Lake Charles investment properties must be priced right to sell. There are currently 16 two bedroom/1 bath homes for sale in Lake Charles priced under $50,000. Most of these homes average 1100 sq. ft and are cottage style homes on piers.
Lake Charles Home buyers searching in this price point are either investors or first time home buyers. Condition is also usually a factor in getting the home Sold quickly
1105 E. School was an investor’s property originally listed in September 2010 for $49,500. October saw a price drop to $45,000 and in January 1105 E School dropped in price to $40,000.
During the time this property was listed by me, I made periodic checks of the home on behalf of the seller especially when the temperature dipped to freezing! I managed the thermostat as needed and monitored the condition of the property with needed lawn care, etc.
In the meantime, the Seller decided to tackle major improvements and repairs that would have been discovered in a home inspection. A new porch was built, floors re-leveled, bathroom remodeled and rotten wood replaced with a termite treatment.
March 1st 1105 E School went under contract for $40,000 and a happy conclusion ended with closing on 3/29/11
Reflecting on the current market of homes priced under $50,000 I have this to share.
- Deals are ready to be made
- The home needs to be priced to sell with condition appealing to buyers.
- Sellers need to be attentive to price reduction as the market changes
- Sellers need to be willing to give concessions for repairs.
Looking for an investment property or a first home? Contact Marilyn Boudreaux 337-499-9592