Lakeview Estates, Lake Worth Florida

––For Every Two Homes Available for Sale, There Is One “In The Shadows”––

2012-01-25T18:51:00.001-05:00

CoreLogic® (NYSE: CLGX), a leading provider of information, analytics and business services, reported today that the current residential shadow inventory as of October 2011 remained at 1.6 million units, representing a supply of 5 months. This was down from October 2010, when shadow inventory stood at 1.9 million units, or 7-months’ supply, but approximately the same level as reported in July

What if the Federal deficit was your household debt?

2012-01-20T07:04:00.001-05:00

Freddie Mac offers help for the unemployed

2012-01-06T17:24:00.001-05:00

Just this afternoon I received an email bulletin from Freddie Mac that may give some relief to unemployed individuals having difficulty making payments on a Freddie Mac loan. Here is a brief overview with a link to the actual Freddie Mac document I received: Freddie Mac, (Bulletin 2010-17), is introducing new forbearance requirements to provide a “short-term unemployment forbearance”

2012

2012-01-02T10:03:00.001-05:00

To help you celebrate and reflect here is a collection of quotes to start the new year. In the New Year, may your right hand always be stretched out in friendship, but never in want. -Irish toast Your Merry Christmas may depend on what others do for you … but your Happy New Year depends on what you do for others. -Author unknown Your success and happiness lies in you. Resolve to keep happy,

2011-12-24T05:32:00.001-05:00

Drawn by me…for you! Merry Christmas…Happy Holidays!

NAR…”OOPS”!

2011-12-24T05:20:00.001-05:00

I think it's time to tell everyone what I have known for a long time now...What the acronym NAR actually stands for. I know that they would like you to believe that it is 'National Association of Realtors', but the real truth, revealed to all recently is that NAR stands for: 'Numbers Aren't Real'! The NAR US Housing Home Sales Figures were artificially inflated by at least 11% per year for the

A Thanksgiving message to our readers

2011-11-23T15:10:00.001-05:00

2011-11-23T12:36:00.001-05:00

Click above to see the latest housing trends newsletter

2011-11-11T06:49:00.001-05:00

If they keep predicting a market bottom…eventually they’ll all be right!

2011-11-10T14:44:00.001-05:00

Just to say it at the outset of this post…why don’t any of the reporters, be it newspaper, online outlets or television, ever do any research and ask any tough questions when they continue to interview and quote the “experts” regarding housing? Case in point: Here is a headline of an article/interview of Zillow chief economist, Stan Humphries, 18 months ago: As Housing Market Nears

Home values…Negative equity…etc

2011-11-09T03:22:00.001-05:00

Nationally, on a year-over-year basis, Zillow reports that home values were down 4.4 percent with the Zillow Home Value Index at $171,500. Overall, this quarter could have looked a lot worse considering all of the economic headwinds and turbulence that materialized over the summer. In terms of strict fundamentals, housing affordability looks compelling with big resets in home value levels and

Have a loan with BofA? NOW IS THE TIME TO DO A SHORT SALE!

2011-10-22T16:45:00.001-04:00

If you have a loan with BofA and owe more on your loan than your home is worth…DO NOT WAIT…CALL ME TODAY (you’ll see why below) Below is a partial screen-shot of an email that I recently received from Bank of America. They are offering a MINIMUM of $5,000 paid to you, the short sale seller, at closing…and possibly as much as $20,000! BUT…we only have about 6 weeks to get started.

Think buying a bank-owned home is a good deal? Not so fast!

2011-10-20T09:57:00.001-04:00

We have always counseled our clients that when buying a bank-owned home there are many pitfalls and caveats...but this Massachusetts court decision casts a very dark shadow on foreclosure sales: I see many buyers and investors flock to foreclosures because they think that's where the best deals are...but considering the above risk as well as the fact that some of the overall

Ocwen rolls out a new loan modification for underwater borrowers

2011-09-30T04:20:00.001-04:00

Finally a lender gets a brain! Locally based Ocwen recently revealed a plan that incorporates many of the components of a loan mod/refinance that I suggested over a year ago: Reduce the loan amount to today's value, write off the ‘underwater portion’ over a number of years if the owners stays current on all mortgage obligation aspects, and if/when the home is sold, Ocwen will recoup some of

