Orlando,Maitland,Winter Park-Central Florida Real Estate; REALTOR; CDPE/Certified Distressed Proprerty Expert for Short Sales

Short Sale & Pre-Foreclosure Solutions: Do You Need Help?

Lisa Spalding, REALTOR, CDPE (Watson Realty Corp., REALTOR, CDPE) — Tue, 27 Oct 2009 15:28:02 -0500

If you or a friend are facing Foreclosure, what do you do?

Do you know the difference between a FORECLOSURE and a SHORT SALE?

For a Free Report, Click link below:

http://hosted.cdpe.com/21063

Good Information for Buyers & Sellers Located at:

http://www.winterparkhomefinder.com/

Search for Homes Myself on My Computer in the Privacy of My Home at: http://lisaspalding.mfr.mlxchange.com/

Best wishes in your Home Sale or Home Search!

--Lisa Spalding

Watson Realty Corp.

Spacious Maitland Property for Sale; 1023 Grove St.

Lisa Spalding, REALTOR, CDPE (Watson Realty Corp., REALTOR, CDPE) — Thu, 10 Sep 2009 13:17:24 -0500

A Maitland Home for Sale! NOT A Short Sale Nor Foreclosure Property.

Property Location: 1023 Grove St., Maitland, FL 32751 MLS #: o4933550

Buy This Home for $115,500

3 BR, 2.5 Bath, 1-Car Garage Home with 1,486 Square Feet under Heat/Air.

Super-Spacious 3BR, 2.5 Bath END-UNIT Townhome-Style Condo in Maitland. Brand-Spanking-New A/C (Both Air Handler & Motor)-9/1/09. Breakfast Bar. All Appliances Convey, Even Washer/Dryer. Screened-In Balcony Off Master Bedroom. Private, Tiled COURTYARD Which is Adjacent to Garage. Patio Downstairs Near Front Entryway. New Whirlpool Refrigerator Installed on 8/29/09. Convenient Location within Minutes to Winter Park Village & I-4. Lake Access to Park Lake & Community Swimming Pool. This is NOT a Short Sale, Nor a Foreclosure/REO Property. You Can Buy It Quickly & Move Right In!

The GREAT things about this home are that it's well-maintained and all appliances convey. All you have to do is Move Right In. Newer Shingle Roof. Move-In Ready.

This Home is NOT a Short Sale NOR a Bank-Owned Home.

Ask Me About:

* The $8,000 First-Time Buyer TAX CREDIT! (Limited Time Only Via Our Government). Also, a new proposal has been passed to possibly allow the Tax Credit to be applied for Your Down Payment at Closing beginning July 1, 2009. The details of this short-term loan are still being worked out. You may only qualify for the Tax Credit if you buy a home by November 30, 2009. Please contact your CPA or Tax Advisor for further details about the Tax Credit.

* Information on Low Down Payment Loans for Homes.

* If this home is not for you, please take a look at one of the websites below. As a REALTOR(r) in the Central Florida area, I am able to show and sell any listing from any company. Plus, YOU pay me no commission; the SELLER typically pays my commission and you get to work with me, an experienced & ethical agent.

Good Information for Buyers & Sellers Located at:

http://www.winterparkhomefinder.com/

Search for Homes Myself on My Computer in the Privacy of My Home at:

http://lisaspalding.mfr.mlxchange.com/

Best wishes in your home search!

--Lisa Spalding

"How To" Buy a Home Report--FREE for Buyers

FREE REPORT!

How To Buy A Lovely Home In Central Florida With Zero Down or LOW Down Payment

Click here:

http://www.orlandoareapropertysource.com/

Say "Hi" to Your Newest Casselberry, FL Neighbors--40 Carriage Hill Cir.

Lisa Spalding, REALTOR, CDPE (Watson Realty Corp., REALTOR, CDPE) — Wed, 22 Jul 2009 12:39:10 -0500

Say "Hi" to Your Newest Neighbors if You Live In, Rent, Or Own a Place in Casselberry, FL

Just SOLD- Casselberry, Florida

We are proud to announce that Lisa Spalding with Watson Realty Corp. has just SOLD the 3 bedroom, 2-bath, 2-car garage, concrete block home at 40 Carriage Hill Cir. in Casselberry. The home sold for $183,500.

