Tuesday, December 7, 2010

House Now On The Market

Last time, I mentioned the property behind hard money loan #15 was about two weeks away from going on the market. I'm pleased to say it is now on the market! Below are some photos.

This is a bit interesting. The house isn't fully staged, just a few pieces of artwork on the walls and some plants. But I still think it makes the property show better than being completely empty.

The property is listed for $400,000. My partner's wife is the owner of this one and she bought it for around $299,000. When it was bought, our estimates of comps ranged from $375,000 (computer generated) to $400,000 (opinions of two real estate professionals who have lived in the area most of their lives). Our mortgage is for $220,000 or 74% LTV based on the purchase price. With the holidays approaching, I don't expect any movement on this until after the first of the year, but who knows.

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