Description

I realize that searching the MLS on public sites is difficult, since it is impossible to search by fields that actually matter to investors, such as: $/sf, ‘fixers’, ‘cosmetic upgrades needed’, etc. Here is a list of fixers that I found in MLS today. I like to search in areas where I am least likely to get shot – so this leaves out: Oakland, Richmond, Antioch, Pittsburg, etc.

Address, City, $/SqFt List, SqFt, BR, Bth, YrBlt, Lot, SqFt

- 2454 TANAGER CIR, CONCORD, 278, $504900, 1816, 4, 2, 1960, 6000

- 2495 MAPLE AVE, CONCORD, 280, $665000, 2371, 4, 4, 1942, 7150

- 1812 OAKMEAD DR, CONCORD, 318, $389000, 1224, 3, 2, 1958, 6000

- 6893 PENN DR, DUBLIN, 321, $600000, 1867, 5, 2, 1965, 5922

- 3630 GRANZOTTO DR, CONCORD, 327, $405000, 1239, 3, 1, 1950, 8000

- 1819 OAKMEAD DR, CONCORD, 335, $389000, 1162, 3, 2, 1956, 6000

- 1581 MEADOW LN, CONCORD, 337, $425000, 1263, 3, 1, 1949, 14000

- 4973 MYRTLE DR, CONCORD, 357, $439499, 1230, 3, 2, 1950, 11200

- 1554 MANCHESTER CT, CONCORD, 395, $389900, 988, 2, 1, 1954, 7920

I generally start filtering properties by the $/sf for a given area. The relationship between price and sq ft is not a linear relationship (it is more of a natural log relationship for you math geeks out there). So, an accurate analysis of value can only occur for a tight range of square footages within a given city. For example, $300/sqft might be a steal for a 1000 sqft house, but may be market value for a 3500 sqft home in the same area. It is all about the diminishing marginal utility of the last sq ft and its effect on price. Evenutally, you should be able to look at a given combination of price/sqft & sqft and know if the property is a reasonably good deal or not.

- Josh www.BayAreaREI.com