orangevillem…, Home Buyer in Bonita Springs, FL

do prices soften in summer in FLA? do you suggest stay clear of short sale/forclosures?

Asked by orangevillemike, Bonita Springs, FL Fri Apr 5, 2013

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I doubt the market will soften this summer—We have seen quickly disappearing inventory and not many new listings. Prices are going up and have been as a whole since 2009. That was the bottom. Short sales and foreclosures are becoming less and less too. Short doesn’t mean short time frame and many of the listing agents put a low price on the home so elicit multiple offers and they go for a much higher price than you can perceive you can.
0 votes Thank Flag Link Thu May 30, 2013
With the number of properties listed for sale at an all-time low point, I doubt prices will soften this Summer. My company lists & sells numerous Short Sales to the benefit of both sellers and buyers, wherein an attorney represents the buyer in the bank/lender/servicer/investor negotiations and our title company provides the pre-closing searches required for short sales. No fees to either, unless/until the transaction closes. Short sales typically take 2-3 months to close, depending on number of lien holders with which we have to reach settlement.
0 votes Thank Flag Link Wed May 1, 2013
0 votes Thank Flag Link Sat Apr 6, 2013
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!

0 votes Thank Flag Link Sat Apr 6, 2013
Prices have continued to climb for the past couple years. I have no personal problems purchasing short sales or foreclosures except for the competition and multiple bidders... good deals go fast :)
0 votes Thank Flag Link Fri Apr 5, 2013

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
Home: 239-349-4684
Cell: 239-209-1923
0 votes Thank Flag Link Fri Apr 5, 2013
Smoke and mirrors.....we close more out of season than in.....lots of tire kickers in season....the true buyers are here year round. You do see more sales in season in general overall terms though....
0 votes Thank Flag Link Fri Apr 5, 2013
Soften no. In SWFL the season creates a market where more buyers are competing for properties. This creates a "Sellers market" whereas the leverage in the negotiation process will favor the Seller. In the summer, Off-season, the favor swings to the more limited number of buyers. In this market as things are rebounding Sellers aren't so much in the "need to sell" category so they would like to sell. Seller's have weathered the storm and rode out the bumpy ride of declining values and distressed sales and are now selling because they would like to. The properties that were overpriced during season will probably soften but they are merely correcting an over priced, ill advised, recommendation by their listing agent.

Please feel free to contact me directly with any questions or for any other assistance.

Kevin E Yankow
KEY Real Estate, Inc.
Web Reference:
0 votes Thank Flag Link Fri Apr 5, 2013
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