Treasure Coast Insider

Hard to believe the holidays are here! Wishing you and yours a healthy, happy holiday! During this special time of year, enjoying family, friends, and fellowship gives reason to appreciate life. Taking a deep breath and being grateful for this beautiful world blesses each of us. The real estate market is taking a breather by adding inventory and more than doubling Days On Market in recent months as a result. Active inventory is up 30% for single-family homes in Florida from a year ago and 50% across the state from 2020, when the migration from the north and west began in earnest to leave restrictive states for sovereign rights. Those moves have slowed down significantly.

The current market is a more balanced market for buyers and sellers in Florida. Sale prices have stabilized and the trajectory has softened from its meteoric rise during the Covid Era. Historically low interest rates and other market factors benefited buyers between late 2007 and April 2022, when interest rates began to climb. While inventory remained low, this put the squeeze on and we bubbled up with some fast equity and dreams of a never-ending bull market in real estate. Markets are cyclical.

Those "inflation-preventing" tactics of the past are coming home to roost, as we say in the South, and in some areas locally, such as Sewall's Point, in Martin County, FL, this ratio shows a 10%+ reduction in List to Sale Price. The same town's Dollar Volume is trending up as more properties come on the market. This is a high-end town and sellers are experiencing pain as they reduce pricing to get ahead of the market, even though the Median Sale Price is up substantially from a year ago.

Real Estate is returning to a more "normal" market. It doesn't FEEL normal for many reasons. It's been in a tight seller's market for many years seeing Days On Market at less than 11 days in some counties in Florida for extended periods of time.

Some buyers from other parts of the country feel Florida's real estate market is in free fall. Waiting for the bottom to fall out, some investors are looking for increased foreclosures and "deals." This isn't happening which speaks against a collapse in real estate like in the subprime debacle of 2007-2008. It's a different market, maybe the likes of which we've never seen. Selling because of increased taxes and insurance is far more likely than defaults on mortgages. With retirees on fixed incomes and inflation rampant, selling a primary residence may become a necessity. Inflation is a hidden, monetary tax on the people. It can be devastating.

Florida, overall, and Martin County are at five months of inventory. Palm Beach, St. Lucie, and Indian River Counties are hovering between five and six months of inventory. The median sale price in the state, four years ago, stood at $305,000, according to FloridaREALTORS.org. It now is up to $420,000, an amazing 27% increase in value in four years. That doesn't mean that trend will continue, especially if inventory keeps rising. Homeowners considering selling must take the market trends into consideration to get the most value from a home's sale.

With active inventory up by double since November 2020, and 30% from just one year ago in Florida, we're not likely to see increasing sale prices soon and may see a flat market and stagflation moving forward. Geopolitical factors, as well as central bank maneuvering, will throw in factors that are unpredictable. The debt ceiling is a non-issue until March, so there are lots of things happening quickly. 

The immigration or de-immigration policies being implemented by the Trump administration will shift the market somewhat, especially in sanctuary cities, as those government and non-government (NGO) programs become irrelevant. If successful, that means less housing needs here in the US for those sent home, to their countries of origin.

Still, with potential shifts in manufacturing back to the US, while supply chains adjust, and talk of peace in some war-torn regions, our future looks bright. This shift in the real estate market isn't a bad thing. Homeowners need to be realistic in their expectations of value, especially when thinking of selling. Get professional real estate advice before making major real estate decisions!

Compared to a year ago Florida's closed sales are down only 3.5% and the median sale price of single-family homes is down only 0.6% over the past year. Active inventory on the market is up 27% compared to a year ago at 100,788 units for November. The dollar volume is flat at 10 Billion and new listings are up 7.2% at 28,076 units. Supply of Inventory is up from 3.7 months to 4.8 months. In real estate terms, a balanced market is six months' supply of inventory, so we're still in a "seller's market."

This is very selling and indicates a healthy Florida real estate market. It also shows more homeowners are interested in selling and perhaps are hoping prices continue to rise. In fact, sale prices are stable and increasing at a much slower rate compared to the last four years.

This holds true with more Florida facts as the median price is down to 95.8% from 97% a year ago for the percent of the asking price received. That means sellers are getting less for their homes than they anticipate. The median time to contract is up to 47 days from 29 days a year ago. Properties are selling a little more slowly and buyers are more cautious.

The free guides, Seamlessly Sell One Home and Buy Another, Selling for More, and Relocating Smoothly to Florida's Treasure Coast are all available at monaleonard.com/selling absolutely free and no obligation.  

