Strahm Sells!: October 2010

Home buying and investing should not be a game of Blind Man's Bluff!

Not sure whether to scratch my head over this one - or to just laugh out loud!

Here are the public remarks for a home for sale in my area:

 

Are YOU that special buyer to know a great opportunity when you see one? This is NOT for the everyday buyer; this is an investor's dream property within built in equity AND cash flow. This home is priced $100,000 under market value because the out-of-state owner wants it sold YESTERDAY- not due to condition but due to the need to clear it off the books. Here's the deal: the home is currently occupied by the former original owner, now a tennant, at 1800.00/mo rent- there is no written lease in place. The tennant, at this juncture, is not permitting access to home, so OFFERS FROM BUYERS WHO CAN PURCHASE WITHOUT INTERIOR ACCESS (APPRAISAL, INSPECTIONS) will be considered at this time.

 

This reminds me of a line from a Bruce Springsteen song, "You know playin' blind man's bluff is a little baby's game."  (NO Googling, now, who instantly knew which Springsteen classic that one came from?)

This home is currently being offered at $325,000.  The neighborhood is a nice grouping of slightly aging (20 year old) two story colonials.  This home sold only two years ago for (drum roll please) -- $325,000.

So - my questions:

  • If you bought it two years ago at $325,000, why is it "$100,000 under market value" at its current price of $325,000?
  • You expect my buyer to buy it sight unseen.  In this market.  For cash.
  • This original owner tenant who won't let anyone inside his house.  Sounds like a nifty eviction issue in the making.  My investors LOVE that kind of challenge!
  • Psst - you do know about the largest road project in Montgomery County (the 202 Parkway Bypass) that is currently being built two houses away, right?
  • Also two properties away is a similar home that sold six months ago for $344,550.  You may say that was under market value, too.  Because of the grizzly and well publicized home invasion murder that took place there!

Just my humble opinion, but it might be easier to sell this home if you actually had the ability to let people in the front door . . .


 

 Richard Strahm is an award winning Realtor specializing in the North Penn areas of Montgomery County -- Lansdale, Upper Gwynedd, North Wales, Towamencin, Hatfield -- and beyond!  Visit him at www.a4square.com or call today at 215-853-2624 for a free and private consultation about all of your real estate needs.
 
 
Richard Strahm
Broker / Owner
Realtor, ABR, CRS, PSA, SFR, SRS, SRES
 
American Foursquare Realty - Lansdale, PA

415 North Broad Street
Lansdale, PA 19446

Direct: (215) 853-2624
Office: (215) 647-0700
Fax: (215) 529-8931

Email:  Richard@a4square.com

www.a4square.com

PA Lic # RM423982

Copyright © 2010-2018 Richard Strahm.   All rights reserved worldwide.

Comment balloon 13 commentsRichard Strahm • October 25 2010 10:04AM
Home buying and investing should not be a game of Blind Man's Bluff!
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