Tampa All Things Real Estate

Tampa Bay Home Values Drop...

Christopher Johnson Realtor, CDPE (RE/MAX Realty Unlimited) — Tue, 10 Nov 2009 17:20:55 -0600

Today, November 10, 2009 I read in the St. Pete Times that the Tampa Bay are home values have dropped according to Zillow 2.2% between June 30 and September 30. Some of the most depreciated values were in Spring Hill, Dade City and Ruskin.

Now, despite this news the report also stated that some of the 110 communities in Tampa actually saw prices increase in their communities. These communities include Feather Sound and Lutz and Odessa which have always maintained high values. Mostly due to the fact that during the boom years, these communities did not experience rapid growth. I would expect more established communities that are closer to employment or commutes to downtown Tampa or Pinellas Gateway area will continue to see prices stabilize and eventually creep up on a more consistent basis.

Back to the rest of the Tampa Bay! Communities that were built during the boom years like Wesley Chapel, Riverview, Apollo Beach and Ruskin will continue to drop slightly before any stabilization can occur. These homes have dropped in value since 2005 nearly 40% on average. Many of these homes were purchased by investors or speculators who entered the market to soon. There is also an increase of strategic walk-aways.

Foreclosures are still areound and will be here for quite awhile but the dooms day predictions of home prices dropping another 20-30% are too high and most like not going to happen. Now could the Tampa market continue decline? Certainly but it will only in certain communites. The first stage of recovery is among us!

Christopher Johnson

RE/MAX Realty Unlimited

Office (813) 654-5549

Toll Free (800) 237-3488

Fax (813) 689-5967

Visit Us on The Web at http://www.chrisjohnsonrealestate.com/

Search MLS Listings at http://www.metrotampamls.com/

Find A Foreclosure at http://tampabankproperties.com/

Follow Me on Twitter http://twitter.com/ChrisJohnsonRE

Short Sales Explained

Christopher Johnson Realtor, CDPE (RE/MAX Realty Unlimited) — Fri, 23 Oct 2009 14:20:00 -0500

There are still many home owners that are facing finacial hardship in the Tampa area that seem ready to walk away from their home and accept a foreclosure. I can only believe it is because these home owners are not aware of their options. You can find more information regarding short sales and the benefits of a short sale over foreclosure at www.tampabayforeclosurehelp.com

A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy and the Obama administration have also improved the chances of getting a short sale approved.

But to be technical, here's a more official definition:

A homeowner is 'short' when the amount owed on his/her property is higher than current market value.
A short sale occurs when a negotiation is entered into with the homeowner's mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the property, and the property is then 'sold short' of the total value of the mortgage.

For homeowners to qualify for a short sale, they must fall into any or all of the following circumstances:

Financial Hardship - There is a situation causing you to have trouble affording your mortgage.
Monthly Income Shortfall - In other words: "You have more month than money." A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
Insolvency - The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.

This seems simple enough, but it is a complicated process that takes the expertise of experienced professionals. I hold the CDPE® Designation and am ready to identify all possible options and, when possible, assist in the quick execution of a short sale transaction.

If you have questions or feel you may qualify for a short sale, please contact me for a free consultation.

Understanding your options now could mean all the difference in the world.

Christopher Johnson is a Certified Distressed Property Expert in Tampa, Florida. Please contact Chris @ ChristopherJohnson@remax.net or direct at 813-654-5548

Christopher Johnson

RE/MAX Realty Unlimited

Office (813) 654-5549

Toll Free (800) 237-3488

Fax (813) 689-5967

Visit Us on The Web at http://www.chrisjohnsonrealestate.com/

Search MLS Listings at http://www.metrotampamls.com/

Find A Foreclosure at http://tampabankproperties.com/

Follow Me on Twitter http://twitter.com/ChrisJohnsonRE

You want to list your home for home much?

Christopher Johnson Realtor, CDPE (RE/MAX Realty Unlimited) — Tue, 15 Sep 2009 09:49:06 -0500

I have gone on many listing appointments lately and I guess some folks are reading the newspapers and seeing that real estate sales are up in the Tampa area and are thinking of selling. What also is found in the same news article is the fact that the median price has dropped nearly $100,000 and homes are selling for so much less than they did in the "boom" years. Why do I assume this...because the last few appointments I have gone on, the seller's want to sell there home well beyond and recent comparable I could find. Now, we all know that somebody will list it for whatever price and then start beating the seller down to lower the price. However, I do not believe in this school of thought.

The number 1 comment I seem to get is "I don't have to sell" which tells me that the seller is not really motivated and may need to hold on the home for a little while longer or at least until the market rebounds or the world ends...whichever comes first! Now, you may think I shouldn't back down and continue to "prove" to the seller that the home should be listed at xyz price and get that listing. I think that is rubbish and I will tell you why.

1. The seller is not really motivated to sell

2. The seller is not realistic about the price which means you will most definitely over price the house.

3. It cost money to list a home..from signs to lock boxes and virtual tours. This is money you have to spend upfront. Whey spend dollars that you may not have to spend on the slim chance of selling the home. A sign in the yard is not worth it....unless you can add a SOLD sign to it!

4. After 4 or 6 months of the home being on the market with very little activity the seller will most likely think you are the worst agent in the world and will talk badly about you. Again, not working for you but against you.

Next time you are at that listing appointment and the seller is really not motivated and "doesn't have to sell" think about how far apart you really are and proceed with caution. Sometimes the sign is just not worth it!

