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For Sale: 2BR/1BA Single Family House in Pinellas Park, FL, $125,000. NEW TO MARKET and not a short sale!!!If you are looking for a great deal……You have found it!!!     This solid, quality-built property has been well-cared for and needs very(more…)

For Sale: 4BR/2BA Single Family House in Largo, FL, $230,000.

For Sale: 2BR/1BA Single Family House in St. Petersburg, FL, $115,000. Newly remodeled and move in ready!!!

For Sale: 2BR/2BA Single Family House in St. Petersburg, FL, $136,900. Just listed and getting attention! Call me to set up a showing today!

For Sale: 2BR/2BA Single Family House in St. Petersburg, FL, $110,000. Great little home just sold as a Short Sale two weeks ago……again, helping home owners stay out of Foreclosure! Call me directly if I can help!

For Sale: 3BR/2+1BA Single Family House in Largo, FL, $98,500. Just helped another home owner from Foreclosure!!! Call for a private consultation today!

You never really get something for nothing; the condition of the foreclosed property is often commensurate with the price tag.

Bottom line, there are plenty of properties from which to choose whether they are foreclosed, short sales, real estate owned (REO), or a traditional sale. Just take nothing for granted and buy nothing without an in-depth investigation.

Emotion is a key part in the home buying process, but if you approach (the foreclosure market especially) with the heart of a business person, you’ll sleep much better in that new home.

FHA has updated its flipping rule and the following transactions do not have any restrictions to time frames when applying for FHA financing: FHA REO properties sold by FHA Re-sales of properties purchased by an employer or relocation agency Property(more…)

Bottom line, if you’ve found your dream home and you’re getting it at a bargain price, don’t let impatience or arrogance get in the way. Short sales may be around for a while, but you don’t want your dream home to get away.

Make sure you create a Multi-Member LLC, otherwise it is just a “pass through!” Today the Florida Supreme Court ruled in favor of the Federal Trade Commission (FTC) in the pivotal case Olmstead v Federal Trade Commission. The decision greatly(more…)

Since the Making Home Affordable plan has been implemented, about 300,000 homeowners have enjoyed an average reduction of $500 a month. Unfortunately, however, this has done very little to improve the housing market. via Government Takes a Stronger Hold On(more…)

Strategic default is often defined as the conscious decision of a borrower to stop payments on an otherwise affordable mortgage because the property is worth less than the mortgage balance. The recent trend of strategic foreclosures has sparked concern and(more…)

Foreclosure sales dominate Hillsborough County housing market – Tampa Bay Business Journal.

The House overwhelmingly passed a bill Tuesday to extend the deadline for the homebuyer tax credit. The Senate would now have to vote on the legislation. Hopefully that happens today. I will keep you posted.

For Sale: 5BR/3+1BA Single Family House in Clearwater, FL, $449,000. REO/BANK OWNED – Fabulous Waterfront Country Estate on the beautiful shores of Salt Lake!

For Sale: 3BR/1BA Single Family House in St. Petersburg, FL, $100,000. Another great deal sold at the end of May!

For Sale: 4BR/2BA Single Family House in Largo, FL, $150,000. This was another Short Sale that we received approval on and closed at the end of April!

For Sale: 2BR/2BA Single Family House in St. Petersburg, FL, $110,000. We should have Short Sale Approval with in days on this one. We have a dedicated Short Sale Negotiator just to handle these types of situations and helping folks(more…)

For Sale: 3BR/2BA Single Family House in Clearwater, FL, $118,000. Just receive Bank Approval on this Short Sale!!! Yea! Looking forward to closing this with in 30 days!

For Sale: 2BR/2BA Single Family House in Belleair, FL, $234,900. Just sold this last month for $180,000. It was a great deal for the right buyer!

For Sale: 2BR/2BA Condo in Belleair, FL, $325,000.

For Sale: 2BR/1+1BA Condo in St. Petersburg, FL, $50,000.

Like spinning tornados that picked up momentum and left profound damage in their wake, the present number of foreclosures was created by a perfect storm of three systems converging:

DON’T BECOME A FORECLOSURE STATISTIC
Carefully calculate how much mortgage you can realistically afford. A great deal doesn’t justify blowing your budget. The odds are, you’re benefitting from a buyer who bought beyond their means…don’t wind up on the wrong end of the deal a few years from now.

Despite the efforts of financial institutions to standardize the short sale process, idiosyncrasies abound; a seasoned short sale agent will know how to work each lender’s system to your advantage and will act as your true liaison. When you’re working against a ticking clock you need knowledge and a spokesperson at your side.

