This is an excerpt from a post last year. It is still relevant enough that it bears repeating. With the continuing dearth of inventory, multiple offers are commonplace and buyers need to expect that possibility and respond in the manner that is most effective for their situation. Best to leave emotion and distrust at the door. [from July 2013]____________________________Let's revisit multiple offers. I had an interesting encounter with a buyer last week who thought multiple o
I promised a followup on the Short Sale Negotiators on Acid story. It's almost as crazy as the original story.
The first short sale failed because a greedy first right owner stepped in and screwed up the process after the bank had agreed to $36,000. This was after a 14 month saga of crazy negotiations with Wells Fargo. The listing expired. Amazingly, a new listing agent took the listing two weeks later as a short sale and started all over. Rather than list at the bank's pre
April 2014 was another busy month for real estate in our beach communities. There were 50 closed MLS-listed condos and townhomes in Cocoa Beach and Cape Canaveral in the month. Over 60% of all sales closed for cash. Activity was particularly heavy in the lower price range with over half of all sales closing for $150,000 or less. It's still amazing to me that a condo with two or more bedrooms, a short walk from the beach can be had that cheaply. Sixteen of the under $150,000 s
I'll make this short. Buyers hoping to purchase a condo in Florida shouldn't even consider using a lender if the loan officer handling their loan is not in Florida. The loan on a Florida condo is as much about the condominium association's worthiness (as defined by the lender) as it is about the borrower's credit. Far too often I see very experienced and capable loan officers from other states fail to close a loan because they weren't able to anticipate the hurdles involved w