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Two new listings I profiled here recently closed – All Cash – No Financing

When I profiled these Bank Owned Duplexes just about a month ago it didn’t really surprise me that both of them went to a Pending Sale status shortly after I posted the article.

One of them, 7444 Robmar Court, Citrus Heights, sold for the list price and the other one, 7720-7722 Sunset Avenue, Fair Oaks, closed escrow with a sales price of $285,000 which was four thousand dollars over list price.

7444 Robmar closed escrow on September 3rd and Sunset closed escrow just a few days ago on September 16th.

Bottom line is that if you like one of these properties and they have just come on the market, chances are you will be up against “all cash” investors.

If you are thinking of getting into this market, be prepared to do battle with other investors looking for these great deals.

Make it a great day…!!!

Ed Favinger, Broker CRS, GRI, SFR           favinger@rwnetwork.com     916-203-1260

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Along with Pricing it sure does – Check out these Before and After Pictures

Let’s Talk abouit Price first.

We listed a home in San Jose at 5893 Moraga Avenue originally at $525,000 and after a couple of weeks of no action and just a few showings we did an updated market analysis and decided to lower the price to $464,950.  We had an accepted offer within about a week or so after bringing the price down.

How Does Staging Help You Sell a Home..?

In addition to “pricing” your home for today’s market,  Staging your home will mak a big difference in marketing your home like it did for this owner.

Here’s some “Before” Pictures.   Click on the pictures and you will get the “After” shot

Here’s the Before look of the Living Room.   Click on the Picture to see how it looks After…

Before Pictures of the Breakfast Nook/Dining Bar.   Click on this Before Picture and to  get the “after” shot.

Here’s the Before Picture of the Hall Bath… Click on this picture and see what Staging does for it.

What if you don’t have the time or the skills to do Home Staging…?

If you don’t have the skills, patience or the time to stage your home for sale, you can always hire a professional.   Most of these staging companies have various pricing options and many of them will even put together a slide show of their finished project for you.   Click here for the link to the staging company that the work on this home.

MAKE IT A GREAT DAY…!!!

Ed Favinger, Broker, CRS, GRI, SFR         favinger@rwnetwork.com       916-203-1260

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Only if you can get it for the right price.

While out and about the last few weeks I have been looking at a lot of duplexes in the area.   Some of these properties are in better shape than others of course and the trick is to get into one with the lowest amount of $$$ to get the highest return.

While in my search for good deals, I ran across this duplex that has been on the market for about 2 and 1/2 months.  Check out the picture I have here and tell me this isn’t the nastiest and ugliest property you’ve seen in a while.

Now why do I bring this one up for consideration..? Well this has been on the market for a while (2.5 months)  and when a property is as ugly as this one is, it’s hard for most investors to see the potential here,  so that means the asking “price will be soft”

So why do I like this one..?

For starters it’s a 2 bedroom 2 bath unit on each side.   Each side also has a fireplace, and the family room along with each bedroom has a sliding glass door to the outside back patio or the side yard.

It is also in a pretty decent, although not a great,  location.

In the Video that I have made of this property you will see what I mean.

While each unit has a 1 car garage, who ever owned this in the past decided to add a “covered parking” spot directly in the way of the front door.    It just makes this place look awful.   The lack of any kind of planning or maintenance of landscaping is also a big negative.

I have the “estimated” cash flow figures here based upon a sales price of $150,000.   However, you would have to get this for $100,000 to $110,000 and put about $35,000 to 40,000 more into it in my opinion to get this in a nice “Rent Ready” condition.   This would mean you’d also have to work “big time” on the curb appeal and landscaping enhancements.

Click on the links I have provided below that will give you an idea of what the “cash flow” would be “after a fixup” and a “walk through” video where I describe and show what should be done to this property and I think you’ll get your own ideas of what you would potentially do.

Click here for the Estimated Cash Flow figures.     Click here for a video walk through that I made.

Note: I started to write this blog yesterday and noticed this morning when I got my MLS updates that this property has a “Pending Sale” status.    We’ll keep an eye on it and see if it falls out and if this one does go all the way to sale, I think I’ll come back and visit it and see what the new owners do to get it back into producing rental income.

In the Mean time….?   Make it a great day…!!

ED FAVINGER, BROKER, CRS, GRI, SFR            favinger@rwnetwork.com     916-203-1260

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I Thought I’d pass this article on from the Sacramento Business Journal.  It just goes to show that while we are seeing an increase in sales activity, there are still folks struggling to keep their heads above water so to speak.

It’s not a long read… check it out….

More homeowners skip payments in Sacramento region – Sacramento Business Journal.

In the mean time….?     Make it a great day…!

Ed Favinger, Broker, CRS, GRI, SFR      916-203-1260          favinger@rwnetwork.com