The Foreclosure Blogger

Lake Front 2/2 - Can't Beat the Price!

Wendy Smith Real Estate — Tue, 24 Nov 2009 13:24:33 -0600

Wendy Smith | Wendy Smith Real Estate | 727-452-3301

3807 Lake Shore Dr, Palm Harbor, FL

Lake Front

2BR/2BA Single Family House

offered at $128,000

Year Built	1988
Sq Footage	931
Bedrooms	2
Bathrooms	2 full, 0 partial
Floors	1
Parking	1 Car garage
Lot Size	4,590 sqft
HOA/Maint	$0 per month

DESCRIPTION

Enjoy Lake St George from your own backyard! Split bedroom plan, great area close to shopping, ez access to Tampa & beaches, Where else can you find lake front for this price?? Suggest Short Sale offer @ $128,000

see additional photos below

PROPERTY FEATURES

- Central A/C	- Central heat	- Walk-in closet
- Family room	- Living room	- Dishwasher
- Refrigerator	- Stove/Oven	- Microwave
- Attic	- Laundry area - garage	- Balcony, Deck, or Patio
- Yard

COMMUNITY FEATURES

- Swimming pool(s)	- Tennis court(s)	- Lake
- Playground

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Wendy Smith

Wendy Smith Real Estate

727-452-3301

For sale by agent/broker

Equal Opportunity Housing

Posted: Nov 24, 2009, 9:56am PST

Pool Home - Conservation Area - Short Sale

Wendy Smith Real Estate — Tue, 24 Nov 2009 13:22:03 -0600

Wendy Smith | Wendy Smith Real Estate | 727-452-3301

1079 Mainsail Dr, Tarpon Springs, FL

Pool Home - Great Condition

3BR/2BA Single Family House

offered at $235,000

Year Built	1992
Sq Footage	1,889
Bedrooms	3
Bathrooms	2 full, 0 partial
Floors	1
Parking	2 Car garage
Lot Size	6,955 sqft
HOA/Maint	$0 per month

DESCRIPTION

Great Family Pool Home! Private back yard backs up to conservation area, split bedroom plan, spacious kitchen, in great condition - suggested short sale offer $235,000

see additional photos below

PROPERTY FEATURES

- Central A/C	- Central heat	- Walk-in closet
- Tile floor	- Family room	- Living room
- Dishwasher	- Refrigerator	- Stove/Oven
- Microwave	- Attic	- Laundry area - inside
- Yard	- Swimming pool

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4

Contact info:

Wendy Smith

Wendy Smith Real Estate

727-452-3301

For sale by agent/broker

Equal Opportunity Housing

Posted: Nov 24, 2009, 9:53am PST

Big & Beautiful - Short Sale

Wendy Smith Real Estate — Tue, 24 Nov 2009 13:19:38 -0600

Wendy Smith | Wendy Smith Real Estate | 727-452-3301

1676 Oak Park Ct, Tarpon Springs, FL

Big & Beautiful - move in condition, wood floors, split bedroom plan, dining room, family room - this one has it all! Short Sale - make offer!

4BR/3.5BA Single Family House

offered at $273,500

Year Built	2001
Sq Footage	2,377
Bedrooms	4
Bathrooms	3 full, 1 partial
Floors	1
Parking	2 Car garage
Lot Size	Unspecified
HOA/Maint	$0 per month

see additional photos below

PROPERTY FEATURES

- Central A/C	- Central heat	- High/Vaulted ceiling
- Walk-in closet	- Tile floor	- Family room
- Living room	- Dining room	- Dishwasher
- Stove/Oven	- Microwave	- Granite countertop
- Attic	- Laundry area - inside	- Yard

OTHER SPECIAL FEATURES

- Big & Beautiful Short Sale

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Wendy Smith

Wendy Smith Real Estate

727-452-3301

For sale by agent/broker

Equal Opportunity Housing

Posted: Nov 24, 2009, 9:34am PST

Lake Front Short Sale - Palm Harbor, FL

Wendy Smith Real Estate — Tue, 24 Nov 2009 13:16:03 -0600

Wendy Smith | Wendy Smith Real Estate | 727-452-3301

3807 Lake Shore Dr, Palm Harbor, FL

Lake Front

2BR/2BA Single Family House

offered at $128,000

Year Built	1988
Sq Footage	931
Bedrooms	2
Bathrooms	2 full, 0 partial
Floors	1
Parking	1 Car garage
Lot Size	4,590 sqft
HOA/Maint	$0 per month

DESCRIPTION

see additional photos below

PROPERTY FEATURES

- Central A/C	- Central heat	- Walk-in closet
- Family room	- Living room	- Dishwasher
- Refrigerator	- Stove/Oven	- Microwave
- Attic	- Laundry area - garage	- Balcony, Deck, or Patio
- Yard

COMMUNITY FEATURES

- Swimming pool(s)	- Tennis court(s)	- Lake
- Playground

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Wendy Smith

Wendy Smith Real Estate

727-452-3301

For sale by agent/broker

Equal Opportunity Housing

Posted: Nov 24, 2009, 9:56am PST

YIKES! My mail outs don't work anymore!

