Checking in. Husband & I are putting in an offer on a SFH today. We plan to buy it, fix it and sell it. If we get it, I'll post the numbers.
I'm not WICKED excited about it because the neighborhood has me a little cautious. It's on a very busy road, and the quieter neighborhood roads around it are a little run down. So taking that into account our re-sale value would be lower than normal.
But I think the house will compensate for the neighborhood shortcomings. It is a 3000 sq ft craftsman bungalow (HUGE for a bungalow), 4 bedrooms, 2.5 baths on a double sized lot. You just don't see that anywhere in the city.
Its a For Sale by Owner where the owner grew up in the house. His parents converted it from a side by side duplex to a SFH. That is why it's so huge.
And awesome for us- the owner has a "For Sale by Owner" sign in a place behind some bushes that is really hard to see from the road. And it is a busy road where people are going about 30 mph. So if you blink you miss the house. The house is nowhere on the internet. My realtor happened to see the sign while searching for an MLS listed property a few blocks down the road. She immediately thought of us and I think we really lucked out.
Real Estate in our price range has been moving overnight. We tried to bid on 3 houses so far to find that another full price offer came in before we could offer. We actually put in a full price offer sight unseen one time the day it came on the market. We got the house! But it was so termite infested the floor had crashed in and an exterior wall..had a lot of sunlight coming through. So we backed out of the contract the next day.
Anyways, this property has been listed for sale for a little while and we are the first to offer on it. I'm pretty sure no one knows it exists.
So we'll see. But we are excited. I'll let you know!
Still in the Real Estate Game