Investors love fixers!
And why is that? It is because an investor is not afraid to do the work necessary to "add value" to a house that has been neglected, needs updating, or has lots of deferred maintenance. In any housing market, a "fixer" usually commands a respectable discount, enough to allow for at least the costs of fixing up the property. Most investors will be looking for an even steeper discount, in order to minimize their risk, such as unforeseen fix-up costs, changes in the marketplace, holding costs,etc.
Fixers tend to be snapped up fairly quickly in high demand neighborhoods, where inventory tends to be lower and houses are generally kept in top condition. When they do come onto the NWMLS, they are gone quickly.
For my upcoming tour this Sunday, Aug.21, I will be focusing on fixers in the $200K - $300K price range, in nice central neighborhoods like Leschi, First Hill, Beacon Hill and Columbia City. These are still fairly desirable neighborhoods, close in to downtown Seattle, with good sales activity - and where the supply of fixers are more plentiful.
So stay tuned to this blog, where I will post the schedule of houses to be featured on this tour by Thursday, at the latest.
For more information on our Sunday Tours of Homes in Seattle this month, please call 888-621-4999 x4. Or send me a private message. The tours are FREE and I look forward to meeting you there!
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