Doing Real Estate Market Research
It should not be a difficult task to make these assessments on a pre-foreclosure property. While a bubbling real estate market is positive for sellers, a slowing market favors the more careful buyer. You can readily obtain the necessary information from the court or from the lenders or lien holders. Equity in a pre-foreclosure home is simply the difference between the total expenses on a property and what its market value is.
Therefore with an understanding of the market clues, making a determination of the market in three ways using days on market: seller's market 0 - 60, a flat market 61 - 90, or a buyer's market 91+ depending on the average number of days a property remains on the market. Although it is fairly easy to profit in a booming seller's market, one has to carefully follow a well-planned strategy in a slowing, buyer's market.