These past 5 weeks we have been involved in selling bank homes in Martinez, Pittsburg, Antioch, Richmond and Oakland. What’s been interesting has been the amount of interest we’ve received and the gambit of choices that are out in the market. There are hordes of people now buying bank owned homes in Contra Costa and Alameda counties, especially in Antioch, Pittsburg, Concord, Hayward and Hercules. Whos is buying these bank owned homes so quickly?  It’s investors with the cash and first time home buyers who understand the tremendous opportunity for them to get into a home at a great price.  Buying bank owned homes makes sense for both groups. Many have been cash buyers, but many have been buyers utilizing the FHA loan programs. The buyers that succeed in buying bank owned homes are those that come closest to the asking price. In many cases we have received offers that are significantly above the asking price. We try to price these bank owned homes at or slightly below current market comparables. From our perspective, we have seen many buyers being represented by many different agents, some using strategies that are doomed to fail. Using what we have learned and observing what has not worked for many agents, we developed a website specifically for foreclosure and pre-foreclosure homes that may help you when you are ready to buy your bank owned home.  The nice thing about this website is that the search has filtered out all the non-bank owned homes for sale in the East Bay so you can easily zero in on only bank owned homes in whatever area(s) interest you.  There are also some great tips to help you succeed when you make your offer.  The website name is a little long, but easy enough to remember since it tell you exactly what you will find there; www.FirstTimeBankOwnedHomeBuyer.com

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