Mia, Both Buyer and Seller in Phoenix, AZ

I am looking to purchase a forclosure, fix and rehab than resale, in the North Sharon Amity area, is this a good area and are there buyers?

Asked by Mia, Phoenix, AZ Thu Apr 26, 2012

Help the community by answering this question:

Answers

7
Yes. This is a great area for "flipping" houses. Just have to make sure you purchase wisely and don't overspend on updates. Depending on the neighborhood many buyers may be first time home buyers and you want to be careful not to price your property out of the market just to make your numbers work. Work with an agent who has experience in the renovation re-sale market who can run a good comparative market analysis for you and let you know about how long properties stay on the market in the area. If you are going to buy foreclosures you are going to rely on this relationship so that you can act quickly and not miss good deals. Things move fast in this market!
0 votes Thank Flag Link Tue Feb 12, 2013
For a goal of purchasing a home, fix and rehab then resale, there are several strategies:
1) Buy the cheapest home you can find. Have an expert team of repair specialists that will fix within a week and put back on the market. There is a lot of competition for foreclosed homes in Charlotte right now, so you end up paying a premium. Focusing on short sales may allow you to achieve the same result without the lockout. Keep in mind that foreclosed homes often have 90 day lockout clauses that cap your maximum sales price for 90 days, which will increase your interest costs if you take out a loan to do this - unless you rent for a while before selling, in which case you should consider hiring a professional property management company.
2) buy a home that has been condemned by the City or with major structural or other significant issues that scare off most of your competition and have to be corrected before the home can be sold.
3) buy a higher priced home in an excellent school attendance zone, where entry level flippers are not competing.
If you appreciate an answer, please give "thumbs up". For the most helpful answer, please say thanks with a "best answer" click.
0 votes Thank Flag Link Sat Apr 28, 2012
Dexrel,

This is a good area, if you can get the right deal for yourself. It is considered a revitilization area and renovated homes sell.

Let me know if you would like me to send you a list of foreclosures.

John Siddons
http://www.searchcharlotte.com
http://www.johnsiddons.com
John.Siddons@prucarolinas.com
0 votes Thank Flag Link Fri Apr 27, 2012
Drexel,

I work a lot in the Sharon Amity area of Charlotte. I have helped both investors purchase and flip homes. If you can buy for the right price in the area and keep your rehab costs to a minimum then you can make a decent profit flipping homes in that area.

You need to make sure you are working with a Realtor who knows the area well and will guide you through the process fo buying them... The ones that are priced right are selling quickly. Most are gettign into multiple offer situations...so time is always of the essence when buying in that area.

I would be glad to help you out and answer any questions for you...Please feel free to give me a call at 704-519-7895 or e-mail me at ddicecco@cbunited.com

Dave diCecco
Realtor/Broker
http://www.davedicecco.com
0 votes Thank Flag Link Thu Apr 26, 2012
Wow what a good question. I believe I have the best answer for you with 2 simple steps below!

1. Please call 704-394-6609 and/or
2. Click http://www.dreamhomesatdreamprices.com

Call me at the number above and/or enjoy your FREE AND COMPLETE HOME SEARCH with the link above.

Now you have NO excuse to get the home of your dreams with a rock bottom interest rate.
0 votes Thank Flag Link Thu Apr 26, 2012
Hey Dexrel,

You can buy and sell anywhere as long as you purchase at the right price. I work with a lot of investors and right now the low priced homes in the 20's or 30's are getting multiple offers on them. The North Sharon Amity Area may not have as many buyers as in other areas but then you can buy at a more discounted price. Just be sure to buy at the right price and know what you need to do to the home to make it sell in today's market. I have flipped properties too so I have more insight than a lot of Realtors. If I can help you in any way, please let me know.
0 votes Thank Flag Link Thu Apr 26, 2012
Please let me know which area in particular you are thinking of buying in and I will be happy to analyze the potential for you. Please e-mail or call,
0 votes Thank Flag Link Thu Apr 26, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer