Seller
inventories seem to continue to tighten somewhat, as we continue to see
multiple offers come quickly on the most attractive properties. There are still
good deals to be had for flippers and for buy-and-hold investors, but the
ability to move quickly and the willingness to bid at or even sometimes above
the listing price have become keys to winning the more attractive properties.
Both of these things turn on solid, prompt analysis of comparable recent sales
and other active listings. What difference does it really make if you bid
$115,000 on a property listed for $107,000, IF THE RECENT COMPS POINT TO AN ARV
OF $145,000? The difference is usually who gets the property. And if ARV is
still $30,000 above the contract price, it is still a winner of a transaction.
So the need to be flexible and nimble has become more important than ever
before.
Here are summaries of the 11 suggestions for this week, bearing in mind again that not all suggestions are meant for all investor types. I try to choose a variety of properties to meet a variety of investor strategies:
#1 - MLS 3011857 - 4BR/3.5BA home with 2,861 sq.ft. of HLA; this is a HUD REO, but HUD has recently reduced its owner-occupant preference period on most properties from 30 days to 15 days. This one has 12 DOM today. It is located in the desirable Matthews/Weddington area on .96 acre. Listing price is $245,000 with a tax value of $309,040.
#2 - 3012896 - 4/2.5 with a huge 4,255 sq.ft. of HLA built in 2006. This one is also in the Matthews/Union County area. It is a HUBZU "auction" property (which I generally take with a grain of salt), but the purported starting bid is $220,000 and the tax value of this one is $375,830.
#3 - 3014121 - 4/3 in Monroe (28112) with 3,340 sq.ft. of HLA on .57 acre lot; the home was built in 1951, but is listed at only $99,900 with a tax value of $188,350.
#4 - 3009316 - 3/2.5 in zip code 28212 (Idlewild Brooke subdivision), built in 1987 with 1,809 sq.ft. of HLA; priced at $84,900 with a tax value of $110,000.
#5 - 3001961 - 3/2 also in zip code 28212 built in 1989 with 1,662 sq.ft. of HLA, priced at $71,000 with a tax value of $110,200.
#6 - 3013037 - Windsor Park 3/1.5 built in 1969 with 1,227 sq.ft. listed for $44,900 with a tax value of $102,000. Many of you flippers know that some of these older 3/1.5's can be pretty easily converted to 3/2's, using a hallway closet or something similar.
#7 - 2207187 - 3/2.5 built in 2001 in Crestdale Crossing in Matthews (very good school assignments-- Matthews Elementary/Crestdale MS and Butler HS); this one would make probably generate a nice rental yield and would appreciate nicely over time. Listing price is $114,000, which is quite unusual for a home this new with these school assignments.
#8 - 2203171 - 5BR/2BA HUD home with 82 days on the market in zip code 28269 (North Charlotte), priced at $63,000 with a tax value of $107,400.
#9 - 3005072 - 3/2.5 in the Candlewyck subdivision of South Charlotte (also excellent school assignments- Olde Providence Elementary, Carmel MS and Myers Park HS), with 1,901 sq.ft. of HLA; priced at $172,000. This one also has good potential as a low-risk buy-and-hold with the expectation of good appreciation over time.
#10 - 2191990 - 3/2 built in 2010 in Monroe (28112) on .96 acre; it has 1,426 sq.ft. of HLA and is priced at $114,900 after 289 DOM; tax value is $161,520.
#11- 2210688 - 3/3 in North Charlotte (28269) built in 1996; 1,415 sq.ft. of HLA; priced at $85,900 with a tax value of $146,600.
As always, if you have any questions about these or any other properties... or you would like to see any of these while they last, please don't hesitate to contact me. Be sure to visit my web site to search the entire Charlotte area MLS system... foreclosures, short sales, Fannie Mae, Freddie Mac, etc... for free: www.EricDorerRealEstate.com.
