Communities in Kissimmee that have REO-bank owned homes for sale

The real estate market in Kissimmee has been super charged by foreclosure homes that become REO or bank owned. Well priced bank owned homes are receiving multiple offers and selling within days of being listed.

Communities/subdivisions where there are bank owned homes listed right now include:

• Windsong
• Venetian Bay Villages
• Poinciana
• Oakwater
• Remington
• Coral Cay Resort
• Flora Ridge Condo
• Mallard Creek
• Woodland Creek
• Isles of Bellalago
• North Shore Village
• Fells Cove

Call me for a complete list of bank owned homes for sale in Kissimmee.

Bank owned foreclosure houses for sale - 3 bedroom, 2 bath

Bank owned foreclosure houses are available throughout Central Florida. Many of these properties are condos or townhomes. For those buyers looking to purchase a minimum 3 bedroom 2 bath home in Central Florida you will be happy to learn there is an ample supply of these types of bank owned foreclosures available. Price ranges depend on the area that you are searching for a home.

• Orange County has 525 foreclosure homes that are at least 3 bedroom and 2 bath for sale right now. Prices are from the low $20k to just over $2 million.
• Seminole County has 144 homes matching the above criteria starting with manufactured homes in the low $20k up to $400,000+.

The bottom line is 3 bedroom 2 bath homes are available and affordable. With the tax credit, and low interest rates encouraging home sales, you should check out the inventory for yourself.

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Banks release 23 Orlando Kissimmee foreclosure properties today

Banks that have had to foreclose on property in the Orlando Kissimmee area released 23 of these properties today. The homes/condos range in price from $18,000 up to $277,500. You can view these homes by contacting me at 407-304-0255.

Newer bank owned properties are being released daily. In order to not miss out on the latest in bank owned foreclosure property, contact me to receive updated lists.

Fixer upper bank owned foreclosure houses are being offered at low prices

Bank owned foreclosure houses are considered by some to be the best deals on the market today. However bank owned foreclosures that are also listed as fixer uppers in need of mechanical and cosmetic repair, the deals can appear to be even better! I say appear because often these lower priced homes will receive multiple offers that exceed the list price creating a much higher sales price. Also in some cases the cost of work that needs to be done in order to make the home livable again makes the purchase price less of a deal.

Low List Prices

But still the list prices are inviting to investors and first time home buyers. For instance in Osceola and Orange County there are over 1200 of these types of homes for sale. Nearly 500 of them have a starting list price under $100,000 and 200 plus are listed below $50,000!

Due Diligence

Buyers will want to exercise caution when making a deal for one of these homes. Make sure you take advantage of every inspection available to you and are comfortable with the costs involved to repair the items in the home that are found defective or damaged.

If you would like a list of available damaged, fixer upper bank owned foreclosures in your area contact me and I will email you a list of houses in your area.


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6 out of 10 homes purchased in Kissimmee were homes that were listed as bank owned

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6 out of 10 homebuyers in Kissimmee purchased a bank owned property

Through June 2009, 6 out of 10 homes purchased in Kissimmee were homes that were listed as bank owned. Homebuyers are selecting bank owned homes because of the competitive prices and faster turn around time when compared to purchasing a house subject to a short sale.

Sales of bank owned homes in the first 6 months of the year compared to the total number of sales for that month in Kissimmee are:

• January sold numbers included 159 bank owned out of 252 total sales - 63%
• February sold numbers included 159 banks owned out of 247 total sales - 64%
• March sold numbers included 243 bank owned out of 367 total sales - 66%
• April sold numbers included 241 bank owned out of 372 total sales - 64%
• May sold numbers included 263 bank owned out of 423 total sales - 62%
• June sold numbers included 275 bank owned out of 447 total sales - 61%

There are currently 375 bank owned property showing as having a pending contract and 263 properties showing as active.

NOTE: “Based on information from MFRMLS for the period (January 2009 through June 2009).”

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Find Deals On REO, Bank Owned and Foreclosed Homes In Your Neighborhood!

