After a bit of a delay, here is my Charlotte
area real estate investor suggestion list for November 19, 2013. I continue to
note a modest "cooling" in the market from the activity of six months
ago. REO properties tend to remain in seller inventories a bit longer. Multiple
offers are still common, but the extent to which some buyers are willing to go
to get a property under contract has diminished a bit. It was common 6 months
ago to find that most Fannie Mae properties received multiple offers on the day
they became available to investors-- day 15 on the market). But you will note
in this investor list several Fannie Mae properties that have been on the
market more than 100 days.
As always, I try to place properties on this list that appeal to a broad range of investor strategies, from fast flip to renovate, rent and hold. They also cover a large geographical area of metropolitan Charlotte. There are 19 properties on this list and I therefore do not have the space in this email to summarize each one. I will let the MLS reports accessible via the link below speak for the properties. Pay attention to listing price vs. tax assessed value... location... lot size... school assignment... and check the photos to get an idea of general condition.
I have selected seven properties on the list to summarize below. Again; this does not mean I believe these 7 are "the best." I just want to highlight some of the criteria I use to place properties on the list.
#2 on the list - MLS 2143720 - 3BR/2BA JP Morgan Chase REO on .84 acre lot in Monroe. This one has been on the market 83 days today and has been reduced to $77,000. Tax value is $111,610.
#4 on the list - MLS 2160820 - 3BR/2.5 BA Fannie Mae REO in the desirable Sardis Forest community; this one has 151 DOM today and has been reduced to $162,900, with a tax value of $186,100.
#5 - MLS 2187395 - 3BR/3.5BA Fannie Mae REO with a finished basement and 2-car garage; good Matthews location and school assignments (Mint Hill MS/Butler HS); 24 DOM; priced at $132,000 with a tax value of $135,500. Rental yield would probably be good on such a low purchase price in a good area.
#7 - MLS 2189147 - 3/2 in Becton Park community (zip code 28227 - area where Charlotte and Mint Hill meet; this home appears to be move-in ready and is priced low enough that rental yield would probably be good. Listing price is $80,000 with a tax value of $92,600.
#10 - MLS 2171782 - 3/2 on .42 acre lot in Stonehaven community (zip code 28211) near Uptown and light rail; this is a Fannie Mae REO with 106 DOM; reduced to $192,000 with a tax value of $248,300. The numbers look good as a flip to me.
#15 - MLS 2157547 - 4/2 in Matthews on .63 acre lot, also assigned to good schools (Mint Hill MS/Butler HS); this is a Fannie Mae REO with 122 DOM; reduced to $118,000 with a tax value of $159,000. Bought right, this could be either a good rental or a good flip.
#18 - MLS 2191795 - 3/2 built in 2004 in the Callonwood community; this one is an Estate sale; it is assigned to highly desirable schools (including Weddington HS); it is priced at $160,000 with a tax value of $183,010.
As always, if you have any questions about any of the homes on this list, or you would like to see any of them, 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.
RES - One Page Cust Full
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
As always, I try to place properties on this list that appeal to a broad range of investor strategies, from fast flip to renovate, rent and hold. They also cover a large geographical area of metropolitan Charlotte. There are 19 properties on this list and I therefore do not have the space in this email to summarize each one. I will let the MLS reports accessible via the link below speak for the properties. Pay attention to listing price vs. tax assessed value... location... lot size... school assignment... and check the photos to get an idea of general condition.
I have selected seven properties on the list to summarize below. Again; this does not mean I believe these 7 are "the best." I just want to highlight some of the criteria I use to place properties on the list.
#2 on the list - MLS 2143720 - 3BR/2BA JP Morgan Chase REO on .84 acre lot in Monroe. This one has been on the market 83 days today and has been reduced to $77,000. Tax value is $111,610.
#4 on the list - MLS 2160820 - 3BR/2.5 BA Fannie Mae REO in the desirable Sardis Forest community; this one has 151 DOM today and has been reduced to $162,900, with a tax value of $186,100.
#5 - MLS 2187395 - 3BR/3.5BA Fannie Mae REO with a finished basement and 2-car garage; good Matthews location and school assignments (Mint Hill MS/Butler HS); 24 DOM; priced at $132,000 with a tax value of $135,500. Rental yield would probably be good on such a low purchase price in a good area.
#7 - MLS 2189147 - 3/2 in Becton Park community (zip code 28227 - area where Charlotte and Mint Hill meet; this home appears to be move-in ready and is priced low enough that rental yield would probably be good. Listing price is $80,000 with a tax value of $92,600.
#10 - MLS 2171782 - 3/2 on .42 acre lot in Stonehaven community (zip code 28211) near Uptown and light rail; this is a Fannie Mae REO with 106 DOM; reduced to $192,000 with a tax value of $248,300. The numbers look good as a flip to me.
#15 - MLS 2157547 - 4/2 in Matthews on .63 acre lot, also assigned to good schools (Mint Hill MS/Butler HS); this is a Fannie Mae REO with 122 DOM; reduced to $118,000 with a tax value of $159,000. Bought right, this could be either a good rental or a good flip.
#18 - MLS 2191795 - 3/2 built in 2004 in the Callonwood community; this one is an Estate sale; it is assigned to highly desirable schools (including Weddington HS); it is priced at $160,000 with a tax value of $183,010.
As always, if you have any questions about any of the homes on this list, or you would like to see any of them, 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.
RES - One Page Cust Full
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
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