Sarasota Foreclosures Alert
Submitted by Marc Rasmussen on April 6, 2009 – 7:45 pmOne Comment
Looking for a sweet deal? Want to find a great Sarasota foreclosure? I am getting requests for these types of properties regularly. There are some great opportunities out there.
Sign up for my Sarasota foreclosures alert to receive emails of foreclosures in your mailbox. You will get them the minute they hit the market.
Want to look at foreclosures on your own? Visit my Sarasota foreclosure pages to search yourself. Call me at 941.812.6272 if I can help you find one.
A few things to keep in mind:
- Many wealthy people don’t have mortgages so don’t expect to find a bunch of foreclosures on Casey Key, Longboat Key, Lido Key, Bird Key and Siesta Key.
- They are typically on the lower end of the price scale
- Banks usually price their properties well
- 43% of the Sarasota and Bradenton transactions are foreclosures and short sales
- On average those properties sell for 93% of list price. Don’t expect to get a huge discount from list price
- Banks usually will not entertain an offer unless you have been pre-approved or can show proof of funds. Don’t waste everyone’s time unless you have been pre-approved for a mortgage or can prove that you can the money to buy the property.
Buying a foreclosure can be a great opportunity for a first time homebuyer or a seasoned real estate investor. It’s true that its important to be pre-approved for financing before looking for a property. A lot of people are getting loan modifications and saving their homes now, so there may not be a lot of foreclosures left! Now is a great time to buy