Portable Storage Units an Easy Bet as Home Buyers Eye ‘Distressed’ Properties

Demand for portable storage units will likely remain high given ongoing volatility in the real estate market. The rough economy has a bright side for first-time buyers as many snap up “distressed properties.”

That’s according to a new Realtor.com survey of agents and brokers. A staggering 91 percent of new buyers are extremely interested in short sales and foreclosures.

“I always advise my first time buyer clients to give serious consideration to distressed properties,” Dallas realtor Kerry Thornhill said. “It may take us a few weeks and a couple of more hurdles to jump through to get the deal done, but they will be glad they did when they realize the value from those efforts.”

The reason is obvious: Some clients are looking for, and getting, great deals. But deals are deals and that means hard work is often needed to revive and/or upgrade an older home.
As such, homeowners are going to have storage needs during the construction and transition. They’re going to have to consider all the logistics and that includes places to store everything during days of long, hard work. Portable storage units are one good way to handle the situation in times of transition before the moving trucks are able to deliver everything to its proper place in the home.

Realtor.com does issue a few caveats in its survey, warning that buying a home in a short sale or foreclosure can be a difficult, if not trying, process. It’s not a road that every buyer wants to go down, but there are always exceptions. Realtor.com emphasizes that buyers should learn how the process of purchasing a “distressed” property works, plan to be patient and flexible during the process, have on hand extra money to make necessary renovations as they come up and work closely with a qualified realtor every step of the way.

Rounding out the survey on how homebuyers are behaving, Realtor.com also found:
•    89% of their clients are interested in distressed properties because they think they are a good value
•    30% of their clients are interested in distressed properties because of the property’s location (school district, neighborhood amenities, etc.)
•    26% of their clients are interested in distressed properties because of the investment opportunity

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