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Foreclosure Home – Las Piedras

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We’ve come across a foreclosure home that is not in the MLS.  It is offered by auction and we are approved agents and able to offer it to our clients.

The home is in the popular Las Piedras subdivision in Sedona (Village of Oak Creek).

 

Features
Type :  Residential Bedrooms :  2-3 Size :  2,363 Sq. Ft.
Year Built :  1999 Bathrooms :  2.0 Lot Size :  3,485 Sq. Ft

 

 

 

One other home with the same floorplan is on the market at 449K.  This one at auction has a starting bid of $321,000 and a ‘buy it now’ price of $377,000.  These prices do not include fees and a buyer premium.  We expect the bank to hold out for the buy it now price or very close to it.

If you would like to see the property or have any questions please give us a call.  We will work through the auction with you.

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Awesome Views – Rare at this price – Video – $454K

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You won’t better views for the price.  This foreclosure needs a little bit of work but can be a showcase.  It does have stairs.

IF THE LISTING INFO DOESN’T APPEAR BELOW THIS LINE, THEN THE LISTING IS SOLD OR PENDING.

[idx-listing mlsnumber=”501969″ showall=”true”]

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MORE SEDONA FORECLOSURES

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$240K Bell Rock Blvd – Sedona

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Nice 3 bedroom home under $250 in Sedona.  Won’t last long so call us if you have any interest.

Call either of us to see this property

If listing data is absent below then the home has been sold

[idx-listing mlsnumber=”135310″ showall=”true”]

The latest Verde Valley foreclosure homes

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Flipping: How to Buy a Foreclosure in Sedona

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Flipping a foreclosure home in Sedona can be very lucrative if done right or  a disaster if done badly.  Once you have determined that foreclosure homes are best for you, see below for some basic ideas to make sure you get the best deal and don’t risk over-leveraging.

Determine a financial budget

Review your present financial liabilities and assets. Take into account all expenses:  housing, utilities, entertainment, savings, as well as other planned expenditures, as well as a reasonable cushion to ensure your security. The remainder will be your available funds to utilize in the buying of the Sedona foreclosure home. Keep in mind that even after the purchase, a foreclosure home in Sedona will cost money. You ought to expect repairs and maintenance before the property is livable, as well as a time of vacancy while you shop the home to purchasers or renters.

Arrange financing

Sedona foreclosure homes move fast- sometimes very fast. If you never want to be a multiple offer situation, you might want to think again about foreclosure homes. Since you now know what you can invest, you must have a lenders approval to spend it. Cash is king, but pre-approved financing is quite close, and merely the process of obtaining financing will give you an effective gut check of the spending budget estimations from step 1.

Bring in a professional

The purchase process for many Sedona foreclosed homes-particularly any being auctioned, allows very little time for personal inspections. Utilize a licensed home inspector with foreclosure knowledge. If you don’t know any, we are happy to make recommendations.  There’s simply no alternative to an effective inspection, but professional eyes can find the most significant, most expensive problems in advance and assist you to incorporate that into your offer. Make sure to maintain a running total of repair costs and subtract that amount from the spending budget. You don’t have to bite off too much.

Remain focused

As soon as bidding starts, it’s very easy to lose your head. The industry is full of foreclosures. Should you miss that one, you’ll acquire the next Sedona foreclosure.  Stick with a reasonable offer in a range within your budget and ultimately, you’ll choose the right property at the ideal price.

Coming soon…. what buyers want you to put into your flipped house for maximum profit.

 

Investing in Sedona Homes

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Sedona real estate prices are now at an all-time low. The increasing rate of foreclosures is now forcing many lenders to sell their inventory of homes at bargain prices. This is the primary reason why many real estate experts are now encouraging clients to consider Sedona homes as a low risk investment.

This is the a great time for aspiring real estate investors to begin acquiring Sedona real estate. Getting property within the Sedona area is not as difficult as you might think. There are foreclosed homes coming on the market almost daily. Let’s take a close look at the reasons why you strongly consider investing in Sedona foreclosure homes.

Exceptional Area That Will Increase in Value

It would be a mistake for you to buy investment property in an unpopular area. You will always face challenges when it comes to renting or flipping homes in an area that isn’t popular. You could even see home values deteriorate. One can easily lose their initial investment once the market value of their property decreases if you don’t buy it right.

Sedona is a incredibly popular vacation destination that draws many to eventually live here. Sedona is also filled with hiking trails, scenic vistas, mountain biking trails, incredible schools and a quality of life not found in very many places. Your property will likely increase in value significantly as the market improves.

High Loan-To-Value Rates

One must always take the loan-to-value factor into consideration when it comes to buying investment property. Banks, credit unions, and hard money loan sources will always determine the true market value of an investment home before disbursing funds at the closing table. Lenders will only give you a certain amount of capital to purchase and renovate the home. This is the main reason why you should focus on acquiring properties that are bank owned foreclosure homes or distressed property in Sedona, Arizona.

