Florida homeowners are invited to a community forum on the housing crisis

Florida homeowners are invited to a community forum on the housing crisis on October 24th being held at the North Ft. Myers High School. The event will run from 9 a.m - 1 p.m.

Hosted by the Attorney General Bill McCollum and the Florida InterAgency Mortgage Task Force this event will offer homeowners an opportunity to receive valuable information dealing with:

• affordable housing
• loan modifications
• alternatives to foreclosure
• buying and selling real estate in the current market
• mortgage fraud
• foreclosure procedures
• scams targeting those in default on their mortgage

Volunteer lawyers and HUD-certified housing counselors will be available for questions. You are encouraged to register by calling 877-385-1621. For additional information please visit the Attorney Generals website.

What can we do to increase our chances of having a bank accept our offer on their home?

Q: We have made multiple offers on bank owned homes in our area without success. What can we do to finally get an offer accepted?

Bank owned properties are a hot right now in the Central Florida area. Investors, first time homebuyers and buyers looking for good deals are competing against each other presenting offers on available properties as soon as they hit the market. While there are no guarantees, a buyer and their agent can take steps to increase their chances of having their offer accepted.

• Are you offering less than asking price? The time for testing the market or making low offers to sellers, especially sellers who are banks is gone. It is a seller’s market for banks and their listing inventory. Ask your agent to provide you with research for the area. Are bank owned property selling above list price? If so then offering less will continue to result in rejection.
• Make them an offer that is hard to refuse. Will your purchase be subject to financing? Strengthen your position by getting approved. Make sure the financing approval letter provided to you by your lender is strongly worded leaving no doubt that financing is not an issue. Being approved should allow you to shorten the contract time period from offer to closing. Instead of 30 days can you now close in 15? The cleaner the offer in terms of contingencies and time frames increases the chance your offer has of being accepted.
• Look for older inventory. There are situations when even bank owned property do not sell immediately upon hitting the market. Perhaps they were priced to high at the onset and the bank refused to negotiate early on. These same listings may now have received price reductions that make them good deals but since they are no longer fresh, they are ignored by buyers and their agents. Have your agent pull bank owned property that have spent a few months on the market and look for those with price reductions.

These suggestions may help you purchase a bank owned property. Of course there is more that just bank owned property on the market right now. You would be wise not to dismiss the regular home owner trying to sell their home. Short sales and motivated sellers/builders are offering some very good deals as well in this market.

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FDLE reports crime down in Florida in 2009

The Florida Department of Law Enforcement has reported that the volume of crime in Florida from January - June 2009 is down overall by 7.9%. Governor Crist calls the decrease "a very encouraging sign".

The report shows a decrease in:

• Murders - 18.8%
• Robberies - 13%
• Motor vehicle thefts - 23.1%

You view the full report by visiting the Crime in Florida Semi-Annual Report.

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Where can I find the best selection of homes on 5 acres in Central Florida?

Q: Where can I find the best selection of homes on 5 acres in Central Florida?

When you say "best selection" I am assuming you are talking about price, size and number of homes available. In order to narrow down the results I limited my search for an answer to your question to include only 3 bedroom minimum, 2 bath minimum, block construction on 5 acres. I searched 5 of the Central Florida counties, Osceola, Seminole, Orange and Volusia.

• Volusia County 22 homes priced between the mid $100's to over $2 million
• Seminole County 31 homes priced between the mid $200's to over $1 million
• Osceola County 28 homes priced between the mid $200's to over $1 million
• Orange County 16 homes priced between the low $300's to nearly $6 million

Osceola County has the biggest selection at this time with Volusia having the lowest prices and Orange County the highest.

We are looking to buy a condo in the Orlando area priced between $300,000 - $400,000

Q: We are looking to buy a condo in the Orlando area priced between $300,000 - $400,000. What are some of our options?

In order to provide you with information I checked out condos that were listed and sold this year between $300,000 and $400,000. Condo associations that have units selling in this price range include:

• Artisan Club in Celebration
• Moorings on Lake Maitland in Maitland
• Sactuary in Orlando
• Carlyle Residences in Celebration
• Eola South in Orlando
• Vizcaya Heights in Orlando
• Paramount on Lake Eola in Orlando

I am available to provide you with a complete list of condos for sale and additional details including making arrangements to view any condo listed.

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Save my home from foreclosure

The FDIC recently launched a new set of tools designed to help home owners from losing their home to foreclosure or fall victim to scams that seek to take advantage of them while they are in financial turmoil.

