You ever wonder what the fourth most important thing in real estate is?
If the three most important things in real estate are location, location, location (and they are), then what's the fourth? The answer is condition! What kind of shape is the property in? You've heard it said you don't want to buy the nicest house on the block, and you don't. But you don't want to buy foundational or structural problems either. Cosmetics can be fixed relatively easily and add to the value of the home significantly. But it always boils down to "buying it right". You should also always get a licensed inspector to go over the property. They are worth the few hundred dollars every time!
Here are four Hud Homes that are in winning areas and in good enough condition to make them worth your while. I always start with the question, "what would this home in this neighborhood sell for if it were in nice condition?" Then the question is, "how much money will it take to get it into 'nice condition'?" Finally, "what can I buy it for?" These four are winners.
Colonial style, four bedrooms, 2 1/2 baths, 2 car attached garage with a very large lot! Updates and repairs are needed, but trust me they all need something. It's between 17 and 18 mile roads in the Troy achool district. Perfect for a family.
Bungalow style, three bedroom, one bath with a basement. This one has lots of room for cosmetic improvement so at the right price you can get sweat equity. It's between 13 and 14 mile roads in desirable north Royal Oak.
Great brick ranch, four bedrooms, one and half baths, basement, and attached two car garage between Ryan and Mound in the Warren Con school district. This is in a very nice sub and this house is a steal!
Four bedroom brick ranch with a basement, family room, fireplace, two car garage and florida room on a pie shaped lot (big backyard) between Schoenherr and Hayes in a great Warren Con neighborhood.
Call Paul to see these or any HUD homes in Oakland or Macomb Counties. 248-790-0500.