Non-Commercial House Ad...
 

A friend faces a personal mortgage crisis, and must sell her Florida home. (Half-mile from the ocean, but walking-distance to shopping and restaurants). This one-owner house is located closer to Cuba than Miami! :eek2:

It's a custom "Great Room" design, mostly of heavy cypress and cedar construction, and a loft-bedroom and balcony—which makes this a three-story house. It has huge south-facing wooden-floor porches, and built on one acre, leaving lots of room for boats and trailers.

This countryside lot is quiet, private, fenced, raised, and has many mature Coconut Palm trees, decorative- and flowering- trees. Overall, the soil has been carefully maintained, mulched and supports a huge garden. At times, it's a nursery for tropical plants:

Royal Poinciana, African Tulips, Sapodilla, Chinese Eggfruit, Governor's Plum, Barbados Cherry, Suriname Cherry, Fig, Guava, Sea Grape, Gumbo Limbo, Indian laburnum, Ponderosa Lemon and more...

A well, a pump, one concrete- and one aluminum- storage building are adjacent to the house. (County water is supplied).

The bottom floor is all concrete, and could store several boats and cars. There are two bedrooms on the main floor, and the loft is plumbed for a third bathroom. (Plumbing not completed, as the kids have moved out).

It has a full-metal roof, and is slated to receive new/replacement windows this month. Some decorations and furniture can stay. (Ask about the Airstream).

She's asking $750K, but the clock is ticking! :eek: (305) 872-4531

(Requesting you text first, leaving your name). :look:

Welcome in!

After the well written, detailed description of the property I looked forward to seeing pictures of the house. I guess that was not to be! It sounds like an interesting property.

But, that is a really nice picture of a dirt road! :look:

At least providing a town/city it is located in might help....

Is it on Zillow? Or listed anywhere?
There are DIY listing sights that will get it up on MLS.

Without it properly listed she is likely to take a bath on it.
I’m assuming it’s not listed because I’m assuming you would have given the link.

Realtor’s are free until it’s sold.

And sounds like it’s not time to try and save on fees if time critical. Arguably they are worth the fees any time because they usually bring in higher bids.

I also think realtors help legitimize a property for sale.

My first thought is, what’s going on that a friend has to help promote it with no MLS link or realtor. I know your trying to help a friend. But I think the best thing is to talk her into finding a local realtor.

The "abode" IS pictured.....

Think "where's Waldo"

Airy, Open Space, All Wood, Quiet, Convenient...Bananas Within Reach!
 

That's the driveway. It'll not be getting pavers on her meager social security checks.

It's also a view of what an acre looks like. There appears to be a camper (L) parked next to her shed (R). The rear fence is probably 20 feet further back.

Not having been there for some time, I'll have to take a guess as to the actual address. It's going to be about 31030 Litton's Way, ZIP 33043—or across the street at 31031. :confused: Lots of privacy added, so "street view" is going to show only natural privacy-screening, tropical greenery—and a gate. You open the gate to the driveway (pictured). Outside the gate, the generous tropical greenery is approaching full recovery from Hurricane Irma. Maybe too much recovery! :eek:

Thanks, mswlogo, each of your excellent points have been put forward. —end of discussion. :rolleye1:

The house is plopped in the middle of a tropical garden.

Nice and airy—there's even more living space on the first floor—I like it. :)

Is that Big Pine Key, Florida, 33043 ...... well on the way to Key West ..... tomorrow's February 10, Wednesday weather: Mostly sunny with a high near 83. East wind around 10 mph.

Does Florida require a salt water fishing license? .... :)

Does Florida require a yearly automobile state safety inspection now with the corona virus happening? .... :)

Does Big Pine Key have an airport? .... :)

Any dirt cheap, direct flights from Plymouth NH Municipal Airport to Big Pine Key?

Zip code 33043 is Big Pine Key in Florida.

This is one of the Keys you cross on your way down to Key West. The area is loaded with "Key Deer". Key Deer never get to the size of the deer we see in New Hampshire.

Key Deer were almost hunted to extinction in 1967, but have been protected since then. The biggest female may be 65 pounds, and the biggest male may be 80 pounds.

Florida does NOT require Florida Inspections during the Corona Virus. Matter of fact, Vehicle Safety Inspections were eliminated back at the turn of the Century back in 2000. Go figure!

The only time a vehicle needs to be inspected in Florida is if you buy a new car from another State, or if you buy a used car within the State. One and done!

