If you're one that loves a "steal of a deal," South Florida's real estate market is ready to love you back.

But, the big catch--and in these economic times, it's a Big Catch--you've got to have all cash. But if you do, you can buy a $50,000 condo in Miami Beach, just 2 blocks from the sand and breaking waves. Keep in mind, this is a condo that previously had sold for $172,000. And, in Miami-Dade, Broward and Palm Beach Counties, there are 6000 of these foreclosed or distressed properties on the market.

"This is pure capitalism. If you don't have all cash, you stand no chance, you're going to get crushed," says Peeter Zalewski of CondoVltures.com.

South Florida, and Miami in particular, represent everything that went wrong in the pre-market crash years prior to 2007. From the 1960s to 2002, Zalewski says 11,500 condos were built. From 2002 to 2007, that inventory tripled, to 34,000 condos. And now that the real estate market continues to sputter, there are a glut of condominiums in the overbuilt cities of Miami, Atlanta, Las Vegas and San Diego, where bulk deals are available, at prices lower that what the developer paid to build.

Angel and Santiago Herrera, of Venezuela, recently spent $7 million to buy 39 downtown Miami units. They quickly flipped 17 for a profit and are renting the rest for the next 3 to 5 years when they then plan to sell each for double what they paid.

"The market has never been so down, so when you're so down, the only place you can go is up," says Angel.

Most of the bulk buying that's been happening is being done by foreign investors, who are seeing great investment opportunity.

And most importantly, they're buying with 100% cash.

When you show your home, you want to engage the buyer emotionally because the decision to buy is based more on emotions, and less on logic. Give the buyer permission to say, "Yes, I want to buy this home," by staging, accentuating your home's positive attributes, and do not draw any attention to the negative aspects.

Besides, there will be plenty of time after the deal is signed to talk about the drawbacks.

1) The Gracious Welcome

Although the buyer is a guest in your home, you want the buyer to imagine owning the home. You don't want to make the buyer feel like an intruder.

* Don't expect the buyer to remove her shoes, unless you are selling to a buyer for whom religious or cultural reasons mandate it. Otherwise, the presumption is insulting.

* Leave the house. The buyer won't talk about the house in front of you or open doors with you standing there.

* Don't pressure or hurry the buyer. Tell the buyer to take all the time that is needed.

* Leave a bowl of wrapped candy or other treats near the front door with a small note thanking the buyer for coming to see your home.

2) Check the Temperature

* Now is not the time to worry about your utility bill. If it's cold enough to wear a sweater to stay warm, turn on the heat.

* If it's warm outside, turn on the air conditioning. It's better to heat or cool the house a degree or two warmer / colder than usual and then set the temperature at normal. This prevents the heat or A/C from kicking on when the buyer is present, because some HVAC systems are loud.

* You want the temperature inside to be comfortable and to give the buyer more of a reason to linger, especially on hot or cold days!

3) Create a Mood

* Light a fire in the fireplace.

* Make it romantic by placing two champagne glasses on a nearby table.

* Turn on soft music. I used to play Enya until one day I heard it piped in at a mortuary.

* If you have water fountains, turn them on. They are especially useful for drowning out traffic noise.

4) Play Down the Scent

* Many people are allergic to certain scents and deodorizers, so don't spray the air or plug-in air fresheners.

* Don't burn candles or spray perfume in the bedroom for the same reason.

* If weather permits, open the windows -- if there is too much noise outside, close them.

* If you're going to bake cookies or simmer spices such as cinnamon in water on the stove, put out munchies so buyers aren't disappointed. More than one buyer has said, "Oh, darn, I thought there were cookies in here!"

5) Play Up the Visual

* If you have seasonal photographs showcasing flower gardens, leaves bursting in color or a snow-covered lawn twinkling from street lights, then display them in a prominent position.

* Open all the window coverings to let in light.

* Keep blinds partially closed that otherwise show undesirable outdoor scenery such as a dilapidated fence or a nearby structure that obstructs views.

6) Light up the House

* Turn on every light in the house, including appliance lights and closet lights.

* Brighten dark rooms with few windows by placing spot lights on the floor behind furniture.

* Turn off TV.

7) Encourage Touching

* Drape sensuous fabrics such as velvet or silk throws over chair arms.

* Leave doors slightly ajar.

* If you have carpeting, vacuum in one direction.

8) Provide Thoughtful Cards

Attach printed cards to items and in rooms that provide further information the buyer might miss or might not know. You have so little time to make an impression.

* If you have an antique chandelier in your dining room, put a card on it that discloses its age and other important details.