Christopher Johnson

RE/MAX Realty Unlimited

Office (813) 654-5549

Toll Free (800) 237-3488

Fax (813) 689-5967

Visit Us on The Web at http://www.chrisjohnsonrealestate.com/

Search MLS Listings at http://www.metrotampamls.com/

Find A Foreclosure at http://tampabankproperties.com/

Follow Me on Twitter http://twitter.com/ChrisJohnsonRE

Tampa's Home Selling Hints and Promotion Ideas

Christopher Johnson Realtor, CDPE (RE/MAX Realty Unlimited) — Tue, 08 Sep 2009 13:46:48 -0500

Today is Tuesday September 8th. The Labor Day weekend was great. I actually took a break from work and spent nearly the entire weekend with the family. I know, I said nearly but I had to go to a new listing appointment on Monday and that is the only day I was able to meet with the sellers. The appointment went well and if you are looking for a big pool home on an acre in suburban Tampa or know someone who is, give me a call.

While away from the business this weekend, I had a chance to reflect on the year that has gone by and I must say....WHAT A RIDE! I, like so many agents and brokers throughout the United States has been blessed with tremendous business and are seeing the market finally begin to level off. I have been very busy and am selling homes at a very quick clip. I am finding that homes that are not short sales, in good repair and priced at the real market value are selling within 30-60 days. Just recently I had listed a home in Riverview, Florida and had 1 contract, a back up offer and a hopeful agent who wanted me to call in case something fell through. All this within the first 2 weeks! Now, the home was not anything spectacular. Just a great home that was well kept and even priced slightly on the higher side.

Now, we all have heard that Florida is in Real Estate "HECK." So how in the world can homes be selling so quickly. I have a two word answer, Aggressive Promotion. Certainly MLS will help you but blanket the area with just listed cards, send out email blast to Realtors, blast it to every Internet listing website known to mankind (this is the best). Pictures, Pictures and more pictures. Every prospective home buyer wants as many pictures as possible of the property. They would like to see the house without actually calling one of us real estate agents. Get a virtual tour! They are well worth money. Landing Pages just for you listing is a great way to get more buyers to view your home. These are just a few ways to move your listing even in a down market.

Just remember a home does not sell by chance but by someone who dedicates time and money into marketing a home.

The moral of the story is, if you want to sell your home, Price it right! Make it show ready! and have a great agent with an aggressive marketing or promotion plan.

Christopher Johnson

RE/MAX Realty Unlimited

Office (813) 654-5549

Toll Free (800) 237-3488

Fax (813) 689-5967

Visit Us on The Web at http://www.chrisjohnsonrealestate.com/

Search MLS Listings at http://www.metrotampamls.com/

Find A Foreclosure at http://tampabankproperties.com/

Follow Me on Twitter http://twitter.com/ChrisJohnsonRE

Chinese Drywall and Renters Rights

Christopher Johnson Realtor, CDPE (RE/MAX Realty Unlimited) — Thu, 03 Sep 2009 14:35:07 -0500

There was a great article in the St. Petersburg Times today written by Ivan Penn. The article was about a youbg woman who wants to walk out on her lease because the property may have Chinese Drywall. The author did a very good job explaining that despite their concern that the renter is still in a legal contract and the effects of Chinese drywall are unknown and not established as a health hazzard (yet).

If you know of anyone or have any tenants or clients with tenants that may have Chinese Drywall, I would recommend you read this article http://www.tampabay.com/features/consumer/renters-rights-can-you-break-a-lease-in-florida-if-a-home-has-chinese/1033260

- Chris Johnson

www.MetroTampaMLS.com

Christopher Johnson

RE/MAX Realty Unlimited

Office (813) 654-5549

Toll Free (800) 237-3488

Fax (813) 689-5967

Visit Us on The Web at http://www.chrisjohnsonrealestate.com/

Search MLS Listings at http://www.metrotampamls.com/

Find A Foreclosure at http://tampabankproperties.com/

Follow Me on Twitter http://twitter.com/ChrisJohnsonRE

A buyer's perspective on Short Sales

Christopher Johnson Realtor, CDPE (RE/MAX Realty Unlimited) — Wed, 19 Aug 2009 19:40:25 -0500

Have you been in this situation lately? Mr. and Mrs. Buyer this listing is a short sale. The little research I did on the property tells me that the home has 2 loans on the property the first with Bank of America and the second with Ocwen. I can tell you from experience Bank of America takes many months to complete a short sale sometimes up to 6 or 7. What is your time frame? can you wait this long?

The buyers emphatically insist they can wait as long as they need to for the home, it is everything they want. Of course you know this that is why you took the time to bring them by the home. You tell them every possible outcome of the short sale and even go as far as to explain to them.

You write the offer, the seller signs it and off to the short sale loss mititgator it goes!

a week goes by...the buyer's are on board and are ok with no response

two weeks goes by ....the buyer's find it troublesome that the bank has not returned a call or confirmed receipt of the offer, but hold on remembering what you said.

A month goes by...."ok this is getting crazy...really? no response! Nothing you say

2 months go by...."we want the house, we are going to wait"

Month 3...."I really didn't think it would take this long and we still don't have an answer" You tell them that the banks are overwhelmed but once they approve the short sale .....it is a very quick process

Month 4 ..."let's look at something else, I do not want to wait any longer"

We as agents understand this process and we do our very best to inform our buyer's of the issues regarding short sales. What continues to boggle the brain, is why can the lenders not move a little faster. The market continues to trickle down or flatten out, the banks should liquidate quickly and put good money towards better investments. This surely would move the real estate market, provide capital to invest in other areas and generally improve the economic issues that plague our country.

