Short sale vs foreclosure

There is amazing national statistics.

Most homeowners, 70 percent nationally, don't even try to short sell their home before it goes in to foreclosure.

In a state such as Florida where more than 50 percent of homeowners are upside down in their home it doesn't make sense.

There are teams such as ours that focus on helping homeowners short sell their home.

The advantage is less of a hit on their credit and possibly negotiating with the lender to get them out of their home without taking a large financial hit or further credit or debt consquences.

We are starting to hear horror stories of people who went in to foreclosure and now the lender has sold their note to a collection agency.

With a short sale we are seeing clients two years later back in the housing market taking advantage of those great prices.

All the best
Greg Owens P.A.
Realtor
Keller Williams On the Water
941.932.6343
greg@teamworksfla.com
www.teamworksfla.com

Foreclosure forlorn

Where Oh Where have those foreclosures.

According to Trendgraphix there is less than a month inventory of foreclosure properties in Sarasota to be exact .9 of a month.

For Manatee there is a one month inventory of foreclosure properties on the market based on closed sales for March.

In reality that means that foreclosure properties are becoming scarce and when they do hit the market they move fast.

Think on some seven or more offers in a day.

When your agent says you need to put in an offer at or above list price on a hot foreclosure they are not kidding you.

All the best
Greg Owens P.A.
Keller Williams On the Water
941.932.6343
greg@teamworksfla.com
www.teamworksfla.com

Deals that appeal

Here are several reasons to keep in touch with Teamworks

We have five developers we represent that we can help you find a new home deal with.

We have a large inventory of short sales and foreclosure homes we can help you find a deal with.

We have equity or conventional sellers we can help you find a deal with.

Our team sold more than 100 homes last year due to our great clients.

We know how to sell homes. We know how to find homes.

We're here to assist you, your family and your friends.

Relax. We'll do the Work.

Greg Owens P.A.
Realtor
Keller Williams On the Water
941.932.6343
greg@teamworksfla.com
www.teamworksfla.com

The foreclosure game

If you are going to play the foreclosure game here are a few ideas that may help you get that investment home or dream home.

One rule a thumb is if a home goes on the market in The Sarasota, Manatee or Charlotte County areas for lets say 30k you want to put an offer in faster than a speeding bullet and offer full price or more.

The reason is every other investor or potential homeowner is waiting for the same home to come on the market.

If you put in a low offer hoping to for a counter you will likely hear something from your agent about you lost out as there were multiple offers.

Another bit of insight a number of lenders stick to their appraisals for the first 90 days the home is on the market.

So if a foreclosure home looks overpriced for the market and is not selling if you wait out the first 90 days.

If you make a very low offer on that home where you think it should be priced the offer will likely be rejected, not countered, rejected.

All the best
Greg Owens P.A.
Realtor
Keller Williams On the Water
941.932.6343
greg@teamworksfla.com
www.teamworksfla.com

Rescue me

Well after years of harping on about the down market.

Pssst. I have news for you it is getting hot out there.

Houses are moving we're talking a 19 percent increase in February.

Yes the median home price fell for Sarasota and Manatee. That is why homes are moving.

With prices down buyers feel better about buying there Florida dream home.

We still have a number of equity or conventional sellers chasing the market down.

Then again for many they are pricing their homes to match the market which means those homes are selling.

We are still going to be in to foreclosures and short sales for the foreseeable future. Which means prices are not going to start moving upward until that inventory is gone.

All the best
Greg Owens P.A.
Realtor
Keller Williams On the Water
941.932.6343
greg@teamworksfla.com
www.teamworksfla.com