* If you have removed the washer and dryer from the laundry room, attach a card to the wall describing the room.

* If your basement stairs are steep, attach a card to the railing that cautions buyers to watch their step.

* Take care when placing a card that says: "Not included in the sale." That will make a buyer want it, but you can play that later to your advantage.

9) Top It Off With Food

The best way to entice buyers to linger and notice even more details about your home is to offer them food. You don't need to cater a lunch, but finger sandwiches, cookies, soft drinks, water, desserts, all are welcome.

* Set out serving utensils, if needed.

* Provide plates, cups and napkins. They can be paper products.

* In plain sight, provide a waste receptacle.

10) Encourage Buyer Feedback

* Near the snacks, leave pens and a stack of preprinted questionnaire cards or a guest book to sign.

* Buyers will feel obligated to respond to your request after being fed.

* The showing feedback you receive will be invaluable.

* Allow buyer anonymity.

Not every mistake in a real estate transaction can be reversed, much less fixed before closing. If buyers goof up and make an innocent mistake, they might very well be stuck with the consequences for a long time or, worse, their deal might not even close. It could fall out of escrow.

Number One Blunder: Refusing to Confide in a Trusted Advisor

This advisor could be your real estate lawyer or real estate agent. Buyers withhold information for a variety of reasons such as:

* Fear of how they will be perceived

* Irrational belief they have all the answers

* Don’t feel it is important enough

* Lack confidence in their advisor

Experienced real estate professionals handle such a multitude of transactions and personality mixes, there’s little they haven’t heard before. Your advisors are representing your best interests and have a fiduciary responsibility to do so. They can’t help you if they don’t know what you are doing behind their backs. Plus, they will likely have a better idea for you than you can dredge up.

If you have cold feet and have thoughts about backing out of the transaction, talk to your agent about those feelings. She can help walk you through the anxieties. Pros will help you to determine if you really need to cancel and, if so, manage the transaction so you can get your earnest money deposit back.

Number Two Blunder: Altering Financial Pictures Prior to Closing

When I bought my first home, I easily qualified because I had no car payment nor revolving debt. A week before closing, I bought a new car and financed the purchase. New ratios meant I no longer qualified. A frantic phone call to my mother, begging her to lend me the money to pay off my car loan (and threatening to show up on her doorstep with luggage in tow and a cat under each arm), was the only tactic that saved me from losing the house.

Today’s home buyers make the same mistake. Do not buy anything on credit and / or with a credit card once you have completed a loan application. Do NOT buy:

* Automobiles

* Washers, dryers, refrigerators

* Lawnmowers or garden equipment

* Expensive electronics or computers

* Furniture for your new home

Slight alterations in your credit ratios could cause an underwriter to throw out your loan and deny it. If your loan contingency has expired or been removed, you could forfeit your earnest money deposit in addition to losing the home.

Number Three Blunder: Buying the Wrong House

The very first thing home buyers should do is make a list of priorities and define home purchase objectives. Figure out what features and benefits are most important and which you can live without. Before you close escrow, review this list. It’s easy to overlook a major factor that could come back to haunt you later.

A buyer looking for a home in the midtown neighborhood of Sacramento, California, found herself swept up in the excitement of buying a home that was a bit less than she actually needed. She convinced herself that having one bathroom was suitable, but discovered shortly after closing that sharing a bath with two grown sons was impossible. It caused her so much tension and strain that she sold less than a year later. It cost her money to sell and more money to buy a two-bathroom home in another neighborhood. If the market had been depressed or a buyer’s market, she could have lost everything, like this next guy, instead of simply spending a lot more money than was necessary.

Another buyer purchased a home that cost him about $100,000 more than he was comfortable spending. But he fell in love with the Victorian character: the high ceilings, sparkling chandeliers and wide-planked floors. A year later, he could no longer afford to make his mortgage payment. The house was too expensive for him to maintain. He would have been better off buying a smaller home in a more modest neighborhood. But he let his soaring emotions cloud his good judgment. Since his purchase, the market softened and he could not sell. He lost his home to a short sale.

48 Blue Dolphin Drive , Crawfordville, FL 32327

www.48bluedolphindrive.z57websites.com

I suspect there are two camps of people who like to fill out surveys -- those who are busting at the seams for the chance to share glowing reviews and those with a rant or need to vent, and not much else in between.

Put me in the rant camp. It's a lot more fun, for example, to read an Ebert movie review of a bad movie than a good one. But you can imagine my delight when I discovered that the National Association of Realtors was conducting a survey among its members. NAR is interested in hearing about the experiences of agents nationwide who are working with the four largest lenders in distressed transactions.

