Elizabeth Ruvo CRB 's Blog

Prominent Florida Attorney, Wife & 7 Others Arrested for Mortgage Fraud

Elizabeth Ruvo CRB (Real Living ALL FLORIDA REALTY) — Wed, 10 Jun 2009 15:54:57 -0700

There is a major news story out today around the state about a prominent Ft. Pierce attorney and his wife who have been arrested on racketeering and conspiracy-related charges as part of a mortgage fraud scheme. Transactions occurred in St. Lucie, Martin, Marion, Lake, Columbia and Alachua counties. Seven other people were also arrested from around the state. According to DBPR records, one of them was an active real estate agent and Appraiser, another was a licensed real estate agent, and another was a licensed General Contractor.

This story is an excellent example of why Real Estate professionals and the public must be on their toes and stay on top of what is going on. We have recently had several attempts from "buyers" wanting to "Stop Foreclosure" by having the seller sign over their warranty deed as well as sign a Power of Attorney before they close on the house. We're seeing lots of buyers wanting to present offers on more than one property and then "see" which one gets accepted first. It's a crazy market and people are wanting to do crazy things.

According to the news article, in this particular case the couple acted as Straw Buyers and signed documents for loans that they never intended to make good on. It doesn't mention whether or not the other parties arrested were aware there was possible fraud going on or not, but it's easy to see that sales agents could get caught up unknowingly, especially if they are dealing with a respected and well known business person.

We should all think long and hard when we have a buyer or seller that seems to good to be true or if anything raises a red flag in our deals. Bring it to your broker's or manager's attention so they can look at all the facts and determine if it is suspect or not. If you're a seller talk to your Realtor. Don't be afraid to ask questions if something doesn't sound right to you. Better to be a little cautious now and maybe forgo and deal than get involved in something that could jeopardize or your career and your life.

Read the full story here: http://tcpalm.com/news/2009/jun/09/prominent-lawyer-russell-rusty-akins-arrested/

Some GOOD News from Florida

Elizabeth Ruvo CRB (Real Living ALL FLORIDA REALTY) — Mon, 25 Aug 2008 19:25:03 -0700

According to FAR (Florida Association of Realtors) Florida single family existing home sales rose in July for the first time in more than 2 years! it's actually only six (yes, that's 6 more) homes than July of 2007, but that's enough to indicate a hint of stabilization.

This is big news because the last time this happened was at the end of the year in 2005.

Now, the good news for buyers is even though we're starting to stabilize, the median sales price from a year ago is down 19%. There are a multitude of foreclosures available as well as "short sales". Short Sales take a lot of patience and are not the thing for buyers who need to get into a new home quickly. However, the foreclosres can be quick and easy and there are many that are in excellent condition (even some that are new and never lived in!)

If you've ever thought of buying a second home or retirement home in Florida - now is the time. Or, if you're already starting to think about the end of summer and the coming of winter, it's time to move to Florida. We have NO state income tax, low sales tax and Homestead Exemption (for your main residence).

Interest rates are still low, so what are you waiting for? If we're starting to stabilize it won't be long before the prices start moving slowly up again.

PLAN YOUR FUTURE NOW - INVEST IN FLORIDA

Thinking of Buying A Home?

Elizabeth Ruvo CRB (Real Living ALL FLORIDA REALTY) — Mon, 11 Aug 2008 14:11:00 -0700

Thinking of Buying A New Home in Port St. Lucie, Florida?

Free Event on August 23rd, 2008 to Feature Panel of Experts
and Question-and-Answer Session

There's no mistaking the trend - more and more potential home buyers are totally confused and wary of the home buying process in today's market. Values have changed, financing options have changed and types of sales have changed.

Whether you're a first time buyer dreaming of your own home or you're contemplating buying again, you could probably use some professional advice on the process. All Florida GMAC Real Estate with GMAC Mortgage is offering consumers in the Treasure Coast a unique and comprehensive seminar on buying a home.

"What You Need to Know Before Buying a Home" is free and open to the public, and will be held from 10:00 AM to Noon on Saturday August 23rd, 2008. It will take place at All Florida GMAC Real Estate located at 1648 S.E. Port St. Lucie Blvd. in Port St. Lucie. While the seminar is free, advance registration is required due to space limitations, and can be made by calling 772-220-7322.

