There are good deals on foreclosures in Palm Coast right now, if you want a list, I can email you one
so that you can see for yourself, I looked at a home for a customer that sold in 2005 for $360,000. and
it has been foreclosed by the bank and on the market for $169,000. needs paint, carpets and appliances,
but it is in good shape otherwise, it will make a great deal for somebody and there are manyl more.
Always do your homework, gather all the information you can and work with an experienced REALTOR to determine if now is the ideal time for you personally to purchase...everyone's needs and goals are different and should be treated as such.
If you are looking at bank owned or short sale properties...make sure your expectations are realistic and always have either a proof of cash funds letter from your bank or pre-approval letter from your lender before you begin your search. REO and short sale properties will require this information be submitted with any offer.
I wish I had all of the answers to your questions...but my crystal ball is a little fuzzy right now :-) The good news...our inventory levels have dereased significantly in the last 9 months.
I agree 100% with Harry Ashley. He actually works in my office and is one of the hardest working most succesful agents in town right now.
If he is telling you to hold off until the summer months when sellers will be scrambling because the buyers have dissapeared, I agree...better time to get a better deal on a Palm Coast Home. Plus more and more bank owned properties are in the pipeline soon.
I also would suggest if at all possible, stay way from the short sales,,,they usually lead to dissapointing results for the buyer and once the bank gets ahold of them, you can generally pick them up for less and with a very quick closing.
When you are ready to purchase...give Harry a call...he will find you the best property for the best price.
If you are considering making an offer on a short sale, you are obviously in no hurry! I have one short sale that I inherited, (I do not list short sales generally), we had two offers in the first week of January and the lender only responded last week. If you are not in a hurry, I would suggest waiting until the summer months when buyers are typically in short supply and prices appear to still be dropping. I am a full time Palm Coast Realtor.
If you would like a list of foreclosures in Palm Coast, you can email me, my email address and other contact information is in my website.
I agree with the previous answer. Do your homework and have a Realtor come up with a market analysis.
Just because it is a cash offer does not mean that you will get an immediate response. Be prepared to wait. Remember that the offer has to be approved not only by the seller but also the lien holders.
I would say there is not particular % that is standard. What I would do is find out how long the property has been on the market, how many offers have they had, the comps for the area to determine the actual market value, the presentation of the unit itself, inspection reports, and then come up with a good offer.
With cash only, I do think there is room to come lower than a lender supported offer but by how much will take some home work.
Good Luck. I love the Palm Coast area. I am an original Floridian transplanted to California.