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Nicasio Bargain Fixer-Uppers Reward Patience, Prudence
If you were one of the brave Nicasio real estate investors who decided a few years back that the real estate meltdown was an awfully good buying opportunity, congratulations on being able to resist any naysayers. The fact that real estate has always lived up to its name (“real”) is easy to forget when prices have hit the basement—especially when the surrounding economic news is dire.
Those were days when Nicasio fixer-upper opportunities were available for shockingly low asking prices—and before long, the shockingly low asking prices began to look normal and reasonable. “Bank owned homes” became a hugely popular search term as foreclosure numbers skyrocketed. It’s hard to recall the way it really felt, but any buying into that real estate market seemed like a swashbuckling act of raw courage.
Today the Nicasio market still offers opportunities for bargain hunters, but they tend to be of a different kind. When a low asking price stands out in one of today’s Nicasio listings, it’s likely to fall into one of two categories:
CATEGORY 1: The home’s location has one or more characteristics that the majority of prospective buyers finds off-putting. There’s not much the seller can do in this case, except wait for the ... more

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