Charlotte Area Real Estate Best Buys: Charlotte Area Investor List and Real Estate "Best Buys" for February 2015

Hello everyone. I hope your 2015 is off to a good start. The investor market for Charlotte real estate continues to be strong, seeing gradual increases in property values and slightly smaller REO inventories. Of course, as most of you know, that translates into more buyers for fewer discounted properties; and multiple offers on the best properties continue to be the norm. We know how to position ourselves to make timely offers on these properties, and to analyze them so that we can be reasonably certain we are not offering too much (or so little that our offers have little chance of being accepted). It continues to be all about doing your homework and positioning yourself to act quickly. No emotion involved here; no frenzied rush to get another property under contract. But knowing when to “pull the trigger” is key, just as knowing when to stop bidding and let the next guy take the property is critical to success—whether your strategy is buy-hold-and-rent or fast flip.

Having said that, here are summaries of several properties that might offer good opportunities for you, depending on your goals. (Please recall that when you click the link below, if a single line display appears, itemizing properties by MLS number and address, look in the upper right corner of the screen for a tab labeled “Disply.” Click that tab and choose full report with photos. The screen should then display full MLS reports with photos for each of these properties):

#1 on the list – MLS Number 3020484 – 3BR/2 BA with 2,334 sq.ft. in zip code 28214 – this REO must have some “issues” because the listing states they will not turn on utilities and the sale is strictly “as is.” Listing price is $69,900 with a tax value of $159,900.

#2 – 3044476 – Back on the Market after a contract failed, this 3/2 Fannie Mae REO is in north Charlotte (zip code 28212) and is priced at $109,900 with a tax value of $133,200.

#3 – 3052656 – 3/2 Fannie Mae REO in the Mint Hill/SE Charlotte area (zip code 28227) on .33 acre lot; this one is also back on the market after a contact failed. Listing price is $72,000 with a tax value of $111,700.

#4 – 3054391 – 5 Bedroom/2.5 Bath REO with 2,256 sq.ft. of HLA and a 2-car garage. This home was built in 2008. Listing price is $144,900 with a tax value of $177,500.

#5 – 3060103 – 3/2 in desirable Matthews with 2-car garage listed at $139,500 with a tax value of $151,505. School assignments are good in Matthews so this might make a nice rental property.

#6 – 3059427 – 3/2.5 HUD REO in Indian Trail. This property has 1,810 sq.ft., a 2-car garage and was built in 2000. Listing price is $132,000 with a tax value of $154,640.

#7 – 3057318 – 3/2.5 with 2,011 sq.ft. in South Charlotte (28226); this Fannie Mae REO has 19 days on the market on the date of this publication and is priced at $124,900 with a tax value of $162,100.

#8 – 3053050 – 3/2 full brick home near Uptown (28205) listed at $109,000. This one is not an REO or short sale, but some of you like this area.

#9 – 3053966 – 4/2.5 built in 2006 in zip code 28214. This 1,712 sq.ft. home is a Chase REO, listed at $108,900 with a tax value of $145,800.

#10 – 3058734 – 3/2 also in the South Charlotte zip code 28226; this REO with 1,500 sq.ft. and a 2-car garage is listed at $107,500 with tax value of $151,500.

#11 – 3056173 – 3/2.5 in zip code 28217 already has received multiple offers; listing price is $104,900 with a tax value of $121,300.

#12 – 3056190 – 3/2 in 28214, this one is a foreclosure in process (expected completion is 4/10/2015, so closing could not occur before that date); listed at $99,800 with $150,500 tax value.

#13 – 3056355 – 4BR/1.5 BA Fannie Mae REO in North Charlotte (28269) with a listing price of $84,900 and a tax value of $100,600.

#14 – 3058748 – 3/2 in North Charlotte (28212); this REO is listed at $55,600 with a tax value of $87,900.

Click the following link to view the Residential:
http://matrix.carolinamls.com/DE.asp?k=331377XSXZH&p=DE-6341089-427

As always, if you have any questions about these or any other properties, please don’t hesitate to contact me.