SFR in Hobe Sound, FL

[James Cheung]

I have an opportunity to take over a non-performing 1st Deed of a SFR in Hobe Sound, FL. Borrower left and MIA. The plan is to foreclose and sell the house. It is a 3BD, 1BA manufacturing home sitting on a 1 acre land. I don't know much about the area. Looking at the COMP, it seems like I can sell the house around $110,000. Can anybody advise if 1 acre land is valuable or not in that part of FL? Manufacturing home common acceptable there? In a small town like this, is $110K an affordable? Many Thank