10 million more foreclosures in the pipeline

2011-09-20T19:16:00.001-04:00

In August, the Obama administration asked the housing industry for ideas on how to more efficiently sell or unload this overhang, and the Senate heard testimony from various housing players Tuesday. Roughly 10.4 million mortgages, or one in five homes with a mortgage will likely default if Congress refuses to implement new policy changes to prevent and sell more foreclosures, according to

Foreclosures ramp up: County's 13% jump the trickle before the dam breaks, experts warn

2011-09-15T07:01:00.001-04:00

More Palm Beach County homes received first-time foreclosure notices in August than the previous month, and experts warned Wednesday that the 13 percent increase is just a trickle before the flood. Statewide, new foreclosure filings were up 10 percent last month from July, according to findings to be released today by the Irvine, Calif.-based company RealtyTrac. Nationally, initial notices of

Canyon of the Souls

2011-09-08T07:15:00.001-04:00

Our sales manager, John Durante, is an accomplished drummer/musician. Just days after the 9-11 tragedy, John and his band wrote this tribute to the victims. Below is the video of John and his band performing that song.

Your 2011 proposed property tax bill…think it’s wrong?

2011-09-05T09:43:00.001-04:00

At the end of last week you should have received your 'proposed' 2011 Tax bill in the mail. If you haven't taken the time to open it up and dig into it...now is a good time to do that. I have put together a short video regarding the tax bill/appeal. September 16, 2011, is the deadline to file a petition with the Value Adjustment Board to challenge a property’s market value, classification, or an

Is Florida the Next Non-Judicial Foreclosure State

2011-08-24T16:05:00.001-04:00

Please forward this blog post to every Floridian that you know or share it on your Facebook page…if this gets passed, it will be devastating for tens of thousands of homeowners. It will, in essence, take away the right to challenge the banks foreclosure (fraudulent documents and all) AND includes a huge disincentive to foreclosure defense attorneys from even taking your case. If the mortgage

View all of the Fannie Mae foreclosed homes in Palm Beach County

2011-08-17T17:52:00.001-04:00

Click on the Fannie Mae image and you will be able to see all of the Fannie Mae foreclosures in Palm Beach County. If you are interested in seeing any of the homes on their list…call us at 561-432-5202 quickly as there typically are limited time periods for viewing/offers.

Palm Beach County Inlet webcams...

2011-08-09T17:36:00.002-04:00

I thought these were cool...just click on the image above...hope you enjoy them! Thanks for stopping by our blog.

Credit Ratings Downgrade for Fannie and Freddie Now?

2011-08-08T12:21:00.001-04:00

In what is shaping up to be an erratic trading day, the Dow has dropped below 3% in early trading after the latest news that Standard & Poor's downgraded the debt of mortgage finance giants Fannie Mae and Freddie Mac. It was widely expected that S&P's downgrade of U.S. debt would roll downhill to other entities that are closely linked to the federal government. Fannie and Freddie, which were

Major Lenders Offering Perks on Short Sales

2011-07-29T09:21:00.001-04:00

The nation’s leading mortgage lenders are extending extras for short sale transactions employed as an alternative to foreclosure – both in the form of monetary incentives for borrowers and streamlined procedures for real estate agents. Wells Fargo says it has been making “enhanced financial relocation assistance offers” that can be as much as $10,000 or $20,000 to certain borrowers who meet

The ultimate inside job!

2011-07-18T07:06:00.001-04:00

This is a must watch 3 minute video...

50 to 1

2011-07-10T09:01:00.001-04:00

A recent report by LPS (Lender Processing Services) stated that there were 4,084,557 mortgages 90 or more days delinquent or in foreclosure as of the end of May. Contrast that with actual foreclosure sales at 78,676 at month end, the volume of seriously past due loans over-shadowed the number of completed foreclosures by 50 to 1, according to LPS’ May Mortgage Monitor report released last

July 4th, 2011

2011-07-03T10:54:00.001-04:00

I am well aware of the toil, and blood, and treasure, that it will cost us to maintain this declaration, and support and defend these states. Yet, through all the gloom, I can see the rays of light and glory; I can see that the end is more than worth all the means, and that posterity will triumph. John Adams, letter to Abigail Adams, July 3, 1776

Read our blog…be the first to know!

