It seems like it was only last week that I created a list of current bank owned properties in the Key West area. Well, it actually was last week. There have been a couple of changes so I thought it best to update the list. CLICK HERE to see the new list of single family homes.
Some of the houses in the above list have pools or are located on canals. A couple of the houses are really very nice and are priced aggressively to sell. A couple of the houses owned by local banks in Key West may even qualify for bank financing from the seller at competitive rates. So I suggest you look over the list carefully and not dismiss all of the houses as being dogs. That is not the case.
I did not include teh the above list the numerous condos and town homes in Key West, Stock Island, or the areas up to Big Coppitt Key.
There are two commercial properties investors might want to checkout. One is a mixed us building at 824 Duval. CLICK HERE for limited info posted by the listing realtor. I can provide more detailed info for interested buyers.
The second property is a condo project that did not get completed on Stock Island. Again the listing agent has only put limited info on-line. CLICK HERE to review that info. I am quite familiar with the project. I submitted an all cash offer to the bank that ended up owning this property for an amount near the asking price two years ago this month. The shrewd banker turned down my client's cash offer.
I went to the courthouse earlier this week to checkout a couple of files of pending foreclosures. Just before the judge enters and order authorizing the sale, the party seeking the foreclosure (usually the bank) submits an itemized list of all amounts it claims due on the mortgage including principal, interest, attorney fees, costs, appraisal fees, court costs, legal process fees, escrow reserve short falls, etc. The judge reviews the list and typically enters an Order that becomes a Final Judgment that includes those sums and that amount is what is bid by the foreclosing party at the public auction a few weeks later. The bank wants to load up the costs so high as to prevent some other party from buying the property at sale or inhibiting a party who has a right of redemption from exercising that right. I wasn't surprised to see that the practice has not stopped.
I think there is going to be a huge rally right after the election on November 4th. That happens after every Presidential election. But the stress on markets all over the world will be eased when the US elects its new President. If Obama wins I think European markets will soar. The Europeans hate Bush and the Bush policies. I think they see Obama as a leader who deliver all of us from the abyss. If I am right and the election marks the beginning of the end of the bear market, prices will gradually start to rise. Right now prices continue to drop. So I think now is a really opportune time to buy at or near the bottom of the market.
Want to buy now? Please call me, Gary Thomas, 305-766-2642, or e-mail me at kw1101v@aol.com for more information.
Some of the houses in the above list have pools or are located on canals. A couple of the houses are really very nice and are priced aggressively to sell. A couple of the houses owned by local banks in Key West may even qualify for bank financing from the seller at competitive rates. So I suggest you look over the list carefully and not dismiss all of the houses as being dogs. That is not the case.
I did not include teh the above list the numerous condos and town homes in Key West, Stock Island, or the areas up to Big Coppitt Key.
There are two commercial properties investors might want to checkout. One is a mixed us building at 824 Duval. CLICK HERE for limited info posted by the listing realtor. I can provide more detailed info for interested buyers.
The second property is a condo project that did not get completed on Stock Island. Again the listing agent has only put limited info on-line. CLICK HERE to review that info. I am quite familiar with the project. I submitted an all cash offer to the bank that ended up owning this property for an amount near the asking price two years ago this month. The shrewd banker turned down my client's cash offer.
I went to the courthouse earlier this week to checkout a couple of files of pending foreclosures. Just before the judge enters and order authorizing the sale, the party seeking the foreclosure (usually the bank) submits an itemized list of all amounts it claims due on the mortgage including principal, interest, attorney fees, costs, appraisal fees, court costs, legal process fees, escrow reserve short falls, etc. The judge reviews the list and typically enters an Order that becomes a Final Judgment that includes those sums and that amount is what is bid by the foreclosing party at the public auction a few weeks later. The bank wants to load up the costs so high as to prevent some other party from buying the property at sale or inhibiting a party who has a right of redemption from exercising that right. I wasn't surprised to see that the practice has not stopped.
I think there is going to be a huge rally right after the election on November 4th. That happens after every Presidential election. But the stress on markets all over the world will be eased when the US elects its new President. If Obama wins I think European markets will soar. The Europeans hate Bush and the Bush policies. I think they see Obama as a leader who deliver all of us from the abyss. If I am right and the election marks the beginning of the end of the bear market, prices will gradually start to rise. Right now prices continue to drop. So I think now is a really opportune time to buy at or near the bottom of the market.
Want to buy now? Please call me, Gary Thomas, 305-766-2642, or e-mail me at kw1101v@aol.com for more information.
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