Christopher Johnson

RE/MAX Realty Unlimited

Office (813) 654-5549

Toll Free (800) 237-3488

Fax (813) 689-5967

Visit Us on The Web at http://www.chrisjohnsonrealestate.com/

Search MLS Listings at http://www.metrotampamls.com/

Find A Foreclosure at http://tampabankproperties.com/

Follow Me on Twitter http://twitter.com/ChrisJohnsonRE

Riverview Pool Home over 2900sf 4/3.5 Only $174,500

Christopher Johnson Realtor, CDPE (RE/MAX Realty Unlimited) — Wed, 22 Jul 2009 16:36:45 -0500

Riverview Pool Home over 2900sf for $174,500

Move-In Ready, Not a short sale. POOL/SPA Home with 4 Bedrooms Plus Loft, 3.5 Baths, Granite Counters, Laminate Wood and tile Floors downstairs, Carpet up. All Bedrooms Up. BIG Rooms! Great Opportunity to buy a large home for only $59 a square foot. This home will not last long...get it while it's hot. Chris Johnson 813-965-1968 or www.ChrisJohnsonRealEstate.com

Christopher Johnson

RE/MAX Realty Unlimited

Office (813) 654-5549

Toll Free (800) 237-3488

Fax (813) 689-5967

Visit Us on The Web at http://www.chrisjohnsonrealestate.com/

Search MLS Listings at http://www.metrotampamls.com/

Find A Foreclosure at http://tampabankproperties.com/

Follow Me on Twitter http://twitter.com/ChrisJohnsonRE

A short sale is not short when it takes forever!

Christopher Johnson Realtor, CDPE (RE/MAX Realty Unlimited) — Wed, 22 Jul 2009 16:13:58 -0500

The Tampa housing market is loaded with short sales and pre-foreclosures. Yes, many of these homes are closing but I am frustrated with the amount of time it takes to get to closing. Only 1 of every 5 short sales I have done has the original buyer stuck through to the end of the deal.

I can not understand why they take so long. Sure, when the market started turning and short sales were something new to everyone I could understand 6 months to a year. Now, we are 2-3 years into this market and short sales still take 6 months. Granted, the banks do not want to take a loss and they don't want to lose more on the short sale then they would on a foreclosure but it is time to streamline these things.

The listing agent should list the home, get a contract and a real appraisal. Submit the package to the bank and the bank agrees to sell the home at appraisal value. This all could realistically take 2 weeks from contract to approve and off to the closing process you go.

The problems is too many people need to touch that file to approve it. The lending institutions do not seem to realize the faster they get these homes off the market, the faster the housing recovery will be! Wait, that would be basic supply and demand...right?

If you are trying to avoid foreclosure and need some advice where to start visit www.waytoshortsale.com. It is a personal story and a do it yourself guide.

Christopher Johnson

RE/MAX Realty Unlimited

Office (813) 654-5549

Toll Free (800) 237-3488

Fax (813) 689-5967

Visit Us on The Web at http://www.chrisjohnsonrealestate.com/

Search MLS Listings at http://www.metrotampamls.com/

Find A Foreclosure at http://tampabankproperties.com/

Follow Me on Twitter http://twitter.com/ChrisJohnsonRE

Expired Listing in MLS....Now What?

Christopher Johnson Realtor, CDPE (RE/MAX Realty Unlimited) — Wed, 20 May 2009 07:42:58 -0500

So your home listing expired and now your upset and frustrated with your agent. What a terrible person, I can not believe they didn't sell my home. I should be out of this house and moving on with my life. While yes your agent may have dropped the ball and may have over promised and under delivered but there are some factors that you should consider first.

Price: I understand that you want top dollar for your home and as an agent I want top dollar for your home but Realtors do not have any control of the values or perceived value. The market and potential buyers do. Think about it, the agent will get paid more if he sells your home for more but they also know that 3 other homes similar to yours only sold for X amount of dollars and that is most likely where your home will sell. If the buyer knows this and they do, they will only offer so much. If you are over priced they most likely will not even want to see the home because they think you are not a serious seller.

Cleanliness and Clutter: You want Top Dollar for your home right? Then make your home look it's absolute best. If you don't use it, put it away, clean the counters off in the kitchen, store that old lazy-boy, landscape, pressure wash, pull weeds, etc. Your home may have sold if you did these items. If the buyer can not get past the clutter to see the home, you have just lost a potential buyer.

Canceling a Showing: I instruct all my home sellers to never cancel a showing. That showing could be your sale and I guarantee they will never reschedule and will buy the home down the street. I understand they are inconvenient, I personally hated showing my home as well. However, a showing is necessary to sell your home.

What Your Realtor Could've Done Better: Now there are some things your agent could of done better I am certain of that. In fact the biggest issue is not marketing the property correctly. Listing the home in MLS and letting others Realtors sell the home is not enough anymore. Ask your next agent where they list the home, which websites can they find their home, do they do any non-internet marketing like post cards, fliers, newspaper ads etc. There is not one magic trick that will work to sell your home, It is a collective of all ideas that may sell the house. For example I sold house through a link on Trulia.com but then I sold a house from a call in a home book. The more exposure the better.

