There's two significant types of buyers in Real Estate today.  The out of work Contractor and the defeated stock investor.

With the slowdown in construction, many Contractors are taking things into their own hands. They need to create their own JOB so they are getting creative.  They are buying "auction" properties to live sin that need fixing up.  Auction Properties don't have an inspection period, are as is and typically need lots of work.  Contractors are exchanging their labor for the value of their improvements in the house.  Contractors have an advantage over the typical investors who have to pay someone to fix up the unit.  The investor has to purchase the "fixer upper" and then pay someone to do the improvements.  In today's market this doesn’t work because of the risk of the unknown labor costs.  For the Contractor who can do their own work this works very well.  There's a client who works in San Francisco and lives in Napa on the weekends fixing up a home.  When it's completed he'll sell it and buy another one.  He created his own job and value since the market has slowed down.

For the Investor who can't do their own work Bank Owned properties works best.  Most investors are taking money out of their defeated stocks, buying long term investment for cash flow purposes on items like rental income.  Bank Owned Properties are great because investors typically can beat out competition because they can make the purchase quickly with less contingencies. 

There are opportunities in the market today for the Contractor and Investor in Auction and Bank Owned Properties.  The challenge in Auctions are "as is."  The challenge in Bank Owned Properties is timing.  How fast can you move? 

Timing is everything!  If it's time for you, a loved one or someone you know to look into Auction and Bank Owned Properties please call me and I'll "make it happen!"

Jerry Pujals