2011-06-29T12:17:00.001-04:00

Give me a call today if you are interested in this pre-approved short sale...it is not on the market yet, but will be soon. It is in great shape and is an excellent value. So if you want the first opportunity to view this home, call me right away: 561-602-1258

NAR's Yun has just entered...The Twilight Zone

2011-06-21T13:29:00.001-04:00

Today, the stock market surged on DECLINING home sales...the 'market' expected the Natl Assn of Realtors report to come in at 4.8M, instead it came in at 4.81M and everyone is ecstatic! Last months sales were originally reported at 5.05M...but revised downward to 5.0M- (a common tactic...and watch, the 4.81 will get 'revised down' at some point). And the NAR chief economist,

Happy Fathers Day

2011-06-19T07:12:00.001-04:00

To a child…LOVE is spelled TIME. Click on the photo above…it will take you to see a touching and insightful 2 minute video about what is most important to your kids. Blessings to all of the Fathers out there.

Bankruptcy Basics Video Series

2011-06-14T05:20:00.001-04:00

Questions about bankruptcy come up at a majority of my appointments with sellers who are upside down on their homes and trying to explore their options. I always defer to the experts on the subject: bankruptcy attorneys. But, I recently came across this series of helpful videos that will give homeowners a basic understanding of the various bankruptcy options. Just click on the video, below. You

Home price plunge coming - Shiller - Jun. 9, 2011

2011-06-10T07:05:00.001-04:00

NEW YORK (CNNMoney) -- In an off-hand remark before cameras and microphones, economist and housing market guru Robert Shiller opined earlier this year that he would not be shocked if there was another 10% to 25% in the nation's home price plunge -- and he's not backing down from that statement. At a S&P Housing Summit in New York, Shiller on Thursday reiterated his fears of falling home prices.

It's Official...

2011-06-03T08:45:00.001-04:00

The house price collapse is now worse than it was during the Great Depression. That astonishing piece of information comes from the researchers at the think tank ‘Capital Economics’. It follows Tuesday's news from Case-Shiller that house prices fell again in March, as the double dip gets worse. Writes Capital Economics' senior economist Paul Dales, "On the Case-Shiller measure, prices are now

Memorial Day 2011

2011-05-28T19:43:00.001-04:00

"Your silent tents of green We deck with fragrant flowers; Yours has the suffering been, The memory shall be ours." - Henry Wadsworth Longfellow -

Happy Mothers Day

2011-05-08T07:21:00.001-04:00

Short sale, foreclosure and credit score

2011-05-01T06:30:00.002-04:00

Below, taken directly from an article recently published on the FICO® Banking Analytics Blog Research looks at how mortgage delinquencies affect scores; How much impact does a short sale have on FICO® Scores? How about a foreclosure? Since I frequently hear these questions from clients and others, I thought I’d share new FICO® research that sheds light on this very subject. The FICO® study

2011-04-24T08:33:00.001-04:00

Do you have a Freddie or a Fannie?

2011-04-19T18:19:00.001-04:00

Each GSE as well as each lender has their own rules and guidelines regarding if and how they will proceed with a short sale. If you are “upside-down” on your home and want to start exploring your options, one of the first things you’ll need to do is to check if you have a GSE loan. I have provided 2 links below to help you out. Freddie: https://ww3.freddiemac.com/corporate/ Fannie: http://

Foreclosure Backlog Stands at Thirty Times Monthly Foreclosure Sales Volume

2011-04-04T05:05:00.001-04:00

The ‘shadow’ market is not in the shadows any more…it’s becoming plainly visible…and the numbers are staggering. According to a report released recently by Lender Processing Services, “foreclosure inventory levels are at 30 times monthly foreclosure sales volume.” As a result of this massive backlog, we can expect more downward pressure on home values. The statistics on the homes not yet owned by

Thinking of just “walking away” from your house?

2011-03-30T14:41:00.001-04:00

DON’T DO IT! A recent study estimates that 36% of Americans think walking away is a viable option when they owe more on their home than what it is worth. But few are aware of the severe financial consequences of these actions, and even fewer know the options available to avoid these consequences. If you are at the crossroads of deciding whether or not to walk away (or “strategically default,”)

Nearly 20% of Florida homes are vacant - Mar. 18, 2011

2011-03-19T10:16:00.001-04:00

NEW YORK (CNNMoney) -- It's not always easy to feel sorry for sunny Florida. But they just got hit with another blow. On Thursday, the Census Bureau revealed that 18% -- or 1.6 million -- of the Sunshine State's homes are sitting vacant. That's a rise of more than 63% over the past 10 years. Having this amount of oversupply on the market will keep home prices depressed and slow

