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We Buy Ugly Houses Virginia Beach

"Our top-performing franchises are remarkable businesses that demonstrate every day that even in a tough national real estate market, local opportunities abound for profitable investment in ugly houses and sales of lovely homes," said David Hicks, Co-President of HomeVestors. "The success of HomeVestors real estate franchises is the best evidence there is of the effectiveness of our franchise model, which includes powerful marketing strategies and world-class systems, training and support."

we buy ugly houses virginia beach

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Florida has the highest number of cities with real estate markets that could be in trouble, followed by Illinois. Keep reading to see which cities in these and other states have housing markets that are turning ugly.

Home prices have been rising in this village 35 miles southwest of Chicago but not at the same pace as the national average. More telltale signs, though, that the housing market in Plainfield could be turning ugly are the relatively high foreclosure rate and percentage of homes for sale with price cuts. In fact, Plainfield has the second-highest percentage of listed homes with price cuts at 25.3%.

Decatur has the lowest foreclosure rate among the cities on this list. But the housing market in this central Illinois city could turn ugly due to its high percentage of underwater mortgages. Decatur also has a higher percentage of homes with price cuts than half of the cities on this list, and homes for sale spend more days on the market here than in a majority of cities.

Like other cities in the Tampa area, Riverview has a housing market that could turn ugly. It has the second-highest foreclosure rate on this list. Home price growth has slowed over the past year. And nearly 25% of homes listed for sale have had price cuts compared with 17.5% nationwide.

Peoria claims the No. 1 spot among cities with real estate markets that are turning ugly for several reasons. This city in central Illinois has seen the biggest drop in home prices over the past two years of any city on this list. The average number of days houses are on the market and the percentage of homes for sale with price cuts are higher than the national averages. The percentage of underwater mortgages here is more than double the percentage nationwide. And the foreclosure rate is among the highest on this list.

Beyond the standard justifications people choose to move on in their real estate journey, there are some reasons specific to ugly houses: predominantly those associated with some form of misdirection.

Investors who have the capital to spend on maintenance and repairs of a property hunt out old ugly homes specifically because the worse condition a home is in, the better the purchase price the buyer is likely to negotiate with the seller.

Of course, there will be a lot of expenses for the buyer after the property is purchased. But when they have the time and money to invest in turning the ugly home into something liveable and presentable, they can make a lot more money by reselling it back into the same market.

Location scouts in the film industry are always on the hunt for new and interesting properties for filming. Unsurprisingly, ugly homes have featured in many horror movies like The Amityville Horror, or the 1978 slasher film, Halloween.

It can be difficult to decide your next best move when you own an ugly home. If you need guidance or want to find out how to best manage your distressed property, speak to our team of professionals to see what may lie ahead for your lovable ugly home. 041b061a72


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