Monday, July 24, 2006

Very nice home(not lakefront) sold at auction!!

Just wanted to update the readers about a home on 1.3 acres that slipped into foreclosure and sold at auction. The property located at 20 Aspen Circle just sold at the foreclosure auction for
$189,225.07. This lakewood property was purchased by another realtor who saw the value there and jumped on the property.

Actually this property was listed 2-3 different times with the first and second times when sales were slow. The owners had moved out of state and decided to rent out the house to someone who said they were going to purchase the house. However, the potential purchasers credit went south and they were unable to purchase. Here they were renting the home and now the owners wanted to start showing it again to other potential purchasers. Needless to say, the renters at that point were not motivated to let house be shown. This is a very good example (Lakewood owners) not to rent your house out to someone who says they will buy later. Later never came!

The current tax appraisal on the property is $202,900 and actual value by my calculations is
$225,000-$232,000. The house is a two story with 3450 sq feet living area and has an attached 2 car garage and detached 2 car garage.

This realtor got a real deal indeed! Should the current Lakewood owners read anything into this? Just do not rent your house out to potential buyer and be an out of town landlord.

Values are still great and demand high. I talked to a realtor in southern Florida who has referrals for me if I can find the lakefront properties for her clients.

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