90 Day Guaranteed Sale Program? There’s NO free lunch!

2011-03-01T04:10:00.001-05:00

Once again, I have started to see this being promoted by mail and on the radio. "If we don't sell your house in 90 days...WE'LL BUY IT!" Sounds great...especially in this market. Worth checking out? That's what the agent is hoping you'll think. Get their phone to ring...but they'll most likely never discuss the details over the phone..."much to complicated and need to see your home to see if

Large housing inventories to be sold at deep discounts in 2011…and other stories

2011-02-22T07:22:00.001-05:00

From recent HousingWire news and other sources: (all italics mine) Foreclosure filings and completed foreclosures will reach record levels this year, after lenders exhaust alternatives such as mortgage modifications (which have been hugely unsuccessful)…Analysts expect increased losses to residential mortgage-backed securities, as a result, because large inventories of foreclosed homes will

I'll just let the bank take it...what's the harm.

2011-02-15T13:08:00.002-05:00

Courtesy of our friend and expert real estate attorney, Richard Zaretsky, comes this article that addresses a question that we get from everyone who is upside down or behind on their mortgage...(thanks Richard) In the series of questions I get when interviewing a potential client who is upside down on his or her mortgage, one question always asked (especially after I quote my fee) is "What if I

Making your mortgage payments to BofA? GOTCHA!

2011-01-25T06:00:00.001-05:00

Bank of America has recently (and quietly) redefined their “grace period”. When is a grace period not really a grace period? When you have to pay a $6 fee for using it. In a nutshell, you’ll have 6 fewer days of the old grace period to make your payment without being charged additional fees. Consumers who use the bank's online payment tool, Mortgage Pay, will be subject to a $6 fee if

Shadow inventory threatens housing recovery

2011-01-21T06:14:00.001-05:00

NEW YORK (CNNMoney) -- There is a growing glut of foreclosed homes threatening to hit the market over the next couple of years, potentially delaying any recovery. There were 1.7 million homes either owned by the bank or in some stage of foreclosure at the end of the third quarter of 2010, according to a recent report by Standard & Poor's. It would take 44 months, at the current rate of sales

Florida is one of the eight-states-running-out-of-homebuyers

2011-01-20T04:45:00.001-05:00

by Douglas A. McIntyre, Michael B. Sauter and Charles B. Stockdale Tuesday, January 18, 2011 provided by The single biggest problem in the U.S. real estate market is simple: There are very few homebuyers. That seems obvious, but the "buyers' strike" has caused house prices to drop, along with an epidemic of foreclosures. What's worse, the long depression in real estate is probably not

Top lenders set for foreclosure settlement: report | Reuters

2011-01-04T12:35:00.001-05:00

And so it has come to pass..even the state Attorneys General are in the pocket of the TBTF financial institutions. The Attorneys General , on behalf of Fannie and Freddie, have ‘settled’ with the five biggest TBTF banks, for ‘future losses’ from the fraudulently written, fraudulently packaged, fraudulently rated and sold loans. Possibly the biggest fraud ever perpetrated will now, effectively,

Palm Beach County Bar Association - Residential Mortgage Foreclosure Mediation Program

2011-01-03T04:25:00.001-05:00

Below, from the Palm Beach County Bar Association website, I have the details, forms and FAQ’s regarding the Florida State Supreme Court mandated pre-summary judgment mediated meeting between the foreclosed-upon homeowner and their lenders representative… What is foreclosure? Foreclosure is a legal process by which the mortgage holder causes the judicial sale of the secured real estate to

StreetInsider.com - Schiff: Look Out Below! Home Prices to Fall Additional 20%

2010-12-30T12:24:00.001-05:00

A ‘Happy New Year’ news story from Peter Schiff…one of the earliest predictors of the ‘pop’ of the housing bubble. December 30, 2010 10:50 AM EST According to Peter Schiff, the recent drop in home prices is unnerving, but there is still another 20% drop to go before we reach a historical trend line. (emphasis mine) Schiff notes that some economists anticipate a further correction, but most

A little Christmas gift for all of my blog readers in Lakeview Estates

2010-12-22T13:23:00.001-05:00

I have put together a report...a quick read...with many interesting stories and details regarding the origins of contemporary Christmas Traditions. Click on the image and read or download the entire booklet if you like. Feel free to pass it along to others too!