If real estate is on your mind, schedule a customized free consultation to catch up on what's happening in your local market.

As the Thanksgiving holiday approaches, the year in Florida real estate is shaping up to show a shift, albeit small for now. Some buyers from other parts of the country feel Florida's Market is in free fall. Let's take a look at the numbers...

Compared to a year ago Florida's closed sales are down only 3% and the median sale price of single family homes is up 2.4% to $420,000. Active inventory on the market is up 43% compared to a year ago at 90,828 units. The dollar volume for the entire State of Florida is up 1.5% from a year ago at $129 billion dollars and new listings are up 9.5% at 308,981 units.

This is very telling and indicates a healthy Florida real estate market. It also shows more homeowners are interested in selling and perhaps are hoping prices continue to rise... While in fact, sale prices are stable and increasing at a much slower rate than during the covid years.

This holds true with more Florida facts as the median price is down to 96.3% from 97% a year ago for percent of asking price received. That means sellers are getting less for their homes than they anticipate. The median time to contract is up to 42 days from 32 days a year ago. Properties are selling a little more slowly and buyers are more cautious.

Florida is up on month supply of inventory from 2.9 months a year ago to 4.3 months now. That's a significant jump and yet it still indicates a slight seller's market in most areas of the Treasure Coast. 

The free guides, Seamlessly Sell One Home and Buy Another, Selling for More, and Relocating Smoothly to Florida's Treasure Coast are all available at monaleonard.com/selling absolutely free and no obligation.  

Schedule a customized free consultation to catch up on what's happening in your local market.

Have a wonderful Thanksgiving!

This lighthearted prank, dreamed up by the ever-imaginative Cowboy, is a perfect example of how laughter and joy are the lifeblood of a good friendship. Through a cleverly crafted and harmless setup, Cowboy reminds us of the importance of having fun with friends, creating moments of pure amusement that strengthen bonds. Friends like Jean and Gene—who affectionately refer to themselves as the "pair of jeans"—couldn't admire Cowboy's playful spirit more. His knack for humorous surprises makes their friendship lively, filling their shared experiences with moments they'll remember and laugh about for years. 

The "pair of jeans" is a nickname that hints at the playful nature of their friendship, with Jean and Gene perfectly matching their ability to appreciate Cowboy's mischievous, yet thoughtful, sense of humor. This prank demonstrates how the three find joy in simple, lighthearted moments, creating a lasting camaraderie built on humor and mutual understanding. 

Cowboy's prank has also resonated beyond their inner circle, amassing tens of thousands of views online. It's a testament to Cowboy's creativity and talent for orchestrating a memorable moment and the universal appeal of laughter and friendship. Many people who have watched this viral prank find themselves uplifted by the pure fun and camaraderie these three friends share, feeling almost as if they, too, are in on the joke. 

This prank serves as a reminder that some of life's greatest joys come from laughing together. Through Cowboy's clever execution, people everywhere are invited to experience the beauty of connection and shared joy, even just for a few moments. His thoughtful prank brings to life the idea that friendship doesn't need grand gestures; sometimes, a well-executed joke is all it takes to bring people closer.

With summer winding down and the political environment heating up, let's look at what's been happening in real estate. Comparing the current market to last year’s numbers and the year before provides important data. Focusing on Martin County, Florida for single-family homes. Let’s take a look...

The graph below displays the Active Inventory of single-family homes in Martin County to Closed Sales. Closed Sales are taking a little summer breather and Active Inventory has leveled off, for the moment, after big increases since interest rates began increasing last summer.

The Median Sale Price of single-family homes in Martin County has fluctuated significantly over the last two years, yet in many ways, the overall market has been flat in Median Sale Price while the inventory of homes has been climbing since last summer when interest rates began increasing. The graph below shows the Median Sale Price now where it was two years ago for single-family homes and Closed Sales are about the same as last August. While cash sales comprise a whopping 38% of all sales, this number is down from 60% just a few months ago.

The trends in real estate continue to point toward a more balanced and healthy market. It's a great opportunity if you want to buy or sell. Remember, your property is much more than just a monetary investment. It's the place you call home.

There are 100 ways to increase your home's value if you're thinking of selling. Ask me about the eight deadly mistakes homeowners make. See what your home would likely sell for today by requesting a Relevant Property Market Analysis.

