It's not the agent that's going to help you swim in the investor's pool. You first need to learn the strokes to be able to dive in.
Johnson&Johnson Team Realty
Please do not just put your focus on short sales and especially foreclosures as they can be your worst deal in many cases. Over the past months many banks, and their asset mangers, are pricing their properties above market value, in many cases well over what the most recent sales are. They are also countering short sale offers at high prices. Not always but you need to be fully educated on what a property is worth. I see way too many people buying foreclosures thinking just because they are distressed properties they are getting a deal. I can show you instance after instance where obeyers of these properties are overpaying and getting a property that has not been properly maintained for what could be many years.
We still see some REO's listed at below market prices but they typically have multiple offers and prices get bid up higher than what a comparable traditional sale would go for. You may have better odds with a short sale but waiting times can be lengthy and the outcome may never come. If you are financing you are playing Russian Roulette with interest rate which have become back down and are very favorable but may not stay that way.
Many of today's best opportunities are well priced properties that have been properly taken care of by the seller but they tend to go very, very fast especially in this price range. You will also find that your options for single family homes in Boca Raton under $240,000 will be very, very limited unless there is a required membership obligation tied to the property.
Inventory levels, especially in your price range, are very very low and it will take a well thought out game plan for you to find success in today's market. You may need to open yourself up to a wider geographic area and have plenty of flex in your requirements. Any well priced new listing will sell in days, if not hours, so you must have your pre-qualification letter or proof of funds ready to go and be ready to act lightning fast when new opportunities arise.
A very clear description of your specific requirements is the best place to start your property search and if I can be of service to you and your family I would appreciate the opportunity to be one of the agents you may choose to interview. We are experts in finding our clients that "needle in the haystack" and would love to help you find yours.
Best of luck and if I can offer anything additional please let me know.
Always at Your Service,
Tom Priester e-PRO
"Results Driven Real Estate"
Keller Williams Realty
My name is Eva and I have lived in Boca Raton for over 20 years. I'm not only familiar with the area in regards to schools, shopping, and events but I am also a Realtor with Galt Ocean Realty and would love to help you with your search.
Please contact me any time!
Galt Ocean Realty
I would be happy to send you short sale and foreclosure info as soon as it hits the market.
I don't mind customers who are picky and have lots of patience. I've worked with some customers who looked & looked and didn't buy for more than a year. If you don't give up on me, I won't give up on you.
Please contact me directly and we can start getting you all the best information.
Can I offer a suggestion? Look into the FHA 203K Renovation program, it is a loan I have specialized in for 21 years. It allows you to borrow extra money to repair or make cosmetic changes to a home all in one loan. You can go up to 110% loan to value, and it is only 3.5% down at closing...home closes "AS-IS" and repairs are done afterwards. I am making the suggestion because the good deals on properties that are in decent condition are slipping through your fingers. How about looking at the beat up home that no one wants or a 2/1 that you can add a nice master bedroom and bath to (think Property Brothers :))? Usually you can bargain a bit more for those homes (especially if they have been on the market for awhile), and you get all the "guts" that you want! I live in Tampa, so our situation may be a little different, but I know here, the 2/1's or 3/1's go for little to nothing and you could walk into $100K-$150K of equity if you added a bedroom or bath. You can also finance 1-6 payments into your loan so you are not making 2 mortgage payments. My website has a ton of information if you would like to learn more http://www.titanhl.com, or feel free to give me a call.
Best of luck in your searches and I hope to hear from you!
Email us with your email address and criteria of the home you are looking for (price range, location, # bedrooms, etc).
We look forward to helping you with your home search! And we are competent & hungry!
Warren & Susan Tessler
Broker Associate / Realtor
A & B Realty, Inc.
Last month a listing popped up on the market and I had it under contract within 2 hours for my investor. Although it was not a shortie, it was priced like one. We closed last week and the buyers were more than happy.
On this past Thursday, we closed an oceanfront property that was also an excellent deal. How do we know it was priced so right? Because we had additional cash offers as soon as we went under contract. My point is that homes do NOT need to be shorts/foreclosures to be priced right. Sometimes those homes are priced wrong by the bank.
I have access to many shorts and REOs. I can send anything new the moment it hits the market, too.
Boca Raton, FL
How will a picky client be competive while other are decisive?
Did you notice the 'good deals' are sold via bulk purchases to investors and resurface as refurbished REO flips. To snag these deals that are hidden you need to commit and be decisive.
Did you noitce nearly 20% of traditional homes are listed as sold in less than one day?
Do you think a picky person, with the stated expectation of consuming a lot of time, requiring a lot of patieince, making their hungry and competent agent jump through hoops, who pick while others buy, presents a profile of success?
In order for your plan to work, you need to participate in the hidden market where memebership has true benefits. Low inventory and meny buyers all are positioned to frustrate the goals of a picky buyer who thinks they can compete in the traditional market place. For you, there is a better way.
Somewhere along the course of events you will need to pick up the meaning of compromise and understand that concept is the secret sauce to buying a home. The agent who fails to nurture that necessity in you, will end up speding the only irreeplacable, unrenewable, most valuable resource of all...their time.
You may want to consider a different strategy that will make you more competive and has a better likelihood of success for those who are picky. Now if youi are also a picky low-baller...that is a recipe for ..... dissappointment for all involved.
When you have clearly defined what you WILL BUY (that idea is scary, right), what you will PAY (sounding like a commitment) and when you will take action, then you are a good candidate to become an 'A List" buyer and participate in the "FIRST LOOK' options. This is a serious buying strategy, but not intended for buyers who are not serious. Your expectation, in constrast to the Florida real estate market reveals a disconnect with reality. When you see this is true, and willing to make the change, then you will be able to compete in the hidden market but also the traditional market. The enduring chaos and anxiety will magicly disappear and you'll be packing.
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL