– 4204 Juniper Hill was featured in the Flip ‘Dis House post. It sold in March of $600,000, well above my $515,000 prediction. No news if it will be featured on the TV show or not. They probably came out OK, but won’t be retiring on the proceeds.
– Instagram Hits the MLS – The listing for 596 California Street has the first Instagram altered photos I’ve seem in a listing. Very well done, and a really nice property.
– UGGH – As nice as the photos were for 596 California, take a look at 1015 Taos Ranch. For a million smackers, do you think the realtor might hire a pro?
– Best Teddy Bears on Parade listing photo this week had to be 370 Sierra Lane in Verdi. Note that it is Verdi CA, not Verdi NV. Huge tax differential.
– NRES – For my newer readers, NRES is a group that buys properties at Trustee’s Sales, paints the interiors Navajo White and adds new sod to the front yard, then flips them. Search “NRES” on this site to see past articles. I haven’t done a detailed report on them for a year and a half, and I wondered how their business model has evolved. HERE are their completed transactions 2013 year to date. It is in Excel format, so play around with the data – are their margins optimized in certain price bands?
My thoughts: Their number of transactions has decreased by about a half. There simply isn’t enough TD properties to buy, even though NRES has that market pretty much wrapped up. They are also buying REOs and short sales, but that still can’t keep up the pace with the number of properties they were churning a year ago. But their average gross profit per property is actually increasing – up to 42% currently from their 38% historic average.
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