One of the initial messages the FDIC would like to get out is that you are not alone. As a real estate agent in the Orlando-Kissimmee Florida area I can tell you for a fact this is the truth. What has happened to the economy over the past couple of years hurt innocent home owners like yourself.

The good news is that there may be help for you. The key to this help is in communicating. Communicating with your lender or loan services. I realize for many this is a hard call to make initially but if it helps prevent you from losing your home, isn't it a call you should make?

Ask about modifying your loan. Many lenders and services are working with distressed home owners with the goal of keeping them in their homes. Be persistent, follow up and make sure you provide the modification department all of the documents they need in a timely manner.

You can find more information about saving your home by visiting:

• Hope Now
• Making Home Affordable

Florida home loan modification - Fannie Mae

As part of the Administration's Making Home Affordable program loans owned by Fannie Mae could be modified by steps that include reducing the interest rate, increasing the payment time period, or principal forbearance.

In order to be considered for modification you will need to be living in the home as your personal residence and originated the mortgage before January 1 , 2009.

You can call Fannie Mae or your lender to find out if your loan is a Fannie Mae loan. The number for Fannie Mae is 1-800-7FANNIE. Or you can look up your loan here.

To learn more about this program including additional eligibility requirements, visit Making Home Affordable.


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City of Orlando zoning information

Q: Where can I find information on zoning in the city of Orlando?

You can review the city zoning maps by visiting the City Planning Division or you can visit the Orlando zoning page to view maps. You can also call 407-246-2269 for more information.


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7 suggestions for spending your $8,000 first time homebuyer tax credit

First time homebuyers can receive a tax credit of up to $8,000 if they buy a house before the December 1 deadline. What could you do with the 8,000 extra dollars? If you do not already have a plan on how to spend or save the money, you may want to consider one of the following 7 suggestions for spending your $8,000 first time homebuyer tax credit.

1. Buy another property with cash. As of this post there are over 2o properties listed for sale in Central Florida priced at $8,000 or below. These listings are either condos or manufactured homes.
2. Buy a new computer monitor. NEC CRV43
3. You could by an arcade/video game. Grand Daddy
4. Launch a personal Satellite. Interorbital Systems
5. Buy a camera. Nikon D3X
6. Buy a 'Battlestar Galactica' figure. Cylon
7. Something nice for your new home. Chandelier

Of course don't forget you could also donate the money to charity. The key is that you will miss out on the opportunity to spend the extra 8 grand if you do not buy a home before the deadline expires. Give me a call to find out if you qualify for the first time home buyer tax credit.

(Please check with manufacturer or dealer for price, availability, tax, shipping and handling fees and anything else that is important to you before buying any of the items listed above. I have no own or have a business relationship with any of the companies listed.)

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The MLS has made it easier to find you the homes you are interested in.

The MLS (multiple listing service) has created a new stand alone search field that allows an agent to drill down deeper when searching for a home for you. The new search filed allows the agent to select from homes that are listed for sale in Central Florida as; REO/Bank Owned, Short Sale or None of the Above.

1. REO/Bank Owned. Buyers looking for homes that were foreclosed on and are now being sold by the many lenders in this country will want us to select this option.


2. Short Sale. Buyers who are interested in seeing only those homes where the seller is selling subject to a short sale contingency will expect the agent to select this option.


3. None of the Above. Buyers who are not interested in seeing bank owned or short sale listings will want us to search for homes from this category.

Do you have a preference? Let me know and we will create a custom home search designed just for you.

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How long does the short sale process take?

The time it takes to close a short sale transaction is dependent on the parties involved in the transaction. The buyer, the seller and the real estate agent all play an important role in the short sale process. Once the buyer, seller and agents involved have performed their contractual obligations and submitted all of the necessary paperwork to the lender, the lender now has control of the length of time it will take for the seller to receive either an approval or denial. This time required will vary with lenders and each individual transaction.

The Florida Association of REALTORS created a short sale addendum to the purchase and sales contract that a buyer and seller can use to negotiate time limits for acceptance and additional time periods. The addendum allows for the buyer and seller to agree in writing to the length of time the seller’s lender has to approve the purchase price and contract terms. The default time allowed is 45 days from the effective date of the contract.

Of course the time periods agreed upon cannot be guaranteed and are subject to a third party who is not part of the contract and who could simply choose to ignore the contract.

You can avoid unnecessary delays by working with a professional real estate agent who understands the short sale process and knows how to market your home for the best price in the shortest time period. If you need to sale your home and are curious to learn more about the short sale process, contact me today.


