I just helped one of my buyers purchase a home in New Port Richey that sold for $160,000 two years ago for $57,000. It was a bank foreclosure and is just under 1400 square feet, and my client is thrilled!
Last week another one of my buyers purchased a two year old, 1900 square foot, 4 bedroom, 2.5 bath home in Polk County for $75,000. You couldn’t come close to building a home for that. Exceptional values are out there, but you have to be decisive and cash speaks volumes.
Both clients were cash buyers and are extremely pleased. Typically we are seeing that homes like this are getting multiple offers within 48 hours, and that the banks are choosing the cash buyers for less money rather than wait and risk a mortgage denial. This is particularly true in the lower and middle price ranges.