Has anyone seen my $3.3 Trillion?

2010-12-08T05:54:00.002-05:00

Now, you and I might lose track of where we spent that $20 bill we had in our pocket...but Mr. Bernake can't seem to remember where he spent (our) $3.3 TRILLION! Courtesy of my friends, Brian and Frank, at Think Big, Work Small

A Thanksgiving wish

2010-11-25T08:41:00.002-05:00

Finally! One of the big guys admits it!

2010-11-22T11:57:00.002-05:00

Thanks to the NotoriousROB blog for the heads-up on this video. Keep in mind while you watch this that this is a Keller Williams agent recruiting video... And this is why I opened a small, personalized office long ago...I realized that it was me, my wife and our like-minded agents that our clients were hiring...not some company logo. I don't think many realty companies, large or small, make

There's no free lunch

2010-11-19T12:00:00.003-05:00

I have started to see this being promoted recently by mail and on the radio. "If we don't sell your house in ___days...WE'LL BUY IT!" Sounds great...especially in this market. Worth checking out? That's what the agent is hoping you'll think. Get their phone to ring...but they'll most likely never discuss the details over the phone..."much to complicated and need to see your home to see if it

I hate to say "I told you so"...but

2010-11-13T19:19:00.002-05:00

"GET READY FOR THE GREAT MERS WHITEWASH BILL" "Wall Street money is pouring into the coffers of those who are receptive (i.e., almost everyone in Congress). The legislation is already being drafted under the interstate commerce clause to ratify MERS and everything it did retroactively. It appears that the Obama administration is ready to pardon all the securitization deviants by signing this

That is one heck of a 5 o’clock shadow

2010-11-05T04:44:00.002-04:00

Standard & Poor’s, known as a leader of financial market intelligence, has revised estimates for when we can expect this much-talked-about shadow inventory to clear up. S&P now estimates that it will take 41 months—or nearly three and a half years—to get through and sell off all that shadow inventory lurking in the national real estate market background.This number is up drastically from it’s

Check out my video-tip blog...lots of useful info

2010-10-31T07:03:00.000-04:00

Just click on the image above

Jon Stewart gets to the bottom of this foreclosure mess!

2010-10-25T02:01:00.001-04:00

Be forewarned...this IS a Jon Stewart video...make sure no one easily offended is watching over your shoulder!

Foreclosures gone wild...the trilogy.

2010-10-25T01:57:00.002-04:00

Rather than repeat the entirety of all three recent posts that attempt to explain this recent foreclosure mess/fraud...here are the links to the actual posts over on my Winston Trails blog. Foreclosures Gone Wild 1 Foreclosures Gone Wild 2 Foreclosures Gone Wild 3

U.S. Home Prices Face 3-Year Drop as Inventory Surge Looms - Bloomberg

2010-09-20T12:03:00.001-04:00

The slide in U.S. home prices may have another three years to go as sellers add as many as 12 million more properties to the market… “Whether it’s the sidelined, shadow or current inventory, the issue is there’s more supply than demand,” said Oliver Chang, a U.S. housing strategist with Morgan Stanley in San Francisco. “Once you reach a bottom, it will take three or four years for prices to

WHY IS THE BANK FORECLOSING IF I AM DOING A SHORT SALE (OR LOAN MODIFICATION)?

2010-09-16T05:34:00.001-04:00

A local attorney who counsels many of our clients, Richard Zaretsky, has just posted this excellent article on his blog. It answers the very common, but perplexing question posed above. Do We All Have A Common Goal? Do all short sellers cooperate with the short sale process? The answer is a resounding NO. The short seller is typically living in the house "for free" and is not all that

Freddie Mac estimates home sales to fall another 23% in 3Q

2010-09-14T11:35:00.001-04:00

Below are a few of today’s housing industry headlines: Freddie Mac expects 4 million new and existing home sales in the third quarter, a possible 20.7% decline from last year and 23% drop from the previous quarter. Kondaur (distressed note buyer) chief executive Jon Daurio joined Moody's Investors Service analysts saying he expects prices to fall another 20%…Daurio said he expects the

Thinking about pursuing a loan modification? In the middle of a loan modification negotiation? Read this...

