Sunday, April 27, 2014

Home Buyer Tips: Because you see them doesn't mean you should buy them.

Because you see them on the Internet doesn't mean you see them.  Recently I had a call from a prospective buyer that wanted to buy a home in Brevard County, Florida.

After much discussion about what the caller wanted in a house (move in ready, 3 bedrooms, 2 baths, close to job) I asked about the budget.   Knowing one's vision in a home up front allows me to respond to the budget.

The response was "$25,000 to $30,000."   Before I could say "Huh?" I was given the answer I was seeking.

"I saw some in the listings on the Internet."
Example - not actual listing

Yes, there are a little more than a dozen single family detached structures for sale in Brevard County, Florida for $25,000 to $30,000 (this morning about 16 listings out of 2,800 listings in the MLS system).   A baker's dozen of these are located north of Rockledge, Florida with most in the Mims and Titusville areas.  (Location, location, location!)

But these homes did not fit most of the criteria identified by the caller.  Just because you see them in the MLS doesn't mean you should or can buy them?  Unless a buyer is paying cash many are in need of so much rehabbing they may not qualify for financing.

The key take away for this buyer from our conversation 
  1. Call a local real estate expert, then
  2. Define realistic expectations, then
  3. Begin your home.
Just because you see some really low priced houses for sale in Brevard County, Florida, most often they are not really what you are seeking.   These homes need work and, unless a buyer is an investor with available funds, the significant amount of work needed restrict most buyers - especially those with financing.

When you are ready to buy a home in Brevard County, Florida give me a call at 321-693-3850 or send me an email.