This was a productive week for us! We put three houses under contract and I think we will probably get at least one or two more next week. House #18 pictured on the right is a total mess. The layout is terrible, it is missing a kitchen, and it got 15 offers on the first day, I’m sure most of them above the asking price and somehow we got it. That’s how crazy this market is.
House #17 we have been working on for a long-time. It has gone to highest and best three times, with us missing every-time and for whatever reason the buyer always ends up walking away. It is a 4 bedroom, 2 bathroom house that needs a lot of work (probably a 30,000 repair). The kitchen needs complete renovations and it needs some major TLC everywhere else. Overall, the layout is acceptable so we do not have to do anything too aggressive. It is in a much better area than our main market, but we love to buy houses in this city at the price level we got this one. The other exciting part is, the REO office that sold us this property, is probably the biggest on in the area. So we are hopping to close quickly and impress them and do a lot of business with them.
House #18 is a 4 bedroom, 2 bathroom with about 1,400 sq ft. As I said above the layout is terrible. We have some big ideas for this one we are going to move the interior layout a bit and add a “true master bedroom”. We also bought this one from a biggish REO office and are hoping to do a lot of business with them as well.
That makes for a very exciting week. We don’t want to get to many because we think that inventory levels are going to increase drastically around November or December.