Hello everyone,
I just thought I would update everyone here in gorgeous Southern California. Happy Labor Day! Summer is officially coming to a close, and with kids back in school and the beaches a little less crowded, we are going to be finding people looking more at houses again as the weather cools. Homes under $500K are still selling like hot cakes.
I will be having a new listing hitting the market in a few weeks and thought I would let everyone know about it before it hits the MLS. It is located in Capistrano Beach of Dana Point and is a 3 bedroom, 2 bath home in the front and there is a separate casita (1 bed, 1 bath) in the back of the house with a private entrance and yard. Cute house with an amazing floor plan that also included ocean views! Currently, this house is being used as a rental property (rented at $2500 for the front unit and $1100 for the back unit) Rent paid to owner is $3600. Now, this short sale listing will be listed around $485,000 and it is highly likely that the bank will accept offers at that price based on recent comps.
I worked out the payment schedule and assuming you put down 20% (perhaps gifted from a relative or funded by savings, and based on current interest rates, your payments, WITH taxes (no HOAs on this property) will be under $2500 a month. This is a net profit investment that would make a great home for a family as well. You could rent out the back section (already tenants there that will want to stay) and your mortgage payment will be roughly $1,400 a month. That is cheaper than any rent you can find in the area.
I call this a "Pocket Listing" until it hits the MLS and would love to answer any questions about the property.
Also, as promised, here are my "Top buys of homes that are under $475,000 that include at least 3 bedrooms, and NO Mello Roos. Enjoy viewing the listings below:
Please click on the link(s) below to view property information.
The link(s) sent with this email will expire in 30 days on 10/9/2009.
Oh. . . if only I could.
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