Especially when you see the comparison I make..!
We’ve been trying to sell the home at 125 Rambling, Folsom for a few months now. We did have an accepted offer at $305,000 with 3% of the sales price to be given as a credit to the Buyer for Closing Costs and $11,500 to pay for replacing the aging Shake Roof .
After the bank that approved the short sale and agreed to all of those costs, the Buyer on the deal backed out because of some kind of financial emergency.
Since then Rambling has been sitting on the market even though it’s been shown several times.
About 2 weeks ago, a home with the exact same floor plan came on the market. It’s a “repo flip” and shows pretty nice. It went to “Pending Sale” status after just 17 days on the market. It listed at $319,000. Rambling is listed at $279,000.
A NOTE HERE..!! I think if someone were to bring me an offer on Rambling I could get “closing costs” and the costs of replacing the roof approved by the Short Sale lender at our current list price.
When you look at the video I think you will agree with me that “curb appeal” and well maintained landscaping makes a big difference in these two and you can see why a buyer would appreciate the home on Big Valley Road. However, the interiors I think are pretty much the same, except the Rambling home needs a little TLC.
By the way, if you are an investor looking for a deal, I think Rambling would rent for $1,800 – $1,900 if it was fixed up some.
Anyway… check out the video here and let me know what you think… I’d appreciate the feedback.
In the mean time…?
Make it a great day…!
Ed Favinger, Broker CRS, GRI, SFR favinger@rwnetwork.com 916-203-1260
Ask the New Owners of a Duplex Purchased Through a Short Sale.
We closed escrow on a Duplex located at 5945 Moss Creek Circle in Fair Oaks about two months ago. The Buyer did employ North American Home Services to inspect the property for defects and completed a structural pest inspection.
While this Duplex was in surprisingly good condition given that it was a short sale, there were a few items of concern. While most of them were minor there was a potential issue that could lead to a problem in the not too distant future according to the inspection team.
What I urged the Buyer to do to mitigate some potential large expenses was to purchase a one year Home Protection Plan from Old Republic Home Protection Company which cost, I believe, just a bit under $500.00.
If you didn’t know about this service, it’s not just for Single Family Homes. You can purchase this service for a Duplex, Tri-plexes and Four-plexes and if you are an investor, I suggest you make this part of your initial costs going in and I strongly urge you to renew the plan at the end of the first year.
In the case of this new investor, the Central Air conditioning unit’s compressor in one of the units required a major fix. In fact the compressor, a major component of the system had to be replaced at a cost of $1,700…!
Because the Investor had this coverage, his only out of pocket costs are the deductible for a trade call of $50.00 and the cost of removal and disposal of the old equipment, which was $100.00.
So… Do you think the Investors got their money’s worth purchasing this plan…?
I hope you found this useful and informative…
Make it a great day…!!!
Ed Favinger, Broker CRS, GRI, SFR, 916-203-1260 favinger@rwnetwork.com
Why… Because it’s near everything.
- Nature Trails
- Community Pool
- Neighborhood Shopping & Restaurants are just up the street
- Briggs Ranch Neighborhood Park with pick-nick tables & Volley Ball sand lot & Play Ground
- Farmers Market right there at the corner of Blue Ravine and East Natoma every Friday morning
- Folsom Point entrance to Folsom Lake about a mile away if that
The current tenant in this home will not be out for another couple of weeks, but is willing to show it with an appointment.
I’ve got lots of pictures as you will see so for more information about this great condo go to the link below.
4903 Esplanade, Folsom, Ca – 2 bedrooms 2 bath, 2 car garage and it’s available at $1,370,00. Call me at anytime to set up an appointment to view.
In The Mean Time…?
Make it a great day…!!!!!
Ed Favinger, Broker, CRS, GRI, SFR 916-203-1260 favinger@rwnetwork.com
