Paradise Island on Treasure Island Home value

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10112 Paradise Blvd and 10127 Paradise Blvd

Both house were fantastic deals in sold in a matter of day

10112 Paradise Blvd is a  3 bedroom 2 bath 2 car garage 1816 heated square feet with a pool and it sold for $ 250,000

10127 Paradise Blvd is a nice 4 bedroom 2 bath 2 car garage 1932 heated square feet with a pool on the water and it sold for $532,000

These two sales might affect our property values dramatically.

They both sold this month (March 08)

A few years ago appraisers assumed that the property values are going up and up by the day and we saw appraisals coming in on the high site rather than the low end.

This is different today, what I see is the opposite, appraisals come in on the low site and short sales and foreclosures and distressed sales are taken into consideration.

Nowadays some banks even require two appraisals.  I ran into a situation a few months ago were the appraiser refused to submit the report because there was a short sale closing soon and he wanted to wait for this data to come n so he could include it in this appraisal. I have never seen this before. Well as you can clearly see, it is a buyers market.

 

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