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Fort Lauderdale Real Estate Deal Of The Week!
Today we kick off a new feature on the Fort Lauderdale Real Estate Blog. Each week we are going to feature a home that we feel is a great deal, an absolute bargain…maybe even a steal! We’ll run the numbers, show you some pictures and maybe add in a little video. We’ll even have a few real estate experts give you their opinion of value and on the deal itself. Then all you have to do is decide if you like it. But don’t wait…these homes will sell fast. Here’s this week’s deal of the week!
This property is offered at a substantially discounted price of $167,900.00Â
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Here is some recent comparable information that we were able to find on the subject property. As you can see, some of the transactions go back as far as 6 months. Some lenders will accept comps that old while some won’t allow comps beyond 3 months. In any event these are shown for your reference only and obviously only a real appraisal can determine actual value at the time of purchase. (whew…hope that was a good enough disclaimer for the suits!)
We think this is a great deal and it is featured because it appears that the buyer of this property will be looking at walking into a property with an equity cushion which is important in a market with declining values.
Each week we are going to have a panel of real estate experts take a look at the deal of the week and give their buy or pass recommendations. It’s our own little version of Mad Money and we’ll have our own real estate Jim Cramer’s..if you will.
This week we have Barry Johnson from Real Estate Radio USA with us to give us his take on this property. Real Estate Radio USA is arguably the top rated real estate talk radio show so I think he knows a thing or two about what is a deal and what isn’t.
Hi Robin, and thanks for having me. I love this deal and I think it absolutely makes sense. Of course, I would need to do a physical inspection, but based on pure numbers, here is my recommendation:
This property is presently priced aggressively. The bank who now owns the property has priced it to move.
At an asking price of $167,900.00 we find this house to be well under comparable homes in the neighborhood based upon the above referenced sales figures in the neighborhood.
I would recommend an opening offer of $160,000.00 with 3% Seller concessions given to the Buyer for closing costs and any improvements that may be needed. This would result in a purchase price nearly 45% below market value.
In this market these are the kinds of deals that we and our listeners salivate over. I think you have a winner here. In fact I may be interested myself! Definitely a “BUY”!
- Barry Johnson
Real Estate Radio USA
Well, you’ve heard what one area expert has to say about this home and what he thinks of the deal, if you’d like to know what I, as a real estate agent in the Fort Lauderdale real estate market thinks about this deal and my overall purchase strategy recommendation then please email me and I will send you information on what I would advise my clients to do regarding the viability of this deal.
There is no fee or cost associated with obtaining my recommendation. Or if you like what you see and would like to commence talks about buying this home, then click the red button below and let’s get things started!
If you have any questions about this property or any other property for sale in the metropolitan Fort Lauderdale area, please feel free to email me or give me a call at 954-709-7461.
MLS Listing
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- Fort Lauderdale Real Estate Mortgage Report & Mortgage Rate Update for the Week Of May 26, 2008
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