It's been quite some time since we last witnessed what's considered a “balanced real estate market.” In fact, according to statistics from floridarealtors.org, Florida’s last balanced market was in 2011! Check out the free guides available on Selling For More, Relocating, and How to Seamlessly Sell One Home and Buy Another at monaleonard.com/selling.

Large amounts of pent-up equity might be causing more homeowners to cash out and search for a new home. Upsizing, downsizing, or relocating means more home-buying and selling options. With more homes coming on the market, conditions are better than they've been in a long time for both sellers and buyers.

Reach out for a Relevant Property Market Analysis to determine the accurate value of your home. It’s the most important information to consider when selling or buying or schedule a customized free consultation to catch up on what's happening in your local market.

I hope you had a great Independence Day! Comparing the current real estate market to last year’s numbers and the year before provides important data if you're thinking of buying or selling real estate. Focusing on the State of Florida for single-family homes... Let’s take a look…

The graph below displays the active inventory of single family homes in Florida in blue over the last two years. The cyclical effect on closed sales each year for the state in green is obvious with peak sales typically in May. In the last year, Florida single family home inventory has risen from 60,000 to over 94,000 units.

Still, as active inventory rises, you can see in this next example, so has the median sale price of homes. That means we have a very healthy market in Florida and with a 4.4 months supply of inventory overall, sellers are still at an advantage and may be for some time.

The trends in real estate continue to point toward a more balanced and healthy market. It's a great opportunity if you want to buy or sell. Remember, your home is much more than just a monetary investment. It's the place you call home.

There are 100 ways to increase your home's value if you're thinking of selling. Ask me for the eight deadly mistakes homeowners make. See what your home would likely sell for today by requesting a Relevant Property Market Analysis.

It's been quite some time since we last witnessed what's considered a “balanced real estate market.” In fact, according to statistics from floridarealtors.org, Florida’s last balanced market was in 2011! Check out the free guides available on Selling For More, Relocating, and How to Seamlessly Sell One Home and Buy Another at monaleonard.com/selling.

Large amounts of pent-up equity might be causing more homeowners to cash out and search for a new home. Upsizing, Downsizing, relocating, or even moving to assisted living means more home-buying options. With more homes coming on the market, conditions are better than they've been in a long time for both sellers and buyers.

Reach out for a Relevant Property Market Analysis to determine the accurate value of your home. It’s the most important information to consider when selling or buying, or schedule a customized free consultation to catch up on what's happening in your local market.

Let's examine the current state of the real estate market and compare it to the previous year. Specifically, we will focus on Martin and St Lucie Counties regarding single-family homes, townhomes, and condos.

Let's begin with Martin County's single-family homes. Closed sales have experienced a decrease of only 2% compared to last year. The median sale price has risen 6.6% to $607,500, and the inventory of homes on the market has increased 44% from last year to 669. More sellers are taking equity as the months of supply have risen from 2.9 months a year ago to 4.1 months today. That's a 41% increase in the time it takes to sell a property. Overall, the county's dollar volume has remained flat, currently at $221M for April.

Shifting attention to townhomes and condos in Martin County, closed sales are down 4.2%. Conversely, active inventory has surged by 71%, indicating increased options for potential buyers. It's also pushed our leading indicator, months supply of inventory, up from 3.7 months a year ago to 6.4 months. That means Martin County's condos and townhouses are now in a slight buyer market. A balanced market is a six-month supply of inventory. Median sale prices are flat compared to a year ago.

Moving on to St Lucie County, closed sales for single-family homes are up 4.6%. Additionally, the inventory of homes on the market has skyrocketed by 59%! Days on the the market, or months, supply of inventory is up by 59% year over year to 4.4 months, still giving sellers the edge. Despite these figures, the median sale price has experienced a modest increase of 4% year over year. These numbers indicate that the market is approaching a state of balance, where inventory meets demand, and homes typically sell, on average, within six months. It's been quite some time since we last witnessed what's considered to be a balanced real estate market. In fact, according to statistics from floridarealtors.org, we last had a six-month inventory supply in the State of Florida in late 2011! It's similar throughout the State of Florida. Days OnMarkett has gone from just 2.6 months to 4.2 months with a 62% increase, and inventory continues to come onto the market. We are back at pre-pandemic inventory levels.

The graph below displays the inverse relationship between closed sales and months of supply. It is always about supply and demand, irrespective of the reasons for the supply and demand in the market. This shows the mirror effect of classic supply and demand economics in all markets. Large amounts of pent-up equity might be causing more homeowners to cash out and upsize, downsize, relocate, or even move to assisted living. This means more home-buying options, making selling a current property more accessible. Conditions are better than they've been in a long time for both sellers and buyers.

The video above is just one example of how the Sewalls Point Police Department watches out for its residents. These officers save lives! Chief Tina Ciechanowski is proud of her officers. So are the residents. With the care of an outstanding department, our streets remain relatively free of crime. It's safety and security at its finest. Keeping our Sewall's Point Town residents safe is apparent in all actions by the Sewalls Point Police Department.

On November 2^nd, our Chief of Police, Tina Ciechanowski, gave a presentation to a packed house at Town Hall informing residents about safety in and around our homes and online. Some topics discussed were data breaches, logins and password safety, and how to keep your credit information safe. Even your child or grandchild's identity can be stolen, and it's important to be aware of steps to mitigate risk and what to do in the event of a stolen identity.

Phone scams can range from the caller saying it's your grandchild and they need bail money to scammers asking for personal information over the phone, such as your social security number or credit card information. Criminals use FEMA and little business loan ploys to obtain your personal information. Chief Tina says, "Social security numbers are the biggest risk, and never give it out unless necessary. And don't carry your SS card in your wallet if it is stolen." If someone asks for your SS#, ask why they need it and how they will secure your information.

While we all feel protected by our police department and know they do a fantastic job keeping us safe, we must do our part to prevent home intrusion and burglary. Our officers cannot be everywhere all the time. Chief Tina warned residents to keep doors locked when home and when they leave. Many doors are left unlocked, which invites criminals to walk right in. Any safes should be bolted down or placed within your home's foundation.  If you own a home here that you rent out, make sure you know the people well. Have a background check done on potential tenants.

Chief Tina recommended, "Anytime there is something suspicious and in progress (i.e., someone you don't know walking in your yard, a neighbor's yard, or a car loitering on your street, ALWAYS CALL 911!" Don't worry about being overcautious because dispatch at Martin County Sheriff's Office will determine the level of service needed. That's what dispatchers are trained to do. If you call the police department office number, you may not reach someone immediately. Anytime you see anything amiss, call 911.

Having a monitored security system deters burglars so do "nest cameras" that are relatively inexpensive. Ensure the camera's resolution is enough to see potential threats on your property. Often, security companies will bundle services together, making them more affordable. Even the dollar stores have magnets that buzz when the door is opened. Doorbells with cameras are another great deterrent, costing as little as $80 on Amazon.

Make sure to wipe clean computers, phones, and any electronics before discarding them. Be very careful about whose Wi-Fi you use and consider getting virus protection for your computers and your phones. Chief Tina has a warning regarding criminals saying," This is what these people do for a living, and they're very good at it." Be innovative, proactive, and diligent about keeping your family and possessions safe.

We should all be very proud of our nine officers in the Sewall's Point Police Department. They protect and serve our beautiful town; we are very grateful for their presence. Show them how much you care! They make our town a better and safer place to live. Here are some of the statistics of our police department.   

Contact Mona Leonard, Sewall's Point Living Content Coordinator and Treasure Coast Living Blogger, for more information.             

Senior fun and activities abound on the Treasure Coast. Golf, boating, tennis, dancing, and swimming are just a few examples. Charitable organizations, churches, and clubs (from the Women's Club of Martin County to several VFWs, Elks, and Moose) add to the possibilities. We have much to offer for senior fun and activities throughout the Treasure Coast!

Happiest Seaside Town

In a recent survey by US News, 9 of the top 25 best places to retire are in Florida. It's no wonder Florida's at the top of the list with low taxes, housing affordability, and overall happiness and desirability. Stuart, voted the "Happiest Seaside Town" by Coastal Living Magazine for the entire US, has many activities and support for seniors. I've lived in the Stuart area for many years and love the small-town charm—so many great restaurants, playhouses, golf, beaches, and boating to consider. 

State-of-the-art healthcare is available at Cleveland Clinic Martin Health which has three hospitals—Stuart, Stuart South, and Tradition in Pt. St. Lucie. We have award-winning long-term care facilities as well. Palm Beach International Airport is only about 45 minutes to the south, and Orlando Regional Airport (and Disney World), is less than two hours north.

Stuart Area Golf Courses

There's plenty to choose from that are reasonably priced, conveniently located, and tons of fun! These beautiful, affordable, year-round courses. Give you miles of greens and lots of golf time. For details about specific courses, check out my blog on golf courses.