The lenders are Bank of America, CitiMortgage, Wells Fargo Bank and J. P. Morgan Chase. NAR is meeting with these lenders to discuss the ongoing challenges we in the industry face. You might want to contact your REALTOR® or NAR if you've got a gripe that you want heard. Anybody who bought or sold a distressed property over the past four years most likely has a complaint.

It may very well be true that you can buy a champagne home on a beer budget. Cheap Tallahassee luxury homes are one of the best deals out there right now.   That doesn’t sound like a bad trade-off, to grab a bargain-basement deal on the home of your dreams, though, does it?

Home buyers have it drilled into their heads that they need to get a home inspection. In California, for example, real estate agents advise home buyers to do a home inspection 15 ways from Sunday. Our purchase contracts contain two pages that talk about doing a home inspection, and those two pages are repeated in the buyer’s broker agreement. That’s just for starters.

A home buyer does not close escrow without hearing about the need for a home inspection. But what does a home inspection report disclose? Home buyers are often clueless about home construction and its components, and have difficulty deciphering home inspection reports. Many don’t know how to figure out which types of defects are serious or whether their home inspector checked all the essentials. But, by George, they got that home inspection!

Home Inspection Checklist Comparisons

All home inspections are different and can vary dramatically from state to state, as well as across counties and cities. Much depends on the home inspector and which association, if any, to which the home inspector belongs. Because I am most familiar with home inspections conducted in accordance with the standards of practice established by the National Association of Certified Home Inspectors, the following information is based on NACHI guidelines.

Home Inspection Checklist of Items Not Inspected

Understand that California home inspectors are not licensed, nor are they licensed in many states. However, a home inspector’s standard practice typically does not include the following, for which a specific license to inspect and identify is required:

* Asbestos

* Radon, Methane, Radiation and Formaldehyde

* Wood-Destroying Organisms

* Mold, Mildew and Fungi

* Rodents

* Lead

General Home Inspection Checklist Items

* Structural Elements.

Construction of walls, ceilings, floors, roof and foundation.

* Exterior Evaluation.

Wall covering, landscaping, grading, elevation, drainage, driveways, fences, sidewalks, fascia, trim, doors, windows, lights and exterior receptacles.

* Roof and Attic.

Framing, ventilation, type of roof construction, flashing and gutters. It does not include a guarantee of roof condition nor a roof certification.

* Plumbing.

Identification of pipe materials used for potable, drain, waste and vent pipes. including condition. Toilets, showers, sinks, faucets and traps. It does not include a sewer inspection.

* Systems and Components.

Water heaters, furnaces, air conditioning, duct work, chimney, fireplace and sprinklers.

* Electrical.

Main panel, circuit breakers, types of wiring, grounding, exhaust fans, receptacles, ceiling fans and light fixtures.

* Appliances.

Dishwasher, range and oven, built-in microwaves, garbage disposal and, yes, even smoke detectors.

* Garage.

Slab, walls, ceiling, vents, entry, firewall, garage door, openers, lights, receptacles, exterior, windows and roof.

Home Inspection Checklist Items Needing Service

Home inspection reports do not describe the condition of every component if it’s in excellent shape, but should note every item that is defective or needing service. The serious problems are:

* Health and safety issues

* Roofs with a short life expectancy

* Furnace / A/C malfunctions

* Foundation deficiencies

* Moisture / drainage issues

Home Inspection Checklist Items Sellers Should Fix

If you have a choice, it is smarter to hire your own contractors and supervise repairs. Before issuing a formal request to repair, consider the seller’s incentive to hire the cheapest contractor and to replace appliances with the least expensive brands.

Although home inspectors are reluctant to and, in many cases, refuse to disclose repair costs, call a contractor to determine the scope and expense to fix minor problems yourself. No home is perfect. Every home will have issues on a home inspection. Even new homes.

A repair issue that will be be a deal breaker for a first-time home buyer, causing the buyer to cancel the contract, will not faze a home buyer versed in home repair. Talk to your agent, family, friends and call a few contractors to discuss which types of defects are minor. Perhaps a simple solution is available such as replacing a $1.99 receptacle, which can resolve many outlet problems.

Pat yourself on the back, too, for getting a home inspection. Some buyers feel a home inspection is unnecessary, especially if they are buying new construction. If a light switch doesn’t work or the air conditioner blows out hot air, those are problems you can see and test. The problems that aren’t readily identifiable to you such as code violations, a furnace that leaks carbon monoxide or a failing chimney, are the types of defects a home inspector could identify in a new home. Builders’ contractors make mistakes, too.

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