Realty Check

What are the consequences for borrowers that “walk-away”?

The lending industry and the government are taking aim at “walk-away” home owners who stop making payments and months later mail the house keys back to their lender. Read more…. 

Why do you think its broken?

 

You don’t like us, its been documented.

 

You’re going to go and buy the “new home” without me because you; 1. Think that you know what you’re doing. 2. You don’t want to work with a Realtor. 3. You’ve bought a home before and think you did alright.  4. You’ll wait until the last minute and then call in someone you know or just find the agent or builder that is looking to get the most money out of you that they can. 

 

You see, studies have shown that the view of the real estate profession is rated as low as a used car salesperson.  Sure, they’re out there.  Unethical sales people that look only after their own interest exist, its no surprise.  There is always a bad apple in the bunch.

 

Don’t Be Shy!  Qualify me!  Interview me! Check my testimonials and call my past clients to screen me!  I have no problems with you “Google-ling me”.  Check to verify my Florida Real Estate Broker License.

 

Professionals use Professionals!  You should never be unrepresented when buying or selling real estate.

 

Things you shouldn’t wait until the last minute to know:

 

1. Negotiation
2. Closing costs
3. Possession
4. Title search abstract history
5. Home inspections
6. Closing date negotiation
7. Escrow and earnest deposits
8. Setbacks
9. Easements
10. Homeowner Associations
11. Covenants and deed restrictions
12. Homeowners Insurance
13. Flood Zones
14. Repair costs
15. Home warranty
16. Clauses
17. Contingencies
18. Addendums
19. Consulting a Real Estate Attorney
20. Your rights to access the property while under contract
21. Renting or leasing your property
22. Lease options
23. Mold inspections
24. Financing
25. Property survey
26. Title policy
27. Property taxes, old and new
28. Whose representing the seller
29. Mortgage application
30. Comparative Market Analysis (where are you going to get the sold data if its not in the MLS?)
31. Sellers disclosure
32. Buyers disclosure
33. HUD statement
34. Foreclosure
35. Short Sale
36. Condominium Documents
37. Right of recession
38. Liens and lis pendens
39. Walk thru
40. Loan commitment
41. Loan approval
42. Pre-payment penalty
43. Recast option in your mortgage
44. Paying points
45. Encroachments
46. Hazard insurance
47. Single Agent representation
48. Federal Fair Housing Law

I can only help you.  The rest is up to you.  I hope you’ll contact me to assist you with your real estate needs. 

 

 

CANDY STORE

We are adults and should know how to control ourselves and how to manage money.  The majority of people in this mess right now with foreclosures and debt are the ones that went hog wild with using their equity to go out and blow money on all their materialistic cravings. 

The candy store was open and they couldn’t hold back.  This is typical Americana with the lack of discipline for saving.  I could only imagine the work force in about 20 years when all those folks in my generation find themselves without any retirement to live on and they are wrestling with the youth to find jobs just to survive.   Now you got the gas guzzler SUV (from the HELOC) in the driveway, the pool you added (from the HELOC), the plasma TV on your wall (from the HELOC) and the condo or home you decided to buy (from the HELOC and no-doc loan) since you and everyone else decided you are “A REAL ESTATE INVESTOR”.

The Adjustable Rate Mortgage is now ballooning and you’re in trouble.  I don’t agree with the government stepping in to help you out or letting you walk away.  This means that we hard working Americans that kept our focus and didn’t go to the candy store have to pay in some way for your mistake. 

You got the stomach ache from over indulgence, why should we have to pay to make you feel better. 

Where and when is the next fad?  Like everyone was a day trader in 2000, everyone was a real estate investor in 2005. 

Sarasota Real Estate Update

The Venice Area Board of Realtors(r) (Sarasota County) reported 110 pending sales in February 2008 compared to 85 in January 2008. This is an increase of 29 percent.
-        The Sarasota Association of Realtors(R) MLS (Sarasota County) reported 654 sales pending (single-family and condo) in February 2008, an increase of 27 percent over the 516 sales reported pending in January 2008.  In addition, Sarasota had 418 closed sales in February 2008, up 28 percent from the 327 closed sales in January 2008.  

 

I have to share this fabulous listing with you.  I have been given the opportunity to list this builders model with a leaseback in place for one year.  Great investment since it returns $40,000 on the investment and all furnishings are included in price.  This home is perfectly staged and the move in date can be negotiated.  Take a look at the inside.  This home is minutes away from Downtown Sarasota, Sarasota / Bradenton International Airport and local shopping amenities.  Listed at $630,000.

        

 

Townhome developments selling strong in Sarasota

Here is a picture i stitched together of a townhome project in Sarasota.  This community near downtown Sarasota and other townhome communities are selling well.  Maintenance free lifestyle and shorter commutes are appealing to the masses.  Did I mention prices are great too? 

 

Sarasota Single Family Homes Report

Statistics January 1 to January 31, 2008 Sarasota County, Single Family
New Listings	Actives	Pendings	Solds	Solds YTD
1,041	5,079	230	142	173
Statistics January 1 to January 31, 2008 Manatee County, Single Family
New Listings	Actives	Pendings	Solds	Solds YTD
664	3,134	139	75	90
Statistics January 1 to January 31, 2008 Sarasota County, Condominium
New Listings	Actives	Pendings	Solds	Solds YTD
597	3,470	101	89	108
Statistics January 1 to January 31, 2008 Manatee Condominium
New Listings	Actives	Pendings	Solds	Solds YTD
252	1,596	30	19	24

 

 

Sarasota Condo Report

Summing up the first 11 months of 2007, Sarasota Florida had more condo’s sold over the first 11 months of 2007 than in 2006.  An eleven month increase of 3%.  Median sale price for condo’s also increased 6.3%.  The figures are in stark contrast to the overall state of Florida, in which condo sales and prices have dropped significantly in 2007.