STOP! Don’t spend a dime of your hard earned money in order to receive a list of REO, bank owned or foreclosed homes in your city, town or neighborhood. I can and will provide you this information for FREE! That’s right you can receive a current list of available homes without having to pay for the list.

What will the list of homes include?

I will build the list around your criteria. You tell me the maximum price, the size of the home, the exact location, the number of bedrooms, the number of baths, the size of the yard, you name it and the results you will receive will only include homes that match what you have asked for.

How will I receive this list?

I can email you the list, fax you the list, meet you in my office and hand you the list. I can throw you the list but you will need to be fairly close as my throwing arm ain’t what it use to be.

If there is a home on the list I would like to see, am I on my own or will you help?

That is the best part! If you find a home or homes on the list I will make the arrangements to show you these homes. I will also help you arrange financing if needed or help you push your wheel barrel full of cash into the office. But seriously, the goal will be to find you the very best deal, which meets your requirements, passes your inspections and ends up as your new home!

There you go. If you would like to find deals on REO, bank owned or foreclosed homes give me a call, Greg Staker. 407-304-0255.

In the last 3 days over 100 foreclosed homes have been listed for sale in Central Florida

Since June 1st over 1o0 homes that are REO or bank owned have been listed in the MLS. These homes were foreclosed on by the lender and are now being offered for sale and competitive prices. If you are shopping for a foreclosed home and do not want to miss out on the latest listings for your area, you really need to give me a call at 407-304-0255 or contact me to be kept updated.


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Bank owned homes throughout Central Florida are receiving multiple offers

Getting a buyer to buy your home over a bank owned home

Bank owned homes are receiving multiple offers which proves once again there is always a market for the best property at the best price

Bank owned homes throughout Central Florida are receiving multiple offers which is proof once again that the best home at the best price will have no trouble finding a buyer.

Home buyers are competing with each other for the opportunity to purchase one of these select properties and are being encouraged by the lenders to offer their highest and best price and terms. Many times the very best homes will receive multiple offers within days of being placed on the market.

Regular home owners will want to follow the example set by the lenders on pricing if they hope to compete in this market. Buyers will want to make sure they offer their highest and best in order to reduce the risk of being beat out by another offer.

Our staff can assist both buyers and sellers reach their goals. Contact me today for a private consultation.


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How can regular sellers compete with bank owned homes for winning over buyers?

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How can regular sellers compete with bank owned homes for winning over buyers?

Q: We are hearing that the majority of sales happening right now involve bank owned homes. If we decide to list our home, what can we do to make our home more attractive to the buyer?

Bank owned property has basically one thing going for them and that is price. Assuming you are also pricing your home at fair market value, here are 3 tips that could lead to a buyer picking your home over a bank owned home.

1. Enhance. Bank owned homes are more often than not vacant, with no power. Staging your home could provide the edge you need when competing for the same buyer against a bank owned home similarly priced.
   
2. As is. Banks like to offer their homes for sale “as is” and this is a good thing for you. Buyers want to feel confident and secure in their purchase. Negotiating an amicable inspection period and agreeing to repair or replace major repair issues within the home will make your home look extremely attractive to a prospective buyer.
   
3. Respond quickly. One of the biggest complaints and frustrations experienced by buyers and their agents when dealing with bank owned property is the long delays in responses to offers and addendums and the lack of communication. Let the buyers know that you are not constrained by corporate red tape. Let them know that you will respond quickly, in writing, to all offers and counter offers.

Getting a buyer to buy your home over a bank owned home takes getting back to the basic and sound selling decisions, choices and steps that have always been the key to a successful sale. If you would like to discuss additional steps you can take in order to compete with bank owned homes on the market, contact me for a free consultation.

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Multiple offers on a bank owned home

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Q: Why do bank owned property receive multiple offers?

Not all bank owned property receive multiple offers. Just like any house for sale, if the home is priced for sale at or below market value, you can expect there to be many interested buyers wanting to purchase the property, which will lead to multiple offers.

We are finding an increasing number of Central Florida bank owned property receiving multiple offers which indicates the strong motivation of the lenders wishing to move these properties.

