Real Estate Investment Category
Foreclosure in Valrico FL 2200 Square Feet $137,500
April 6th, 2009 Categories: Foreclosures/ Bank Owned, Real Estate Investment, Valrico
As a new service provided here at Diamond Dwellings in Brandon, we are already seeing ways to change our service. First we will be inlcuding the date posted in the body of the blog. Foreclosures are selling quickly right now. For example our previous post still on our site has a contract pending. We are looking at ways to update the video to show that the property is not longer available.
Feedback has been positive on our rating system of “A Real Gem, A Diamond in the Rough and A Lump of Coal” and we will continue to give them a rating, but remember the value of a diamond is in the eye of the beholder.
Today’s property has been on the market, but has been drastically reduced by the lender and that is what caught our eye. This listing began at $169,000 was quickly reduced to $147,000 and now sits at $137,500. For a tour of this home, please take a look at this 6 minute video.
As of this posting 4/6/2009 the following property is still actively listed.
Please enable Javascript and Flash to view this Viddler video.
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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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Brandon Florida Bank Owned Properties- AKA Foreclosures
January 15th, 2009 Categories: First Time Home Buyers, Foreclosures/ Bank Owned, Real Estate Investment
Buying Brandon Area Bank Owned Properties
There is a lot of interest in buying bank owned properties in the Tampa Bay Area these days. A lot of information, some good and some bad, is floating around about the subject. Often the information offered is for sale, with the promise that you can make a lot of money with little effort once you know “the secret formula”. The fact is, you can make money buying foreclosures and short-sales, but that there are no secrets, and to make money does require effort.
What’s an REO?
REO stands for Real Estate Owned. These are properties that have gone through foreclosure and are now owned by the bank or mortgage company. This is not the same as a property up for foreclosure auction. When buying a property during a foreclosure sale, you must pay at least the loan balance plus any interest and other fees accumulated during the foreclosure process. You must also be prepared to pay with cash in hand. And on top of all that, you’ll receive the property 100% “as is”. That could include existing liens and even current occupants that need to be evicted. An REO, by contrast, is a much “cleaner” and attractive transaction. The REO property did not find a buyer during foreclosure auction. The bank now owns it. The bank will see to the removal of tax liens, evict occupants if needed and generally prepare for the issuance of a title insurance policy to the buyer at closing. Do be aware that REO’s may be exempt from normal disclosure requirements. In California, for example, banks are exempt from giving a Transfer Disclosure Statement, a document that normally requires sellers to tell you about any defects they are aware of. Read the rest of this entry »
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Twitter as an Investment?
December 14th, 2008 Categories: Apollo Beach, Bloomingdale, Brandon, FishHawk, Real Estate Investment, Riverhills, Riverview, Valrico
Those of you that are enamored with Twitter and those of you who like a good stock investment tip every once in awhile, take note.
On paper, it seemed like a match made in heaven: A partnership between social networking giant Facebook, in whom Microsoft (MSFT) owns a 1.6% stake, and micro blogging platform Twitter was in the works. Then Evan Williams took over as Twitter’s chief executive in October 2008, and tempting as it was, rebuffed a $500 million offer from Facebook founder Mark Zuckerberg.
Williams had his reasons. The brains behind an earlier web 2.0 darling called Blogger — which allows average Joes to share at will and was sold to Google (GOOG) in 2003. Williams stated that he didn’t think Twitter was ready to be bought out, too much unfinished business.
Twitter and or Facebook may bare watching as an investment; no doubt some big fish, i.e. Microsoft or Google and other huge web related companies are circling. I have always been a believer in investing in companies that produce goods or services that the investor is familiar in. Many of us on ActiveRain are becoming more and more familiar with Twitter and can attest to its potential value, not only as a social networking tool and a micro blogging platform, but also as a potential investment.
Dave Tipton, Broker- Diamond Dwellings Realty
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Is your Brandon Area home getting ready to expire in the MLS?
November 22nd, 2008 Categories: Apollo Beach, Bloomingdale, Brandon, FishHawk, Real Estate Investment, Riverhills, Riverview, Valrico
If your home has been listed in the MLS, and it is getting ready to expire, I would like to make a few suggestions…
- Get a new agent… May I suggest me…
- Set up the new listing to begin the day after the current listing expires…
- Go on a nice vacation for a few days…
- Don’t forward your home phone to your cell phone… and you might consider NOT sending it to voice mail…
Why you ask?
Because it is going to get ugly. Read the rest of this entry »
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