Here are a few of the latest blogs that I sent out on my e-mail newsletter.  If you want to receive these just drop me a note.

Real Estate Aficionados: 

Thanksgiving  specials!!! 

Wow, two really good deals on the market now. 

MLS 634905  8.5 ac.  for $135k on Carnation Rd.  just north of Olathe and about 1 mile East of Hwy 50 N. 

This property is not in a subdivision, has irrigation water, good access, great views, easy to build on and VERY importantly does not have a lot of crazy covenants.  IRC home are allowed, horses, cows, chickens ok.  Make sure the rooster isn’t two noisy or gets up late.We have access to financing  so don’t worry about that.  Give me a call or e-mail. 

MLS 635277 1016 Sunnyside, $144,900.00, 1834 S.F., that’s $79.01 per S.F.  3 bed, 2 bath 2 car garage. This is bank owned property!  I haven’t been in but I’m sure it needs a bit of work.  Sunnyside is a fairly busy street, but there are some nice homes in the area.   Please note this price is what you would have paid back in 2002.  So is it a good deal? Oh yeah! 

Sincerely,Scott ScarboroughOwner/BrokerMontrose-realestate.comIf you do not want to receive these e-mails, please let me know.scott@montrose-realestate.comReal Estate Investment 101 

So what is really a good deal??  We all know the three L’s and that is still very,very important.  I would pay a bit more for property in a good location vs. less for a property in a bad location.   Grading location is another great topic and it may not be as easy as you think.   

We are still seeing a good number of REO properties coming on the market here in Montrose; some are good deals, others not so hot.  Remember what homes sold for in the late 90’s and early 2000.  I found some old flyers and the Price Per Square Foot (PPSF) was around $89.00.  If you see a home that has a PPSF less than that you had better take a good long look at it!!  I see one now at $79.43 and I’m definitely going to look at that one.  728 S. 9^th.   Give me a call we can look at it together. 

Now please remember these homes are not new and move in ready.  You had better be ready to get dirty, (maybe call Mike Rowe from Dirty Jobs).  Still if you do not have the time or energy to do the work, there are a bunch of folks out there that will do the work at a great price.  Give me a call for names and numbers. 

This will be a fun month and we can all start getting ready for the New Year. Make plans NOW. 

Please take a look at my newsletter via the attached link and don’t bring me any more turkey. 

http://realtytimes.com/133/ScottScarborough 

December 11, 2009 

Hold on, more government help is on the way!!! 

Actually this may be somewhat of a good deal.  If you know of anyone who is having a bit of trouble with their house payments and may be on the way to foreclosure, this program could help.  Basically bank would rather have the home sold vs. taking it back on a foreclosure so if the loan is NOT a Fannie or Freddie backed loan this new program could work for the home owner who is in trouble.  Please note that Freddie and Fannie will have a similar program very soon. 

Here we go… Home Affordable Foreclosure Alternatives program or HAFA.  This only applies to homeowners who are going to lose their home and this is a short sale program or deed in Lieu program. They are trying to streamline the short sale procedure which can be a real bear for both the home owner and potential buyer.  Determining an market price prior to marketing the property, clear cut time lines that everyone has to follow, monetary incentives to the home owner for relocation costs, removal of any potential judgment on the homeowner for deficiencies,  money to the closing company and money to the investor for allowing some proceeds to go to junior lien holders.   The program is covered in a 40 plus page document so it is not a coffee break read.  You may want to go to www.makinghomeaffordable.gov  for all the details. 

As I mentioned, the short sale process is a real bear, however for the investor or homeowner buyer there can be some very good incentives to work through the ordeal.  The new program is designed to bring the seller and potential buyer together in an open discussion format to lay out the details of what has to happen and get everyone to agree to follow the guidelines.  So if you know someone who could be in trouble, this may help. 

Ok, I need to pitch or try to sell two new listings.  These are not short sales, foreclosures or the like, just good solid properties which are good Real Estate buys. 

2501/2505 Sunnyside, Duplex, 1360 SF each unit, 3/2/2.  Price $325,000.00  Backs up to the golf course, fishing in the canal in the summer, well landscaped.  One side is rented for $850 and if you look at that price for the other side you could possible get a 6% cap rate on the investment.  We started our Real Estate buying program with a duplex.  Lived in one side, rented the other side out.  With a duplex or multifamily you have the option of marketing it as a residential or investment property, which can help. 

TBD Highway 550/Terrace Drive. $1,700,000.00 Wow that’s a bunch of zero’s, but don’t panic read on…  Just before you get into Ridgway, Terrace Drive is on the left or East side.  This road takes you into a small large ac. subdivision.  Adjacent to this subdivision is a 35 ac. parcel that has the high ground, incredible views, easy access and is in the city limits so you can develop at one unit per ac.  Now I’m not sure developing is the right way to go at this time, but if you want and incredible home site that you can at some time develop this is it.  Every time I walk around on this parcel I’m amazed, it is so nice. 

Have a great weekend… 

Sincerely,Scott ScarboroughOwner/BrokerMontrose-realestate.comIf you do not want to receive these e-mails, please let me know.scott@montrose-realestate.com