Richard Tressler

Buy before the elections. There is plenty of confusion in the market and that is creating opportunities for buyers. After the election, folks will begin to settle down....that sentiment also is being echoed by FL economists....see link and read the powerpoint reports 7/14/08. http://(www.fishkind.com) Central Florida will always be a draw because of weather, proximity to vacation amentities and access to transportation. The economist preparing this report suggests that things are only getting better for Central Florida (ie. we have reached the bottom) and therefore things will be heading up as we rolling into 2009/10. Buy now while the rates are good and there are plenty of homes to choose from. If you would like some assistance, please let me know.

Rick Tressler
TCAT Realty
407-421-3002 - Sat Jul 26 2008, 06:47

Hi Shakil,

Have you considered homes that are available as lease option or rent to own? These sellers tend to be more flexible and there is more time to work out the details with getting through the program. If you would like to explore this avenue, please give me a call.

Rick Tressler
TCAT Realty
407-421-3002 - Sat Jul 26 2008, 06:28

Is the house listed with a realtor? Has the realtor changed the status to pending? Are you communicating with the realtor weekly?

In most all cases, banks require that the houses be listed with a realtor. They want to know that the property is getting exposure in the market. A new rule just out requires realtors to mark the listing as pending when they have a contract even if it is a short sale so that no one else is submitting offers on top of yours. The bank should review an offer and make a yes/no decision. Once they have made that decision, then other offers can be submitted if the bank rejected the first offer. As the others have commented, 2 months is a short time in bank years. Be patient and if you find other homes, make more offers....Better yet..look for REO properties in the same area...they are everywhere and prices are as competitive if not better plus you get an answer in 2-3 days. If you need assistance, please give me a call.

Rick Tressler
TCAT Realty
407-421-3002 - Sat Jul 26 2008, 06:16

The real question is did it give him time to resolve his situation --- loan modification, short sale or sale? Delays are only good if something positive is being done with the free time. If you are facing a similar situatiion, don't wait to do something because like many other folks have commented...every bank is different. If you need someone to help you with a short sale, I would be glad to recommend someone. If nothing else, contact you bank immediately and see if you are a candidate for a loan modification and ask a realtor what you home might sell for in today's market.

Rick Tressler
407-421-3002 - Sat Jul 26 2008, 06:05

If you are considering a purchase then take 15 minutes and review the attached study. It details why people are buying/not buying and what to expect in the future. Long story short, better to buy in Central Florida than SW Florida because folks will always want to see Mickey..(maybe fewer but still a lot) Better to buy within 60 miles of a major airport. This economist believes we will see better times sooner than some other parts of the state but we still have some rough times before us.

As for the folks trying to time the market, it does not work in stocks nor does it work in homes. A good deal is a good no matter what. Base your decision on fundamentals -- positive cash flow and location, location, location. This applies to both SFR and multi-family homes. If you can buy a SFR with positive cash flow and wait out the market, then now is a great time to consider a purchase.

If you need help with a financial analysis model on a property, please give me a call. We can evaluate it based on fundamentals and make a solid decision instead of letting the media noise paralyze you.

Rick 407-421-3002 - Fri Jun 20 2008, 15:14