Expert: Dick Dennis - 8/25/2006

Question
how do i find real estate at deep discounts?  how do i know when the listing is deeply discounted from the value of the home?  i am interested in buying a luxury home that is 75 percent lower than the fair market value?  where should i look and how do i know i am getting the discount?

Answer
I doubt if you are willing to work for it like you should. And you DO HAVE TO WORK FOR IT. You have to become VERY familiar with the home values in the area you are interested. You have to make offers on houses knowing that nine out of ten will turn you down, maybe even 19 out of 20. You have to let all the Realtors know what you're looking for. Most of them will ignore you or laugh at you because they get that same request any number of times. You have to keep you eyes glued to the list of pre-foreclosures. You have to let lenders and bank know you are serious about buying houses with substantial discounts. And most of all . . . you have to be patient. Like I said, I doubt if you are willing to work for it. But that is just a small sample what you must do.

I do wish you well.

Dick Dennis                dixiedee13@aol.com