6 out of 10 homebuyers in Kissimmee purchased a bank owned property

Through June 2009, 6 out of 10 homes purchased in Kissimmee were homes that were listed as bank owned. Homebuyers are selecting bank owned homes because of the competitive prices and faster turn around time when compared to purchasing a house subject to a short sale.

Sales of bank owned homes in the first 6 months of the year compared to the total number of sales for that month in Kissimmee are:

• January sold numbers included 159 bank owned out of 252 total sales - 63%
• February sold numbers included 159 banks owned out of 247 total sales - 64%
• March sold numbers included 243 bank owned out of 367 total sales - 66%
• April sold numbers included 241 bank owned out of 372 total sales - 64%
• May sold numbers included 263 bank owned out of 423 total sales - 62%
• June sold numbers included 275 bank owned out of 447 total sales - 61%

There are currently 375 bank owned property showing as having a pending contract and 263 properties showing as active.

NOTE: “Based on information from MFRMLS for the period (January 2009 through June 2009).”

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Mortgage fraud conviction could result in 170 years behind bars

A Florida couple that stole over $1 million from banks were recently convicted of mortgage fraud this month and now face 170 years in prison. Lured by the possibility of getting rich investing in real estate, victims handed over information to the couple that was used to perpetuate the scheme.

170 years behind bars is a long time. As a matter of fact, 1 day behind bars is a long time. Don’t do the crime and you won’t have to worry about doing the time. According to reports mortgage fraud is still prevalent today. If it sounds to good to be true or if you have reason to believe someone is trying to get you to be a part of a fraudulent mortgage transaction, report them by calling the State fraud hotline. 1-866-9-NO-SCAM


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Florida minimum wage is now $7.25 per hour

Q: What is the Florida minimum wage?

The minimum wage in Florida increased on Friday, July 24th to $7.25 per hour. This is an .04 increase of the previous rate of $7.21.

Source


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List a home subject to short sale in Poinciana

Subject to short sale

Do you own a home in Poinciana that needs to be sold with a short sale contingency? I can help. My office covers the Poinciana market area and we have listed and sold a number of homes that had to be sold subject to a short sale contingency.

So if you owe more that your Poinciana home is worth and you would like to list the home with a real estate company that knows how to handle short sales, contact me to speak with an agent.


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Condos at foreclosure prices

I received an email this morning with condos at foreclosure prices in the subject line. I’m assuming the meaning of the subject line is that there are condos for sale at very low prices right now in the market place. These foreclosure or low prices may have something to do with the increase of condos that have sold over the same time last year in Florida as reported by FAR.

Right now in my Central Florida market area there are just over 4000 condos for sale. Of the 4000, 1700+ are listed as in foreclosure, pre-foreclosure, bank owned or short sale. Distressed properties are often listed at prices that are perceived as good value by home and condo shoppers. Of course each market area is unique to itself. If you are shopping for a Florida condo, contact me to receive information on condos in your desired location.


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Is it difficult to buy a bank owned home or condo in Florida?

Do you owe more on your home than it is worth?

Many Floridians now find themselves upside down with mortgage balances higher than the current value of their home. When those same home owners are faced with a situation that requires them to sell their home, being upside down would seem to present a problem.

I may have the answer to this problem. Many home owners are not aware that given the right set of circumstances, some lenders will agree to accept less money from the owner than is owed on the mortgage! As a matter of fact I am involved with helping homeowners and banks reach a favorable payoff situation on a daily basis and I may be able to help you too.

Each case is different so it is important that I look at your specific situation to help determine your best course of action. You can contact me for a no obligation consultation. I may be able to help you sell your home even though you owe more than it is worth.


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I am afraid of bears

I am afraid of bears. I’ll admit it. The only type of bears that do not give me an icy cold tingling sensation and deep in the gut fear when I think about them are teddy bears and Yogi bear. I am sure my fear is irrational. I have read that the chances coming face to face with a bear are low.

