Sarasota FL Real Estate, Foreclosure Expert Kathy Marlowe & Associates

The Sarasota/Manatee county market from a Broker's eyes

Sun, 07 Feb 2010 22:23:35 -0800

The way that real estate is now bought and sold has changed so much over the past few years. Buyers now choose from foreclosures and short sales with the seller owned homes being the minority.

Working in the Sarasota/Bradenton real estate market today is like being back in 2005 again with the multiple offers pushing the price over asking and all this within hours of the home being listed. Buyers have to be educated on how to actually get one of these bank owned deals!

The other part of the market is still moving slowly with homes collecting days on the market and price reductions until they are more competitively priced to the foreclosures.

The first time homebuyer is once again having a hard time securing their dream home because there are so many cash buyers in their price range. The cash buyers are second homebuyers that have patiently waited for these prices and our investors are back too!

Short sales are finally moving but not without a lot of grief along the way. The documentation required from the seller is lengthy. The banks are spending so much time with BPO's when they need to just be doing an appraisal. It's still up to six months before you may see the closing. Just to add a little more to the mix buyers should be aware that if the seller files bankruptcy during the short sale process and includes the home in the bankruptcy that home can no longer be sold via short sale.

Recently BOA has countered two different offers on homes by $20,000! The homes are not worth what the bank is asking for them. This forces the seller into foreclosure. I have not had this issue with any other bank.

The new short sale is the homeowner who woke up and realized that their $400,000 home is now only worth $200,000. Their American Dream has now turned into their nightmare. It's like a noose around their necks. They are faced with tough decisions. If they stay in that home how many years will it be before it's worth what they owe on it? If they walk away they ruin their credit and face the possibility of the bank filing a deficiency judgement against them.

Mortgage modifications are nearly non existent. People need help NOW, yesterday! I have heard so many heart wrenching stories that could have been avoided if the banks had listened sooner. We have so many foreclosures that didn't need to be.

The rental market is now quite strong. Just the opposite of where it has been for many years. We've turned homeowners into renter's once again.

This market will continue for some time however in Sarasota/Manatee counties the buyers are here and that is helping to reduce the inventory. However they are realizing that there was a lot more to choose from 12 months ago. Remember no one knows the bottom until it's passed you by...................

Kathy Marlowe
Broker, CRS, e-PRO

77 JACOBS LN, Sarasota FL Home for Sale

Fri, 05 Feb 2010 05:19:34 -0800

This 3 bedroom 2 bath home is loaded with potential!!!

Featuring an open floor plan, original hardwood flooring and newer windows. The garage has been fully enclosed equipped with washer & dryer hookups.

There is a oversized detached workshop situated on the large half acre lot, partially fenced with mature oaks and fruit trees.

No deed restriction and a large side yard with ample room to park your boat, RV and so much more. so bring your boat and/or RV. Great location, just minutes to the interstate, shopping and dining.

Being sold As-Is with right to inspect. The seller is not aware of any defects. Owner financing available with 20% down.

Click here for full details and photos!

Kathy Marlowe
Broker, CRS, e-PRO

SHORT SALE, 11319 28th Street E Circle, Parrish FL

Fri, 05 Feb 2010 05:13:50 -0800

SHORT SALE.

This beautiful home has 4 bedrooms, 2 baths, a 3 car garage and a pool with a lake view. Ceramic tile flooring, solid surface counters, all wood cabinets and a great open floor plan are just a few of the features this home has to offer. Situated on a large lot with mature landscaping.

It is located in a very quiet, family friendly, neighborhood that has only one entrance into the community.

The community features a clubhouse, tennis court, pool, and workout facility. Just 3 miles to Ft. Hamer public boat ramp. The location is convenient to shopping, dining, I-75, St. Pete, Tampa and Sarasota.

Click here for full details and photos!

Kathy Marlowe
Broker, CRS, e-PRO

Short Sale in Palm Aire Country Club

Fri, 05 Feb 2010 04:34:17 -0800

SHORT SALE.

This 3 bedroom 2 bath home features a beautiful atrium and wood burning fireplace. The open floor plan and large bedrooms makes this home desirable.

The oversized lanai is perfect for entertaining or just relaxing. Situated on a large lot with a private fenced in back yard and mature landscaping.

Conveniently located to shopping and dining. Close to I-75, down town Sarasota and the beaches.

Click here for full details and pics!

Kathy Marlowe
Broker, CRS, e-PRO

Sarasota/Manatee County Foreclosure Expert

Thu, 22 May 2008 20:53:50 -0700

There are alot of foreclosures coming on the market everyday. The deals are fantastic and buyers are quickly purchasing these bank owned homes. There are even multiple offers on some of these properties!

A few things to know before you buy your foreclosure property:

1) Get pre-approved from a bank or mortgage broker. The bank will not even look at your offer without a pre-approval letter.

2) Your purchase will be as-is with right to inspect.

3) Verify all homeowner association fees, maintenance fees, CDD fees etc.

These are just a few of the many things a Realtor can assist you with during your purchase of a foreclosure property from a bank.

Do you want to purchase a foreclosure property in Sarasota or Manatee county? Call or email me for the latest list of available properties.

If you are looking for a foreclosure in another area I can help you locate a foreclosure expert to assist you.

This is a great time to grow your real estate portfolio.

Kathy Marlowe
Broker, CRS, e-PRO