Dancing

Do you love to dance? Sing? Senior fun and activities include Friday nights at the Hobe Sound VFW with dancing and singing if you're so inclined. Cowboy Bob's karaoke tunes bring out the performer in all of us. A terrific dance floor and an excellent sound system make the place light up with fun and friendship. Friday nights are open to all. Membership is not required. With very reasonable prices, enjoy their delicious menu from 4:30-7:00 pm. 

Here's a video of Elijah Fox's 100th birthday! He golfs five days a week and comes to dance at the VFW in Hobe Sound. It's more than just a place to go, and it's family. 

Several dance studios are nearby if you want some instruction, and many Stuart area restaurants have live entertainment and dancing. There's plenty to choose from. 

Festivals and Art Shows

As a personal favorite, the Annual Downtown Stuart Art Festival offers a large variety of art and attracts artists from all over the country. This February event on East Ocean Blvd typically benefits from beautiful temperatures and sunshine. With Memorial Park and its lovely grounds as a backdrop, enjoy free admission and the opportunity to see (and perhaps buy) some fantastic art.

Another personal favorite is Under The Oaks in Vero Beach. World-class artists with amazing, high-quality pieces are displayed among huge live oak trees in Riverside Park on Vero's barrier island. It's a stage set for success. For a complete list of Treasure Coast area art shows and festivals, check out Treasure Coast Insider's blog on these events.

Theatres and Playhouses

Stuart offers plenty of plays and entertainment at the Lyric Theatre located downtown. Drawing top performers and musicians, this historic theatre is loved by many Martin County residents. Great musicians, comedians, singers, and entertainers are the consistent lineup for the Lyric. The theatre also offers free movies in the summer. Like the Lyric, the Sunrise Theatre in Ft. Pierce has world-class productions and entertainers. 

Nestled in an unsuspecting location on Weatherbee Rd in Ft. Pierce, the Pineapple Playhouse has ample parking, great plays, and a more intimate experience than larger playhouses. The Barn Theatre on East Ocean in Stuart is also smaller. Another cozy theater is the Riverside Theatre in Vero Beach.

Bingo

Bingo anyone? The highly rated Elks Lodge near Kanner Hwy and US1 in Stuart boasts many Friday nights filled with Bingo and lots of senior fun and activities. Great Italian food on Thursdays with entertainment. Made-to-order meals 5-7 pm with bar service 4:30-8:30 pm. Join in the fun!

Bingo Madness and Arcade on US1 in Port St Lucie have great reviews too! With its recent transformation, it's sure to make your time worthwhile. If you're a serious player, check them out.

Bingo at Night's of Columbus is an excellent spot for Stuart area senior fun and activities. One review says, "This place exudes the warmth of brotherhood." The facility is also available for your events. We are located in southwest Stuart. 

For more information about senior fun and activities on the Treasure Coast, contact Mona Leonard, your trusted Treasure Coast Insider blogger.

These tips on buying foreclosed homes will make the process easier. Searching for a new home can be stressful. Buyers in the foreclosure market expect to find a great deal on an amazing house. However, without knowledge of the process, buying (or attempting to buy) a foreclosed home can lead to far more heartache than happiness. A buyer must go into this process with a little extra knowledge and a little more long-term vision. Here are tips on buying foreclosed homes.

What is a Foreclosure? 

A foreclosure happens when a home buyer stops making their mortgage payments. Usually, after a period of 3-4 months past due, a bank will file foreclosure paperwork. The homeowner is then forced to leave the property, and the bank takes possession of the home. A foreclosed property is then listed as an REO (real estate owner) property for sale directly by the bank. 

Reasons for Foreclosure 

• Fired from a job
• Medical conditions where the homeowner is unable to earn an income
• Unemployed
• Loss of income
• Large debt and other bills overwhelm the homeowner
• Divorce and other legal issues
• Unable to pay HOA dues

Pre-Foreclosure 

A pre-foreclosure is still owned by the homeowner. They’re typically 90 days or more late on their mortgage and expect to be foreclosed on soon. A pre-foreclosure is not necessarily a short sale.

Short Sales

A short sale’s owner has asked their lender to accept less than what is owed on the mortgage in order to sell the house.  Short sales can be very different than other real estate transactions. If you submit an offer on a short sale, the owner then takes your offer to the bank to find out if they’re willing to accept the sale.

