100 South Dawes Street, Apartment D, Kennewick, WA 99336 Condominium For Sale
100 South Dawes Street, Apartment D, Kennewick, WA 99336 Condominium For Sale | MLS# 251090 | $275,000. Built in 2009, this 1258... Read More
When items are discounted at the grocery store, there’s always a reason. Maybe the bread is a little bit stale or the item has been discontinued. Before buying any discount produce, you should probably understand why it is being discounted. The same is true for homes and while there are many cheap homes on the market, learning why it is selling for such a low price will go a long way towards telling you just how worth your effort that property may be.
There are some common reasons why property sells for a low amount or may be listed for a low price initially. Some of these reasons may indicate a home you do not want to get involved with but some may indicate a good deal. When you see a cheap piece of real estate on the market, evaluate it to see which of these situations it falls in to.
A Less-Than-Stellar Area
The location of a home affects its value profoundly and while that can mean great things for a home owner in a posh location, it can also mean suppressed real estate prices in an area that is anything but. Many people think that no matter what, real estate will increase in value. That is not necessarily true and the future fortune of a neighborhood will directly translate into whether your real estate investment or home price swings up or not.
The Fixer-Upper
We have all seen homes that simply need work. For whatever reason, the current owner has simply grown tired of updating a home and that state of disrepair translates into a steep discount in the home’s sale price. If you do not have the stomach to go through the arduous process of repairing a home, these cheap prices of a particular piece of real estate are certainly not for you. If you are not scared off by the prospect of some labor, these can be great targets.
The Speed Sell
Sometimes a seller needs to sell a property fast, whether to get out of town for relocation or to quickly liquidate some assets. These types of homes present the best opportunities for prospective buyers as these pieces of real estate suggest the least amount of problems. Of course, these homes get snatched up quickly, the very goal the seller has in mind, so finding them can be a bit of a difficult prospect. The best tactic is to monitor an area of town or maintain searches on a set of criteria on a regular basis to turn up all of the new homes that get put on the market every day. The real estate market is a competitive arena, so make sure you are doing all you can to get an edge over the rest of the prospective home buyers out there.
The Mystery
The rest of the cheap homes generally fall in the mystery category and these pieces of real estate are the ones that you need to be most cautious about when investigating for a possible purchase. Homes are always cheap for a reason and there is certainly a reason buried somewhere in the floorboards. Is it near an airport? Does a railroad run through the backyard? Not all mystery homes hold mysteries that are this obvious but the seller is obligated to disclose anything that affects the value of the home, so just make sure you and your realtor ask the right questions.
Doing your homework on why a piece of real estate is selling for the price it is will go a long way towards determining the worth of a potential investment or home purchase. Cheap homes can look attractive at first glance and then lose luster with further inspection. Ask the right questions and do the right research so that you too can make that determination accurately to avoid potential headaches later.
100 South Dawes Street, Apartment D, Kennewick, WA 99336 Condominium For Sale | MLS# 251090 | $275,000. Built in 2009, this 1258... Read More
Horse Property at 158904 W North River Road Prosser, WA 99350 Home For Sale | $385,000. | MLS #251017 Perfect Prosser horse prop... Read More
Kennewick, Richland, Pasco, & West Richland Washington Virtual Open Houses in the Tri-Cities MLS MarketOne positive outcome fro... Read More
Listing Your Home to Sell | What We Will Do For You When Selling Your Home on the MLS When you list your Tri-Cities Washington o... Read More
2505 West 32nd Avenue, Kennewick 99337 Home For Sale | $324,900. | MLS®# 250031 Well maintained and upgraded 2072 ... Read More
6106 Panther Lane, Pasco, WA 99301 Home For Sale | $275,000. | MLS# 250418 West Pasco 4 bedroom, 2 bath, 1,481 sq ft home built ... Read More
Helping Home Buyers | What We Do For You Local Tri-Cities Washington Husband/Wife real estate team offering all sorts of advanta... Read More
Are you looking for something to do this weekend in the Tri-Cities Washington or in the surrounding area? Then check this out! We h... Read More
105 South 716 PR SE, Kennewick, WA 99338 Southwest Kennewick Home For Sale | $515,000. | MLS# 250251 Situated on over a half-acr... Read More
266 Greenview Drive Richland WA 99352 Home For Sale | $545,000. | MLS# 247909Beautifully elegant well-maintained large 4633 square ... Read More