Comments on: House #18 – Sold!

By: qknic

qknic — Thu, 28 Jan 2010 03:07:21 +0000

Steve,
Awww your correct I wasnt adding in the FHA rule. Amazing to have that many offers. Congrats

By: Steve

Steve — Thu, 28 Jan 2010 01:31:25 +0000

Hi Scott -

All of these properties are setting new sales comps in the market, so our stuff is usually the best inventory on the block (full rehab, standard sale, etc).

I checked, we’ve got buyers willing to pay over appraised value (full contract price) 4x. We’ve come to a middle ground 2x and been cut a long way 2x (one stupid VA loan).

How is investing in New Jersey going? Finding any deals?

By: Scott Costello

Scott Costello — Thu, 28 Jan 2010 01:24:19 +0000

I've been hearing a lot lately of people having to split the difference between the selling price and appraisal price. How often have you had to do that this past year? .-= Scott Costello´s last blog ..Some Personal Updates =-.

By: Steve

Steve — Thu, 28 Jan 2010 00:04:15 +0000

QKNic – We do not have a problem receiving offers on the properties. Almost everything we sell is to FHA buyers, so we need to wait out the 90-day rule. We put this one in escrow (after 15 offers on day 91), it just took 2 months to close escrow. Speeding up the escrow is a constant work in progress!

By: qknic

qknic — Wed, 27 Jan 2010 23:52:35 +0000

Good return on investment! Are you brain storming on possible concessions to move your houses quicker? IE “seller pays 3% towards buyers closing costs etc?
I have had good luck with a 2k appliance package and similar “look at me” goodies.

By: J Scott

J Scott — Wed, 27 Jan 2010 10:02:53 +0000

You guys are really cruising…congrats on the last couple sales and contracts!

J Scott
.-= J Scott´s last blog ..House #15: Officially Ours =-.