James Mulligan

A short sale is when a seller owes more on his home than the asking price of the listing. Contrary to many people's understanding, you do not assume any debt. If you purchase a short sale or any property in Florida, you will have the property researched by a title insurance company and you will be issued a clean title and a title insurance policy. If the title insurance company finds problems with the title and will not issue a policy, you should not purchase the property.

A short sale is often difficult to buy because banks are reluctant to let the seller "off the hook". If the seller has other assets, the bank wants them to liquidate. This can complicate any closing and often short sale offers are rejected by the banks. Sometimes short sale sellers have no real intention to sell but are looking for offers for ammunition to get the banks to renegotiate their loan.

Foreclosures (often noted as "Corporate Owned") are somewhat easier to close. You will deal directly with the bank rather than a "third party approval".

Northport has seen a lot of speculation during this real estate bubble. Consequently, there are many neglected or abandoned homes. While this might sound like an opportunity to cash in, one must be VERY cautious. I have seen many homes that will not bring a positive return on investment EVER. It is important to evaluate a property carefully. Find a real estate pro who can perform a comparative market analysis of a property and help you determine repair costs. You may find that it is better to pay a little more and get a home that is in better shape.

Finally, if you are financing, you will need a preapproval letter from your lender. If you are making an offer on a foreclosure or short sale, the offer will not even be considered without proof of available funds. Even in a private purchase, an offer holds more weight with a pre-approval letter.

Jim Mulligan, Broker
Suncoasteam Realty
941-456-3034
jim@suncoasteam.com
Free MLS access: http://www.searchsuncoast.com - Wed Nov 12 2008, 06:25

Sandee,

The photo in Trulia is misleading. There is no home, only a lot. Full report on this lot.

http://mfr.mlxchange.com/Pub/EmailView.asp?r=1248858207&s=MF…

The current assessed value is $44,900. The seller paid $25,000 in 2003. The dimensions are 80x120.

There are currently 279 lots for sale in Rotonda West (inside the circle). The price range is $19,800 - $280,00 with a median price of $65,000.

Take a look at this report. http://mfr.mlxchange.com/Pub/EmailView.asp?r=1645069306&s=MF…

If you have further questions, don’t hesitate to give a call or email. You can search allof Rotonda lots at http://www.searchsuncoast.com

Jim Mulligan
Suncoasteam Realty
941-456-3034 - Mon Oct 13 2008, 08:21

Diane,

Port Charlotte will, by far, have the best prices. I wish we could find something like that on Siesta Key... it just does not exist. Englewood is very nice but a little more expensive than PC. Venice is more expensive still. I am showing homes in PC today and compared to what we saw in Englewood and Rotonda yesterday, in PC you get more for your money. Englewood and Rotonda are much closer to the gulf beaches and people are sometimes willing to pay the difference.

Here is a report of homes for sale in Port Charlotte, up to $200k: (you may have to copy it and paste to your browser) http://www.searchsuncoast.com/searchresults.html?proptype=Ho…

Let me know if I can be of further help.

Jim - Sun Oct 12 2008, 06:31

Without a doubt, the deals would be in Port Charlotte. You will find a home on a canal with gulf access, close to the Port Chrlotte beach complex or 1/2 hour to Englewood Beach. Siesta Key is beautiful but very expensive. Sarasota, Venice and Englewood are expensive and the access may not be as good.

You can see Port Charlotte homes at http://www.searchsuncoast.com

If you have any specific questions about the area, please feel free to call me or email. I will do the research you need.

Jim Mulligan, Licensed Real Estate Broker
Suncoasteam Realty
941-456-3034
jim@suncoasteam.com - Wed Oct 1 2008, 13:10

There area over 100 poll homes currently for sale through the MLS system in North Port, FL. The price range is slightly under $100,000 to well over $600,000. You have many choices. If you were to build a pool, I have seen ads starting at about $25,000 for a complete package (pool, deck, filter, cage). That is bare bones. You will probably spend $10,000 more. Nevertheless, it is probably best to first consider homes with a pool in place.

Jim Mulligan
Licensed Real Estate Broker - Sat Jun 21 2008, 08:56

I have a customer who has recently started an airport shuttle service (as well as small group charters to any location in Florida). He is a hard worker and has very competitive prices. You can call him at 941-456-2912 or toll free at 877-450-2496. The new company also has a website: http://goldservicetransportation.com/

Jim Mulligan
Suncoasteam Realty
941-456-3034 - Sat Mar 22 2008, 18:29