Short Sales/Bank Owned: the super-deals?

                              Hot Deals / Drastically Reduced List of the Month

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How low can you go?

Some example? Take this great 3/2 home in the Presidential Area. Paid originally $220.000  I just sold it for $100,000

This renovated 3/2 home near the park and Stevenson Creek. Paid originally $190,000  in 2007 just sold for $117,000

Like most of you, I'm not particularly rich or greedy. I have a house, I bought it to keep it, not in the hope to make a cool million in a few months of appreciation. It's worth basically what it's worth.

But lots of homeowners have houses they now consider "trash" because these did not appreciate how they'd hoped and now they owe more than the home is worth. So, why bother to save it from foreclosure?

In the meantime, you come along shopping for something affordable and look at the same homes: both the owners and their lenders are

hoping not to be the one stuck with it.

They do not regard these properties as

places to sleep, dream and raise families,

but more as losses on their books, and they need to sell them quickly, even if it's for tens of thousands below the present market value. ... and you end up getting them for pennies on the dollar! That is treasure! And we, as Buyers Agents bring these to you.
 

If you are still sitting on the fence waiting for the green light to buy, this may not be the best idea. Bargains are everywhere right now and interest rates are really cheap.

Luckily in 13 years as a journalist, I learned a few things, one of this being that some "news" is really nothing new. It is often already stale news. When every media is over-negative like now, most probably we already reached the bottom. If you are waiting until they say the market is rebounding, it’s a mistake. By the time the media signals the green light, it will be a year too late!
Remember, a bottom does not mean that prices are about to return to the hot days of 2005. That probably won't happen for a few years. It just means that the trend is no longer getting worse, which is a little, but pretty important factor to notice.

NOW offered by the bank at only $688,000 - Over $1,200,000 in mortgages before foreclosure. 3 BR/2BA /2CAR /POOL - Over 2,000 sft. What a deal!!

Another example of great deal: 4 bedroom, 2 bathroom updated home with great custom pool.  Offered at $390,000. Originally paid $595K.

At any rate, you might not be particularly interested in Italian politics, but something happened there that forces me to talk about it. The newly-elected Italian Prime Minister Silvio Berlusconi, a very intelligent (and handsome) business man, decided he needed to do something to really help his people in this very hard financial moment. He found a way that makes our American tax rebate look very pale: he is cancelling completely the Property Tax on the first home.

Considering  that a lot of the people I know, at least in Florida, pay more every month for their property tax escrow than for the mortgage payment; I thought what is happening in Italy is worth mentioning. Strangely, it is a government move that could actually help to solve the housing crisis. Something American politicians should look at.

But since they haven't thought that far yet and they do not particularly think of Italy like anything of political value, other than great pasta and nice women ...

let's go back to our main subject:

for now and many months to come the Bank Owned Property (or REO) is unquestionably the best deal in real estate, and we decided to deal with it in the best possible way: helping you to get them. You will be surprised how low some sellers would let you go.   ;-)

Two kinds of best deals:

1) Foreclosed properties (bank owned homes that the bank really wishes they didn't own, as now they have to maintain it, pay property taxes, cut the lawn, and try to sell it into the same overloaded market in which it probably did not sell for months before foreclosure, so they better sell it really cheap and really fast); or

2) Short Sales (buying for much less than the mortgage owed on it with the lender's approval. The buyer is happy because he gets a bargain, and the bank is pleased to have the situation solved without having to foreclose on it. It also muddies the waters and gives the impression something is being done to solve the crisis). By the way, in case you missed it, CBS News explained it very well HERE;

Buy as soon as you can.  Then buy more.   Do not do so recklessly, however.  Not every discount means a good buy. Be financially responsible and seek the guidance of an experienced real estate agent who can advise you based on current market conditions. Experience in the market is a key factor. 

We personally spend a fair amount of time searching SHORT SALES, Sellers that are motivated, bank-owned, and developer's close-out specials, and we are getting some GREAT Deals for our Buyers.

And now, if you are still with me ...

