Hot Bargain Property September 13, 2006 (Second today!)
5 Bedrooms With a Pool!
General: Urban East County, 5 bedroom 1.75 bath. Asking price between $475,000 and $500,000. I'd start somewhere around $420,000 net.
Why you should be interested: This is a pretty nice 5 bedroom home. Vacant and on the market for months, the seller should be getting desperate by now.
Selling Points: Nice wood paneling, and a backyard pool that looks pretty new! The carpet needs replacing, but the owner has even said they'll give an allowance so you can choose your own.
Why I think it's a potential bargain: The fact that they have not replaced the carpet, when their agent knows it would make it more attractive, says volumes. These folks need money.
Obvious caveats: Just needs sprucing up.
Why it hasn't sold already: People like to see things like carpet already replaced.
If you keep it ten years and it averages only 5% annual average appreciation per year: Based upon a purchase price of $420,000, the property would be worth approximately $680,000. 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 $2400 per month most comparable current rental and investing the difference at 10% per year tax free, you would be approximately $280,000 ahead of the renter, after the expenses of selling.
Fact you should be aware of: Backyard fence could be higher.
Obvious way to enhance value or appeal of property: Water the yard, raise the backyard fence for privacy, replace the carpet.
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. Ask me to find a bargain that fits you!
Buy My Science Fiction Novels!
Dan Melson Amazon Author Page
Dan Melson Author Page Books2Read
Links to free samples here
The Man From Empire
Man From Empire Books2Read link
A Guardian From Earth
Guardian From Earth Books2Read link
Empire and Earth
Empire and Earth Books2Read link
Working The Trenches
Working the Trenches Books2Read link
Rediscovery 4 novel set
Rediscovery 4 novel set Books2Read link
Preparing The Ground
Preparing the Ground Books2Read link
Building the People
Building the People Books2Read link
Setting The Board
Setting The Board Books2Read link
Moving The Pieces
Moving The Pieces Books2Read link
The Invention of Motherhood
Invention of Motherhood Books2Read link
The Price of Power
Price of Power Books2Read link
The End Of Childhood
The End of Childhood Books2Read link
Measure Of Adulthood
Measure Of Adulthood Books2Read link
The Fountains of Aescalon
The Fountains of Aescalon Books2Read link
The Monad Trap
The Monad Trap Books2Read link
The Gates To Faerie
The Gates To Faerie Books2Read link
Gifts Of The Mother
Gifts Of The Mother Books2Read link
The Book on Mortgages Everyone Should Have!
What Consumers Need To Know About Mortgages
What Consumers Need to Know About Mortgages Books2Read
The Book on Buying Real Estate Everyone Should Have
What Consumers Need To Know About Buying Real Estate
What Consumers Need to Know About Buying Real Estate Books2Read
Logical failures (straw man, ad hominem, red herring, etcetera) will be pointed out - and I hope you'll point out any such errors I make as well. If there's something you don't understand, ask.
Nonetheless, the idea of comments should be constructive. Aim them at the issue, not the individual. Consider it a challenge to make your criticism constructive. Try to be respectful. Those who make a habit of trollish behavior will be banned.
Leave a comment