Frugal Fridays - Cheap Homes for Less than $100,000

Frugal Fridays, yet another reason to be happy it's Friday!  Hope you like the cheesy little banner I threw together, just for you!

 $80,900 in Hemet, CA

In Riverside County alone, there are over 360 SFR homes for sale that are less than $100,000 with 3+ bedrooms and 1.5+ bathrooms.  For those of you who are not familiar with my abbreviations, "SFR" means "Single Family Residence."  When I say "3+" bedrooms, I mean "3 or more" bedrooms.  Also, "1.5" bathrooms means there is 1 full bathroom and 1 halfbath (sink + toilet).  I just wanted to be clear because some of my clients have mentioned their confusion over the terms agents use. 

$87,500 in Beaumont, CA

When I search the MLS for my clients, I like to help them out by further dividing up the categories.  In San Bernardino County, there are more than 500 SFR homes for less than $100,000.  I'm going to look at just the REO (real estate owned or bank-owned) and Standard sale properties first.  There are over 190 SB County REO homes.  If you are an investor, these are the homes you want to pay attention to.  They're easier to buy, but will usually need some TLC.

$100,000 in Redlands, CA

The majority of the homes on the market right now in the Inland Empire are shortsales.  These homes are good for people who want a home in decent condition without many repairs.  The reason these homes are usually in better shape is because the homeowners are still responsible for the upkeep of the home, they still own it afterall.

$75,000 in San Bernardino, CA

There are over 400 SFR shortsale homes in San Bernardino County that are selling for less than $100,000 with 3+ bedrooms and 1.5+ bathrooms.  That's over twice as many Shortsales as REOs!  If you're thinking about purchasing a short sale home, please be very patient!  These transactions often take 3 months or more, from making an offer to picking up your keys and moving in.

All in all, many of my clients know that it's a great time to buy a home.  My investor clients are really busy right now, searching in their favorite cities for income properties.  At these low prices, it's not hard to buy a couple properties to fix up and rent, or flip and resell for more.

 
Take a look at today's Frugal Friday finds and see if there are any homes that you'd be interested in.  Don't hesitate to call or email me if you have any questions!  I feel like I should be signing off with a catch phrase not unlike Anchorman Ron Burgundy's "You stay classy, San Diego."  Anyone have any ideas on what my parting words should be?  :)

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~Tina Jan~
DRE# 01505855
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com