Ask your next agent for this information. Be sure to ask about how many homes they've sold and where the buyers came from. Be sure to use an agent who markets in your area. In the Brandon-Valrico area of Tampa we have agents that are exclusive to Fishhawk Ranch try to sell homes here. They are not doing the home seller a service because the buyers that find that agent want to live in Fishhawk Ranch not Brandon-Valrico. You may want to hire an agent with RE/MAX or even Coldwell Banker before a small independent or other type of brokerage. The bigger companies spend millions on advertising and send many home buyers to their site looking at homes and they are going to see that companies listings first.

There are so many other factors for why your did not sell but if you are interested in more information please visit my website at www.ChrisJohnsonRealEstate.com

Christopher Johnson

RE/MAX Realty Unlimited

Office (813) 654-5549

Toll Free (800) 237-3488

Fax (813) 689-5967

Visit Us on The Web at http://www.chrisjohnsonrealestate.com/

Search MLS Listings at http://www.metrotampamls.com/

Find A Foreclosure at http://tampabankproperties.com/

Follow Me on Twitter http://twitter.com/ChrisJohnsonRE

Tips to Sell Your Home in this Buyer's Market

Christopher Johnson Realtor, CDPE (RE/MAX Realty Unlimited) — Mon, 18 May 2009 19:15:01 -0500

Today I want to write about what you need to do to sell your home? Most of this is pretty basic but I have seen a decrease in seller awareness lately and then I wonder what their Realtor ® was thinking when they listed the home.

Sometimes just doing some basic things will help sell your home faster.

Everyone should listen to their agents suggestions. They want to sell your home as much as you want it sold but if you do not listen to their recommendations this suggest that you do not trust your agent and do not respect their professional opinion. Remember they sell homes for a living; they most likely have sold more homes than you.

Clean the exterior of the home, remove weeds, trim shrubs, trees, grass, wash your walk and driveway, and remove cobwebs and debris in the corner of garages and entrance ways. Add some color!

Remove excess furnishings, paintings, plants, and stuff. I would suggest boxing everything extra and renting storage space. You may be surprised by removing the extra chair in the family room, the flow of the room will be better and the room will appear more spacious.

Rooms and closets, yes your closet is for you to hang your clothing and shoes and store a few items but if you open the door and something is jumping out at you or your clothes are hung so tightly you need to iron them, you may want to box and store or even give away that old sweater you haven't worn since 1995.

In the kitchen, remove nearly everything from the countertop. A coffee maker or micro would be ok but the mail, blenders, medicine, toaster ovens, books, or anything not useful should be put away and not on the counter. You want to show the potential buyer that you have plenty of counter space. Maybe add flowers or a small plant. Do not store items on your refrigerator, this tells the buyer you do not have enough storage space in the pantry, clean your dishes or put dirty dishes in the dishwasher, get them out of sight.

SMELL - Be mindful of the smell, dogs, litter boxes, food etc all smell and be sure to clean the air.

As a Realtor and a home seller I understand this gets to be a pain in the rear but this will help sell your home. You don't want the buyer to remember your home for all the wrong things!

For more tips visit www.ChrisJohnsonRealEstate.com

Christopher Johnson

RE/MAX Realty Unlimited

Office (813) 654-5549

Toll Free (800) 237-3488

Fax (813) 689-5967

Visit Us on The Web at http://www.chrisjohnsonrealestate.com/

Search MLS Listings at http://www.metrotampamls.com/

Find A Foreclosure at http://tampabankproperties.com/

Follow Me on Twitter http://twitter.com/ChrisJohnsonRE

Tips to Sell Your Home in this Buyer's Market

Christopher Johnson Realtor, CDPE (RE/MAX Realty Unlimited) — Mon, 18 May 2009 19:13:59 -0500

Sometimes just doing some basic things will help sell your home faster.

Clean the exterior of the home, remove weeds, trim shrubs, trees, grass, wash your walk and driveway, and remove cobwebs and debris in the corner of garages and entrance ways. Add some color!

SMELL - Be mindful of the smell, dogs, litter boxes, food etc all smell and be sure to clean the air.

As a Realtor and a home seller I understand this gets to be a pain in the rear but this will help sell your home. You don't want the buyer to remember your home for all the wrong things!

For more tips visit www.ChrisJohnsonRealEstate.com

Christopher Johnson

RE/MAX Realty Unlimited

Office (813) 654-5549

Toll Free (800) 237-3488

Fax (813) 689-5967

Visit Us on The Web at http://www.chrisjohnsonrealestate.com/

Search MLS Listings at http://www.metrotampamls.com/

Find A Foreclosure at http://tampabankproperties.com/

Follow Me on Twitter http://twitter.com/ChrisJohnsonRE

First Time Buyer Tax Credit Can Be Used for Down Payment

Christopher Johnson Realtor, CDPE (RE/MAX Realty Unlimited) — Thu, 14 May 2009 09:03:23 -0500

This came out through NAR and is perfect for the first time home buyer.

Shaun Donovan, secretary of the U.S. Department of Housing and Urban
Development, on Tuesday said that the Federal Housing Administration is
going to permit its lenders to allow home buyers to use the $8,000 tax
credit as a down payment.

Previously, most buyers wouldn't receive the funds until after they filed
their tax return, and that deterred some people from using the credit. The
NATIONAL ASSOCIATION OF REALTORSR has been calling for the change.