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HUD website to have a new look

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Do not fall victim to fraudulent, deceptive or unfair foreclosure rescue consultants

Do not fall victim to fraudulent, deceptive or unfair foreclosure rescue consultants. If you are in danger of losing your home and are contacted by or you have contacted a company that claims they can rescue you from foreclosure, know your rights.

There are laws in place created to protect distressed home owners from unscrupulous companies. I would strongly suggest you contact an attorney before signing any documents you do not fully understand. You can also review the laws pertaining to foreclosure rescue including Florida Statute 501.1377 Violations involving homeowners during the course of residential foreclosure proceedings.

One important component of the law is that rescue companies and consultants are not allowed to collect payments upfront. The law clearly states:

(b) Solicit, charge, receive, or attempt to collect or secure payment, directly or indirectly, for foreclosure-related rescue services before completing or performing all services contained in the agreement for foreclosure-related rescue services. (bolding mine)

If you are concerned about a company you can visit the Florida Attorney General mortgage fraud site to find a list of those with questionable business practices. You can also visit the HUD website to find local information on how to avoid foreclosure.

Photo credit: Vorstius

Researchers to present their Chinese Drywall findings

Researchers are scheduled to present their Chinese Drywall findings at an upcoming symposium to be held in Tampa in November. Findings should include information on:

• Analysis of materials
• Emissions Testing
• Exposure Assessment and Toxicology
• Remediation/Repair
• Disposal

Hopefully there will be additional details and information available about Chinese Drywall after the symposium.

We present buyers and sellers with addendum that alert them to the importance of inspecting for and disclosing any know Chinese Drywall issues. We encourage home buyers to obtain all of the inspections they deem necessary before closing.

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You can buy a 3 bedroom Orlando home for under $100,000.

You can buy a 3 bedroom Orlando home for under $100,000. There are over 700 to choose from. What are you waiting for? Now is a good time to buy an affordable home in Orlando

Search for homes

Forget ants in your pants. How do you prevent ants in your house?

If you own a home, visited or lived in Florida you are probably aware of the ant population. Ants are not just a picnic nuisance. If you have seen a black ant crawling around the inside of your home or if you have had the misfortune of stepping on a fire ant mound, you know what I mean.

According to the National Pest Management Association you can take proactive steps to eliminate ants and prevent them from becoming unwanted house guests.

These steps include:

• Eliminate sources of moisture or standing water near a home


• Keep food in sealed containers


• Dispose of garbage regularly


• Keep pet food and water dishes clean and remove any spilled food


• Seal cracks and holes around a home

These are all good common sense precautions that everyone can and should follow. You can also use the services of a professional pest control company. Having a pest inspection company inspect your home before you purchase your home and then having them follow up with regular check ups will reduce your chances of having ants or other pests in your home.

Photo credit: Qfamily

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Will there be a rush to submit offers and close on homes before the tax credit deadline?

Will there be a rush to submit offers and close on homes before the tax credit deadline?

The deadline is to close by November 30 in order to take advantage of the Government's first time home buyer tax credit of up to $8,000. It is possible that as the news media, mortgage lenders, and real estate agents continue to spread the word of the pending end to the credit, potential home buyers will rush to take advantage of the opportunity.

Of course time to get qualified, find a house, make an offer and get the offer accepted is getting short. With the Florida listing inventory consisting largely of short sale and REO homes for sale, the time to close on a home is delayed even further by the often time consuming process required to buy one of these listings.

My suggestion is to not delay. If you are serious about buying a home and want to receive the tax credit you should start now in order to beat the rush!

Photo credit: James Cridland

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The majority of Wells Fargo customers current on mortgage payments

The head of Wells Fargo Home Mortgage Servicing, Mary Coffin testified before the Subcommittee on Housing Financial Services Committee that the majority of Wells Fargo customers are current on their mortgage payments. 92 % of their mortgage customers are current according to the testimony.

If you are a Wells Fargo customer facing the possibility of foreclosure, please visit their Company web page which provides information on taking steps to avoid foreclosure. They even have it set up where you can go online to request payment help or you can call them at 800-678-7986.

If you are facing or feel like you are about to face a hardship in keeping current on your house payment, give them a call or contact them. Don't wait until it is to late.


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How does buying a short sale impact a home buyer?

How does buying a short sale impact a home buyer?

If you are a buyer buying a home that is subject to a short sale contingency, the impact will vary depending on yours and the homes situation. Each case will be different and you should consult with an attorney and use the services of a real estate professional who is skilled in handling short sales.

