HOLD ON! The Deals Keep Getting Sweeter
Buyer Tips
Every day I search the MLS for the latest and greatest bank foreclosures that hit the market. The homes that are for sale right now are at the point where it's getting ridiculous. Seriously, when I'm seeing three bedroom homes in Commerce Township and West Bloomfield for under $50,000 I just keep thinking they can't get any cheaper. I used to buy homes in the city of Detroit because that was the only place you could get a three bedroom home for under $50,000.
Investors are salivating at the mouth. Think about it, you pick up a $50,000 house in Commerce, your taxes will be $250/month, insurance will be $50/month. I know you can rent it for $950/month for sure. If you pay cash for the property you are clearing $650/month or $7,800/year. Thats over 15% return on your money! If you get a mortgage you will still make $250/month cash flow. Keep in mind these same houses were selling for $145,000 just a couple years ago. When the market turns around do you think you'll be sitting pretty? Hmmmm...just food for thought.
These are the hottest buys right now...
ASKING $44,500
In Commerce Township, 3 Bedrooms, 1 Bath with 1,240 square feet. Home has hardwood floors throughout the entire home. It also has a small basement ideal for storage. It is missing the kitchen, so I figure it needs about $7,500 for new kitchen cabs, counters and appliances. The best part is that it's just a rock throw away from Commerce Lake with lake privileges. Other than that maybe a coat of paint. It has leased in the past for $990/month. Contact me to put an offer in or get a quick showing of the property.
Asking $69,900
In Commerce Township, 3 Bedrooms, 1 Bath, 1,100 square feet. Great house in great condition. All it needs is paint and carpet. Broad front ranch with Walled Lake schools. Newer roof 2001, updated kitchen-bath-windows-flooring and doors!! fenced yard, 2 sheds, spacious deck. Dining room and living room...the living room offers cathdral ceilings... this house is a great bang for your buck. Check this out it sold in 2004 for $150,000. Contact me to put an offer in or get a quick showing of the property.
Asking $69,900
In Commerce Township, brick home with 3 bedrooms, 1 1/2 baths and a Tri-level style architecture. New roof on the house. House needs paint, carpet, bathroom needs some love, and there is some drywall damage leaking from the roof. The roof is new so water must be finding its way in some how. It's right across the street from the hospital. It does have a lower level walkout basement. It sold over 9 years ago for $138,900. How can you go wrong at this price. Keep in mind we haven't even started negotiating yet. Contact me to put an offer in or get a quick showing of the property.
Asking $299,900
The folks who lost it to the bank had a mortgage on it in 2005 for over $1 MILLION DOLLARS, $1,053,200 to be exact. Okay this house is a CRAZY DEAL! This just hit the market. I guarantee there will be multiple offers on this one. 3,684 Square Feet, 4 bedrooms, 3 1/2 baths, 3 car garage. Which means that the house appraised for at least that amount just 3 years ago. It's located in one of the most popular neighborhoods in West Bloomfield, Wyndham Pointe. Builders like Crystal Homes is just one of the three builders in the neighborhood. Contact me to put an offer in or get a quick showing of the property.
This is just 4 of my favorite deals on the market right now. There is so many others. Call me if you want start investing or looking to pick up a great starter home. 248-937-1337.
*Foreclosure Photo courtesy of respres on Flickr
*Other photos courtesy of Realcomp
Date: Thursday, November, 13th 2008 @ 09:54:14 AMViews: 104
This blog entry currently has 1 comments posted.
kamal
i want this house 299 wowowowowowowowowowo