Our best man and his wife live on Summerland Key, which is 5 miles from Big Pine Island....long drive from Sarasota. My unsolicited suggestion to the person trying to sell quickly because of financial difficulties....hire a competent realtor to represent you! Otherwise, the property is unlikely to be shown to qualified buyers, and the whole ordeal could be a nightmare. With a decent marketing plan and today’s technology, it’s very likely that the property could sell sight unseen. It sounds like a poor plan to save a commission when the realtor could very well get an excellent outcome, including more $$$$$. JMO.

As a real estate sales guy once told me ...... "by giving us 5%, YOU get an extra 10%." ..... ;)

price?
 

I'm curious about pricing--Did I miss it in one of the posts? Wikipedia says there are (2000 census) about 2250 houses and 5,000 people on Big Pine Key which is about 9.9 square miles in area. 23 miles to Marathon, 30 miles to Key West in the other direction. Looking at Realtor.com, there are many houses for sale, mostly manufactured housing, many on stilts. Lots seem to be 5-8,000 sq ft, so the 1 acre lot for the house in question is pretty special.

The first post lists she is asking $750,000 if that is what you are asking.

Three Neighboring Keys: Marathon, Big Pine, and Key West...
 

Thank you for your "unsolicited suggestion". ;) I'll relay your "take on the matter" to the seller.

Summerland Key, six miles away, has a private runway—lined with private houses. You can land your Cessna in between this row of houses, and taxi into your big and wide garage! (The Keys requires houses on stilts because of occasional heavy flooding due to "hurricane surge").

There are $59 commercial flights to nearby Key West from Kentucky. :look: Private jets can land at nearby Marathon airport. Rental cars can be arranged at Marathon and Key West. Shopping at either location discloses duplicate offices and shops.

Marathon Key has some congested areas of mobile homes on small lots. Big Pine Key is very open, with no congestion. (Just 12 minutes to one of the world's best beaches—cited nearly every year). :coolsm:

This picture shows the huge porch (far left), which I estimate could maintain three table tennis courts. Above it is an open, but private, sun deck—with railings. Below this pictured porch is parking for two cars or boats—with additional space underneath for more cars and boats, or for your favorite hobby.
:look:

Far From Any Other Structures, the View Is Mostly of Huge Trees...
 

It's already in a quiet area, so the one acre is special.

Before building this 1990's house, the lot was filled above the local elevation. The requirement for "stilts" came after this house was built. ("Stilts" are usually made of concrete). The Cypress used for the house was trucked from the owner's North Carolina property.

The lot is mostly one big garden, with flowering trees predominating. Edibles, mostly tropical, are scattered here and there. Pineapples and Key Lime trees do very well in this soil. These edible tropical fruit trees' biggest enemy is one local deer, who is skinny enough to squeeze through the gate. :rolleye2:
876
Below is the view of the "Great Room" concept from the third floor. The right-hand door is a slider; whereas, the main entrance is the French door. These doors face East.

Three neighbors (only) also have one-acre properties, including the house across the street. These homes are surrounded by County-owned woods—set aside from development.

The third floor is mostly one breezy bedroom—which has one 18'x18' sun deck adjacent and one 5'x12'—still sunny—balcony facing West.

Down to the Wire—Only Days Left to Sign New 8% Private Mortgage...
 

I've spent weeks texting to get her to see Reason, but she's of the same persuasion as FLL, so there's that. :rolleye1:

A lawyer has offered to take over her present and expiring mortgage: Four more years at 8%. :eek: Costs follow:

Note and mortgage fee $500, $490 doc stamps, $280 intangible tax, $90 recording fees, Title company, $775, $325 closing fee, IRA custodial fee, $100 for setup, $300 annual maintenance fee. $50 wire fee.

Of course, the seller has no income to pay the interest (or principal), so these expenses will continue to be "folded" into the new mortgage.

She will consider buyers now that the clock has just about run out. :rolleye2:

Her direct number: (305) 872-4531

Listed at Craigslist...
 

I expect she will take a bath on it, regardless of advice.

She's feeling her age, and looking for a buyer who will continue cultivating her vast gardens. In that way, she can move upstate to a multi-acre, tree-lined, "pasture-like", mid-Florida site, and have enough money to "get by".

An unrepentant 1970's Hippy, she doesn't understand that the next owner will probably install a pool, add screened-in patios, pull out the tropical fruit trees, and fill her gardens with concrete pavers! :rolleye2:

As her friend, you have done more than enough for this stubborn “aging hippy” who won’t even heed good advice. She needs professional advice, starting with a dumpster and gallons of paint. Most buyers want something clean and neutral, not a psychedelic horror show. It’s sad because now is an excellent time for sellers, but the seller needs to be reasonable. Someone will undoubtedly tear it down and build what they want if the location warrants it. JMO.

Realtors can be sharks. But it’s just a fact of life.

