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2004 Was A Dream Market
| | Monday, December 27, 2004 @ 10:48 AM EST
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Contributed by: John Michael
John Michael Properties
Read more archived articles about Economy - Good
Last December, real-estate experts predicted that mortgage rates would rise, pushing the number of home sales down in 2004. If their prediction had proved true, it would have meant that stories like the one real-estate executive Dan Givens tells would be tales of the past.
By Elizabeth Rhodes
Seattle Times staff reporter
Givens' tale concerned the sale of a neglected, nearly century-old North Seattle house. Its foundation sagged; its siding was bad. And that was just the start of its problems. Anyone brave enough to buy this money pit was probably looking at spending "a couple of hundred thousand dollars" to bring it up to shape, said Givens, a Windermere manager.
As the home went on the market, agents speculated that it might fetch about $400,000. Nineteen offers later, the sad old house sold for $509,000.
See story link at http://seattletimes.nwsource.com/html/homerealestate/2002130089_homeyear26.html
Note: John Michael is the author of many guides that can help you become more successful as an investor. See http://www.thecreativeinvestor.com/ChanPart-JohnMichael.html
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