Archive for July, 2009
How NOT to sell Palm Harbor Waterfront Homes!
July 26th, 2009 categories: LIST and SELL MY HOME FAST!
So I was just surfing the Tampa Bay MLS looking for Palm Harbor waterfront foreclosures and homes for a new client friend. I came accross this ridiculoussly small picture of what may be a perfectly lovely home, but I wouldn’t know because I can’t see it. The Realtor private remarks say that the “Seller is Motivated”. Too bad the seller hired the wrong Palm Harbor Realtors. When professionals like us see this sort of thing it makes us cringe – and sadly doens’t do anything to elevate the public’s perception of Realtors. There are only three determining factors that control whether or not your home will sell, and we call them the 3 P’s.
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Presentation (how the home looks – which is something you control)
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Price (your asking price – which is something you control)
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Promotion (this is how your property will be marketed and your agent controls this. Your agent selection is critical.). By the way, see How to Sell My Home Now for a glimpse of what we do that’s far above and beyond the normal call of marketing duty for a typical agent – and light years beyond what this agent has done with the microscopic photo.
Did I mention that this was the ONLY photo provided, and it’s been on the market 184 days and counting?!?!!!
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Buying Pinellas Real Estate? The New MUST-KNOW Mortgage Disclosure Rules: The Mortgage Disclosure Improvement Act (MDIA) starts July 30th
July 24th, 2009 categories: Mortgage Updates
On July 30th, 2009, the Federal Reserve Board’s new Mortgage Disclosure Improvement Act (MDIA) goes into effect. It’s mostly good news for if you’re refinancing your home or buying Dunedin real estate, yet it does mean that it could take longer to close on your home loan. Here are the facts simplified:
- This mandate will apply to EVERY mortgage in America.
- The lender must give you a TIL (Truth in Lending) disclosure with all of your closing costs spelled out within 3 days of your initial application. If you don’t get the disclosure, you can pull the plug. By the way, our lender partners have always done business this way. If you need a referral to a lender that has always played by the book, and provides the best interest rates going, contact us.
- There must be a 7 day waiting period between the date the initial TIL disclosure is provided to you and the closing occurs. AND! …best of all ….
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Palm Harbor Waterfront Homes: HURRY on this 4/3/2 Fully Updated Gem with Dock, Covered Lift & Pool! Offers due by Aug. 7th at 12PM! May the Best Man (or Gal) Win!
July 22nd, 2009 categories: Palm Harbor Homes, Pinellas Foreclosures and Short Sales, Pinellas Waterfront Homes
Looking for a spectacular piece of waterfront Palm Harbor Real Estate at a Palm Harbor foreclosure price? Look no further! This 1,960sf Palm Harbor short sale is just about to hit the open market again at only $299,123! Note this property had 5 offers in 2 weeks when first introduced in April. However, it’s your lucky day .. the original buyer’s plans changed and so now your dream can be a reality. Call Julia at (727)366-0324 or contact us for details and to arrange your private viewing. No showings until Saturday, July 25th, and all offers must be received by August 7th @ Noon.
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Understanding Pinellas Foreclosures and Short Sales: A Glimpse into Murky Waters
July 19th, 2009 categories: Pinellas Foreclosures and Short Sales, Stop Tampa Bay Foreclosure
There’s some great news for buyers looking for Palm Harbor foreclosures AND some promising news for Dunedin home owners in trouble – IF their loans happen to be backed by Fannie Mae. This post will address the plans that are in play to simplify the Pinellas short sale approval process and hopefully modify or refinance some of the many troubled mortgages throughout Pinellas, Hillsborough and Pasco Counties.
WARNING: This post is just a snippet of the legal options available for troubled homeowners and for Tampa Bay investors looking for a new home.
The Pinellas Peach has compiled these Federal and Fannie Mae Resources for those facing Tampa Bay foreclosures, and our two cents worth on some.
The Fannie Mae Loan Lookup can help you determine if Fannie Mae is the investor on your mortgage. This Borrow FAQ is worth a read and explains why you may care.
Federal Financial Stability Plan includes press releases from the U.S. Treasury Department’s Financial Stability Plan, including press releases on the second lien program and foreclosure alternatives for short sales. If you’re considering a Palm Harbor short sale, please note that much of this reads like an Infomercial and much of the good news bantered about has thus far failed to materialize for homeowners in any significant manner or number.
The Making Home Affordable Program features Fannie Mae Affordable Refinance options and the Making Home Affordable Modification Program. This month, a client friend of ours was actually able to make a Fannie Mae backed loan modification work – and he did it all by himself! This is the ONLY instance we’ve heard of where a Read the rest of this entry »
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New Kids Sprayground at Highlander Park Dunedin Florida
July 13th, 2009 categories: Pinellas Things to Do & Events
Yes, I am one of the Palm Harbor Realtors who loves the Palm Harbor school district but who also has a child that is already bored of summer vacation!
