Home Buying in Boynton Beach>Question Details

Ronnie, Home Buyer in Boynton Beach, FL

My husband and I are seniors citizen, we currently reside in Cooper City Fla and we need to sell our current house before we can purchase in Boynton

Asked by Ronnie, Boynton Beach, FL Mon Aug 13, 2012

our budget will allow around 140,000 max we need at lease 1500 square feet, no condos, if possible detached unit- with total hoa less than 300.00 in a desirable area, we were considering possible short sales
any advice

P.S. we plan to pay cash from the profits of our home

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Laurie Scherer’s answer
What an exciting time for you both! It is perfect that you are going about this transition with gathering as much information in advance. There is no perfect solution for you... You have several choices and the best way to know that is to have a consultation with an experience professional who can assist you in arriving at those decisions.. My team provides that service to the many buyers and sellers who we have the pleasure of working with in their transition. If you would like to utilize our service we welcome hearing from you!
0 votes Thank Flag Link Wed Aug 22, 2012
Hi Ronnie, although for some people, paying cash for a property makes sense, for others it may not. Without fully analyzing your financial situation, I can't really recommend one way or another for you. However, I will tell you this: Generally speaking, in your retirement years, you'll need as much cash as you can get your hands on...and then some! The fact is that people are living much longer these days than they used to. So if you planned to have enough cash to last you 15 or 20 years (for instance) you may possibly be blessed with a little longevity you didn't account for! When you compound that with other risks encountered in retirement (loss of your spouse and thus income, investment risks, government policy changes, and other risks) you may find that it might make more sense to leverage your cash as much as possible. One way to do this, is to use a Federally Insured Reverse Mortgage to purchase your home...you heard right! You can use a RM to purchase your home! If you'd like to find out how it works, just give me a call. I'll give you a free proposal that'll show you all the details and how much cash you could preserve by using a RM to buy your home, instead of cash!

My office is in the heart of Boynton Beach on Woolbright and Federal Highway. My phone number is:(561)364-LOAN (5626). And I welcome the opportunity to meet you in person (your place or mine!)
0 votes Thank Flag Link Tue Aug 14, 2012
Marc Jablon, Agent, Boca Raton, FL

If you're a senior looking for a home in Boynton Beach with a lower HOA, you may want to consider the 55+ communities of Bent Tree Villas or Green Tree Villas. Both offer sizeable 2/2 one-storey villas, with an HOA fee that fits well within the boundaries you have set.

Purchasing a short sale is not so easy in this market, because many people have the same idea. However, be aware that a short sale does not take a short time. It may take anywhere from 3 months to 9 months or longer to get a response from the bank, and the response may be a demand for more money than the original listing price. Also, if the short sale home in Boynton Beach has not been inhabited, there may be some fix-up required.

With that said, you may (or may not) save around 10-12% off standard market price of the Boynton Beach short sale you purchase. The trick is to find one in a community you want to be in.

However, if you have a time limit, you are best off dealing with a home that is still under the control of the owner. You will have some room to negotiate and you will have an answer to your offer within 48 hours.

Marc Jablon, RE/MAX Complete Solutions
0 votes Thank Flag Link Mon Aug 13, 2012
Hi Ronnie!
I would be pleased to help you find the perfect residence in the Boynton Beach area. I've helped many seniors relocate to this area and most, if not all, prefer to live in one of the many "active adult - - over 55" communities we have here. There are very few short sales to choose from in these communities as most of the owners paid cash, as you will be doing, for their properties. Also, oftentimes, you'll find regular sales at the same price as short sales!

In addition to the very personalized service I offer I'd also like to set you up with a free Listing Book account with the search parameters you've specified and which also has complete and up-to-date listing info. That way, you can search for properties very similar to the way I do on the MLS. You can call or email me with your contact info and I'll immediately set that up for you.


Broker Associate, GRI
Lang Realty
9858 Clint Moore Road
Boca Raton, FL 33496
0 votes Thank Flag Link Mon Aug 13, 2012
I specialize in Boynton Beach Foreclosures and Boynton Beach Short Sales. Market values are increasing slightly at this time due to low inventory. There are still opportunities to buy, a lot depends upon your other requirements - garage, gated, views, active adult, etc.

Todd Kevitch
BPO Realty LLC
640 E Ocean Ave Ste 10
Boynton Beach, FL 33435
0 votes Thank Flag Link Mon Aug 13, 2012
Make sure you set the right price on your current property in Cooper City..too high and it will sit on the market for months! If you don't have a listing agent yet, feel free to contact me for a free market anaylsis.

0 votes Thank Flag Link Mon Aug 13, 2012
Properties sell very fast in this market. I suggest choosing neighborhoods that you like but not to look at houses or set your mind on a property until you are ready.

If you are considering the Jupiter - Palm Beach Gardens area, I'd be happy to point you to neighborhoods that would work for you.

Susanna Grubb
0 votes Thank Flag Link Mon Aug 13, 2012
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