My fear of bears started, oddly enough, while I waited to get a hair cut. The hairdresser provided magazines for customers to read and on that fateful day, I decided to read an outdoor magazine that had an article on humans being attached by bears. The article was graphic and included first hand accounts from those who had witnessed or experienced a bear attack. Reading it sent chills down my spine and from that day forward I have been afraid.

I felt the need to announce my fear for you because I just came across a news release from the Florida Fish and Wildlife Conservation Commission discussing Florida black bears. Yes, we have bears in Florida. No, I have never seen one. I have listed and sold property in Lake County where the owners of the property said they have seen bears roaming around. I made sure I never showed those properties alone and I always made a lot of noise whenever I had to visit the house alone thinking the noise would keep the bears away.

The news release told of a Lee County, Florida woman who encountered a bear while at work. The report says the bear bumped into her! Either instinctively or because she knew the proper actions to take when face to face with a bear, this woman was able to get away safely. According to a Florida Fish and Wildlife Conservation Commission officer if you meet up with a bear, you should; “Remain standing straight up; back up slowly; speak in a calm, assertive voice; do not run or play dead; and leave the bear a clear escape route.” Florida residents are also encouraged to; “remove or secure anything that might attract animals, such as garbage cans, pet food, birdseed, outdoor grills and compost bins’ in order to reduce the chances of meeting up with a bear.

I think those are great suggestions and will be sure to make sure my 6’4” frame is standing straight up if I ever meet a bear, provided I have not passed out.

Florida Fish and Wildlife Conservation Commission News Release

Florida real estate agents promote the healthy homes call to action as part of our business

The Florida Department of Health announced that they would be responding to the United States’ Surgeon General’s Call to Action to promote healthy homes. The goal is to reduce or eliminate health hazards found in the home.

As real estate agents we continually do our part in support of helping current and future homeowners maintain a healthy home. We strongly encourage buyers to conduct a number of professional inspections that might reveal problems with the home. These inspections can include, water testing, septic testing, mold inspections, Chinese drywall inspections, radon inspections, electrical inspections and pest inspections. These inspection reports often reveal issues that need repaired or remedied before the buyer closes on the transaction.

Additionally agents will encourage buyers and sellers to sign up for a home warranty plan. Having home warranty coverage on your home when selling or immediately after buying can provide a peace of mind that should a major issue develop that impact the homes condition, the owner will be able to quickly have the issue resolved at a minimal cost.

I support the government’s initiative to promote healthy housing. It is something that the agents and I do daily as part of our careers. If you are buying a home and want information on the inspection or home warranty process, contact me.

How do Florida residents file a housing discrimination complaint?

If you have attempted to buy or rent a home in Florida and feel like you were discriminated against on the basis of race, color, national origin, religion, sex, family status, or disability you can file a housing discrimination complaint.

There are several methods you can use to file a complaint including sending a letter to the following address.

Atlanta Regional Office of FHEO
U.S. Department of Housing and Urban Development
Five Points Plaza
40 Marietta Street, 16th Floor
Atlanta, Georgia 30303-2806

The letter needs to include your name and address, the name and address of the person or persons you have a complaint against, the property address you were trying to rent/buy, when the issue happened and a description of what happened.

There is also a number you can call, 800-669-9777 or you can visit HUD’s website and file the complaint online. Discrimination is illegal and should be reported.


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HUD has announced that it is offering $4 million in grant money

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Closing cost and down payment assistance for Florida home buyers with the help of the Government

The Government is trying to help those interested in buying a home by offering an opportunity for the first time home buyers to receive all or part of the first time home buyer tax credit in advance of closing.

While details are still sketchy, what is known is that local housing coordinator of the local counties will be responsible for the process.

Time is of the essence here as the ability to receive the tax credit will end on November 30th. I would encourage anyone who would like to find out if they qualify for this upfront Government down payment of closing cost assistance to contact me quickly for a one on one consultation.


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