10441 Broken Oak Court, Penn Valley ranch style fixer for $229,000

If you are looking for an investment home, either to fix and flip or to rent, then a three bedroom two bathroom ranch style home is the right floor plan, less than 20 years old and in a decent neighborhood, this home fits the profile. Then the question becomes, how much will it cost to get it ready to sell or rent, and what will it be worth when the home is ready? This home took just nine days to go pending, so somebody did the math and felt it would work out for them. But have a look around- the bones might be good on this house, it isn’t that old, but every fixture and every cosmetic detail, from the landscaping to the light bulbs is either missing, broken, or so badly soiled it needs to be replaced. Missing and broken doors only add to the cost, and the garage, converted to living room, means there is no covered parking for a car.
The true measure of value is always what a buyer and seller can agree on price. The buyer who will pay the highest price typically get the home. When it comes to fixers and investments homes, the buyer who gets the home is the
one who will accept the slimmest margin between the purchase cost, the repair cost, and the final value. We learn about the market by looking at what investors are paying for fixers, and we get a heads up to look for homes that need little or no repair but are priced in the same range as these total fixers. A prudent buyer waits for the opportunity home that needs little or no work, but has an asking price in the same ball park as a total fixer like this one, or the others I have previewed. Have a look at Juanita Court, Chaparral Drive, or Jayhawk (previous blogs) to get an idea of what else investors are looking at.

Author: gordon

Nevada County Resident since 1988. Painting and Decorating Contractor 1985-2003 Nevada County Realtor Since 2004 Member of the Nevada County Masters Club (top producing agent) Every Year Since 2004

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