough knowledge of the local market. Things like schools, neighborhoods, public transportation, future plans for the area, neighborhood statistics, market trends, phone numbers of recommended people who do repairs, inspections, appraisals are things that your local REALTOR® will know about. This will save you time and money, time saved by not having to do as much research and money saved be making good investment choices that will pay off when the time is right.
If you are thinking of buying a foreclosure in the Reno and Sparks area, I can help. Call me at 775-846-5424 or feel free to email me all your foreclosure questions and concerns. Feel free to visit my website to search all foreclosuresin the Northern Nevada areas. All listings are current, active and updated daily.
Reno Nevada Real Estate ~ Investing In Today's Real Estate Market