Cape Coral Florida and other cities in our regions have become a prime opportunity for those looking to purchase Bank Owned REO Foreclosure properties at very reasonable prices.
- Single Family Homes starting at $49,000 $30,000
- Condos starting at $47,900 $29,000
- Income Producing Duplex (and larger) starting at $84,900 $60,000
The prices obviously increase from that price range. This is something to keep in mind when bidding on these properties. We have noticed that some of the asset managers have had the REALTOR® set the listing prices low to draw an increased interest in the property. Now we have seen just the opposite too. These are properties with listing prices slightly higher than the rest of the properties on the market. Many of these properties will encounter higher days on market time. I started suggesting to recent customers to bid on these properties rather than the lower of the low priced ones that will draw 10 offers overnight at times. The results have been impressive on the higher priced high days on market properties.
Trust the judgment of your REALTOR® when placing an offer on these properties. Have them pull comps to see if the price is a dream or reality. You may be in a position where you will want to bid over or under the listing price depending on the comps, the days on market, and activity on the individual property.
If you are interested in purchasing a Bank Owned, REO, Foreclosure, or Foreclosed properties in the Cape Coral, Fort Myers, and Lee County FL area contact me. Also stop by the links below to start your search for these great deals.
For more information about a future purchase, call me direct at (239) 340-1384 or via email at ScottSlocum@FloridaFutureAgents.com.
Scott Slocum, REALTOR®
Florida Future Realty Inc.
2816 Del Prado Blvd South, Unit 2
Cape Coral FL, 33904
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