Miami and Fort Lauderdale Real Estate Reality Update

Fort Lauderdale, Florida

 Marina Sarabia KW Real Estate Website I have recently experienced a few transactions that have impacted me significantly. This is not your regular TV Real Estate Reality Show… this is true everyday realtor reality and it was happening all at the same time:

1- Fifth is the New Charm: Last October, I was taking my dog for an afternoon walk and met a neighbor who was also walking his dog. In conversation, he shared with me his desire to buy a house in the area (Surfside, Fl). We felt comfortable with each other so I started one of the most intensive and prolonged house hunting endeavors of my 21 year career. He saw house after house after house after house. We wrote 5 offers until the last one was accepted and closed this past September.

The 1st offer was written and died in early December. The seller and the buyer were $10,000 apart -few months later I saw the property sold and closed for the same amount my buyer was willing to pay, but to a CASH buyer.

The 2nd offer was a back and forth negotiation that started around Christmas and went on to a fully executed contract around late January, It cancelled due to major structural repairs needed and the unwillingness of the seller to re-mediate the situation. In that transaction we also dealt with a seller that was not the real seller, a phantom listing agent and a listing broker that had no idea what was going on.. I was glad my buyer wanted out of that one..

The 3rd offer we also lost to a CASH buyer.. The negotiations went on for about a month. Property was sold for $5,000 less than what my Pre-Approved FHA buyer's last offer.

The 4th offer was another fiasco. Don't know what happened there -we never received a counter offer, although my FHA buyer was willing to pay more. The property was sold and closed for $5,000 more than my buyer's original offer. The closed sale shows a mortgage.. go figure!

The 5th and last offer was a FORECLOSURE! BANK OWNED ! REO! Yeap! i know how to deal with those.. another back and forth for about a month but finally: Veni, Vidi, Vici! and closed in less than 30 days!

2- The Foreclosure Madness: Had this Canadian family that came for a 2 day (must buy trip..cash cash) to purchase two condos in the Hallandale or Hollywood, Fl areas. They wanted the same complex, almost looking for twin properties. Yeap! Labor Day Weekend I was in Labor all right! -they both made offers on foreclosures properties .. and after dealing with multiple offers (one of the unit had 20+), got them both accepted!

3- NTFA (No Time to Fool Around): My third case was another Canadian buyer that came for 3 days. This is a very busy man that came with his family to buy a half a million dollar second home. They were not sure where, what or how but they needed to find, buy and close in those 3 days. Started with Miramar, Fl., then Pembroke Pines, Fl., then Weston., then…Who cares! DONE! How? well you know… that's where 21+ years in the business comes in handy!

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1 thought on “Miami and Fort Lauderdale Real Estate Reality Update”

  1. James

    October 21, 2011

    Foreclosures are disappearing fast. Foreclosure madness is good way of putting it. I have tried to put offers on foreclosures to no avail. Be quick!


Miami and Fort Lauderdale Real Estate Reality Update

Fort Lauderdale, Florida

 Marina Sarabia KW Real Estate Website I have recently experienced a few transactions that have impacted me significantly. This is not your regular TV Real Estate Reality Show… this is true everyday realtor reality and it was happening all at the same time:

(more…)

1 thought on “Miami and Fort Lauderdale Real Estate Reality Update”

  1. James

    October 21, 2011

    Foreclosures are disappearing fast. Foreclosure madness is good way of putting it. I have tried to put offers on foreclosures to no avail. Be quick!