Senior Homeowner

Our BUYERS AGENT found us our "new" home, built 11/2005 as the Model Home, 3/2 with stainless appliances, tiled/screened 14X10 back porch w/walk -on roof that was for sale at $270,000, (for 1 year), then on Short Sale for $205,000 for ten months, and we offered $185,000, on Dec. 3th 2007, They responded on Dec.8 with a firm NO, so we resubmitted our offer of $195,000 and the California bank responded with YES only 9 days later. One item we wanted was to close before Jan 1, 2008. Another was a warranty ($395).

We got it ALL. Backyard abuts a half acre chain linked Nature Reserve established so that the noise of a great local park would not intrude. Stocked lake of about 12 Acres, 2 playgrounds, 2 Racket ball courts, 2 tennis courts, and 6 basketball courts... free admission! NO HOA!!! In Downtown Oviedo, 5 miles from UCF, blocks from three major highways (419 two blocks, 434 is four blocks, 426 two blocks) and one toll road (417/408).

There are exceptions to every 'rule', and low balling frantic bankers can make a buyer's day!
They might say NO, but, you simply offer a bit more to entice them!
We closed on Dec. 28th, 2008! Play some HARD BALL with these banking suckers, as they have gyped us plenty in the fat times!

One other thing in Florida is Hurricane straps, 12AWG electrical wiring, reinforced Garage Doors, are MANDATORY on all NEW homes since 2005!

There are plenty of homes here on short sale or foreclosure, built since the new codes! - Thu Jul 10 2008, 18:43

Our BUYERS AGENT found us our "new" home, built 11/2005 as the Model Home, 3/2 with stainless appliances, tiled/screened 14X10 back porch w/walk -on roof that was for sale at $270,000, (for 1 year), then on Short Sale for $205,000 for ten months, and we offered $185,000, on Dec. 3th 2007, They responded on Dec.8 with a firm NO, so we resubmitted our offer of $195,000 and the California bank responded with YES only 9 days later. One item we wanted was to close before Jan 1, 2008. Another was a warranty ($395).

We got it ALL. Backyard abuts a half acre chain linked Nature Reserve established so that the noise of a great local park would not intrude. Stocked lake of about 12 Acres, 2 playgrounds, 2 Racket ball courts, 2 tennis courts, and 6 basketball courts... free admission! NO HOA!!! In Downtown Oviedo, 5 miles from UCF, blocks from three major highways (419 two blocks, 434 is four blocks, 426 two blocks) and one toll road (417/408).

There are exceptions to every 'rule', and low balling frantic bankers can make a buyer's day!
They might say NO, but, you simply offer a bit more to entice them!
We closed on Dec. 28th, 2008! Play some HARD BALL with these banking suckers, as they have gyped us plenty in the fat times!

One other thing in Florida is Hurricane straps, 12AWG electrical wiring, reinforced Garage Doors, are MANDATORY on all NEW homes since 2005!

There are plenty of homes here on short sale or foreclosure, built since the new codes! - Thu Jul 10 2008, 18:41

Just bought, for $195,000, a NEW model home, a SFR that cost $269,300, built in Nov. 2005, with all stainless steel appliances, 2000 square feet, next to a conservation area, near a stocked, motor free, spring fed lake, with large park, and close to 4 major roads, one tollway, but, far enough and with enough trees, so it is quiet and pristine! In Florida, where I already own two homes.

The savings of $74,300 will become a great start on some huge equity, as I tend to live beyond the average of 7 years in a home. The home from my Air Force retirement in 1985 was mine for 14 years, and the current two are 7 years. Might sell one.

To me, it is a GREAT time to buy! This deal comes with a warranty, on a short sale, in pre-forclosure. Closing before Christmas, our family will homestead it, and perhaps sell one of our two older homes, as they also represent equity in the new market of over $60,000 each at current prices. They are located at a busy crossroads in the Seminole county area, with fast access to Orlando!

I think Greg is coming from the point of view of the house flipping investor, trying to actually collect the equity found in some of these fantastic deals , in the short term flipping market!

In the one small town of 11,000 where my new home is located, there are 250 listed foreclosures and pre-foreclosures on the MLS! You and I both know there are some great bargains, if you will be living in one, and not trying to flip it!

Tough market to sell in, but a wonderful one for the buyer who wants a dream home at a huge savings! The Buyer Agent, and the Realtor, still get paid!

If you intend to buy to live in it, get a FIXED rate mortgage, have the down payment, get a Buyer Agent, and do all the searches, you can do this!

Don't let some money hungry speculators rain on your parade with sour grapes!

The part of the market that is leading this trend is the collapsing ARM speculator lending, but the true home owners who were pushed out of the market for the past 7 years, and who saved their money for this opportunity, are now able to feed our need for a new home, at huge savings!

I also know that my current homes are worth double in this market, of what I had mortgaged them for in 2000, and that my new home will be worth double the current cost, in less than 7 years!

If you are a market speculator, then, gee, I am so sorry you might lose out now. But, you kept many home buyers who want their own home at the disadvantage for the past 7 years, pricing them out! Now the tables have turned, and the normal and legitimate deals are still there, for families!

