Foreclosure Scholarship

Foreclosure Scholarship Essay

The two houses shown both have the ability to produce a promising investment and profit. Although, in order to achieve the most profit, I would choose the house that needs the most work done, Property A, located in Chapel Hill, NC. Just looking at the description, two major things drew me in, “needs some TLC,” and “Top 10 ‘Best Places to Live.’” Both of these things allow for desirable results and a large profit if the property can be flipped and sold efficiently. Choosing the flip strategy will ensure profit gain, rather than holding onto the property for a couple years and hoping the market will be up and the value of the house will increase. This strategy also allows for a large profit over a very small period of time unlike a long-term hold.

After doing a little more research on the locations of the two houses, the information reaffirms that I am choosing the right property. The average price per square foot in Chapel Hill is $234, while in Stockton it’s $97. Since the houses are similar in size and the same price, the Chapel Hill house is a much better deal. Also the price per square foot increased by 3.4% in one year, while Stockton has increased 26%, according to Trulia.com1. These statistics tell me that Stockton has increased so much that it will probably begin to plateau rather than continuing to go up substantially like it has this past year. The Chapel Hill property has a better chance of increasing, even if it is just a little, since it has a small percentage that will likely not deviate much. The Chapel Hill area has experienced a gradual increase in price per square foot over the years as opposed to the exponential growth of the Stockton area. Chapel Hill is therefore a more relia...

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...w in. This area has good public schools and should attract many young families. Even though this is the targeted buyer, the renovations and finishing’s on the house are neutral enough to where they can appeal to all buyers. Overall it is a very good profit for a short amount of time. The neutral finishing’s will also allow for the buyer to make changes and really make the place their own. This house is worth the time and money put into it because it will yield a maximum profit.

Works Cited:

"Chapel Hill Market Trends." Trulia. N.p., 06 Nov. 2013. Web. 19 Nov. 2013. .

"Stockton Market Trends." Trulia. N.p., 06 Nov. 2013. Web. 19 Nov. 2013. .

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