The home got multiple offers during the FIRST WEEK on the market, went under contract in 10 DAYS, and SOLD yesterday to a very nice couple. The Sellers are "extremely impressed" that the house went under contract & sold so quickly, although it was a little bit quick for them & they have had to make temporary arrangements until they find the right house for them. :) I have to say, though, that the house was in excellent condition, was staged nicely, and was move-in-ready, so it made my job very easy.

The home has a Newer Architectural shingle Roof. The Kitchen has been Completely Upgraded w/Maple Cabinetry. The Main Bathroom is Completely Upgraded & is Very Trendy- Granite Countertop and Furniture-Look Vanity & Low-Flow Toilet. The house has Newer Energy-Efficient Windows Throughout. Oak Wood Floors. Fully Privacy-Fenced Backyard with Plenty of Comfortable Living Space Inside & Outside. Great Seminole County Schools! Newer Gas Hot Water Heater. Monitored Security System. Comfortable Florida Room with Ceramic Tile. Move-In Ready.

If you live in CASSELBERRY, say "Hi" to your newest neighbors. The deals are selling all over Seminole County and in Central Florida, in general.

Home Sale Success-First-Time Buyers are Getting EXCELLENT Homes.

If you're curious what your Casselberry home may be worth, here's an easy way to find out what homes like yours are selling for in today's market.

Plus: Get a free report with up-to-the-minute statistics based on all the homes for sale and sold in Casselberry over the last six months in all price ranges.

To receive this month's free report on Casselberry house prices, just go to www.24HrHousePrices.com/Casselberry

FREE Report Provided by:

Lisa Spalding, REALTOR®, CDPE

Watson Realty Corp., 407-267-0304

www.WinterParkHomeFinder.com

Or, if you're interested in BUYING a Central Florida home and you're a FIRST-TIME BUYER, click:

www.OrlandoAreaPropertySource.com

Find out if you qualify for a Government-Sponsored Down Payment Assistance Program.

If you Buy a Home that is in an FHA or VA-approved community, there is the possibility of Buying for Very LOW or No-DOWN PAYMENT. Also, there is the possibility of FREE MONEY from the City of Orlando (please see their website link: www.CityofOrlando.net ) or from Orange County. Up to $25,000 of FREE MONEY available. ** Of course, there are income guidelines and major hoops that you have to jump through to qualify--but go ahead and find out if you can possibly qualify or not.

As a REALTOR(r) in the Central Florida area, I am able to SHOW and SELL ANY LISTING FROM ANY COMPANY. Plus, YOU pay me NO commission; the SELLER typically pays my commission and you get superlative representation.

Good Information for Buyers & Sellers Located at:

http://www.winterparkhomefinder.com/

Search for Homes Myself on My Computer in the Privacy of My Home at:

http://lisaspalding.mfr.mlxchange.com/

Best wishes in your home search!

--Lisa Spalding

Watson Realty Corp., REALTOR(r)s, CDPE

"How To" Buy a Home Report--FREE for Buyers

FREE REPORT!

How To Buy A Lovely Home
In Orlando With Zero Down or Low Down Payment

Click here:

http://www.orlandoareapropertysource.com/

Help for Sellers Owing More than House is Worth: CDPE for Short Sales

Lisa Spalding, REALTOR, CDPE (Watson Realty Corp., REALTOR, CDPE) — Mon, 06 Jul 2009 11:38:12 -0500

You may have been wondering why I haven't made a blog post in a while. Well, I enjoyed a long, holiday weekend AND have been bucking up on learning about real estate and Short Sales in Central Florida, in general.

In looking back at Short Sales/Pre-Foreclosures and my business, I discovered that I was doing Short Sales BEFORE they were cool. :) What I mean is this: I began helping Homeowners in Distress in 2005, when I first helped a couple sell their single family home that was basically demolished by a tree through the roof which affected EVERYTHING in the house and allowed moisture intrusion. I was introduced to this couple via an investor that was trying to buy the place but didn't think there was enough return on his investment. Well, this couple had a definite hardship b/c the house was unlivable. My broker at the time encouraged me to help this couple but cautioned that it would be a difficult transaction and would probably wind up not going anywhere. And--he was right--it WAS a pain in the neck! It was probably the most difficult transaction I had ever had and I really had no clue what I was doing. I just knew I needed to help this couple get out of a terrible situation and called the attorney that was associated with the pre-foreclosure process and also found out that there was another lien on the property from the county. Well, the transaction finally closed after a roller-coaster ride for the Sellers but they were finally put back on the road to recovery from their headache of a house.

