Archive for March, 2010
Forest Ridge Real Estate Update
March 25th, 2010 categories: Real Estate News
Have we reached our real estate day of reckoning or is Armagedon upon us? Experts all over the country have posted different views about this subject. | Discussion: 1 Comment »
KNOW THY NEIGHBOR
March 11th, 2010 categories: Real Estate News
It has been recently reported that a new “scam” is taking place in Broward County involving unoccupied homes that are REO’s (bank owned) or Short Sales. A group of people have found a loophole in the system and they are taking ADVERSE POSSESSION , (see Adverse Possession without color of title (Fla. Stat. section 95.18).
Upon taking possession of the home they rent the homes to other individuals and they file a QCD (Quit Claim Deed). There is nothing the police or the Clerk of Courts can do to prevent it. In a quick search of records, over 150 filings have taken place since late last year.
Realtors who list these properties are forced to evict the tenants, who through no knowledge of their own have rented the property. In some cases the Realtors have to pay off the people who filed the QCD or take them to court to prove that they do not have title in order to sell the house.
This is a list of of companies that have been known to participate in this activity:
1. SAVING FLORIDA HOMES
2. COLONIAL PROPERTIES
3. HELPING HANDS PROPERTIES.
4. MAS & SONS Inc.
| Discussion: 4 Comments »
Stop Foreclosure
March 4th, 2010 categories: Real Estate News, Short Sale Info
A recent study by Amherst Securities stated that homes where the homeowner is at least 90 days in arrears on his mortgage payment has less than a 1% chance of catching up. 99% of these homes end up in foreclosure or a short sale. The state of Florida ranks #1 in the country in foreclosures and delinquency according to the Mortgage Bankers Association 2009 4th Quarter report.
The Obama Administration is urging participating servicers to follow through on short sales as an alternative to foreclosure for those homeowners that don’t qualify for a reworked mortgage under the the Home Affordable Modification Program (HAMP). Banks are now reaching out to their customers to help them save their home from foreclosure.
Steve Harney, one of the foremost experts in real estate in our country, gave his advice during a recent interview stating that banks have taken a softer approach in allowing homeowners to short sell their home with dignity, rather than walk away with a foreclosure on their recordthrough The Home Affordable Foreclosure Alternatives Program (HAFA).
| Discussion: No Comments »
Consumers Call the Shots
March 2nd, 2010 categories: Real Estate News
Buyers today have all the power and they know it. Anything that is not out of the ordinary just doesn’t cut the mustard. They spend their money more judiciously and are only attracted to properties that offer value and are superior in their class. They are more cautious and they take their time before making a decision. Your home will be under greater scrunity than ever before. In order to earn their trust you must provide them with unmatched quality. People now have more opportunity, power and awareness and they will not settle for anything less than what matches their needs, interests and desires. They are not on shopping sprees. If you have had more than your share of lookers and not one decent offer, ask your agent to show you the relevant sales in your neighborhood and consider what a buyer sees when making a comparison. A new roof or air conditioner may be a selling point but it won’t add value to your home since roofs are required and most homes have air conditioners in South Florida.
These are the rules of the New Economy and they apply not only to the sale of homes but to all products and services. So, get a grip on reality and adjust your way of thinking because the old economy is not coming back. You will know when you have priced your home to sell because you will have more than one qualified buyer bidding on your home.
| Discussion: No Comments »