Wendy Smith Real Estate — Thu, 15 Oct 2009 15:57:42 -0500

I guess it was bound to happen but I was hoping it wouldn't - my direct mail campaign has failed to do it's job. For years I have used post cards and a tri-fold color brochure to generate leads. The system was tweaked over the years and worked wonderfully.

Recently though, due to the outrageous costs of postage, more postcards than brochures have been sent. www.Click2mail.com makes it very easy to maintain mail lists, upload new text and manage the timing of mailing the cards. (I think they also do letters but I only use the cards)

My typical postcard is full color, 80# white gloss with UV coating. The text is meant to lead recipients either to a phone to call or to my website to learn more about alternatives to foreclosure and how we can help. The target is sellers, not buyers.

In the last two weeks, nearly a thousand pieces were mailed with only one call and I suspect that woman was drunk. That's a very bad return.

It is time to shop for a marketing makeover. The problem is, however, the marketing programs I've found seem to focus on attracting buyers, not sellers.

I suspect that the current status of banks not foreclosing as quick as they once did has something to do with it as some homeowners must figure why do anything? That may be a factor but certainly it cannot account for virtually no replies to 1000 mail outs!

It doesn't make sense to spend any more money on a dead mail-out system no matter how good it once was.

My lead generation system needs a makeover. Though a bit embarrassing to admit, too much money has already been wasted on PPC and SEO type stuff e.g. lots of $$$ = no increase in leads.

I really do enjoy helping people through their [pre-foreclosure] crisis whether it be by loan modification, short sale, buy-back, whatever. I just seem to have like writers-block in my marketing!

Any ideas?

Strategic Default - a Not so New Concept

Wendy Smith Real Estate — Sat, 10 Oct 2009 16:40:16 -0500

Lately there have been several articles and blog posts centered on Strategic Default. While the phrase seems to be new, there is nothing new about the concept.

Strategic Default is making a conscious decision to stop making payments on a debt. The debt can be a mortgage, car loan or even a credit card balance. Bankruptcy is a form of strategic default.

Strategic default. It certainly sounds nicer than foreclosure.

Remember last year's popular Buy & Bail? That too was strategic default. For anyone who may not remember, Buy & Bail is where a homeowner, upside down in his residence, buys a 2^nd home while his or her credit score is still good. Of course the new purchase is typically comparable or sometimes better than the current home but at much better price. Once the purchase is complete, the homeowner simply defaults on the current home. Strategic Default. Lenders caught on to that strategy.

For anyone working with distressed property owners, more than likely, strategic default has been discussed in one form or another. Maybe it was referred to as Positioning. That is another good word but very similar to Strategic Default. Positioning is when a person, realizing he or she is "losing ground", systematically (strategically) puts a plan in to motion wherein assets are protected, moved, or maybe hidden. I spoke with an asset protection attorney recently who confided that business has never been so good.

It is not uncommon for investors to practice strategic default. An investor looks at his portfolio and selects the properties that have no chance of ever catching up with the real estate market again and makes a decision, a business decision, to default on properties with significant negative equity.

The Kenny Rogers song lyrics ‘ You've got to know when to hold ‘em, know when to fold ‘em' comes to mind.

Strategic default is as basic as any homeowner facing financial difficulties and having to make a decision as to which bills get paid.

We will see a lot more "strategic default" as lenders continue to refuse to work out viable plans with homeowners AND investors.

As Shakespeare wrote "A rose by any other name..." meaning what matters is what something is, not what it is called.

In this case, no matter what it is called, property owners making the decision to default on their loans will be with us until lenders make the decision to truly work with property owners.

Whether by choice or by forced choice, strategic default by some homeowners will continue to have a negative impact on those homeowners that ARE paying their loans and that do have equity...or did.

Point 2 Agent sites.....

