So, you want to buy a home in S. Florida....... (Port St. Lucie: sales, foreclosure)

[latergator2008]

Originally Posted by TriMT7

What about trying for a non-short sale or non-foreclosure?

The problem with buying a non short sale is the prices are too high. The appraisals come back based on short sales and foreclosures. That is what the banks will lend based on comparisons for any given home. Those sales, due to the lower driven prices of shorts, are priced way too high.

[latergator2008]

Originally Posted by skylinet

I have to ask, are you Williamharman as well??? Seem very similar

Who, what? I'm not William

I contacted you to try one last ditch effort to find a deal on a home as you seemed to have a handle on the area. I read some of your posts. But you did not and would not provide any MLS listings to me. You indicated you knew of some "great deals" in Boynton. Well, I never saw them, so I moved on. I'm not about to beg a realtor for listings. Come on.

[U120]

Buy a clean sale and forget the messy fire sale homes. Even the clean sale prices are off 40-45% here. I did it in July, it can be done.

[skylinet]

Originally Posted by latergator2008

Who, what? I'm not William

I contacted you to try one last ditch effort to find a deal on a home as you seemed to have a handle on the area. I read some of your posts. But you did not and would not provide any MLS listings to me. You indicated you knew of some "great deals" in Boynton. Well, I never saw them, so I moved on. I'm not about to beg a realtor for listings. Come on.

Situation seemed similar to a previous poster. I offered to meet with you most of what I know of was in a gated community and there's no way for to drive by them without a realtor.
Well good luck with whatever you choose to do.

[SKB]

latergator2008, NO, you are the lucky one, the one that is not catching a falling knife and over paying.
You are jumping in to soon, even with what you believe to be "good deals"

We are also sitting on some cash and waiting for the real bottom, we are just looking at some false bottoms right now.
Slow down and sign a year lease, you will be happy you did.

Read the housingbubbleblog and see what I am talking about.
Best of luck

[latergator2008]

Originally Posted by SKB

latergator2008, NO, you are the lucky one, the one that is not catching a falling knife and over paying.
You are jumping in to soon, even with what you believe to be "good deals"

We are also sitting on some cash and waiting for the real bottom, we are just looking at some false bottoms right now.
Slow down and sign a year lease, you will be happy you did.

Read the housingbubbleblog and see what I am talking about.
Best of luck

I was looking at homes that sold 2 years ago for $450-$525 that were selling for $200-$240. I don't know if there might be a little bit more bottom there or not, but it has to be close. Anytime you can buy a home well ender what the builder's actual costs were to build it, you're doing good. I think the bottom is in. Just my opinion.

[TriMT7]

Originally Posted by latergator2008

I was looking at homes that sold 2 years ago for $450-$525 that were selling for $200-$240. I don't know if there might be a little bit more bottom there or not, but it has to be close. Anytime you can buy a home well ender what the builder's actual costs were to build it, you're doing good. I think the bottom is in. Just my opinion.

Indeed, the problem now is not "the bottom" --- it's that any homes that are priced low (and right) are being snapped up left and right.

If homes go too much lower, "normal" buyers will be squeezed out by investors with cash who swooping in and picking up the best deals. Home affordability in many parts of PBC are now "in line" with fundamentals of household incomes.

Let's just hope no hurricanes for the rest of the year, and insurance rates should go down (or at least stabilize) too!

[latergator2008]

Originally Posted by TriMT7

Indeed, the problem now is not "the bottom" --- it's that any homes that are priced low (and right) are being snapped up left and right.

If homes go too much lower, "normal" buyers will be squeezed out by investors with cash who swooping in and picking up the best deals. Home affordability in many parts of PBC are now "in line" with fundamentals of household incomes.

Let's just hope no hurricanes for the rest of the year, and insurance rates should go down (or at least stabilize) too!

Anything concrete block with shutters and proper roof strapping and staples is going to stay intact in almost any storm. Anyone buying a stick stucco home, or home with Concrete block bottom and stucco second floor is a risk.

The homes they are building today, will stand in any storm, unless the owner does not shutter up. Flooding is still an issue in many low areas, but for 90% of the area, it's not a major issue.

The home I missed was 3500 sq ft, built in 2003. My insurance quote was only $1200 with mitigation! Too bad I did not get the home.

[skylinet]

Just wondering SKB how far down do you really think home values will go? Lets assume they drop another 5% on a 250k home like later is looking for that's $12,500. To rent something comparable for a year at say 1500 a month is $18,000. That doesn't seem like good financial advice if you ask me...

Home prices on foreclosures are nearing 100 a square foot in many areas, like later mentioned you can't build a house for anywhere near that. Many of these are actually nice livable homes too.

Sure there is a chance homes will go down a bit, but if you are actually living in them and not flipping them you should easily be able to make up any loss (if any).

When your crystal ball tells you that we are at the "real bottom" please let us all know. If people aren't out buying homes the market will never turn around.

[JBMallory]

sounds like you need a better realtor... stay clear from short sales

buy bank owned foreclosed properties, direct through the listing agent....