Looking to buy a home in St Louis at a BIG Discount?
Take it from someone that has been in the business over 30 years and during that time bought and sold over 2,000 homes; there is no silver bullet or magic formula to finding a great deal on a home or other piece of property. I wish it were that easy. You can however use information and resources that are available to help identify potential good deals and then, with a lot of driving and looking at homes, cull through the pile looking for the “deal”.
RealtyTrac just did some research trying to identify common characteristics of deals on homes that sold at a big discount (25% or more) and came up with property profiles that they feel identify those homes that have the greatest potential of being sold at a big discount.
What are the four profiles of “big discount” or bargain-priced homes?
According to the RealtyTrac research, homes that have the greatest probably of selling at the biggest discount or best deal, in Missouri are those homes that:
- are scheduled for foreclosure auction;
- have negative equity (more is owed on home than it is worth);
- are vacant;
- were built before 1950;
Homes in Missouri that met the above criteria sold at an average discount of 49.6% during the month of March 2014, according to the research.
How do you find these deep-discount homes for sale in St Louis?
A good place to start would be with a real estate broker or agent experienced in this area. I can help you with that if you like, just contact me and I’ll be happy to share what I know and have learned from my experience as well as hook you up with an agent that knows their stuff when it comes to this. Next, you can use the table below I put together that show the counties in Missouri with the greatest number of homes that are potential big discount deals. Finally, you can search foreclosures, as well as get additional foreclosure information (including a report I wrote on how to buy foreclosures) using the links below:
Search Foreclosures For Sale In St Louis
Get MORE Foreclosure Information Including My Report
