Property Q&A in 33141>Question Details

Roger, Home Buyer in 33116

My condo is for sale 137000 all new near beach - not a foreclosure and not a short sale. The sales price is

Asked by Roger, 33116 Sat Mar 28, 2009

so low that i will make zero on it even though i put 40% down in 2005. It's a 600 sqft studio with all new
everything and a rooftop pool and gym, 1 1/2 blocks from ocean.
Is there any website besides MLS and Craigs that i can advertise it on as a quick buy or sale since
it's not a shortsale and try to interest buyers that want a fast transaction instead of waiting?
I paid proptax, but now i cannot catch up with hoa and mortgage, i got laid off.

Help the community by answering this question:

Answers

1
Hello Roger,

There are 1000's of property websites where you can advertise your condo to attract buyers. Keep in mind that the short sales, foreclosures and lower priced units listed for sale in your building are probably advertised on these sites as well. Buyers are armed with real estate knowledge now more than ever which equates to purchasing power. I'm sure if you conducted a survey asking buyers if they had a choice between 2 condo units in the same building: one a regular transaction sale they can purchase at or above fair market value (today) or the second, a short sale they can purchase 10-25% below fair market value (one/two months down the road) most if not all would choose the latter. In closing, a property is worth only what a purchaser is willing to pay. With so many short sales, foreclosures driving property sales in South Florida these transactions have a significant impact on your property's market value and are reflected on the appraisal. Inevitably this is your competition.

You mentioned that you were recently laid off and as a result cannot catch up with hoa and mortgage. According to those facts this may be the perfect time for you to contact a Realtor regarding listing your property as a short sale or your lender to see if you qualify for a loan modification.

For more information or a free consultation you can reach me at MiamiBestTeam@AOL.com.

Andre' Shambley
Miami Best REALTOR® Team
The Keyes Company
0 votes Thank Flag Link Sun Mar 29, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer