Similar to the other one. REOs all.
First one is a cookie cutter 3/2. Asking price was 119 which I thought was a little high. I had a little trouble getting a solid handle on the value but it looked to be in the 160-170 range.
Good rental in a solid neighborhood. Bank was offring 4500 in concessions (2000 repairs and 2600 closing costs.) I offered 90.
Heard nothing for a week (past the offer deadline) and thought it was dead (ie bank is an idiot). Emailed my realtor to confirm that the deadline was past.
She agreed that it was and we could cancel based on that but told me that the other side (realtor? bank?) did not receive the offer (or lost it). She said she resubmitted and suggested we see what happens till Mon/Tues.
It's really a freroll for me since even if they sign my offer as is, if I have 2nd thoughts about the property, I can cancel just based on the deadline.
The other property is really more attactive to me. Value ~200 (solid). Was last sold for 216 in 06 and bank it took back for 175. List price was 129.9. I offered 115.
It would be the most upscale rental I have ever owned. Planned community. Community pool. VERY nice house. And would still be positive cash flow.
1900 square feet which is big for my rentals (1200-1500 is my bread n butter.)
If you aren't making offers in this environment... WHY NOT??!!!