Florida Foreclosed Homes

Florida Foreclosed Homes

There has been so much talk recently about foreclosure homes that I decided to write a lengthy page on my main Daytona Beach Real Estate site. Daytona foreclosures and surrounding communities are at a very high level. Much of this was fueled by easy credit and speculation over the past few years. I am concerned that some people are seeing big dollar signs when they hear about foreclosures.

While there are opportunities to buy Daytona homes below market, you need to be very careful. Many of these homes offered are in very bad shape. Fixtures and appliances are gone and some homes are completely trashed. You need to be very careful to perform due diligence by checking the property and assuring you are not buying a money pit. Also check liens against the property.

There are different phases where you can purchase a distressed property. Pre-foreclosure can be purchase below market using short sales. Once the foreclosure has occurred you may be able to buy the home at auction, or from the bank or owner of record. At this point the foreclosed home will probably be listed in the Daytona MLS listings.

If you have not bought a foreclosed home or distressed property in the past, please be very careful. Call me or another real estate professional for guidance, and more importantly – protection. Believe it or not, this market is filled with sharks looking to take advantage of the unprepared. Florida foreclosed homes have become a new opportunity for the less than honest.

Consider all your options. New home builders are offering some great deals, and some area sellers are very motivated. I can help you understand where you could save some money without significant downside. You can begin your search by checking out my easy Daytona Beach Real Estate search page.

To get the full story, read more at Daytona Beach Foreclosed Homes.

Comments

  1. You are indeed correct that in today’s foreclosure market that having a realtor has never been more important. They can best advise and guide you thru the process.

    The properties most are in some poor state of repair and need cosmetic and appliances and yardwork and others may have more expensive needs and not being maintained water leaks (new roof) broken window (replace glass). Having an inspection of the property is important to see what it will take to fix it. Most foreclosures are “as is” condition.

  2. Many people are choosing to go new construction after looking at the work involved in many foreclosures and find the new construction at a reduced rate and offers a warranty a better value.

    Many who have the skills to renovate are embracing the challenge buying foreclosed houses and renovating them.

    There is right now a little of everything to choose from.

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