Positive impact

One of the positive impacts of buying a short sale is that often times the home will be competitively priced. Short sale sellers are not typically pricing their homes unrealistically. When the seller's lender approves the short sale price, the buyers will be satisfied in most cases that they have paid a fair market price for the home.

Negative Impact

One negative impact of buying a short sale is the amount of time it takes to complete the process. With some short sale transactions the process is never completed causing the buyer to lose valuable time. Once again each short sale situation can be different. Lenders may not respond to a seller's request for approval of a contract for several months or could decline approval after months of waiting.

Short sale inventory is going to make up a significant portion of the Central Florida real estate market for some time to come. If you are in the market to purchase a home and want to know how it will impact you specifically, contact me for a professional consultation.


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Seller financing homes

I receive calls from time to time from buyers asking about homes offering seller financing. Home owners are also interested in the possibility of using this method in order to attract buyers to their home. As of this post there are over 300 listings for sale in the Central Florida market area where the seller is offering financing.

What should you know as the seller?

The first thing I would suggest to anyone looking to offer financing to a buyer of their home is to consult with a real estate attorney. A real estate attorney can help you prepare the legal documents and answer your questions regarding your obligations and liabilities.

You will need to have a note and mortgage prepared outlining the terms and conditions that have been accepted by you and the buyer. You will also want to obtain financial, credit, employment and any additional information your feel is important to know about the buyer before agreeing to holding financing.

How can I help?

I can assist buyers and sellers with completing the purchase contract, listing contract and accompanying addendum that deal with owner financing. Contact me for an initial no obligation consultation.

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Buying a condo

When buying a condo, the seller should provide you with specific documents no later than 3 days from the effective date of the contract. These documents are the condominium documents that are the most current, a question and answer sheet, current year end financial information and any amendments that have been recorded.

Condo disclosure

When buying a condo you and the seller will initial a condo disclosure that discusses your right as the buyer to receive these documents.

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Should the home buyer tax credit be extended?

There is strong support from real estate agents for the Government to extend the tax credit for buying a home. The current tax credit for the first time home buyer is scheduled to end on December 1st.

One benefit of extending the tax credit

One possible benefit I can see for extending the tax credit involves the short sale contingency listing inventory. With the current tax credit set to expire, buyers may not be as willing to make offers on homes listed with a short sale contingency due to the length of time it often takes for a short sale transaction to close. Some buyers could find themselves missing out on the up to $8,000 tax credit simply because the home they fell in love with was subject to a short sale. Extending the tax credit will allow buyers to choose homes from all available without fear of missing the deadline.

Win Win Win

Extending the tax credit will result in additional first time home buyers taking advantage of this unique opportunity to own a home. Listing inventory will be reduced, including short sale listings to the benefit of distressed sellers and overall market conditions throughout Florida and the rest of the country should continue to improve.

What do you think? Should the home buyer tax credit be extended?

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List of short sales

The market has a good supply of homes listed for sale with the short sale contingency. The fact that these homes can often be purchased at competitive prices make them very attractive to first time home buyers and investors. It is because of this demand, I have decided to offer a list of short sales to qualified buyers who contact me. You will need to let me know the area and the price range that you are interested in and I will email you the latest listings.

Orange, Osceola, Polk, Lake, Volusia and Seminole

The market area I cover includes short sales listed in Orange, Osceola, Volusia, Seminole, Lake and Polk counties. The number of available short sales vary by county, as of this post the counties mentioned above have the following inventory.

• Orange County - 3184 listings
• Osceola County - 1199 listings
• Volusia County - 664 listings
• Polk County - 1039 listings
• Lake County - 617 listings
• Seminole County - 933 listings

These numbers are subject to change daily and are based on information from MFRMLS for the period September 6, 2009.

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Has it been your dream to own a Florida beach house?

Has it been your dream to own a Florida beach house?

There may never be a better time than now to realize your dream.

Real estate in Florida, including ocean property has not been priced this low in quite some time.

If you would like a sample of available beach property for sale, let me know the area you are interested in and your price range and I will forward you a list of homes and condos.

If you are buying a home make sure a qualified home inspector prepares you a home inspection report

If you are buying a home make sure a qualified home inspector prepares you a home inspection report. Their report should disclose material defects that you otherwise might miss.

The inspection report could include but not limited to; paved areas, walls, siding, trim, windows, doors, roof, garage, crawlspace if applicable, wood destroying organisms including termites, air and heating, electrical, plumbing, radon, lead base paint, asbestos, mold and Chinese drywall.

Buying a home without a qualified home inspection is a risk buyers should avoid.