Many buyers are considering bank owned properties as an alternative to regular listings or short sales.  Why?  What are the advantages and disadvantages?

Price is one good reason.  Often bank owned/foreclosed homes are priced considerably lower than other comparably listed homes.  Buyer beware though, necessary repairs are often factored into the bank/agent determined price, so low-ball offers tend to be rejected over the more educated buyer's offer.

Appraisals!  If a bank owned property doesn't appraise the bank will often yield to the appraisal and reduce the selling price to meet the appraised price.  Most short sales
succumb to this same process as well.  This is one advantage over regular listings where there is a seller involved who may need to get a certain amount of money in order to release the house.

Location, A vital criteria in determining whether or not this home/investment is right for you.  If a house is priced at $30,000 and is in a typically rental area where the average rental goes for $650-$850 then turn the traffic lights green!  Where do I sign???  If on the other hand this $30k home is located in a beautiful, owner occupied subdivision where homes are normally priced at $150,000, then red flags might be the order of the day. 

Closing on a Bank Owned Property:  Depending on the bank and title company chosen to perform the closing the average bank owned property can be closed in 2-6 weeks as opposed to very lengthy and uncertain outcomes of short sales.

Are bank owned properties a viable alternative?  They most certainly can be, but do your homework and get a knowledgeable Realtor to assist you in purchasing your bank owned property.

For current available and daily updates on bank owned properties  please email me and get in on some wonderful opportunities while they can be found!

This is a 4 Bedroom 2.5 bath home on just over a half acre

Ocala Waterway is a very conveniently located subdivision.  There are two new schools, an elementary and middle school within walking distance to many of the homes on the northern boarder of the community.   It is just down the road from the local public library and just 5 minutes to shopping.  This is a great community for median income families. The property sizes vary from .40-1.25 acres or larger.  Ocala Waterway is zoned R1, meaning it is zoned for residential single family dwellings only.  Access to I-75, Rt 484 and Hwy 200 are all within minutes from most homes in the Waterway.

5 Bedroom 3 bath home also on just over a half acre.

For more detailed information concerning active listings please contact me at: sarahomanrealtor@hotmail.com or 352-209-4044 and I'll be happy to get them to you!  If you currently own a home or land in Ocala Waterway and are interested in selling it then please call me or email me.  sarahomanrealtor@hotmail.com 352-209-4044

A London Realty Corp. Exclusive!

Beautiful new construction 4bed/3bath in great area close to major roads, shopping, golfing, fishing, state parks. Foyer entry with formal living room and dining room; spacious kitchen w/breakfast bar that opens up to 22x15 family room with cathedral ceilings and French doors looking out to back yard. Master suite has tray ceilings, walk-in closet; master bath has double sinks, garden tub and separate shower. Includes refrigerator, range, microhood and dishwasher Blinds on all windows