The REAL Estate Bargain

How to avoid self-proclaimers and find a true real estate bargain.


Mention real estate, or the real estate market in any idle conversation these days and someone is bound to chime in with the latest 'deal' they've heard about or seen. They will immediately compare it against another unseen property, based on size, and regale you with what a 'bargain' it is. 'A one bedroom unit for $49,000, how can you pass that up?' They ask this as if you are simply out of your mind to not jump at it. What they neglect to understand is that a true bargain rarely goes unnoticed, and is always predicated on more than just its own attributes or price.

Without a true market comparison, such a property is only a self-proclaimed bargain. Self-proclaimed bargains are usually little more than hype. The key to finding a bargain is to use market metrics which show the difference between the property you are interested in and the market. Such metrics include property price vs. area median price and the more specific dollar per square foot comparison. As well, there should be consideration towards the neighborhood, amenities, and even how much it may cost to refurbish, if necessary.

Finding drastically price reduced properties can be difficult, particularly with the vast offerings currently on the market. Many online sites, like Craigslist, allow you to list your property, and hype it however you choose; only worsening this situation. Avoid these at all cost! It will take you far to long to research each of these properties and make these comparisons. This is particularly true in the case of foreclosures and short sales, where the legal details are nearly tantamount to the actual property itself. Look instead for sites which offer metric comparisons and detailed market information, along with resources for foreclosure and short sale listings.

Need more help? What most online resources neglect to address is the need for reliable market experts that can help potential buyers understand what these metrics mean in the long run. This is when having a trusted real estate agent on hand makes all the difference. Quality local agents have the most current and detailed information available and can assist you in making the best decision for your needs, budget, and preferences. Also, in the case of foreclosures, we have resources to expedite research on back-taxes, liens, and any other obstacles which may disrupt the sale process. Interested in having an agent help you find a bargain? A qualified CNE Certified Negotiation Expert Linda Wieczorek specializing in your market, working with Investors and 1st Home Buyers.
Please contact me by calling 602-391-8246 or e-mail.

AZPrideProperty has an entire section of our site devoted to foreclosed properties which not only lists foreclosed properties exclusively. This means you can find a bargain on a foreclosed property just as easily as one under normal selling conditions. So you can start loading your cart.