5/25/12 IMPORTANT ANNOUNCEMENT: MAJOR BP Update Next Week!

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Orlando Mansion deal Subscribe to Orlando Mansion deal

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Real Estate Investor · NY, New York


Do you have any buyers for this property??


Comps out at over 2 Million....

ASKING $950,000k!!!!!

Our property we have for sale is located at 1516 Sunset Pointe Pl, Kissimme Florida. It is a Colonial style family home that was built in 2006 and in quiet, gated community, tennis courts, lake access via private boat dock. 5 bed/ 5 full & 2 half baths, study game room, bonus room, pool & spa; and an over-sized 3 car garage! Pride of the county. Overlooks pond with fountain, fully paved driveway & pathways. Upgraded roof insulation, intercom system throughout the home, 7" baseboards and 7" & 5" crown throughout the home, 8 ' interior & exterior doors, French doors onto the lanai from 4 locations! POOL 22x30 w/salt system, raised deck w/planters, & 72 " Sheer. Decent water feature & decorative lion heads, heated spa, sun platform, wade in entry to pool. Barrel arched corridor leading to secret game room w/wine cellar. KITCHEN; Granite countertops & decorative tiled backsplash; raised paneled cabinets in Villa Briarwood Cherry. The neighborhood homes are valued at around 2 million. This is an exclusive gated community and this property is the first property as you enter the gates. In this gated community, there has not been any recent sales since about 8 years back because the homeowners here have so much pride and nobody wants to move. This is what I have found out from my research. Our asking price is $950,000 or shoot us an offer. We really encourage you to come to Florida and view the property. I do not think you will be disappointed. We are looking to sell this amazing property to the first person who gives us a reasonable offer so don't be afraid to give us what you got!

Property Details....

5 bedrooms
5 Full Bathrooms
2 Half Baths
4916 square feet
.55 acres
Built in 2006
Monthly HOA $183
Annual Taxes $7,380
Water Front: Lake
Water View: Lake
Master Bedroom (Approx.): 18x17
2nd Bedroom (Approx.): 13x13
3rd Bedroom (Approx.): 13x13
4th Bedroom (Approx.): 13x18
5th Bedroom (Approx.): 11x15
Dining Room (Approx.): 22x17
Family Room (Approx.): 20x20
Living/Great Room (Approx.): 13x13
Bonus Room (Approx.): 17x20
Kitchen (Approx.): 13x17
HOA Fee Required: Y
CDD Y/N: N
Heating: Central Heat Pump
Roof: Tile
Air Conditioning: Central
Exterior Construction: Block
: Stucco
Exterior Features: Irrigation System
: Patio/Porch Covered
: Patio/Porch Screened
: Trees/Landscaped
Garage/Carport: 2 Car Garage
Utilities: BB/HS Internet Avail
: Cable Available
: Septic
: Sprinkler Well
: Street Lights

If interested PM and will take it from there...


Residential Real Estate Broker · Fort Pierce, Florida


Mike,

What has been done to the property to make it worth $950k? I see that it didn't sell for $895k in 2009.

Personally, I think $950k is a little high for a Just Value of $419k.

Thanks,
Stan


Real Estate Lender · Chicago, Illinois


$2 mill? What a joke. Show us the comps.


Real Estate Investor · Alpharetta, Georgia


Stan, you must think that decorative lion heads come cheap. They ain't free, my friend.


Private Money Lender · Los Angeles, California


Mike,
Between this deal the and the those you posted here and here, do you think you're doing yourself any favors with regard to building credibility?

In this day and age of Zillow and Redfin, it takes just seconds to cut and paste an address and get an idea of sold comps. Who do you think you're fooling? Your "Dirt Cheap Wholesale Deals" and claims that one must "ACT FAST" on "some new product" to "Get em now" are nothing more than laughable real estate lingo. Thus, the sarcastic ridicule you seem to attract (well deserved in my opinion).

No sensible investor will take you seriously if you continue posting these incredible claims. Nor do you seem to respond or follow through when asked. You note you're a newbie in your profile. I don't know who gives you your advice, but is this the reputation you want?

You might tone down the hype a bit and present well researched deals, with enough meaningful data in the post to back yourself up. This will give anyone interested in your properties the info they need to make an informed decision and enter into an intelligent two-way discussion.

Jeff


Real Estate Investor · Alpharetta, Georgia


Jeff, I'm not sure if you and I are reading about the same property. This thing has DECORATIVE LION HEADS. If that doesn't push a property past the $2 million mark, I don't know what does.

And remember, "there has not been any recent sales since about 8 years back because the homeowners here have so much pride and nobody wants to move."

The bad market has NOTHING to do with it, Jeff...it's PRIDE.


