147. Foreclosure property listings in Germantown TN – what’s real and what’s not?
We buy houses in Germantown Tennessee. Are you planning to sell your house in Germantown during the coronavirus pandemic? We are a local homebuyer in Tennessee and we can help! The coronavirus pandemic has a lot of people wondering what will happen next. We can only use our previous economic experiences to understand what this situation would mean for property owners and real estate investors.
Here’s what real estate investors in Germantown should expect during the coronavirus pandemic
Shift in Demand
The real estate market is expected to start having fewer buyers and more homes for sale. This means that buyers will have the upper hand during real estate negotiations. There will be less demand for homes, so the sellers will have to be willing to sell at what the buyers are willing to pay.
Price Dip in Germantown
Homeowners may be losing income and might not be able to afford their mortgage payment. There may be a surge in distressed properties, which means real estate investors can pick up properties for less than market value. They will have more negotiating room when it comes to traditional real estate purchases. Housing prices in general will not be increasing, and there will be a lack of demand for new construction homes since pre-existing homes will be readily available.
Distressed Sales
This is expected to be a great opportunity for real estate investors because of the increase in distressed home sales. The coronavirus pandemic has put an incredible amount of people out of work and incredibly uncomfortable financial situations. Selling their house might be the only way out. This means they probably won’t haggle much on the price if they aren’t getting many offers. These sellers, however, maybe a little more emotional than usual, so do take that into consideration while in negotiations.
Low Occupancy in Germantown
Real estate investors that own short term rentals or vacation property rentals should expect to have extremely low occupancy rates while the coronavirus pandemic is going on. Most people will not be vacationing or visiting relatives while safer at home orders are in effect across the nation. In addition to the homeowners, vacationers may have lost the income needed to go on these trips. You may need to lower your rates temporarily to attract short term renters. Even if you don’t charge full rent, you will be able to cover at least some of your expenses.
Eviction and Foreclosure Suspensions
Real estate investors in Germantown should expect to suspend any pending evictions and foreclosure measures on any tenants during the coronavirus pandemic. Essential-only work orders and safer at home orders have caused an unprecedented amount of unemployed workers, which means they may barely be able to afford food and may not be able to afford the roof over their heads. Under normal circumstances, these people would most likely be evicted, but during the coronavirus pandemic, the eviction must be suspended to give them time to come up with the unpaid rent. Any property owners with mortgages that have also experienced unemployment may also not be able to pay rent on time and under normal circumstances would have foreclosure proceedings drawn against them, but during the coronavirus pandemic, these proceedings must be postponed.
Tighter Mortgage Lending in Germantown
With the drop of the mortgage rate on loans, there is a gigantic surge in applications for mortgages on real estate. With this large influx, the mortgage originators must start to have tighter restrictions in order to refrain from over-lending. Lenders might require a higher credit score or a larger down payment.
“Sell My House In Germantown TN”
We are Tennessee home buyers and we offer cash for houses in Germantown TN in any situation. We will make the process simple so you can quickly sell your house in TN and move on.
This is an unprecedented time. These are what the real estate analysts are predicting to happen based on situations in the past. Please call [company] today at (901) 562-0353 or send us a message to discuss what real estate investors in Germantown should expect during the coronavirus pandemic.
There’s a ton of information on finding foreclosures in Germantown, and lots of services that will charge you for access to their data. In fact, we have our own foreclosure property listings in Germantown TN right here. Join our Foreclosure Property Alert List here >>
But… how do you tell the difference between credible information and useless marketing gimmicks with local foreclosure properties?
Foreclosure property listings in Germantown TN
Some services – like foreclosure.com – are doing a great job consolidating information from many sources. Investors like us use them all the time because it’s cheaper and faster to use their information rather than combing through the classifieds ourselves. But the major drawback with online services like that is the information in them can be a tad old.
You may be looking at foreclosures that other investors who got their info directly from the courthouse got weeks or months ago.
We also use other sources too.
Lots of real estate agents who “specialize in foreclosures” publish their own lists, but these are often just marketing gimmicks to trade your contact info for stale goods.
There’s no harm in signing up for free lists – if the info is no good, just unsubscribe.
You’ll probably spend a lot of time getting excited about properties that are already sold or no longer available, but that’s part of the learning curve when you’re just starting out in the foreclosure market.
When you’re evaluating a new list to see if it’s worthwhile, compare the properties on the list to what’s published in other lists.
If you consistently don’t see any new or exclusive information on the list that you can’t get elsewhere, don’t use it.
We’re not real estate brokers, so we don’t sell information or give away crummy lists.
The properties we advertise are our own investments that we’ve picked up or have on contract, so it’s a short but exclusive list.
We’ve built a small, tight network of long-term investors who want to purchase credible investment properties in Germantown TN.
We find deep discounts and pass them along – while keeping a reasonable return that allows us to stay in business.
When we lock up a great deal on a cheap foreclosure (or non-foreclosure – distressed house), we put it out to our list and sell it fast.
If you’re ready to buy and looking for cheap property, sign up – you’ll only hear from us with exclusive deals in Germantown you won’t find anywhere else.