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Solveig’s First Time Buying & Selling - Over $50,000 of growth in equity after only 2 years (way back in 2013)
Posted by Solveig Schroerlucke onI bought my first home in 2013 when I moved back to Madison from the East Coast. I had enough saved for a down payment but I could only spend about $150,000 to $175,000. I was able to find a foreclosed condo on the MLS that was only five blocks from the Capitol. There was only one photo on the MLS which was a very dark blurry photo of the bathroom taken with a phone camera, so as you’d expect, there weren’t many showings. It wasn’t as competitive a market as it is now, but at that price point condos downtown were still moving pretty quickly. I was able to negotiate a purchase price of $157,000. Because it was a foreclosure, I had to buy all new appliances - washer, dryer, refrigerator, oven, and microwave. I replaced the carpet in the bedroom…
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