Thursday, May 15, 2008

Getting Shaken Up - $1 Dollar Assumable

Even in a market with strong economic fundamentals there are plateaus. If you are aware when these plateaus come they won't alarm you, in fact you welcome them because they create excellent buying opportunities. In Edmonton we have gone from extreme seller's market to a strong buyer's market.

I found a property that can be assumed with qualifying in Edmonton the other day. I like this for 2 reasons:

1. It's good marketing. It will attract buyers out of curiosity just like you - who will click here to see what it is about.

2. It shows there are a lot of motivated sellers out there. I don't know the motivation for this seller and I hope it is not due to any misfortune. However, deals like this show there are many motivated sellers:

- people got stuck trying to flip a house in last year's market
- investors who got scared because they think the market will crash/ is crashing
- short-term investors who can't weather out the plateau

This specific deal doesn't fit our criteria (assumables are getting tougher and tougher to qualify for) but there are many more out there like this. With a little determination you can pick up some incredible deals now.

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