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Local Home Prices Post Big Gains

by kathi on June 18, 2013

The Orlando Sentinel today reported good news for homeowners. Resale home prices have risen 23% since last May. However we all are wondering how far they can rise and are we due for a future bubble again!

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Will Home Prices Continue to Drop

by kathi on October 19, 2011

One story says “yes” others say they are “stabalizing”. Who is right? Each geographical area is different. You should get yourself a good real estate agent and make sure that agent is experienced in this market. There are great deals out there that are rock bottom. But you have to know the right areas. Below are two opposing views on the market. Don’t take a news story as solid when you read them. There is always a different spin. Get a Realtor that can guide you and help you make a good decision.

Triple Dip in Home Prices

It’s Time To Buy A House




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Some Thoughts on Short Sales Part 2

by kathi on October 18, 2011

One would think that the more you facilitate a short sale the better you become. Did I say “One would think!” Seems like each sale must stand on their own in these economic times. Just when the banks seems to have a process down, they change it. Once they get a good negotiator, she gets burned out and leaves. Once you get a deal approved, someone puts the paperwork on slow mode and all the numbers change. So is the world of short sales! I have told my clients that are selling their homes as a short sale, to expect the unexpected. Once a random seller has tried to pull something over on the bank, the bank will change a procedure.

Some banks will want paperwork notarized before closing, some at closing. Some want every bit of financial info about the seller they can get and others just ask for only bank statements. We try to make the process as organized as possible. But the bank is in control and definelty calls the shots.

We have had several closings that the sellers have called us to let us know that the bank actually submitted to the 3 credit bureaus that the loan was paid in full. There was no reference to a short sale. Others will show it was “settled for less than owed”. Unless you plan on filing bankruptcy, short sale is the best approach. Most banks are supportive of a short sale.

Even FHA and Freddie Mac are. They may demand it be listed for a specific amount but they will come down in price usually if an appraisal comes in lower.

Just remember that as owners, we sign paperwork stating we will stay only if we pay. The banks lent us money in good conscience. Now the market has dropped and everyone is stuck. 4 years ago the term “short sale” was unheard of. Today it is the norm. So make sure you get an experienced Realtor, who has done at least 10 sales on the listing side before you sign on the dotted line.

We are here to help.



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Some thoughts on Short Sales!!! Part One

by kathi on July 12, 2011

After closing about 30 short sales in the last 6 months, I feel like I have learned more than I ever wanted to on this subject. Not one or more educational classes or books on short sales will prepare you for the actual experience. I did want to make some comments about the journey I took to these closings. Hopefully they will help you if you are a buyer or seller.

Don’t be afraid of them!! I was………but as you wade through the bank requirements, rules, property values and personalities associated with the properties, it is all about peristance. We must be patient and we must do our research. It is not hard but it is time comsuming and annoying.

First, I want to tell all primary home owners that are thinking about selling your home on a short sale…….get yourself an experienced Realtor that has closed a dozen or so deals. With experience comes knowledge and guts. Yes GUTS. You know what you can and can’t do and you know how far you can push. So important in the short sale world.

Second, call your lender. Tell them you are thinking of selling your home. In 95% of the cases they will tell you to get a Realtor. You have to understand that the bank is taking a big hit on the mortgage. The banks want to get as close to market value for your home as they can. The banks are trying to recoup the losses. Investors will want to buy it. Florida is a beehive of activity for investors right now. But they want to buy at below market value. If the home does not sell for 120 -180 days the banks may be willing to compromise on the price.

Remember that you can stay in your home until closing. So this could be home for another 6 months or more. Be prepared to show the house. Allow the Realtor to put a lockbox on the house. We will make sue that the house is only shown with a Realtor present. It will be so much easier for you. If you feel more comfortable you can request that a possible buyer make an appointment first. We do this all the time. If there are a few minor repairs that need to be done that will make the home more pleasing, then go ahead and do that please. It will help us get the highest offer.  You want the highest offer so the banks loss in minimized.

I want to talk about the HAFA program in Part Two.

Thanks and enjoy!!



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Busy March for Orlando Home Sales

by kathi on May 9, 2011

So it seems home sales are picking up. There is still so many short sales and pre-forclosures out there but they are moving. March and April were very busy. Maybe it is the pent up demand. People have been waiting 2 years to purchase a home. They have been scared to buy, thinking they may end up under water yet again. But we are seeing a stabilization of the market. Not the substantial drops of last year. The HAFA program ( see archived article) is starting to run smooth. It is better undertood and we have all seen closings where our sellers have walked away with $3000. It does make you feel good when that happens. We are a long way from “normal” but we are moving in the right direction.

Below is a link to an article from the Sentinel.  The numbers are better. Looking forward to better days ahead for buyers and sellers alike.

Busy March For Orl Sales-1

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Market Pulse February 2011

February 15, 2011

Here are the stats and they do NOT lie. We are still in the midst of a declining market here in Central Florida. I talked to several homeowners last week. They are telling me that they have hung on for as long as they can. Their savings are depleted, the loan modifcations process is a nightmare [...]

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Read the full article →

Home Prices Slump- Fear of Double-Dip

February 9, 2011

We all have been talking about this for some time. The dreaded double dip! Of course, we all want to be very optimistic in this economy. However the facts are the facts. The real estate market is not changing much. The foreclosures are still very high, loan modifications are not happening and the job market [...]

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Merry Christmas!

December 8, 2010

I love this time of year. Even though it has been a tough economic time for this country….Christmas seems to bring out the best in so many. I appreciate all my frequent visitors and friends and family that have supported me. Please don’t hesitate to add comments (actual comments only please ) or requests for [...]

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Orlando in Unpleasant Position of Number One

December 8, 2010

Many cities love to be on the top of the list for many things. But Orlando is number 1 for foreclosures. Not what we want to hear. Below is the article from the Orlando Sentinel for you to read.
I would say enjoy, but…….:(

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Second Mortgages Tripping Up Short Sales

November 28, 2010

Two months ago, I would have disagreed with this article because after closing so many short sales, I had not run into this problem. Well, here I am telling you IT IS a problem. Last month a deal almost fell through. If the seller had not been able to borrow $1050 more the day before [...]

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