The Term “As Is”… The Most Misused Phrase in Real Estate

This term just bugs me… especially when used by Sellers and their agents.

I bring this up because a buyer asked a question on Trulia Q & A about “as is” and the fact that the property may not be worth what they were asking.

See what the responses were from me and other Brokers/Agents in the area to this Buyer by clicking here I think you will find what was said interesting and maybe you’ll remember it when you hear this often mis-used and mis-understood phrase.

In the mean time…?

Make it a Great Day…!!! According to the KCRA Channel 3 weather people, we’ve got some extended periods of sunshine coming our way next week.

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

Enhanced by Zemanta

Best Darned Short Sale Duplex Deal Period..!

It’s an ugly thing now but it could be nice…!!

This is a Duplex in a Short Sale situation that is just waiting for the right person to snag. It’s located at 2597-2599 Capitales, Rancho Cordova, Ca.

Each unit has a Fireplace, 3 bedrooms, 2 full bathrooms, Central Heat & Air and 1 car garages.

The 2597 side(the left side) which is now vacant,  does have an updated/upgraded kitchen, updated bathrooms and the new vinyl type windows including the side yard slider.

It does however, look kind of nasty only because it needs carpet, some paint and new flooring.  In the video you’ll see,  I’m suggesting a new laminate style flooring in the “high traffic” areas and carpet only in the Living Room and Bedrooms.

The knock on this street over the years, at least for me, is that all of these duplexes are 3 bedrooms and 2 baths but with only 1 car garages each.   I mean,  who only has one car now…?  Since most families have 2 or more cars the problem is that there isn’t enough available parking space.  The end result…?  is you’ll drive down this street and more than occasionally you’ll see some of the tenants parking vehicles on the front yard grass, if there is any.   It just makes this street look awful.

To mitigate that problem,  I’m suggesting in the video that you extend the width of the driveway on both sides and you’ll be able to accommodate more vehicles.   You’ll see this idea has already been applied to the Duplex to the immediate right of this property.

Best of all…?   After you do the suggested repairs, you’ll have a nice property that will give you some decent cash flow.

I have estimates to install new carpet & the laminate at $2,000, the driveway extension at $2,500 and some landscape enhancements at about $1,000.  If you wanted to install new roll up garage doors add another $450 each.

The Roof needs to be replaced but that will be part of the deal that I’m proposing to be allowed as part of the short sale.

Click Here for the Video

For what you might expect as far as cash flow…?   Click here for the Pro-forma Cash Flow Analysis I think you’ll agree that it’s not bad.

Somebody bring me an offer today. The Bank has already approved the short sale.  We’re just waiting for a Buyer… is that you…?

Make it a great day…!


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

Enhanced by Zemanta

Daylight Savings Time is Tomorrow – Can Summer Be Far Off…?

I  took this picture on Friday the 11th at about 11 in the morning.

When I was pumping gas at the Raley’s Gas Station at the corner of Blue Ravine and Natomas I saw a couple of SUV’s towing some boats.

Since Folsom Point was on my way, I decided to stop and check out the lake which is now about 2/3’s full.

Looks like some fella’s couldn’t wait for warmer weather. Click here for a quick flp cam video views of the lake and the El Dorado Hills from Folsom Point boat launch

Make it a great day.

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


Enhanced by Zemanta

Real Estate Agents Fool Copper Thieves…

They’ve removed the A/C units.  Now that’s “creativity” for you.

I got this story off the web.  It’s not just a local issue as you might think.   This story came from a television station out of Georgia.

Check it out… CLICK HERE FOR THE LINK

In the mean time…?

Make it a great day

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

Enhanced by Zemanta

You Want to Sell Your Rental Home – Should You Let the Tenant Stay..?

Here’s what I and several other Real Estate Agents/Brokers had to say in an answer to a question from Trulia.

The Short Answer is no…!    See why.

Click Here for the Link

Make it a Great Day…!!!

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

Check Out Barbara Bender’s Post Regards FHA 203K

You Can Fix it Up Using the FHA 203k Plan.

Check out this article that Barbara put together.

http://barbbenderrealestate.com/2011/03/04/what-is-a-fha-403k/

When you get to her site, be sure and check out the videos of several nice homes in our area.

Click here to see her video channel

In the mean time..

Make it a great day..

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

Enhanced by Zemanta