Real Estate Investor · Audubon, Pennsylvania


Paul,

When you get so serious, it's just hard to argue with you ... :cool:


Real Estate Investor · Alpharetta, Georgia


Of course it didn't sell for $895K. It didn't even sell for $500K:

01/17/2011 Listing removed * $500,000 Watson Realty Corp

11/20/2010 Price change * $500,000 Watson Realty Corp

11/03/2010 Price change * $550,000 Watson Realty Corp

10/14/2010 Price change * $600,000 Watson Realty Corp

09/18/2010 Price change * $650,000 Watson Realty Corp


BiggerPockets Founder · Denver, Colorado


Mike - Any response?

Small_bplogo20aJoshua Dorkin, BiggerPockets, Inc.
E-Mail: webmaster@biggerpockets.com
Telephone: 877-831-4704
Website: http://www.biggerpockets.com
Be sure to check out the BiggerPockets Blog at http://www.BiggerPockets.com/renewsblog/


Real Estate Investor · Audubon, Pennsylvania


Maybe the lion heads were installed just a couple of weeks ago, thus boosting values tremendously as Paul mentioned earlier :lol:


Real Estate Investor · Clearwater, Florida


Can I get it for 650k, with no money down and 0% owner financing?


Real Estate Investor · NY, New York


haha there's a lot of comedians on here I see.
This is a property that is available and was given to me from one of my new sources.

Jeff your entitled to your opinion but you do not know me.


Note Investor · Tempe, Arizona


If I posted and received these responses, I would look hard at what I was doing. This is not an isolated instance, Chosen 1 has other posts receiving similar response. The truth is that BP is full of serious investors looking to puchase, sell or broker well priced property. The sarcasim comes out when a post is over the top rediculous, full of hype, misleading info and unreal pricing.

Truely Mike, your posts are the kind of hype people post on LinkedIn, not on BP.


BiggerPockets Founder · Denver, Colorado


Mike - What about Stan or Paul's concerns about the comps for this property?

Has there been any work done to the property since it was last removed from the market in March '09?

What is your role in this property? Are you the owner? Are you wholesaling it?

I think the "comedians" have come out because if you look at the price history of the property, you see that in May of '08 it was listed for $1.395 million. It was then removed in July. In September '08 it was listed for $999,900 and in December the price was dropped to $895,000. In March of '09 the listing was then removed.

The Trend for prices in this zip have been down to flat since then.

So, without some explanation justifying the price, anyone looking at this sees an inflated price.

Let us know what has changed.

Thanks.

Small_bplogo20aJoshua Dorkin, BiggerPockets, Inc.
E-Mail: webmaster@biggerpockets.com
Telephone: 877-831-4704
Website: http://www.biggerpockets.com
Be sure to check out the BiggerPockets Blog at http://www.BiggerPockets.com/renewsblog/


Private Money Lender · Los Angeles, California


Credibility, Mike, is earned. You don't receive it from the length, quantity, or hype within your posts.

By the way, how's business? Getting any viable leads from this site?

Sometimes I find that when I'm not getting what I want, I turn inward. Blaming others generally doesn't solve much.


· Florida


This property is a short sale and is currently listed as pending - expected to close on 3/31/11. The asking price on the MLS is 500K. It seems like they are trying to flip it after they close.


Real Estate Investor · Clearwater, Florida


Oh a double ckose short sale. So I could get it for 520k then? Then I would run for,mayor to attempt to lower the tax bill


Real Estate Consultant · Indianapolis, Indiana


Mike, I think the lesson to be learned here is that most of the people on this board are pretty well educated and seasoned investors. They know how to do their homework. And of course it's always prudent to do your homework before spending $950,000. They may be having some fun at your expense, but they really are trying to give you some valuable advice.

Best wishes to all,
Andy


Real Estate Consultant · Indianapolis, Indiana


And Paul, do you know where I can get some of those decorative lion heads? I have an endless supply of $15,000 REO properties. Maybe if I stock up on these decorative lion heads, I can get $50k each for them???


Real Estate Investor · Milwaukee, Wisconsin


We should give this guy a break. Like many wholesalers, he went to a boot camp and learned from a guru that this is how to sell product.

Making people excited about a product is part of sales. I don't think he intentionally distorted the facts, I think he is just new and has no clue. He is working his tail off to make that 15k back he spent on "education."

They might have told him in the class to put something cheap in the property to set it apart. He picked the lion's heads. It got people talking!

Mike, take a break from posting deals for a bit and read a bunch here on BP. You could also ask questions of others here. I know there are a few wholesalers here who have closed a deal. These guys might be able to help you.

Lets not make this personal. You should both just say your sorry and move on because in the end, wholesaling is dead.




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