"We all want to enable FHA consumers to access the home buyer tax credit
funds when they close on their home loans so that the cash can be used as a
down payment," Donovan says. His remarks came in an address to several
thousand REALTORSR gathered Tuesday morning at "The Real Estate
Summit: Advancing the U.S. Economy," at the 2009 REALTORSR Midyear
Legislative Meetings & Trade Expo in Washington, D.C..

He says FHA's approved lenders will be permitted to "monetize" the tax
credit through short-term bridge loans. This will allow eligible home buyers
to access the funds immediately at the closing table.

Other Solutions for Today's Market

During his address at the summit, Donovan went on to say that the Obama
administration plans to further stabilize the housing market. "I do think we
have some early signs that the market overall is stabilizing,"
Donovan says. "Since January we've seen both home sales moving up and down
around a relatively stable number and we are seeing the first signs that the
rapid decline in home prices is starting to abate."

The morning session included a panel discussion that was moderated by CNBC's
Ron Insana. Panelists examined cutting-edge solutions necessary to promote
and preserve homeownership and real estate development, stimulate the
economy, and protect the nation's taxpayers. They also shared their ideas on
what the role and responsibility of the federal government is in the
revitalization effort.

"Right now the Federal Reserve is the market," said panelist Jay Brinkman,
chief economist for the Mortgage Bankers Association. "What will be the
effect when the Fed stops buying?" Brinkman explained that an exit strategy
must be planned for the long-term; the federal government cannot continue to
support the mortgage markets indefinitely.

"We are thrilled that so many high-caliber individuals were able to join us
today at this important meeting to promote stability in the housing market
and the U.S. economy," said NAR President Charles McMillan. "We look forward
to an ongoing dialogue and action toward this goal, during our midyear
meetings this week and beyond."

The real estate summit is part of the 2009 REALTORSR Midyear Legislative
Meetings & Trade Expo. During the week ending May 16, more than 8,500
REALTORSR will attend meetings, visit lawmakers and inspire action on
Capitol Hill.

Source: NAR

Christopher Johnson

RE/MAX Realty Unlimited

Office (813) 654-5549

Toll Free (800) 237-3488

Fax (813) 689-5967

Visit Us on The Web at http://www.chrisjohnsonrealestate.com/

Search MLS Listings at http://www.metrotampamls.com/

Find A Foreclosure at http://tampabankproperties.com/

Follow Me on Twitter http://twitter.com/ChrisJohnsonRE

Do you Twitter your lisings?

Christopher Johnson Realtor, CDPE (RE/MAX Realty Unlimited) — Wed, 06 May 2009 07:48:56 -0500

Are you twittering your listings? Are you even twittering? I started twittering listings and information about local Real Estate and general business information a few weeks ago and received my first lead last night.

Since you are limited to the amount of characters you can type I would recommend a brief description and a link back to the website view of your listing.

This will work for your blog as well.

Christopher Johnson

RE/MAX Realty Unlimited

Office (813) 654-5549

Toll Free (800) 237-3488

Fax (813) 689-5967

Visit Us on The Web at http://www.chrisjohnsonrealestate.com/

Search MLS Listings at http://www.metrotampamls.com/

Find A Foreclosure at http://tampabankproperties.com/

Follow Me on Twitter http://twitter.com/ChrisJohnsonRE

Is it ok for agents to flip short sales

Christopher Johnson Realtor, CDPE (RE/MAX Realty Unlimited) — Mon, 04 May 2009 08:33:04 -0500

This weekend in both the Tampa Tribune and St. Petersburg Times there was an article about a local agent and his business partner who are making money flipping short sales. Basically they negotiate a low price with the seller's bank and then flip it to a buyer as a same day closing for a higher amount most times netting about 10-15k per transaction. They are using funds A-B and B-C and the option contract they are using is being sent to the original bank so they know what the buyer is going to do. The Tribune article was less flattering but it was written by Shannon Behnken who is a "Doom and Gloom" journalist.

Now, is there anything wrong with it? I think as long as the transactions taking place are disclosed to all parties then why not. Is it unethical to make money in this market? Is it illegal to flip a property? As long as full disclosure has been made then so what. Now the question is since he is a Realtor how does he list the properties for sale. Is it in MLS? He is not technically the owner just an agent/flipper so can he list it in MLS. I am not sure. That would be the only issue I would have.

Christopher Johnson

RE/MAX Realty Unlimited

Office (813) 654-5549

Toll Free (800) 237-3488

Fax (813) 689-5967

Visit Us on The Web at http://www.chrisjohnsonrealestate.com/

Search MLS Listings at http://www.metrotampamls.com/

Find A Foreclosure at http://tampabankproperties.com/

Follow Me on Twitter http://twitter.com/ChrisJohnsonRE

What is a short sale? What happens next

Christopher Johnson Realtor, CDPE (RE/MAX Realty Unlimited) — Wed, 29 Apr 2009 08:46:52 -0500

This is a common question I get all the time.

Basically, a short sale is when the owner of the home attempts to sell their home for less than the amount owed on the mortgage or mortgages. Essentially selling it "short" of the mortgage owed.

The benefits to a short sale are you will avoid a Foreclosure! Foreclosures are terrible and will affect your credit for many years to come. They are actually worse than a bankruptcy. You may be able to have the loan "paid in full" on your credit report. You should be able to avoid any kind of judgments filed against you. If you keep your other bills in line for the next 2-3 years you should be able to buy another home.

