fort myers: Is your short sale buyer marching to the closing table, or marching away? - 08/12/10 01:36 AM
Sometimes I truly wonder why a buyer would want to participate in the short sale purchasing process in the first place. I believe we need short sales, and despite all the whining, and complaining, maybe justified, we need the potential relief to the sellers, and the markets that short sales may bring.
Before I get jumped, and severely beaten for using the verbiage, "whining and complaining," let me point out that if you are an experienced "short sale" Realtor you know going in that the system s----! You may as many other Realtors do choose to avoid short sales altogether.
The Beginning
(4 comments)

fort myers: What do you know about your lender; and the products they offer, or the ones they don't? - 08/11/10 01:40 AM
Okay I don't want to get to deep into the intrincacies of all the differences between what lenders do and/or don't do, in regards to the mortgage products that they offer, or those that they don't.
I would like to point out and make it clear that many times it's not necessarily the products themselves, but the overlays and restictions that are placed on the products.
What is an overlay?
An "overlay" essentially is where a lender takes the established/traditional guidelines of a particular product and then adds their own. If you're thinking that this means that they make them more restictive … (0 comments)

fort myers: don't whine... don't complain... don't make excuses - 08/07/10 03:16 AM
I was reading an article in "Success" Magazine by Don Yaeger entitled, "Mentors Never Die." The article is about Coach John Wooden, or at least we perceived him as a coach. He didn't.
"He always saw himself first and foremost as a teacher," ...Yaeger
He just didn't always see things like everybody else. That's a good thing, in case you don't know, at least in my opinion. So, where did many of Wooden's philosopies come from?
Dad
Here's one of Dad's creeds.
don't whine...don't complain...don't make excuses
Pretty good advise wouldn't you say? nice of Coach to pass it along. Well actually … (12 comments)

fort myers: knowyouroptions.com; fannies new, newer, newest help site. Is it helpful? - 08/06/10 06:42 AM
Well is it?
maybe?
maybe not?
What does it do?
The first thing that I identified that was helpful was that it was pretty easy to find out if Fannie Mae, actually held your mortgage, and if not there was a link which directed you to the freddie mac site. It actually was quite easy, and if you want to know some options, you need to be on the right site.
The next thing that I liked was that it was very user friendly. The intro lead me to believe, right up front, that I should continue, or at least I believed I should, … (6 comments)

fort myers: Southwest Florida's Waterfront Properties, No Oil, No Hurricanes, No Problems! - 08/05/10 03:22 AM
Maybe you should consider buying NOW! or not.
It's up to you.
Everybody talks about the age olde adage;
Buy Low sell High,
I'd like to add a thought here. Maybe you should just keep the property with the knowledge that you got one of the all time great buys.
Here's a question for you?
Do you really think that prices will stay down at their current levels?
Here's the answer;
NO.
The fact is that there is only so much waterfront property available. Add to that that there is only so much waterfront property available in a resort style area. … (4 comments)

fort myers: We killed Downpayment assistance programs, BUT gave away 12.6 billion in taxpayer funded credits.Should we rethink this? - 08/04/10 01:05 AM
Okay I was watching TBWS, and they brought up HR 600, a piece of legislation which is lingering around with no activity. The purpose of the bill is to restructure DPA's (downpayment assistance).
First a quick note on TBWS.com. That's "Think Big Work Small" and if you've never seen these guys, I personally think you should. You can get a basic subsciption free, that's right free, meaning at no cost, and the info is great, and presented in an exremely entertaining manner. Check it out.
Back to DPA's and Tax Credits
It has been reported that the taxpayers funded 12.6 billion … (4 comments)

fort myers: LOOK!!!!! what's happening in Southwest Florida with mortgage financing! - 08/02/10 06:56 AM
Wake Up!
Cape Coral, Ft. Myers, Lehigh Acres, San Carlos Park, Estero, Bonita Springs, and the rest of Lee County.
Hey, you too in Collier County.
It's a new day when it comes to mortgage financing.
Last month the door swung open for Condominium financing for primary residences and second homes.
Ya, you need some skin in the game;
75% LTV (25% downpayment) for primary residences
70% LTV (30% downpayment) for second homes
(second homes MUST be considered to be in a resort area)
the door slowly began to open.
Now!
95% LTV (5% downpayments) for primary residences
90% LTV (10% … (0 comments)

