Hot Bargain Property August 21st, 2006
Four Bedroom Showplace!
General: Urban East County (very close to San Diego City), 4 bedroom 1.75 bath asking price between $475,000 and $500,000. I'd start around $430,000 net, and force them to argue me up while arguing them down.
Why you should be interested: This is a refurbished older home with a large yard, close to great schools!
Selling Points: This place shows some real pride of ownership. The kitchen is gorgeous, as are the bathrooms. Plenty of yard for the kids to play in!
Why I think it's a potential bargain: This is priced under everything similar around it, it's been sitting vacant with no action for months.
Obvious caveats: I couldn't get a good look at the roof.
Why it hasn't sold already: Good question.
If you keep it ten years and it averages only 5% annual average appreciation per year: Based upon a purchase price of $450,000, it would be worth approximately $730,000. If you held it those ten years before selling, you would net about $350,000 in your pocket, assuming zero down payment. As opposed to renting the $2000 per month most comparable current rental and investing the difference at 10% per year tax free, you would be approximately $170,000 ahead of the renter, after the expenses of selling.
Fact you should be aware of: I couldn't get a good look at the roof.
Obvious way to enhance value or appeal of property: Landscaping. New Carpet in the bedrooms.
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.
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