Tag Archives: Bank Owned

Auctions! Going, going, gone!

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Something sort of new in our Jacksonville/Onslow County area market is real estate auctions.  One took place this morning on Pollard Drive.  About twenty folks attended the event on the home’s front lawn with the proerty going for 77,000.  Homes in this development, depending on condition and heated square footage normally sell in the ball park of 130,000-140,000.  The home wasn’t in fantastic shape; as a rule of thumb, if folks can’t pay their mortgage, they aren’t doing general maintenance or repairs as needed (I suspect, market value of supplies and labor on repairs in the 20-30k range).  So, the home had to be paid for, cash.  The repairs, cash unless you are your own repair person or working with one as a team and you must hang on to the property for 120 days as per new “flipping” regulations.  So, this isn’t a fantastic match for everyone but, if you’re interested, I can obtain a list of bank owned homes for you, free of charge, no catch, however, I’d like to make sure it’s a viable option for you.

I get lots of questions as a Real Estate Broker regarding bank owned/reo properties.  There’s lots of talk about buying these distressed properties which somtimes can be a great value, however, in many instances, the type of money (cash, mortgage, etc.) you can purchase the property varies.  Many moons ago lenders and investors were trying to sell the property for what was owed on the note, which, in a round about way you can still find these properties but generally only when there is a tax lien on the property. . .in which case it’s a cash only transaction.  Short sales, auctions, and conventional sales, I’m sure you have a million questions.  I’d love an email and would be happy to answer and hopefully, make the process make a little more sense.

There’s one more area auction for a home on Warlick in downtown Jacksonville on December 8th.  If you’re interested in this home, check http://williamsauction.com/Search/mySearch.aspx?keyword=28540&p=1.1   for more info on time and location.  If you’d like more info on other homes, please check out www.910homes.net  or email me for a custom search of homes that are tailor made for you.

Twitter me!

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So, yes, I thought I needed one more electronic networking platform. . .find me on Twitter. . .I’m realestatekenz and follow me, I’ll follow you back!

and check out 910homes.net because, I love the smell of contracts in the morning, smells like victory!

SHOP AT A FABULOUS OPEN HOUSE

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HIYA Folks!

Some loverly ladies I know are hosting an open house for their various home-based businesses. . .a great opportunity for pre-holiday shopping!

This Saturday from 4-8 at 340 Rock Creek Drive South Juli Braatz of Tastefully simple (jbraatz@ec.rr.com), Karen Trimble of The Pampered Chef (www.pamperedchef.biz/karentrimble) , Katie Curry of Cookie Lee Jewelry (katecurry@cookielee.biz) and Laura Danford of Arbonne International (www.lauradanford.myarbonne.com) .

These ladies request an rsvp to any of them so they can prepare for the number of guests who will attend.  Bring friends, have fun shopping!  I hope to bump into you there!

www.910homes.net

www.mckenziesellshomes.com

Check me out on LinkedIn!

~McKenzie