fixer-upper1The data shows the number of Pending Sales declined in August 2013 in the Western States by 4.9%.   Economist believe this is the direct results of the interest rate rise that went into affect in July 2013.   This slow down might increase our chances of finding some fixer uppers for flips in Milpitas.   Below are are the top 5 sources of fixer upper homes in Milpitas:

1)  Craigs List:  Despite nasty interface for CraigsList, there is valuable content there that will help you contact owners who might be test marketing their own property.   Contact them to see if their property is for sale or not.

2) Short Sales:   Short Sales are still good sources of Fixer Uppers primarily because the owners do not have the fund to repair their home since they are often behind on their mortgage payments.

3) Seasoned REOs:  We like to focus on REOs with at least 60 days on the market where everyone in the food chain including lender, listing agent and Asset Management company are anxious to liquidate the property fast.   There might just be a few REOs left in the Milpitas which might be good flip candidates.

4) Auctions:   If you are living in a Trustee Sale States such as California, Auctions also represent a decent opportunity to purchase Fixer Uppers for cash.  We have developed series of articles on potential of winning at auctions in different cities including San Jose,  Los Gatos, Los Altos, Redwood City, Milpitas just to name a few that you can read.

5) FSBO:  For Sale By Owner properties offer decent opportunities to pick up a fixer upper that might be a good candidates  for flips.  Our recommendation is however, to have a Realtor draft the purchase contract and help you with the escrow.

Finally we have cash buyers ready to purchase your fixer upper properties in days with no inspection.  Let us know if you would like to sell your San Jose fixer upper.

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