My First House

Being in Real Estate, when the time came for me to decide between Buying a House or Renting an Apartment, I decided to become a Homeowner.  I started by searching for houses that were in Foreclosure and quickly learned that only a handful of Realtors in the area were certified as Foreclosure Specialists (basically, there was a special key and only about 3 agents in the County had this key) so there I was, a Realtor who needed a Realtor.

Not having many options to choose from, I chose the first agent I called who actually returned my call.  We saw several foreclosures, including a house that leaned.  There was clearly a problem with the foundation which was very noticeable by a 3ft slant on the 2nd floor.  If the window was open, I would have slid right down and fallen two stories.  When I mentioned this to my agent he stated with the straightest face "It's just a little tilt"!!

I ended up buying a different house we saw that day.  It didn't lean.  I spent $79,000 on a twin home that needed paint and carpets.  The same week the neighbors in the connecting unit paid $103,000 for their house which also needed paint and carpets.  Over $23,000 in equity in 1 weeks time... not bad for someone new to the business!

I learned a lot from this experience... about myself, about how I wanted to run my business and about the type of agent I wanted to be

That house sold for $155,000 just 5 years later!


Whether looking to Buy, Sell or Invest

Holly DiMemmo, Realtor
Joe Maggio Realty
C: 302-930-8800
O: 302-226-3770
BuyandSellDelaware@gmail.com

Like On Facebook @buyandselldelaware

Comments

Post a Comment

Popular posts from this blog

Can I List My Home For Sale if I am Late on Mortgage Payments

Many times a stroke of bad luck will come along and as hard as people try to stay afloat, they will fall behind on their mortgage payments.  Sometimes it just happens.  Change in job status, reduction of hours, medical disability... there are many reasons why good people fall behind. If this has happened and you are looking to sell your house but don't know where to start, remember that in most cases, the first step is list your house For Sale with a Realtor.  While listing your house For Sale By Owner may seem like a smarter way to go, it is usually just a waste of valuable time and resources (not to mention money paid for signs, advertisements, lockboxes, flyers, etc) The first thing you want to do is call a local Realtor who is familiar in Late Payments, Short Sales and Foreclosures.  A Realtor who is experienced in these types of listings will be able to explain the Short Sale process to you, come up with a plan of action and be able to list your home For Sale while working
Read more

Purchasing a Foreclosure

Many homes listed as Foreclosure properties are listed in the MLS.  These properties may need more work than a personal home sale but the repairs that are needed are usually taken into consideration when pricing the property. Many times when purchasing a Foreclosed property, the bank has already completed an inspection on the property so they are aware of any issues.  If this inspection was done, it will be available to you.  It is recommended that you complete an inspection of your own as well. In many cases, a Buyer will be able to get a Sellers Assist when purchasing a foreclosed property as well as a special loan that can help offset the costs of repairs. It is recommended that you call a Realtor who has experience working with Foreclosed properties. For more information please contact Holly DiMemmo, Realtor Joe Maggio Realty C: 302-930-8800 O: 302-226-3770 BuyandSellDelaware@gmail.com Like On Facebook @buyandselldelaware
Read more

Short Sale Gotcha Down

Short Sale Gotcha Down? Calling an experienced agent to help you navigate the process will Save You Time on the phone with your bank Save You Energy Save Your Credit from Possible Foreclosure Don’t Waste Anymore Time.  Let a professional handle it! With over 16 Years Experience I can Help You! Holly DiMemmo, Realtor Joe Maggio Realty Cell: 302-930-8800 Office: 302-226-3770 BuyandSellDelaware@gmail.com www.buyandselldelaware.blogspot.com From For Sale to Sold and Everything In Between
Read more