R. Lance Mohr

Are you looking to invest in Seven Oaks homes for sale in Tampa's fabulous Wesley Chapel community?  If you are looking to invest in property and you like making bets outside of a casino, preconstruction real estate may be a good idea.  As a professional real estate expert specializing in properties in the Tampa area, I know about all the creative ways to be profitable within the real estate investment arena.  The risks of buying a preconstruction property may be risky, but there is also a huge potential for profitability.

Homes for sale in Seven Oaks are often some of the hottest selling properties you'll find when you compare them to other Tampa communities.  Because of this, many investors will want to get in early on a builder's plans to create homes in Seven Oaks or possibly other areas within Wesley Chapel.  But the key is to remember that buying preconstruction is all speculative and therefore a buyer should be prepared for all the good and bad that could occur.

What a potential buyer would do when investing in preconstruction real estate is to purchase a unit before any construction at all has begun.  The hope is for an investor to get a property at a rock bottom price from the builder by buying in early on in the process.   Once an investor is officially the assigned buyer of a property, that buyer can go looking for a new buyer for the property.  Real estate in Seven Oaks can be done this way as investors look for opportunities to make money in preconstruction real estate.   In the Florida area, where retirement and vacation home purchases and sales abound, a newly built home or condo can change owners many times before actual completion.  Keep in mind it is the person (or persons) who gets involved in a deal the earliest with preconstruction real estate that will often reap the highest return on their investment.

With preconstruction real estate, a buyer is looking to profit off of the realized dream of buying Wesley Chapel real estate or another comparable suburban area.  Of course a builder will always love to pre-sell any of its homes because it looks better to their lenders.  And this is why an investor stands to make such a great profit on selling these homes; the deal they received would be so good that it should be easy to make a profit (remember I said, "should be").

Imagine how good you'll feel if you should purchase a magnificent Seven Oaks homes for sale that you get at a great price and is high demand when completed.  Obviously the goal is to purchase a property that is going to increase in value exponentially.  If the value increases, then an investor stands to make a pretty profit, which is ultimately the goal.  Even when risks are considered, the potential to achieve maximum profits is the biggest reason for looking to Seven Oaks homes for sale that are preconstruction.

Tampa2Enjoy (T2E) provides free resources and expert advice to help clients find the house they want in less time, including Tampa foreclosures. Our growing list of satisfied customers has given T2E’s complete customer experience high marks through testimonials and referrals among friends and associates.

Foreclosure is a process whereby a mortgagee, typically a lender, files a legal injunction to repossess property from defaulted loans, typically due to death, bankruptcy, debt, divorce or loss of income. The current recession has added to this potential avalanche of financial ruin as a result of over-aggressive lending to over-spent consumers faced with higher unemployment and rising prices.

Market volatility and economic hard times have now created a surplus of bank owned homes the market cannot bear, as lenders scramble to reclaim and re-distribute their assets on surer ground. Reuters reported an 81 percent increase in foreclosure activity for 2008. Their willingness to re-sell to a buyer’s market means significant savings for potential homeowners and investors. In most cases, buyers searching for Tampa foreclosures can realize significant savings, ranging from ten to fifty percent less than their market value.

The Tampa real estate market is among the hardest hit by foreclosures and dwindling home equity, but there is hope. Favorable market conditions for home buyers, with 30-year mortgage rates at their lowest in decades, have – at least temporarily – boosted the real estate market with increased sales, as banks and brokers attempt to re-build the dream of home ownership in the United States.

The current administration is committed to stemming the tide of financial losses and foreclosures by stimulating interest rates. Though controversial for its assumed risk to investors, legislation proposed to assist the sale of bank-owned homes in Tampa and other metropolitan areas will surely stimulate an economy that is in dire need of such support.

Securing great deals on foreclosures in Tampa requires a quick response. The resources T2E provides allows clients access to information that aids informed decisions to respond quickly to the city’s most-desirable foreclosure properties, ones that require a slightly different realty approach.

