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LESLIE BARREIRO, REALTOR 
239-218-4542
Specializing in WATERFRONT and PET FRIENDLY real estate in NAPLES, BONITA SPRINGS, ESTERO and FT. MYERS BEACH Florida.
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BUYERS
Florida has an abundance of properties for sale. The real esate explosion of 2004-2006 has left its mark on investors in real estate, and most are either facing foreclosure on properties or eager to sell.
Short sales comprise a large part of the homes and condos for sale in Florida. A short sale is where the owner requests that the bank settle the mortgage debt owed for less than the actual mortgage. A buyer can make an offer on these properties, but the bank must approve and accept the offered price. This can take anywhere from 3-8 months and can be a roller coaster ride for a buyer. Buyer Beware! For the most part, these properties are sold "AS IS" which means neither the seller or the bank will fix any problems that exsist with the property.
Foreclosures are also abundant in the real estate market in Florida. These are probably the best opportunities for buyers looking for a "bargain" priced property. The bank already owns the property and there is no long wait for the bank to approve your offer. Banks usually respond in 24-28 hours during business days. Be prepared to wait to close on these properties.....the banks' title companies are booked solid and closings are backed up. Also, properties will be sold "AS IS" and the bank will not make any repairs. It is very important for a buyer to get a home inspection on these properties.
Mortgage companies and banks have tightened their lending requirements due to poor economic conditions. It is difficult to obtain a loan on condominiums that have a skewed ratio of owner-residents as compared to investor-owners. If the ratios do not meet the banks' or mortgage company requirements, the loan will be denied. Sometimes, this happens just before the closing date. Be prepared to pay cash on condos that do not meet these requirements. Realtors are all too familiar with this scenario, so again, BUYER BEWARE!
First time home buyers have a great incentive of $ 8000.00 towards the purchase of a new home or condo. Again, this is an excellent time for someone looking to purchase their own home. Not only are prices low in Southwest Florida, but money is available to buyers to use to subsidize mortgages.
NEW CONSTRUCTION HOMES and CONDOS are also abundant in this market. Some of the big home builders and developers got caught in the downturn and have a large inventory of unsold homes in developments. Some of these homes and condos have never been lived in, and the builders are offering all kinds of incentives for buyers to BUY!
Interested in researching what is available in Bonita Springs, Ft. Myers, Ft. Myers Beach or Naples Florida?
Leslie Barreiro, Realtor-Salesperson
239-218-4542
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