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Ugly Home Needs New Owner! Investor Dream Home!!

By Donna Oehler

Real Estate Agent with Realty Executives Platinum

November 29, 2007 06:57 PM

I know as an agent I am supposed to show all the positive aspects of a home ... but in this case- I am also realistic and honest.

I have a new listing - it is an investors dream. The property is in East Lancaster- 4 bedrooms, 2 baths and 2064 sq. feet and on almost 1 acre!

Although this home is a complete mess, with a whole lot of cleaning and repairs this home could make a great first time home or rental property. There is a large detached garage that could make a great workshop.This is an REO an the price has not been set yet - but all of you investors out there - give me a call and I will give you the details. Maybe we can save the bank some time and you can get a great deal!

The trash in this home is piled knee deep in spots - there will be at least 4 large loads of trash that needs to be hauled away. I am getting bids for the clean out - but maybe the bank will wheel and deal just to get it off the books!

Just remember - the uglier the house - the better the deal. This could be a great opportunity for a handy person looking for a fixer upper! This home is NOT a short sale. The bank has already taken possession so give me a call!

! front viewDetached GarageTrash in one bedroom

more trash - and there are about 6 more rooms like this!

Bring your boots, gloves and offers! This is a great home to jump into if you are looking for a diamond in the rough!

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Kris Wales

Keller Williams Realty - Lakeside Market Center - Macomb, MI

Real Estate Blog & Homes for Sale search site, Macomb County MI

Donna, the headline alone should grab attention :-) Let us know how it works!

Nov 29, 2007 10:13 PM

Melissa Grant

A Serendipity World - Greenbackville, VA

The Law of Attraction In Life & Business

What a headline, but that is one ugly home ! Nothing a dumpster wouldn't cure though ! have you put this on flipit.com ! This is a wonderful investor site ! I sold 1 a few months back from this site !

Nov 29, 2007 10:16 PM

Vincent McKamy

Samson Properties - Fredericksburg, VA

Realtor Fredericksburg Virginia

Donna, nice house - wish I lived in the area. I think you will get it sold that way - just don't expect to get asking price. Good luck

Nov 29, 2007 10:46 PM

Lea Deo, REALTOR® - KW Realty Partners

Keller Williams Legacy Partners, Inc. - Shawnee, KS

Johnson County REALTOR®| Shawnee KS Homes for Sale

Donna, I sold ugly homes for awhile. Once I had one that smelled terrible. I advertised it as "smells terrible, but fixable in a great neighborhood with comparable properties selling at _______ My seller was upset with me, but that thing sold in 3 days. I would probably recommend promoting the home in the context of the neighborhood comps and making sure that it is priced to sell. These things will sell. lea

Nov 29, 2007 10:58 PM

Ethan Dozeman

Realty Executives Platinum Group - Grand Rapids, MI

Real Estate in Grand Rapids

We just have to sell to investors who want to fix these properties up!!

Nov 30, 2007 01:41 PM

Lanre-"THE REAL ESTATE FARMER" Folayan

Samson Properties - Bowie, MD

I don't make promises.I deliver results.SOLD HOMES

I bet you are going to sell this home in no time. Just looking at it,I just needs to be recluttered - BIG TIME. But I am sure some investors even first time homebuyers who wouldn't mind fixing up this house. Great post.

Dec 08, 2007 05:09 PM

Herb Hamilton

RE/MAX Preferred Inc. Realtors - Portland, OR

Real Estate Broker ,CDPE, Downtown Portland

In order to qualify for a good investment property other than the comment of " Great Investment Opportunity " is that the numbers have to pencil out.

Now I for one know nothing of Lancaster. I, or others might be interested though if we had an idea of what the numbers are.

Example :

Home Price = $200,000

Fix up = $10,000 to $50,000 depending upon your abilities and ammenities provided

Resale potential = $300,000 to $420,000 dependant upon finishes

All calculations above are specualative and should not be used to calculate soundness of this investment property.

Just because a property is priced a few thousand below other properties does not make it a good investment. To qualify there must be ample room for the investor to do the work, recover his costs including carrying costs and still make a reasonable profit. The only way investors from outside the area will be able evaluate is if they have some guidelines for the property.

Looks like it could be a good property.

Dec 10, 2007 10:36 AM

y y

/LSONHC';/.c - Denver, CO

wow. Looks like you've could have an instant garage sale when you buy the place. Good luck!

Dec 14, 2007 12:00 PM

Ugly Home Needs New Owner! Investor Dream Home!!

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