Foreclosure Properties in Port St Lucie Second Quarter
There are many advantages in buying Port St Lucie foreclosure homes and condos. The idea of buying properties for less than the fair market value and having an immediate equity is the primary reason for most home buyers and investors in buying the Port St Lucie foreclosure homes. Although the built-in equity is a great incentive to any home buyer, but this scenario not necessarily comes through in all foreclosure-related transactions. In many occasions, we have witnessed the overbidding mistakes by over zealous investors and home buyers of Port St Lucie foreclosure homes. The overbidding occurs because of two different factors; either the buyers don’t have an idea of a correct fair market value or they underestimate the cost of repairs and remodeling.
To correct the above mistakes, the buyers of foreclosure properties must employ an experienced Realtor@ who is an expert in foreclosure, REO, bank owned properties. At times, they may have to seek advice from a licensed contractor to obtain a better estimate for repair costs. Experienced appraisers are also a great source for estimating the possible added value to the property after a rehab. A typical property appraiser is trained to estimate the value of upgraded items in remodeled homes. Using this knowledge would assist investors and home buyers of foreclosure homes to analyze if an upgrade will have a positive return when they try to sell the property.
The following reports are designed to offer a snapshot of the foreclosure homes in Port St Lucie during various months of the year. The listing trend for foreclosure properties in Port St Lucie in the second quarter seems to stay consistent with previous periods.
Foreclosure List for April 2016
For the 2nd week of April, there is a total of 43 foreclosure listings in the city of Port St Lucie, which includes single family homes, condos, townhomes, and villas. The price range is from $59,900 for an 866 SF, 2/2 condo to $390,660 for a 2,488 SF, 3 bedrooms, 3 baths single family home. Click below for a list of foreclosure homes for first half of April 2016.