Phil Molinero, Renter in Port Charlotte, FL

This home price dropped $399k then $379k and recently asking $359k... I still believe for a short sale, empty home w/ needs of much. u Think?

Asked by Phil Molinero, Port Charlotte, FL Wed Jul 13, 2011

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You are right... This home is overpriced ... especially as a short sale. The homes in that area are selling for $75 to $85 per square foot under air. The home has 3953 square feet so if it was in great condition the highest price for this home is $336,000 (less if it needs TLC). That is the fair market value... however as a shortsale, you should expect a 10% reduction so you pay or offer no more than $300,000.

If I can help you with anything else, please give me a call at 941 525 6750
1 vote Thank Flag Link Wed Jul 13, 2011

If you want to hire me as your buyer agent, exclusively, I am happy to assist you.

Like the other 2 agents that have previously answered this question, this is how we earn a living. Your asking this question us the same as asking a lawyer for a free defense or a surgeon for a free operation. The good ones draw a line between a general question and free services.

If interested, just call or e-mail me. I have 14 years experience, closed over 650 truncations. So what you need to know is do you want that kind of experience working for you or someone willing to work for free?


Kevin Cloutier
Southern Premier Realty
Toll free Real Estate Hotline
0 votes Thank Flag Link Wed Jul 13, 2011
Hi Phil:

I looked a this listing and I don't see anywhere that indicates the home is vacant and needs TLC. From the pictures, it looks like a very well-maintained home and lots of upgrades. Also, short sale does not mean discounted price. When a realtor takes a listing that will ultimately be a short sale, we list it like we would any other home - at fair market value based on recent solds and homes under contract. The seller's lender ultimately has to approved the sale and the lender will get a BPO on the home. This is a market analysis for another realtor. This helps the lender determine if the agreed purchase price is at fair market value. If it isn't the lender can come back to the buyer and/or seller and ask for more money.

However, with all that being said, if it hasn't sold yet, the market is telling the seller that buyers are not interested in that home at that price. You also have to take into consideration the surrounding neighborhood and homes in the area. Are they comparable in size and amenities. I would be happy to answer any other questions you may have or provide you with any information you need on this property or any others you may find as you are searching.
0 votes Thank Flag Link Wed Jul 13, 2011
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