Archive for March, 2009
Complete Rehab of Apollo Beach FL Home Under $100K!
March 31st, 2009 Categories: Apollo Beach, Credit & Financing, Foreclosures/ Bank Owned, Real Estate Investment
The market has started to heat up even further for foreclosures in the last 30 days. And why not? Foreclosures, also known as bank owned property, offer all price values of homes in all kinds of conditions. Diamond Dwellings in East Hillsborough County covering Brandon, Valrico, Riverview, Apollo Beach and surrounding communities such as Lithia has started to rate our reviewed foreclosure discoveries in three categories as follows:
Gem Dwellings: Houses in this category are either in move in condition or close to it. Most likely the buyer will choose to do some interior painting and carpet cleaning, but other than that or some small alterations by preference, these properties are ready for a new resident.
Diamond Dwellings in the Rough: These homes are rated as a good buy based on area comparables, but will require some minor to major repairs. Examples of minor may be some dry wall repair, medium expense could be a new air conditioner and major expense could be a new roof. Some buyers would walk away from these houses, but others would have the vision to repair or update the home with a rehab loan such as the FHA rehab loan.
The final category would be Lump of Coal Dwellings: These homes are still worth considering, but would require careful consideration and due diligence. They are distressed homes that would likely require a buyer that knows what they are getting into and would work with our agents to negotiate a greatly discounted price in order to bring this property into occupancy status. These homes would likely be of more interest to our investor or contractor clients. They will require some major re-construction of the property.
We are introducing our home review with a home in Apollo Beach, Florida. Apollo beach is located southeast of Tampa and only a few miles southwest of Riverview. This home is a little more than 1300 square feet and is a 3 bedroom 2 bathroom home located close to many water activities that include a beach, boat ramps and marinas.
Please take a look at this 6 minute video of this foreclosed property:
This property now has a pending contract effective 4/5/2009
If you would like to take a look at this property please give me a call at 813-653-1241.
Rick Frissell - Diamond Dwellings Realty.
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