tess2die4, Home Buyer in Sunrise, FL

Hello Agents, My husband and I have been trying to purchase a home in the Sunrise, Tamarac or Pembroke Pines area but has been unsuccessful to date,

Asked by tess2die4, Sunrise, FL Wed Apr 24, 2013

Any suggestions? Investors have been gobbling up the real nice houses, we originally tried FHA without success, now trying conventional. Looking for a 3 bedroom and 2 bathroom, great area with great schools, maximum price range 130k,

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Cash buyers have an advantage over financed in a couple of ways:
- they can offer a faster close, which means money in the seller's pocket quicker, and
- they can pay more than appraised value, if they really want to.

So, a seller receiving an offer from a cash buyer would be more tempted to take a cash offer. As a buyer depending on financing, you need to do a few things:
- make sure your agent understands the market, and whether a home that you are interested in has comps that recently sold supporting the list price, then
- bid above list (only if an appraisal will support the price) - at the end of the day, a seller will take the higher bid if they are confident the property is worth the price, and an appraisal won't kill it.

The reality of our market right now is that inventory is tight, and investors are taking the opportunity to get in quickly, often without requiring an appraisal to support the purchase price. I have represented buyers recently who would love to purchase a home at a reasonable cost, but the homes they like are asking prices against which appraisals won't support. This is an attempt to keep the market in check, and a result of the ridiculous bubble that occurred a few years ago.

Patience is definitely required - more inventory will come out as owners will realize it's a good time to buy, and things stabilize. I'd be happy to talk more about this with you at your convenience, if you'd like, with no obligation. Good luck!
1 vote Thank Flag Link Thu Apr 25, 2013
You are in an investor friendly price range with very low inventory.The median price range is $250,000.00 Good Luck


Susan Penn, PA, SFR, CDPE http://about.me/HomesForSale_SusanJPennPA
EWM Realtors® | A HomeServices of America Company | An Affiliate of Berkshire Hathaway
2000 Main Street, Suite 103 | Weston, FL 33326 http://www.susanpenn.com
T: 954.306.7337 | C: 954.557.5993 | F: 954.515.0200 | penn.s@ewm.com
0 votes Thank Flag Link Tue Oct 8, 2013
"Seller will not consider low offers regardless of comps. Please show accordingly"
THAT is what an agent is stating in a section of the MLS that the general public NEVER sees!

Think that would hurt a seller? Think it would slow traffic down of ready, willing and able buyers? NO!! This property went under a contract in 3 (THREE) days!!

Buyers…If you think you can wait, take a moment to decide, weigh options…THINK AGAIN! You have to be credit approved…Preferably planning to use a conventional mortgage or better, CASH or you will be competing with buyers who will see such conditions and STILL pull the trigger!

Sellers market indeed! Welcome to South Florida in 2013!

I suggest you try condos and TH in the Tamarac for that price range. If you still want a house, you can try buying an old 2 bedroom in Cooper city and with time add a 3rd bedroom, since some of these communities have no association and you can have more freedom and a bigger size lot.

My number is 954-536-3495. I will help you find a home!
0 votes Thank Flag Link Wed May 1, 2013
Hello,
If you are not currently working with an agent, please contact me. I have a few ideas I can share and also that I've used for people in your situation. The market right now is tough and inventory is low, so don't think this is just happening to you.
Denise Ditman, PA
Keller Williams
954 651 0200
Ditman@DitmanGroup.com
http://www.DitmanGroup.com
0 votes Thank Flag Link Thu Apr 25, 2013
It seems like you have an agent if you are trying to purchase a property. You need to ask this question to the agent you are working with. Actually there are a few ways out there to use financing and get you a home.

Susan Penn, PA, SFR, CDPE http://about.me/HomesForSale_SusanJPennPA
EWM Realtors® | A HomeServices of America Company | An Affiliate of Berkshire Hathaway
2000 Main Street, Suite 103 | Weston, FL 33326
T: 954.306.7337 | C: 954.557.5993 | F: 954.515.0200 | penn.s@ewm.com | http://www.ewm.com
0 votes Thank Flag Link Thu Apr 25, 2013
Tess,

I am sorry you are experiencing such difficulty. Are you working with an agent? Have you been pre-qualified for a mortgage? If so you are ahead of the game.

Best of Luck;


Christina Solorzano
CEO & SR Credit Repair Specialist at
Everlasting Credit Repair
http://www.everlastingcredit.com
0 votes Thank Flag Link Thu Apr 25, 2013
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You should see what the payments are on a 180k purchase with less down or out of pocket

See programs below, then contact me to talk about how to minimize payments and reduce out of pocket costs.

1) 100% LTV- VA / (VA Jumbo @ lower ltv)
2) 100% LTV- USDA/12 mo. into Chapter 13 BK…OK Too
3) 99% LTV- FHA / (FHA to 580 score @ lower ltv)

4) 97% LTV- No monthly MI-No FHA 1.75% Fee
5) 95% LTV- CONDO
6) 90% LTV- No PMI -2nd Home
7) 90% LTV- JUMBO
8) 85% LTV- No PMI - Super Jumbo
9) 80% LTV- Invest./Rental
10) 75% LTV- Foreign Nationals

--------STATED INCOME ALT up to Super Jumbo-----------
http://www.StatedIncomeALT.com
11) 80% LTV- FIX n’ FLIP Invest. Prop.
12) 75% LTV- Foreign Nationals
13) 75% CLTV- Short Sale, BK, Foreclosure Forgiveness
14) 70% LTV- Soft and Hard Money
15) LOT/VACANT LAND LOANS
16) COMMERCIAL PROGRAMS-available nationwide

Go to: http://WWW.PRO-OPTION.COM or call 888-662-4404

Steve McRory
Pro Option Mortgage/ Florida
steve@pro-option.com
#204296

Prior Service U.S. Marine Corps
====
0 votes Thank Flag Link Thu Apr 25, 2013
Hello,
In this price range you will be beat by cash buyers. Are you looking to buy a Condo? Townhouse? Single Family? I am very familiar with the area and with the government programs that will not take a look to any investor offer if they have a FHA buyer like you. Feel free to give me a call or email me and I will assist you in your home search if you are not working with an agent at this time.
Regards,

Evelsi Conqueth
Keller Williams Realty
Direct: 954-543-3810
http://www.evelsiconqueth.com
0 votes Thank Flag Link Wed Apr 24, 2013
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