Gulf County & Franklin County Florida Foreclosures, Short Sales & Bank Owned Properties (REO)
A great place to invest in real estate is in foreclosures and bargain residential real estate. Foreclosures are not as prevalent as a few years ago but they are still out there and buyers now have a chance to buy coastal properties that are real bargains.
People are putting their money in an asset that they understand – real estate. The subprime mortgage mess no longer is the result of the foreclosures but many homeowners are still in a crunch and they are looking for a way out. Some of these owners are willing to take a loss and move on.
The current market conditions make it a perfect time for a small investor to purchase one or more foreclosure properties for their private residence, rental or resale. In this difficult economy, more upscale properties are going into foreclosure, so don’t expect just low-end homes. Beachfront and homes in affluent areas are part of the mix of foreclosed properties available. The availability of more desirable properties combined with the reduced interest rates makes this a great time to buy these properties.
Working with a Realtor® who is experienced in foreclosures can make a great difference in your success rate as an investor. To invest successfully in foreclosures, you must know your market, understand the foreclosure process, and be prepared to act quickly. Act quickly but do your homework and rely on a helpful team (Realtor, inspector, closing agent, and attorney).
Look for good value. Let us help you search for properties in Northwest Florida. Check out listings of foreclosures, short sales, bank-owned or REO properties for Florida below.
After the mortgage meltdown in 2008, we had several years where foreclosures and short sales presented excellent buying opportunities. In recent years, however, our real estate market has been extremely stable and there have been very few short sales and foreclosures. That doesn’t mean they don’t still exist but finding the right properties can be like looking for a needle in a haystack.
Short sales may also be an option but can actually take longer to close than a foreclosure. Short sales are anything but short and typically take anywhere from 3-9 months to close. If you have the time and patience, a short sale may be a great way to get an awesome deal at an even better price.
Short sales mean you work with the bank AND the homeowner to come up with a price that works for all. Banks or lenders will sell the property for less than the homeowner owes. Usually, the homes are sold as-is but the homeowner still lives in the property, which usually means they are taking care of it. Although we can’t guarantee the home will be perfect, short sales are usually better kept than foreclosures. A foreclosure could be vacant for some time so there are other issues to deal with.
If you would like to get notified of any future short sales and foreclosures we can notify you when any are available if you will [Click Here]
Since we have so few foreclosures, we suggest that you use the link for all property alerts at [Click Here]
Or if you are only looking at water front homes [Click Here]