Offered as a community service, "What You Need to Know Before Buying a Home" will explore all facets of searching for and buying a home, including criteria to consider regarding financing and types of loans, searching for your home, inspections, and title services. Seminar presenters will include:

Linda Wellmaker-Ferriter, Branch Manager and Loan Officer fom GMAC Mortgage in Stuart; Elizabeth Ruvo, Broker Associate and State Sales Division Manager from All Florida GMAC Real Estate; John MacVean, Director and Inspector for HouseMaster Home Inspections in Port St. Lucie; and Victoria Morhardt, Marketing Director for Boston Title.

GMAC Mortgage will offer a $250 credit towards closing costs to anyone attending the seminar who purchases a home through All Florida GMAC Real Estate and GMAC Mortgage. There will be refreshements and prize drawings too.

All Florida GMAC Real Estate has 6 offices around the state in Port St. Lucie, Vero Beach, Melbourne, Daytona Beach, Ocala and Port Charlotte with 130 Sales Associates serving the state in Residential Sales and Rentals, Commercial Sales and Leasing, Business Brokerage, and Property Management.

Visit www.AllFloridaRealty.com or www.gmacmortgage.com to get started with your home and loan search and don't forget to reserve your space at the seminar by calling GMAC Mortgage at 772-220-7322. For real estate information call 772-335-1995.

Congratulations Johnathan Washburn - 30 Under 30 by NAR

Elizabeth Ruvo CRB (Real Living ALL FLORIDA REALTY) — Tue, 27 May 2008 19:04:57 -0700

Congratulations to Johnathan Washburn, CEO of ActiveRain, who was named one of the "30 Under 30 Setting the Pace for Realtors" in 2008. Don't miss the article on page 33 of the June 2008 Realtor Magazine.

Jonathan has done an awful lot in his 29 years and I really enjoyed reading about his success.

Great job, Jonathan! Thanks for creating AcitveRain with your high school buddy.

NAR's Centennial Celebration

Elizabeth Ruvo CRB (Real Living ALL FLORIDA REALTY) — Thu, 06 Mar 2008 19:00:27 -0800

Did you know that 2008 is the National Association of Realtor's 100th Anniversary? All of you who are Realtors should join in the celebration by adding your photo to the Centennial mosaic. You can also include the Centennial Logo on your webiste, ads, etc. All available at the association website.

HAPPY 100TH ANNIVERSARY NAR!

Farewell to Mike Llewellyn - Friend, Colleague, Active Rain member

Elizabeth Ruvo CRB (Real Living ALL FLORIDA REALTY) — Thu, 20 Sep 2007 20:30:32 -0700

Today started off on a high note with our associate, Michael Llewellyn, coming into the office for a visit for the first time since having a heart attack while at work two weeks ago. He looked terrific and was all smiles as he received hugs and handshakes from everyone there. It was great to see him and his son Mark, who had come down from up north to be with the family while his father recovered. Mike was in the hospital until yesterday, so we were suprised and happy to see him so soon.

Mike had sent us a message while he was in the hospital that this was a "wake up call" and he was definitely going to have a life syle change. He planned to take a lot of his friends on the road to that change too. Being a heavy smoker, we asked Mike if he missed it. He said "not yet" and that he could actually feel his lungs clearing up.

Late this afternoon Mike's son, Mark, called me. I was happy to hear from him and thought Mike had asked him to call me about something I could help with. I was heartbroken, shocked, and dismayed when Mark told me that on the way home from the office this morning, Mike had another attack. He couldn't beat this one and he was gone, just like that.

We are crushed. Mike exemplified the Realtor code of ethics, was always an advocate of fighting for the good of the people, and was always there to help any of us at any time. He was the kind of person who really cared about others. I know he meant it when he said he wanted to take his friends with him in his life style change. It's too late for Mike, but I hope those of us who knew and loved him will remember that he was thinking of us while going throuh his own turmoil.

Port St. Lucie, Florida - 3rd Fastest Growing City in the Nation

Elizabeth Ruvo CRB (Real Living ALL FLORIDA REALTY) — Thu, 28 Jun 2007 20:38:29 -0700

According to U.S. Census figures released today (June 28, 2007) Port St. Lucie, on the east coast of Florida, is ranked as the third fastest growing city in the United States with 12,909 new residents between July 2005 and July 2006. While this is down from the #1 spot for 2003-2004 and the #2 spot for 2002-2003, it is still good news for this area. The housing market has slowed down, as it has throughout Florida, but we are still leading every other city in the state.

These rankings have contributed to a huge increase in commercial development that had been lacking for many years in Port St. Lucie. New developments such as Tradition and Tesoro have added a much wider variety of life styles for residents of the area.