So, about 2 years ago, I was approached by a REALTOR to help him sell HIS property as a Short Sale. Actually, his property listing had Expired (not sold while listed) with another agent that also had no clue about the Short Sale process and how to sell a property for LESS than what is owed to the bank. I listed the condo, got a cash contract for the house that was $30K OVER what the bank wanted, everything was good and almost made it through the entire process BUT the bank sent a nice letter saying the SELLER did not qualify for a Short Sale. I couldn't believe it. I had worked very hard to do the right thing and help the Seller with selling a condo, of all things, then BAM!--the Bank says "No." And, yes, there was a hardship for this Seller but the bank could have cared less.

Flash forward to January of this year. I had been hearing about a LOT of Short Sale Seminars, designations, etc. and, after having completed a few recent Short Sales, wanted to see if I could further my education about them but all the seminars I went to were pithy at best and I already knew everything that they were saying--but I wanted something more. So, I looked into the Certified Distressed Property Expert designation. While it is not yet recognized by our National Association of REALTORs at the moment, I have a feeling that it soon will be. (But, that's just my opinion.) I think that having a designation that has Expert in it is a little presumptuous of the powers that be b/c I don't think that anyone can ever figure out EVERY bank or investor but they don't need my okay to name the designation what they did. :)

As of todayI'm happy to say that I've completed all the coursework involved and am now a fully-fledged CDPE (Certified Distressed Property Expert)!

If You're Curious What Your Orange County or Seminole County Home is Worth, Click Below:

www.24HrHousePrices.com/OrlandoArea

As a REALTOR(r) in the Central Florida area, I am able to SHOW and SELL ANY LISTING FROM ANY COMPANY. Plus, YOU pay me no commission; the SELLER typically pays my commission and you get superlative representation.

Good Information for Buyers & Sellers Located at:

http://www.winterparkhomefinder.com/

Search for Homes Myself on My Computer in the Privacy of My Home at:

http://lisaspalding.mfr.mlxchange.com/

Best wishes in your home search!

--Lisa Spalding, REALTOR, Certified Distressed Property Expert (CDPE)

Watson Realty Corp., REALTORs

"How To" Buy a Home Report--FREE for Buyers

FREE REPORT!

How To Buy A Lovely Home
In Orlando With Zero Down or Low Down Payment

Click here:

http://www.orlandoareapropertysource.com/

Down Payment Assistance Changes: Did You Wait TOO Long to Buy a House?

Lisa Spalding, REALTOR, CDPE (Watson Realty Corp., REALTOR, CDPE) — Wed, 24 Jun 2009 07:34:36 -0500

If you are a First-Time Buyer in Orange County, Florida, and were planning to get a large chunk of money from the County, that "large chunk" just dwindled appreciably yesterday. What this means to you First-Time Buyers is that you will continue to be able to access funds from Orange County Down Payment Assistance/State Housing Initiative Partnership (SHIP) if you qualify--but there will be less funds available per Buyer/Family.

Well, here it is: The Powers-That-Be have made and enacted the dreaded changes to Orange County's Down Payment Assistance Program for First-Time HomeBuyers...And It Just Happened Yesterday.

I just received an email letter regarding the new program changes. The changes to the Program have come about because our State Legislature used about $6 million that was to go toward funding the Program to balance the State budget. There ARE current funds available (I know this because we have been successfully getting funds from Orange County DPA this year to help families buy their first home!) but, in an effort to stretch those funds, the County has decided to reduce the funds available to Buyers. Those changes are outlined below.

Orange County Down Payment Assistance/State Housing Initiative Partnership (SHIP) New Rules

June 23, 2009

Notice of Program Change

To Whom It May Concern:

"State budget action requires that we make changes to the current funding levels that will allow us to continue assisting households with DPA through 2010. DPA program changes to be implemented are:

Very Low Income $25,000

Low Income $17,500

Moderate Income $5,000

These changes were reviewed and approved by Orange County's Affordable Housing Advisory Board and the Board of County Commissioners approved these changes to the Down Payment Assistance Program on June 23, 2009. These changes are effective immediately."

This is only an excerpt from the email letter I received & if you would like a copy of the actual email, just email me with your request and I'll forward a copy.

If you're interested in BUYING a Central Florida home and you're a FIRST-TIME BUYER, click:

www.OrlandoAreaPropertySource.com

Find out if you qualify for a Government-Sponsored Down Payment Assistance Program.