Wendy Smith Real Estate — Thu, 24 Sep 2009 11:27:58 -0500

OK, I admit it, I am a Realtor not a webmaster. It's all I can do to keep twittering, blogging, Facebooking AND stay on top of my real estate acitvities...

WHEW!

My website www.WendySmithRealEstate.com has been evaluated and re-evaluated. The first thing the evaluators always point out is that my site uses frames and that, I have learned, is not a good thing.

I've been with my host for years and hate to have to leave but these frames are thwarting my online efforts. [enter big sigh]

Point2Agent seems to be a good platform and I used to use to have a freebie site. It was OK, after all it was free.

Now, I am re-visiting Point2Agent.com as a platform. I thought there was an ActiveRain group dedicated to Point2Agent websites ...

I am hoping to find someone or a company that will transfer my old site to a new Point2 site without it costing me an arm and a leg.

Anybody out there that can do this?

Thanks in advance.

Message to Buyers Agents

Wendy Smith Real Estate — Tue, 08 Sep 2009 11:02:14 -0500

As colleagues and real estate professionals, most of us abide by and are totally familiar with the Realtor Code of Ethics. Even if an agent is not a member of any Association of Realtors, there are scruples that should govern their real estate practices.

I am referring specifically to the agents that have had to "get a real job" yet continue to have an active real estate license with the hopes of closing a sale now and then.

When a buyer's agent is not available, all too often the buyer is left to contact the listing agent for property specifics including appointment setting to preview the property. Hello? This is the job of the buyer's agent who can usually obtain all the necessary info from the Multiple Listing Service.

I've had the same scenario happen twice in the last 4 or 5 days - one agent had the audacity to say "Well, you are getting the listing commission", to which I replied "I will receive the listing commission without doing YOUR job, thank you!". She considered me rude and said so.

Then just this morning, a Craigslist.com ad generated a call from a prospective buyer. I asked if she was working with a buyers agent and she said yes, but her agent worked during the day and .....

Dear, dear buyer's agents: yes we listing agents do need you and your clients but please, we do not want to do your job and have you step in at the contract-writing moment so that you may collect a commission.

Please inform your buyers that YOU will help them with the details of any house or ad they see, and if they must call the Listing Agent, explain to your client that they need to disclose their relationship with you BEFORE taking up the listing agent's time.

Our industry is evolving and rules seem to change daily but ethics ... well, ethics haven't changed.

How to Lose Your Home to Foreclosure

Wendy Smith Real Estate — Sat, 29 Aug 2009 11:11:42 -0500

Step 1. Don't communicate with your lender. As you miss making the monthly mortgage payments, the collections department will commence their calling campaign in an attempt to collect the payments. Their calls are typically quite aggressive, the calls are frequent and sometimes the caller is demeaning and insulting.

TIP: It is easy to identify these calls using caller-ID and simply not answer the phone when your lenders number pops up on your caller ID. Also, if the caller appears as UNKNOWN, it is often a bill collector or the lender attempting to collect the debt.

By not communicating with your lender, your lender has no way of knowing whether or not you are eligible for a loan modification or other repayment arrangements. Not answering your phone will keep them in the dark.

Step 2. Ignore all mailings and correspondence. Your lenders collection attempts will most likely include sending form letters to the last known address they have for you. Initially, the correspondence is clearly marked and easily identified as being sent by your lender. This is only another attempt to collect the debt (mortgage payments).

The form letters usually contain phone numbers and attempt to compel you to call. Often these letters will suggest different options available to help keep homeowners in their homes. The options usually always include you as the homeowner providing information and documentation such as proof of income, bank statements, etc.

The EASY BUTTON method is to ignore all mailings. There is no need to clutter up space by retaining the correspondence. Simple throw it all away.

Step 3. Depending on which state you reside, one way or another, you will be notified of the bank's Intent to Foreclose. Simply put, this is a legal action in which the bank has the right to take possession of the collateral used for the loan - your home.

The service of this legal notice can be ignored as well.

Step 4. Eviction - defined as the expulsion of someone (such as a tenant or homeowner) from the possession of land by process of law. In many states, the Sheriff will come to your door and remove you & your family from the premises.

It's that simple. Losing your home to foreclosure is a simple process.

Saving your home from foreclosure is a bit more complicated.

Visit www.WendySmithRealEstate.com for some helpful information and professional assistance.

Banks to do Buy Backs?

Wendy Smith Real Estate — Mon, 24 Aug 2009 16:59:38 -0500

There's a couple of great ideas floating around: (1) allow homeowners to remain in & lease their home after foreclosure, and (2) offer a buy back in which the homeowner could purchase the home after a specific term (3 years? 5 years?)