Port St. Lucie is located between West Palm Beach and Vero Beach and is approximately 90 minutes north of Ft. Lauderdale and 90 minutes southwest of Orlando and Disney World. With pristine beaches, two rivers and two major interior canals there's plenty of boating and fishing to please the most devout fishermen. Golf courses abound inlcuding the PGA Learning Center at St. Lucie West. In October we'll be hosting a PGA tournament at Tesoro.

It's a great place to live, whether you're raising your family or retiring. It's a buyer's market in real estate and a great time to find your perfect home whether it's a adult community, small starter home, or estate - we've got it all. There's plenty of vacant land left if you want to build your own.

Take a further look.......

Home Town Connection now in Port St. Lucie

Elizabeth Ruvo CRB (Real Living ALL FLORIDA REALTY) — Sat, 23 Jun 2007 11:25:10 -0700

There'a a great new publication out in Port St. Lucie, Florida, called Your Home Town Connexion. It's got all the information needed for new residents or visitors to the area. It's a print magazine but you can also download it on the internet at http://www.yourhometownconnexion.com. You'll find photos of the area, blogs about the area, a calendar of events, website addresses, phone numbers, school information, and so much more. Anyone thinking of moving or visiting the Port St. Lucie area in St. Lucie County, Florida should check this out. AND it's all FREE.

12 Days of Hurricane Season

Elizabeth Ruvo CRB (Real Living ALL FLORIDA REALTY) — Thu, 24 May 2007 20:37:01 -0700

Here in Florida and other areas along the Eastern coastline, "Hurricane Season" (June 1st - November 30th) is fast approaching. The American Red Cross has put together an informative piece on preparing for hurricane season in 12 days.

Also, From June 1 through June 12, Floridians can save while preparing themselves for the 2007 Hurricane Season. Florida's Hurricane Preparedness Sales Tax Exemption will allow individuals and families an opportunity to purchase certain disaster preparedness supplies without paying sales tax.

If you are new to Florida, please don't take hurricanes lightly. While we do have advance warning, and sometimes we get ready and nothing comes, it is very important to be prepared.

If you are planning on purchasing a home during hurricane season in Florida, please make sure you get your hazard insurance in place well before your closing. If you wait until a few days before your closing and there is a hurricane brewing, you may not be able to get your insurance in time and lenders will not approve a loan on an uninsured property. Most insurers stop writing new policies once there is a chance that the area could be hit by a forming hurricane.

5+ Acre Estate Home on the Treasure Coast of Florida

Elizabeth Ruvo CRB (Real Living ALL FLORIDA REALTY) — Tue, 22 May 2007 21:14:56 -0700

Want privacy? Want space? Want to be in your own little world yet close to everything? This gorgeous custom home has it all. With 4 bedrooms, 2 baths, formal living and dining rooms, beautiful, fully equipped kitchen, informal dining area, 2 car attached garage and huge heated, screened pool this home is your dream come true.

Enter through your own private wrought iron gates and drive down the tree lined drive to your 5.36 acre estate. The property is surrounded by a perimeter farm fence and includes a protected marshland with gopher turtles and other wildlife.

The home is located on the border between Port St. Lucie and Ft. Pierce in St. Lucie County on the Treasure Coast of Florida. Minutes to St. Lucie West, shopping, dining, entertainment, Mets Stadium and I-95.

*****SOLD*****

For more information visit my website, email elizabethruvo@allforidarealty.com, or call 772-285-0439.

An Open Letter to Leslie Stahl - 60 Minutes on their Red Fin Report

Elizabeth Ruvo CRB (Real Living ALL FLORIDA REALTY) — Sun, 13 May 2007 19:16:46 -0700

I don't usually get so worked up over a 60 Minutes Report, it's one of my favorite shows. Tonight, however, I couldn't believe the things Leslie Stahl was insinuating on her "Red Fin" discount internet real esate report and the demise of the 6% commission. If you missed it you can see it at CBS 60 minutes.

Following is a copy of the letter I sent to 60 Minutes. I hope more of you will let them know you opinion.

"Leslie,

I'm really disappointed in you and 60 Minutes after seeing your report on Red Fin, the internet real estate discounter. First of all on YOUR website you have a Coldwell Banker logo saying they are your sponsor. I'm sure Coldwell Banker won't be real happy about this report or the fact that when you finally got a Realtor's view point it was a Re/Max agent.

You should get your information straight as a journalist, especially one on TV. It is ILLEGAL to fix commission rates. They are ALWAYS negotiable. While 6% is traditionally a norm, it is not a fixed rate. If a home is not going to need as much work, time, advertising and marketing to get sold, then certainly the commission should be negotiated down before the listing agreement is signed.

