Home Buying in 33954>Question Details

Philly Buyer, Home Buyer in Port Charlotte, FL

Want to buy foreclosure in Port Charlotte - where are the best deals? Neighborhoods? Single family or Condo?

Asked by Philly Buyer, Port Charlotte, FL Mon Jun 22, 2009

I'm looking to buy foreclosure in the area above Peachland Blvd in Port Charlotte (Zip 33954) as a second home. Ideally, we would like to snatch up a foreclosure for under $70K with 3bed/2bath. Most important is that we buy on nice street surrounded by attractive homes that are pricier than mine. Any other suggestions on where to look?

Also, what about getting the most recent/updated foreclosure listings? It seems that the best deals are scooped up as soon as they hit the MLS. How can we compete from long distance - we're in Pennsylvania? Is there any way to get a sense of what's out there before it hits the MLS? Look forward to your replies - thanks!

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BEST ANSWER
Hello!

You're smart to want to get in on these foreclosures, and you're even smarter for knowing that the best deals are bought within days of going up on the MLS.

As far as "where to look", Port Charlotte, North Port and Punta Gorda are the foreclosure sweet spots for sure. We work with banks to list foreclosure properties, so my team is well versed in the foreclosure market down here. There is a lot to be aware of but for the most part the buyer comes out with a great home for a wonderful price.

As far as getting the most recent foreclosure listings, what we typically do is have the MLS set up to send out the list daily to your email. That can be useful because we can set it up to only send you properties that match what you're looking for - (we can set parameters based on square footage, age of the home, etc.). This makes finding the good deals easy because they come right to your email every day.

As far as being able to jump on the good ones when they come out on MLS, even though you're in Pennsylvania, a member of our team could go out to the house that you're interested in, take TONS of photos for you, email them to you and you could make an offer based on our photos all within 24 hours probably. This is done a lot and, especially if it is to be an investment home, you could buy the property sight-unseen if necessary. Or, as we're submitting the offer you could make plans to come down and see it for yourself.

The foreclosure market is unlike the regular real estate market and you do need an agent who is:
1. VERY familiar with foreclosures and the foreclosure process
2. Familiar with contracts and all the necessary foreclosure addendums
3. Experienced with foreclosures in THIS market; we've lived and worked in North Port/Port Charlotte for over 20 years.

If there's anything we can do to help you out, let us know! Good luck on finding your dream investment property and have a great day.

Thanks,
Shannon Moore
941-276-8142
0 votes Thank Flag Link Tue Jun 23, 2009
Buyer,

You hit "the nail on the head." The word is out that this location (Porth Charlotte, North Port, Punta Gorda) is a hot bed for real estate opportunity and it a very nice location to settle into. Since many buyers are focusing on this location "Foreclosures" are being snapped up as soon as the hit the market.

Serious buyers in these locations need to be involved with serious agents that know the inventory as well as the "key players" and therefore have an idea when these properties will be coming onto the market. To be ready, serious buyers need to be pre-approved, with their deposit in hand, and ready to go to contract.

There is not time for hesitation and it's critical to either be right here of have an agent the knows your exact criteria that you trust. Without the benefit of this arrangement you will be stuck watching great deald go "pending" on day one or two of the listing.

Our recommendation is that if you are serious about buying in this area get yourself financially ready and identify an agent that has the above described ability.

Great post.......good luck

The Eckler Team

Michael Saunders & Company
billeckler@michaelsaunders.com
941-408-5363
1 vote Thank Flag Link Tue Jun 23, 2009
Hi Bill,

Thanks for your answer. Just so you know, I've been already pre-approved for a mortgage thru SunTrust (working with office on West Marion Ave in Punta Gorda, FL) if I need to finance the deal. But you're right, I do need a local foreclosure "expert" you could help me stay one step ahead of the game. I just wasn't sure how to find that the right person for me - considering that I'm looking to purchase a property for under $75K which offers only a very small commission for that "expert". So if you're willing to partner with me, I'm ready to go!!
0 votes Thank Flag Link Tue Jun 23, 2009
Hello,

My office lists a lot of bank foreclosures and so I am made aware of them just prior to them being listed. Of course other companies also list a lot of foreclosures but I do check the market everyday looking at the new listings, back on the markets and price reductions and I would be happy to help you find the bargain that you seek. If you would like me to be on the lookout for that good buy for you, I will need your email address so that I can email you a listing as soon as it appears on the MLS. I will look forward to hearing from you.

Anne Kyer
Coldwell Banker Sunstar Realty
941-255-7286

Anne.Kyer@ColdwellBankerFlorida.com
0 votes Thank Flag Link Mon Jun 22, 2009
Through my website I offer clients an automated program that will alert you via e-mail every time a home that meets your criteria either hits the market or is reduced in price. With this daily automated program, you know immediately and can therefore be competitive in this quickly moving market. E-mail me and I will get you started asap.
0 votes Thank Flag Link Mon Jun 22, 2009
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