The negatives of foreclosure are you may be 1099 for the difference of what is owed to the bank. However, if this was your primary residence you may be eligible to file a Form 982, cancellation of debt because of the Debt Forgiveness Act signed by President Bush in 2007. I would recommend you speak to an accountant about that. The other is your credit rating will take a hit. You most likely have to stop or already have not made a mortgage payment and you will have several lates on the mortgage on your credit. The good news is, they fall over time. The third is you have to move, this stinks for some people but if you can not afford the house you are going to lose it anyway and be worse off.

The Loan Modification may work for some folks, but if they do not have jobs the lenders will not modify a loan. Be careful about all these Loan Modification companies. Many are operating illegally. Check with your state laws. I know in Florida there are strict laws on the books. http://www.myfloridalegal.com/newsrel.nsf/newsreleases/FF973C8A0EEE167B85257566006916E8

If you are intersted in more information regarding short sales or what to do next, give me a call or email anytime. Good Luck

Christopher Johnson

RE/MAX Realty Unlimited

Office (813) 654-5549

Toll Free (800) 237-3488

Fax (813) 689-5967

Visit Us on The Web at http://www.chrisjohnsonrealestate.com/

Search MLS Listings at http://www.metrotampamls.com/

Find A Foreclosure at http://tampabankproperties.com/

Follow Me on Twitter http://twitter.com/ChrisJohnsonRE

Tampa Home Foreclosures dropped 11%

Christopher Johnson Realtor, CDPE (RE/MAX Realty Unlimited) — Wed, 22 Apr 2009 10:01:48 -0500

I just read an article on www.TBO.com by Shannon Behnken about how Foreclosures in the Tampa area dropped 11% according to Realty Trac. Funny though, this is another solid piece of evidence that the real estate market has bottomed out yet, the article follows up this one sentence of good news with 3 paragraphs of how we should not get excited because it is only momentary since Lenders placed a moratorium on foreclosures etc. during the holidays.

I hate to be the bearer of bad news but the market has reached bottom. Homes are selling quite brisk. Just this weekend, a new REO/Bank Foreclosure in Riverview had 10 offers and sold for thousands over the asking price. Sure it was bank owned but that is needed to clear the way for the average homeowner to sell their property.

Here are 4 pieces of evidence that the market has bottomed out:

1. Since November of 2008 the Tampa area has seen sales increase by double digits.

2. The median price dropped. (yes this is a good thing. First time home buyers make a large majority of home sales every year and during the boom years, they were forced out of the market)

3. Interest are creeping back up (slightly).

4. Foreclosure rates in Tampa dropped 11%

I am not a journalist for the Tampa Tribune and I am not an economist or an Obamomist but the proof is in the pudding!

Christopher Johnson

RE/MAX Realty Unlimited

Office (813) 654-5549

Toll Free (800) 237-3488 Fax (813) 689-5967

Visit Us on The Web at http://www.ChrisJohnsonRealEstate.com

Christopher Johnson

RE/MAX Realty Unlimited

Office (813) 654-5549

Toll Free (800) 237-3488

Fax (813) 689-5967

Visit Us on The Web at http://www.chrisjohnsonrealestate.com/

Search MLS Listings at http://www.metrotampamls.com/

Find A Foreclosure at http://tampabankproperties.com/

Follow Me on Twitter http://twitter.com/ChrisJohnsonRE

Approved Short Sales!

Christopher Johnson Realtor, CDPE (RE/MAX Realty Unlimited) — Thu, 09 Apr 2009 08:43:36 -0500

Great news today! Two short sales that my team and I have been working on finally got approved from Wells Fargo and Saxon respectfully and we are on our way to closing. The really great news for anyone who is working short sales or considering doing a short sale it seems as though the lenders are speeding the process up. Previously we would get a contract and you could count on the process taking 5 months. These last 2 only took 2 months to get the approva

I am very excited for both of my sellers. They both had real hardships and needed to the sell the home and avoid foreclosure. We successfully negotiated over $220,000 of debt from our seller in Riverview and nearly $80,000 for the seller in Brandon.

Remember to send a complete package to the lender after you get your contract. This includes all the listing paperwork, financial statements from the seller, BPO, Hardship letter and preliminary HUD statement. Don't forget the sale and purchase contract and short sale addendum's.

Great news for everyone if we can move these homes before they become Foreclosures.

P.S. I had a great experience with Wells Fargo's loss mitigation department. It may be the fact they are in South Carolina but very helpful and friendly, called back when they said and very quick to reply to emails. Now Countrywide....NOT SO MUCH! They are all automated now!

Christopher Johnson

"The Exclusive Realtor of the Tampa Bay Lightning "

RE/MAX Realty Unlimited

Office (813) 654-5549

Toll Free (800) 237-3488

Fax (813) 689-5967

Visit Us on The Web at http://www.JohnsonHomeTeam.com

Christopher Johnson

RE/MAX Realty Unlimited

Office (813) 654-5549

Toll Free (800) 237-3488

Fax (813) 689-5967

Visit Us on The Web at http://www.chrisjohnsonrealestate.com/

Search MLS Listings at http://www.metrotampamls.com/

Find A Foreclosure at http://tampabankproperties.com/

Follow Me on Twitter http://twitter.com/ChrisJohnsonRE

Short Sales and Loan Modifications

Christopher Johnson Realtor, CDPE (RE/MAX Realty Unlimited) — Thu, 02 Apr 2009 07:43:45 -0500

I am finding it quite frustrating lately. I have been helping folks with short sales and avoiding foreclosure. This is saving their credit, getting them out of a house they can not afford and allowing them to move on with their lives. Now, I am seeing loan modification people popping up all over the place. This is not an "us" vs. "them" comment. I spoke with a couple yesterday who absolutely need to get out of the house and avoid foreclosure. They do not have jobs, have not paid their mortgage in several months and really have no chance to catch up. All they talked about was loan modification and someone will help them keep the house. I couldn't believe my ears, this woman was crying about how they can not afford to buy food and they may have to leave Florida and they are going to get swindled out of an upfront fee (I am not sure how legal that is) and still lose the home and now have a foreclosure on the books.

