Short Sale in Hawthorne Elementary School District is a Diamond in the Rough
I have a listing that has been on the market for a while. It is located in an excellent Elementary School district. The home is spacious and has a nice floor plan.
We have lowered the price steadily over the past 6 months. We are now priced at $259,900 which is well under the market.
The problem, as I see it, is a lack of vision on the part of potential buyers. When they see the kitchen, they immediately assume this admittedly disappointing appearance of the kitchen cabinets makes this home a "no way" on the buyer's list.
Yes, the kitchen cabinets need to be replaced. The seller obviously does not have the cash to make this change. We are talking $8,000 to $10,000 to do this renovation. What buyer's are missing is how this one renovation would put a ton of equity in their pocketbook.
The listing is a short sale. Buyers can make an offer and we will put it in front of the bank for a decision. We have already dropped the price way below the market for this area. A savvy buyer could pick this house up for a song and then followup with a new set of kitchen cabinets when they could afford it.
The kitchen appliances are above average and in great condition. The appliances could definitely be re used after the renovation. The floors are fine.
If you are a savvy buyer, take a look at this home
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