The current prices of Sedona homes will give you an opportunity to buy and renovate your property relatively easily. Lending sources are open to giving good loan-to-value rates to investors who are interested in purchasing Sedona real estate. You may qualify for a seventy-five percent loan-to-value rate. High loan-to-value rates will always increase your profit margin. You may not have any difficulty in getting high loan-to-value rates when you are ready to invest in Sedona foreclosure homes.

Excellent Passive Income Vehicles

Flipping homes has been very popular within the real estate industry over the years, but many real estate investors are now turning their attention to earning passive income. Flipping a home is wonderful, but the income stops once the home is sold to your end buyer. Passive income will give you a chance to generate a substantial amount of revenue without any effort. Placing a tenant within your property will put you in a position to earn a nice monthly profit.

One strategy is to flip homes until you can pay all or a great deal of the cost of a home and then rent it out for income…. then repeat the process all over.

Real estate prices are currently at an all-time low. This is the primary reason why many real estate experts are now encouraging individuals to get involved in real estate investing. Sedona foreclosure homes provide a wonderful opportunity for anyone who is interested in replacing or supplementing their current income. Sedona homes will appreciate in value as time progresses. They are also excellent passive income vehicles.

Why Purchase an REO (Foreclosure) in Sedona

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Here’s a short (2min) informational video on foreclosures or as they are called in the Real Estate industry, REO’s or Real Estate Owned… As in owned by the bank.

It’s really applicable to the purchase of a forecosure home anywhere.  It’s goes through the basic advantages of buying an REO or Foreclosure.  Your investment is much more secure buying it on the market than on the courthouse steps.

SEE THE VIDEO: Why buy a foreclosure?

Shopping for a Fixer Upper Home in Sedona AZ

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Shopping for a Fixer Upper Home in Sedona AZ

Sedona real estate and Sedona homes

Extreme Makeover Needed

It could be your finances or the excitement of accomplishing it all on your own, however you are looking in the Sedona AZ Real estate market for a diamond in the rough. Be aware though many are in a condition that will not be eligible for a mortgage until they’ve been repaired.

In the Arizona real estate purchase agreement, make sure that you include the provision for a home inspection for structural condition, problems and potential problems. This isn’t part of the appraisal, this is a much more detailed look at the condition of the Sedona home. A property inspection ascertains the wellness of the house you are acquiring in Sedona. Regardless of whether it is a bad roof, leaky plumbing or termite damage, a professional home inspector will locate the problems which will give you a better understanding if you want to take on the home repair project. After the home inspection, you will receive a listing of what requires to be repaired or swapped out. READ MORE: Fixer Upper Homes in Sedona AZ

A New Congress and the Housing Market

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Well, looks like we have some big changes in Congress.  Will it enable us to definitively recover or will it cause everything to grind to a halt?

Recovery from the Great Depression did not happen until the government created Fannie Mae to get mortgage money into the hands of the people so that they could buy homes.  If people buy homes, people get jobs and it all mushrooms into something good.

Our economic problems did not come from the automotive industry but you would have thought so with the ‘cash for clunkers’ program and it certainly didn’t have anything to do with Baseball players on Steroids.  Yet, thats where the last Congress chose to spend a great deal of time.

Lets focus on jobs and the economy, work together and get moving forward.

National Existing Home Sales Rise in September – Sedona AZ Real Estate Guide

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Existing-home sales rose again in September, affirming that a sales recovery has begun, according to the National Association of Realtors®.

Real Estate transactions which included single family homes, town homes and condos, rose 10%

The NAR chief economist, said the housing market is in the early stages of recovery. “A housing recovery is taking place but will be choppy at times depending on the duration and impact of a foreclosure moratorium. But the overall direction should be a gradual rising trend in home sales with buyers responding to historically low mortgage interest rates and very favorable affordability conditions,” he said.

The national median existing-home price2 for all housing types was $171,700 in September, which is 2.4 percent below a year ago. Distressed homes3 accounted for 35 percent of sales in September compared with 34 percent in August; they were 29 percent in September 2009.

Single-family home sales increased 10.0 percent to a seasonally adjusted annual rate of 3.97 million in September from a pace of 3.61 million in August, but are 19.5 percent below the 4.93 million level in September 2009. The median existing single-family home price was $172,600 in September, down 1.9 percent from a year ago.

I believe we are now scraping along on the bottom.  I’m seeing more people looking for lots and trying to get those view lots for 130K instead of the 580K that was paid in 2005.  If you want get a great deal. Now is the time to act and buy the Sedona Home or Sedona Lot.  Click here for my latest choices of Sedona AZ real estate bargains.

Troy

Contact Susan

Sedona AZ Real Estate Broker Susan Deierling, ABR, CRS
Assoc. Broker
RE/MAX Sedona
Sedona AZ
(928) 451-6098 mobile/text/VM
(888) 494-0470 (US & Canada)
susan@sedonaemail.com

Contact Me | About Us

Contact Troy

Sedona AZ Homes for sale Troy Deierling ABR CRS
RE/MAX Sedona
Sedona AZ
(928) 202-0700 mobile/text/VM
troy@sedonaemail.com

Contact Me | About Us
Realtor MLS HUD