Buy backs are not a new idea, buy backs have been around for years including during the boom. Back in the boom-time, investors saved many homeowners from foreclosure by purchasing the property, renting it back to the homeowner with an option to buy it back. One notable difference is that back then, these investors were often referred to as scam artists as they were blamed for taking advantage of distressed homeowners.

The St. Petersburg Times ran a good article House: Let Foreclosed Homeowners Rent on August 15, 2009. The article offers a nice snapshot of the pros and cons of buy backs.

The idea is great, but as most homeowners and agents would agree, not if banks run the program. Currently I am working a seamless short sale. The key is disclosure otherwise the buy back could be deemed not to be an arm's length transaction and possibly considered fraud. Some banks will not approve a short sale that includes the homeowner remaining in the property - buy back option or not.

A buy back program has the potential for huge success and win-win opportunities for all parties....again, as long as the banks don't run it.

What's Next? Personal Injury Attorneys sueing Lenders?

Wendy Smith Real Estate — Sun, 09 Aug 2009 10:57:59 -0500

Why not?

Think about it. How long should a short sale actually take?

Let's suppose an offer comes in on a house. A professional short-sale listing agent has already worked with the seller gathering the paperwork that will be required fr the lender. Sme lenders actually will image the documents prior to an offer.

The contract, PHUD and support docs are faxed to the lender. Let's say two weeks for set-up which includes the imaging.

Let's give it another week to assign the file to a negotiator. Total time so far is 3 weeks.

The negotiator reviews the file, orders the BPO, BPO comes in & goes thru the review process, negotiator runs the numbers - either an offer is close enough to submit to the investor or it's not. At the end of 4 weeks, let's give 5 weeks, the listing agent should be able to hear from the lender as to a counter offer or that the file will be submitted to the investor for approval.

Let's give the investor 3 to 4 weeks. We are at the two month period now.

Investor approves, counters, whatever - maybe it has to go to MI. whatever.

Then 30 days to close. That's 3 months - ok, be generous, let's say 4 months - that is SIXTEEN weeks!

The homeowner has this three/four month period to vacate the home. Just 3 or 4 more late payments hit his credit report. The short sale closes and he can go on with his life.

But we know that is NOT how it happens. Just ask anyone working a BoA or CW short, or how about Aurora? Let's see a show of hands for shorts that take longer than 6 months? 9 months? I'll bet there are quite a few that could raise a hand for a 12-month short too.

The point is, the lenders CAN staff these departments to adequately handle the volume. There are plenty of unemployed people with mortgage and related backgrounds that would train easily to fill the vacancies. Lenders received plenty bail out money (I still don't know where that $$$ went!)

The homeowner suffers more damage to his credit report with the higher # of lates and faces an increased deficiency amount. The increased damage to the homeowner is due to the lender not properly servicing the short sales and loan modifications.

I hope an attorney figures it out how to quantify these damages to dollars and perhaps start some sort of class action law suit.

I read recently that a guy lost his job. He got behind on his house payments. He put his house ont he market for a short sale. Meanwhile he found a job in another state and was prepared to relocate his family. Just before the move, the new employer called him to withdraw the job offer - seems that they ran his credit. Unfortunately, the new job required a good credit score.

This country is credit driven - these lenders wasting so much time to process short sales are having a huge residual impact on the lives of the citizens of this country.

C'mon, there must be an attorney out there that can hit these lenders in the pocket (aka bottom line) - it's the ONLY language they understand. Anybody?

Sheriff Joe - I Love this Guy!!

Wendy Smith Real Estate — Fri, 31 Jul 2009 15:04:51 -0500

This post is just for sharing (not looking for points) -

(as sent from a friend - you gotta read the whole thing!)

SHERIFF JOE IS AT IT AGAIN!
You all remember Sheriff Joe Arpaio of Arizona , who painted the jail cells pink and made the inmates wear pink prison garb. Well......... He's at it again.

Oh, there's MUCH more to know about Sheriff Joe!

Maricopa County was spending approx. $18 million dollars a year on stray animals, like cats and dogs. Sheriff Joe offered to take the department over, and the county supervisors said okay.

The animal shelters are now all staffed and operated by prisoners. They feed and care for the strays.. Every animal in his care is taken out and walked twice daily. He now has prisoners who are experts in animal nutrition and behavior. They give great classes for anyone who'd like to adopt an animal. He has literally taken stray dogs off the street, given them to the care of prisoners, and had them place in dog shows.

