Buying and Improving a Short SaleMost Buyers and Realtors shy away from short sales. However, if

you have the patience and perseverance, you can turn a drab short sale property into a beautiful home.

SHORT SALE CAN EQUAL FUTURE EQUITY

My husband and I bought a short sale as our primary residence in 2012. The key to building equity in a short sale is finding a property that has something unique. This property has deeded lake access to the Chain of Lakes and also already had “good bones”. “Good bones” means no significant problems with the 3 most expensive aspects of a property - 1.Foundation, 2.A/C unit(s) and the 3.Roof. If any of those three major items need replaced, either walk away, or make the accommodation in your offer.

Another appeal of this property is that it has ceramic ti le and hard wood throughout, with no damage at all. Flooring is the next thing to consider after the big three. Try to find a property that the kitchen and bathrooms don’t need a TOTAL remodel either.

The landscaping was the majority of the improvements. I wish I had taken a picture of the backyard before we raked up 50 contractor bags of leaves. The pavers were not even visible. The property had been on and off the market for almost 3 years and the tenants weren’t caring for it.

The list price was $339,000, we offered $315,000 and it only took 2 months to close. That is not the norm in short sales, however. Another short sale purchase we made took 10 months! So, this is where the patience comes into play. Every 90 days, you will have the opportunity to walk away from a pending short sale... So you have to keep calm.

After 2 years, and we DID replace both A/C units because it is so important in Florida, and the property is now worth between $475,000 - $500,000, if we choose to sell it.

Samantha Andrews-Jarvis

Cell: (407) 760-9826Email: sambhhs@gmail.com

CURB APPEAL AND PRIVACYPAINT AND LANDSCAPING

BEFORE ANY IMPROVEMENTS, I CALLED IT THE “CREEPY LOG CABIN”

AFTER PAINTING, CLEANING WINDOWS, LANDSCAPING, NEW MAIL BOX AND NEW FRONT DOOR - 2 YEARS LATER

*WE TOOK 3 SMALL TREES OUT IN FRONT THAT WERE NOT DOING WELL *REPLACED HOLLY BUSHES (ALSO NOT DOING WELL) WITH BAMBOO IN THE BACK FOR MORE PRIVACY *FINDING A WAY TO MAKE THE PROPERTY MORE PRIVATE IS KEY, ESPECIALLY IF THE HOUSES ARE CLOSE - NOTICE YOU CAN SEE

THE NEIGHBORS HOUSE FROM THE BACKYARD IN THE BEFORE PIC, BUT NOT IN THE AFTER *MOST OF ALL, WE JUST CARED FOR THE PLANTS THAT WERE ALREADY THERE, AND LET THEM FLOURISH *ALSO, MINIMAL AMOUNT OF GRASS. IT KILLS THE WATER BILL - GET RID OF YOUR GRASS!!

THE MOST RETURN FOR YOUR INVESTMENTTHE FRONT ENTRY

BEFORE - NOT MUCH COLOR IN ANY OF THE LANDSCAPING AND FRONT DOOR IS BLOCKED BY PLANTS - NOT WELCOMING

AFTER: NEW MAILBOX, PAINTED THE EXISTING POST, ADDED SOME COLORFUL PLANTS, NEW DOOR AND NEW ENTRY LIGHT

THE KITCHENMINIMAL CHANGES

BEFORE

Kitchens do not need a huge overhaul to make them look better. Remodeling A kitchen is way too expensive and makes the home unlivable while the contractors, plumbers, electricians and cabinet makers are working.

AFTER

Small changes can make a big difference!

Modern light fixtures, complimentary backsplash, maybe change out the countertops if they are not a solid, stone surface, but only if absolutely necessary, because that is a huge expense.

OTHER AREASPAINT AND LANDSCAPING

THESE PICTURES SHOW THE BACK EXTERIOR, DETACHED GARAGE AND DRIVEWAY

SOMETIMES, YOU JUST LET NATURE TAKE ITS COURSE AND HELP THE EXISTING PLANTS FLOURISH!