2010-09-10T06:55:00.002-04:00

Working on the inside of this industry, it is easy to see through the smoke and mirrors being used by the TBTF (too big too fail) lenders when it comes to "extend and pretend". They will do what is in THEIR best interests regardless of public statements to the contrary. I have seen too many borrowers taken advantage of when attempting to negotiate a forebearance or loan mod without professional

FDLE Florida Sexual Offenders Search

2010-09-09T09:09:00.001-04:00

You can search for sexual predators by zip code via the link below: FDLE Florida Sexual Offenders and Predators - Offender Search

Experts and news outlets surprised: Home sales plunge!

2010-08-24T15:03:00.001-04:00

But if you read this blog…YOU shouldn’t have been surprised at all. I have been counseling my sellers for many months now…you want to be the NEXT home to sell! Here are some snippets from some of today's press releases: 1) Sales of previously occupied homes plunged last month to the lowest level in 15 years, despite the lowest mortgage rates in decades and bargain prices in many areas. July's

Foreclosures in Lakeview Estates...as of 8/4/10

2010-08-05T07:16:00.000-04:00

Lots of homes in foreclosure in Lakeview Estates...and more to come. Now, just because I report them as "foreclosures" does not mean that they are owned by the bank and are for sale for pennies on the dollar....at least not yet. What it means is that these homes have a Lis Pendens filed on them. From Nolo Law Dictionary: Lis Pendens: Latin for "a suit pending." A written notice that a lawsuit

Inflation? Deflation?

2010-07-23T05:42:00.001-04:00

Every day, from cable news to the local paper, we are told that inflation is coming...then the next expert says we are in a deflationary spiral...what does it all mean and whom do we believe? It would seem that everyone is right...here is the best and easiest to explain/understand definition/comparison-contrast of inflation and deflation: I've seen some quotes equating to deflation as the

Mortgage applications at a 13 year low...so why is that important?

2010-07-15T06:36:00.002-04:00

The Mortgage Bankers Association reported that demand for loans to purchase U.S. homes sunk to a 13-year low last week, and refinancing demand also slid despite near record-low mortgage rates. Requests for loans to buy homes dropped 3.1 percent in the week ended July 9, after adjusting for the Independence Day holiday, to the lowest level since December 1996, the Mortgage Bankers Assn. said....

A 4th of July gift for you...

2010-07-04T05:57:00.000-04:00

Here is a wonderful acapella version of our national anthem

Disastrous home sales report - July 1, 2010

2010-07-01T11:47:00.001-04:00

The experts expected home sales to drop once the homebuyer tax credit lapsed at the end of April, but the depth of the decrease was shocking (only to the “experts”). According to the National Association of Realtors (NAR), pending home sales fell a whopping 30% in May. Their index, which measures signed sales contracts but not closed sales, plunged to 77.6 from 110.9 in April. It's even off

2010-06-20T07:06:00.001-04:00

Lakeview Estates market activity recap...on-the-market, sold and under contract

2010-06-06T07:58:00.001-04:00

Only 1 reported sale in the past 30 days: 6514 Blue Bay: Aspen, pool...Short Sale...Sold @ $250k There have been just 7 reported sales in the previous 12 months. 2 Short Sales 2 Foreclosure Sales 3 traditional sales There are 4 homes currently on the market: Acupulco, pool @ $329k...53 days on the market Sanibel, lake, pool @ $385k...9 days on the market Riviera, lake @ $215...73 days on the

What is everyone searching for?

2010-06-01T05:55:00.000-04:00

Recently there has been a ton of good news being reported in the real estate segment. Resale home sales were up huge...new home sales were up big too...every talking head is predicting the end of the housing slump. Not so fast. I have done some research regarding some little publicized web traffic statistics, and that tells us..The Rest Of The Story! The company, Hitwise, a web-traffic analysis

Foreclosures in Lakeview Estates

2010-05-25T17:36:00.001-04:00

As of today, there are 9 Lakeview Estates homes in some stage of foreclosure. (on 4/1 there were 7) 3 on Blue Bay 2 on Windy Preserve 2 on Brickyard 1 on Hudson Bay 1 on Turtle Point

Short Sale Myths

2010-05-13T12:13:00.002-04:00

Short Sale Myths De-Bunked RISMEDIA, May 13, 2010—With short sales making up almost 35% of home sales in March and the country with a national foreclosure problem, I Short Sale, Inc., one of the largest short sale firms in the U.S., sets the record straight on common short sale myths. 1. You must be default on your mortgage to negotiate a short sale. Short sales are not a function of default

