Weds, Dec 17th - The Holiday Season is usually the slowest time of the year in real estate. This year however, the bargain hunters are out, and it's our busiest December since 2005. We've seen some amazing deals the past few weeks, including a new construction fourplex with over $2800/mo in cash flow go for $194,000, a completely renovated home a few miles from downtown for $149,900, and cash-flow heavy duplexes in the $200k range simply because there are fewer buyers competing for deals. Some sellers cannot wait to sell - if you're an investor looking for a screaming deal, wouldn't you want to be looking when that seller's property went on the market? We launched our new website this past week, www.castlehillinvestments.com, and encourage you to visit for up-to-date market updates, blog analysis, the 2009 Central Texas Investment Guide, and listings, including Top 10 Foreclosure, "Instant Equity" Motivated Seller listings, as well as our market-leading inventory of duplexes and fourplexes throughout Central Texas. We also caught two Realtors copying and pasting our update into a blast email of their own, proving once again, imitation is the sincerest form of flattery. Next Top 10 Newsletter will be out January 7th, 2009 - in the meantime, Happy Holidays! -Robert Grunnah, Dec 17th, '08   Note: We have two email newsletter lists - Top 10 Foreclosure (sent weekly), and a monthly market update. This is the last Top 10 Foreclosure update that will be sent to both lists. To find out which list(s) you're on and make changes, please click the link at the bottom of this email entitled "Update Profile/Email Address". Top 10 Foreclosure List Week of 12/17/08 BELOW $100,000 14402 Pebble Run Path, Manor, TX 78653 Near intersection of 290 and 45 toll way for quick access to north/south employers. School District: Manor ISD Asking Price: $95,000, 1012 sq ft. 3/2, built in 2006 Lease: $900/month, Cap Rate: 8% Monthly Positive Cash Flow: $148 Pro Forma Value in 5 yrs: $133,034; 5 yr ROI: 49% 9% under recent sales comps, 6% under tax appraisal 12929 White House St, Manor, TX 78653 Easy access to Shadow Glen Golf Club, toll ways and major technology employers. School District: Manor ISD Asking Price: $99,100, 1422 sq ft. 3/2/1, built in 2005 Lease: $1000/month, Cap Rate: 8% Monthly Positive Cash Flow: $197 Pro Forma Value in 5 yrs: $148,820; 5 yr ROI: 62% 15% under recent sales comps, 19% under tax appraisal 12513 Mexicana Cv, Del Valle, TX 78617 Near Austin Bergstrom International Airport and new north/south toll road for easy access anywhere School District: Del Valle ISD Asking Price: $99,750, 1659 sq ft. 3/2/1, built in 2004 Lease: $1050/month, Cap Rate: 9% Monthly Positive Cash Flow: $241 Pro Forma Value in 5 yrs: $158,801; 5 yr ROI: 74% 20% under recent sales comps, 24% under tax appraisal LOW $100,000's 12801 Wedding Dr, Manor, TX 78653 Easy access to Shadow Glen Golf Club, toll ways and major technology employers. School District: Manor ISD Asking Price: $103,000, 1953 sq ft. 4/2, built in 2006 Lease: $1050/month, Cap Rate: 8% Monthly Positive Cash Flow: $220 Pro Forma Value in 5 yrs: $152,047; 5 yr ROI: 60% 14% under recent sales comps, 27% under tax appraisal 4414 Magin Meadow Dr, Austin, TX 78744 Great location one block from Kendra Page Park. Close in location provides easy access to central Austin. School District: Austin ISD Asking Price: $104,900, 1426 sq ft, 4/2/1, built in 2005 Lease: $1250/month, Cap Rate: 10% Monthly Positive Cash Flow: $364 Pro Forma Value in 5 yrs: $134,678; 5 yr ROI: 49% 1% under recent sales comps, 4% under tax appraisal 7425 Elk Pass Dr, Austin, TX 78744 Located in desirable Colorado Crossing - close to jobs, highways and airport without lots of noise. School District: Del Valle ISD Asking Price: $109,900, 1324 sq ft. 3/2, built in 2006 Lease: $1060/month, Cap Rate: 8% Monthly Positive Cash Flow: $149 Pro Forma Value in 5 yrs: $152,082; 5 yr ROI: 47% 8% under recent sales comps, 9% under tax appraisal 504 HARVEST CV, Cedar Park, TX 78613 Good schools and easy access to new light rail station and 183 Tollway. School District: Leander ISD Asking Price: $111,900, 1410 sq ft, 3/2/1, built in 1993 Lease: $1000/month, Cap Rate: 8% Monthly Positive Cash Flow: $162 Pro Forma Value in 5 yrs: $174,557; 5 yr ROI: 65% 18% under recent sales comps, 11% under tax appraisal 6104 Perlita Dr, Austin, TX 78724 Near parks, good schools and north technology employers. School District: Manor ISD Asking Price: $199,500, 1352 sq ft. 3/2/1, built in 2004 Lease: $1195/month, Cap Rate: 8% Monthly Positive Cash Flow: $208 Pro Forma Value in 5 yrs: $184,632; 5 yr ROI: 65% 17% under recent sales comps, 4% under tax appraisal 6420 Tara Dr, Austin, TX 78747 Excellent south central neighborhood with community pool, hike and bike trails and good schools. School District: Austin ISD Asking Price: $119,900, 2111 sq ft. 3/2/1, built in 2002 Lease: $1250/month, Cap Rate: 9% Monthly Positive Cash Flow: $278 Pro Forma Value in 5 yrs: $169,737; 5 yr ROI: 55% 10% under recent sales comps, 17% under tax appraisal $120,000's - $150,000's 5644 Brougham WAY, Manor, TX 78653 Neighborhood built in 2006 - 2007 so great opportunity to get new construction in great location near Hwy 130. School District: Manor ISD Asking Price: $139,900, 2088 sq ft. 4/3, built in 2007 Lease: $1300/month, Cap Rate: 8% Monthly Positive Cash Flow: $207 Pro Forma Value in 5 yrs: $186,541; 5 yr ROI: 43% 5% under recent sales comps, 20% under tax appraisal *ROI formula: ((Value in 5 yrs+ 5 yr net cash flow) - Purchase Price) / Purchase Price   *Cash flow is assuming 30% monthly expenses Robert Grunnah 1400 S Congress Ave Castle Hill Investments, LLC 512-444-2299

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