Commissions can also be variable, meaning on a very expensive home you can charge one percentage for the first million and a lower percentage for the second million and so on. A lot of agents today will lower the commission if they find the buyer and do not have to split the commission with another broker.

Are the internet discounters really getting the best possible price for the home? If they don't even see the house how are they giving value to the condition and upgrades (or lack of them). And what about disclosures regarding things that could affect the value or future value of the home? Who is really looking out for that seller?

If they put the listing on the MLS, who is paying the buyer's agent. Since Red Fin only charges $3,000 to list the house, do the sellers have to cough up more money to pay the buyer's agent or do they not put the home on the MLS making it available to other "traditional" real estate agents?

What happens if the house doesn't sell? The seller has most likely already paid their $3,000. Do they get it back? A "traditional" real estate agent never gets paid a penny if the house doesn't sell. Therefore, they're making an investment with every listing having to pay for advertising, marketing, open houses, gas, etc. out of their own pocket. Don't you think that gives them a pretty good incentive to get that house sold?

And what about the buyers who go through Red Fin? Yes, they may get some money in their pockets at the closing, but do they know all the details they should know about the home? Do they know it was the best home at the best price for them? Who is going to help them when they have a problem 6 months down the road? Who is telling them that the road the home is on is due for widening or that it is being considered for rezoning to commercial?

Don't get me wrong, I do believe in free enterprise and I do believe that the internet is making a major change in the way everything is bought and sold including real estate. However, there will always be a need for the "traditional" broker/agent as many people will not have the time or inclination to worry about strangers coming in to look at their home, holding open houses, making flyers, etc. What I resent is the way you made it sound like real estate agents are money hungry, over paid, sharks who do nothing to earn their fat pay checks. Most of us are very hard working, caring people who take pride in helping homeowners with their most valuable asset - their home. When you consider the hours we put in and the expenses we have (on behalf of the seller) our hourly wage would really surprise you.

Sincerely,

Elizabeth Ruvo
Broker Associate/Office Manager
All Florida Realty Services Port St. Lucie, Florida"

If You're Facing Forclosure Watch Out for Fraudulent Buyers

Elizabeth Ruvo CRB (Real Living ALL FLORIDA REALTY) — Sat, 12 May 2007 16:34:22 -0700

If you're not able to keep up with your mortgage payments and trying to avoid foreclosure, watch out for fraudulent buyers who may take your home, but not pay off your loan. There's a story in the Palm Beach Post today (May 12, 2007) about a mortgage and real estate broker in Martin County, Florida, who was "buying" homes to help out people trying to stop foreclosure. He had a person at a title company prepare documents that seemed to show a sale and a satisfaction of mortgage, however, the loans were never paid off or refinanced. He kept paying the loans so he claims he was doing no harm! Fortunately, they've been stopped before they "bought" so many homes they couldn't keep paying all the loans. It would be his victims, who thought they had made a legitimate sale and paid off their loans, who would end up losing their credit. Read the full story at PalmBeachPost.com.

Remember, if something seems to good to be true, it probably is. If someone comes to you wanting to buy your home, especially if you're behind in your payments, you need to check them out thoroughly and you should consult a Realtor and/or an attorney before signing anything.

Procuring Cause

Elizabeth Ruvo CRB (Real Living ALL FLORIDA REALTY) — Wed, 02 May 2007 14:01:52 -0700

Has anyone ever gone after a commission for "procuring cause". One of my agents has a definite case, but having never had one before, we're not quite sure what steps to take. Can anyone adivise?

Affordable Ocean Access

Elizabeth Ruvo CRB (Real Living ALL FLORIDA REALTY) — Wed, 25 Apr 2007 18:29:06 -0700

Have you always wanted a home where you could jump right into you boat and head to the river and/or ocean for a day of fishing? In Port St. Lucie, Florida we've got IT.

Take a Visual Tour of of what we have to offer: A 4 bedroom, 2 bath home on a 1/3 acre ocean access lot with a newly adjusted price of on $395,000. A terrific value for a move in condtition 1/3 acre ocean access home.

In 90 minutes you can get to Orlando & Disney to the north, or Ft. Lauderdale to the south. Centrally located on the east coast of Florida we're the winter home of the NY Mets. The Florida Marlins, St. Louis Cardinals and Los Angeles Dodgers all have spring training facilities within 40 miles of us.

When you're not out in your boat you can enjoy our many golf courses - all year long!

For more information visit my website, email elizabethruvo@allfloridarealty.com, or call 772-285-0439.