This is a 'good thing'! I thank the Realtor, the Buyer Agent, that bank in California, and even the seller, (who made repeated appeals to the bank, and offered to make up the difference, as he can dump it all as a loss on his corporate tax filing as a business loss! ) who all expedited this family's happy acquisition of a brand new dream home! - Sat Dec 15 2007, 07:51

Casselberry opened a good dog park, on a lake, this year! Located on Highway 17-92, North of Orlando. If you travel I-4, to the Highway 436 exit, (Altamonte Exit) it is about 4.5 miles.

Tons of great dog parks exist in Central Florida! Just remember to always be a good citizen, and use a baggie to pick up after our pets! - Sat Dec 15 2007, 06:41

On our purchase of the Pre-Foreclosure model home, we also needto tell you that it was a "short sale" meaning that we can request a closing before Christmas, so we can declare the Homestead tax exemption, move in over the holidays! Our Buyer's Agent also steered us to several lenders, and we chose one who pre-qualified us for this purchase!

Sometimes, the connation of a pre-foreclosure and a short-sale can be GOOD, and not any problem as some answers on these boards would have you believe.

We don't deal in fear, and there is only the options of possibilities for us, from which we choose. BTW, this new address is 11 miles closer to the grandkids, 3 miles closer to work, on major roads that are less jammed with traffic!

Happy holidays to all, from us! - Sat Dec 15 2007, 06:28

My experience is this:

We found a Buyers Agent who helped us to find 250 homes of 1500 Square Feet, 3/2, with garage, that were in foreclosure, or pre-foreclosure, for $150K to $250K, to look at in one town in N. Central Florida, 1 mile from four major highways and a toll road.

It was explained to us, that pre-foreclosure, the banks might be looking at huge costs of the legal process that a buyer could possibly save them! The Buyer Agent splits the commission with the realtor, so cost us nothing!

We placed an offer, the bank dropped their price by $1,000, overnight. But, we were $19K apart, so we went up $10K bit on a second offer, but, now, insisted upon the 2.5% closing payment, plus a warranty insurance plan for one year, on the advice of the Buyer Agent, and certain minor repairs on this home that was only used for a show home since it was built.

The figures: Bank loaned $239,300 in November 2005, on a NEW home, to an investor for Speculation, and lease back to the developer. Investor put $15,000 down, and spent $15,000 on a 10X14 Screened, tiled, patio; stainles steel appliances (Frig., Dishwasher, Oven With Microwave); garage door opener; four ceiling fans, tiled the kitchen and great room; put in wood venetian blinds; installed sod on the entire property; placed trees and bushes; wood fence on back property; attic drop stairs; added a two meter, zoned irrigation system on an agri (reclaimed water) meter!

All wiring and construction, conforms to the newest Hurricane standards and NEC; home run all cables for computers, TV/ Satellite coax cables, to 5 rooms, Anchored roof, dual glaced storm windows, SEER 12 Central A/C, heat pump.

Our offer for $195,000 placed on December 5th, was answered with a total acceptance on December 14th! That new home was worth $269,300 to the bank and investor, in 2005.

As they say, "Your Mileage Might Vary", but, please follow our example, and get a professional to help you! We all know that in the average ownership time of 7 years, a home will probably appreciate to much greater value, perhaps double or triple?!

In any event, we will really enjoy the nearby park, stocked lake, and sportsplex, on the other side of the conservation zone that protects our tranquility and property! - Sat Dec 15 2007, 06:15

Wow, as a consumer, I check the prices, availability, local services, for everything we purchase, and especially the big ticket items, on the Internet!

First stop in any search is Google! Is your house listed so Google shows it when the address is entered in the search bar?

Right now, I am seeking a new home, in the $200,000+ price range.

If yours wasn't where I could see it, on the Internet, then we both lost out!

I have 'seen' a home in photos, before spending the gas to go in person! Found one, in Oviedo, that I like, and that was on the Internet! But, it probably is NOT yours, as the agents listing this one offered up lots of photos and info about the history of the home, and something about the area around it! They have my offer and earnest deposit.

This is too bad that I didn't get to see your home, and possibly make an offer. I hope you can resolve the situation! I did just now look at your tour, and all I can say is that we both lost a great opportunity!

Don't believe all the media madness about the number of homes on the market, 'buyers' market, as I have seen a ton of opportunistic sellers, with rundown homes priced too high, that are NOT like the treasure of a home you offer! I know some potential buyers who would like an opportunity to 'see' your house, and they will get your tour URL, from me.

It might be 'news' in the media that the housing market has a glut, but, there are at least half of us buyers who have been looking all along, during the rise of the 'Seller's' market, and the fall of same, who are pre-qualified, and have been looking on the Internet for at least three years.

To us, this is a market glitch, and might bring a slight reduction in purchase cost, but, we want what we want, and will buy it when, and if, it becomes available.

Make yours 'available' to the more educated, better financed, pre-qualified buyers, who shop on the Internet.

BTW, our 28 yo daughter just purchased (October 2007), 3.57 Acres with a 2,000 Square Foot home, on a lake, the home for her family that she saw on the Internet. The seller happily agreed to $292,000, almost tripling what it cost him ten years ago. None of us are doctors, lawyers, or chiefs. Simply, we are computer technicians and technical writers, military retirees, and billboard contractors, with good credit based upon wise choices. - Thu Dec 6 2007, 08:14