Before every loan modifier blasts me with negative remarks! I do see the benefit to loan modifications and have recommended them to many folks who are not too upside down in their home and have a rectifiable hardship. I know that the hope for homeowners willl help several people but I can not believe where this is going!

I also know that we all need to be careful about how we do business because it is getting out of control and that means "REGULATION!"

Christopher Johnson

RE/MAX Realty Unlimited

Office (813) 654-5549

Toll Free (800) 237-3488

Fax (813) 689-5967

Visit Us on The Web at http://www.chrisjohnsonrealestate.com/

Search MLS Listings at http://www.metrotampamls.com/

Find A Foreclosure at http://tampabankproperties.com/

Follow Me on Twitter http://twitter.com/ChrisJohnsonRE

Is there an inexpensive way to upgrade counter tops?

Christopher Johnson Realtor, CDPE (RE/MAX Realty Unlimited) — Thu, 19 Jul 2007 15:12:30 -0500

I have a home listed in Brandon www.906OakRegency.com and the home shows beautifully...except the kitchen. The sellers have added new hardwood flooring, completely gutted and remodeled the baths, added new tile and stainless as well as several other upgrades or updates to make the home show wonderful. The yard and pool are exceptional. The best part is the house is on a one street road without a HOA or CDD Fee and every home including this one is picture perfect. All the showings have loved the home and expressed interest but have not made an offer. I have solicited feedback and while it is not mentioned, I feel as though the kitchen is holding them back. They are willing to make a change to the counter tops but feel that it is counter productive because the cabinets are older and will need replacing as well.

I suggested adding granite or some man made version of granite. In the Tampa area, this type of counter top is very high on the wish list of many home buyers. The sellers will do it, but feel it may be a bigger waste of money for the buyer. I suggested tiling, or replacing with a cheap mica counter instead.

Christopher Johnson

RE/MAX Realty Unlimited

Office (813) 654-5549

Toll Free (800) 237-3488

Fax (813) 689-5967

Visit Us on The Web at http://www.chrisjohnsonrealestate.com/

Search MLS Listings at http://www.metrotampamls.com/

Find A Foreclosure at http://tampabankproperties.com/

Follow Me on Twitter http://twitter.com/ChrisJohnsonRE

Bloomingdale, Florida A Great Place to Live!

Christopher Johnson Realtor, CDPE (RE/MAX Realty Unlimited) — Tue, 17 Jul 2007 10:38:42 -0500

Bloomingale, Florida

Bloomingdale is located in Valrico and Brandon in Hillsborough County Florida. Located just east of Tampa, Bloomingdale is the peacful, safe community where you can jog safely or walk to the local YMCA. With great schools, plenty of local parks, a public golf course and shopping and resteraunts nearby, why wouldn't you want to live here.

Homes in Bloomingdale vary in size, style and price range. In today's real estate market you will find excellent value in Bloomingdale! Contact Chris Johnson for more information on homes available for sale in Bloomingdale.

For more information about Bloomingdale please vist us online at www.ChrisJohnsonRealEstate.com

View homes for sale in Bloomingdale. www.JohnsonHomeTeam.com

Upcoming Events:
	Meeting Regarding Intersections, 7/22/2009 Meeting Reminder, 7/22/2009 Top Ten Mosquito Prevention Tips, 7/22/2009

Christopher Johnson

RE/MAX Realty Unlimited

Office (813) 654-5549

Toll Free (800) 237-3488

Fax (813) 689-5967

Visit Us on The Web at http://www.chrisjohnsonrealestate.com/

Search MLS Listings at http://www.metrotampamls.com/

Find A Foreclosure at http://tampabankproperties.com/

Follow Me on Twitter http://twitter.com/ChrisJohnsonRE

Harbour Island: 3Bed 2Bath Condo $30k under market

Christopher Johnson Realtor, CDPE (RE/MAX Realty Unlimited) — Mon, 16 Jul 2007 20:24:54 -0500

Gorgeous Harbour Island Condo Priced Below Market

$299,900

Granite ~ Stainless Steel Appliances ~ Tiled Floors ~ New A/C ~ Walk-In Closets ~ Marble ~ Garage ~ Fitness Center ~ Pools ~ Guarded Entrance ~ Waterfront Community

HARBOUR ISLAND, ISLAND WALK, SPACIOUS 3 BEDROOM, 2 BATH, 1 CAR GARAGE. DESIGNER KITCHEN WITH GRANITE AND STAINLESS STEEL APPLIANCES. GRANITE AND MARBLE IN OVERSIZED BATHROOMS. REMOTE LIGHTING AND CLIMATE CONTROL.PRIVATE LANAI, LARGE FRONT LAWN AND DRIVEWAY. UNIT IS LOCATED RIGHT ACROSS FROM POOL, FITNESS, TENNIS AND MORE. GATED WITH 24 HOUR SECURITY. WALK TO CHANNELSIDE, CONVENTION CENTER, ST. PETE TIMES FORUM AND DOWNTOWN.

