New listing 1/2 acre 275,000 - 3720 38th Ave East Bradenton, FL 34208 - 11/30/09 03:41 PM

Just listed this rare newer home built in 2007.  Has a great big lot, and NO DEED RESTRICTIONS!  Easy drive to SR 70, and Sarasota or Bradenton. 
The home features upgrades uncommon for a home in the area.  Granite Counter tops, wood cabinets, tile floor in the main living areas, and plenty of details that make this a fine home.  3 Full bedrooms, 2 Baths, and a separate den.  The home also has a spacious three car garage.
Call me today if you are interested to see this great house.  Move in ready, and ready for you today!
Joe Murphy, … (0 comments)

Where are all the bank owned homes? - 11/23/09 12:25 AM
It was front page news that the number of foreclosures filings here in Manatee County has had 5687 foreclosure filings to date this year, which is an increase from last year.  This is a lot of homes and as an active agent it made me wonder where are all the bank owned inventory?
There are 4696 total active residential listings as of this evening (11/22/09). 474 "normal" are pending There are 149 active bank owned homes 123 pending There are 920 short sales active there are 940 pending The Statistics show two big things.
The action is happening on bank owned, and … (4 comments)

Are New Home sales pulling down market values? - 11/20/09 05:03 PM
I have been working with a buyer this week, and after seeing all the resale inventory including short sales, and foreclosures they decided on a new build.  What is amazing to me is that the deal they got with the local builder is BETTER than any of the comparable resales in that area.
A resale home that was essentially the same home as they purchased was an option, BUT it was 45,000 dollars more, and a SHORT SALE too.  The new construction will take 8 months to close, but a short sale can take 90-180 days to close.  Plus the new … (5 comments)

The funniest home ad I have seen! Is this a "real" commercial? you judge. - 11/11/09 04:53 PM
I know that this is a little unrelated, but when I saw this one I thought, what am I doing wrong? Maybe their approach would be a better, fresher, way to sell general real estate too! … (8 comments)

Deed for Lease Gives Second Chance for Las Vegas Homeowners - 11/07/09 12:37 PM
This is an interesting solution that will potentially make lenders into landlords for the current homeowner.  This would seem to potentially solve the problem many underwater homeowners have to at least stay in their home that they love, and a price that is reasonable.
Why wouldn't they just lower the principle to the current market value? That would give the homeowner much more incentive to stay, and also keep them vested in the property.
Via Diann Tonnesen (Prudential Americana Group Realtors):
For Las Vegas home owners who have been unable to qualify for a loan modification and are facing foreclosure, a new Fannie … (0 comments)

Obama signs the First Time home buyer extension.. a collective sigh of relief. - 11/06/09 04:01 PM
It's finally really here.  Of course, this is a little old news, as people have been saying that the tax credit was approved fro the past week.  Nothing is in stone until the President signs the bill into law.
It would have been nice if this could be extended to ALL home buyers.  This would cause the investors back in the market in droves, and snapping up all the investment homes.  Could you imagine buying a rental home for 50,000 and getting back 8,000 of your taxes? 
Kind of like when everyone was driving HUMMERS because they could write off the … (5 comments)

Wells Fargo short sale approved in less than 30 days! Sign of things to come? - 11/05/09 09:21 PM
This was a great day! I just had a short sale come back approved in less than 30 days pending!
I love Wells Fargo.  I listed the home preparing the seller for a long painful process that would take 6 months to a year to complete.  I advised her to call her lender to let  them know she wanted to do a short sale. 
The NEXT day, I get a call from the assigned negotiator.  That same day, I get a call from the BPO agent!  THIS WAS BEFORE I EVER HAD AN OFFER!
Within two weeks I get the unit under … (7 comments)

Conflicts of interest? Loan servicer pulls one on the investors too. - 11/03/09 05:47 PM
I just attended a Foreclosure rescue seminar this past weekend. One of the things that  I learned is their is another victim besides the homeowner, the INVESTOR.  These "mortgage backed securities" were supposed to be safe investments.  Triple AAA rated, SAFE, reasonable returns.  The kind of investments that were sold as low risk.  They too are being burned in this real estate bubble.
The people in the middle: servicer(s), and the firms that sold these mortgages to the investors got their profits and no consequence.   
 The homeowner loses their home and credit, and the INVESTOR that actually put up real money, takes the loss.  No one … (2 comments)