Thursday, December 17, 2009

An Eccentric STEAL!


In piggyback to my post below about the foreclosure home we fell in love with, we have another that has a ton of potential, showing us now what to look for.

This home has been listed for some time (the foreclosure below was on the market for only 8 days when it went under contract), so it speaks a lot to the power of photos.  All it had listed was the price (a steal, actually the same price as the other foreclosure) and this sketchy photo of what looks like a mess of a mansion-ette.



I looked at this one a few weeks ago and said. . .yyyeeeah. . .wow. . .ummm. . .

Gosh how wrong I was.  They posted 10 photos of the inside of this home last week, and just like that it's now under contract (boo!).  So Dave and I have decided that when these ridiculously priced bank owned properties pop up and look sketchy at first we HAVE to check them out!

Ok, so, this is another mid-remodel foreclosure.  It sold off an on since it was built for prices in the $450 - $700K range depending on the market.  Believe me when I say that they are offering this one at LESS than $300K right now.  These bank-owned properties are such a steal if you find the right property!  I mean, check out the instant equity in something like this. . .you buy it, finish the remodel, and turn around and sell it for $600K.  Cha-CHING.

Since I'm the diva when it comes to finding ridiculous deals on stuff, DH and I both figure at some point we're gonna land a house like this for the same price as say. . .a home that looks like this one below, which is being offered for $75K MORE than the foreclosure above:



YIKES.

But I digress.  I'm highlighting this mansion-ette because it's SUCH an interesting property!  If it wasn't under contract DH and I would definitely go check it out.  We should have contacted the bank about it before all the photos of the inside went up, because once people saw inside they jumped on it.

The kitchen. . .this home is FULL of angles and dark wood and stone.  It has a ton of character!  That is a chef's kitchen, and check out the green wooded lot out the windows.  WOW.   Like most foreclosures, appliances are missing but at the price you get these homes for a new $2000 refrigerator is an easy investment and provides that added opportunity to get what you want.




A really fun, rounded room contrasting all the sharp angles in and out.  The hardwood and everything appears to be in good shape.




Dave and I would not *love* this house - it's a bit dark and seems 'closed' in.  But for the price, it's worth finishing and capitalizing on the resell value!



The gorgeous master bath . . .again, might be a little dark.  But you never know until you actually get into the house.




As if this home weren't bizarre enough, this second bathroom is BEYOND weird.  To the point of being creepy.  But, again, you never know.




The listing says that there is an 8 foot waterfall in the entryway, and professional sound system throughout.  This home is basically a 'mansion' that needs a little love.  It's also extremely eccentric. . .not sure who originally built this place but heck, for less than $300K why not!   The bedrooms seem pretty normal, and I love the new knotty pine doors.




SO, since two of these amazing foreclosure properties have been listed for under $300K in the last month, our *hope* is that more come along and that's what we find to buy.

Fingers crossed!  I'm stalking the home sites waiting for them to pop up. . .it's fun, and gives me something to do besides play housewife, and is keeping me distracted from my increasingly persistent baby brain.  Oh poor Dave. . .

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