Location, location, location: the 3 most important factors when buying real estate.
What if your biggest desire is not necessarily location, but to take advantage of the high number of foreclosure listings to get the biggest house you can find for under $60,000? What if you wanted to avoid moving too far away from metro Phoenix -- but not live in a dangerous part of south Phoenix? Finally, what if you wanted a house bigger than a typical apartment? A house bigger than 1,100 sq ft? Where would you search for such a house?
How about El Mirage? That's where my client set her sights and offered on an 1,800 sq ft, 3 bed, 2 bath, 2 car garage home built in 1999. The accepted contract price? Would you believe $55,000?
$55,000 is the accepted contract price with one important detail: the kitchen had been stripped of EVERYTHING. No worries for my client who works for a major cabinet maker. She expects to spend $6,000 with her employee discounts to rebuild the kitchen. OK, so she's spending $61,000 and not $60,000.
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