Chicopee Short Sale Wrapping Up

September 20, 2011 by Leave a Comment

We are finishing up the short sale rehab that we started a few weeks back. It is a pretty light rehab but we’ve been bouncing our guys back and forth between a few different jobs, so it’s taken a little longer.

We pulled up all the nasty, smelly carpets in the house and found some real nice hardwoods that ran throughout all the main living rooms.

We made a lot of cosmetic upgrades and improvements, but we left the kitchen and bathrooms as-is for the most part.

Our plan is to blow it out below market value to some lucky first time homebuyer who won’t mind that the kitchen and baths are not totally updated like we usually do.

Here’s a look at the progress so far:

Home for Sale Chicopee MA

 

House for Sale Chicopee MA

Kitchen

Kitchen 2

 

Living Room

First Floor Bedroom

Half Bath

Second Floor Bedroom that was Neon Green

Second Floor Full Bathroom

Freshly Refinished Tub

Second Floor Bedroom

 

All the trim throughout the house had a natural wood finish with a coat of polyurethane…. it was in real good condition so we just kept it. I always prefer the nice bright white trim, but in this case the work needed to sand and paint the trim wasn’t worth it.

Our next step is to get the house cleaned and staged.

We’ll pay extra special attention to staging the kitchen and bathrooms real nice, since we didn’t do our normal “full” rehab on these rooms.

I think it’s gonna look great once staged….

 

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New Short Sale Deal – Chicopee

August 29, 2011 by 4 Comments

Here is the new short sale property that we picked up in Chicopee.

This is a 4 bedroom 1.5 bath cape with around 1,400 square feet. It’s located in a great neighborhood in Chicopee filled with similar starter homes.

It’s actually in pretty good shape and we plan on doing just a light cosmetic rehab; a quick fluff and buff. The exterior will be powerwashed, we’ll remove the ugly awnings and clean up the yard and landscaping.

Inside we’ll remove all the carpeting and shine up the hardwoods. We’ll patch and paint all the walls and ceilings, add new light fixtures,new ceiling fans, new switch plates and outlet covers.

We’re going to keep the existing cabinets and vanities, we’ll just dress them up with a little brushed nickel hardware.

Once all this work is complete…. it should only take a few days…. we’ll blow it out at a nice below market price to move it fast

Here are the before pictures for your enjoyment.

Chicopee MA short sale

Short Sale Chicopee

Kitchen

Kitchen

Half Bath

Full Bath

Living Room with Nasty Carpet

Bedroom

Neon Green Bedroom!!!!

Basement

Rear of House with Dormer

There it is… the classic New England Cape.

It already has the dormer off the back which is great. It makes the second floor so much more functional. We’ve got big bedrooms and a full bath on the second level.

 

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In other news, we closed on our first tornado damaged house in Springfield.

Here it is:

Tornado damaged house Springfield MA

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A really big tree came down on the whole right hand side of this tornado damaged home and took out the roof and most of the second floor of the house. I guess this is why they tell you to get in the basement when there are tornado warnings. Fortunately the house was vacant when the tree came through the roof.

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We are working on buying a couple other tornado damaged houses in Springfield and Wilbraham.  The tornado damaged houses should be some pretty interesting projects so I’ll keep you updated on these.

Well that’s it for now.

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Bank of America Short Sale Approved…. and Closed

January 27, 2010 by 5 Comments

Everyone thats ever attempted a short sale knows that there is nothing short about the whole process…. as was the case for the short sale we just closed on today. I met with this homeowner about a year ago…. January of 2009. It took two appraisals and 12 months time, but we got Bank of America to approve the deal and we finally closed on it.  We got a really good deal on this property, as is the case with most of the short sales that we buy, so it is definitely worth the wait. My strategy with short sales is to just jam them into our pipeline and sit and wait. I never know when they will get approved, or even if they will get approved at all….. but its always a pleasant surprise to get that call or email with an approval.  

This is another one that we started work on before we even owned it. A little risky, but we actually received the short sale approval letter in December and they gave us over three weeks to close it….. which really surprised me because usually they are drilling you to close within 10 days.

Heres a look at the property, located on Ravenwood St in Springfield;

Kitchen

Dining Area

Living Room

Bathroom

Bedroom

Roof Leak.... always a plus on a Short Sale

Bedroom

Garage Full of Junk

Basement Full of Junk

You’ll notice that this house had an active roof leak, which is always a plus when you are negotiating a short sale because the bank knows that no FHA buyers will be able to purchase the house. Use this as ammunition to drive the price down. 

I think we may have another short sale very close to approval. Should be another good deal, I’ll post more about it as things materialize.

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