OUR NEW SELECTION OF SUPER HOT DEALS

Yes, these are real, not teaser advertisement, and as I write this newsletter

they are still available, but most of the ones I had prepared last week

are gone, so if you are interested be fast :-)

DIVORCE SALE (mine) *** OFFICE BUILDING + PARKING LOT IN DOWNTOWN CLEARWATER Free standing, corner lot, office building (+/- 9,400 sft) available for sale. Ground floor renovated with new tile floor, new A/C, high speed internet, huge high impact windows, commercial bathrooms. Zoning is Downtown - occupy as–is, or create retail space, apartments, or build up condos or mixed-use, NO HEIGHT LIMIT. Parking lot included. GREAT INVESTMENT OPPORTUNITY WITH SOLID FUTURE REAL ESTATE APPRECIATION DUE TO LOCATION.  $1,540,000  - Call today 727-488-4825  no obligation. Owners have active Florida Real Estate License Click HERE for more info.

*** BANK OWNED POOL HOME CLEARWATER BEACH ONLY $650,000 *** What a deal!! Bank owned property. 3 BR/2BA Beautiful pool, with tropical garden, gazebo and playset. Exclusive residential area "Carlouel" in North Beach. Over 2,000 sft. Location, location, location!! Call today! 727-488-4825 or E-mail for more info

*** BANK OWNED WATERFRONT POOL HOME ON ISLAND ESTATES ONLY $688,000 *** Over $1,200,000 in mortgages before foreclosure. What a deal!!** Bank owned property. 3 BR/2BA 2CAR Over 2,000 sft.. Location, location, location!! Live the Florida lifestyle in a waterfront property in desirable Island Estates, near Clearwater Beach. On a wide canal with covered boat house, dock. House needs a kitchen. Call today! 727-488-4825 or E-mail for more info

*** 2/2 ON ISLAND ESTATES 8th floor NOW $189,000 *** was $279,000 - LOWEST PRICED 2 BEDROOM CONDO IN DOLPHIN COVE. 8th floor. INCLUDES CARPORT # 11 WHICH IS LOCATED UNDER THE BUILDING. ALL FURNITURE, EXCEPT PERSONAL ITEMS, INCLUDED IN SALE. FURNITURE WAS PURCHASED RECENTLY. NEW BEIGE CARPETING. WATER VIEWS FROM ALL WINDOWS AND SLIDING GLASS DOORS. AMENITIES INCLUDE: LARGE POOL, DOCK, RECREATIONAL ROOM, WELL MANAGED BUILDING. WITHIN WALKING DISTANCE TO CLEARWATER BEACH   Call today 727-461-0400 or E-Mail for more info HERE

** SHORT SALE PALM HARBOR HOME ** Priced to SELL!! Short sale through professional mediator=smoother and faster transaction. Pay this home a fraction of the mortgage owned on it - what a great buy. Paid 260k originally. NOW ONLY $195,000 - Beautiful open floor plan. Lots of light and vaulted ceilings create spacious feel. Hardwood laminate floors in family & living rooms and hall. Separated bedroom plan provides maximum privacy. Large privacy fenced back yard. Beautiful home with great floorplan in waterfront neighborhood of more expensive homes! Great location with easy access to anything Call now 727-461-0400 or Click HERE for more info

** SHORT SALE ** MUST SELL - bring offers. 2,600 pool home ONLY $270,000. Super spacious POOL home on double corner lot in a beautiful area adj. to the Country Club and Downtown Clearwater. Very nicely maintained and decorated. Lots of updates. Great fenced backyard with screened pool, entertainment area, separate garage or workshop. 4 large bedrooms, 3 baths, lots of living space, original beautiful hardwood floors, lots of windows and huge family room with fireplace. Almost 2,600 sft heated. Short-sale (buy it for less than the  aprox $400K mortgage owned on it)- This is the home you have been waiting for - at a fraction of its market value!- Call 727-488-4825 or Click HERE for more info
 

*** SHORT SALE 4BR/2BA/POOL ONLY $399,000*** ISLAND ESTATES Short sell. all offers must be approved by lenders. Well maintained home. Stainless appliances and tile floors. Updated kitchen and bathrooms. Harwood floors in bedrooms. 4 bedroom, 2 bathroom updated home with great custom pool. New windows & kitchen. Very nice landscaping on a corner lot. Split-plan bedroom plan. Must see. Originally paid 585K- Call today 727-461-0400! Click here to receive more info