The best part? His budget for the entire department is now under $3 million. Teresa and I adopted a Weimaraner from a Maricopa Countyshelter two years ago. He was neutered, and current on all shots, in great health, and even had a microchip inserted the day we got him. Cost us $78.

The prisoners get the benefit of about $0.28 an hour for working, but most would work for free, just to be out of their cells for the day.. Most of his budget is for utilities, building maintenance, etc. He pays the prisoners out of the fees collected for adopted animals.

I have long wondered when the rest of the country would take a look at the way he runs the jail system, and copy some of his ideas. He has a huge farm, donated to the county years ago, where inmates can work, and they grow most of their own fresh vegetables and food, doing all the work and harvesting by hand.

He has a pretty good sized hog farm, which provides meat, and fertilizer. It fertilizes the Christmas tree nursery, where prisoners work, and you can buy a living Christmas tree for $6 - $8 for the Holidays, and plant it later. We have six trees in our yard from the prison.

Yup, he was reelected last year with 83% of the vote.
Now he's in trouble with the ACLU again. He painted all his buses and vehicles with a mural, that has a special hotline phone number painted on it, where you can call and report suspected illegal aliens. Immigrations and Customs Enforcement wasn't doing enough in his eyes, so he had 40 deputies trained specifically for enforcing immigration laws, started up his hotline, and bought 4 new buses just for hauling folks back to the border. He's kind of a 'Git-R Dun' kind of Sheriff.

TO THOSE OF YOU NOT FAMILIAR WITH JOE ARPAIO

HE IS THE MARICOPA ARIZONA COUNTY SHERIFF

AND HE KEEPS GETTING ELECTED OVER AND OVER
THIS IS ONE OF THE REASONS WHY:

Sheriff Joe Arpaio (In Arizona ) who created the ' Tent City Jail':
He has jail meals down to 40 cents a serving and charges the inmates for them.

He stopped smoking and porno magazines in the jails. Took away their weights, cut off all but 'G' movies.

He started chain gangs so the inmates could do free work on county and city projects.

Then he started chain gangs for women so he wouldn't get sued for discrimination.

He took away cable TV until he found out there was a federal court order that required cable TV for jails so he hooked up the cable TV again and only let in the Disney channel and the weather channel.

When asked why the weather channel He Replied, "So They Will Know How Hot It's Gonna Be While They Are Working On My Chain Gangs".

He cut off coffee since it has zero nutritional value.

When the inmates complained, he told them, 'This Isn't The Ritz/Carlton......If You Don't Like It, Don't Come Back.'

What would you do?

Wendy Smith Real Estate — Fri, 31 Jul 2009 09:52:19 -0500

It seems that no matter how long I'm in this business, there's always a new twist.

A colleague of mine called to ask my opinion as to what I would do in her situation. After listening to her dilemma and offering my two cents; I thought I'd see what other Realtors would do.

Here's the story...I'm going to put it in first-person for simplicity:

A few days ago, I receive a call from a guy named Todd who said he was referred to me by a past client (love those referrals!). Todd says he is a first time home buyer and wants the same great deal like I "got for his friend" (the friend bought a short sale).

No problem says me. Todd gave the address of a property that has his interest and wanted me to check into it. The property however is in Orlando and I am a couple counties away in Clearwater. Mmm.

I'm already thinking that I need to refer Todd to a local agent...but I promise to check on the property and get back to him in the morning.

Todd calls about an hour later and wants to send me his pre-approval letter. OK, that's fine. So as we continue to chat, I get the sense he has already seen the house.

Todd admitted that not only had he seen the house but he made an offer!

It was explained to Todd that he needs to contact this agent with his questions and that she is his Buyer's Agent - part of her job is to answer questions. Todd explains that he is not comfortable with this agent as she seems to have very little experience with short sales - the house he likes is a short sale.

He further explains that he made his offer on July 9th with an acceptance date of July 10th. On July 10th, the agent called to tell him that the listing agent is gathering contracts and will present all the contracts to the bank at once (oh no! not one of those listing agents!).

Todd has not heard from her since.

Todd wants to "fire" this agent and "hire" me to write up a new offer, at a better price. I explained to Todd that there an issue about ethics - he really 'belongs' to this other agent. Todd informed me that he is not going to work with her anymore regardless of whether I agree to work with him or not.

I know what I suggested to my colleague regarding her position.

I'm wondering how many agents would work with Todd and how many would not. (just curious)

What would YOU do?

Approved Short Sale!

