January 04, 2014

Jump Start 2014!! 1903 American Bungalow ~ Just $50,000!!!

306 D AVENUE Salisbury, NC 28144 MLS #: R55877A List Price: $50,000 

On a cute, quiet little side street off S.  Main Street in Salisbury NC is a charming older neighborhood filled with sweet houses built in the early 1900’s.  306 West D Avenue is one of the gems in this neighborhood!  

306 D Avenue holds all the charm of the circa 1903 American Bungalow ~ all brick with large, spacious rooms, hardwood floors, and plenty of windows to stream natural light. 

Beautiful French doors separate the living room, with its brick fireplace surround and mantle flanked with wall sconces, and the dining room with its brass chandelier. We love the glass (working!) transoms over each doorway, including the French doors! What a nice touch! And cedar lined closets in the two cozy bedrooms keep moths at bay!

You’ll love the kitchen with its avocado tilework, built-in hutch, and huge storage pantry! 

The wood paneled laundry/mud room is an extra nice feature.  A staircase from this doorway leads to the great back yard that has plenty of room for gardens, pets, and children to play!

You’ll love spending hot summer evenings on the spacious front porch with its deep gabled overhang and attractive brickwork. The porch is perfectly suited for the plant enthusiast to position container gardens and hanging ferns and tropical greenery.

A single car carport not only keeps you dry bringing in the groceries, but is an attractive element of the overall bungalow design. And the walk-out partial basement provides storage for lawnmowers and weed-whackers! 

306 D Avenue neighborhood is nicely situated between downtown Salisbury where plenty of shops, restaurants, and art galleries can be found, and the Jake Alexander commercial area where you’ll find grocery stores, banks, tire shops and so much more…yet the D Avenue neighborhood is a peaceful little pocket in between these two worlds.



306 D Avenue is being sold as a short-sale, and is being sold AS~IS. The roof is fairly new and in great condition, and while this cute bungalow is basically move-in ready, it may need some updating. 

Many agents price short sale listings below comparable sales, yet they are priced in line with pending sales. Why? Because short sales take anywhere from 2 to 4 months, on average, to close, and pending sales will become the comparable sales at closing. 

Some price short sales ridiculously low, so low that the sellers' bank will likely never accept them. These types of listings receive multiple offers. However, all is not lost! To get your offer accepted, you will need to price it near market value. If you are not prepared to pay above a superficial price on a low-ball short-sale listing, then pass. 

306 D Avenue is priced at just $50,000! Whether it is under market value or over market value ~ lucky for you it, doesn't matter too much either way. Because 306 D Avenue is priced under market value, you will want to jump on this short sale before somebody else spots it. If you're lucky, the price the seller wants to sell for is the price the bank will take. That is the key! 

Homes priced under market value will receive multiple offers. An agent is not required to disclose the terms of those offers, but you will want to know how many offers you are up against. Here's how it generally works: 

• When a short sale home first comes on the market, the first offer will most likely be below list price. 
• The second, at list price. 
• The third offer will be slightly higher, maybe by a $1,000 or $2,000. 
• The fourth offer will be significantly more. 

You will want to make an offer that will beat the competition yet still be below market, or you should not waste your time. Although REALTORS are required by the REALTOR Code of Ethics to treat everybody fairly, not every agent is a REALTOR®. This means the short sale listing agent may decide to submit only one offer to the seller and withhold other offers. Realtors consider withholding other offers a violation of the fiduciary relationship formed between the listing agent and the seller. The seller is entitled to receive the highest and best price, including all offers. Realize that even if your offer is submitted to the bank, as time marches by while waiting for short sale approval, another buyer could outbid you. Let the seller know if you are willing to raise your price if necessary. 

So ~ ~ ~ is 2014 the year you make those decisions to invest in rental property? Buy that first home? Move the in-laws closer? If so . . . 306 D Avenue is the place you’ve been waiting for ~ move in ready, in a quiet neighborhood…and PRICED TO SELL! Greg Rapp is a licensed Realtor who adheres to the REALTOR Code of Ethics and will best represent both you, the buyer, and the seller in all types of transactions. His track record speaks for itself. (Scroll to the bottom of this webpage to see testimonials from Greg's clients!)

Call Greg Rapp at 704.213.6846 to start the ball rolling on 306 West D Avenue! 2014 may be the first year your resolutions are met right off the starting block!

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