Arn Cenedella

Foreclosure Opportunities in East Palo Alto and Menlo Park

One of the most active and strongest markets on the San Francisco Peninsula can be found in the Belle Haven area of Menlo Park and in East Palo Alto.

Most of the listings in these areas are either short sales or foreclosures.

Run-down fixer uppers can be found sometimes below $200,000 and generally between $200,00 and $250,000.

These homes when repaired can rent for $1800 per month or perhaps sold for $300,00 or more.

Buyers need a fair amount of cash to compete in this market but good properties can be found.

I have helped numerous buyers this year in East Palo Alto and Belle Haven area of east Menlo Park purchase REO foreclosure homes and attractive prices.

One client used funds from his IRA to pay cash for a rehabbed home that generates about a 6% cash return on purchase price.

Others clients have purchased REO fixers, rehabbed them, and sold at a profit.

One of my clients, a former tenant, was able to buy their first home in East Palo Alto with FHA financing – amybe $10,000 total cash investment – will receive $8000 first-time buyer credit – and have total fixed ownership monthly payments of like $1700. They are quite happy.

Whether buy, fix and flip or buy and then rent or buy to live in, all present good options in today’s real estate market.

Please contact me at 650 566-5329 or acenedella@cbnorcal.com to learn more.

I am happy to discuss your options with you – no cost – no obligation.

This entry was posted on Thursday, December 3rd, 2009 at 7:33 pm and is filed under East Palo Alto real estate, First-time home buyers, Foreclosures, Investment Real Estate, Menlo Park Real Estate, Short Sales. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply

Name (required)

Email (will not be published) (required)

Website