Richard Murp…, Both Buyer and Seller in 95501

I will Give you $44,500.00 Cash, Plus Relist the Property with you so you make another Fee as the Listing agen

Asked by Richard Murphy, 95501 Wed May 13, 2009

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This question is about this property: http://www.trulia.com/property/1043365579-2321-Florissant-Dr…

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10
Michael Mads…, , Las Vegas, NV
Wed Jun 2, 2010
I love these emails. The chuckle brightens my day in a down market.

Nobody got the memo about the banks looking for Fair Market Value in Short Sales as well as Foreclosures. I don't care how distressed the seller is, the bank will do their homework.
4 votes
The Ballen G…, , Las Vegas, NV
Thu May 14, 2009
This is a HUD home and they list and sell at about appraised value. Just FYI.
2 votes
Melissa Towb…, Agent, Las Vegas, NV
Wed Aug 18, 2010
You should put in a few offers and see how many other offers accompany it. Please go to Hud.gov and see Bid Results. You will see list price, offer prices and winning bids. Even at the Trustees Sale Auction that price wont get that home. Nice try.
1 vote
Len McGuirk, , Las Vegas, NV
Thu May 14, 2009
Are you talking about purchasing this property for $44,500? If so, I highly doubt this property will sell for that amount. It seems like a very unreasonable offer that will not be considered.
1 vote
Jerry Jenkins, Agent, Las Vegas, NV
Tue Jun 21, 2011
This unit sold 10/01/2008 for $263,368 to give you an idea of how far the market has fallen but then the bank foreclosed on 09/01/2009 for $80,000.00 and resold the unit to an investor for $85,000.00 on 06/01/2010.
The investor then listed the unit for lease at a price of $1,095.00 and it was leased in 25 days on 03/01/2011 for the original rental price. He then listed if for sale with tenant for $139,000.00 on 05/13/2011 hoping to "flip" the rental property but is not currently under contract and still waiting for a buyer.
Based on the history the odds of your offer of $45K being accepted are slim to none. Property values have fallen back to 1999 price levels in some parts of town but this is not Detroit so getting what used to be a $260K unit for $130K is reasonable and doable; getting a $260K unit for $45K is not unless the unit has been gutted for some reason. There are gutted units that can be purchased for less then $50K but you need to completely rebuild the unit to purchase at that price.
0 votes
Mark Berry, Agent, Las Vegas, NV
Wed May 4, 2011
The property is in contract right now with an investor. It is a short sale so if they fall out I can let you know.
0 votes
Sandy Worthen, , Las Vegas, NV
Wed Mar 23, 2011
If you're an investor, I can show you many houses in that price range. I work with alot of investors and we have never had a problem finding properties. I have lived in Vegas over 30 years and know the best places to buy. I would love to help you. Sandy
Mylasvegasrealestate.com
0 votes
Rosemarie Ku…, Agent, Las Vegas, NV
Wed Mar 2, 2011
That house is not for sale, per the MLS...
0 votes
Andrea Packo, Agent, Las Vegas, NV
Wed Jul 14, 2010
Richard -
The asking price was $135,000 and it was NOT bank owned. It is a rental and is rented for a year so the lease came with the sale. However, this property has been withdrawn. Even distressed equity sellers are asking market price. The days of "flipping" in Las Vegas are over.

With 5-6 buyers for every property, and almost every correctly priced home receiving 6-8 offers, there is a bidding war occuring in our market. Many of my previous "flippers" are converting to landlords and planning to hold the property for 5 years to hopefully increase equity and earn an ROI at the same time.

Andrea Packo
MBS Team Buyer Agent
Keller Williams
702-279-7679
Web Reference:  http://www.andreapacko.com
0 votes
Sonia Eldar, Agent, Henderson, NV
Tue Jul 13, 2010
Banks will only sell at or slightly below appraisal value.
Nice try though!
0 votes
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