• Real Estate Deal of the Day March 14, 2019

    Real Estate Deal of the Day March 14, 2019

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    deal of the day

    MLS Deal Property

    3707 Sunstone Drive, Houston, Tx 77068

    List Price: $ 122,500
    Bed/Bath/Pool/Stories: 4/2.1/N/2

    deal of the day data

    MLS Deal Finder Estimated Value:                            $214,933
    MLS Deal Finder Estimated Discount:                      $92,433
    MLS Deal Finder Estimated Discount%:                 43.01

    deal of the day data

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    Real Estate Deal of the Day March 14, 2019

    [Video Transcription]

    This is Real Estate IQ’s Deal of the Day. And today we have found a fabulous deal for you, in the Houston market.

    Hello everyone. Today's Houston Deal of the Day is 3707 Sunstone Drive, Houston 77068 and this is in the spring area. And the agent's remarks say it's a pretty home surrounded by mature shade trees, cul-de-sac, long driveway to detached garage. Luxurious entry welcomes your guests into this charming home. An elegant dining room is to your left grand den with fireplace that has a delightful hearth for sitting by the fire and roasting hot dogs.
    You could make built-ins in the den for easy storage, den flows into the fun kitchen. You can fill it with mega counter space. The master suite is downstairs.
    Three bedrooms and a game room upstairs. This home did experience flooding, but you can start with a clean slate and make it all yours. Now, these comps all say they did not flood. This one was reduced it says it has great bones. So, usually, that means there are some other issues with it or so or it needs updating.
    And you can look at the price per square foot. This one is 44. This is 66 and these are 76, 81 and 87 respectively and have all sold in the last six months. So let's check out those. The other thing to notice is this is a foreclosure. So it went to the auction, nobody bought it, went back to the bank. So let's check out the map. So here's where you can tell that's the spring area, northwest of Houston. And then if we, whoops, the wrong direction, zoom in a little bit here, we can tell by this map why perhaps this one flooded, but the neighbors didn't. It is right here, a little closer to this bayou, right there. But all the comps are really close and definitely in the same neighborhood. We can take our little Google guy here and drop him on the house.
    This is one of the comps that we landed on, can tell by this little red dot. And this one is a cul-de-sac. Just like the one that our house is on, I think, on a street over from it. But you can do that and check out the neighborhood. See what everything looks like. Looks like the properties are pretty well taken care of there. Let's go to photos. And there's the outside. There's the entry. And here's where you can see that the sheetrock has been taken out because of the flooding. Nice backyard there. Then we can look at the comps. So this is the one that said has great bones. Looks like the master bedroom. Here's the kitchen.
    It's kind of hard to tell. Looks like that might be some sort of solid surface or it could be laminates. Hard to tell exactly, but the home is nice but not really updated. So that could take the ARV up a little bit and then we can look at these other homes, that sold for more. There's the kitchen for that one. Wow. Looks like a big master bath. And then this one. Needs some wallpaper, looks like granite, and kitchen. And the last one, which said made for updating and that room definitely is made for entertaining. Now this one does have a pool as well.
    So the other thing to note about this property is that there is only one active listing. So I went up here and clicked on the active tab. And the only active listing is listed at 185. It was originally a 194 it's been on the market for 57 days. So that is something you would want to consider when you do your due diligence and happy investing. Thank you for listening.
    If you want to learn how to analyze deals just like us. Make sure you check out this webinar on how to run comps. The link is below. We'll also introduce to you this new tool called Fast CMA which is a high-end professional comps tool that allows you to pull comps and analyze comps just like the experts. Make sure you check it out.

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