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House for Sale in Sought-After Area!


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#1 West Coast Girl

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Posted 23 July 2007 - 09:34 PM

Hi there,

I have a lead on a house that is for sale. It is in Ft. Meyers, Florida (Alva, Florida 33920 to be exact) (Lee County).

It is 3/2/3 Pool & Spa on 1 acre

They want to sell ASAP.

They bought it in 2005 for $388,00; it is appraised at $404,000. However, they are willing to accept offers significantly less, like $330,00 or lower. This is a cash sale only. They are not interested in a L/O.

If you are interested or know of someone who would be and would like more details on this beautiful property that is located in a private setting, but not gated community, that has a pool and spa and sits on 1 acre of land, then please send me an e-mail and I will give you the name and number of a contact person to that you can speak with them directly.

Cheers,

Jean

westcoastgirl07@hotmail.com

P.S. Michael C., Rexford, interested????

#2 MichaelC

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Posted 24 July 2007 - 04:12 AM

Hello, Jean. I'm not familiar with the specifics of the Ft. Myers area market. But in general, we are getting hit hard here, and I don't think we've seen a bottom yet. If that appraisal is recent and legit, most investors won't even consider a cash offer for more than $250K. . .and that would be considered generous. We need to get in at rock bottom prices because buy and hold down here is a losing proposition. The cost of property taxes and, especially, homeowners insurance, make cash flow all but impossible. So unless the property can be flipped immediately, it doesn't attract attention from investors. And in this market that means buying. . .
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#3 West Coast Girl

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Posted 24 July 2007 - 02:14 PM

Hello, Jean. I'm not familiar with the specifics of the Ft. Myers area market. But in general, we are getting hit hard here, and I don't think we've seen a bottom yet. If that appraisal is recent and legit, most investors won't even consider a cash offer for more than $250K. . .and that would be considered generous. We need to get in at rock bottom prices because buy and hold down here is a losing proposition. The cost of property taxes and, especially, homeowners insurance, make cash flow all but impossible. So unless the property can be flipped immediately, it doesn't attract attention from investors. And in this market that means buying. . .
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Hi Michael,

Thanks for your reply. Unfortunately, I thought that this is what you would have said. It seems to be really bad almost everywhere these days.

RE is NOT easy even in a bad market, like one had thought. Sure you can find the "Motivated" Sellers NOW, but now you have to struggle and find the Motivated Buyers!

It seems if we're not dealing with issues on one side of the fence we are dealing with them on the other side of the fence!

What are Investors (starving ones at that) to do??

What are Homeowners to do???




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