Contact me if you would like to receive a free list of bank owned properties for sale in your area.


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What Central Florida city has the most foreclosed homes for sale?

Where do you have the best chances to find an REO/bank-owned home to purchase? Current MLS statistics show that Poinciana's housing inventory has the largest percentage of bank-owned homes for sale at just over 13%. Osceola County leads the way with Kissimmee also in the top 3.

Foreclosure inventory

1. Poinciana 13%
2. Davenport 9.3%
3. Kissimmee 8.9%
4. Deltona 8.5%
5. Orlando 4.7%
6. Sanford 4.4%
7. Altamonte Springs 4.3%
8. Clermont 4.3%
9. Saint Cloud 4.1%
10. Eustis 3.8%
11. Debary 3.7%
12. Windermere 2.6%
13. Deland 2.6%
14. Lake Mary 2.3%
15. Winter Park 1.8%

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- Greg Staker Watson Realty Corp. 407-304-0255

Bank owned homes for sale in St. Cloud

Search for homes

This market update for St. Cloud concerns bank owned and distressed property for sale in St. Cloud Florida this year.

According to the Mid-Florida MLS, there are currently 987 homes for sale. Approximately 21% of this inventory is either bank owned (44), short sales (136) or in foreclosure (32).

So far in 2008, 19% of the homes that have sold in St. Cloud were bank owned homes.


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- Greg Staker, Watson Realty Corp., 407-304-0255

Foreclosure sales increase in Central Florida

Bank owned or foreclosed homes continue to make up a large portion of certain Central Florida housing markets. Recent MLS statistics indicate that in June, homes that were foreclosed on and now being resold by the lender are a major source of business for Realtors.

Reports indicate that Deltona led the way with 45% of the sold inventory being bank owned. Kissimmee followed closely with 39.8% of June sales reported as bank owned and Orlando 19.8%.

Area Realtors are aware of this latest trend and are prospecting lenders in hopes of listing these REO properties. Additional prospecting is centered on locating buyers by holding open foreclosed homes weekly.

The bank owned numbers should continue to rise as foreclosures increase throughout Central Florida.


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- Greg Staker, Watson Realty Corp., 407-304-0255

What do banks know that home sellers do not?

Osceola MLS reports indicate that bank owned (REO) homes are selling at a higher percentage than non-bank owned homes.

When searching for homes that sold in May, I found that 73 of the homes that sold were listed as being bank owned. 73 out of a total inventory of 488 homes listed as being bank owned or approximately 14.9%. In comparison, 146 homes sold in May that were not bank owned. 146 homes out of 5916 non-bank owned property or 2.4%. 14% as compared to 2%

So what do banks know that traditional sellers do not? The simple truth that price is king. Banks understand that the current real estate market does not care how much was paid for the home originally, the bank understands the market does not care how much was owed on the home and the bank understands that the market will not make an exception simply because they would like it to.

A large percentage of traditional home sellers continue to adhere to magical thinking. This magical thinking to often receives support from the listing agent who should have never taken the listing to begin with or who should have been more aggressive with obtaining price reductions. Magical thinking gives the seller false hope that even when faced with the hard facts of supply and demand, they believe their home will beat the odds and a buyer will come along and agree to pay 20, 30 or 40% above market value for their home.

It is not going to happen, as the banks are painfully aware. Price your home correctly and it will sell. If you cannot afford to sell at today’s market value, wait. If you cannot wait then you will need to consider your options that may include short sale, restructuring of your mortgage or deed in lieu. Give me a call to discuss your specific situation.


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- Greg Staker - Watson Realty Corp. - 407-304-0255

What do you call them? Bank owned, REO, Foreclosure?

You call it tomato I call it.... Whatever you call them, the number of bank owned properties for sale in the MLS offer home buyers an alternative to the many short sale properties for sale. REO homes are often easier to purchase than a short sale and are competitively priced.

The MLS shows the following number of foreclosed properties in the selected counties:

407/Osceola
428/Polk
610/Orange

Contact me in order to receive an update, free list of available homes in your area.

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- Greg Staker - Watson Realty Corp. - 407-304-0255