Despite increases in home prices and a stabilizing housing market, many experts say the foreclosure crisis is far from over. There are investment opportunities throughout the state to purchase foreclosures, pre-foreclosures, short sales, sheriff’s sales and other properties awaiting the fast transactions needed to clear the books. The top 30 cities with such offerings are:
- SOUTH FLORIDA: Miami, Fort Lauderdale, Hollywood, Pompano Beach, West Palm Beach, Miami Beach, Hialeah, Homestead, Boca Raton, Lake Worth, Opa Locka, Boynton Beach
- CENTRAL/SOUTHWEST FLORIDA: Orlando, Tampa, St. Petersburg, Ocala, Sarasota, Ft. Myers, Cape Coral, Lakeland, Clearwater, Riverview, Spring Hill, Naples, Kissimmee, Palm Bay, New Port Richey
- NORTH FLORIDA: Jacksonville, Pensacola, Panama City,
KNOW BEFORE YOU BUY
Buying a foreclosed home is different from buying a typical resale. The property is sold “as is” with little room for negotiation. The buyer will be responsible for repairs and remodeling to flip it, or to make it livable if the property is destined to become a rental. The seller – usually a bank – will require a pre-approval letter from a lender before accepting an offer. Buying a foreclosure is not easy, but the benefits and fantastic pricing are well worth the effort, especially with the help of an agent who knows the ropes and can advise on comparables and timeframes. Since there is usually only one real estate agent involved in these types of transactions, call us – we are experienced in the market.