OfflineHello! Yup - newbie to the whole thing, but I've been diligently searching and found something that peaked my interest. I'm looking at doing an assignment, so keep that in mind. Here are the raw numbers:
House: 3 br/2 ba, stable/upscale/quiet neighborhood. House is showing as in "pre-foreclosure" status on Cyberhomes.com, and has been on the marked for 400+ days (!).
Asking price: 79,992.00 1548 sqft (51.67/sqft)
01/09 appraisal from county website: 133,653.00
median price for 3br/2ba (cyberhomes): 274,371.00
on-line court records show a foreclosure was dismissed in oct of 2008, 1 year ago.
I contacted the agent listed as representing the property who said she couldn't find any info on it.
Aside from the agent's remarks, and based simply on these numbers, I would think this is a "workable" deal in the making. I know the next step is to contact the seller/owner and find their "buttons", but I'm not sure I'm looking at what I need to be looking at, in terms of finding a true "deal" for an assignment.
Ok, guru's! What is your take? Thoughts? Suggestions? Tips?
Chris
Quotes about me from other users:
"...high and mighty ... I have to bring the hammer down on them"
- My response: "The view from OUTSIDE THE BOX is a lot better than from INSIDE."
Welcome to the DG family, glad to see a newbie jumping in with both feet. Yes, you're right, find the owner and talk to them, go inside to see what condition the house is in, does it need any repairs? You have to do your due dilligence so you can know the true value of the home. Sounds like it could be a great deal, but get all the facts first. Get current CMAs for the area. You said the listing agent couldn't find any info? Get an agent of your own that will find the info you need. Dig, dig, dig, this is a fact finding mission that will pay off big if you do it right and the numbers are there. Best of luck! =)
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."