Was 2.9 Million Sold 1.4 Million Home is in Pre-foreclosure Seller debt was $850.00 Sold $427,000
Joe Kendall, Realtor with Sandals Realty a Waterfront and Foreclosure Specialist writes, The real estate foreclosure market in southwest Florida has hit the luxury waterfront housing market as well. The real estate market has always been about Supply and Demand which had driven prices up in southwest Florida from 2003 through 2005 when supply was low and the demand was high.
Well the current supply of Bank Owned Property and Bank Short Sales has driven the prices of luxury waterfront property way below what anybody dreamed would happen here in southwest Florida. Sellers that need to sell for one reason or another have to be competitive in price with all the bank short sales and foreclosures or sit on the side line until the current inventory has been reduced and the prices start to rise again.
Another factor that comes into play is Timing! Buying and selling real estate is all about Timing and right at the start of Hurricane Season can be a great time to leverage your purchase contract with a quick closing to " apply pressure " toward a seller to take a lower price deal then what they where expecting to close on the sale of the home that may not have complete insurance coverage during Hurricane Season.
When I am out showing clients gulf access waterfront propety like the ones seen here. The Buyers are just amazed at what your money will buy here in southwest Florida! I invite you to compare prices in West Palm Beach, Miami , or even Tampa Bay and see how home prices there stack up to the value here in southwest Florida !
Just because it is a big luxury home, dose not mean that the seller could be in a hardship, and making a reasonable offer to the seller just might say, it's "Time to Go" because I don't know when the next offer might come? Now is the time to be in the market to purchase a waterfront dream home, you can call your very own "Piece of Paradise!"
I look forward to working with you !
Joe Kendalll, Realtor Sandals Realty
Waterfront & Foreclosure Specialist
Phone 239-560-0726 Fax 239-236-0422
Discover Southwest Florida www.ViewSwFlorida.com
Search Homes in Southwest Florida www.JoeKendall.listingbook.com
Read Joe's Real Estate Blog www.SwFloridaRealtorsBlog.com
Joe Kendall, Broker Associate
Right Choice Realty
Phone 239-560-0726
Email joek4realestate@aol.com
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