The Hidden Market - 3 Ways to Find Homes Below Market Value

With single family home prices rising & condo values remaining stable & if getting a great deal on your home purchase is important, it might be time to ask your REALTOR® to help you find a home in the ‘hidden market’. These homes are NOT usually on the MLS® & you will need to ask your REALTOR® to do some extra work.

Where are these hidden homes? Most often you will find them in 3 places.

Door Knocking & Personal Letters

Drive down every street in your chosen community & list the homes that you would love to live in. Ask your REALTOR® to knock on the door & or to mail a personal note to each home. It’s a lot of work, but this method can be used to find homeowners who were thinking about selling, but did make the deliberate choice to do so until your REALTOR® presented them with an opportunity. You will be the only people at the party & the negotiation leverage is with you.

For Sale by Owner

Many for sale by owners have no idea how much their homes are actually worth especially when the market is hot. With assistance of your REALTOR® you might be able to purchase a wonderful home at well under market value.

Unsold Listings

If your REALTOR® keeps abreast of the market, they will know which homes in your chosen community have been for sale & failed to sell. There may be many good reasons why they didn’t. Perhaps the seller was not motivated. Perhaps they were asking too much. Perhaps they were reluctant to complete some needed repairs. Perhaps they were not well represented. Statistics show that many of these folks will try to sell again. Why not beat them to the punch & have your REALTOR® knock on their door, or mail a personal note? Who knows you might be able to purchase a home at ‘last months’ value & in an appreciating market & that means more equity for you.

To shop for ALL homes in the metro Edmonton area please go to our website www.AmbergateHomes.ca.

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