I ran across this listing while hunting for a home one of my clients might want to buy and remodel. She has done an excellent job with her other projects, what I call slow flips, and is ready to start on another one. First I check out the obvious foreclosures and distress properties, but there is starting to be a lot of competition for the good ones. It takes a lot of research and trolling through listings on my part to come up with a short list of homes to look at. Only a few make the cut: those that home buyers would shy away from in horror, but that have good bones and need to be repaired, cleaned up, and updated.
This home might just be one to consider. It has been on the market since November 2009 with this particular listing agent.
[ Placeholder where a photo of a house was originally shown in my post. The photo has a date stamp of June 1, 2003, and the copyright notice of the San Antonio Board of Realtors from 2009 that is automatically put on photos uploaded to the multiple listing service. I read through the copyright rules of the MLS, of which I am a member, and was still not able to figure out whether I can display a photo in a blog post, although it is clearly marked with their copyright, and I am obviously not claiming it is of one of my listings. Some people commented that they felt I should not have included the photo, so I have removed it. ]
Anyway, I was trying to make a point in my post that I thought the photo would achieve more quickly than words. The photo is the same one that was used in a previous listing of this house in 2007 (by a different listing agent, and before the automatic MLS copyright stamp) and the property has been listed for sale and rent by even more listing agents since then. For some reason, the current listing agent has not driven by to take an updated photo of the house. There are three other photos, another exterior shot and a shot of a hallway and a bedroom, all from 2003.
To me, this indicates that the house is a possible candidate for remodeling and flipping, since most home buyers are going to skip right over a home that they can't even see recent photos of. If there are no photos from the last 6 years, then the house might be pretty scary inside. This is the kind of thing I look for by reading between the lines when I research properties on the MLS.
So what do you think? Should I schedule a showing?
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