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Archive for April, 2011

Who is Mitchell Property Group? | Amarillo TX Real Estate 806-359-7653

Wednesday, April 27th, 2011

Who is Mitchell Property Group?  We are a local husband and wife team who buy houses in Amarillo TX.  Real Estate is our passion and we really enjoy helping people.  How are we different from other investors?

Well, first of all we are very easy to work with.  We take the time to listen to your questions and make sure that you understand all of your options.  Second, we give you several options to consider.  Contrary to what you may think, we don’t try to convince everyone to sell their house to us.  Some of the houses we look at are in good condition, in a good area, and the owners have plenty of time to wait for it to sell.  In that case listing the house usually makes more sense.  We would love to list it for you.  Emmy is a licensed Real Estate Broker with Key Realty.  She can help you sell it for top dollar to a homeowner.

On the other hand, if you have a house that you need to sell fast, or if your house needs a lot of repairs, we can definitely buy it from you.  We pay all the closing costs and take your house in as is condition.  You don’t need to fix anything or clean anything.  We handle all of the paperwork and take care of all the details.  It is a very easy process.

We can help you with just about any situation that you can think of.  You can check us out online at Mitchell Property Group or better yet you can just call us.  If you need help selling your house give us a call at 806-359-7653.

We Buy Amarillo Houses | Sell Your House This Week! 806-359-7653

Tuesday, April 26th, 2011

Do you need to sell your house fast?  Like yesterday?  Does your house need work?  Do you hate the thought of working with a Realtor for six months and not knowing for sure if your house will end up getting sold or not?  If so, you should call us!

We are a husband and wife team in Amarillo TX.   We buy Amarillo houses from people just like you every single month.  We are very easy to work with, and we offer fair prices on the properties that we purchase.

We have to buy the house at a price that will allow us to remodel the property and sell it for a profit.  But when you compare our offer with what you would actually walk away with if you were to list with a Realtor you will see that our prices are very fair.  We pay all of the closing costs and take care of all of the details.  We buy your house in it’s as is condition, so you don’t need to fix anything or even clean anything.  We can close in as little as 3 days if you need us to.

If you are even thinking about selling, give us a call.  Even if we can’t buy your house we can probably give you some ideas that you haven’t considered.  Call us today at 806-359-7653 or visit us at We Buy Amarillo Houses

Sell Your House to an Investor or List with a Realtor? | Amarillo TX Real Estate

Tuesday, April 19th, 2011

I get a lot of calls from people who are trying to decide whether to list with a Realtor or sell to a Real Estate Investor.  It really just depends on the situation.  There are advantages to both.  People are worried that it may take months to get their house sold, and for good reason.  The housing market in Amarillo is not as bad as some parts of the country, but it is not as good as it used to be.

But there has been some good news recently in the housing market.  CoreLogic reported that home prices fell again in February, but the price drops appeared mostly with distressed sales–short sales and bank-owned homes, otherwise known as REO properties. Excluding these, the CoreLogic index was essentially flat, down just 0.1% versus a year ago. Their Chief Economist commented, “When you remove distressed properties from the equation, we’re seeing a significantly reduced pace of depreciation and greater stability in many markets.” During the month, 6 out of 10 of the country’s biggest markets saw home price APPRECIATION in non-distressed sales.

So what does this mean to the average homeowner in Amarillo TX?  Well, to me, this says that there are really two housing markets.  One for pretty houses and one for houses that need work.  I say this to people over and over.  If you have a house that is in good condition, in a good neighborhood, and you have months for it to sell, then listing with a Realtor is the way to go.  Keep in mind that you will end up paying around 6% in Realtor fees, about 1% in your closing costs, and usually 3% in buyers closing costs.  You will probably get hit with a list of repairs that you will need to make.  You will have holding costs for the time that it sits on the market.  But in the end you will come out ahead.

But what if you have a house that needs work and you can’t afford to make the repairs?  What if you can’t wait for months for it to sell?  That is when it may be best to sell to an investor.

When the housing market was at its peak, distressed properties could be sold without too much trouble.  But now mainly because of Foreclosures the market is flooded with ‘fixer-uppers.’  Whereas before distressed houses were hard to find, now they are on every block.  This makes it very difficult to sell a distressed property on the open market.  Now there is fierce competition in this segment.  As banks keep discounting these properties in order to get them off of their books, the market just keeps getting softer.  That is why it makes sense to get an offer from an investor.

