Well there are 40 properties in Lake Wales listed for under $65,000, so no idea why you are having a problem unless you are low balling properties listed for $100,000 or more. No seller is interested in that these days.... more
500 credit score, it's highly unlikely. To the agents response, a lender doesn't tell you "how much home you can afford". It's ridicolous that people keep making such statements to those to foolish to understand the amount approved for doesn't mean you can afford it. They are not financial advisors and it's irresponsible to advise them of this. Acting like a used car salesman gives you no more creditability than the sleazy guys on car lots.... more
Good Morning! Most of the homes that are in this price range were homes that were taken back by the bank. IF you are looking for sellers who will hold mortgages they are very few and the amount of down payment you have to put down is really High.... more
Our Brokerage is owned by two investors... To that end, our agents are very comfortable with th types of research required, as well as all the electronic tools required to be successful.
Our investor's needs range from low end, single family properties, up to and including manufactured home parks, apartment complexes, etc.
Would love to discuss working together, as it is very familiar territory for us.
BTW... for the Lake Wales market, we have local, experienced agents in Frostproof, Lake Hamilton, Winter Haven, and Lake Alfred.... more
All offers must include "good faith money", usually 1% of the purchase price. It gets deposited with a Title company. If the offer gets accepted then they hold it until the day of closing. If offer is rejected, then you can use it towards your next offer in another location, you just present the recipt from the Title company where the money is deposited. If you end up not buying anything the money gets returned to you.
That a short-sale says pre-approved only means that the bank has given the seller OK to list the home, not that the price will be accepted by the bank. It will have to say something like "Bank has done appraisal and will accept $$$$$$ as purchase price" for it to be a real number.
More on short-sales and foreclsoures in this 2 links below:
Are short-sales for everyone > http://www.trulia.com/blog/antonio_vega-pacheco/2011/08/when_is_it_safe_to_buy_a_short_sale_what_makes_a_short_sale_bad
Short-sale vs Foreclosure > http://www.trulia.com/blog/antonio_vega-pacheco/2009/12/foreclosure_vs_short-sale_in_simple_terms
Try to find a Buyer's agent to represent you (it is free to the buyer), avoid using the listing agent. Few agents will be willing to show you homes in Orlando and in Vero Beach, they cannot be experts on 2 locations so far away. FInd one agent per region, and let both know ahead of time what your plan is, be honest and get the same in return. It will be nice to at least compensate for gas cost to the one who ends up not getting the deal.
Federal Register 24 CFT Part 100; 760.24-760.37 (4a) â€“ Fla. Statute
Requirements for a community to be considered "housing for older persons":
A: The housing is specifically designed and operated to assist elderly persons and is intended for, and solely occupied by, persons 62 years of age or older
B: The housing is intended and operated for occupancy by persons 55 years of age or older and meet the following requirements:
1.At least 80% of the occupied units are occupied by at least one person 55 years of age or older.
2.The facility or community publishes and adheres to policies and procedures that demonstrate its intent to in fact be a provider of housing for older persons
3.The facility or community complies with rules established by HUD for verification of occupancy... more
To me, the problem is that the term "1 Million Dollar Home" is not appropriate, it's overstated, inflated, wrong and doesn't even apply when the actual purchase price was only $200,000.
Btw, I did not purchase a home.... more
So far in 2010 there have been 22 homes sold in Lake Ashton. Of those 9 were distressed properties. The 22 homes sold for a selling price per square foot at $71.63 to a high of $127.67 (a RV home sold for $163.22 but the RV garage distorts the price). If you remove the distressed homes from the list, the 13 normal sales had a median sales price of $109.34. Location and upgrades played a big part in the price of the home. If you would provide me with your contact information I will e-mail you full listing sheets on each home available here in Lake Ashton. These listing sheets have numerous photos, additional information, and in some cases virtual tours. I also live in Lake Ashton and have a different perspective on this development. I can provide you with additional information and statistics should you so choose. Feel free to contact me at any time.
Michael R Krigelski
A+ Realty and Construction