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GTS Mark

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#1

Florida Forclosures

03-18-2008, 10:10 PM

Hey guys, we're just doing some initial research into possibly buying a winter home in Florida. Possibly in the Ft Lauderdale/Pompano Beach area or even in the St Pete's/Tampa area...

Does anyone know of any realtors or websites that deal exclusively in foreclosures? We've heard about all these amazing deals going on and thought we would investigate a bit further.

Thanks for any suggestions

DH
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pr0

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#2

03-18-2008, 10:13 PM

shit man good luck with that........a lot of good deals to be cleaned up off the street no doubt

i had a guy down there but he recently lost his license lol

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#3

03-18-2008, 10:17 PM

Originally posted by pr0

shit man good luck with that........a lot of good deals to be cleaned up off the street no doubt

i had a guy down there but he recently lost his license lol

Hehe thanks dude, it's been a tough Canadian winter for us up here and man do I wish I had a fun in the sun place I could retreat to... I do have a condo in Pt Vallarta but it's a bit far and for the price of the flights I might as well do an all inclusive

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#4

03-18-2008, 10:20 PM

when dont you call agents in that the area you want and tell them your looking for foreclosures? Be careful,my friend does real estate and said foreclosures tend to be beat to shit.
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GTS Mark

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#5

03-18-2008, 10:22 PM

Originally posted by tony404

when dont you call agents in that the area you want and tell them your looking for foreclosures? Be careful,my friend does real estate and said foreclosures tend to be beat to shit.

Actually a friend of mine recommended I do the same thing (call down to a local agent).

It doesn't have to necessarily be a forclosure I am really looking for a great deal.
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pr0

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#6

03-18-2008, 10:23 PM

Originally posted by tony404

when dont you call agents in that the area you want and tell them your looking for foreclosures? Be careful,my friend does real estate and said foreclosures tend to be beat to shit.

and seo guys say theres no $ in seo.....and pimps say theres no $ in pimpin

cmon tony ; )

not everyone pulls out the copper pipe when they get foreclosed on....but hey maybe they do in GA...there were some nasty people i knew living down there

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JFK

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#7

03-18-2008, 10:25 PM

Originally posted by DrinkingHARDEST

Actually a friend of mine recommended I do the same thing (call down to a local agent).

It doesn't have to necessarily be a forclosure I am really looking for a great deal.

I would wait another 6-8 months there are a lot of sites out there that peddle forclosures,forclosre lists, BUT you have to sign up for them, they charge monthly

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#8

03-18-2008, 10:34 PM

Originally posted by pr0

and seo guys say theres no $ in seo.....and pimps say theres no $ in pimpin

cmon tony ; )

not everyone pulls out the copper pipe when they get foreclosed on....but hey maybe they do in GA...there were some nasty people i knew living down there

my friend was telling me, people take all kinds of shit out.then if it sits and people know its empty. besides the givens like appliances,light fixtures are gone kitchen cabinets etc. it can be a mess.
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#9

03-18-2008, 10:51 PM

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#10

03-18-2008, 10:54 PM

fly down there, walk down some of the best lower-upper class neighborhoods, im sure you'll see quite few places
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#11

03-18-2008, 11:28 PM

I live in central Florida and picked up a pre-foreclosure through a "short sale" (bank takes a hit to move the property) in January. I want to buy a couple more but forecasts are predicting even more drops in value in the next 6-9 months. Just FYI, the market sucks so damn bad here, almost all realtors have been forced to become short-sale and foreclosure experts. Those are the only types of sales occuring in this market.

By the time a home has been taken by the mortgage holder (usually 3 missed monthly payments plus another 7+ months waiting for a foreclosure hearing) then listed as a bank owned property, yeah.....they're not too pretty. So rather than add to their huge inventory, banks are pushing short sales harder than ever. Just contact a realtor in that area and say you're interested in short sale properties. You basically throw an offer out on the table regardless of what the seller owes, and the bank says yes or no. I've heard of banks taking 50% of a home's appraised value just to avoid a lengthy and expensive foreclosure process. Good thing about this type of sale is, the homes are still in good condition.

Last edited by RadiantX; 03-18-2008, 11:29 PM.
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JFK

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#12

03-18-2008, 11:47 PM

Originally posted by RadiantX

I live in central Florida and picked up a pre-foreclosure through a "short sale" (bank takes a hit to move the property) in January. I want to buy a couple more but forecasts are predicting even more drops in value in the next 6-9 months. Just FYI, the market sucks so damn bad here, almost all realtors have been forced to become short-sale and foreclosure experts. Those are the only types of sales occuring in this market.

