It is a pleasure to work with John.  He goes the extra mile to give satisfaction.

-Bruce C.

Buying in This Market

Unless you are in a bubble, you constantly hear that the Florida Real Estate Market has been one of the nation's leaders down.  Let's face it, that presents some great opportunities for buyers!  On average, we haven't seen valuations this low since 2001.  Don't try to pick a bottom!  (read "Bottom Fishing")

The fundamentals of Real Estate apply more than ever.  There are a lot of homes on the market and a lot of homes to choose from.  The problem for buyers is that a lot of these homes are "short sales."  Quite often, they are the best priced homes in the market.  The problem is that the way banks operate, they won't even look at the seller's situation until there is an offer.  From the seller's prospective, they are looking to get out for $0 and have the bank agree to take less.  $0 is $0 regardless of a $500,000 price tag, or a $100,000 price tag.  Do you see the challenge?  The seller AND the bank have to agree with what a buyer offers.  Most times, the bank won't agree.  So, even if the house was "in inventory", is it really "for sale" or "saleable?"  Usually not.  We understand, the banks actions don't make a lot of sense but if you read up on my "Foreclosure" section, the reason's why are apparent.  Put an offer on a short sale and expect a 60-120 wait (or even more).  So if time is an issue, stay away from these.  You have a better shot at looking at the bank owned and those homes people have owned for a long time or have little or no mortgage.   As the foreclosures work themselves through the system, there will be more "bank owned" properties and any backend credits the lenders get ONLY in a foreclosure action will have been paid.  

Price and terms are the two biggest factors in selling.  These bank and seller owned  properties, because they truly can be sold, are sometimes worth a little more but still, NEGOTIATE.  Know your market and know who you are dealing with.  Most times, that is what an agent who is working for you will do.