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Housing Inventory Drops 22%: Where to Find Deals Now

by blogger1
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on Tuesday, 15 May 2012
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According to the National Association of Realtors housing inventory fell 22% nationwide in March. New stats show this number diving even further in April with many areas sitting on just a 3 month supply of homes.

This is driving down the number of days on market for homes being flipped by real estate investors but it is also making it incredibly difficult for many to find deals locally. So where are all the bargains now?

Recent research has shown that simply picking up the phone and cold calling can still be incredibly profitable for real estate investors. In fact one study puts the value of cold calling at just under $400 an hour for real estate professionals marketing for homes for sale.

Still not many investors love cold calling anymore and if you have a $400 an hour attorney you are going to need to make more than that. Social media is an obvious choice for those who prefer hiding behind their screens though increased competition means those getting started late have a lot of catching up to do. New tips released directly from Facebook suggest being more direct in your pitches, including strong calls to action and using more video and photos.

Some investors have turned to new software to run reconnaissance on smaller regional and local banks to find out what REOs and non-performing loans they are holding and are jumping ahead of the line to get them before they hit the MLS.

Starting your own real estate investors group or even hosting a regular local networking party for mingling with potential sellers can work but just make sure you enlist sponsors to offset your expenses or you bar tabs could grow bigger than your paychecks.

Creating more of an event feel and using more gimmicks to bring in more visitors to open houses you are currently running can also draw in more nosy neighbors, potential sellers and can generate many leads and referrals. Though again, just make sure the bottom line stays in the black.
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