This newsletter sees a modest continuation in
the decline of buyer activity. Once again there are several Fannie Mae
properties that have been available extended periods of time. That was quite
unusual six months ago. Part of this may be seasonal... part of it may be the
general dampening effects on the economy of Obamacare and the government shut
down of a month or so ago. Part of it may be the rumoring impending Federal
Reserve "tapering" of its bond purchases. Whatever the causes, the
market is not quite as active as was six months ago, although the best
opportunities continue to be quickly swallowed up.
This list contains 14 suggestions. Again, I try to find properties that will match a wide variety of investor strategies and geographical areas. A few summaries follow below, but as always, the fact that I summarize one property and not another on the list below does not imply I favor one over another. Please review the full MLS reports for each property and draw your own conclusions.
#1 on the list - MLS 2183959 - 4BR/3BA in South Charlotte (zip code 28270) assigned to East Mecklenburg HS; this is a Fannie Mae REO with 71 days on the market; it has been reduced to $119,900 with a tax value of $159,900.
#2 - MLS 2182533 - 4/3 on .40 acre lot in Sardis Hills (SE Charlotte); this is also a Fannie Mae REO and it has been on the market 83 days today; it has been reduced to $159,900 and has a tax value of $234,400.
#3 - 2195116 - 2/2.5 townhouse in zip code 28227; HOA dues are $135/month; this is a short sale for those who have the patience; asking price is $55,000 with a tax value of $77,600.
#4 - 2181324 - Another Fannie Mae REO with 4 bedrooms and 3 full baths in the established Montclaire subdivision; this one has 84 DOM and has been reduced to $109,900. Tax value is $150,300.
#5 - 2194386 - 3/2 on over 2 acres in northern Monroe; this one is an Estate sale and probably needs a lot of updating, but its mid-20th century architecture is interesting and has become popular again; it is listed at $129,000 with a tax value of $172,230.
#6 - 2182742 - 4/2.5 in North Charlotte; another Fanne Mae REO; this one has 77 DOM and has been reduced to $138,900 with a tax value of $165,600.
#11 on the list - 2180273 - Matthews 4/2.5 on .63 acre lot (assigned to Butler HS); this is not an REO, but the seller is "motivated." It is priced at $177,000 with a tax value of $228,300.
#14 on the list - 2195818 - 3BR/1BA in the Starmount subdivision (close to shopping, light rail and Uptown); this is a Fannie Mae REO with 7 DOM (will be available to investors on day 15); many of these older homes are configured so that an additional bath is not a major expense to add, and this is a popular location. It is priced at $113,995 with a tax value of $141,300.
As always, if you have any questions about any of the homes on this investor suggestion list, please do not hesitate to contact me. There will probably not be another newsletter until after Christmas, so I want to express my best wishes to you and your families for a happy, healthy and prosperous holiday season.
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.
XPROP - Customer
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
This list contains 14 suggestions. Again, I try to find properties that will match a wide variety of investor strategies and geographical areas. A few summaries follow below, but as always, the fact that I summarize one property and not another on the list below does not imply I favor one over another. Please review the full MLS reports for each property and draw your own conclusions.
#1 on the list - MLS 2183959 - 4BR/3BA in South Charlotte (zip code 28270) assigned to East Mecklenburg HS; this is a Fannie Mae REO with 71 days on the market; it has been reduced to $119,900 with a tax value of $159,900.
#2 - MLS 2182533 - 4/3 on .40 acre lot in Sardis Hills (SE Charlotte); this is also a Fannie Mae REO and it has been on the market 83 days today; it has been reduced to $159,900 and has a tax value of $234,400.
#3 - 2195116 - 2/2.5 townhouse in zip code 28227; HOA dues are $135/month; this is a short sale for those who have the patience; asking price is $55,000 with a tax value of $77,600.
#4 - 2181324 - Another Fannie Mae REO with 4 bedrooms and 3 full baths in the established Montclaire subdivision; this one has 84 DOM and has been reduced to $109,900. Tax value is $150,300.
#5 - 2194386 - 3/2 on over 2 acres in northern Monroe; this one is an Estate sale and probably needs a lot of updating, but its mid-20th century architecture is interesting and has become popular again; it is listed at $129,000 with a tax value of $172,230.
#6 - 2182742 - 4/2.5 in North Charlotte; another Fanne Mae REO; this one has 77 DOM and has been reduced to $138,900 with a tax value of $165,600.
#11 on the list - 2180273 - Matthews 4/2.5 on .63 acre lot (assigned to Butler HS); this is not an REO, but the seller is "motivated." It is priced at $177,000 with a tax value of $228,300.
#14 on the list - 2195818 - 3BR/1BA in the Starmount subdivision (close to shopping, light rail and Uptown); this is a Fannie Mae REO with 7 DOM (will be available to investors on day 15); many of these older homes are configured so that an additional bath is not a major expense to add, and this is a popular location. It is priced at $113,995 with a tax value of $141,300.
As always, if you have any questions about any of the homes on this investor suggestion list, please do not hesitate to contact me. There will probably not be another newsletter until after Christmas, so I want to express my best wishes to you and your families for a happy, healthy and prosperous holiday season.
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.
XPROP - Customer
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
