Why is this home so cheap? Would it make a rental that would attract a reasonable tenant? Is the current occupant tenant or owner?

Asked by Barbsonn, Carlsbad, CA Sun Jun 3, 2012

This question is about this property: http://www.trulia.com/property/1039136340-107-Lincoln-Ave-Wo…

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Carol Coder, Agent, Davis, CA
Mon Jun 4, 2012
This home is a short sale and has an offer on it that has been sent to the bank for approval. There could be several reasons why it is so cheap, but one of the main reasons is that it has no heat other than the fireplace. This would make it difficult to finance. We see a lot of homes in this price range selling all cash to investors who either fix them up and flip them or keep them as rentals. There are other homes on the market near this price. Call me at (530) 304-6176 if you would like to discuss the other options.

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Katie Kirwin, Agent, Woodland, CA
Sun Jun 3, 2012
This is a beautiful little house that is being sold as a Short Sale. They have accepted an offer and are working on obtaining the lender's approval. The property seems to be unique in that it doesn't have a working heat source other than the fireplace..........the pricing generally would reflect the condition of the property. Keeping in mind, however, that when we list Short Sales, we take our best estimate to what the fair market value would be.
Definitely could be a great property for a rental once it's fixed up!
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