20876 Chaparral Circle, Lake Wildwood, 95946 Fixer, 1664 sf, listed for $239,000

Every fixer is valued based on the difference between what it will cost to make the repairs that will get it ready to rent resell, and the price buyers can be expected to pay for a move in ready home. We have lots of comparable sales of homes just like this one that are move in ready. We already know, with nice counters and appliances, all the repairs made, the floors fixed, the siding and decks finished and painted, new widows, and certification that the roof has five years or more left, this home would sell for right around $325,000.
A smart contractor might be able to make a buck or two on this house, but nothing jumps right out me and says this one is cash cow. The problem is the limited upside potential caused by the large inventory of Wildwood homes that are similar, already in very good condition, and owned by sellers who will cut their price to sell their home when the time comes. At any given time in the summer selling season there might be four of five homes with similar floor plans listed for sale in Wildwood, and as long as the supply of available homes exceeds the number of buyers shopping at any given time there will be downward pressure on price of the top priced homes in the group. Even if the home has new appliances and is move in ready, you wont go over some threshold price point that is limited by things you cannot change- the foot print of 1664 is still a small house, and it is two stories, even though all the living is on the main floor, and the garage is under the house…. all these factors set a high end price limit of about $325,000.

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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