If you Buy a Home that is in an FHA or VA-approved community, there is the possibility of Buying for NO- or LOW-DOWN PAYMENT. Also, there is the possibility of FREE MONEY from the City of Orlando (please see their website link: www.CityofOrlando.net ) or from Orange County/SHIP. Up to $25,000 of FREE MONEY available. ** Of course, there are income guidelines and major hoops that you have to jump through to qualify--but go ahead and find out if you can possibly qualify or not.

Good Information for Buyers & Sellers Located at:

http://www.winterparkhomefinder.com/

Search for Homes Myself on My Computer in the Privacy of My Home at:

http://lisaspalding.mfr.mlxchange.com/

Best wishes in your home search!

--Lisa Spalding

Watson Realty Corp., REALTORs

"How To" Buy a Home Report--FREE for Buyers

FREE REPORT!

How To Buy A Lovely Home
In Orlando With Zero Down or Low Down Payment

Click here:

http://www.orlandoareapropertysource.com/

Say "Hi!" to Your Newest Orlando Neighbors--32817--Just Purchased/Sold

Lisa Spalding, REALTOR, CDPE (Watson Realty Corp., REALTOR, CDPE) — Mon, 15 Jun 2009 15:39:16 -0500

Say "Hi" to Your Newest Neighbors if You Live In Or Own a Place in ORLANDO, FL

Just SOLD- ORLANDO, Florida

We are proud to announce that Lisa Spalding with Watson Realty Corp. has just SOLD the 3 bedroom, 1.5- bath, 1-car garage, concrete block home at 8303 Esperanza St. The home sold for $90,000. The home is 1003 square feet and had a completely remodeled kitchen. If you live in ORLANDO, say "Hi" to your newest neighbors. The deals are selling all over ORLANDO and in Central Florida in general.

Home Sale Success-First-Time Buyers are Getting EXCELLENT Deals, Especially if they Get Down Payment Assistance.

If you're curious what your ORLANDO home may be worth, here's an easy way to find out what homes like yours are selling for in today's market.

Plus: Get a free report with up-to-the-minute statistics based on all the condos for sale and sold in Orlando over the last six months in all price ranges.

To receive this month's free report on ORLANDO house prices, just go to www.24HrHousePrices.com/OrlandoArea

FREE Report Provided by:

Lisa Spalding, REALTOR ®

Watson Realty Corp., 407-267-0304

www.WinterParkHomeFinder.com

Or, if you're interested in BUYING a Central Florida home and you're a FIRST-TIME BUYER, click:

www.OrlandoAreaPropertySource.com

Find out if you qualify for a Government-Sponsored Down Payment Assistance Program.

If you Buy a Home that is in an FHA or VA-approved community, there is the possibility of Buying for NO- or LOW-DOWN PAYMENT. Also, there is the possibility of FREE MONEY from the City of Orlando (please see their website link: www.CityofOrlando.net ) or from Orange County. Up to $25,000 of FREE MONEY available. ** Of course, there are income guidelines and major hoops that you have to jump through to qualify--but go ahead and find out if you can possibly qualify or not.

Good Information for Buyers & Sellers Located at:

http://www.winterparkhomefinder.com/

Search for Homes Myself on My Computer in the Privacy of My Home at:

http://lisaspalding.mfr.mlxchange.com/

Best wishes in your home search!

--Lisa Spalding

Watson Realty Corp., REALTORs

"How To" Buy a Home Report--FREE for Buyers

FREE REPORT!

How To Buy A Lovely Home
In Orlando With Zero Down or Low Down Payment

Click here:

http://www.orlandoareapropertysource.com/

Open House: 913 Silver Oak Ct. in Orlando; Affordable Orlando Home for Sale

Lisa Spalding, REALTOR, CDPE (Watson Realty Corp., REALTOR, CDPE) — Sun, 31 May 2009 10:31:21 -0500

You are Invited to an Open House in ORANGE County, FL: TODAY

Open House Information:

A Single Family Home: 3/2/1-car Carport with 1/4-Acre Fenced Lot

Where: 913 Silver Oak Ct., Orlando, FL MLS # o4878849
Time: Sunday, May 31st from 4:00 p.m. until 6:00 p.m.

