I'm a Florida Mortgage Broker trying to purchase a Beach Condo and I'm up at 7:00 AM going to meet up with my realtor to look at homes this morning with Pre Approval Letter and 20k Good Faith Deposit Check in hand to make offers
I see prices shooting up all over FL and I don't want to miss the boat at these prices.
Prices soften in the summer? Yeah, right! I suggest buying now or pay a lot more by summer!
Prices does seem to a little in the past but today, it is more of a seller's market than the past and inventory been down, so the law of supply and demands may be a factor as well as you are competing more. The buyers are out to buy. Also, loan cost are schedule to go up in June that will impact your cost.
As for Short Sales, and foreclosures, they are two different home sales.
Short sales the owner still has the house and you dealing with the owner of the house. Just he can not sell till the bank approve the contract between the owner and the potential buyer. Short Sales has gotten better than the past and closing sooner many times. As for conditions, this would be subject to
the specific property. In other words, shop around. Your best property are those you see that states " Bank Approved short sale" . This mean, they already determine the sale price they want. This is also an "ASIS" contract, but can be a little flexible working with the right agent.
Foreclosures belongs to the bank. They are the owners, and already determine what they want on the property and are sold "ASIS" meaning they not going to do anything to fix or repair things for you,
Also, not sure if you an all cash or you be financing, but all cash may serve you better.
Again, till next time, My best to you.
Ronald (Realtor Ron W) wolchesky
"Success is when we work together to achieve your GOAL!"
License in Florida
Please feel free to contact me directly with any questions or for any other assistance.
Kevin E Yankow
KEY Real Estate, Inc.