If you're looking to get a good deal by buying a Tampa or Sarasota foreclosure, keep in mind that many of the homeowners not only didn't have money for the mortgage, they probably didn't have money for the upkeep of the house either. If you've found a home you're interested in, here's a short checklist to follow even before you decide to contact a home inspector.
Structure
For some Tampa or Sarasota foreclosures, structure is a definite issue. Pay close attention to the following, as they may indicate more severe problems:
Water
Inside Hazards
Many older houses haven't been updated or may not be up to code. Here are some of the more common issues:
If everything else is good, have the house tested for radon, carbon monoxide and lead-based paint.
Although there are many other things to consider when looking to purchase Tampa Bay or Sarasota foreclosure, these three are essential to a healthy living environment. Most importantly, make sure you're an informed buyer.
If you're looking to buy a foreclosed home, I can help. Call me today at (813) 765-1182 or email me at Steve@TheFloridaAuthority.com for more information.
Even with all the homes up for sale, some people just have to have new construction. It's clean, it's new and nobody else has ever lived in it. Understandable, but a word to the wise. If you go for a newly constructed home, bring your real estate agent.
Why, you ask? Isn't there a site agent on hand to help you? Well, yes... and no. Here are a few good reasons why a personal agent, or buyer's agent, is a good idea:
Conflict of Interests
While the builder has an agent on site, that agent is not working in your best interests. Consider, if the site agent got a better deal for you (which takes money out of the builder's hands), would they still have a job? No. However, your own agent is there to make sure you get a good deal and likely has information of the sales price of similar homes and any incentives the builder may be offering.
Being Informed
A builder's agent doesn't have to tell you about the negatives of a deal. They'll push the positives and even sometimes use high-pressure tactics to get you to sign the contract. You need a real estate professional that you know is on your side. We know the drawbacks of the transaction as well as the positives.
Contacts
Agents get around; they go everywhere. As a result, they tend to gather a lot of professional contacts and information. If you're choosing a builder with a bad reputation, your agent should know. Your agent will also have relocation information and contacts from home inspectors to decorators to movers to help you with your move to the new home. Your agent will know if the builder's lender is reputable, and if not, your agent will be able to recommend a highly regarded lender to you. In short, your real estate agent is a rolodex of home buying and selling resources.
If you're looking at new construction in the Greater Tampa or Sarasota areas and need the assistance of a professional real estate broker, I can help. Call me today at (813) 765-1182 or email me at steve@TheFloridaAuthority.com for more information.
Steve Eckhardt, Broker
As a Tampa real estate broker, I get to meet people from all ends of the spectrum: buyers, sellers, renters, etc. I also come across other agents, and it constantly amazes me at the different outlooks surrounding the real estate profession. Many buyers think sellers and real estate agents are out to stiff them. On the opposite side, many sellers think buyers and agents are out to stiff them. Unfortunately, even some agents think both are out to stiff them.
I know they say "it's a dog eat dog world", but if everybody was truly out to stiff everybody else (rather than just get a fair deal), nothing would ever get done. There's a big difference between a good agent and a crummy agent. So, maybe we all need to be reminded of what a good real estate agent really is:
Your agent is your business associate. They are in the business of finding what you need, whether it's a house to buy or a buyer for your house. As a business associate, they look for the best deal for you, because the best deal for you is the best for them.
Your agent is your negotiator. This goes along with the first, but is more in depth. For instance, if you're looking at new construction and the builder has a "buyer's agent", do you really think that agent is there to help you get the best deal? No, they're there to help the builder get the best deal. That's why you have your own agent there - you know they're on your side.
Your agent is your friend. Especially when you're having problems selling your house, you'll have a lot of worries. A good [city] real estate agent will be there to listen to them and either a) relieve your worries or b) be understanding of them.
As real estate agents, we understand that selling a house isn't easy. We understand that buying a house can be stressful. We even understand that you may be stuck in a situation you'd rather not be in, such as during a foreclosure. Good agents aren't just agents; we're good friends.
If you need to sell your home or are looking to buy one, I'd love to help you. Call me today at (813) 765-1182or email me at Steve@TheFloridaAuthority.com.
Steve Eckhardt, Broker
The Greater Tampa Association Of Realtors reported home sales of 1429 units for April of 2009. This number was up from the previous month and is the second highest number of sales recorded since December 2006. Market inventory dropped to 16,127 homes (11.29 months of inventory), the lowest level since October 2007 when there were 20,942 homes for sale in the Tampa Bay area.
We're seeing a good deal of activity in the under $300,000 price range. And while luxury buyers are snapping up some of the bargains above above $1 million, the $500,000 to $1 million range is still very sluggish.
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