** SHORT SALE CLEARWATER HOME 3 BR, 2 BA, GARAGE only $170,000** Quiet Suburb Living in the Heart of sought after Greenbrooke estates! This 3 Bedroom, 2 Bath overlooks a Giant Horse Farm, has Boat or RV Parking and along with Formal Living, Dining and Family Room make one feel right at home! This is a deal- make sure you check it out. House needs cosmetic work and it is offered at a fraction of its value. Great opportunity to live in this great subdivision at a much lower price than its value Call today 727-461-0400! Click here to receive more info
 

** SHORT SALE CLEARWATER HOME ** Great residential area adj. Downtown Clearwater Country Club. Beautiful home with new kitchen, all wood or marble floors. Great backyard. formal dining, great living room, 2 bedrooms. Screened Florida room. Move in condition. $200K in loans - Buy at a fraction of value $165,000-  What a deal !! Call today 727-461-0400! Click here to receive more info

**Short Sale -  MUST SELL $180,000 - bring offers! Huge home on two lots in sought after Presidential Area close to downtown and the beaches, for less than half of total mortgage owned on it. Needs work, but great buy for the price for an area of very expensive homes. New a/c throughout the main house. Garage renovated inside and made into office w/ electricity and A/C, can be easily converted back if needed. Separate in law 1BR apartment. Main house 3 BR, 2BA, living room w/fireplace. One bathroom is unfinished, but all plumbing done. Semi-enclosed 400 sq.ft Florida room. Great backyard full of fruit trees and older trees. Must see -727-461-0400 - Click HERE for more info.

*** BANK OWNED HOUSE ONLY $128,000 ***CLEARWATER 3/2/2 HOME - SPACIOUS HOME WITH GLEAMING FLOORS IN THE LIVING AND DINING ROOMS. INTERIOR ALSO FEATURES A HOME OFFICE OR STUDY WITH PRIVATE BATHROOM. PROPERTY DOES NEED TLC AND IS BEING SOLD IN AS-IS CONDITION. Last sold in 2005 for $199,000 - now you are getting a real deal at $133,000 - Call today! 727-488-4825 or E-mail for more info

PRE-CONSTRUCTION INVESTMENT! Still one of the best buy in Clearwater, near Dunedin. 3BR/2.5BA/1 car garage townhomes in the heart of the city from ONLY $148,000. Builder discounted price from $229,000 to sell out fast and move to next project. One of the best builders around—beautiful floorplan. Only $2,500 down. Click HERE for more info.

ONLY $110,000 - RARE 2/2 Condo only 2 miles form downtown Clearwater and the beaches. Great location, close to beaches and shopping! Completely updated ground floor condo has a beautiful view of the 11th hole of the Clearwater Executive Golf Course from the glass enclosed Florida room. Kitchen has been remodeled with oak cabinets and new countertops, stainless steel double sink. All tiled and largest squarefootage in complex. No age restrictions and pets are allowed. Complex is well cared for and the roof has been recently replaced. This building is just steps from the community pool. E-mail for more info and photos or call 727-488-4825

Would you like to check out even more Deals ? Click Here!

HOMES under 200k      CONDOS under 150K     DRASTICALLY REDUCED


Call us for a FREE consultation 727-461-0400 or Sign Up HERE to receive automatic e-mails of all new properties coming on the market. As always, without obligation!

WE'RE HERE TO HELP - Our goal at Village Reality is to help you find good properties, whether you're looking to buy your first home, a home-away-from-home, or an investment or commercial property. We work hard to find good properties that are priced right, and to offer properties that we are proud to present.

Our website, www.ClearwaterPostulate.com , gives you ALL the latest info on downtown Clearwater, our local market, and great real estate deals. Visit our Condo Conversion page, the HOT DEALS page and the MOST POPULAR BUYS page. We update it frequently, so there's always something new to find out.

Yours,

Paola Lombardi - Broker of Village Reality

727-488-4825

Main Office 727-461-0400
Office Fax 727-216-3469

info@ClearwaterPostulate.com