Wendy Smith Real Estate — Sat, 27 Jun 2009 08:31:03 -0500

Wendy Smith | Wendy Smith Real Estate | 727-452-3301

1506 Lynn Ave, Clearwater, FL

APPROVED SHORT SALE!

4BR/3BA Single Family House

offered at $86,500

Year Built	1959
Sq Footage	1,672
Bedrooms	4
Bathrooms	3 full, 0 partial
Floors	1
Parking	Unspecified
Lot Size	6,180 sqft
HOA/Maint	$0 per month

DESCRIPTION

Lots of space! Split bedroom plan, huge family room, fenced back with room for pool, pre-foreclosure and bank says SELL - they've already approved this low, low price! OK for FHA! First time home buyers use the $8000 tax credit.

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
Tile floor	Family room	Living room
Dining room	Refrigerator	Stove/Oven
Attic	Laundry area - inside	Yard

OTHER SPECIAL FEATURES

Must Sell This Weekend!!

ADDITIONAL PHOTOS

Photo 3	Photo 1
Photo 2	Photo 4

Contact info:

Wendy Smith

Wendy Smith Real Estate

727-452-3301

For sale by agent/broker

Equal Opportunity Housing

Posted: Jun 27, 2009, 5:17am PDT

Clearwater - EZ Access to Beaches, Tampa

Wendy Smith Real Estate — Sat, 27 Jun 2009 08:18:21 -0500

Wendy Smith | Wendy Smith Real Estate | wendy@wendysmithre.com | 727-452-3301

115 N Jupiter, Clearwater, FL

GREAT LOCATION! walking distance to bus lines, restaurants, EZ access to Clearwater beach, Tampa (this is a short sale)

3BR/1BA Single Family House

offered at $82,000

Year Built	1952
Sq Footage	1,131
Bedrooms	3
Bathrooms	1 full, 0 partial
Floors	Unspecified
Parking	1 Car garage
Lot Size	11,020 sqft
HOA/Maint	$0 per month

DESCRIPTION

remodeled just 2 years ago but needs a little TLC today - new carpet would make this move-in ready. Huge yard - great for kids & pets or add a Pool!

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Living room
Dining room	Refrigerator	Stove/Oven
Microwave	Attic	Laundry area - garage
Yard

OTHER SPECIAL FEATURES

Short Sale - Great Price!

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 1	Photo 2

Contact info:

Wendy Smith

Wendy Smith Real Estate

wendy@wendysmithre.com

727-452-3301

For sale by agent/broker

Equal Opportunity Housing

Posted: Jun 27, 2009, 5:08am PDT

Short Sale Sweetie in Clearwater, FL

Wendy Smith Real Estate — Sat, 27 Jun 2009 08:08:58 -0500

Wendy Smith | Wendy Smith Real Estate | 727-452-3301

1334 Friend Ave, Clearwater, FL

Short Sale Sweetie - character, great location, huge lot - needs
just a little TLC.

3BR/1BA Single Family House

offered at $75,000

Year Built	1942
Sq Footage	1,009
Bedrooms	3
Bathrooms	1 full, 0 partial
Floors	Unspecified
Parking	1 Car garage
Lot Size	Unspecified
HOA/Maint	$0 per month

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Hardwood floor
Family room	Living room	Refrigerator
Stove/Oven	Attic	Laundry area - garage
Yard

ADDITIONAL PHOTOS

Photo 1

Photo 2

Contact info:

Wendy Smith

Wendy Smith Real Estate

727-452-3301

For sale by agent/broker

Equal Opportunity Housing

Posted: Jun 27, 2009, 4:50am PDT

Tenants Rights.........Update

Wendy Smith Real Estate — Sat, 27 Jun 2009 07:18:28 -0500

A year ago, I wrote a post Tenants Rights & Foreclosure that discussed the absence of tenants rights when landlords don't pay their mortgage. Despite the fact that the tenants paid their rent, if the landlord's property was foreclosed upon, the tenant was out of luck.

Effective May 20, 2009 - the Protecting Tenants at Foreclosure Act became law and provides protection for tenants under the aforementioned circumstances.

The main provision, Section 1 (a) provides that a tenant be given 90 days notice to vacate (assuming a bona fide lease).

Who serves the notice? Foreclosure attorneys typically include unknown/known tenants on the summons service list - can the service be construed as notice? Surely a summons is a pretty good indicator that foreclosure looms.

Will foreclosure attorneys automatically give

90-day notice along with service of the summons to tenants?

