Investing in Short Sales
We are still living in the first home we purchased, and it was not a short sale. However, we have been in the early stages of discussing the next home we’d like to purchase, where it would be located, what features we’d want it to have, and so forth. I am not a huge fan of moving, but investing in short sales is appealing. We have moved NINE times in the nearly 16 years we’ve been married. Granted, in the early days, Nick was in the military, so moving was just part of the job. After that, we moved back to my home state, renting while we looked for a house, and then moving into a larger apartment when I got pregnant, then moving to OK, and moving around from an apartment to a rental home closer to my employer while we decided what part of town to settle in, close to a good school district for the kids.
When we bought this house, it was ideally located for school and Nick’s job, and we planned for all of the kids to go to the local school, and felt like we had plenty of space. Five years later, Nick works from home (For the same employer), I home-school Aaron, and the other two do attend the local school. The location is still great, but as the kids are getting older, and all five of us are in this house most of the day during the hot summer, it becomes strikingly obvious that we just need more space….or at least an office area with a door. Currently Nick works upstairs in our loft area, and as you can imagine it’s quite difficult to keep three kids who are 6, 8, and 10, quiet all day while he works.
So, we have been considering finding a short sale house for our next (and hopefully last) move. We can’t afford a much larger house payment with the medical expenses we have, but we do need the space. A short sale would provide us with more house for less money. We’ve been pretty fortunate that the housing market isn’t terrible in our area, and many areas are actually seeing growth, so we feel confident a short sale would be a great investment in gaining future equity.
Other areas of the country though, seem to have more properties available. I was recently in Las Vegas, and saw that the las vegas short sale market has many more homes available than what we have in my area. While, a home that is a short sale las vegas home might be an excellent price and potential investment, and perfect for my emerging career in social media, we don’t have any plans to move to Nevada, and Nick’s employer doesn’t have any positions there. A nevada short sale might be perfect for some of you though. I know I met many Nevada residents at the conference I attended there, and I know some others through various other means, and most of them are currently renting. If you are one of those, I’d encourage you to at least take a look at the short sale market and see if you can find anything that meets your needs and is within your budget limits! You can also consult a bankruptcy attorney Las Vegas for additional assistance!
I am participating in a blogger campaign by Bucks2Blog and was compensated. However, the views and opinions are my own.