I recently received two inquiries this past week about two different Sarasota foreclosures, and both happened to be Sarasota luxury homes listed over 1 million. There has been so much press about great deals in foreclosures, "it's a buyer's market", "slashed pricing" etc. etc., that buyers are getting very excited to acquire their own great buy... which is great to see! Obviously, everyone wants a great deal, and YES, it is absolutely an unprecedented time to buy a home due to drastically … [Read more...]
Oct
18
2010
Headache With Sarasota Forelosures May Be Coming
You have to love the banks and Wall Street. (well, not really) First, they get the country caught in this economic mess which has lasted about 5 years so far, (primarily due to greed) (Forrest Gump can explain that much better than I can). ...and now, due to bank's lack-luster handling of paperwork which is even fraudulent in some cases, judges in up to 23 states may be halting the foreclosure process due to the bank's ability to even prove they have the right to foreclose. This is bad … [Read more...]
Oct
18
2010
Sarasota Short Sales | Frequently Asked Questions
1. What is a Short Sale? In a short sale, the lender agrees to settle the debt owed on the property for less than the full amount. “Settled” means that the lender is writing off the debt (which is why you get a 1099 after a short sale for the amount of debt forgiven) and that they are not going to go after you for the money they lost by filing a deficiency judgment in the future. 2. How will I know if I will qualify for a short sale? Give me a call or submit your question to the right. I can … [Read more...]
Oct
18
2010
Sarasota Deal Of The Day in University Place
Here is another super foreclosure deal in Sarasota. This home is located in the gated community of University Place. Learn more about University Place in Sarasota. This home is a 2700+ sq ft, 4 bed, 3 bath plus a bonus room and pool. It was built by Bruce Williams Homes, and is a steal at this price! Like the last deal of the day I highlighted, this one will sell in the next day or so....after all, these are STEALS! If you would like to see this home, act fast and give me a … [Read more...]
Sarasota Bank Owned Condos
Sarasota has some very great buying opportunities right now in bank foreclosed condos. These condos are available today, and are updated daily here on my website. Buying Sarasota Florida condo foreclosures is a great way to find homes with instant equity in the market. Investors, first time home buyers, and 2nd home purchasers alike should take advantage of these specially-priced homes designed for quick sale. Feel free to browse Sarasota condominium foreclosures below, and please do not … [Read more...]
Apr
12
2010
National Foreclosure Stats Outpacing Loan Modifications
Not a great looking graph on the national front. Now, Sarasota was one of the first to feel the pain due to all the speculative buying in the boom, and many industry professionals believe we are already ahead of this curve as far a real estate recovery as well. We experienced more aggressive price reductions in quicker periods of time compared to the national statistics. It was the "Wild West" coast, in 2005, right? Also, Sarasota is rated one of the top places to live in the country, so it … [Read more...]
Mar
25
2009
Interesting Real Estate Market Update from Dave Ramsey
I caught this clip on Fox and wanted to share it. Dave Ramsey discusses the national housing market, and looks at interesting national housing and foreclosure statistics. Despite being barraged with bad news, particularly housing news as of the past three years, there are some interesting postives. The affordabillity index of homes (comparing average income to median home price and current interest rates) indicates that there really has not been a better time to buy in the past 30 … [Read more...]
Feb
03
2009
Short Sales Are About To Get “Shorter”
If you have been following Sarasota real estate in the past couple years, you are probably no stranger to the term "short sale". A Short sale occurs when the seller of a property is attempting to sell the property for a purchase price that is lower than the amount of their mortgage. If the seller receives an offer from a buyer, the seller will ask the bank to accept the contract price and "forgive" or write off the remaining balance owed to the bank. A short sale is different from a … [Read more...]
Jan
11
2009
My Day Showing Sarasota Foreclosure Homes
Yesterday, I met with a first time homebuyer looking to purchase a Sarasota bank foreclosure home in the greater Sarasota area. I wanted to comment on a few observations and thoughts I had during our excursion. If you are currently a renter, or someone who is thinking about an investment property, this may interest you! First, there are some GREAT buys out there right now. Ok, lets preface this....most Sarasota foreclosures need work of some kind. That is to be expected. Usually when … [Read more...]
Sarasota Bank Owned Homes
Sarasota foreclosure homes are great buying opportunities right now. These Sarasota bank owned homes are available today, and are updated daily here on my website. Buying a Sarasota Florida foreclosure is a great way to find homes with instant equity in the market. Investors, first time home buyers, and 2nd home purchasers alike should take advantage of these specially-priced homes designed for quick sale. There is currently a lot of competition for these distressed sales, so it is … [Read more...]
