Welcome to a new consumer based series. Every day, my fellow agents and I trawl through the murky depths of our respective Multiple Listing Services to unearth the very best values for our clients. In this pursuit, I frequently encounter the winning combination of property and price that makes my jaw drop. Naturally, the amazing deals that I discover are not always perfect matches for my current clients, and I am left furiously spinning my mental wheels as to whom I should notify. Some opportunities prove so exceptional and unique that it infuriates me to watch such properties sell without my involvement. It is an indescribable feeling of accomplishment to find such bargains, and to get there with a client before the roving hordes of low end investors do. No more impotent scrambling to find that friend of a friend of a friend who is shopping for investment property.
I am launching a weekly series in which I isolate one such smoking deal every 7 days.
Mind you, I retain the right to alter this construct. Should I stumble across two or three such piano droppers over the course of a week, I'll address them all. If you are even vaguely interested in taking advantage of the current market conditions to purchase that rental you have long considered, you'll want to keep your eyes glued to this blog. No need to wade through all of the clutter and step over winos in run down crack houses in pursuit of that elusive winning property. I'll do it for you.
One thing that bears mentioning is that there will be no time for foot dragging, and there will be little, if any, room for negotiation on these particular properties. This is the one segment of the market that is actually alive and well, with multiple offers and bidding situations in many instances. For example, I fully expect the property I have my eye on this morning to have several offers on it by the time I hit "submit" on this post. Another thing to be cognizant of is that the ultra cheap properties often need such extensive work that conventional financing will be difficult to obtain. For the home that is a couple hundred thousand dollars under market because it has been completely gutted, cash, private financing or construction financing might be the only options.
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The Scottsdale Foreclosure Value of The Week is a 4 Bedroom, 2000 Square Foot home with a pool in one of the most desirable neighborhoods in South Scottsdale. Listed at the obscenely low price of $184,900, this one is a steal. It will require someone with no aversion to a total reconstruction project, but the upside potential on this one (in a neighborhood which routinely commands in the $300-400ks) is off the charts.
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For more Scottsdale foreclosure bargains,
Contact me at: Paul@RayandPaul.Com
(480) 220-2337
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