Hot Bargain Property October 16, 2006
Big Lot and Beautiful Inside!
General: Urban East County, 3 bedroom 1 bath. Asking price between $450,000 and $475,000. I'd probably offer about $420,000 to start.
Why you should be interested: Nice home on a quiet street, with a quarter acre flat lot and huge family room. Excellent schools and close to everything.
Selling Points: Public area floors are hardwood and travertine! Both front and back yard fully fenced, front yard has mature shade tree. Family room and kitchen are gorgeous!
Why I think it's a potential bargain: These people have already moved out of town. They don't want to have to come back!
Obvious caveats: Carpet in bedrooms could use replacing.
Why it hasn't sold already: Only one bathroom, but the lot has plenty of room to add more!
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 $1650 per month most comparable current rental and investing the difference at 10% per year tax free, you would be approximately $100,000 ahead of the renter, after the expenses of selling.
Fact you should be aware of: Obviously, this is an older home, but it looks like it's in really good shape
Obvious way to enhance value or appeal of property: Add another bathroom.
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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