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 8359 Stringfellow Road Saint James City, FL 33956 USA Private Fax: 786-524-5747 |
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FORECLOSURES AND SHORT
SALES Click Here for Property Lists Florida, like most of America, is experiencing a high number of foreclosures. Unfortunately, many investors and even just regular home owners bought into exotic mortgage products with low initial 'teaser' rates. Even more unfortunate, is that many of these folks either didn't understand the mechanics of how their mortgages worked, especially with regard to the recalculating of the mortgage payment once the teaser rate expired. Once these loans adjusted, the minimum payments sometimes doubled or even tripled and led to financial difficulties and in many cases, foreclosure and bankruptcy. There is presently an epidemic of these situations and banks are foreclosing on a record number of homes every month. Banks are in the business of lending money, not in the business of owning and maintaining real estate, and given the ever increasing inventory of repossessed homes, many banks are anxious to liquidate these properties - even if it means taking a huge loss and selling the property for less than the present mortgage balance. This process is called a 'short sale'. Short Sales and Foreclosures are a regular part of the Florida real estate market presently, and we're finding some amazing deals. For example, one of our customers is negotiating the purchase of a one-bedroom/one-bath luxury oceanfront condominium in Hollywood Beach. The condo is located in a newly renovated building with fantastic amenities. It has amazing ocean and intracoastal views, new tile, new kitchen cabinets, granite counters, and more. The original owner paid $405,000 for the condo in April of 2006. The bank had the property on the market as a short sale for a mere $199,000. The tax value alone on the property is over $340,000! Needless to say, this represents a great opportunity for this particular buyer. Granted, the buyer plans to live in the property for a few years, wait for the market to trend upward again and then sell for a profit. The buyer could just as easily rent out the condo to offset most of the expenses and flip it along the way. Please don't misunderstand, we're not suggesting that you should be buying and flipping properties in this market. While there are certainly situations where this is possible and makes good business sense, the flipping craze was responsible for a lot of these foreclosures in the first place. If you're not a seasoned investor with plenty of capital to play the market, you shouldn't be risking your life savings on a 'maybe' in this market. However, if you've got some investment capital, some patience, and a good plan, now is certainly an excellent time to buy in Florida. We haven't seen a Buyer's Market like this since the early 1980s. Here's just a sampling of some of the short sales and foreclosures presently available, of course, inventory is subject to change literally on a hour-by-hour basis as investors pick up these bargains: As of 03/12/08, there were 44 Short Sales of waterfront condominiums just in Hollywood, Florida's 33019 zip code listed for sale!
Ocean Acess Waterfront Homes
Please Contact Us Today for More Information about Short Sales and Foreclosures in South Florida
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Realtor Contact Information: Jelena Panfilova Branon A. Edwards, e-PRO Licensed Florida Realtor® Jelena Direct: 786-417-4911 Jelena@InvestFloridaRealty.com Branon Direct: 786-417-4910 Branon@InvestFloridaRealty.com Private Fax: 786-524-5747 |
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Contact Information: Aqualand Realty, Inc 8359 Stringfellow Road Saint James City, FL 33956 USA Fax: 786-524-5747 Thank you for the opportunity to EARN your business. |
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Multiple Listing Service Houses for Sale in Florida Condos for Sale in Florida Land for Sale in Florida Branon A. Edwards and Jelena Panfilova are licensed Florida real estate agents with Aqualand Realty, Inc with a primary office located on Stringfellow Road in Saint James City, Florida. We specialize in waterfront, luxury, and investment properties - Miami Real Estate, Miami Beach Real Estate, Key Biscayne Real Estate, Aventura Real Estate, Sunny Isles Beach Real Estate, Golden Beach Real Estate, North Miami Beach Real Estate, Hallandale Beach Real Estate, Miami Shores Real Estate, the Miami Design District Real Estate, Miami Arts District Real Estate, Biscayne Corridor Real Estate, and select neighborhoods like Bay Point, Di Lido Island, San Marino Island, San Marco Island, Rivo Alto, Miami Shores, and North Bay Village. We also focus on preconstruction investments such as new luxury highrise condominiums and other new construction. Disclaimer: The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service. Although the information is believed to be accurate, it is not warranted, and you should not rely upon it without personal verification. |