Thursday, March 8, 2012

" War, it ain't nothing but a heartbreaker"

"War, it's got one friend, That's the undertaker" Edwin Star & War
Picture is one my son sent me from Afghanistan. The land looks beautiful through the artilary hole.

There is still nothing new in our complexes, we are rather stagnant or owners have decided to stand pat.

Believe it or not flipping property is now back. The banks however have added a new wrinkle to the process. Some lenders who make loans on properties are requiring that regardless of the appraisal the seller can't receive over 20% profit unless they produce receipts of added value work being completed to the property. The other option is to have a 2nd appraisal done that is comparable to the 1st. We just closed one with the appraisal option. Wow

There is a new listing on the Banana River that is a single family with a pool that sits on .59 acre. These types homes have been selling quickly due to the lack of inventory. Home was built in 1954 so I am sure it will require updates.

Jim Bagwell

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