8162 NW 2ND MNR, CORAL SPRINGS, FL 33071
- 4 Bed, 2 Bath SFH
- Bought in December 2004 for $369,000
- On the MLS for $288,000
- Days on the MLS: 101 Days
- Loss before the Realtor® commission: $81,000
- Loss after the Realtor® commission: $98,280
Monday, October 15, 2007
Today's F@cked Buyer (Coral Springs)
This 4/2/2 with a pool is in a great neighborhood in Coral Springs. Since it seemed reasonably priced at $288,000, I drove by the house to check this foreclosure out. The house turned out to be trashed with a damaged roof, gutted floors, and broken windows. It's probably needs $50,000 to make it livable. At least it's priced far below its 2004 purchase price.
8162 NW 2ND MNR, CORAL SPRINGS, FL 33071
8162 NW 2ND MNR, CORAL SPRINGS, FL 33071
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$119,900
2 Bed, 1 Bath
975 Sq. Ft.
Estimated Payment:
$582 Per Month*
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280 NE 53RD CT
OAKLAND PARK, FL 33334
MLS ID# D1200593
sorry, Can't seem to e-mail, so here is a HOT one
orig purchase, Sept. 2006 @ $264,000.00 ---------- Yipppps
I was tracking that area of Coral Springs in 2005, and there wasn't anything for less than $180-200 per sq foot.
This one is less than $100 per sq foot.
For this 1981 house, maybe 180k especially considering all the repairs needed. What happens with the taxes if it sells for 180k. That would be the market value, does the tax appraisal get reduced?
About your question regarding market value. Here is a true story: My friend bought a hurricane damaged home for 140,000 in Davie, but Lori Parrish says it's worth 299,000 regardless of price paid. He is paying over $500.00 a month in Taxes.
Interesting about the taxes.
There's a home I really want to make an offer on ($250k) but the bcpa claims the home is "worth" $800k (mind you, there is another home down the street listed for over a year at $600k that won't sell)
I'll be damned if I pay taxes on $800k when the home can't sell for that much.
Also, I think we need to start doing a f@cked Rental property owner. I will see if I can dig up the stuff again, but I found a rental listed at $1,200/mth, but the owner paid over $300k for the home not too long ago.
I know of a Pompano Bch condo renting for $750.00 per month that the owner (me) is into for $225,000.00
The best offer for a sale (not counting the scam/cash back buyers) was $130,000.00 This reflects a 50% drop in value of the development as others paid $260,000 for their comparable units at the peak.
I don't think the value can tank much more but who knows for sure.
I guess I will keep renting the unit out for now and feel secure knowing that I have options. I can always leave the keys on the counter for Countrywide.
Anon, did your friend appeal the assessment? And importantly, if yes, what was the result. I agree with 'it is real', no way I would buy a property only to pay taxes for an assessed value that is more than I paid. But I get pretty pissed off when I read that Christ and others are going to support 'portability'. Sorry, to Florida long term residents, but I think this should be unconsitutional
This tax issue is really going to heat up! I look at properties weekly that are on the market for Hundreds of Thousands of dollars LESS than bcpa current assessment.
So if someone buys a home for $800k it is assessed for $1.2mil.
Thats f'd up.
I am seeing steady drops on ocean access properties, but they still have a long way to go.
I'm finding intra coastal homes for $1mil and up, prices they demanded for nfb in Lighthouse 2 years ago.
The beauty is the repo's are just kicking in.
140
If you see a Intra Coastal in a no wake zone for around $1M, please leave some details.
Regards,
9360 SW 54TH ST
COOPER CITY, FL 33328
MLS ID# F849638
Anon, I was jut offered this home at 270k, it too would take 50k to get up to living standards. The bank knows about the work but has ben sitting on it for a long time.
Steve S
HA, HA, HA i did surveillance on that guy years ago and he almost kicked my ass. He was a scumbag so i must LMAO, PS his claim was denied in the end...
About MLS ID# F849638
I think the banks are also suffering from expecting "wishing prices". No way I would pay anywhere near 270k much less the asking price of 285k for this house. Ugh!
-HappyRenting
I'll bet a lot of people who are buying property are unaware that bcpa is unwilling to reduce the assessment for tax purposes to the sale price. Going to be a lot of very unhappy buyers.
-HappyRenting
I have a f@cked buyer
9701 NW 47th DR
Coral Springs, FL 33076
Bought 10/21/2005 $530,000
On the MLS $426,000
MLS #F873205
Taxes 2006 = $9,163.46 and this house last sold in 2000 for 224K.
Even if you got a deal on this house, according to the folks here the taxes wouldn't be worth it.
-HappyRenting
Here's a couple intra coastals. Both in Deerfield in no wake zone across from beach area. Walk to beach.
First one asking $1.8 BUT he paid $600 back in 2004 I think? F854715
I figure he's lucky to get $800k by the time this market bottoms.
Next one $1.2 asking, can't remember what he paid and when, look it up on bcpa. F869716
Happy hunting, patience pays. I see sellers who bought in 2006 and 2007 trying to dump every day.
Show me a listing in west boca for this kind of money and I'll buy it.
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