FriendshipProperties's Q&A

Makes sense too me.  Most kitchens I see with laundry/dryer in them are 'compact' set-ups like Condos.

Sounds like a BANK OWNED property, not a Short Sale.  Often when the bank takes back a property they will price below market value, create a lot of offers and get it sold in a week to the 'Highest and Best' offer.  Often the offers can be higher than asking.  Its very fustrating when you put in a full price cash offer with no inspections on the first day, and a week later you get a call that they have multiple offers.  Its the wrong way to do business, but what else would you expect from these people?  Why do you think they lose $60-100k per asset and need a bail out?

Short Sales and REOs sell for less than 'Market Value' b/c the sellers are extremely motivated and the buyers expect a great discount for the hassles of dealing with the banks 'ways'.  B/C of the mass number of short sales and foreclosures, it has set a temp. discounted market value on what a buyer is willing to pay based on the competition (other bank sales).  In a 'regular' market, REOs and Short Sales would not be used as comps or would be seen as significantly discounted from actual value.    The entire market is Motivated Sellers dumping properties to sell in 1-4 weeks.  When the market returns to sellers who are not FORCED to sell quickly, then they will start asking 'normal' prices again.  You can not sell at a 'normal' price in this market b/c the motivated seller up the street is 50-70 cents on the dollar.

You'll need 20-25% down for an investment property and the more property you own the more difficult.  Some investors have the homeowner sign over the deed, put up all the cash to bring the loan current and then continue making the payments, but thats not recommended b/c the bank can call the loan paid-in-full upon transfer of title.

Excellent: $165kgood: $150kfair: $135kpoor: $115kArea Sales: http://ctmls.mlxchange.com/Pub/EmailView.asp?r=1201845708&s=HFD&t=HFDIf you want more exact figures, email me and I can stop by for a physical evaluation.  The length of time you want/need to sell by can also affect the list price.

Zillow is unable to take into account property condition or uniqueness, etc ..

300 x $100 /sqft = $30,000?

Just an idea of how I would est the cost:I can get low-e windows w/o grids for $200 per window or less installed.  Better ones around $275 per window.   Upgrade a panel probably around $1500.  Not sure about the outbuilding b/c distance is a factor.

How well do you know property values?  How do you know what to offer?  How well can you negotiate?  Whos is really 'saving' the commission .. you or the seller?

Why would you be under the impression they increased?   My est. would be approx. 10-20% decline.