The volatile real estate market has shaken consumer confidence, making expert advice and support more important than ever. T2E’s Real Estate Resource Center gives home buyers seeking Tampa bank owned homes a distinct advantage in making sense of a rapidly-changing housing market. Tips, guidelines, and free reports help clients avoid costly mistakes and wasting time searching for answers. Furthermore, Owner Lance Mohr’s seventeen years of experience in real estate and mortgage lending, combined with over 800 hours of classroom education, ensures the most comprehensive support Tampa buyers and investors can find.

Tampa foreclosures are on the rise and there is no better time to buy. In today’s market it seems as if everyone is looking for a good deal. Home buyers want a good deal and investors want more property to invest in, so the competition is pretty strong also. The driving force is the aspiration to buy something for very little. In reality, they are buying a home for less than market value. What’s more appealing than that? There is probably the likelihood that they have to make repairs on the home. Hopefully it won’t need anything major, like a roof. The point is; it’s a risk they are willing to take when you weigh the pros with the cons. An inspection of the home should always be done to avoid costly repairs that could offset the potential investment. This saves them thousands of dollars.

Make sure that the home is available to be viewed. Sometimes buyers are not allowed to inspect the house before making an offer. The problem with buying a house sight unseen is you can't calculate how much it will cost to improve the structure or bring it up to habitable standards. Nor do you know if the occupant will retaliate and destroy the interior. On top of that, you may need to evict the tenant or owner from the premises after you receive title, and eviction processes can be costly.

In the Tampa Bay market foreclosures are in abundance, but the work that needs to be done to get them in livable condition can tend to be sizable. It’s not always that a house goes into foreclosure and the homeowner continues to live in it and take really good care of it.

The current market conditions make it a perfect time for a small investor to purchase one or more foreclosure properties. During economic downturns, more upscale homes go into foreclosure, so the notion that foreclosure homes are only available in crime-ridden areas is simply not true. Ocean front homes are also available in several areas. So, if you are in the market to make a profit, Tampa foreclosures are the way to go.

James Thorner of the St. Petersburg Times wrote an interesting article in February. He stated, "Fishkind predicts Florida foreclosures will peak this year, then recede as a force of evil in the housing market...By contrast, the much-more-populous Hillsborough County anticipates 40,000 new cases." This may a stark reality of some difficult times, and the word "hurricane" hasn't even been mentioned! It may or may not occur, as it is merely a prediction, but it is important to look on the bright side of situations. There are new companies (Humana) moving into the St. Petersburg area, offering hope to many with 275 new jobs. Houses are actually affordable for those who have been teetering on the fence, waiting for that low, low price. Well, it is here. If you are still on the fence, now is the time. Make the move, because 39,999 Tampa foreclosures is one less than 40,000.

You can also view this post on our Tampa real estate blog.

There are many advertisements for home auctions in the Tampa area. You may be wondering how this works and if you will actually get a better deal than a foreclosure home, short sale or a bank owned home. These types of homes have literally flooded the Tampa real estate market lately and are being sought after by investors and regular buyers. You must know that with these home auctions you are going to have some pretty stiff competition. There are also fewer auctions than the typical home selling avenues such as short sales and bank owned properties.

The other option is a Tampa REO; which is a Real Estate Owned property. REO's are owned by a lender, such as a bank. An unsuccessful sale at a foreclosure auction is the result. This is common because most of the properties up for sale at these auctions are worth less than the total amount owed to the bank. The minimum bid in most foreclosure auctions equals the outstanding loan amount, the accrued interest and any costs associated with the foreclosure sale including attorneys' fees

After an unsuccessful auction, the bank will go through the process of trying to sell the property on its own. It will remove some of the liens and other expenses on the home and try to resell it to the public, either through future auctions or direct marketing through a Realtor. Generally speaking, bank REO properties are in poor shape in terms of repairs and maintenance; however, real estate investors will often go after these properties as banks are not in the business of owning homes and so, in some cases, the low price can more than compensate for the condition of the property.

In summary, either option you choose will get you closer to obtaining your investment goal. The outcome you want is to purchase a property for less than market value and hang on to it until it appreciates. At that point you can re-sell it if you wish, cashing in your investment, or you could simply keep it longer for a larger investment. Either way, if you do your homework you can't go wrong.

Please give our team a call if you have any questions on foreclosures or Tampa REO properties.

You can also view this post at our Tampa real estate blog.