See more information on this and every listing in Tampa Bay at www.JohnsonHomeTeam.com

Christopher Johnson

RE/MAX Realty Unlimited

Office (813) 654-5549

Toll Free (800) 237-3488

Fax (813) 689-5967

Visit Us on The Web at http://www.chrisjohnsonrealestate.com/

Search MLS Listings at http://www.metrotampamls.com/

Find A Foreclosure at http://tampabankproperties.com/

Follow Me on Twitter http://twitter.com/ChrisJohnsonRE

Beautiful Brandon Pool Home! Park Like Setting!

Christopher Johnson Realtor, CDPE (RE/MAX Realty Unlimited) — Mon, 16 Jul 2007 19:50:16 -0500

Gorgeous Pool Home 1/3 Acre in Beautiful Brandon

Lap Size Pool, Remodeled Baths, Beautiful Hardwood Floors, Wood Burning Fireplace, Over 1/3 acre home site, Gorgeous Oak Trees, Stainless Appliances, No HOA or CDD, Close to Crosstown and Tampa, Loads of Upgrades

WOW! A rare find in mature neighborhood on tree-lined cul-de-sac in the heart of Brandon just minutes from the Interstate and Crosstown, with lots of room to roam. Beautiful home has been completely remodeled and features spacious kitchen with newstainless steel appliances and bar that overlooks large family room with vaulted ceilings. Natural wood flooring and porcelain and ceramic tile throughout, the bathrooms contain spa-like features while the large bedrooms offer new carpet and loads of closet space. Bay windows provide the opportunity to look out over the huge backyard and park-like setting that is home to an extra-large pool, huge, covered lanai and utility shed. Priced at $299,900

Visit our website www.JohnsonHomeTeam.com for more homes available in Brandon, Valrico, Lithia, Riverview and all of Tampa Bay!

Christopher Johnson

RE/MAX Realty Unlimited

Office (813) 654-5549

Toll Free (800) 237-3488

Fax (813) 689-5967

Visit Us on The Web at http://www.chrisjohnsonrealestate.com/

Search MLS Listings at http://www.metrotampamls.com/

Find A Foreclosure at http://tampabankproperties.com/

Follow Me on Twitter http://twitter.com/ChrisJohnsonRE

Almost Every Other Call Lately is For A Rental

Christopher Johnson Realtor, CDPE (RE/MAX Realty Unlimited) — Tue, 22 May 2007 14:21:49 -0500

It seems to me that maybe I should take on property managment! Lately my office has bombarded with calls and emails for people looking to rent. I have been dishing out more rental leads to property managers and from what I am hearing they have a continued source of rental homes. I did try it once and after my first eviction, I know it is not a business for me. As long as there are investor owned homes in the bay area there will be a steady stream of rental properties for everyone.

Christopher Johnson

RE/MAX Realty Unlimited

Office (813) 654-5549

Toll Free (800) 237-3488

Fax (813) 689-5967

Visit Us on The Web at http://www.chrisjohnsonrealestate.com/

Search MLS Listings at http://www.metrotampamls.com/

Find A Foreclosure at http://tampabankproperties.com/

Follow Me on Twitter http://twitter.com/ChrisJohnsonRE

UH OH! There is wallpaper!

Christopher Johnson Realtor, CDPE (RE/MAX Realty Unlimited) — Fri, 09 Mar 2007 20:02:33 -0600

To everyone who may be considering selling their home or for agents listing homes. Your sellers need to remove wallpaper. Most home buyers can not get over it! Paint is not a problem (usually) but wallpaper is a huge drawback. If the seller does not want to remove their wallpaper then they need to reflect it in the price.

Totally a suggestion but I have seen enough buyers turn around and just walk out of homes because of wallpaper.

Christopher Johnson

RE/MAX Realty Unlimited

Office (813) 654-5549

Toll Free (800) 237-3488

Fax (813) 689-5967

Visit Us on The Web at http://www.chrisjohnsonrealestate.com/

Search MLS Listings at http://www.metrotampamls.com/

Find A Foreclosure at http://tampabankproperties.com/

Follow Me on Twitter http://twitter.com/ChrisJohnsonRE

Why all the media hype?

Christopher Johnson Realtor, CDPE (RE/MAX Realty Unlimited) — Fri, 09 Mar 2007 14:28:25 -0600

Is anyone else tired of reading the doom and gloom news reporting of the real estate market, housing bubble or whatever you want to call it. It seems that one week the media is writing articles to stay away from the housing industry and how sales are completely down compared to last year blah blah blah. Then the very next week the same media reporter is writing about how now is the time to buy and that it seems most markets have hit rock bottom and the prices will increase.

I haven't seen a real change personally but you know that there are many first time home buyers that are sitting on the fence reading this crap.

Am I alone with this thought?

Christopher Johnson

RE/MAX Realty Unlimited

Office (813) 654-5549

Toll Free (800) 237-3488

Fax (813) 689-5967

Visit Us on The Web at http://www.chrisjohnsonrealestate.com/

Search MLS Listings at http://www.metrotampamls.com/

Find A Foreclosure at http://tampabankproperties.com/

Follow Me on Twitter http://twitter.com/ChrisJohnsonRE