September 11th, 2006

Burdett Way, Sacramento CA

Close up by the garage conversion side 6842 Burdett Way, Sacramento, CA 95823

4 bed, 2 bath, 0 car; 1,408sf; 10,454sf lot; built 1959

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[Zillow Comps]

Description: Newly remodeled kitchen. New paint inside and out. Carpet is good but has some minor stains. Landscaping is starting to die. Fourth bedroom is a garage conversion. Large lot. Fenced front yard. Carport with a separate gate. Close to the mall, freeway and everything else. Good first-time buyer property in decent area. Sold as-is. See photos for more.

Existing Financing

Balance: $294,890.91 @ 8.875%.
Payments: $2,551.76/mo (no payments since August 2006)
Taxes and Insurance: included with payment
Loan type: ARM 2/28. Fixed rate interest-only payments till Feb 1st 2008 (2yrs), then converts to adjustable rate with principal payment. Means the payment will go up some depending on future interest rates.


25-Sep-06: Working with on investor on a short-sale.

17-Oct-06: Bank approved a short sale at 248,000. If you want the house at this price, just let me know and the investor I’m working with can assign you the contract.

27-Nov-06: Investor wasn’t able to buy the house or assign the contract. So now the house is available to anyone to take over payments or buy with new financing at the short-sale price of 248,000. Contact me if you want to buy.

29-Dec-06: I put out For Sale By Owner No Banks Needed signs on the property to attract-credit challenged buyers. I get several calls.

26-Jan-07: The previous strategy doesn’t pan out so I hire a short-sale specializing real estate agent to help me do a short sale on the property.

03-Mar-07: Foreclosed

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