2010-05-09T06:25:00.003-04:00

Lakeview Estates market activity

2010-05-04T11:40:00.001-04:00

Sold 1) Paramount Palm Beach Plus 5, pool, lake - $365,000 Under Contract 1) Short Sale Aspen, pool - $299,000 asking price 2) Riviera, lake - $315,000 asking price On The Market 1) Short Sale Riviera, lake - $305,000 asking 2) Antigua, pool - $329,900 asking 3) Acapulco, pool - $343,000 asking 4) Aspen plus 5, lake, pool - $384,999 asking 5) Palm Beach, lake, pool - $390,000 asking

CBS The Early Show...Rebecca Jarvis; Selecting a real estate agent

2010-04-23T08:50:00.002-04:00

Yesterday, Rebecca Jarvis on CBS The Early show did a piece on how to avoid the common mistakes in selling real estate...her #1 mistake: Picking a bad agent But, through lack of research or lack of expeirence she failed to give any concrete advice on how to judge if you are picking a good agent or a bad agent. The best advice is be diligent and careful when hiring an agent...you won't know you

A rundown of the new HAFA initiative...

2010-04-07T05:57:00.004-04:00

Monday, April 5th, was the 1st day, officially, of the new government sponsored intiative, HAFA: Home Affordable Foreclosure Alternatives. HAFA was introduced to simplify and streamline the short sale process and to provide incentives for the homeowner, loan servicer and lender/investor. We have already received specialized, in depth training on this new program and will briefly summarize the

2010-04-04T06:16:00.001-04:00

Foreclosures in Lakeview Estates

2010-04-01T05:43:00.001-04:00

As of 4/1/10 there are 7 Lakeview Estates homes in some stage of foreclosure. 3 on Blue Bay 2 on Windy 2 on Brickyard

Foreclosures: Housing defaults soar in Palm Beach County

2010-03-16T16:55:00.002-04:00

From January to February of this year, foreclosures in Palm Beach County jumped 63%...and year over year they were up 68% in February... click here to read the full story

Lakeview Estates market activity recap...on-the-market, sold and under contract

2010-03-06T06:29:00.001-05:00

There is currently only 1 home on the market...it is an Antigua with a pool at $339k. It has been on the market for 137 days. There is 1 property with a contract pending...it is an Aspen with a pool, Short Sale, last asking price of $299k. There were 2 reported sales in the last three months: 1) Aspen - Corporate Relocation - $270,000 2) Aspen - Bank Owned - Pool - $233,000 Then there were 3

CNN Money reports 25% home price decline ahead for our area!!

2010-02-28T10:28:00.000-05:00

Take a look at this eye-opening post on our Winston Trails blog...If you're a home owner, you NEED to read it. Just click right here

New credit card rules to take effect soon...H.R. 627

2010-02-10T01:06:00.000-05:00

The Credit Card Act of 2009 phases in, with the majority of consumer protections kicking in Feb. 22, 2010. If you are into reading lengthy government documents, click on the blog post title ( or the link below) and you will be redirected to the 33 page, HR 627 document entitled: ‘‘Credit Card Accountability Responsibility and Disclosure Act of 2009’’ If you'd rather just see a brief summary...

The next chapter in the book entitled: The housing crisis..what they DON'T want you to know!

2010-02-03T06:27:00.004-05:00

On our main blog, I just posted an eye-opening entry which details the reasoning behind the likelihood of a "second leg down" in local home values...rather than duplicate the entire post here, just click here or on the post title to read the entire post. Thanks...Steve Jackson

Lakeview Estates market activity recap...sold and under contract

2010-01-26T04:26:00.001-05:00

In the past 90 days there has been 1 recorded sale in Lakeview Estates, that sale was a "bank owned" home. There are currently 3 homes under contract. 1 of the 3 under-contract homes is a short sale. 1) Extended Aspen/Pool...sold for $223,000 2) Aspen under contract 3) Aspen under contract...short sale 4) Aspen under contract

IRS says "sorry, you can't file for your tax credit"!

2010-01-15T05:10:00.002-05:00

NEW YORK (CNNMoney.com) -- Did you purchase a home after Nov. 6? Don't expect your $8,000 homebuyer tax credit any time soon. Since Congress passed the initial tax credit last February... more than 1.4 million buyers have taken advantage of it...But that all changed on Nov. 6...it appears that the IRS has NOT ALLOWED ANYONE TO FILE since November 6th... Congress extended the credit to include

Price reduction...

