Scott, Home Buyer in Tampa, FL

Looking for a desperate seller. Will be making an offer 20% below list price. Looking in the 150,000 range.

Asked by Scott, Tampa, FL Tue May 6, 2008

NorthEast/SouthEast area. Wood Floors/Garage a must

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12
A home came on the market in Madeira Beach last week. It was an absolute steal! I advised my client to offer 5% over asking price and to submit an offer site unseen subject to inspections. They thought I was crazy. Within 24 hours the home had 4+ offers and sold for far more than asking price. My point is asking price is absolutely irrelevant. It all boils down to how far below actual market value one can purchase a home. Furthermore, buy from a distressed owner-NOT a distressed property.

Sincerely;

John E. Desautels
Broker Of Record
Real Estate Sales & Financing., L.L.C.
727-343-2488
Web Reference: http://www.mustmoveout.com
1 vote Thank Flag Link Thu May 8, 2008
Scott,
and to follow up what if it is already priced 25 % under market because the guy knows he is a desperate seller.
Just find a good Realtor and tell them you are a bottom fisher, let them take it from there.
Margaret
0 votes Thank Flag Link Sun Jun 8, 2008
Scott what if the list price is overpriced by 50%? The technique you are mentioning would still leave you paying more than market value. A list price has nothing to do with market value. This is why you want to choose a Realtor to help you and do market analysis on any home you are interested in purchasing. Also, what if the home is already priced at 70% of market value? An example I like to use is if you were selling your car (lets say a Toyota Camry year 2007) and it was for sale for $5,000 would you still need to attempt to negotiate? The best way to get a deal is to know a deal when you see a deal! Good luck!
0 votes Thank Flag Link Fri May 16, 2008
Scott,
There are many homes that represent opportunities such as the one you are seeking. Find an agent to work with...the rest will be easy.
Good luck,
The"Eckler Team"
0 votes Thank Flag Link Fri May 16, 2008
A long time ago I heard someone refer to the stock market in the following way:

Bulls make money, bears make money. Pigs get slaughtered

I apply it to real estate as well. The smarter real estate agents are already snapping the good ones up for themselves to flip when the market rebounds in 1-2 years. The unscrupulous agents are beating the drum of hysteria to "Buy now before the prices rebound or sell now before prices go lower."

You've got a brain, don't be rushed. Do your homework.

I know of a house listed at $2 million, it isn't worth $1.2 million. Think $1.6 million is a good deal?
0 votes Thank Flag Link Thu May 15, 2008
As the others here advise, don't look at discount off the list price. The house may be overpriced, and a 20% discount may be no bargain. On the other hand (though less likely), the house may be such a great deal that being there first, with some discount less than 20%, may give you a great value.

Remember, too, you're looking for a desperate SELLER. (Or, better, a motivated seller.) You're not looking for a desperate HOUSE. If the seller's desperate enough (whoops, motivated enough), you can correct things like floors, or add a garage.

And while you're at it, consider looking beyond listed properties. There are plenty of other properties out there (everything from FSBOs to pre-foreclosures) that may not be listed. And for Realtors concerned that I may be suggesting a way to avoid a commission: not at all. Find a good, creative buyer's broker. Cover everything that's listed, and have your broker search out things that aren't. (Hint: There's less competition for houses that aren't listed than for those that are.)

Hope that helps.
0 votes Thank Flag Link Thu May 8, 2008
Don Tepper, Real Estate Pro in Burke, VA
MVP'08
Contact
Thanks everyone for the responses.
0 votes Thank Flag Link Thu May 8, 2008
We have contacts that can help you find what you are looking for. I would suggest carefully checking the property and title with any any deep discount.

Paul Papas
0 votes Thank Flag Link Wed May 7, 2008
Scott, there are a few areas in St. Petersburg which have homes available with wood floors, and garages--in fact I'm working with a buyer right now to purchase a short sale in NE St. Pete for less than 100K. These homes may or may not be listed at already 20% below market value, but there is no doubt that the price is right! Check my blog for video updates if you'd like a bird's eye view..."Living in the Real World ~ Lola's Log"
0 votes Thank Flag Link Wed May 7, 2008
Just be careful you don't find a desperate seller who priced his home over market by 25%
0 votes Thank Flag Link Tue May 6, 2008
Hi Scott,

I've networked with several Realtors that work in your area and specialize in foreclosures AND short sales. These homes can sell much lower than 20% below asking price. Please contact me ASAP so I can provide you their information.

Christina Asad Edwards, REALTOR
2006 & 2007 Sales Masters Top Agent
Christina.AsadEdwards@RealLiving.com
http://www.teamedwards.info
mobile or text 937-205-4741
office 937-573-0082
fax 937-433-3561
Real Living Realty - #1 in OHIO!
Realty, Mortgage, Title, Relocation
Web Reference: http://www.teamedwards.info
0 votes Thank Flag Link Tue May 6, 2008
We have many homes in the areas mentioned that fit your criteria. We alos have full forclosures available. A program that will give access to the MLS 24/7 so that you can be looking up different homes and area. Just email me at richard@FLALR.com, call at 727-410-8400, or go to our website listed below.
Thanks for asking
0 votes Thank Flag Link Tue May 6, 2008
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