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Submitted by: Chuck Magee
If you are trying to locate a good investment for real estate in Alabama today in this very uncertain market, at best, it is a bit risky. I can help you with some proven ways in finding land tracts or investment houses.
Hesitation might be the new normal in the Alabama real estate for sale market during these uncertain times. Frightening could be another adjective to describe it. With this uncertainty comes the fear of realtors to advertise as much which is understandable. Bank after bank either closing or they are in trouble. We are not positive if the worst of all this is over or if this train wreck is going to double dip. So have hearing this gloom and doom story, why in the world would you want to invest in this market? With over twenty years experience in the real estate market, I can give you a few reasons why. In the midst of all this gloom, if you search, there is always a good deal to be found. The speculative borrowers plus their lenders were first to get hit followed by commercial property and last but not least the American public. Well, knowing all this let me start by telling you where you might look for a good deal.
Knowing who the hardest hit were (speculators and their bankers) start your search with local banks and local Real Estate Brokers. Find out if they have any bank owned real estate. If they do, they aren t in the real estate business and should want to unload it fairly painlessly. I would also check all of the local newspapers, real estate guides, etc. The majority of the people have never bought land or even houses at an auction but let me tell you this is a great way to buy a tract of land or even a house to rehab. Watching the local newspaper that has the highest circulation is a good place to search for the bid dates of any foreclosures in the area. The USDA has always done a lot of foreclosures and that for sure is the case in this current economy. The county court house is the next advice I can give you. Go there and search for those properties that haven t had the taxes paid on it. If taxes haven t been paid in three years the owner might be in a spot where they would love to sell their land in Alabama to avoid the property being sold on the courthouse steps. This is a touch situation for folks, so I would word a simple letter asking to buy their property. Do not call. Just send a letter. That is my advice. Calling is too intrusive.
Get your finances in order before you start to search for the great deals. Unless you are a cash buyer, you better take a good look at your finances, so you will be able to strike a deal when you find one. If you do have cash on hand, really negotiate with the banks for a good rate, because this is the time that you can if you are searching for land for sale in Alabama.
About the Author: Chuck Magee has been in the real estate business for two decades and has launched land for sale websites like
alabamalandsource.com
,
louisianalandsource.com
, and
mississippi-landsource.com
Source:
isnare.com
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