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"TFA Tuesday" featured article: March 2014 Market Update for Fix/Flip-- True Freedom Achievers' Weekly Newsletter -- where you get Top-Notch Info & The Best Deals! 
 

True Freedom Achievers, LLC
602-538-7331 - Mobile  Mike@MikeLima.com

www.TrueFreedomAchievers.com

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It's "TFA Tuesday":  True Freedom Achievers' Weekly Newsletter -- where you get Top-Notch Information & the Best Deals! 


Quick Market Update for Fix/Flip Investors:

By: Mike Lima 
 
Comparison of Jan & Feb 2014 versus Jan & Feb 2013
     Median Sales Price:  $182k vs $158k last year (up 15%)
     Avg. Days on Market: 77 versus 67 last year (up 15%)
     Sold Properties:  10,359 versus 12,430  last year (down 16.7%)
    
                         
(Stats provided by ARMLS for greater Phoenix area)

Home Prices have recovered nicely in the Phoenix area over the past several years, increasing over 70% since August 2011. While it's great to see that appreciation in value, and to see most homeowners back in the black after being underwater with their mortgages, the best thing for the long-term market is for slower, stable growth. That stabilization appears to be happening.

While prices are still going up, inventory levels are also rising, back to 'normal' levels. Homeowners are finding that they have equity again, and are finally able to put their homes on the market; and these sellers will turn into buyers as their current homes sell. This new inventory is almost all traditional inventory, not Short Sales or Bank REO's. Nicely remodeled properties that are well priced are still selling quickly at strong prices.

The Institutional buyers (hedge funds) have got their fill of rentals and have largely moved on to other markets, which is a positive thing for Metro Phoenix as it allows us to have a stable market without the exaggerated effects of their significant purchase volumes. 

All of this indicates a balancing of the market, which is welcomed by most as it allows for more predictable profits when fix/flipping or buy/holding. Median Sales Prices are up, including on Investor Flips. The Luxury Market ($500k+) is strong after suffering for several years. Interest rates remain at near record lows. The traditional strong season for Arizona is about to begin...

For more, Click on Video Blog below for how the current market affects Fix/Flipping:



 

Real Estate Humor:

Featured "Pin" of the Week:



Quote of the Week:

"Believe in yourself! Have faith in your abilities! Without a humble but reasonable confidence in your own powers you cannot be successful or happy." Norman Vincent Peale


Featured Homes
(Click on Orange Boxes Below for Full Inventory):

Featured Property #1 - Investors Dream!! Open Floor-Plan with Over-Sized Bedrooms and a Guest House in the Prestigious Biltmore/Camelback Corridor!! 

2234 E Missouri Ave., Phoenix 85016
 
Wholesale Price = $680k
Over-Sized Lot in the Biltmore/Camelback Corridor
~3,700 sf Main Home with 4 Bedrooms, 2 Baths, plus a 600 sf Guest House!
Price = $680k  <<< Cash or Hard Money >>>ARV $1-1.5M
$10k Non-Refundable Earnest Money to secure it.

Front  
   
   
Cross-streets: 24th St. & Missouri Ave., near Biltmore Estates
 
  • 4/2/2cg Main House + 1/1 Guest House
  • ~3,700 sf Main House + 600 sf Guest House
  • Lot = 33,485 sf
  • Built 1973
  • APN: 164-46-014
  • Taxes: $6,780.60/yr. (2013)

Features/Amenities:
 
  • Location, location, location!
  • Over-Sized Lot!!
  • Biltmore/Camelback Corridor
  • Guest House with Bathroom and Kitchen
  • Open Floor-Plan with Large Bedrooms
  • Mountain Views
  • includes Enclosed Arizona Room with In-Floor Jacuzzi
  • Mature Fruit Trees
  • Landscaped
  • Well Maintained but needs Updating
  • Tons of Extra Carport Parking
  • RV Parking
  • Side Vehicle Entry
  • Semi-Circular Driveway
  • Gazebo/Ramada
  • Walking Distance to Arizona Biltmore Golf Club & Biltmore Fashion Park

Price = $680K Cash/Hard Money
$10k Non-Refundable Earnest Money to secure it.  
ARV = ~$1-1.5M
 
Repairs: Open up Kitchen, full upgrades to houses to hit ARV
Comps: House next door (2308 E Missouri) just sold Wholesale for $845k on 1/31/14 - Investor/Buyer is in Process of Remodeling Now.  This was an off-market sale-- Click Here to View The Tax Records

Access - Vacant - Call or email for appt.

Pictures - Click here for Pictures of 2234 E Missouri Ave.
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Featured Property #2 - Fix/Flip in Great Location by 7th Street & Missouri
 
5327 N 6th St., Phoenix 85012
PRICE REDUCED!!

Wholesale Price = $314k
5/2; ~2,416 sf with large yard in great area
Price = $314k <> Cash or Hard Money <>
$3k Earnest Money to secure it
Front Front

 
5327 N 6th St., Phoenix 85012 -- Click Here for a MAP!!

Cross-streets: 7th St. & Missouri Ave.
 
  • 5/2
  • 2,416 s.f (has enclosed garage & patio )
  • Lot = 16,779 s.f.
  • Built 1950
  • APN: 162-21-008
  • Taxes: $3,168.92/yr. (2013)

Features/Amenities:
 
  • Excellent Fix/Flip opportunity in great Central Corridor neighborhood, north of Camelback Rd!
  • Irrigated Lot
  • Fireplace
  • RV Gate
  • Over-Sized Lot
  • Walking Distance to Xavier & Brophy College Prep High Schools
  • Close to Restaurants, Biltmore, Indian Steele Indian Park, etc.
  • No HOA

Price = $314K Cash/Hard Money
ARV = $450-475k
Repairs needed: Typical updating needed throughout ~ $30k

Deal Structure - Traditional Sale
Access - 
Occupied - Do Not Disturb Residents - Call or email for appt.


Pictures - Click here for Pictures of 5327 N 6th St.
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Click the link below to view other homes that are available. 
      
 
-Mike Lima

Freedom Achievers, LLC
True Freedom Achievers, LLC
cell 602.538.7331
fax 602.801.2694

Mike@MikeLima.com
www.TrueFreedomAchievers.com


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-- Freedom Achievers & True Freedom Achievers are in the business of acquiring properties and wholesaling to investors or end buyers.  We acquire the properties through a variety of sources.
-- All prices are net to Seller;  Buyer pays all closing costs. Prices are based on quick closing of 7 days or less, unless otherwise indicated. 
-- Buyers are responsible for their own due diligence.
-- Properties are sold As-Is condition. 
-- Freedom Achievers & True Freedom Achievers do not own all of the properties that it offers.  Some of the properties it has an equitable interest in, and in such cases it is offering to sell such interest so that the Buyer can purchase the property.

-- Transactions are closed through a Title/Escrow Company, with Buyer receiving a title insurance policy.

 
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