Condo disaster or condo success???

➡️Selling or Buying a Condo in the Tampa Bay region right now is very difficult. Sometimes a downright sh*t show if you want to get financing.

🤦‍♀️Even condos that had ZERO hurricane damage, are at risk for being lumped in with the ones that did, which is leading to what’s called a “low confidence score” with lenders.

➡️If you are a BUYER and considering purchasing a condo right now:

1. Make sure you understand what assessments are coming up AND that they have really good solid financials. You will also want to ensure that the condo has passed the Milestone Report.

2. DO NOT expect to use standard conventional government backed  FHA, VA or Conventional financing. You’re going to have to choose a non-conforming loan with higher interest rates for a while, then refinance out of it.

➡️SELLERS: If you are looking to sell a condo right now, you need to have very grounded and informed expectations. The buyer pool that you have available to you has to put down out a lot more money to be able to purchase, than say a year ago. That translates to what purchase price you can command.

✅If you have a solid, knowledgeable agent, a really good lender and take a collaborative WIN/WIN approach you CAN and WILL win in this market.

🌟If you are buying or selling a condo in the area, our team is ready to help make it happen for you! Email me or schedule your call today:
https://yourhomesoldfl.com/schedule-a-call

🔸Laura Marie, REALTOR®
Helping you Sell, Buy & Invest
Creative Real Estate Deals
Laura Marie Group @ eXp Realty
[email protected]
YourHomeSoldFL.com