Legally, I doubt if a lender or foreclosing attorney has the right to submit a notice to vacate until after the foreclosure sale. Even so, perhaps attorneys will play it safe and give notice along with the service of the summons. This is probably the easiest way to notify tenants.

Browse through Section 703 - it would appear investor-buyers are forced to take over Section 8 tenants whether they want to or not. This may hinder short sales

Tenants shopping for a new residence should try to verify the financial stability of the property owner.

Check the amount of equity in the property via public records. When signing a lease, include a clause providing for the possibility of a foreclosure; make a provision that allows the tenant to sue the landlord for moving expenses as well as a clause requiring a landlord to pay all mortgages/debts attached to a property. An ounce of prevention is worth a pound of cure.

While the Act does raise questions and has potential for abuse it is clearly a step in the right direction for tenants that pay rent and are caught between the bank and the landlord in the foreclosure process.

What if we tried to operate like our Government does?

Wendy Smith Real Estate — Wed, 17 Jun 2009 15:56:45 -0500

check this out...

http://www.youtube.com/watch?v=R2a8TRSgzZY

this is great.....or sad.

Lake Tarpon - Dock your boat out your back door!

Wendy Smith Real Estate — Thu, 21 May 2009 10:04:13 -0500

Wendy Smith | Wendy Smith Real Estate | 727-452-3301

2600 Cyprus Dr, Palm Harbor, FL

Direct Access to LAKE TARPON

2BR/2BA Single Family House

offered at $149,900

Year Built	1977
Sq Footage	846
Bedrooms	2
Bathrooms	2 full, 0 partial
Floors	1
Parking	Unspecified
Lot Size	5,750 sqft
HOA/Maint	$0 per month

DESCRIPTION

dock your boat right outside your backdoor, Florida living at it's best! Absolutely a steal at this price - subject to bank approval. A must see INSIDE!

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Tile floor
Breakfast nook	Refrigerator	Stove/Oven
Laundry area - garage	Yard	Swimming pool

OTHER SPECIAL FEATURES

Waterfront - Pool - Short Steal

ADDITIONAL PHOTOS

Photo 4	Photo 1
Photo 2	Photo 3
Photo 5

Contact info:

Wendy Smith

Wendy Smith Real Estate

727-452-3301

For sale by agent/broker

Equal Opportunity Housing

Posted: May 21, 2009, 6:52am PDT

Short Sale Sweetie - Move in Ready

Wendy Smith Real Estate — Thu, 21 May 2009 09:51:16 -0500

Wendy Smith | Wendy Smith Real Estate | wendy@wendysmithre.com | 727-452-3301

310 Fernwood Ave, Clearwater, FL

Ready to move in - no work needed. Short Sale deal - subject to bank approval - great location close to bus line, shopping, EZ access to Tampa, Clear

2BR/1BA Single Family House

offered at $87,500

Year Built	1961
Sq Footage	875
Bedrooms	2
Bathrooms	1 full, 0 partial
Floors	1
Parking	Unspecified
Lot Size	8,400 sqft
HOA/Maint	$0 per month

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Tile floor
Family room	Dining room	Refrigerator
Stove/Oven	Attic	Laundry area - garage
Yard

OTHER SPECIAL FEATURES

Make an Offer!

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4

Contact info:

Wendy Smith

Wendy Smith Real Estate

wendy@wendysmithre.com

727-452-3301

For sale by agent/broker

Equal Opportunity Housing

Posted: May 21, 2009, 6:41am PDT

Clearwater Bungalow - Short Steal!

Wendy Smith Real Estate — Thu, 21 May 2009 09:41:12 -0500

Wendy Smith | Wendy Smith Real Estate | 727-452-3301

1243 Idlewild Dr, Clearwater, FL

Fantastic Clearwater Bungalow! Needs work but has TONS of Potential! Short sale, subject to lender approval.

2BR/1BA Single Family House

offered at $68,000

Year Built	1925
Sq Footage	980
Bedrooms	2
Bathrooms	1 full, 0 partial
Floors	1
Parking	Unspecified
Lot Size	11,600 sqft
HOA/Maint	$0 per month

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
Hardwood floor	Living room	Breakfast nook
Refrigerator	Stove/Oven	Attic
Laundry area - garage	Balcony, Deck, or Patio	Yard

OTHER SPECIAL FEATURES

Quick Sale - Need Cash

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4

Contact info:

Wendy Smith

Wendy Smith Real Estate

727-452-3301

For sale by agent/broker

Equal Opportunity Housing

Posted: May 21, 2009, 6:28am PDT

Have you seen this yet?

