Kathryn Carlson, Licensed Real Estate Broker Owner ,
Bachelor of Science, Realtor, Accredited. Luxury Home Specialist, e-Pro Certified
Memberships: National Association of Realtors,
Colorado Association of Realtors, Denver Board of Realtors, Council of Residential Specialists,
Council of Luxury Home Specialists, Colorado Mortgage Holding Company, Licensed HUD Broker, Denver Metrolist
Homes and Lifestyles of Colorado
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You want to make sure the property has that kind of value. Often you will find that more is owed on a property than it is worth - or will be worth in your lifetime. You are aware of the lender fraud in the state no doubt. There is (to my knowledge) no easy website or avenue to access to just simply find a list of "good deals."
The main concern in any purchase is location - does it support the values you expect? does it have a history of favorable market acceptance? What potental does the location offer (any new projcets to stimulate the surrounding area).
There have been at least 3 or 4 such deals in my own golf course neighborhood in the last 18 months. All were purchased below value and revamped. Fortunately the buyers are stying in the houses for a while I imagine to dodge the cap. gain taxes.
By the way, I am a broker and certified res. appraiser with over 30 years experience, if I could help you make some $$$, Let me know. I also have income properties - it's a fabously time to buy. Like I said Location is everything.....and knowledge is golden.
Warren Petracek GRI, SRES
Broker Associate, Certified Res. Appraiser