Hot Bargain Property August 13, 2006
Move in Ready, Freeway Close!
General: East County, 3 Bedroom, 1.75 Bathrooms. Asking price between $450,000 and $475,000. I think $410,000 net would be enough to buy.
Why you should be interested: Well cared for attractive property in quiet neighborhood with large park, within 5 minutes of freeway. Straight shot to most employment centers, less than twenty minutes.
Selling Points: Front yard almost manicured! Remodeled kitchen with nice interior decoration! Carpet looks new!
Why I think it's a potential bargain: Vacant and on the market for months. The seller has listed with a do-nothing service.
Obvious caveats: Garage floor has a crack, although I don't think that's the same pour as the foundation, but you'd want a qualified building inspector to make certain.
Why it hasn't sold already: I am not seeing any evidence that the discount lister has done anything to earn any money. It's just had a price reduction to something vaguely reasonable.
If you keep it ten years and it averages only 5% annual average appreciation per year: Based upon a purchase price of $410,000, it would be worth approximately $660,000. If you held it those ten years before selling, you would net about $320,000 in your pocket, assuming zero down payment. As opposed to renting the $1800 per month most comparable current rental and investing the difference at 10% per year tax free, you would be approximately $140,000 ahead of the renter, after the expenses of selling.
Fact you should be aware of: There is a crack in the garage floor. I don't think it's part of house foundation, but you want a qualified inspector to make certain.
Obvious way to enhance value or appeal of property: Not much comes to mind. It's move in ready.
I'm a buyer's Realtor®. I find places like this that can be gotten at bargain prices. I save you money while getting paid out of the listing agent's commission, not costing you a penny. Nor are these the only ones I find. In order to protect everyone's best interests, I require a Non-Exclusive Buyer's Agent Agreement. This is a standard California Association of Realtors form that leaves you are free to work with other agents, but if I find the property you want, I'm the agent you'll use. That's fair.
Contact me: Action Realty 619-449-0723, ask for Dan or email danmelson (at) danmelson (dot) com.
Buy My Science Fiction Novels!
Dan Melson Author Page
The Man From Empire
A Guardian From Earth
Empire and Earth
Working The Trenches
Preparing The Ground
The Book on Mortgages Everyone Should Have!
What Consumers Need To Know About Mortgages
The Book on Buying Real Estate Everyone Should Have
What Consumers Need To Know About Buying Real Estate
Want San Diego MLS?
Add to Technorati Favorites