Property Q&A in Destin>Question Details

Courtney Sno…, Home Buyer in Saint Pete Beach, FL

Is this for real?? $50k for a house this close to the bay and this big? Please advise...

Asked by Courtney Snowden, Saint Pete Beach, FL Sun Oct 21, 2012

This question was asked from this property:…

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A lot of people start their real estate search on the internet. trulia is a great site for starting this search, however, you really need updated information from a realtor when you start narowing down your search. It is the biggest investment you will make. You can't believe everything you read on the internet.
0 votes Thank Flag Link Thu Jan 24, 2013
Yes, sorry, this is just a listing showing the home is currently in the first stages of foreclosure. The homes in this neighbohood sell for $200,000 - $400,000.
0 votes Thank Flag Link Thu Dec 27, 2012
If it sounds to good to be true......

Realty Trac strikes again:
Look at the posting for that home again and find the logo for Realty Trac (black and red). Most times when you see that logo on any listing it means the price you see is NOT a sale price, and the home is probably not for sale as of yet. It is just a posting of what the Bank/Lender had to pay the courts to document regaining custody of the home when they foreclosed on it (transfer value); and/or an announcement that the foreclosure process has just begun (Lis Pendens). Next that Bank/Lender will take several months to put the property on the market at "Market Value for the specific community" and it will be listed/advertised as a Foreclosure or an REO.

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Tony Vega
La Rosa Realty
0 votes Thank Flag Link Mon Oct 22, 2012
It is 'too good to be true!"
As Bonnie indicated, searching for homes that are REALLY for sale on aggregate websites like Zillow and Trullia will result in chasing the illusion of homes for sale and the vapors of homes sold long ago.

A recent study revealed 30% of homes shown for sale on these site are 'unavailable."

If you are a serious home buyer, you need to graduate to serious tools. The data resource with the most reliable, timely, accurate, comprehensive, relevant and accountable data is the local Mujltiple Listing Service. If you would like access to the Mid-Florida Regional MLS (Tampa Bay including Pinellas County) just drop me a note with your search preferences and I get you enrolled. Your next best choice will be or

Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group

First Look:
0 votes Thank Flag Link Mon Oct 22, 2012
Dear Courtney,
Currently there are two homes for sale on this road in Destin. The prices are $385,000 to $395,000. What you saw was very inaccurate and misleading information. The most trusted source for information is the actual MLS connection. You can do a proactive search at

Just copy and paste this into your browser.

Alternatively, you can use the services of an Exclusive Buyer's Representative, like myself. My services are free to use and I will help you through the process. By working with buyers only, I never try to sell you a company listing. Your interests are totally protected and your goal becomes my number one goal as well. I would love to work with you in your quest for a property in the Destin area. It is my speciality.

I look forward to working with you and helping you not only save time, money and avoid frustration but also make this a most pleasant experience as possible. Feel free to call me on my "shell phone" anytime at 850-420-2480.

Warmly yours,
0 votes Thank Flag Link Mon Oct 22, 2012
Courtney, there is a lot of misleading information on the Internet regarding Real Estate. For up to date listings feel free to search the MLS (multiple listing service) on my website searching here will help to keep you from chasing properties that are not accurately listed and give you the most accurate information available. Good luck. Bonnie
0 votes Thank Flag Link Sun Oct 21, 2012
Courtney, this is more than likely a 2nd mortgage that is in default. The amount of the loan is 50K. The foreclosure process may have started on this property. The seller is in default and if this outstanding balance is not remedied, the bank will more than likely foreclose on the property. If and when the home does hit the market, it will be sold as close to appraisal value as possible. The value of this home will be in the 300-400K range.

I hope this was helpful. If I can be of further assistance, I can be contacted at You can also visit my website,

Take care,

Ken Koger
0 votes Thank Flag Link Sun Oct 21, 2012
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