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Getting Out Bid for the Duplex you want…?

I know what you thnk… “What’s the deal here…?”

According to my partner Carl Cooley, Broker, we’ve had about 4 months of increasing prices.   You know… I don’t know what to tell you except the following and you come to your own conclusion.

Last weekend I wrote.. I think 8 offers… Only one of that group was accepted and that was a short sale on a condo for about $45,000.00.

The other offers were for properties that I have posted on this site before.  On every occasion I was given the  usual “bring your highest and best offer” verbage from the listing agent.  I found out that several of these offers were “all cash” including the ones that I presented.

Folks.. you have to be careful here because I think the Banks are holding several more of these back, because they want to keep the prices up.

The economy in improving.. and yea I know we’ve got about 11% unemployement here in the Sacramento Area, but you see signs everywhere that it’s not “dead”.   Take a drive anywhere around this region and you are going to see construction sites working.

The Builders haven’t realy gotten back in the market here to build new inventory, although there are projects working.   So while we have some high unemployment numbers there is a lot of money looking for a home now.

Be carefull that you don’t get caught up in the frenzy because these things have to pencil out to make them attractive.  On just about every deal we do, I tell prospective Buyers to be prepared to invest another $10,000 to $20,000 in “fix ups and upgrades” to get the rents you’ll need.

Make it a great day

Hot on the Market – Fair Oaks Duplex – Rare Pride of Ownership

 

I get excited when I see a Duplex like this on the market.

This is one of those rare duplexes that has a 3 bedroom 2 bath on one side and a 2 bedroom 2 bath on the other.  Both sides have 2 car garages.   This looks like a single family neighborhood and across the street are new single family homes.

When you have a duplex that is in decent condition, almost rent ready, it’s not going to be on the market long.

Click here for some pictures and a “proforma cash flow analysis”

Here’s a YouTube Video I took with my Palm Pilot… This is of the interior of the 3 bedroom unit.

Click here to view  

Hey if you want more information on this or any other residential investment property in the Sacramento Region, just drop me a note.

 

 

In the mean time…?

Make it a great day….