fort myers: Which Wolf do you feed? - 08/01/10 06:13 AM
The following comes from an old Cherokee tale, or so I'm told. I cannot give credit to the author, as the author is unknown, at least to me.
A Grandfather is telling his grandson;
"inside of every person a battle is raging between two wolves. One wolf is evil. It's angry, jealous, unforgiving, proud, and lazy. The other wolf is good. It's filled with love, kindness, humility, and self control."
Thes two wolves are constantly fighting.
The grandson asks, " which wolf is going to win?"
The grandfather smiles and answers,
"whichever one you feed."
So, which one do you choose to … (5 comments)

fort myers: Contract Dates, Some Helpful Hints - 07/28/10 12:15 AM
Okay, so what's the big deal about contract dates? Well quite frankly, for me at least, the big deal is that I take them seriously.
I hate extensions!
Let's start by pointing out the obvious, or not so obvious.
A 30 day closing is not a 30 day closing.
Here's the formula;
Take 30 calendar days, subtract 8 days for weekends, and we now have, you got it
22 business days
Just for fun let's throw in a holiday, allow 2 days. That's right 2 days, because that's the impact I see major holidays having. Now recalculate, and the new result is
20 … (10 comments)

fort myers: If you're facing FORECLOSURE, is Bankruptcy the answer? - 07/26/10 01:57 AM
First of all in bold print and capital letters;
I AM NOT, AND I REPEAT I AM NOT, AN ATTORNEY.
If you're facing foreclosure and you want to know if bankruptcy is an alternative you should seek out a reputable, knowledgable attorney who specializes in Bankruptcy.
If this is where you're at, hire the best, it's that important. With no disrespect to your neighbor the attorney, or the attorney from church, hire the best in the field, even if he/she is a complete stranger. After all you're looking for legal advice, not friendship.
How do you know if Bankruptcy is the … (0 comments)

fort myers: "Unemployment at 9% till 2012," One angry man's response! - 07/24/10 02:38 AM
CNNMoney.com's Jeanne Sahadi reported yesterday that the White House expects that unemployment will stay at or above 9% until 2012. 
This Is NOT acceptable! Period, end of discussion!
Well, not quite, the end of discussion part I mean.
Maybe if the White House would spend it's time on job creation, as opposed to extending unemployment benefits, we might see some progress.
Maybe, if our elected officials, both parties, would devote their attention to job creation, instead of their constant bickering and finger pointing, we could solve this probelm. I actually believe we could. When it comes to jobs we don't care about … (7 comments)

fort myers: I'm LOOKIN', LOOKIN', LOOKIN' for Veteran Buyers in Lee and Collier Counties, Do You Want To Know Why? - 07/22/10 02:50 AM
I'm LOOKIN' for Veteran Buyers in Cape Coral ....and
I'm LOOKIN' for Veteran Buyers in FT. Myers...and
I'm LOOKIN' for Veteran Buyers in Lehigh Acres...and
I'm LOOKIN' for Veteran Buyers in San Carlos Park...and
I'm LOOKIN' for Veteran Buyers in Estero...and
I'm LOOKIN' for Veteran Buyers in Bonita Springs...and
I'm LOOKIN for Veteran Buyers in Collier County...and
Do you want to know why?
Well, I'll tell you why.
One reason is that I continue to hear Veterans tell me that they have been discouraged by their Realtor from using their VA benefit. That's a benefit that they earned! it was not … (0 comments)

fort myers: It's baaaaaaaaaaaaaack! Condominium financing is making a comeback in Southwest Florida. - 07/16/10 01:33 AM
If you're looking to purchase a condo in Cape Coral, Ft. Myers, Estero, Bonita Springs, the beach, the islands, or in Collier County I've got good news for you. The door is opening for condominium financing.
That's good news, but let's not get too crazy here.
First the obvious, from "the master of the obvious," you need to be looking at a stable community.
That's a must for a lender, it should be for you too!
Delinquent dues, habitual special assessments, a lack of cash resrves, excessive foreclosures, and an excessive investor ratio are just not things that we're interested in. Oh ya, … (0 comments)

