Home for Sale at 5969 TERRACE PARK DRIVE N, ST PETERSBURG, FL 33709

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5969 Terrace Park Drive N
St Petersburg, FL 33709

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Property Details

List Price:	$160,000
Beds:	2
Baths:	2
Status:	Active
SqFt:	915
Agency:	Compass

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Description/Comments

Lot Size:	--
Property Type:	Residential
Year Built:	1979
Notes:	Welcome to Five Towns, a vibrant 55+ community. This is a wonderful 2-bedroom, 2 bath, second floor<br /> condo. The building has both stairs, elevator, an undercover carport space which is attached to this<br /> unit. The condo offers an open living and dining space that effortlessly flows to the kitchen. This unit is<br /> equipped with gas stove, extra storage, and newer appliances. Bring your design ideas and update with<br /> your personal taste in this great location and area. Off the kitchen is the back screened porch. Ideal for<br /> a private garden, breakfast nook, or relaxing area to read a great book. To the west side of the unit are<br /> the two bedrooms and baths. The front bedroom offers double closets, and window treatments that<br /> convey with the unit. The hall bath has a full tub/ shower, vanity, and extra storage. The main<br /> bedroom is towards the back of the unit with an ensuite bath. This bath has a walk-in shower and large<br /> closets. Included in the unit fees are internet, cable, water, sewer, trash, access to hall laundry, exterior<br /> maintenance, and all the common area amenities. This unit does not have laundry inside the unit, but<br /> the laundry room is a short walk down the hall. Central to shopping, dining, entertainment, beaches and<br /> all that Pinellas has to offer.
MlsNumber:	U8223833

Listing Provided By:	Compass, original listing
Name:	Compass
Phone:	(551) 404-5204
Office Name:	COMPASS FLORIDA LLC
Office Phone:	(727) 339-7902
Agent Name:	Tara Kipp
Disclaimer:	Copyright Â© 2024 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest.

The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered.

VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale.

This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments.

Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.

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