Oh my - nice house.... (for sale, foreclosure, renting)

[tonyc]

Listed below market value (Versailles) (http://miami.craigslist.org/pbc/reb/1056151358.html - broken link)

All me needs is a job now.

[fauve]

The first year of taxes on that monster, considering it sold for $1,300,000 in 2007, will be around $26,000 if the homeowner claimed an exemption, more if they never filed. If you're truly interested get the address and look it up on bcpa.net Also, keep in mind that since the neighborhood around it are all million dollar homes, the new tax will be comparable becoz foreclosure prices are not being considered part of market value in the property valuations..

[Moderate Guy]

Originally Posted by tonyc

Listed below market value (Versailles) (http://miami.craigslist.org/pbc/reb/1056151358.html - broken link)

All me needs is a job now.

hey tony, buddy, just returning the favor of a little caveat since you guys have been so kind to me in the past about the realities of s. florida.

don't jump at those foreclosure "opportunities." a lot of times you end up in hell and realize it would have been better to pay market up front for a "normal" home, unless your business is buying up foreclosed homes as a living.

just lay low ...and good luck in finding a job!

[tonyc]

Originally Posted by fauve

The first year of taxes on that monster, considering it sold for $1,300,000 in 2007, will be around $26,000 if the homeowner claimed an exemption, more if they never filed. If you're truly interested get the address and look it up on bcpa.net Also, keep in mind that since the neighborhood around it are all million dollar homes, the new tax will be comparable becoz foreclosure prices are not being considered part of market value in the property valuations..

Extremely good point - one of my co-workers sent that link to me. He's planning on retiring to the area next year, and is looking at all options as far as renting vs buying.

I just showed him what you posted, the look on his face was priceless.


Thanks!

[acegolfer]

Originally Posted by Miles

don't jump at those foreclosure "opportunities." a lot of times you end up in hell and realize it would have been better to pay market up front for a "normal" home

Can you elaborate?

[HopToIt]

Wow! Nice house! $1.3 million in 2007 and houses are still stacked on top of eachother. For that kind of price, then or now, I would want more privacy. They have 7.5 ft on each side of the house. That aint much at all, especially in a neighborhood like that one.

[Moderate Guy]

Originally Posted by acegolfer

Can you elaborate?

hi acegolfer..there's a laundry list of potential problems. go in with the blinders off and perhaps forewarned would be forearmed if you must go that route. i prefer to stay away but maybe you or someone else can pull it off well.

see the attached link for starters.

Problems With Bank Foreclosed Homes for Sale — Foreclosed Home Inspection Problems - Popular Mechanics

[HopToIt]

Definitely get an inspection before purchasing.

[acegolfer]

Originally Posted by Miles

hi acegolfer..there's a laundry list of potential problems. go in with the blinders off and perhaps forewarned would be forearmed if you must go that route. i prefer to stay away but maybe you or someone else can pull it off well.

see the attached link for starters.

Problems With Bank Foreclosed Homes for Sale — Foreclosed Home Inspection Problems - Popular Mechanics

Thanks for the infor. Does this also apply to short sales? To what extent? More or less?

[tonyc]

►Foreclosure * Two-Yr Old Townhome * Two-Car Garage * Bike -> Beach (http://miami.craigslist.org/pbc/reb/1045935163.html - broken link)