Home Buying in Tallahassee>Question Details

Jemica Gumbs, Home Buyer in Tallahassee, FL

Good Afternoon, I'm in the process of relocating and I am interested in purchasing MLS/Source ID: 240727 and would like to know more.

Asked by Jemica Gumbs, Tallahassee, FL Wed Jan 29, 2014

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Hi Jemica,

My name is Bobby Nahoom, and I am a REALTOR with Amac Real Estate Company in Tallahassee. I have sold more properties in this community than any other REALTOR in Tallahassee, and I can tell you in all honesty that buying a property in this community is very risky. This community's financial health is very poor. This is a condominium association, and there are very high monthly condominium association dues. Many owners are not paying these, and as a result the condo association does not have adequate reserves or enough money to keep the community properly maintained. As a result of this, this association has levied special assessments on it's owners over the last few years ranging from $400 to $1000 each time which is on top of the monthly condo association dues which are nearly $400 a month for this unit.

There are some very good deals on townhouses nearby that are close to this price range which are not a part of an association. A Condominium is a form of ownership that differs in the type of ownership compared to when you buy a house or townhouse. Long term, buying a townhouse or house would probably be a safer bet and a better long term investment, and you would not have the high monthly condominium association dues like with this property.

Please feel free to contact me, and I would be glad to answer any questions you have and help you identity some other properties that you may like and are less risky.

Sincerely,

Bobby Nahoom
Amac Real Estate Company
850 567-0037
nahoom1171@yahoo.com
http://www.bobbynahoom.com
0 votes Thank Flag Link Wed Jan 29, 2014
I'll weigh in here too. I'm not a realtor but used to own two units in this community. Everything Bobby said above is correct, BUT, I'll add that roughly half of the units in there were owned by the developer that did the condo conversion and that's who went bankrupt . . . as a result the majority of the units that weren't paying the Condo dues were owned by that developer (hence the special assessments that he mentioned). On a bright note, the foreclosure has been completed and a new owner came in and purchased about 80 or so of those units (they bought my two units too). I actually think that with the vast majority of the units now paying dues that this community is poised to make a nice a rebound. Best of luck to you!
Flag Thu Jan 30, 2014
That property is in a converted apartment complex & looks like a great bargain, but the homeowner's association dues there are $383 a month (mandatory)! The MLS comments also indicate that it may have mold and is being sold As-Is. Give me a call and I'll let you know how to get much more house for the same amount of money, in my opinion there are some better options available for you. From a re-sale standpoint, that entire complex has also seen a lot of distressed sales over the past several years which have negatively impacted prices. (850) 345-1933.
0 votes Thank Flag Link Wed Jan 29, 2014
Hello Jemica;

The property you are looking at is a Fannie Mae property and has great financing options.
Call me at 850-745-4253 at any time or email me at grmnalex@gmail.com

I will be more than happy to answer any other questions you might have.

Enjoy your evening,

Alex
0 votes Thank Flag Link Wed Jan 29, 2014
Good afternoon, Jemica. What information can I get for you?
0 votes Thank Flag Link Wed Jan 29, 2014
If you send you email address I can send you the MLS listing this is a bank owned property. It is a Condo.
Email me at miriam@armorrealty.com. I will be happy to help you.

Miriam Nicklaus
Armor Realty.
0 votes Thank Flag Link Wed Jan 29, 2014
Hi Jemica

Which MLS are you referring to? Your best bet is to locate a buyers agent in your area or to go directly to the listing agent to get more details, schedule a viewing & hopefully make an offer if you like the home after seeing it. They will also be able to answer important questions such as what the tax rate is, whether the home has an HOA, what type of sale the home is (Short Sale, Traditional, Probate or REO), etc. If this was helpful to you, please click BEST ANSWER & enjoy your day! Tom Bashe l Broker l SCA Real Estate l 951.547.0705 l Tom@SCARealEstate.com
0 votes Thank Flag Link Wed Jan 29, 2014
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