We are a local husband and wife team who specialize in buying houses in the Amarillo area.  Why should you work with us?

  1. We are super easy to work with! We make sure you understand all of your options.
  2. We pay cash!  You don’t have to worry about long drawn-out bank approvals.
  3. We close whenever you want! You are in complete control.
  4. We buy property in as is condition. You don’t have to fix anything or clean anything!
  5. We don’t put a sign in your yard and try to sell your house to other buyers. WE BUY IT!

If you have a house that needs a lot of work, or you have a house that you need to sell fast, call us today at 806-359-7653 or visit us online atAmarillo Real Estate Investors.

Are Amarillo Real Estate Investors Con Artists?

Friday, April 8th, 2011

When I tell people that I am a Real Estate Investor most of the time it is pretty well received.  But sometimes people give me the evil eye.  It’s almost like I just told them that I am a drug dealer or something!  I often hear people saying that Real Estate Investors try to steal houses or that they are low-ballers.  I really don’t understand why some people think that.  They are just like any other small business owners.  They are just trying to make a living.  Sure there are bad ones out there, but there are also plenty of good ones.  Before you jump to conclusions, here are a few things that you might want to consider:

  1. Real Estate Investors work with smaller profit margins than most other retail businesses.  Most houses are purchased by investors for around 70-75% of value.  Then they spend money rehabbing the property.  They also have to pay taxes, insurance, and make payments until the property sells.  When it sells they will usually end up paying most of the new buyer’s closing costs plus a 6% Realtor commission.  They will also have their own closing costs to pay.  When all the dust settles, most Investors will end up making around 5-10% on the total deal.  This is not a very good return when you consider the tremendous amount of risk that is involved.  Realtors make 6% and have no risk.  Most retail stores have between a 30% and 50% mark up, if not more.  Car dealers buy your trade in for $10,000 and sell it for $14,000.  These margins are much better than the margins that Real Estate Investors work with.
  1. Price is not the only thing to consider in a transaction.  Think about a convenience store.  You pay more for items in a convenience store then you do in a grocery store, but you can get what you need right now!  It is more convenient.  People always pay more for convenience.  People will knowingly accept less for their house if they can have their money in 3 days instead of 3 months.  The same applies to someone who is trades their vehicle to the dealer instead of selling it on their own.  They receive the wholesale value but they don’t have wait for their car to sell.  Each person sells for his or her own reasons.  Sometimes convenience or timing can be more important than price.
  1. Real Estate Investors help the economy and provide an invaluable service to the community.  They buy houses that are not desirable.   They remodel these houses, increase the value, and sell them.  By transforming these run-down houses they increase the value of the entire neighborhood.   This is a good thing, especially if you live next door to the distressed house.  In many blue collar neighborhoods rehabbers account for a huge portion of the houses that are sold.  So the bottom line is that Real Estate Investors increase home values and sell lots of houses.  According to the National Association of Realtors, two jobs are created for every house that is sold.  Every house that is sold pumps nearly $60,000 into the economy.  Real Estate Investors help drive the housing market.
  1. Real Estate Investors provide affordable housing.  If it weren’t for these investors there would be no rent houses.  Imagine that… a world without rentals.  There are a lot of people who would be in trouble.  I mean, who hasn’t lived in a rent house at one time or another.

Every month I get calls from people who live in small towns where there are no Real Estate Investors.  These people are desperate for someone to buy their house.  They have some sort of emergency and need to sell as fast as possible.  Their house is in such bad condition that it cannot be sold to a home owner.  Unfortunately I can’t help them.  Most critics of Real Estate Investors forget that not everyone has a house in a good neighborhood that is in perfect condition.  Not everyone can wait for six months for their house to sell.  Most critics have never faced foreclosure, loss of income, bankruptcy, or divorce.  They have never walked in the shoes of people who are facing desperate situations.  Thank goodness there are a few good Real Estate Investors in Amarillo.

If your house needs a lot of work or if you need to sell it fast give us a call.  We can buy your house and close in less than a week.  We are members of the better business bureau and have tons of references.  Call us at 806-359-7653 or visit us on line at Amarillo Real Estate Investors.

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Contact Information

4105 SW 34th St, Amarillo, TX 79109 | 806-359-7653

wade@mitchellpropertygroup.com | emmy@mitchellpropertygroup.com