Click the following link to view the Residential:
http://matrix.carolinamls.com/DE.asp?k=331416b7GJ&p=DE-1083115-642
Eric J. Dorer, BS, JD
Realtor/ Broker
NAR Certified Short Sales and Foreclosures Resoure
2740 Oxborough Drive
Matthews, NC 28105-8852
(980)875-0950
Fax: (877)362-0917
e-mail: ejdorer@gmail.com
website: www.EricDorerRealEstate.com
Blog: http://ejdorer.blogspot.com
Here are summaries of the 11 suggestions for this week, bearing in mind again that not all suggestions are meant for all investor types. I try to choose a variety of properties to meet a variety of investor strategies:
#1 - MLS 3011857 - 4BR/3.5BA home with 2,861 sq.ft. of HLA; this is a HUD REO, but HUD has recently reduced its owner-occupant preference period on most properties from 30 days to 15 days. This one has 12 DOM today. It is located in the desirable Matthews/Weddington area on .96 acre. Listing price is $245,000 with a tax value of $309,040.
#2 - 3012896 - 4/2.5 with a huge 4,255 sq.ft. of HLA built in 2006. This one is also in the Matthews/Union County area. It is a HUBZU "auction" property (which I generally take with a grain of salt), but the purported starting bid is $220,000 and the tax value of this one is $375,830.
#3 - 3014121 - 4/3 in Monroe (28112) with 3,340 sq.ft. of HLA on .57 acre lot; the home was built in 1951, but is listed at only $99,900 with a tax value of $188,350.
#4 - 3009316 - 3/2.5 in zip code 28212 (Idlewild Brooke subdivision), built in 1987 with 1,809 sq.ft. of HLA; priced at $84,900 with a tax value of $110,000.
#5 - 3001961 - 3/2 also in zip code 28212 built in 1989 with 1,662 sq.ft. of HLA, priced at $71,000 with a tax value of $110,200.
#6 - 3013037 - Windsor Park 3/1.5 built in 1969 with 1,227 sq.ft. listed for $44,900 with a tax value of $102,000. Many of you flippers know that some of these older 3/1.5's can be pretty easily converted to 3/2's, using a hallway closet or something similar.
#7 - 2207187 - 3/2.5 built in 2001 in Crestdale Crossing in Matthews (very good school assignments-- Matthews Elementary/Crestdale MS and Butler HS); this one would make probably generate a nice rental yield and would appreciate nicely over time. Listing price is $114,000, which is quite unusual for a home this new with these school assignments.
#8 - 2203171 - 5BR/2BA HUD home with 82 days on the market in zip code 28269 (North Charlotte), priced at $63,000 with a tax value of $107,400.
#9 - 3005072 - 3/2.5 in the Candlewyck subdivision of South Charlotte (also excellent school assignments- Olde Providence Elementary, Carmel MS and Myers Park HS), with 1,901 sq.ft. of HLA; priced at $172,000. This one also has good potential as a low-risk buy-and-hold with the expectation of good appreciation over time.
#10 - 2191990 - 3/2 built in 2010 in Monroe (28112) on .96 acre; it has 1,426 sq.ft. of HLA and is priced at $114,900 after 289 DOM; tax value is $161,520.
#11- 2210688 - 3/3 in North Charlotte (28269) built in 1996; 1,415 sq.ft. of HLA; priced at $85,900 with a tax value of $146,600.
As always, if you have any questions about these or any other properties... or you would like to see any of these while they last, please don't hesitate to contact me. Be sure to visit my web site to search the entire Charlotte area MLS system... foreclosures, short sales, Fannie Mae, Freddie Mac, etc... for free: www.EricDorerRealEstate.com.
Click the following link to view the Residential:
http://matrix.carolinamls.com/DE.asp?k=331416b7GJ&p=DE-1083115-642
Eric J. Dorer, BS, JD
Realtor/ Broker
NAR Certified Short Sales and Foreclosures Resoure
2740 Oxborough Drive
Matthews, NC 28105-8852
(980)875-0950
Fax: (877)362-0917
e-mail: ejdorer@gmail.com
website: www.EricDorerRealEstate.com
Blog: http://ejdorer.blogspot.com
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