14260 Pepperwood 3/2 in Lake Wildwood listed for $229,900 on 2.26.17

In my continuing effort to seek out and find homes of great value in a market place where inventory is lowest in ten years I go where new listings take me. With each effort I get a little more experience with the camera and editing. It is learning process for me. I admit that it will take a few more go rounds before I am proficient at making videos that really capture the essence of a home. Hang with me on this. Get your friends involved. My personal goal is have this system of shooting video of the best homes and best value as they get listed so you, my valued clients can see what no other site is offering, and get my unvarnished opinion.
Right now, I don’t actually shoot video of every home I see. Since the first of the year I have personally inspected 23 homes priced under $250,000. If you are looking for an entry level home or an investment property, give me a call. That’s what this is really all about. I want to be the go-to person for entry level and investment homes in Nevada County, and I look at every one they day they get listed.

12226 Torrey Pines, Lake of the Pines, lowest priced home on the market 2.20.17

Good Morning from the Corner Office.

I preview inventory every day.  Today I went all the way down to Lake of the Pines to preview a home located at 12226 Torrey Pines.  This home interested me because it is the least expensive home listed today in Lake of the Pines.  It is listed for$275,000, so I wanted to compare it to the   I  the Lake Wildwood subdivision where sold several homes last year in this same price range.  I keep my finger on the pulse of the market for all entry level homes in every neighborhood.  Entry level homes are a bell-weather for market activity.  Trends and turns in home prices show up first in the price entry level homes.  Sit back, let me do the driving, enjoy!

15122 North Bloomfield Bank Owned 960 square foot fixer cabin on 5.12 Acres

I went out to preview a banked owned listing on 2/15/17. The property is located at 15122 North Bloomfield about four miles outside of Nevada City. The cross Street is Mowery. The lot size is 5.12 acres, trapezoidal in shape with a long, pointed end that extends 800 feet back off North Bloomfield. The property is reasonably flat, nicely treed, and sunny in the center portion. It is surround by much smaller parcels, and while the home is set back from the street you do see neighboring homes through the trees.  The video captures the home. The list price on Feb. 15, 2017 is $254,000. It was listed on Jan 10, 2017, went pending on Jan. 20, 2017, and fell out of escrow today. The listing agent and sellers never reveal what offer they might have previously accepted or why the home fell out of escrow. There was no direct evidence of inspections having been performed by the previous buyer. The home would not likely qualify for conventional financing. There is evidence of a leak in the roof.   Nonetheless, this is premium “fixer” opportunity for an investor or cash buyer who wants to get into something they can remodel to meet their own specifications. I estimate that the home could need $100,000 in upgrades and repairs to bring it up to par with the neighborhood. The home is just under 1000 square feet. It could make a nice two bed-room two-bathroom home using the existing foot print and moving some walls to better utilize the space. Today, if the home were completed and upgraded as a 2/2, it would sell in the high $300K to low $400K price range, depending on the finishes. The home is probably habitable with far less than that. Certainly, it needs a new roof, might need new fixtures and appliances, but probably for $30,000 or $40,000 the home could be made quite habitable, and you still might be able to sell it in the high two-hundred thousand range, as long as the septic and well were both in good operating condition. As a rental, even with very repairs, the five acres and out buildings would currently rent in $1350 to $1700 per month range.