Buy This Home for $135,000 with SURPRISINGLY LOW DOWN PAYMENT

3 BR, 2 Bath Single Family Home; 1-Car Carport; 1,225 Square Feet under Heat/Air

This home is "move-in ready" and boasts some new paint and updated kitchen. LOW Down Payment Options for this Home. Spacious 3BR, 2 Bath Home on 1/4-acre Fenced Lot. Located on a Cul-de-Sac, This Move-in-Ready Home Features a Remodeled Kitchen & Convenient Snackbar. Newer Windows. Walk-in Closet in Master Bedroom. 1-Year AHS Home Warranty for Buyer (A $440 Value!). Utility room has been pre-wired for generator.

Information Available at the Open House:

*Information about this Home and Other "For Sale" Properties in the Community

* Information on How to Buy a Home in Central Florida

* Ask about the $8,000 First-Time Buyer TAX CREDIT!

* Information on Low Down Payment Loans for Homes/Orange County

* And more!

If this home is not for you, please take a look at one of the websites below. As a REALTOR(r) in the Central Florida area, I am able to show and sell any listing from any company. Plus, YOU pay me no commission; the SELLER typically pays my commission and you get superlative representation.

Good Information for Buyers & Sellers Located at:

http://www.winterparkhomefinder.com/

Search for Homes Myself on My Computer in the Privacy of My Home at:

http://lisaspalding.mfr.mlxchange.com/

Best wishes in your home search!

--Lisa Spalding

Watson Realty Corp., REALTORs

"How To" Buy a Home Report--FREE for Buyers

FREE REPORT!

How To Buy A Lovely Home In the Orlando Area With Zero Down or Low Down Payment

Click here:

http://www.orlandoareapropertysource.com/

Open House Today: 257 Shady Hollow Lane in Casselberry

Lisa Spalding, REALTOR, CDPE (Watson Realty Corp., REALTOR, CDPE) — Sun, 31 May 2009 10:22:53 -0500

You are Invited to an Open House in Seminole County, FL: TODAY

Open House Information:

A Single Family Home: 3/2/2-car garage

Where: 257 Shady Hollow Ln., Casselberry, FL MLS # o4794542
Time: Sunday, May 31st from 12:30 p.m. until 2:30 p.m.

Buy This Home for $188,900 with SURPRISINGLY LOW DOWN PAYMENT; LA is Maureen Golmont

3 BR, 2 Bath Single Family Home; 2-Car Garage; 1,498 Square Feet under Heat/Air

This home is truly "move-in ready" and boasts new paint, carpet, and other updates. Screened porch. LOW Down Payment Options for this Home.

WELL MAINTAINED 3/2 IN ESTABLISHED NEIGHBORHOOD. FORMAL LIVING & DINING WITH NEW CARPET, SPACIOUS FAMILY ROOM WITH BRICK FIREPLACE,KITCHEN FEATURES A HUGE PANTRY, NEWER APPLIANCES, SUNNY EAT-IN NOOK, LARGE CORNER LOT WITH A GREENHOUSE & FRUIT TREES.THIS HOME IS READY TO MOVE RIGHT IN**NEW CARPET IN LIVING AND DINING, NEW VINYL IN KITCHEN, FRESHLY PAINTED INSIDE AND OUT, OVERSIZED GARAGE, FENCED YARD, 15 X 15 SCREENED PATIO, NEWER ARCHITECTURAL SHINGLE ROOF.

Information Available at the Open House:

*Information about this Home and Other "For Sale" Properties in the Community

* Information on How to Buy a Home in Central Florida

* Ask about the $8,000 First-Time Buyer TAX CREDIT!

* Information on Low Down Payment Loans for Homes/Seminole County

* And more!

Good Information for Buyers & Sellers Located at:

http://www.winterparkhomefinder.com/

Search for Homes Myself on My Computer in the Privacy of My Home at:

http://lisaspalding.mfr.mlxchange.com/

Best wishes in your home search!

--Lisa Spalding

Watson Realty Corp., REALTORs

"How To" Buy a Home Report--FREE for Buyers

FREE REPORT!

How To Buy A Lovely Home In the Orlando Area With Zero Down or Low Down Payment

Click here:

http://www.orlandoareapropertysource.com/

SHOW ME THE MONEY!!! -- Rewards Program for Buyers--A.H.A.A.

Lisa Spalding, REALTOR, CDPE (Watson Realty Corp., REALTOR, CDPE) — Wed, 20 May 2009 14:59:51 -0500

Wouldn't it be nice if, as a First-Time Buyer, you could BUY a house, then get reimbursed some MONEY right into your SAVINGS ACCOUNT just for having bought a home?! And get discounts at home improvement stores... And get FREE education about buying a home... And get mortgage payment protection... Ahhhhh... Wouldn't THAT be nice?