fort myers: The Coulda, Shoulda Club Annual Membership Drive! - 07/15/10 03:44 AM
Man, membership has just skyrocketed since the formation of the club back in the fall of 2009. I just can't keep up with it. Thankfully the feedback from the members has been strong.
I keep hearing comments like, boy the houses that we liked last year all sold at prices that just aren't available any more.
Well you know, you coulda/shoulda, but you didn't.
But you will get a chance to solidify your status in the club and help introduce us to new potential members. Maybe I can do a t-shirt or something.
All you have to do is take a … (4 comments)

fort myers: Buyers Just LOVE Southwest Florida, I mean They LOVE It! - 07/10/10 03:58 AM
Doom & Gloom go away.
I've been talking with buyers and potential buyers in Cape Coral, Fort Myers, Lehigh Acres, San Carlos Park, Estero, Bonita Springs, and Fort Myers Beach and they just love the market.
I mean they're excited!
We've got
great prices
strong inventory
great rates
white sandy beaches
golf, golf, and more golf
and
sunshine galore!
The only problem that I see is there's too much $$$. I keep reading the papers about how bad things are and yet cash continues to pour into Southwest Florida. Cash Buyers Yuck! (just from my point of view)
So … (0 comments)

fort myers: Lenders Just Can't Do Anything Right! - 07/10/10 01:10 AM
This has to be true because I hear it all the time, plus I read about it in Blogs and through the national media. You've just got to love the national media.
Well, like most things sometimes it's just how you look at it, whether you see all aspects of a situation, or just what you want to, or just what supports you're position, and/or beliefs.
Here's a couple of mine.
Mortgage Currentcy;
I will define this term not as $$$$$, but as mortgages which are current. This may stop at lot of readers right here as they do not want … (4 comments)

fort myers: Prisoners Receive Homebuyer Tax Credit, Including Some Lifers, Really! - 06/23/10 03:41 AM
CNNMoney.com's staff writer Aaron Smith reports today that apparently the Homebuyers Tax Credit was very popular with some inmates, including some lifers.
"More than 1200 inmates, including 241 serving life sentences, defrauded the government of $9.1 million in tax credits reserved for first time homebuyers."
Really!
That's quite the program!
Like any CNN article there are some discrepencies, because the same article goes on to say that according to the Inspector General's report 715 prison lifers? which was it 241 or 715? were awarded $1.7 million. I'm not sure the actual number is as important as the fact that any … (2 comments)

fort myers: Appraisal Questions (or) Questions for Appraisers; Remember What Dad Used to Say - 06/19/10 09:02 PM
I wrote a blog yesterday about the appraisal process and how absurd it seemed to me. I got a response that basically said it's ALL the Lenders fault.
My daddy used to tell me;
there's two sides to every story
This situation is no exception. Here's a couple of pertinent questions, at least I think they're pertinent, along with a couple of other comments.
If you know that the lender wants comps within a mile of the subject, and they exist, why don't you use them?
Okay if they're not the best comps, in your opinion, why ignore them. This is … (4 comments)

fort myers: The Appraisal Process (or) Have We Lost Our Minds! - 06/19/10 04:41 AM
Many would say that those two are pretty much the same.
This morning while waltzing around facebook I saw a comment from Susan Milner (Florida Future Realty) about short sales and high prices/expectations from the lender/owners. I must say it is my opinion that when it comes to short sales, Susan is aces. I truly value her opinion.
The gist of the situation is that a lender may be looking for a certain price from the seller, but if a buyer went to the same institution for a mortgage, that the price the lender wanted may not be able to be supported … (9 comments)

fort myers: First Time Homebuyers-Here's some Helpful Hints! - 06/14/10 02:34 AM
Okay, if you're planning to buy a home in the near future, and I must point out planning is a great idea, I have a couple of suggestions for you. The first is
actually develop a plan, a course of action, so to speak!
Here's my 4 most important areas. There may be others but these are the 4 most important, in my opinion.
Credit
Let's start with the killer, credit cards.
Take a close look at your monthly statement, specifically the monthly balance as opposed to the available credit. If the balance is less than 50% of the available credit, you're … (0 comments)

 


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