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Old 08-13-2008, 01:57 PM
 
2 posts, read 5,474 times
Reputation: 10

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I'm from originally from Texas and looking to move to Houston, but I'd love to buy a nice foreclosure in FL.

P.S. I'm also very aware of lemon homes, I plan to actually check them out before hand.
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Old 08-13-2008, 03:03 PM
 
Location: cutler ridge,florida
118 posts, read 220,688 times
Reputation: 26
wut do u mean lemon homes is that when dey aint what is advertised.
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Old 08-13-2008, 07:29 PM
 
Location: Championsgate, Fl
986 posts, read 3,549,915 times
Reputation: 291
Your better of looking at Bank owned homes, simply because foreclosures and shorts oftern have many liens etc attached to them and you would be responsible for paying these to allow for the transfer of title. After all, if a home is in foreclosure, they stopped paying their mortgage, if they arnt paying that you can bet they havent paid their HOA's or Taxes and goodness knows what else. To be honest in this market we are seeing very aggressivly priced homes which are not foreclosures or shorts but are comparable in price to those homes.
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Old 08-13-2008, 08:24 PM
 
Location: South of JAX
140 posts, read 429,545 times
Reputation: 86
+1 on that^ It's all about finding a motivated seller. Most of these banks still haven't got a clue how to get rid of a home in this market while real motivated sellers are dropping there pants.
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Old 08-14-2008, 06:00 AM
 
Location: Groveland, FL
1,299 posts, read 2,579,094 times
Reputation: 1884
I read that Cape Coral has the highest per person foreclosure rate in the state. Maybe that would be a good place to look?
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Old 08-16-2008, 12:27 AM
 
Location: Atlanta,GA
2,685 posts, read 6,422,668 times
Reputation: 1232
Quote:
Originally Posted by poodlestix View Post
I read that Cape Coral has the highest per person foreclosure rate in the state. Maybe that would be a good place to look?

Yes, but is there work in Cape Coral? There are hardly any industries there. You dont want Cape Coral, believe me, you don't. I do believe what you are saying though. I know 5 people that bought houses there, that were trying to flip them....at the wrong time . When everything started to slow down. Some let them go. 2 are renting, with issues from their tenants.

I think when he mentioned lemon homes, he was referring to houses with many issues, houses that need more work than they're worth. I heard horror stories of people purposely destroying their houses that were about to go into foreclosure. You would not believe what some people do. From a friend that works for Bank Of America, I heard they put cement in the toilet bowls (I guess to mess up the plumbing, placed raw fish in the drywall and resealed the walls (smelly house), took the A/C units and upgraded kitchens with them....Total destruction. Some really nasty stories. Dont get any ideas, guys...lol...
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