Wendy Smith Real Estate — Tue, 31 Mar 2009 10:10:11 -0500

Here's photo that is circulating via email...

Better still - did you see this in the NY Times?

Banks Starting to Walk Away from Foreclosures

Hang on folks, this ride ain't no where near over.

Short Sale Sacrifice

Wendy Smith Real Estate — Thu, 26 Mar 2009 09:42:25 -0500

Not a fixer Upper! This charming house is turn-key and ready to move in - 2 bedroom, 1 bath huge Family Room, garage - nice corner lot.

Great location close to bus line, EZ access to St. Pete College, Tampa and beautiful Clearwater Beach.

Great for FHA financing, first time home buyer or down sizing.

drive by 310 Fernwood Ave in Clearwater

north off Gulf-to-Bay, between Belcher & US19

(Please do NOT disturb occupants!!)

Call Wendy Smith Real Estate for more details

727-452-3301

Loan Modifications....Do They Work?

Wendy Smith Real Estate — Fri, 20 Feb 2009 11:07:05 -0600

The numbers are out: the latest industry statistics reflect that approximately fifty percent of all loan modifications will fail.

The numbers are no surprise. The term "loan modification" has become the catch all name for any repayment plan, sort of like referring to a tissue as Kleenex. Despite the bail outs and all the hype in the news about the banks working with homeowners the sad truth is that lenders remain as greedy as ever and homeowners are losing their homes at a record setting pace.

A few months ago there was a lot of talk about principal reductions to help homeowners keep their homes. Every lender that I've talked to in the last 60 days when asked about possible principal reductions, all have the same answer: ‘No'.

Sooner or later, these toxic mortgages will have to go away either by modification or termination (foreclosure). Loans must be modified to reflect today's value in conjunction with the borrower's ability to pay. Where is the value of a rate reduction when it is not commensurate with the borrower's ability to pay?

Example: a homeowner from West Palm Beach called a few weeks ago who was seeking help negotiating a loan modification with her lender. She has a decent job with good potential for continued employment. However she does earn less now and there is only one paycheck to support the household, not two like when she got the loan.

It was also determined that she is upside down in the house by at least $80,000, maybe more. Although her mortgage debt far exceeds the value of her home she insists she wants a loan modification. In her words, ‘I love my house'. That is emotion talking, not logic and certainly not good business.

IF her lender agreed to a repayment plan (aka loan modification) with monthly payments that she could afford; it is likely this loan modification would eventually fall in the bucket of defaulted loan modifications. Why? Because sooner or later this homeowner will realize that she is doing nothing but putting off the inevitable: losing the house.

For thousands of other homeowners though, loan modifications DO work -

the modification just has to be structured realistically and be a permanent solution - not a temporary fix. Not all homes are upside down and sometimes a payment adjustment coupled with money management counseling is all that is needed.

We can only hope that this latest release of industry statistics touting a 50% fall out rate of loan modifications doesn't wind up as just another excuse for lenders to avoid working with homeowners to keep them in their home.

What's next?

Wendy Smith Real Estate — Thu, 12 Feb 2009 16:48:07 -0600

OK, maybe I've been busy lately and distracted but I didn't know about defective Chinese drywall.

http://www.forthepeople.com/defective_chinese_drywall.htm?gclid=CNK81o6F2JgCFQRkswodojvjcQ

Why do we keep importing goods that can and should be manufactured from THIS country?

A Coldwell Banker colleague told me that CB already has [yet another] addendum to their contracts - yes, the CHINESE DRYWALL DISCLOSURE.

I've been to Home Depot with my husband while he bought drywall, I don't remember any tags saying where the drywall was made. Does it smell like rotten eggs right from the get-go or does it have to be installed for a year or two?

Last week when I went grocery shopping; I was determined to buy produce grown in our United States - I found produce from Chile, Costa Rica, Mexico but had to look really close to find produce grown in our soil. There were quite a few items that had no disclosure at all.

Are we still buying toys with lead paint - again, made in China?

I'm not against China; I'm against this country importing goods that can be made in THIS country by workers living in THIS country.

When are we going to say enough is enough?

Many of you may remember this:

First they came for the Jews, and I did not speak out because I was not a Jew. Then they came for the Communists, and I did not speak out because I was not a Communist. Then they came for the trade unionists, and I did not speak out because I was not a trade unionist. Then they came for me, and there was no one left to speak out for me. by the Rev. Martin Niemöller

What's next?