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3 Types of Homes Selling in Lake County

By
Property Manager with DART Properties

I find myself telling my customers over and over again that foreclosures are not the only homes available to buy. Here in Lake County FL where Leesburg, Mount Dora, and Eustis are notes for their antiquing buyers are looking for great deals and are focusing solely on foreclosures. True, there are many bank owned homes that are selling. Most are in poor condition. GOOD NEWS! Some banks are starting to replace carpets and cleaning up the yard. Finally someone ate the bank realized that by spending a little money to clean up a home will earn them more money when selling. Yet, there are still other homes available.

In Mount Dora, Eustis, and Leesburg Florida there are 3 types of homes that are selling.

1. Regular: Normal selling wanting to sell (Usually overpriced)

2. Short Shale: Possible good deal, home usually maintained well, may take awhile to close

3. REO/Bank Owned: Great deal, most need fixing

I tell my buyers that we should look at all types. I sold a house in Eustis that was a short sale. It took 3 months to close, but what a deal. 4 Beds 3 Baths, 2300 sq ft, lake view, separate dining and living rooms, with 2 car garage asking price $275,000 sold for $217,000. 

 

Currently I have a buyer who wants to buy a regular sale. The seller is asking $120,000. The appraisal came in lower and the seller reduced the price. We have a contract for $110,000.

 

Bottom line is that there are deals to be had everywhere. Do not limit yourself to one type. AND, do not be affraid of short sales.