As real estate markets tumble, it can be difficult to know which apartments are real estate deals or scams.
With all the talk of underwater mortgages and real estate banditry, some people are still skeptical.
But real estate agents are now saying it’s time to buy and sell apartments, especially in the Tampa Bay area, according to real estate marketing company Real Estate Banditry.
“We have a new type of investor in Tampa that we are really excited about,” said Eric Johnson, owner of Johnson’s Real Estate Group in Tampa.
“There’s a new wave of millennials coming to Tampa and they are looking for a real estate investment property that will be the next big thing.”
Real Estate banditries are often run by real estate companies, like Johnson’s, that are well-known in the industry.
Johnson said there’s one company in particular that has been successful in Tampa for years, but not all the properties are real.
“The biggest bandit is real estate sales,” Johnson said.
“But I’ve also heard of some other bandit groups that do a lot of real estate transactions as well.
I know of several groups that are really well known.”
Some real estate bands are illegal.
Other real estate groups are legal.
Johnson has seen the rise of the new types of realtors.
He said he’s had customers say they would cancel their mortgage because of the scams and sell their apartment for much less than what they paid for it.
“I have people who are looking to buy a home right now and are told they have to pay more than what their mortgage is for,” Johnson explained.
“They can’t cancel their home because they’re still paying off their mortgage.”
Johnson said many of his real estate customers are looking forward to moving into the apartments, but some are also nervous about how the banditcy will affect them.
“A lot of people are concerned about how they will move in, especially the younger people,” he said.
Some realtor groups, such as the Real Estate Bar, have been trying to crack down on the real estate scam.
They recently put out a warning to prospective realtresses about the bandits.
“Don’t fall for it, don’t do it, and don’t be fooled by the advertising that you see,” the Real Bar wrote.
The Real Estate Club, which is based in St. Petersburg, Florida, is also warning prospective buyers to be cautious.
“You don’t want to go out and buy a new home for less than your asking price,” the club said in a message to realtoters.
We are the best in Tampa at what we do. “
When you go into a realtor’s office, ask to speak with one of our real estate team.
We are the best in Tampa at what we do.
We can help you with all of your questions.”
Johnson told The Globe and Mail that the realtor groups are also cracking down on bands.
“Banditry is a big deal in Tampa right now,” he explained.
He’s not surprised that realtores are cracking down.
“People are really nervous,” he added.
“For years, realtoricors were not able to do a whole lot about it.”
Realtors in Tampa are also advising against buying or renting in the area, Johnson said, adding that he is “not going to sell an apartment” unless he knows there are no other available.
“Even if I do find a home, it won’t be as great as I would like it to be,” he concluded.