2010-01-08T12:43:00.000-05:00

I know WHY agents do this, but I've always thought...why bother? An Antigua that was previously priced at $344,900 just reduced their price to $343,779. I would like email or comments from buyers out there...would this type of a price reduction on a home compel you to: 1) Go to see the home now if you didn't go when it was priced at $344,900? 2) If you had already seen the home but did not make

Industry insiders expecting home prices to resume fall...

2010-01-04T20:58:00.000-05:00

NEW YORK (CNNMoney.com) -- After four months of gains, home prices flattened in October. Worse yet, industry insiders think that they'll soon start to fall. Prices have risen more than 3% since May, according to S&P/Case-Shiller. But most forecasts predict price declines in 2010, with possible losses ranging from anywhere from 3% on up. Fiserv Lending Solutions, a financial analytics firm,

Price reduction

2009-12-28T16:33:00.000-05:00

An extended Aspen that was placed on the market 24 days ago at $280,000 has just reduced their asking price to $270,000. This home was originally placed on the market in August of this year at $335,000...subsequently reduced to $290,000, but the listing agreement with that agent was cancelled and the home was re-listed with a new agent at the $280,000 price this month. The sellers purchased the

Merry Christmas Freddie and Fannie...from us, the taxpayers!

2009-12-28T16:21:00.002-05:00

In an oddly timed move, on Christmas Eve The Treasury announced what essentially amounts to a blank check for the potential bad debt of Fannie Mae and Freddie Mac. Prior, the Treasury had a $200 Billion (each) limit on bailing out the "insolvent" mortgage lenders. At the present time, the two, combined have drawn down a little over $110 billion of the approved $400 billion. Makes you wonder

FHA, 1st time buyers, short sales and perceptions...

2009-12-23T12:50:00.001-05:00

Nearly 40% of existing homes purchased in November used an FHA-insured mortgage, according to a National Association of Realtors survey. As a result, the FHA is having to defend the program, saying that it is well enough capitalized to avoid any major losses in case of surging defaults. Earlier this month, Department of Housing and Urban Development secretary Shaun Donovan was before Congress

A Bank-Owned property has sold...

2009-12-14T12:15:00.000-05:00

The bank foreclosure on Blue Bay (an Aspen 5) closed on 12/11/09 The bank priced the home at $285,000, however the final selling price was $223,000 with the bank accepting a cash deal. The home was on the market for a total of 48 days. The prior owner paid $450,000 for the home in December of 2006 and it appears that the purchase was 100% financing (80/20).

Price reduction

2009-12-10T11:37:00.000-05:00

An Antigua (floorplan on the left), on Blue Bay, that was placed on the market on October 20th at $349,900 has reduced their asking price to $344,900.

Aspen on the market

2009-12-04T14:05:00.000-05:00

An Aspen with a pool on Blue Bay has just gone on the market as a short sale, priced at $299,000. The current owners purchased the home in March of 2005 for $422,500. Back in 2007/2008 the current owners had the home on the market at $421,400 however after 6 months at that price, the listing expired. Doing a little research reveals that back in early to mid 2008, an Aspen with a pool may have

Sample of some of the video marketing we have done recently

2009-12-01T18:19:00.001-05:00

Some must-read stats...

2009-11-24T16:00:00.002-05:00

According to a CNNmoney.com report today, nationally, 1 in 4 mortgages is currently “under water”. That comes to almost 11 Million homes where the owner owes more than the home is worth. The majority of underwater mortgages are heavily concentrated in five states that have particularly suffered from the housing bust: Nevada, at 65%; Arizona, at 48%; Florida, at 45%; Michigan, at 37%; and

Foreclosure goes under contract

2009-11-13T16:56:00.000-05:00

The Aspen 5 model on Blue Bay that was taken back by the bank and placed on the market September 26th has just gone under contract...The owner that lost the home to the bank purchased it in December of 2006 for $450,000, and the Palm Beach County Courthouse records indicate that it was a 100% (80/20) loan....The big loser here looks like the bank.

Aspen price reduction

2009-11-10T17:52:00.003-05:00

An expanded Aspen that was originally priced at $335k back in August has just reduced their asking price to $290k. This home is NOT being marketed as a short sale.