At the end of March we all went through an unpleasant time because Congress did not renew the National Flood Insurance Program (NFIP). They did renew the NFIP in the middle of April but that is only good until May(more…)

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Opportunities across the board in this real estate market: yes; proceeding with caution and following processes to the letter: the best way to land the Great Real Estate Deal of 2010.

Trying to reduce the rising number of foreclosures in the U.S., the Treasury Department introduced a new federal program that makes it easier to process a short sale for people unable to keep their homes. Home Affordable Foreclosure Alternatives (HAFA)(more…)

Beginning in July, Fannie Mae will allow financially troubled home owners to complete a “deed in lieu of foreclosure” or a short sale and be eligible to apply for a new Fannie-backed mortgage in two years. Currently, borrowers who have(more…)

Along with the very active March market overall, distressed property sales and contracts also experienced a big jump. 43.5% of all unit sales involved some kind of distressed property. 68.4% of all contracts written were on distressed properties. The number(more…)

While keeping the disreputable at bay, you need also beware of buyers. While they are obviously the critical component in a successful short sale, they must offer qualifications beyond the financial. Short sales take time and patience and you’ll need assurance that your buyer is in for the ride. So besides the obvious confirmations of lender pre-approval or proof of funds if they are cash buyers, please consider:

The government will give $3000 toward moving expenses to the sellers in the short sale deal or to those who agree to a deed in lieu of foreclosure. This will certainly assist the distressed homeowners who don’t quite qualify for the mortgage modification program.

Each of these options may have potential issues and may carry eligibility restrictions. Your first steps are to take full stock of your situation and then contact both an experienced distressed property Realtor and your lender. The thing not to do is wait…if you are a homeowner in trouble; time is not going to cure what ails you.

In the foreclosure sales market a lot has happened quickly. In the process, the meaning of “pre-foreclosure” and all the other associated terms have gotten a little skewed. We’ve put some definitions together that will help to clarify these very distinct foreclosure phases.

In addition, since the governmental modification programs and refinance programs didn’t avail themselves to homeowners who were either too wealthy or owned too much on their homes; a very large percentage of the shadow inventory homes are luxury class. Many of these homeowners have given up and have vacated their homes.

When time is of the essence and there is not a great deal a borrower can control, our advice is to control the things you can. So, follow the instructions of your short sale specialist to the letter, compile all the requested detail, and make sure everything is accurate and valid. It can be done; you just have to do it right.

The best way to avoid foreclosure is to pursue alternatives like a short sale or a loan modification. Don’t run from the obligation, but instead confront it head on with an experienced Realtor and your lender to determine the best approach.

Waiting a few extra days or weeks to purchase a home this spring could cost buyers thousands of extra dollars as the office of Housing and Urban Development (HUD) implements several changes for loans guaranteed by the Federal Housing Authority(more…)

The process needs to be initiated in the pre-foreclosure phase which begins with the first mortgage payment default. The foreclosure timeline in your state starts the clock against how long you have to list the home, find the buyer, and get the sale approved by the lender.

New rules from the U.S. Treasury could figure prominently in Central Florida’s housing market, where about one in every five existing-home purchases involves a short sale. Key Points of the New Rules: Emerges between now and April; Only banks that(more…)

I just explored this great opportunity if you are having a hardship and you live in your primary residence. If your 1st mortgage is backed by Fannie Mae or Freddi Mac, the FED has approved the HAMP program that will(more…)

When making an offer on a short sale, your Realtor should establish a starting point and an ending point on a contract. You should never have a open ended contract EVER! If you only want to wait a certain amount(more…)

One or the other? If you go into Foreclosure you will most likely receive a Deficiency Judgement agains you. You don’t want this!!! Or maybe you do, I don’t know you! You should probably speak to an attorney on this(more…)

If you are going into foreclosure and you live in your primary residence, don’t ever move out of the property! If “someone from the bank” calls you and states that there is a sale date scheduled for “next week” or(more…)

Always keep in mind that a Short Sale Attempt DOES NOT STOP THE FORECLOSURE PROCESS. The foreclosure process is handled by the attorneys hired by the bank and has a definitive starting point called the Lis Pendens and a definitive(more…)

Bank Owned purchases are very similar to Commercial property purchases in which you have a certain amount of time to do your inspections and you may back out of the contract with in that timeframe. Usually, 10-15 days at most.(more…)

Short Sales are not “Steal Sales” – A seller still has rights to the property and may counter any offer that comes in. It is recommended that a buyer give thier highest and best offer to a seller as there(more…)

The foreclosing lender would like to see that every effort has been made to become current on the mortgage or sell the property on the open market. They want to see that it is listed with a dis-interested 3rd party(more…)

A short sale is when the seller of a property is going into default and is upside down on their mortgage. The property is worth less than the mortgage amount and the seller does not have the financial wherewithal to(more…)