Florida Homes and Condos for Sale: Those with capital, vision and guts can make money in this real estate market.

Those with capital, vision and guts can make money in this real estate market.

Those with the capital, vision and guts can make money in this real estate market.  Unfortunately many have two of the three components!  In my case, it is the capital.

Today's real estate market in Brevard County, Florida offers excellent opportunities in the re-sale, foreclosure and short sale markets for single family homes and condominiums.  Not all the deals fall into the "distressed property" category.

I had an inquiry a few days ago asking what "distressed properties" really included.  My response (edited, etc)...

"Basically there are two types of distressed sales in this market - short sale and foreclosure.  Foreclosure is sometimes called bank owned or REO (real estate owned).  A short sale is a situation where the probable sale price will be less than the mortgages(s)....Depending on the property, some foreclosures have been "stripped" by the owner before the foreclosure takes place. I have seen appliances, vanities, cabinets, garage door opener, AC units ...you name it removed!  Some foreclosures really are only shells.....Most short sales are still owner occupied.  Short sellers try to maintain the property in good condition because hey want the best price so the lender will sign off on the contract.  This process can take months..... One important thing to keep in mind is that although they are distressed sales - they are not going to give them away.  But they will sell for a discount!

I am not a fortune teller but I do know real estate is cyclical. It will go back up.  And when it does it will be those who had the capital, vision and guts who will likely reap the rewards.

If you are interested in short sales, foreclosures, and other good deals on real estate in Brevard County, Florida, let me know.

Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

www.moving2brevard.com

 

 

 

 

Read my blogs Florida Homes for Sale,  Moving to Brevard County, Florida, and  Brevard County Florida Real Estate Information.

 

4 comments • Gary L Waters PLLC- Broker Associate Realtor® Melbourne Viera Rockledge FL • April 12 2010 10:33AM

Comments

Hi Gary:

You are SO right..

Very tough for someone to have all three elements going right now.

But for those who do, this is a great time to buy!

Posted by Toula Rosebrock -Broker/Sales Associate, Realtor, Lacey Township, Ocean County, (NJ, Diane Turton, Realtors, Forked River, NJ) about 2 years ago

Toula - Thanks. Having all three is a problem for most.

Posted by Gary L Waters PLLC- Broker Associate Realtor® Melbourne Viera Rockledge FL (Century 21 Baytree Realty, 1211 Admiralty Blvd, Rockledge) about 2 years ago

Hi Gary, When I met my broker 14 years ago and I wanted to invest in real estate he told me to do the opposite of what everyone else was doing.  If everyone was buying, then sell, and if everyone was selling then it was time to buy.  He also reminded me that you make your money in real estate when you buy, not when you sell. Words of wisdom.

Posted by Sandy Shores, Broker-Associate Melbourne FL Real Estate M & M Real Estate Inc. (Brevard County Real Estate/ Melbourne & Palm Bay Real Estate) about 2 years ago

Sandy - Excellent advice there. Those who did not run with the crowd did OK. Thanks.

Posted by Gary L Waters PLLC- Broker Associate Realtor® Melbourne Viera Rockledge FL (Century 21 Baytree Realty, 1211 Admiralty Blvd, Rockledge) about 2 years ago

Participate

(optional)
What does the graphic say?