I’ve been reading lately how investors have been buying properties on the County courthouse steps and trying to flip em….in this market! I’ve actually gone down and watched the process. Very interesting. The day I went down to participate I noticed there was about 40 people sitting in lawn chairs with cashier’s checks in their pockets, cell phones attached to their ears, and clipboards in their laps waiting for properties to be called off. Almost everyone was “a regular”…the auctioneer knew everyone by their first name and very few people had to qualify prior to bidding.
Locally, we’ve got 2 properties along the lake that were bought at the trustees sale which are back on the market; 40074 Lakeview Drive and 174 Lagunita.
40074 Lakeview Drive (click here for a Google map) sold for $305,000 on 12/15/2009 and is back on the market for $450,000. It’s been on the market for almost 3 months so I would assume they would reduce their price soon. 4 bedrooms, 1 3/4 bathrooms, 1216 square feet on a 6985 square foot lot. Built in 1948, this two story needs a little TLC but is one of the cheaper lakefront properties out there. The water is shallow and it’s sold “as-is”….If the seller drops to $399,000 it should sell IMO.
Second property is 174 Lagunita Lane (click here for a Google Map). This is just a stones throw away from the property above. It also sits on Mallard Lagoon and is slightly smaller than Lakeview. 3 bedrooms, 1 3/4 baths covering 1084 square feet on a 5908 square foot lot. Built in 1932, this property is the least expensive lakefront property on the market. Again, the water is shallow in this location (but slightly deeper than the property above). It was purchased for $158,400 back on 11/13/2009 (no, that’s not a misprint….$158,400!). They just put it back on the market yesterday for $425,000. I would expect this one to sell close to $400,000 as well.






















































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