ABC's of Buying Florida Real Estate




Buying a "Builder's "Spec" Home Right Now Could be a Good Deal.

How About Foreclosure Sales in Florida ?

  During the go-go days of real estate over the past few years, many people invested in builders spec homes and condominiums hoping to buy them and then "flip" them before or immediately after closing on their purchase. And for many, that turned out to be a wise investment. Some people bought homes and then re-sold them for a nice profit without ever moving into them.

  But, as Dick Plumb, a well-regarded Sarasota FL real estate expert says, "That was then. This is now. Many of the spec homes that investors purchased in the past year hoping to flip (or re-sell) them are now in or close to foreclosure." These homes are clearly "distress sales" at this point. The buyer just wants to get out from under before those extra monthly payments wreck his or her finances or worse, a foreclosure on the property destroys his or her credit rating.

  A well-known Tampa Realtors says, "in addition to these investor-owned homes, builders themselves are struggling with slow home sales. Many Florida builders are currently offering attractive extra incentives to qualified buyers." The market prices for builders' inventory homes are falling while features are being added to attract potential buyers.

  Foreclosure, pre-foreclosure and builders' inventory homes at below-market prices are putting downward pressure on Sarasota real estate prices of resale homes as well. The downward pressure on prices will not last forever.  If you've ever dreamed of owning real estate, the next few months may be a very attractive time for you to invest before the market begins to recover.

  These homes, in many cases, represent the best opportunity for a savvy buyer who works with a professional Realtor who understands the workings of these builder inventory, foreclosure and pre-foreclosure sales in the Sarasota Florida real estate market. You may want to seek my advice on how you can take advantage of current Sarasota real estate market conditions to get the home of your choice at a "below market" price.

If you're thinking about buying a builder's spec home, you should contact a real estate expert who works with builders.


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