Hi folks. Today I want to give you a little taste of the real estate market in Central Florida. If you are not in Florida, California or Nevada it may be hard to comprehend how bad things got. How drastically values declined.
Let’s use Ginn Reunion Resort as an example. Reunion was designed to be a would class vacation resort. It features 54 holes of Championship golf designed by Arnold Palmer, Tom Watson and Jack Nicholas. Reunion Resort also has a 10 acre water park, 17 pools, horse stables, tennis, spas, shopping, ANNIKA Golf Accademy, condos, townhouses, single family homes and the topic of today’s post…….lots.
In 2004 and 2005 this was the place to buy and flip vacant lots. Standard size single family lots (4500 to 6500 sq ft) on the golf course were selling for as high as $600,000 in 2005. Today……..
- Bought in February 2003 for $82,900. Sold for $339,900 in May of 2005 with a mortgage of $271,900. Today it’s on the market as a REO at………$14,.900. That is NOT a typo.
- Bought in December 2004 for $184,900. Sold 3 months later for $310,000. It was foreclosed on and is on the market today for……$19,000.
- Sold for $546,700 in September of 2004 with a mortgage of $410,025. Available now for $25,000. Not sure what you could build on this one since it’s only 35 x 115.
Does it get any worse than this? What was the Lender thinking when they lent $410,025 on literally a strip of land 35 ft wide?
Anyway…...if you are looking for a deal in Reunion let me know. I’m sure we can find you something.
Reunion Lots from the $20,000s
Reunion Townhouses from the $110,000s
Reunion Condos from the $150,000s
Reunion Single Family Homes from the $200,000s
Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com
http://ShortSaleSuperStars.com
Are you a Florida REALTOR(R) looking for a change? Check it out.
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Tutas Towne Realty has already successfully negotiated Short Sales with the following Lenders and Investors.
Chase Short Sale,Sun Trust Short Sale, GMAC Short Sale, Wells Fargo Short Sale,Bank of America Short Sale,USA Bank Short Sale,PNC Bank Short Sale,Citi Short Sale,HomeEq Short Sale,Fifth Third Bank Short Sale,ING Direct Short Sale,GreenTree Short Sale,Capital One Short Sale,ASC Short Sale,First Horizon Short Sale,E-Trade Short Sale,Transland Financial Short Sale,US Bank Short Sale,IBM LBPS Short Sale,
Nationstar Short Sale,BAC Florida Short Sale,Real Time Solutions Short Sale,Fannie Mae Short Sale
FHA Short Sale,Selene Finance Short Sale,DTA Solutions LLC Short sale,Flagstar Short Sale,IndyMac Short Sale
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Tutas Towne Realty, Inc handles Florida real estate sales, Florida short sales, Florida strategic short sales, Florida pre-foreclosure sales, Florida foreclosures in Kissimmee Florida Short Sales, Davenport Florida Short Sales, Haines City Florida Short Sales, Poinciana Florida Short Sales, Solivita Florida Short Sales, Orlando Florida Short Sales, Celebration Florida Short Sales, Winderemere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.
