Stock Market is Being "Hammered" This Week... Back to Real Estate... Here is My Charlotte Area Investor Suggestion List for 6/21/2013

As the stock market closes the day I am writing this, the DOW is down over 350 points!  Once again, real estate looks like a safer investment, rather than a roll of the dice.  Here is my Charlotte Real Estate Investor Suggestion List for the period ending 6/21/2013. As always, I recognize that different investors prefer different areas and various investment strategies. I therefore try to find properties to suit a variety of goals in various areas of greater Charlotte. A summary of this week's selections follows:

#1 - MLS 2158046 - 3BR/2BA with basement and 2-car garage on .54 acre lot in Gastonia, for those of you who prefer Gaston County. Listing price is $149,900 with a tax value of $208,739.

#2 - 2155867 - 3/2.5 short sale in Mint Hill, priced at $74,500 with a tax value of $103,600, for those who look for lower-end/potentially higher yielding properties.

#3 - 2147419 - 2/2.5 townhouse in Cotswold Glen; this is a short sale in a great area. The HOA dues are $140/month. Asking price has been reduced to $115,000 with a tax value of $120,400.

#4 - 2159442 - 3/2 in the Charlotte/Mint Hill border area (28227) priced at $91,900. With only a $750/month rental price and a purchase price of $90,000, this would generate a gross yield of 10%.

#5 - 2142628 - 3/2 with 2-car garage on .55 acre lot in north Charlotte; reduced to $59,900 with a tax value of $99,200. I haven't seen this one yet, but as long as there are no major repairs or structural issues, this might be a nice fast fix-and-flip for those mobilized to do this.

#6 - 2159551 - 4/2.5 with 2-car garage in Ballantyne area (Ardrey Kell HS) in Southampton Commons; priced at $200,000; if this rented at $1,650, it would generate a gross yield of 9.9% on the full listing price and present a good, low risk investor property with room for appreciation as the market continues to recover.

#7 - 2160031 - 3/2 Ballantyne area (Ardey Kell High School) REO in need of fairly substantial rehab; it has already received multiple offers with a listing price of $135,000 and a tax value of $191,200.

#8 - 2132027 - 3/2.5 Cornelius Fannie Mae REO with 225 cumulative days on the market; reduced to $189,900 with a tax value of $240,400.

#9 - 2132699 - 4/2.5 in north Charlotte with a reduced LP of $145,000 and a tax value of $173,200.

#10 - 2131583 - 4/2 in zip code 28277 (good school assignments: South Charlotte Middle/South Meck HS); reduced to $189,900 with a tax value of $211,700.

#11 - 2152279 - 3/2 Fannie Mae REO in Sharon Forest community with 40 DOM; reduced to $88,000 with a tax value of $122,100.

#12 - 2141654 - 2/2 Ballantyne area condo; this is a HUD property with 53 DOM (it is now available to investors); reduced to $84,600 with a tax value of $97,800.

As always, if you have any questions or would like to see any of these properties, please don't hesitate to contact me.

Click the Hyperlink below to link to and view property listing(s) of interest. If after clicking the link, your Internet browser does not launch, right click on the link and Copy the Shortcut. Then paste the Shortcut into your browser's Address Field.

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Charlotte Area Real Estate Investor Suggestion List for June 8, 2013

I circulate a weekly Charlotte area real estate investor suggestion list to subscribers, and since I spend a significant amount of time compiling and researching properties for this list, I have decided to publish it on my blog.  Let me know if you find it interesting, and if you have any questions.

Here is this week's Charlotte area real estate investor suggestion list. As usual, I try to find interesting prospects to meet most investor strategies. A summary of the 11 properties on this week's list follows:

#1 - MLS 2157533 - 3BR/1.5 BA in Eastway Park; this REO is an older "fixer", priced accordingly at $92,000 with a tax value of $152,500. Many of these homes have a half bath that can easily be converted to a full bath.

#2 - 2149030 - 3/2 Fannie Mae REO in Indian Trail reduced to $141,900 after 43 DOM; fax value of $165,580.

#3 - 2145376 - 4/3.5 on .48 acre in highly desirable Providence Plantation (top school assignments, including Providence HS); this short sale has been reduced to $325,000 with a tax value of $405,700.

#4 - 2136538 - 5BR/4.5 BA in another prestigious S. Charlotte community; this one is situated on .90 acre lot and has been reduced to $644,500 after 93 DOM; tax value is $876,600.

#5 - 2147668 - 3/2 in Mooresville (Lake Norman area); this Fannie Mae REO was built in 2003, has been reduced to $175,000 after 43 DOM and has a tax value of $192,760.

#6 - 2157923 - 3/2.5 in the Traewyck community in Indian Trail, close to Charlotte and 485, is assigned to Sun Valley schools and is priced at $139,000 with a tax value of $145,570.

#7 - 2152835 - 3/2 on .30 acre in Gastonia was asking $113,050 when it was first listed, the price has been raised to $199,000 but the first price should give you an idea of the range they are looking to contract in; this is an REO owned by a subprime lender with a tax value of $126,870.

#8 - 2158368 - 3/2.5 in Callonwood with only 2 DOM. It is a smaller home, but like #9, it is assigned to top-performing schools. In this case, Weddington MS and HS, and that will command a high rental value; priced at $184,750 with a tax value of $185,790. But if this one rented at $1,600, gross yield on $185,000 would be 10.3% on a "low risk" investment.

#9 - 2152299 - 3/2.5 in Southampton Commons (S. Charlotte/Ballantyne area), assigned to top performing Ardey Kell HS; again, this is not a large home, but it would rent at a premium due to location, the values of surrounding properties and school assignments. It is priced at $189,000 with 20 DOM and has a tax value of $191,100. It is another "low risk" property that should generate a gross yield around 10%.

#10- 2145667 - Large 5BR/2.5 home in Indian Trail's Shiloh Trace community, reduced to $200,000 after 57 DOM, it has a tax value of $232,050 and is assigned to the Sun Valley schools.

#11- 2158747 - this 4/2.5 is located in the Prestwick/Matthews- Union County community, also assigned to Sun Valley schools. It is listed at $189,500 with a tax value of $223,080.

As always, if you have any questions or would like to see these or any other properties, please don't hesitate to contact me.

Click the Hyperlink below to link to and view property listing(s) of interest. If after clicking the link, your Internet browser does not launch, right click on the link and Copy the Shortcut. Then paste the Shortcut into your browser's Address Field.

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Eric J. Dorer, B.S., J.D.
NC/SC Broker/Realtor®
Eric J. Dorer Real Estate
2740 Oxborough Drive
Matthews, NC 28105
Tel: (980)875-0950