Charlotte Area Real Estate Best Buys: Charlotte area real estate investors "Best Buys" for April 2015

Here is the Charlotte area real estate investor suggestion list for April, 2015. Not a great deal has changed in the market here since the beginning of 2015. The best values tend to get multiple offers within days of going onto the market. Flip resales tend to move more quickly when they are discounted from retail or full market value, so it is often a wise strategy to offer a flip at a competitive price to move it out of inventory. Even owner-occupants are diligently searching for bargain properties, so unless you can afford to have a flip on the market for a longer period of time—or unless the expected additional return on investment is worth the extended time on the market—the time value of money can mitigate in favor of a discounted resale price calculated to move the property.

For those looking to buy, rent and hold properties, there are still good values in the market. You just need to be able to move quickly because the best values don’t last long. For buy-and-hold investors, I tend to focus on stable areas assigned to schools that perform well. In those areas, the old “quick and dirty” measurement of listing price vs. tax value applies less and less to identify good values, as inventories dwindle and prices continue to move up gradually. But there remain good values to be had, and stronger appreciation in those more stable areas.

As always, my list this month attempts to identify properties that may appeal to a variety of investment strategies. The link below will take you to full MLS reports for the homes on the list. (If you first get a single-line display of properties when you click the link, look to the upper right corner of the page for a tab labelled “Display” and choose “Full Report with photos” from the drop down menu.) A brief summary of the properties on this month’s list follows:

#1 – MLS 3049510 – 3BR/3BA Freddie Mac REO with 2,517 sq.ft. of HLA in a great South Charlotte area off of Providence Road; new HVAC, paint and carpet. Good area for rentals and depending on the work needed to complete the home for resale, this one could also make a decent flip. Listing price was ecently reduced to $184.900 after a contract failed. Tax value is $229,823.

#2 – MLS 3072757 – Huge 5BR/3.5 Bath home with a 3-car garage in highly desirable Marvin (Waxhaw) on a 1.42 acre golf course lot. This REO is being offered at $675,000 with a tax value of $879,890.

#3 – 3078138 – 4BR/2.5BA with 3,503 sq.ft. of HLA in the desirable Old Stone Crossing community in north Charlotte. This one is listed at $187,000 with a tax value of $202,100.

#4 – 3077823 – Large 5BR/3 BA Fannie Mae REO with 2,900 sq.ft. of HLA in Harrisburg on .46 acre lot. Only 4 DOM as of this 4/17/2015 publication (Fannie has a 20-day owner occupant preference period, but this one looks like it needs some updating, so it might make it through that preference period); listing price is $155,000.

#5 – 3074588 – 3BR/2.5BA REO in Matthews (Callaway Plantation subdivision); excellent school assignments (Butler High School/Mint Hill Middle School) make this one a good rental prospect. LP is $149,900.

#6 – 3076618 – 3/2 Estate Sale with 2-car garage built in 2003 in a nice Concord community. Listing price is $145,000.

#7 – 3054391 – 5BR/2.5 BA REO with 2-car garage, 2,256 sq.ft. of HLA, built in 2008 in zip code 28214 (more of a working-class area, with a bit less potential for appreciation but with good potential rental yield); listed at $134,900 with tax value of $177,500.

#8 – 3076251 – 3/2 with 2-car garage on .38 acre lot on Waxhaw; this is a HUD home with 11 DOM today (HUD has a 15-day owner occupant preference period); listing price is $125,000; tax value is $156,190.

#9 – 3077088 – 3/2 with 1,540 sq.ft. of HLA in main home and a separate 1,0-33 sq.ft. structure with bath in Concord; LP is $94,999 with a tax value of $135,660.

#10 – 3074814 – 3/2 in north Charlotte (28214) with 1,591 sq.ft. of HLA; main house has 3 BR and a second structure has 3BR; lot size is .53 acre; LP is $79,900 with a tax value of $140,700.

To view reports for all of these properties, use the link below:

Click to view ALL property listings

As always, if you have any questions about any of these properties, or any other properties that might interest you, I would be happy to research them and/or show them to you. I look forward to hearing from you.

Regards,