I once read that the best investors often make 100 offers before getting a deal. 100 seems like a lot, however, it is important to make offers! You never know unless you ask. Although this property has had pretty signifigant price decreases, I would not recommend paying more than $300,000 for it. In addition, I would ask for $6000 for closing costs and $10,000 in concessions for repairs. Using a $300,000 purchase price here are the IHB's calculations

RentVsOwnulator™

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      This property includes association pool, spa, and tennis, and is in need of repairs. It could be a fantastic opportunity for the right price. The property will conservatively rent for $2000 and will most likely lease in 30-60 days. I have relationships with licensed contractors that can assist with the bidding for repairs; repair time is of the essence!

  

Shevy Akason

Residential

Fri, Feb 6, 2009 07:56 AM

Ref: 1

Condominium

Attached

RES

Active

Lake Forest (LF)

Price $339,000*

	Lake Forest North (LN)				Zip 92630-6528		TGNO 892B3
	Orange County (OR)		XSTS El Toro Rd/ Aliso Park Rd
	S545006		Media: 10	Builder Tract Grandview (GDV)
	Style Townhouse
	Bed 3		Model (0)
	Baths 3		Stories Two Levels		Floor				Floor 1 of 2
	View No View				HOA Dues $ 230 + $ 0
	ASqFt 1,605   Assessor		YrBlt 1984  Assessor		Land Fee
	ALotSize 0				Dim	Acres
	Prkng Direct Garage Access, Garage Attached
	Garage, # cars 2 A	Remotes	# Uncovered Spaces	Carport	# Garages	RV Access	Range Price Listing: No

Charming end unit in Lake Forest. This home features 3 bedrooms, 2.5 bathrooms, an enclosed patio, a living room with a fireplace, a kitchen with a breakfast counter, a formal dining area, and a master bedroom with a walk in closet. Home is in need of repairs and personal touches throughout but has plenty of potential.

Special Conditions: REO/Lender-Owned

Contact Information

This Report was created by:
Agent: Shevy Akason	Phone: 949-769-1599	Mobile Ph:	Pager:
Office: Evergreen Realty	Fax: 949-387-7041	Email: shevy.akason@evergreenrealty.net	Website: http://www.evergreenrealty.net	Blog WSite  http://orangecountycaliforniarealestate.blogspot.com/

Listing Activity

LP/SqFt $211.21

Orig Price $ 379,900

Prev Price $ 379,900

Current Price $339,000

Property Type:   Residential Lease       Status:   Leased
Subject Property
#	MLS#	Type	A/D	Address	City/ Area	TGNO	Trct/M	Bed	B t/f	Stories	Gar	SqFt	YBlt	Lse	Term	Sold Price	SP/ SqFt	SP/LP	SP/OLP	Sold Date	DOM
1	S541466	CONDO	A	26404 Waterford Cir	LF/ LN	892B3	CRT /X	3	3/1	3	2	1,420	1989	12	Months	$2,000	$1.41	100.25%	89.29%	9/05/2008	43
2	S545889	CONDO	A	26367 West Grove Cir	LF/ LN	892A3	CRT /D	3	3/2	2	2	1,420	1986	12	Months	$2,000	$1.41	100.00%	100.00%	10/15/2008	25
3	S517300	CONDO	A	26351 West Grove Cir	LF/ ln	892A3	CRT /L	3	3/1	2	2	1,500	1986	12	Months	$2,100	$1.40	100.00%	100.00%	2/13/2008	36
4	S524358	CONDO	A	22275 Newbridge Dr 34	LF/ LN	892B3	GDV /b	3	3/2	2	2	1,556	1985	12	Months	$2,100	$1.35	100.00%	100.00%	6/01/2008	85
5	S539120	CONDO	A	22271 NEWBRIDGE	LF/ LN	892B3	GDV /B	3	3/1	2	2	1,687	1984	0	Months	$2,100	$1.24	89.36%	89.36%	8/01/2008	25
Average								3			2	1,517		12		$2,060	$1.36	97.92%	95.73%		43
Number of Properties: 5
Average ( SalePrice / SqFt ) : ( 2060 / 1517 ) = $ 1.36

 Shevy Akason and Associates
"We're not Just Real Estate agents, we're real estate consultants"
Shevy Akason | Realtor | Evergreen Realty
 Phone 949.769.1599 | Fax 949.753.0671
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