Hot Bargain Property September 27th 2006

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Beautiful 4 Bedroom at a Great Price!



General: Urban East County, 4 bedroom 2 bath. Asking price between $425,000 and $450,000, and the comps actually support something higher. I'd start at $410,000



Why you should be interested: Beautiful, low maintenance yard! Most of the house has tile floors. Nice quiet street in an excellent neighborhood.



Selling Points: Front room is gorgeous. Low maintenance front yard, huge deck in the back.



Why I think it's a potential bargain: Just had a major price reduction. These people need to sell.



Obvious caveats: Kitchen could use some updating. Garage is full of stuff currently.



Why it hasn't sold already: It was overpriced. I doubt it's going to be there much longer.



If you keep it ten years and it averages only 5% annual average appreciation per year: Based upon a purchase price of $410,000, the property 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 $1900 per month most comparable current rental and investing the difference at 10% per year tax free, you would be approximately $180,000 ahead of the renter, after the expenses of fixing and selling.



Fact you should be aware of: This is not a fixer. The only work that really suggests itself to me is modernizing the kitchen cabinets.



Obvious way to enhance value or appeal of property: Modernize the kitchen cabinets.



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!

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This page contains a single entry by Dan Melson published on September 27, 2006 4:23 PM.

Hot Bargain Property September 26, 2006 was the previous entry in this blog.

Hot Bargain Property September 28th 2006 is the next entry in this blog.

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