My
apologies for the long delay between investor newsletters. The market heated up
significantly for a while, and has only recently slowed a bit for some reason
unknown to me. As those of you who do this actively already know, there are
still enough buyers for those "good deals" that the best of them
continue to receive multiple offers and sometimes go under contract above the
listing price. But those sellers of REO inventory who were beginning to price
their properties higher in the expectation of buyers rushing to bid on anything
even remotely attractive have begun to get a bit more realistic with their
listing prices as the market seems to have slowed slightly.
"Retail" buyers continue to have difficulty securing financing, and this continues to impact sellers of flip properties. But there remain good deals out there for those who are willing to look for them, whether your strategy is a fast flip or rent-and-hold. The link below will take you to a few suggestions. Brief summaries follow:
#1- MLS 3022948 - a 3BR/2.5BA REO with 2,620 sq.ft. of HLA in an upscale area of Charlotte closer to Uptown (zip code 28226), assigned to desirable Myers Park High School. Listing price is $339,900 with a tax value of $420,000.
#2 - 3005584 - 4/2.5 Fannie Mae REO with 2,539 sq.ft. of HLA inside the exclusive Providence Park subdivision in South Charlotte/Matthews. This REO is assigned to top performing schools, including Providence HS. Listing price is $191,000, with a tax value of $242,100. ARV should exceed $250,000.
#3 - 3031029 - 3/2.5 cottage in the popular Third Ward in Uptown. This one has 2,562 sq.ft. of HLA, 3BR/2.5BA and is priced at $165,000 with a tax value of $233,200.
#4 - 3028454 - 3/2.5 built in 2006, located in Saint John's Forest (northern Monroe - 28110). This Fannie Mae REO has 2,262 sq.ft. of HLA and is priced at $159,000, with a $209,650 tax value.
#5 - 3028424 - 4/2.5 in zip code 28273, priced at $135,000 with a tax value of $173,500.
#6 - 3027911 - 3/2 HUD REO in Kannapolis with 15 DOM today (available to investors tomorrow); listing price is $110,000 with a tax value of $134,120. These homes in the $100,000+/- range usually generate good rental yield and also provide for decent upside upon resale. The next several on this list fall into that category.
#7 - 3029727 - 3/2 in Indian Trail priced at $107,900, with a tax value of $123,700.
#8 - 3009415 - 3/2.5 in north Charlotte (28269) priced at $106,900 with a tax value of $124,300.
#9 - 3027548 - 3/2 built in 2003 in Kannapolis, priced at $104,900 with a tax value of $131,210.
#10 - 3027753 - 3/3 built in 2004 located in north Charlotte (28269), purportedly with significant renovations already completed. It is priced at $99,500 with a tax value of $142,900.
#11 - 3030804 - 31 in northern Monroe (28110); this Fannie Mae REO is priced at $84,900 with a tax value of $154,600.
#12 - 3030322 - 3/2 in Concord priced at $77,500 with a tax value of $139,290.
#13 - 3006218 - 5/3 in REO in Mint Hill, built in 1973 on a 1.23 acre lot. It is priced at $179,900 with a tax value of $219,200.
If you would like more information on any of these properties, or you would like to see these or any other properties, please don't hesitate to contact me. You can also search the entire Charlotte area MLS on my web site at www.EricDorerRealEstate.com.
NOTE: If you have trouble viewing the full reports for each of these properties, look for a tab near the top left of the page labeled "Display." Click that tab and choose full report with photos.
Click the following link to view the Residential:
http://matrix.carolinamls.com/DE.asp?k=331445NHLK&p=DE-2825154-663
"Retail" buyers continue to have difficulty securing financing, and this continues to impact sellers of flip properties. But there remain good deals out there for those who are willing to look for them, whether your strategy is a fast flip or rent-and-hold. The link below will take you to a few suggestions. Brief summaries follow:
#1- MLS 3022948 - a 3BR/2.5BA REO with 2,620 sq.ft. of HLA in an upscale area of Charlotte closer to Uptown (zip code 28226), assigned to desirable Myers Park High School. Listing price is $339,900 with a tax value of $420,000.
#2 - 3005584 - 4/2.5 Fannie Mae REO with 2,539 sq.ft. of HLA inside the exclusive Providence Park subdivision in South Charlotte/Matthews. This REO is assigned to top performing schools, including Providence HS. Listing price is $191,000, with a tax value of $242,100. ARV should exceed $250,000.
#3 - 3031029 - 3/2.5 cottage in the popular Third Ward in Uptown. This one has 2,562 sq.ft. of HLA, 3BR/2.5BA and is priced at $165,000 with a tax value of $233,200.
#4 - 3028454 - 3/2.5 built in 2006, located in Saint John's Forest (northern Monroe - 28110). This Fannie Mae REO has 2,262 sq.ft. of HLA and is priced at $159,000, with a $209,650 tax value.
#5 - 3028424 - 4/2.5 in zip code 28273, priced at $135,000 with a tax value of $173,500.
#6 - 3027911 - 3/2 HUD REO in Kannapolis with 15 DOM today (available to investors tomorrow); listing price is $110,000 with a tax value of $134,120. These homes in the $100,000+/- range usually generate good rental yield and also provide for decent upside upon resale. The next several on this list fall into that category.
#7 - 3029727 - 3/2 in Indian Trail priced at $107,900, with a tax value of $123,700.
#8 - 3009415 - 3/2.5 in north Charlotte (28269) priced at $106,900 with a tax value of $124,300.
#9 - 3027548 - 3/2 built in 2003 in Kannapolis, priced at $104,900 with a tax value of $131,210.
#10 - 3027753 - 3/3 built in 2004 located in north Charlotte (28269), purportedly with significant renovations already completed. It is priced at $99,500 with a tax value of $142,900.
#11 - 3030804 - 31 in northern Monroe (28110); this Fannie Mae REO is priced at $84,900 with a tax value of $154,600.
#12 - 3030322 - 3/2 in Concord priced at $77,500 with a tax value of $139,290.
#13 - 3006218 - 5/3 in REO in Mint Hill, built in 1973 on a 1.23 acre lot. It is priced at $179,900 with a tax value of $219,200.
If you would like more information on any of these properties, or you would like to see these or any other properties, please don't hesitate to contact me. You can also search the entire Charlotte area MLS on my web site at www.EricDorerRealEstate.com.
NOTE: If you have trouble viewing the full reports for each of these properties, look for a tab near the top left of the page labeled "Display." Click that tab and choose full report with photos.
Click the following link to view the Residential:
http://matrix.carolinamls.com/DE.asp?k=331445NHLK&p=DE-2825154-663
