As we rapidly reach the end
of 2015, here is the last Investor Suggestion List for the year. 2015 saw
a steady rebound in Charlotte metro area prices, and an accompanying demand for
inventory. The days of offering 60% or 70% of the listing price for a
property are probably gone for a while. There is just too much demand,
and sellers (both institutional sellers of REO inventory and private sellers)
know it. Of course, a more stable market means it is easier to resell
flip properties. But strategies that relied on purchase prices that were
hugely discounted from market value have almost certainly seen a large slowdown
in business activity. As is the case with most businesses, you need to be
nimble and adjust to market conditions. That has meant buying at smaller
discounts and selling at a smaller profit—but reselling more quickly, so that a
larger number of profitable deals are possible over the course of the
year. You can’t make any money if you are not in the game. And
those who insist on every deal being a “home run” have probably been sitting on
the sidelines for much of 2015. There are still good, profitable deals to
be had in this market—whether your business is fast flip or
rent-and-hold. But you need to know your market and do your homework, now
more than ever.
Having said that, the link
below will take you to the MLS reports for this last Investor Suggestion List
for 2015. (If you see a single line display of property addresses when
you click the link, look for the tab near the upper right corner of the page
labeled “display” and choose full report with photos). Merry Christmas,
Happy Hanukkah and best wishes for a prosperous 2016! A summary of the
properties in this edition of this newsletter follows:
#1 – MLS 3106639 – 4BR/3BA
near Lake Wylie. This REO is listed for $158,900 and has a tax value of
$189,000.
#2 – 3117047 – 3/2 in zip
code 28212 (SE Charlotte); this all brick REO is listed for $99,900 and has a
tax value of $130,600.
#3 – 3132649 – This is a very
rough 4/2.5 built in 2000 that has seen some intentional vandalism. It is
located in zip code 28213 (NE Charlotte) and is priced at $107,000 with a tax
value of $150,900.
#4 – 3051261 – This one is a
5BR/3.5 Bath Estate Sale with 3,578 sq.ft. of HLA on 1.14 acre in zip code
28213. It has been on the market more than a year and was recently
reduced to $229,900. It has a tax value of $266,900.
#5 – 3113313 – 4/3.5 with
3,386 sq.ft. of HLA on 2.32 acres with a 3-car garage. This is a Fannie
Mae REO with 95 days on the market. It is priced at $229,000 and has a
tax value of $300,700.
#6 – 3128282 – 5BR/2.5 BA
with 2,913 sq.ft. in zip code 28215. This REO has been on the market
about a month and is priced at $148,200.
#7 – 3133603 – This one might
make a good rent-and-hold property due to location and school assignment.
It is a 3/2.5 on .70 acre lot in Callaway Plantation in Matthews (assigned to
Butler HS). Listing price is $144,900.
#8 – 3121839 – 4BR/2.5 BA
built in 2008 in north Charlotte (28269) with 2,396 sq.ft. of HLA. This
REO has been on the market about 2 months and is priced at $137,900 with a tax
value of $153,500.
#9 – 3134874 – 2/2.5 in zip
code 28214 with 1,612 sq.ft. and a 1-car garage. This one is listed for
$199,000 and has a tax value of $144,600.
#10 – 3117754 – this is a 2/1
on .26 acre lot in Selwyn Park (28209), a pretty hot area for rehab and even
new custom construction because of its proximity to Uptown. This REO is
priced at $109,000 with a tax value of $161,200.
#11 – 3130860 – 3BR/2 BA on
.62 acre lot in SE Charlotte (28227). This REO is priced at $90,000 and
has a tax value of $112,400.
#12 – 3131772 – This is a 3/2
in zip code 28212 (purportedly assigned to Butler HS), priced at $74,500 with a
tax value of $94,100.
#13 – 3132822 – This B of A
REO is a 3/2 in zip code 28215. It is priced at $62,000 with a tax value
of $82,100.
Click the following link to view the MLS
Reports for all of these properties:
http://matrix.carolinamls.com/DE.asp?k=331377XSXZH&p=DE-17127656-608
http://matrix.carolinamls.com/DE.asp?k=331377XSXZH&p=DE-17127656-608
As always, if you would like
more information about any of these properties (or any others), please don’t
hesitate to contact me.
Eric J. Dorer, B.S., J.D.
Broker/Realtor
Eric J. Dorer Real Estate
2740 Oxborough Drive
Matthews, NC 28105
Tel: (980)875-0950
e-fax (877)362-0917
email: ejdorer@gmail.com
web site: www.EricDorerRealEstate.com
