Thursday, June 16

Back in Tampa Bay

Having just returned from Florida last week, I didn't realize I'd be back so soon. My partner and I stumbled upon some houses that an investor is unloading in Clearwater. Several of the houses are short sales and are selling at distressed prices.

For example, one of the houses we are looking at was listed for sale in January, 2008 for $150,000. While this price might have been unrealistic, the house did sell in 2006 for $94,000. The agent I spoke with said the bank approved a sales price of $37,000. The home is 4 bedrooms, 2 baths and from what I can tell (we've not been inside yet) is in decent condition.

This house is one mile from Clearwater Harbor and about three miles from the beach. There are five major grocery stores within two miles and several big box retailers all within five miles of the house. I mention this because, even though I live in a suburb of a fairly large city now, it's a 15 minute drive to any major retailers, and outside of my neighborhood there are few sidewalks. How exciting it would be to walk or bike to just about anywhere I need to go!

3 comments:

  1. It's Clearwater - be sure to check the evacuation route, the storm surge rating and the insurance cost. Flood insurance, wind mitigation (for how your roof is attached), crime statistics all play a role in insurance costs here in Florida.

    Check with local tax office and/or building code office for repairs made 2004-2006(?) for hurricane damage.

    Good luck in your search

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  2. That sounds like a pretty good deal. Have you checked to see how the mystery shopping is in the Tampa Bay area yet?

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  3. I've been looking at shops while I'm down here. Probably not as lucrative as what I'm used to but there's some opportunity.

    It's a little frustrating looking at houses because I was expecting better quality for the prices based on the news stories about how bad the market has been here. There are cheap houses but generally they need a lot of work.

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