Foreclosure in Estero>Question Details

Bobby, Home Buyer in Lehigh Acres, FL

COMPANY DSD HOMES FOR $500.00 DOWN? WHO ARE BUYING THESE HOMES AND IS IT TRUE WHEN THEY SAY "THIS HOUSE?

Asked by Bobby, Lehigh Acres, FL Mon Aug 31, 2009

SOLD FOR 329,000 AND YOUR PAYING A LITTLE OVER 109? GANG WARS ... CRIME ... HOW DEVASTATED IS THE COMMUNITY BY LOSING EVERYTHING AND HAVING THEM AS NEIGHBORS? DSD FOR REAL???

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Bobby,

DSD Homes advertise a "rent to own" option that starts with a 2 year rental agreement accompanied by an option contract. With the extreme price adjustments that have occured in Lehigh Acres, it is not uncommon for a home to have sold in Lehigh for over $300k and to have it now priced at $109k. There are homes in Lehigh selling in the 50's - so to have a home sell for 109k is very plausible and not neccesarily a great deal.

I am not able to speak to the pro's or con's of DSD homes but I can tell you their website does advertise $500 down and payments as low as $799. That would seem like an approximate payment of Principal & Interest for a home priced around the $100k. No magic deals just straight numbers.

If you are wanting an option contract there are many more homes available for you to view. If a P&I payment of $799 a month appeals to you, that is also possible in many, many areas of Lee County.

I will tell you that if you decide to contact DSD homes and want a tour and possibly purchase a home, know 2 things.
The first is that DSD sales rep.'s DO NOT REPRESENT YOU. Their sales contracts say the sales people are there to represent the interests of the DSD, you are told you can seek your own representation.

The second being that if you want to have a Realtor represent you in the sale, DSD will pay the commission for you. I recommend you hiring a Realtor. I am a Realtor and perhaps a little biased

When they disclose in writing -- and have you sign to acknowledge your understanding of that disclosure --that the person assisting you with the sale is in fact NOT looking out for your best interests, but rather the builder's interests it is imperative for you to be wise and seek outside assistance. A builder's paperwork is long and written by the builder to protect the builder.

All builders have the same disclosures in their contracts, they all offer to pay the Realtor fees- this is not something that pertains only to DSD Homes. Since you asked specifically about DSD homes, I am referring to them.

In this market many people are needing a home to buy that fits in their budget. I am glad to see builders marketing to what I consider a working class price point. Having a $2000-$3000 per month house payments for just principal and interest is not financially realistic in this part of the state during this economic downturn.

I hope this was helpful for you, we are here to assist people in the home buying & selling process.

Kimberly R. Lang

The Lang Team
Keller Williams Elite Realty
24851 S Tamiami Trail Suite 1
Bonita Springs, FL 34134
When you think of Real Estate, Call The Red Realtor
239-677-8773 Kimberly
239-677-8780 David
http://www.SWFloridaHomeSearch.com
http://www.KimberlyLang.net
239-949-8339 fax
239-949-8338 office
Web Reference: http://DSDHomes.net
1 vote Thank Flag Link Mon Aug 31, 2009
YES, CAN I GET INTO A HOME, FOR A LOW COST LOAN, MY CREDIT IS NOT TO GOOD, BUT I MIGHT HAVE AN INVESTOR. I'AM A BUILDER FOR THE LAST 36 PLUS YEARS AND NEED A NWE CHANCE TO TRY TO PUT IT BACK TOGETHER THANKS ROB WILLS 349-690-1046 BIJOU_WILLS@HOTMAIL.COM , I'AM LIVING IN GOODLAND FL. PLEASE CONTACT ME, THANKS
0 votes Thank Flag Link Sun Jul 18, 2010
DSD Homes buys distressed homes, fixes them up and re-markets to those with poor credit. Their approach is to focus buyers on the monthly payments rather than the cost of the home. DSD serves a need for buyers that can't otherwise qualify for traditional financing. Probably not a good fit for a buyer that can qualify for traditional financing as their is a pricing premium associated with the DSD model.

Good luck with your search!
Web Reference: http://www.gulfreturns.com/
0 votes Thank Flag Link Tue Sep 1, 2009
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