By the time a home has been taken by the mortgage holder (usually 3 missed monthly payments plus another 7+ months waiting for a foreclosure hearing) then listed as a bank owned property, yeah.....they're not too pretty. So rather than add to their huge inventory, banks are pushing short sales harder than ever. Just contact a realtor in that area and say you're interested in short sale properties. You basically throw an offer out on the table regardless of what the seller owes, and the bank says yes or no. I've heard of banks taking 50% of a home's appraised value just to avoid a lengthy and expensive foreclosure process. Good thing about this type of sale is, the homes are still in good condition.

my gut feeling is 6-8 months as well

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#13

03-19-2008, 02:49 AM

Originally posted by JFK

I would wait another 6-8 months there are a lot of sites out there that peddle forclosures,forclosre lists, BUT you have to sign up for them, they charge monthly

Great advice we have not hit bottom yet.
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#14

03-19-2008, 03:28 AM

Originally posted by tony404

my friend was telling me, people take all kinds of shit out.then if it sits and people know its empty. besides the givens like appliances,light fixtures are gone kitchen cabinets etc. it can be a mess.

That is good. Better start with all new stuff you choose yourself.
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#15

03-19-2008, 04:06 AM

I just sold and bought a new house in Tampa. Spent an intense 2 weeks looking at properties ... lot of shit on the market, and I mean shit ... when we found a good house in a good neighborhood, we bought it without negotiating on the price. The houses in good condition are going quick ... good luck.

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#16

03-19-2008, 05:41 AM

DH, I live in West Palm, I have a few friends that are realtors. Hit me up on icq if you want their info.

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#17

03-19-2008, 05:44 AM

Better to come down and visit. I dont think I have went down a street in that area without seeing atleast a couple houses with 4 sale signs. Its insane.

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#18

03-19-2008, 06:07 AM

Countrywide has a big list on their site

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#19

03-19-2008, 06:13 AM

Originally posted by ADL Eddie

Countrywide has a big list on their site

I thought Countrywide was having financial problems.
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#20

03-19-2008, 06:20 AM

Look for estate sales also ..... Old people with little or no mortgage die, heirs from the north inherit and are anxious to sell a house that to them is free money.
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#21

03-19-2008, 06:44 AM

Originally posted by SuzzyQ

I thought Countrywide was having financial problems.

That was the joke.
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#22

03-19-2008, 07:55 AM

Originally posted by CS-Jay

DH, I live in West Palm, I have a few friends that are realtors. Hit me up on icq if you want their info.

Awesome will do Jay!
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#23

03-19-2008, 08:12 AM

http://www.condovultures.com/
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#24

03-19-2008, 08:59 AM

Naples is also a nice place, but can get quite pricey near the water.

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#25

03-19-2008, 09:04 AM

Yes try to do short sales.. but you have to be on the ball or the realitor will try to fuck you.

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#26

03-19-2008, 09:49 AM

That's a great idea. Are you looking for a house or condo? What are prices like right now. Are we talking less than $300k for a decent place?
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#27

03-19-2008, 09:58 AM

Call the local banks. Ask for the "REO" department. REO=Real Estate Owned

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#28

03-19-2008, 10:30 AM

I have mine up for sale, west Ft Lauderdale

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#29

03-19-2008, 10:52 AM

http://www.miamicondoinvestments.com/

This blog has a list of some short sales around the miami area as well as general real estate news for Miami. If your looking for a 2nd home I think Miami is your best bet.
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#30

03-19-2008, 11:12 AM

DH I know an excellent real estate duo that knows Ft Lauderdale better than any other realtors I have met (I am a native).
Lemme know if you want their name contact
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#31

03-19-2008, 11:57 AM

Originally posted by deniska

http://www.miamicondoinvestments.com/

This blog has a list of some short sales around the miami area as well as general real estate news for Miami. If your looking for a 2nd home I think Miami is your best bet.

that link is great, it will be even more great when half the shit downtown is completed and prices will drop even more.
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#32

03-19-2008, 11:59 AM

you know who to ask

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#33

03-19-2008, 01:19 PM

It all depends on how badly the bank wants out. My parents bought a foreclosure home (here in GA even!) and the bank not only made sure it was in good shape, they completely repainted the interior and put down new carpet.

Banks do NOT want to own homes. I agree with those who said get a bank contact.
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