It can take many months to find out if your offer is accepted. This scares many potential buyers because most people don’t have the luxury of waiting for approval.

5 Key Considerations

• Foreclosures are sold as-is 
• A loan approval letter should be your first step 
• Know your budget 
• Find a trusted real estate agent to negotiate (as a buyer, you don’t pay the agent’s commission)
• Know the neighborhood and what comparable homes have sold recently
• Loan approval comes first 

Foreclosed homes are also called REO, real estate owned. The bank owns the property. However, the same bank that’s selling the home will not finance the buyer’s purchase. You will need to have financing in place before making an offer to purchase. 

Find a lender and get a pre-approval letter before shopping for foreclosure properties. Having a pre-approval letter tells the bank that you’re a serious buyer. After all, most foreclosed properties do not sit on the market for long. 

Get pre-approved for a mortgage loan

Your Realtor is Your Best Tool 

Bank-owned homes usually move fast. Your agent may have insight into deals not yet on the market too. Your agent should understand what you’re looking for and your budget. This gives you a greater chance of closing on the home you want and can afford.

Foreclosed homes are sold “as-is” 

Any foreclosed property is sold as-is. This is often forgotten in the buying process. Damage may not be obvious to you. A thorough, qualified inspector is essential and may prevent the purchase of a home that will cost far too much to repair to be worth the purchase. 

Check the Landscaping 

Poor upkeep of landscaping can tell you about how long the house has been vacant. This may be far longer than the time the home has been on the market. Vacant homes break down and erode much quicker than ones being occupied.

Homes that sit vacant for long periods of time deteriorate quickly. Check all water pipes to be sure they're functional with no leaks. Leaks can cause mold to grow and cause major damage to the property. In cooler climates, a home that sits over the winter without being winterized can be a nightmare to repair. You’ll not be able to see the broken pipes until you have an inspection or you turn on the water and find yourself in a flooded house.

Check Out the Neighborhood 

The area the home is in is just as important as the house itself. You must live with the people around you and they will affect the value of your home in the future. 

Pay attention to what is near the neighborhood, what businesses are around, and how many other homes are for sale. Do you want to live near the tracks if a train toots its horn at 3 a.m.? If the neighborhood isn’t where you want to be, the price of the house doesn’t matter.

Your Budget is More Than Just a Mortgage 

Almost all foreclosures will need some repair to them. When figuring out a budget, it is imperative that it includes a professional inspection (before buying the home), expected repairs, and some wiggle room for unexpected issues. 

A home inspection is a must for anyone looking to purchase a foreclosed property. An inspector has technical expertise and can point out the deficiencies in the home. Many offer warranties on their work.

Buyers can take care of the little things themselves and on their own time. The issues may not change your mind on buying the house, but they will give you an idea of the expenses that will come along with it in the future. 

On foreclosures, expect to have some minor plumbing issues. Heating and air conditioning systems will need to be serviced or repaired. Watch closely for roof leaks. The key to a successful budget is allotting enough money for repairs so you don’t struggle in an emergent situation.

Search Comparable Home Prices 

A comparable house is one that has sold in the area, is about the same size, and is not listed as a foreclosure. Searching these closed listings gives your home a ballpark value, not just what the bank is asking. There is not much room to negotiate on the price of a house listed on the foreclosed market, and not all of them are a good value.

The list price is close to the bank’s bottom line for the property. They aren’t going to deduct the price for repairs, the neighborhood, or much of anything else. Doing research on comparable homes tells the buyer if they are getting a good deal based on condition and location or if they should take a pass. 

Home buying doesn’t have to be stressful. Buying a foreclosed home should not be a regret. Doing a little bit of research, combined with a good Realtor and inspector, can make all the difference in the world. 

Foreclosed listings are bought because they are a great, less expensive option for home buyers. Doing it the right way, with the right long-term vision, makes for a happy home. 

Buy a HUD Home

A HUD home is a foreclosed property with a Government-backed mortgage, such as an FHA loan. HUD homes are listed on the HUD home store website. You can search the site and find all available properties in your area. 

Your Realtor will place your bids on the site just as they make an offer on any home. There are some great deals to be found on HUD homes, but you need to act quickly as these properties move fast. The pre-approval letter is required to bid if you require a mortgage.

We hope these tips for buying foreclosed homes are helpful. As a Blogger for Treasure Coast Insider, Mona Leonard's local expertise keeps buyers informed about the real estate market. Please call her with any questions at 772.530.6131