I've had enough': Shore Acres homeowners selling flooded homes 'as is' for investors

Invest In Realty
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Since Helene and Milton, dozens of homes have hit the market. Homeowners are selling 'AS IS' and 'CASH ONLY' for investors, ready and willing to walk away after being flooded in the storms.
Old Tampa Bay homeowners impacted by hurricanes and flooding are now saying
enough is enough and selling their homes as is, especially those in flood
prone neighborhoods like Shore Acres in ST Pete. And if you look online at
Zillow or Redfin, you'll find dozens of damaged homes now for sale. New
tonight, abc action is anchored Nadine Giannis with why homeowners are now
just walking away. Finding a house anywhere in the Tampa Bay area at $300,000
these days sounds too good to be true. But if you come to Shore Acres, you
will find several houses listed for that price, some even lower as they are
damaged homes now at a discounted rate. Homeowners trying to just get out this
homeowner here telling me she's flooded out three times and she simply doesn't
have the strength to rebuild again. I mean, we have chemicals and everything
out from
gutting everything out. L. 11 Ville's four bedroom to Bath Shore Acres home
is down to the studs again. Unfortunately, this is the third flood
in two years. I can't live in this, in this flood zone where you're constantly
having to move out for six or seven months. She bought it three years ago
at $575,000 now listed at 425,000 as is for investors after Hurricane
Helene. I'm going to lose a lot, but I've gained a lot of friends and I've
had great experiences here other than the flood. So I just have to cut my
losses and move on. It's one of dozens of homes that just hit the market in
the last week or so. Listing showing those flooded homes with words like as
is cash only and for investors as homeowners are trying to simply move on.
So this property was, this is like a three bedroom to bath. Realtor Ross
Fangfish is selling for a husband and wife team who just flipped this short
acres home themselves. They put it on the market after renovating it 60 days
ago at $460,000. When we purchased this property, we were thinking, okay, well,
what's the future hold? You don't think to yourself there's going to be four
ft of water or three ft of water or whatever. Now I just dropped it down to
2 99. You know, you'll see the listings that are pending at, you know, 300,000
or 250,000 were originally at 450 or 500,000. So we, you know, you have to
just kind of roll with the punches. But he says interest is there. In fact,
investors are calling and already scooping up these homes. Yeah, lots of
pending. I was actually surprised to see that it's a matter of now making the
most for those homeowners who lost it all because at the end of the day,
you're right, you're going to sell the house and maybe including with the
insurance money, they're going to do okay like that. You know, they can walk
away, maybe just unscarred and move on with life. That's possible in short
acres. I'm abc action news anchor Nadine Giannis.
