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2010-12-13 20:36:07

Denver Foreclosures including Bear Valley Denver Area

In today’s market, including Bear Valley Denver Foreclosures, there are many homes that have been neglected or rundown. This unfortunate housing dilemma has hit many neighborhoods in Colorado and around the US today. These properties for one reason or another need work and usually are back in the hands of the lender. These houses often times are put on the market at a lower price than the market value. This works well for a fix and flip situation, where an investor purchases one of the neglected homes with the intention to remodel or update as needed to meet neighborhood standards, in order to sell it at a fair market value.

 

The process starts with researching at Bear Valley Denver Foreclosures and previewing the homes, in order to find that diamond in the rough to purchase and fix up.

 

  1. The purchase can come through different avenues such as a public trustee auction, open house auction or from a listing agent.
  2. The investor then places an offer after giving much thought to area, location and resale value possibility. Many times after completing and processing a cost estimate repair sheet to see if updating and remodeling will be cost effective. The list could include such exterior items as roof, foundation, siding, gutters etc. The interior items can be the hot water heater, air conditioner, furnace, paint, carpet, appliances, kitchen cabinets, etc.
  3. Once the investor has found a home to purchase, an offer is presented at an auction which sometimes can cause bidding between different investors to buy, or a listing broker/company that has the property for sale.
  4. Once the purchase is complete the process begins with demolition work and trash removal as needed.
  5. The countdown has begun for the plans on repairs and usually a set time to have the house ready for the market.
  6. After a few weeks or months of intense labor throughout the house it is completely renovated and ready for resale.
  7. The house is placed for resale and ready for a buyer to add their own personal touch.

 

The other scenario may be found at Bear Valley Denver Foreclosures also, this is a more “hands on” type. You may enjoy doing the renovations yourself. It is similar to the above but usually the purchase is through a multiple listing service with a Realtor that is available to general public. These homes are available to a person who would like to fix/repair their own house. They may be able to buy it at a price discounted from a comparable of market value for the area, but are in need of money/resources to repair/fix the home. Generally, when renovating or updating of these homes occurs, it increases value of the neighborhood and generates a more desirable area for families.  

 

My background has been helping others evaluate and remodel their homes in the Denver area for resale. I am making my knowledge available not only for Denver Metro area, but actively marketing the Bear Valley Denver Homes area. I also actively show and sell here. Everybody has different needs when choosing a home. You need a Realtor that will be patient and understanding. I can help you find that home!  

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