Does “Home Staging” make a difference…?

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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An Ugly Looking REO/Bank Owned Duplex – Can It Be an “Opportunity”

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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Two REO/Bank Owned Duplexes – Easy Cash Flow..!

With Lower Mortgage Rates, it’s almost a “no brain-er”

I was out and about looking at property the other day and spotted what I think are a couple of unique duplexes.   One of them is in a little higher end area of primarily single family homes on a private drive and the other is in more of what I call a “bread and butter” neighborhood.

The one thing they have in common is that they both are situated on “corner lots“.

7720-7722 Sunset Avenue in Fair Oaks is the 1st one.   This one sports 3 bedrooms 2.5 baths on each side with 2 car garages.   Priced at $281,000 this one will pencil out nicely and doesn’t need much to get it in a “rent ready” condition.   This one just came on the market last week.

Click here for the Cash Flow Figures.     For a video walk through, click here

7444 Robmar Court in Citrus Heights is the 2nd one and is in more of a “rental” neighborhood.  While the neighborhood does have some single family homes nearby,  you do think “rental neighborhood” when you drive through the area to get to this property.

As you will see in the video it’s not in really bad condition and it wouldn’t take much to get this one to shine.  Pay attention in the video to the “mistletoe” that has taken over the large tree in the front.  I think trees are a valuable asset and if you find a tree in this condition, get rid of the mistletoe and you’ll save the tree.

Click here for the Cash Flow Figures.    For the video walk through, click here.

If you haven’t gotten the memo, Mortgage Interest rates are in the high 4% to low 5% for 1-4 Unit  Investment Properties.

With rates this low I guess the phrase “no brain-er” comes to mind.

Make it a great day…!!!

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

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Buying a Duplex with Tenants in Place..? – What Do You Do…?

I wrote about this almost a year ago.

I’m seeing more and more of these Bank Owned/REO properties and the Short Sales that still have existing Tenants in them.  If you think you might want to keep them, here’s what you do.

I’ve  updated the article.   Click Here for What to do…

Make it a Great Day…!

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

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