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fixers: Why, oh why don't and won't sellers get permits? - 02/18/09 07:42 PM
I met with a prospective seller today. He has bought and sold several properties through the years, and he delights in finding fixers then re-seling them at a good profit.
But while going through the improvements, I asked whether or not he got permits for the work he has done:
New foundation. Yes New roof. Yes Sewer lateral test and replacement. Yes New double pane windows. No Remodeled kitchen with new granite counters and new fixtures. No Upgraded electric and plumbing. No And...he didn't have a stove. Told him that if a buyer is going to get an FHA loan, FHA requires a functional kitchen, … (11 comments)
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fixers: How do you get loans approved for FIXERS? - 10/24/08 12:49 AM
Lately, it's been puzzling and stressful in getting loans processed, especially for properties that are considered fixers.
Here's what's confusing to me: supposedly, both loans are approved, but there are conditions per the underwriters.
"HOLD BACK "ON Property 1 is in bad shape, with cracked plaster, peeling paint and wallpaper, and a part of the house that slopes slightly. The appraiser valued it at $10K less than accepted offer price, but we managed to get the seller to agree to the price reduction.
Then the underwriter wanted to hold back $50k in escrow while some repairs are done that include getting the … (9 comments)
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fixers: Should you stage a fixer? - 09/15/08 02:12 PM
Here are before and after....
I held my first open house yesterday, and I must say I'm exhausted. I had 70-80 GROUPS (definitely over 100 people who came with family, neighbors, etc). It was hectic. Wish I had more time to chat with the folks but they just kept right on coming.
The question is, does it pay to stage a fixer?
ATTAGIRL!
Although the house needs a lot of work, it was important to showcase its good bones and hint at its tremendous potential. Too many cracks in the walls, tons of peeling wallpaper, outdated kitchen … (15 comments)
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fixers: Should you mention Zillow and Cyberhomes in your CMA & listing presentation? - 09/12/08 11:47 AM
I just listed a fixer home, and posted it on craigslist, using information I got from Zillow and Cyberhomes.
The local Alameda blogger saw it immediately. And although I got points for straight-talkin' the condition of the property, he zinged me (or realtors in general) for using Zillow zestimate in my craigslist/vflyer/postlet post.
And speaking of Zillow, after all the flak the big Z is getting from the real estate industry for their Zestimates(tm), I find it a bit rich that a Zestimate(tm) is not only mentioned in a listing, but ostensibly used to establish a "fair" list price by deducting … (5 comments)
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fixers: Eye-magnet headlines for real estate ads - 09/05/08 01:31 AM
Perhaps we should have a tutorial on how to write headlines that get the most attention in a sea of boring ads. After going through pages and pages of postings that were so booo-ooooo-rrrrrinnnnggg I decided to check out The Best of Craigslist to be entertained.
The only real estate related best-of post that I saw was An Open Letter to the Brokers of New York City, Some good tips to real estate sales/rental consultants.
Also gave me an idea for a future post as I look for contractors who may be interested in my fixer listings. Perhaps I should title … (0 comments)
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Pacita Dimacali - ePRO, SRES, CDPE, MBA Alain Pinel in Alameda County CA
Oakland,
CA
More about me…
Alain Pinel
Address: 6211 La Salle Ave, Oakland, CA, 94611
Cell Phone: (510) 205-2992
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