I’d really took a bubble mentality to buy those houses in 2007 and then sink $100-200k into them for improvements.
Buyers today, are not only getting lower prices, but they are getting the pool, landscaping and improvements for “free”.
[quote=ocrenter]
now head out and take full advantage of the situation! =)[/quote]
I’m trying. ;)[/quote]
In the case of Cobble Creek, the house was purchased for nearly $1.2 mil. $200k in improvements on these homes inside and out is doable, but only if the homeowner is quite savvy. If someone bought at the peak, most likely they went on to put another $300-400k inside and out. So basically possibly getting $600k in discount if you are the successful short sale buyer.
