16485 Greenhorn, First large 4 bedroom on over an acre in desirable neighborhood in about a year. This fixer listed for $299,000.

This fixer compares almost exactly with 11148 Glenn Meadows, a home I featured on my blog a year ago and sold for $295,000. That home was a bank owned repo, this home is a regular equity sale, but the condition of the home, and various features of the homes make for a good comparison. In both cases, the finished home would be worth something on the order of $500,000. Whether a contractor can fix this up and flip it for a profit depends on what can be saved and what will need replacement or upgrading. We can see plainly the siding has failed, and it likely needs a new roof, but the kitchen looks like it can be salvaged. The home also lacks covered parking, and has relatively little usable land. since it almost certainly will only sell to a contractor and investor, it will be interesting to see what value buyers put on this home, and what price they pay to have the opportunity to make a profit on their remodeling and upgrading of the home.

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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