Although REO fever has not over-whelmed Marin County to the same extent it has over-whelmed other parts of the Bay Area, there are certainly some REO deals to be had. This 2-bedroom condo in San Rafael is listed for $150,000. Its previous owner paid $324,000 a few years ago (2/12/2004), and Zillow.com now estimates its value at $295,000.This property offers a good opportunity for a first-time buyer in the Bay Area. Including the mortgage payment, property taxes, $293 monthly HOA fee, and tax benefits, the cost of living in this condo would be comparable to renting a similar apartment in the neighborhood. As population growth in the Bay Area continues, property values will continue to rise, making this REO a good potential long-term financial investment.
The basics...
Address: 3665 Kerner Boulevard Unit A, San Rafael, CA 94901
Current Listing Price: $150,000
PREVIOUS Sale Price: $324,000 (2/12/2004)
Size: 2 Bedrooms, 2 Bathrooms; 910 square feet
http://www.realtor.com/realestate/san+rafael-ca-94901-1099592343/
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