What does it take to get your sold in this chaotic Florida Real Estate Market? This is the question Justin has been answering for hundreds of his sellers throughout the state of Florida.. There’s a number of different options & plans a seller can strategically approach to attract a buyer.. According to Justin, “Everyone is looking for a bargain in today’s market.. Many buyers feel they aren’t getting the best deal unless the home has a “Foreclosure” sign in the front yard, or the listing has buzz words like, “Short Sale”, “Pre-Foreclosure”, & “Quick Sale””.. These are all keywords that buyers are looking for when shopping for a home that make them feel they are getting the best possible bargain the market has to offer.. After sitting down with Justin and asking him to share his thoughts on Florida Real Estate, here’s a few points he highlighted..

Buying Short Sales is a Long and Strenuous Process 

Not necessarily.. When buying a short sale, there’s a potential of up to 8-10 weeks before you hear back from the bank on a counteroffer.. Understand, you’re dealing & negotiating with a bank as opposed to an independent seller here, so your offer is in a pile of other offers in the Loss Mitigation Department of the bank is already negotiating.. The bank is swamped with these “hardships”.. After you hear back from the bank, there’s a window of up to 90 days to get the deal to close.. Sit tight and get comfortable if a short sale is your niche buying market.. This could be a long process that is very stressful..

Short Sales & Foreclosures Are Not Necessarily the Best “Bargains”

The Short Sale market buzz could be the next “downfall” of our real estate market.. Rule #1 in short selling  home is to claim a legitimate “hardship” that is so convincing, the bank is willing to take a loss on your loan balance to let you out of the purchase.. We have sellers entering this short sale market that aren’t in a hardship situation, but are just looking for a way to walk away from a bad investment.. This is part of the “glut” in our inventory.. It will take some time to clean up this inventory, but for now, I’m not sure if these are even the best deals in our market.. Most of these sellers paid too much for the property in the first place, so the loss the bank is willing to take on the unit just delivers a home at par (Market Value.. Not sure if there is a market value anymore, but this is not a bargain..)

Where are the Best Bargains & Deals in Sarasota Real Estate?

The real deal and bargain market is still the seller who has owned the property for many years and has enough equity to out price even the discount inventory.. A seller who wants to sell his Longboat Key condo, and has owned this unit for 20+ years has more room to play and negotiate with his/her price than a bank who is swamped with loss after loss contracts being thrown on their desk.. I talk to many sellers who are in this situation and don’t want to compete with the “Short Sale”/“Foreclosure” markets, and have this equity to give you the best bargain on the market. This allows them to sell quickly and move on with their life, creating a win/win for both parties and closing the deal inside of 30 days.. These equity rich sellers are out-pricing the sellers who overpaid for their home in the first place which is all a “Short Sale”/”Foreclosure” seller is.. These equity-rich sellers are bringing the best value to our buyers & it’s these properties my investors are soaking up and being bought for 60-70% of market value..

Speak with Shirley International Realty Inc. for Help and Advice..

I don’t mean to speak too negative about the short sale/foreclosure because there are instances where these sellers are completely distressed situations.. However, I’m not sold on the fact that more of this inventory is doing our buyers any favors.. The process to purchase these homes aren’t clean & can be delayed for 6 months before closing, and banks are swamped with these contracts and are “tightening-up” on the losses they are taking, forcing the homeowner to rethink “Am I in a hardship, or am I just trying to sneak out of a bad purchase?”.. Shirley International Realty Inc. is selling more homes now than we were 3 years ago because we are market leaders in bringing value and equity-based bargains to our buyers.. Give me a call @ 941-448-4872 & speak with Justin Shirley to make sure you buy the best bargain in our Florida Real Estate Market..

Justin Shirley
CEO
Shirley International Realty Inc.
941-448-4872
WWW.TheSarasotaDeed.COM

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