Today’s FDotD is a 1995 3/2.5, of about 1214 sqft. From records, it seems to have last sold in 1999 for $81K. Which means that despite it’s current very low price, this home has appreciated in value at a rate of better than 5% per year. You could do worse on an investment, and can possibly expect similar results going forward, if you can wait a decade. Meanwhile, you can live in this investment as a roof over your head. Try that with a mutual fund.
If you are a first time homebuyer, the US Treasury will give you as much as $8000 to buy this house. If it’s not your first house, they may give you up to $6500. And all your mortgage interest payments can be deducted from your taxes. And, if you are eligible and act quickly, the buyer of this home looks to be able to take advantage of the C4-HAP housing assistance program, which offers a no-interest “silent second” loan of up to $65,000 to buyers, that will be 100% forgiven after you live in the house for 5 years. What more can you ask? Seriously. We can’t remember so many incentives to buy being available ever before, and to top it off there are lots of decent homes available like this one, at very reduced prices, and at historically excellent rates.
Right now, this particular bank-owned home seems to be an unwanted asset of US Bank. Their interests in this sale are being represented by foreclosure listing agent Joel Case of Showcase Properties. He writes:
“Charming Two-Story, Quiet Neighborhood. All bedrooms are up, all living is down, laundry is in the att. garage. The seller requests that buyers complete a pre-approval with their financing partner,”
We like Joel’s play on his last name for his brokerage, Showcase Properties. We suggest that if he has a son, he should be named Justin. And then if he gets in the business, he could call it JustinCase Properties. Hee.
In any case, call us up and we can get you in to case the place. Once it’s gone, it’s gone; case closed. Just in case your were interested. OK enough of that. We are provided with just the one photo for marketing and you’ve already seen it.
Call (530) 244 7603
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And what if you make a bad investment decision? Why, you may get a do-over, commonly referred to as as a Loan Modification or Principal Reduction. Since we inhabit an era when large banks and investment firms are considered too big to fail and bailed out when they do collapse, why shouldn’t you personally expect a do-over as well? Moral hazard, it’s the new American Way. Principal reduction do-overs aseem a natural result of our reduction in principles.
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