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foreclosure daytona: Have We Won At Auction? - 04/22/12 10:26 PM
A few days ago I posted A Night Before Auction.
It is when adrenaline in rushes in your blood and you are getting all excited in anticipation. There was going to be a fight and we knew about it. The reason was that the first mortgage was small, and the judgment was just about $62K on a condo in Royal Atlantic in Daytona Beach Shores, valued at more than $200K. There was a much bigger second mortgage, but in foreclosure second lienholders usually do not have any say.
We checked with the association and they were glad to tell us … (4 comments)
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foreclosure daytona: If I Buy For $1K, How Much Money Can I Make? - 03/02/11 12:56 AM
A GC friend of mine called me and said that he was thinking of taking a small project, where he would fix it and sell. If Tony calls me, things are really not great. He is great guy, very knowledgeable, and very responsible.
He was thinking of something the least expensive as the money is tight. On weekend I pick him and we tour homes in Daytona Beach. The least expensive ones, of course. I immediately notice that he sees homes very differently. He notices details that I would never even think of. Sometimes I feel that he sees the walls … (18 comments)
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foreclosure daytona: Buying Foreclosures... What Does It Mean? - 01/05/11 10:20 PM
When agents talk about buying foreclosures they usually mean REOs. But our customers often do not think of REOs when talking about buying foreclosures. Because there is such thing as selling at foreclosure auctions on the court steps (in our Volusia County it is done inside in a room in the courthouse).
I was reminded about it when I read a good post by Angelina Ogle Q: I want a DEAL...Should I only look at foreclosures?
If you look at it only from the point of view of buying REOs listed on MLS, it would be true. But if we … (26 comments)
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foreclosure daytona: You Wanna Fly? Check the Wings... - 12/11/10 03:01 AM
On a couple occasions at the foreclosure auctions at the court house in Deland I met a good Daytona real estate attorney, who I worked with on a few deals, and whom I well respect.
He is representing a utility company, and he is going to the Auctions on their behalf. Knowing that he is an investor (and that’s how we first met when he financed our Buyer) and a good practicing real estate attorney, I asked him whether he was buying at the auction on his own account.
He smiled and said “no”.
I thought it would be only natural … (10 comments)
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foreclosure daytona: Wanna Make Big Bucks? - 12/10/10 03:05 AM
I posted How To Screw Your Client...Step by Step... yesterday, and today I received a call from a lady. She said that she wanted to ask me a few questions about Foreclosure Auctions at the court steps.
She wanted to know where to go and what to do to start making money. She wanted to be an investor.
I had a bad feeling in my stomach. At this point my best advice could be buying a Florida Lotto ticket.
I told the lady that it was a very risky business, and chances to lose money were very high. It was … (20 comments)
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foreclosure daytona: How To Screw Your Client...Step by Step... - 12/09/10 03:06 AM
Today we arrived to the Foreclosure Auction in Deland, the County Seat, a bit late. The auction has not started yet, but the maximum bids by the Lenders have already been announced, and I needed to know this vital piece of information, as I am with the Buyer’s mandate to buy a penthouse condo in Bella Vista, a gorgeous over 2,400 sf unit on the 11th floor in Daytona Beach Shores if the Lender discounts the price.
Bought for $700K, the unit is under contract, it is a short sale, and there is a second mortgage, which makes short sales tricky. The … (21 comments)
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foreclosure daytona: So Unfortunate...So Common - 07/28/10 12:37 AM
This over 4,000 sf living and 6,000 sf total direct Intracoastal house built in 2002 is scheduled for foreclosure today at the Volusia County courthouse. We notice it from the publication, which is required by law.
Checked MLS, the house has never been on the market. Judgment amount is $1,014,000. Wonderful area of very expensive estate homes on large half-acre lots. The home has a pool and a deck for the boat.
I called a few investors and they showed some degree of interest. I called the owners and spoke to a lady. I asked her why it has never been … (21 comments)
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foreclosure daytona: Terrible Short Sale Turned Perfect Foreclosure - 05/02/10 09:22 PM
Rose was not a loyal client. Others simply called her 'Bitch'. Well, they are entitled to their opinion.
She bought that gorgeous oceanfront unit for just pennies over $200K. It was a phenomenal price at that time. Only two such units on the floor, the rest just regular studios.
The other - smaller unit - we sold to our Maine clients for $350,000 and the Seller did not agree to go a penny lower. The market was already not great, and Rose (name changed) got it for less than half price.
It is an exclusive unit, and she never rented … (2 comments)
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foreclosure daytona: Convenience For Whom? - 02/14/10 10:13 PM
Short sales, loan modifications, foreclosures, bankruptcies.... Very often used words nowadays...
Very much abused words nowadays as well.
While driving I am listening to the attorney hosting a talk show. People call and he answers their questions. Someone asked the attorney about the short sale vs foreclosure, I actually missed the question, but it had something to do with the credit. The attorney answered that for the purposes of obtaining a mortgage there is no difference between short sale and foreclosure, and that you can get a mortgage (under certain conditions) in 2 years.
Really? I thought there was a difference … (10 comments)
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foreclosure daytona: Daytona Shoreline Hotel Tycoons File for Chapter 11 - 09/18/08 12:53 AM
The article titled "Daytona Shoreline Hotel Tycoons File for Chapter 11" was published in Orlando Sentinel September 13. This is the latest bad news in the saga of the slow real estate market. This time it hit the developers of many hotels in the area, inlcuding The Plaza Resort & Spa.
Charles Bray & Joseph Gillespie came to Daytona Beach area in 1998, at the time of a slow market like today's, but they had a vision and grandiose plans. Actually nobody else had a vision like they had for Daytona Beach oceanfront. They drove the beach, and Atlantic Ave then … (12 comments)
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Jon Zolsky, your Daytona Beach, Florida connection
Daytona Beach,
FL
More about me…
Jon Zolsky, Daytona Beach, FL. FunCoast Realty, 386-405-4408
Address: 313 S Atlantic Ave., Suite A, Daytona Beach, FL, 32118
Office Phone: (386) 255-5355
Cell Phone: (386) 405-4408
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