I am a local Realtor and would be happy to answer any questions you may have. I also work closely with an excellent mortgage broker who is well versed in 203k mortgage loans and she would be happy to help you! Give me a call or send me an email and we can proceed from there.
Happy New Year!
Jami Robson... more
Bargain property is selling the best and the better the value (more reasonable), the shorter their market time. According to the Northwest Multiple Listing Service, the median price this June was $235K, with last year's median price at the same time being $265K. Being a seasoned investor who enjoys helping other investors, you understand that buyers living in a home typically will pay more for their dwelling than investors. Our team's criteria in getting into a home (in this buyers market) is MAO (Maximum allowable offer) = 40% x ARV (after repaired value). This is far below the 70% normally asked, but because prices are still bumping around near the bottom, and nobody knows how far down the market will drop (much like predicting the weather), a good cushion must be had going into the sale so you are allowed enough time to rehab the home without going under.... more