While I am happy I am not personally bored because the summer is one of our busiest times to show and list Pinellas homes, I really don’t want my child to be! I think we’re all caught up on the summer movies at the AMC Theatres Woodlands 20 on Tampa Road in Oldsmar and we’re a good way through the summer reading list, and then I hear there’s a new Sprayground in town!
We’ve had a nice rush of needed rain in Pinellas County these past two weeks but under sunny Florida skies, crazy water jets, mushroom and spinning sprayers, and water canons sounded like the perfect summer vacation cure. The Highlander Pool just officially opened this new edition to the ever-diversified Dunedin. It is called the Kiwanis Sprayground replete with a Loch Ness Monster theme. It is located at Read the rest of this entry »
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Pinellas Real Estate Sales May ‘09: On The Road to Recovery
July 7th, 2009 categories: Pinellas Market Statistics
These Palm Harbor Realtors were once again pleased to see the latest sales numbers for Pinellas homes just released from the Pinellas Realtor Organization (PRO). The number of Pinellas condos and Pinellas homes actively on the market continues to decline at a good clip, whereas the total number of properties sold is up for the FOURTH month in a row. WOW!The absorption rate (A/R on the above chart) is the quick indicator that’s shown above that Tampa Bay Realtors use. As you’ll note, the absorption rate for single family home sales is higher than it was in August of 2006!
Note that the average sales price of Pinellas condos was up significantly from March 2009, which made no sense to us at first glace, because the condo sales prices we’re seeing are dropping like stones due to tough financing issues specific to condos (a topic for another day). But we dove much deeper into the stats (so much for watching that Boston Legal rerun tonight), and discovered that there was a huge surge in high-end condo sales between $400K and over $1M, which explains the delta. It’s going to be interesting to see if that trend continues, and we’ll keep you posted. So, if you’re ready to dive in and buy that $1M+ Clearwater Beach condo, the getting is good.
By the way, click the “Submit Your E-Mail” button below to subscribe to The Pinellas Peach. We’ve got some really interesting sales stats for Pinellas Foreclosures vs. Pinellas Short Sales vs. “regular” sales coming your way as fast as we can write ‘em!
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Best July 4th Fireworks in Pinellas County and Tampa Bay
July 3rd, 2009 categories: Pinellas Things to Do & Events
Fourth of July safety is always the pre-holiday caution. But how about a caution to sit back, relax, and enjoy the show? There are so many places to see fireworks in Pinellas County and in and around Tampa Bay that all you have to do is carry a cooler and some beach chairs and gaze skyward. Certainly a safe and fun way to celebrate our independence. Or grab a designated driver for the golf cart, have a few cocktails, and head for the Crystal Beach Pier. These Palm Harbor Realtors will see you there!
Clearwater Celebrates America
Coachman Park- 301 Drew St. – Clearwater
July 4th 4PM – 10PM
Family activities, Mostly Pops Orchestra, fireworks display
Crystal Beach (Palm Harbor) Annual 4th Celebration
Crystal Beach Pier- take Crystal Beach Ave West to Gulf Drive – turn North (right) .. you can’t miss it!
July 4th Sunset to – 10PM
Informal gatherining with all the locals, many driving their golf carts, fireworks display
Dunedin Hometown USA
Knology Park – 373 Douglas Ave – Dunedin
July 3rd 9:30 PM firworks display
City of Gulfport Celebrates
Gulfport downtown waterfront district- 2401 53rd St. S – Gulfport
July 4th fireworks display
Safety Harbor’s July 4 Celebration
Safety Harbor Marina Park – 110 Veterans Memorial Ln – Safety Harbor
July 4th 5 PM – 9:30PM Events and fireworks Read the rest of this entry »
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FHA Loans for Pinellas Home Buyers
July 1st, 2009 categories: Mortgage Updates
If you’re looking to finance a Pinellas short sale or Pinellas foreclosure and have 3.5% for a down payment, then an FHA loan is your ticket to home ownership. The FHA is not a lender, nor do they set interest rates. The Federal Housing Administration is a federal government agency (a division of the U.S. Department of Housing and Urban Development, or HUD), that offers mortgage insurance on loans originated by their approved lenders. In a nutshell, it’s insurance that protects the lender in case the borrower defaults.
The FHA was created in 1934 after the Great Depression, and was widely popular until recent years when subprime lenders offered something seemingly better: artificially low interest rates, no-interest payments and a false dream. Daily, lender requirements are becoming more and more stringent, and, as a result, FHA loans are once again commonplace and the only vehicle for many to own their Duendin homes.
Advantages of an FHA loan include:
- low 3.5% down payment and closing costs
- gifts from family members, employers or charitable organizations are welcomed
- minimum credit scores are lower than for conventional loans
- lenders will consider payment of rent, utility bills and auto insurance premiums when evaluating the applicant
But Whoa! Hold on, there’s a tiny downside …. Read the rest of this entry »
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