Strategy for the housing rebound...

The biggest chunk of bank-owned foreclosures have been among the least expensive properties. Cash rich investors are competing with first time home buyers to create price stabilization and in many cases multiple offers on any given property.

Our best advice is to be well prepared.

Preapproval from a bank is essential for an offer and in many cases cash is the only way to go. Proof of funds for the purchase price must be in hand as most offers are submitted the day the property comes on the market. There is only on chance for you to submit your "highest and best" offer and the frustration of many buyers is losing out on a property for only a small amount.

Do not expect any discounts on these bank-owned foreclosure properties due to such a high demand for these properties. The bottom of the market is NOW.

Summer's Hot Deals

The interest in South Florida real estate has greatly increased and inventory is flying off the market. Bargain hunters, many armed with cash in hand are snapping up the best located homes and condos at steeply discounted prices. Most of these properties sell in a matter of days with multiple offers on each, often selling for above list price. Competition for these properties is great and being prepared is your best chance of getting a deal! Being pre-qualified for financing or providing proof of funds if paying cash is a necessity in this market.

If there ever was a sign that the bottom has been reached it's now...the time to act is now.

Picture yourself on the beach...

Not just lying there but living on the ocean! Record price drops on oceanfront properties from Miami Beach to Palm Beach make that dream a realty. Prices start under $200,000 for oceanfront condos and there are more choices than ever.

Stop dreaming and dive right in...the water's just fine.

The right time to pull the trigger...

Inventory has declined almost 10% recently. Due to such steep discounts in home prices and low interest rates, buyers who had been waiting on the sidelines to purchase are jumping into the marketplace. With some properties so "affordable" the pool of buyers now find themselves in a multiple bidding scenarios not seen since the "boom years" of the real estate market.

That is truly a sign of a bottom of the market that so many have been looking for. Finally buyers can move forward with confidence of getting in at the right time and the right place.

Timing the Market...

It's difficult to call the "bottom of the market" but it sure must be close. Inventory is declining and home sales are rising.

These price declines allows the real possibility of future profits not in the short term but certainly in the future. Smart investors are returning to the market....these are the beginning signs of a great comeback.

Bargain Hunters Wanted

Warren Buffet in the New York Times recently wrote, “Bad news is an investor’s best friend. It lets you buy a piece of America’s future at a marked down price.”

Southeast Florida has many waterfront foreclosure properties available to you at every level of ownership. From oceanfront condos to magnificent waterfront homes there is something in every price point. Many of these bank-owned properties are being offered for as little as 50¢ on the dollar.

Everyday we are asked, “Do you know of any great foreclosures?”, the answer is yes! Though there are many homes that are bank-owned only a handful are true bargains. Location is still everything, let us point you in the right direction.

Reevaluating your housing needs...

The current state of the housing market is forcing many to evaluate just what is necessary when providing shelter and redefine "living well". Many have had spaces that exceeded their real needs and those spaces came with great costs.

As a new generation of first time home buyers and those who are trading down enter into the market, the wish list for housing focuses on quality, not quantity. Smaller well appointed spaces with less maintenance not only free up more time but also gives piece of mind.

No longer does size matter, it's the quality of life that is the focus.