I can’t tell you how many listings I’ve seen around the lakes that were for sale by owner and didn’t move. Then 6 months to a year later they show up under a realtor and poof they are gone. Some listed much higher and sold.

It's very sad to see somebody be taken advantage of. It's too bad there wasn't an advocate of some sort to help you convince her.

Probably Safe Here, Though...
 

She wants the new owner to love and care for this Florida garden-property forever. :rolleye1:

I'm reminded of the space-movie, "Silent Running". (Searching TV Guide for a submarine movie, and got hooked on a man-made forested planet that Hippy-Forester Bruce Dern commandeers, murdering his superiors in the process). :o

Her cellphone is above. The address, I've since learned, is 30550 Lyttons Way, Florida, 33043.

(USDA Zone 11a, 11b). :look:

Zillow estimate is $427,498. Realtor.com $350,000.

Unfortunately, once one sells their property there is little they can do to control what the new owner does.

Hopefully one can invest into it and make some much needed improvements, otherwise it could be a candidate for a tear down.

Looking at zip code 33043 on Zillow shows there are lots of properties available, many in the under $500K price range.

Let's hope she can get it sold.....

Haha we were interviewed by the former owners of our house for the same reasons! Luckily my kids were well behaved that day.

OK, "Buzz-phrase"...
 

The buzzwords among Lower Keys realtors is, 'Lack of Inventory'".

Very few places are available. When they come up for sale, they sell immediately: "Building Lots" I was considering at $65,000 are selling at $199,000!

A dear neighbor had resigned herself—and a husband in declining health—to assisted living in Broward County. (John Knox Village). She planned to ask $1,250,000. I told her, "Do two things: take down the No Trespassing signs, and add $300,000 to your 'asking' price". :eek:

She did both, and sold the place in 24 hours! New owners started moving-in the same day. :eek2:

As for my "Woodstock-era" friend, she is becoming resigned to accepting that four-year, 8% lawyer's loan. :(

Is her best four-year hope an economy with rampant inflation? :confused:

Is there any possibility of her getting them to lower the loan rate from 8%? Obviously, her credit is a problem, but 8% seems outlandish. Maybe that’s the best she can hope for. Too bad to be trapped in a corner.

Assessor's office "Just Market Value" is $275,010.

I can't see a justification for a $750,000 price unless someone as clueless as she may be likes the house. Stanger things have happened.

Meanwhile, an 8% "lifeline" for 4 years is just eating into her limited assets.

I hate to ask, but how realistic are her plans after she sells the house? Is the $750,000 sales price essential to her plan? What happens when she only gets $400,000? I know aging Hippies often don't think about such things but I hope reality doesn't bash her over her head. :eek:

There's more...
 

Plus, if she should sell within two years, he gets $20,000 of it. :eek2:

Ouch! That is truly the real estate version of “Heads I win, tails you lose”!
She has unfortunately painted herself into a corner, and now a vulture has swooped in. Sad story.

Signing Soon...
 

Her "limited assets" I'm referring to as her "Only Equity in Life".

She says she could put a sign on the road, and sell right away. :rolleye1: Eight years ago, she had a buyer at $300,000. :confused: This season, I had her boost the price, as people were selling over asking price—in 24 hours. The place "shows" well—it's big, convenient, and quiet. Make an offer, and enjoy Florida. :)

Her best offer so far is $400,000, but involves a family of five who can only come up with enough of a loan to pay off the current mortgage holder. Their English ain't so good, but we're figuring those "buyers" want to build a Mother-in-Law cottage on-site for her, and "owe" her the rest. :eek2:

Just curious what any of this has to do with the Lakes Region.


Sent from my iPad using Winnipesaukee Forum mobile app

Likely nothing. BUT, it does show that if a property is overpriced then it will not sell no matter how big the current demand is.

There's Been a Development...Averaging Rates...
 

The lender has now shown himself to have a heart of gold. He's lowered the rate to 6%! :)

After two years, the interest changes to 10%. :eek2:

It looks likes she'll sign on onto this. Somebody from the Lakes Region, please make an offer! :eek:

Good interim solution. Now if she can sell the place with a closing just after the $20k payout date so that she can avoid that payment to the vulture who made that a condition of his participation. Meanwhile, she should use her time to clear out the piles of memorabilia and assorted “stuff” that clutters the place.

Deed Is Done...6% Escalating to 10%...
 

The Seller signed the new mortgage last week, but not the 8% that was first proposed.

I'm not good at math, but I think the 6% to 10% works out better for the lender. :rolleye1:

I spoke by phone with the lender—an attorney. He said what we probably all suspected:

:rolleye2:

What did she end up doing, a reverse mortgage?