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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (49865)	3/9/2006 11:08:42 AM
From: GraceZ	Read Replies (1) \| Respond to of 306849

You figuring in commissions and other costs? Yes. How long has it been on the market? Two months, he took two months to clean it out and fix it up altogether he owned it for 4 months, so he's trying to make 20k on 210k in 4 months. I think he'll eventually wind up breaking even or wind up with a small loss. When I acquired the property a similar property would have sold in less than a week but at 20k less than he is asking for. All of the inquiries I got were from investors. Investors were buying from other investors. It was worth it for me to sell it fast and not do what he did, fix it up to sell to a final owner because it would have been a very large headache to have four sisters and one brother second guessing me for months at a time. I've done major renovations before and I know how much it takes. Every time I did the calculations we came out ahead selling "as is" to an investor and taking the money.