It's a Good Time to Buy a Property in South Florida

By
Real Estate Services with Jaycee Realty, Inc.

Over the past several months, there have been some very attractive properties for sale in the South Florida area.

Here's a few that I have recently been working on:

Property 1
Duplex Located in Delray Beach, FL
Estimated Value:  $120,000
Offer:  $64,000
Gross Income from Rents:  $1,450 per month ($17,400 per year)
Type of Financing: Cash Buyer
Type of Sale:  Short Sale which was approved and closed within 90-120 Days
Gross Cash on Cash Return:   27%
This home, a few years ago, had a mortgage in excess of $200,000
Condition of Home:  No initial work on property required

Property 2
Single Family Home Located in Delray Beach, FL
Estimated Value:  $60,000 
Offer:  $35,000
Gross Income from Rents:  $800 per month ($9,600 per year)
Type of Financing:  Cash Buyer
Type of Sale:  Short Sale which has been approved (within 45-60 Days) 
Gross Cash on Cash Return:  27%
Condition of Home:  Property could use cosmetic upgrades but it's not "required"


Property 3 (available)
Single Family Home  
Estimated Value:  $124,000
Current Gross Income from Rents:  $1350 per month ($16,200 per year)
Type of Financing:  This property may be able to be financed
Type of Sale:  This is a short sale with has been previously approved by the Seller's Lender 
Projected Gross Cash on Cash Return:  13%
Condition of Property:  Property could use cosmetic upgrades but it's not "required"

Propery 4 (available)
Single Family Home
Estimated Value:  $175,000
Price:  $170,000
This home has been pre-approved via a cooperative short sale from Bank of America.  It is located in Wellington, FL.  This home is located on a corner lot, has a small pool, 3 bedrooms, 2 baths and has a nice sized yard.  You may be able to rent this unit out and return around 10% (gross).  This home needs some cosmetic upgrades.

Prices, in some areas, continue to fall.  Please contact me, or your local Realtor/Realtor of choice, if you should have any questions regarding the home sale process.

 

 

Posted by


Rick Schuster

Licensed Real Estate Broker - Jaycee Realty, Inc.
Licensed Title Insurance Agent - Home Guardian Title, Inc.
Licensed Mortgage Broker - Leading Edge Mortgage Corp

20283 State Road 7 - Ste 400
Boca Raton, FL 33498

561-206-2835 - via Google Voice
561-988-2546 -Fax
       

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Topic:
ActiveRain Community
Location:
Florida Palm Beach County Boca Raton
Tags:
real estate for sale
real estate sold

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Anonymous #1
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Anonymous
I agree. Prices are great and rates are at record lows. Good luck. Sell many homes this year.
September 23, 2011 08:12 AM
Rainmaker
42,465
Rick Schuster
Jaycee Realty, Inc.

Thanks Josh!

September 23, 2011 02:02 PM
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Additional Information

As a Licensed Real Estate Broker, Licensed Title Insurance Agent and Licensed Mortgage Broker, Rick Schuster puts together all of the pieces of the Real Estate puzzle.

As a Licensed Real Estate Broker, Licensed Title Insurance Agent and Licensed Mortgage Broker, Rick Schuster puts together all of the pieces of the Real Estate puzzle.