Las Vegas, NV, September 16, 2011 --(PR.com
)-- The Property owner of the house on 17th street, in Las Vegas Nevada purchased this home at auction. Before finding a Real Estate Agent in Nevada to help him sell this flip, he browsed Craigslist looking for similar properties. This was also informing him of what the Fair Market Value might bring in. The owner did not live in Las Vegas and was unaware of property values in Las Vegas.
The Ballen Group had properties listed on Craigslist that were similar to the property on 17th and that is what inspired the homeowner to contact and contract with The Ballen Group. The Ballen Group used their comprehensive marketing system to put the house in front of as many buyers as possible which lead to finding a ready and willing buyer for the home. The home was under contract within the first 30 days, but the original buyer was unable to complete the transaction. The Ballen Group moved on to finding a 2nd buyer which did in fact close the transaction.
The specific Property facts in this case are as follows. The Homeowner purchased the property for $43,000. After some minor cosmetic improvements, and some pool repair, which took about five days and with costs about $15,000, The Ballen Group listed the home for $84,900. Richard Ballen, the listing agent also coordinated all of the vendors and reputable contractors for speedy and extremely efficient work. It sold for $87,000. The seller contributed $3,400 in closing costs and bought the home using an FHA Loan.
The Las Vegas Housing Market is still seeing a lot of flip properties. Many savvy investors are purchasing homes at rock bottom prices, putting in costs for repairs and cosmetic improvements, and are seeing a profit at the closing table. There has been a decrease in this type of transaction over the past couple of years, but if done right, can still be a profitable, though Risky venture.
A 3 part video series including the introduction, before shot, and after shot with closing of the home can be found on Richard Ballen’s YouTube Channel.
Part 1 http://youtu.be/LelBPJClj-E
Part 2 http://youtu.be/QXt5bmcB-7E
Part 3 http://youtu.be/irn2wwAgAzU
Richard Ballen, The Wizard of Las Vegas Short Sales, works his team magic and gets the deal done! For additional information on The Ballen Group and consulting with a Las Vegas Short Sale Specialist, Call 702-482-7738 or log on to http://www.TheBallenGroup.com