We have a really strong real estate market with increasing sale prices and extremely low inventory. Foreclosure activity in Dallas Metro area is at low levels, not seen in years.
Where are the good foreclosure deals? For investors, looking for good deals with a reasonable return on investment, I have good news! Foreclosures are still going on, good deals for investors are still available.
Only small issue: nobody knows about those deals until is becoming too late. Property is already on the market, and everybody is trying to view the property, calculate the costs and make offers.
I have seen few homes in the past weeks that are already foreclosed, and will be on the market in probably 3-4 weeks,. Also, there are 2 homes that will become available in May or June.
Good deals, in my opinion:
- A two story house with 3,186 sf in Garland, soon to be on the market. This is a 5 bedrooms, 2.5 bathrooms house that needs new carpet, paint, some drywall repairs, other miscellaneous small issues. Good buy.
- This house is more towards the higher end, and is located in Fairview. Neighborhood homes are selling between $700,000 and $1 mill. This is 5,513 sf house on almost 2 acres. Extensive repairs: complete flooring, lots of drywall, mold. There has been a water leak (I do not know what caused the leak). Most likely will be available for sale in the next 3-4 weeks at a discount price. Good buy.
- For a smaller investment you can buy a house in Garland, that has about 1,496 sf. Available probably in June. Repairs, updating will be needed.
- If you like to live outside of the city, a new deal will be available in Gunther, also probably in June or even July.
Looking for deals and more details? Contact me, and I will provide more details and in many instances, more pictures.