Hi, I don't understand what does the price mean. $100 is the price for a condo? How much should people really pay to own it?

Asked by Greatf, Jupiter, FL Fri Aug 10, 2012

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Antonio Vega…, Agent, Saint Cloud, FL
Fri Aug 10, 2012
Realty Trac strikes again:
Look at the posting for that home again and find the logo for Realty Trac (black and red). Most times when you see that logo on any listing it means the price you see is NOT a sale price, and the home is probably not for sale as of yet. It is just a posting of what the Bank/Lender had to pay the courts to document regaining custody of the home when they foreclosed on it; and/or an announcement that the foreclosure process has just begun (Lis Pendens). Next that Bank/Lender will take several months to put the property on the market at "Market Value for the specific community" and it will be listed/advertised as a Foreclosure or an REO. Was this answer helpful? If so please click on the "thumbs up" above.

Tony Vega
La Rosa Realty
0 votes
Jack Liebsch…, Agent, Pompano Beach, FL
Fri Aug 10, 2012
You likely came across a property which is or was bank owned. The $100 price is the transfer value which is reported by RealtyTrac. The transfer value is determined at the foreclosure auction. The reason why it is so low is due to no competing bidders. If competing bidders existed, the bank would likely had driven the price up to the amount of the debt owed, which is in most cases above market value.
0 votes
Tom Priester, Agent, Tequesta, FL
Fri Aug 10, 2012
Dear GreatF,

Thankfully the real estate market has been making a remarkable turn around and prices are on the ride for the first time in 7 years. Even at that bottom there were no $100 condos but you can certainly find them under $10,000 in communities like Century Village. Nothing in Jupiter for those prices.

There was not a property linked to your question but more than likely it was a posting by RealtyTrac who loves to have people sign up for their paid monthly service. A qualified Realtor® will be able to provide you more timely information for free.

If you would like to further discuss your particular situation and put together a game plant to meet your goals please feel free to contact me at your convenience for a complimentary consolation.

Best of luck and if I can offer anything additional please let me know.

Always at Your Service,

Tom Priester e-PRO
"Results Driven Real Estate"

Keller Williams Realty
561 308-0175
0 votes
Annette Law…, Agent, Palm Harbor, FL
Fri Aug 10, 2012
If you are serious about purchasing real estate, you need to use serious tools.
You are certainly aware you will not purchase any real estate for $100!

At the very least you need to verify using Realtor.com
At the very best you need access to the local MLS provided by a local real estate professional.
Aggregate websites are for entertainment purposes and those who like chasing vapors and being entertained by fabricated statistics and property for sale.

Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group, Palm Harbor, FL
0 votes
Greatf, Home Buyer, Jupiter, FL
Fri Aug 10, 2012
thanks for your reply. So if there is no typo, the real amout to own the home should be close to the listing price? like: Transfer Value: $16,500?
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Scott Godzyk, Agent, Manchester, NH
Fri Aug 10, 2012
It could be a typo if only $100, you should click on teh profile for the listing agent and email or call them to ask the correct amount.
0 votes
allan erps,A…, Agent, Pearl River, NY
Fri Aug 10, 2012
Think you may be looking at a typo......
0 votes
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