Well, LOOKY what we learned about from our Broker at our office meeting this week:

The Association for Homesowners Across America (A.H.A.A.) (they're partnering with AmeriDream to offer Buyers some nifty programs) is in the process of doing just that! Giving out CASH rewards to First-Time HomeBuyers (up to 3%) of the total purchase price. A gift card to LOWES. There is a mortgage payment protection plan that they are hoping to include. Of course, there is education about homeownership AND counseling for those that are in troubled situations with their mortgages. And, the fees are anywhere from $215 to $495. Sound too good to be true? ** And, No, I don't work for AHAA but it wouldn't hurt if you could double-check all this information for yourself with them or with your REALTOR(r). (There, now I'm done with the waiver!)

Check them out:

https://www.ahaanow.org/Rewards/

Okay--so AmeriDream and Nehemiah are still out in terms of helping people buy homes due to Seller-Funded Down Payment Assistance programs like those and others being outlawed since October 1st of 2008. But, looks like in addition to the Tax Credit of $8,000 for First-Time homebuyers, there are other programs afoot that will help Buyers in other ways.

Good Information for Buyers & Sellers Located at:

http://www.winterparkhomefinder.com/

Search for Homes Myself on My Computer in the Privacy of My Home at:

http://lisaspalding.mfr.mlxchange.com/

Best wishes in your home search!

--Lisa Spalding

"How To" Buy a Home Report--FREE for Buyers

FREE REPORT!

How To Buy A Lovely Home In Central Florida With Zero Down or LOW Down Payment

Click here:

http://www.orlandoareapropertysource.com/

Lovely Casselberry Home For Sale on Corner Lot

Lisa Spalding, REALTOR, CDPE (Watson Realty Corp., REALTOR, CDPE) — Thu, 14 May 2009 09:52:55 -0500

A Casselberry Home for LOW Down Payment!

Property Location: 40 Carriage Hill Cir., Casselberry, FL 32707 o4913154

Buy This Home for $187,500

4 BR, 2 Bath, 2-Car Garage Home with 2,027 Square Feet under Heat/Air plus A Huge Florida Room/All-Season Porch

The GREAT things about this home are that it's well-maintained and all appliances convey. All you have to do is Move Right In. Updated 4BR, 2 Bath Home w/2-Car Garage. Split-Bedroom Floorplan. Newer Architectural shingle Roof. Kitchen Completely Upgraded w/Maple Cabinetry. Main Bathroom Completely Upgraded - Granite Countertop and Furniture-Look Vanity & Low-Flow Toilet. Newer Energy-Efficient Windows Throughout. Oak Wood Floors. Fully Privacy-Fenced Backyard with Plenty of Comfortable Living Space Inside & Outside. Great Seminole County Schools! Newer Gas Hot Water Heater. Monitored Security System. Comfortable Florida Room with Ceramic Tile. Move-In Ready.

This Home is NOT a Short Sale NOR a Bank-Owned Home.

Ask Me About:

* Information on Low Down Payment Loans for Homes.

Good Information for Buyers & Sellers Located at:

http://www.winterparkhomefinder.com/

Search for Homes Myself on My Computer in the Privacy of My Home at:

http://lisaspalding.mfr.mlxchange.com/

Best wishes in your home search!

--Lisa Spalding

"How To" Buy a Home Report--FREE for Buyers

FREE REPORT!

How To Buy A Lovely Home In Central Florida With Zero Down or LOW Down Payment

Click here:

http://www.orlandoareapropertysource.com/

Making Offers; Be Careful When Buying--Choose "A" Players; Orlando Area Homes

Lisa Spalding, REALTOR, CDPE (Watson Realty Corp., REALTOR, CDPE) — Tue, 12 May 2009 11:56:17 -0500

Okay. This will NOT be a rant but, if you don't read the whole thing, you might just think it is! Many times, I work with Sellers and that's great but, as an agent, it's a good idea to work with a few Buyers so you don't get rusty at it--& I DO work with Select Buyers.

What I'd like to discuss today is Making a Good Offer With--or As--a Buyer. Be Careful When Buying and Choose "A" Players for Your Real Estate Agent and Your Mortgage Lender

So, I'm working with a good handful of Buyers at the moment, which means that either me or my business partner, Jim, will work with Buyers to show and write offers on homes. And, that's the EASY part--finding a property. It's the fun part, too. And, for the most part-- it's EASY to get a property under contract, too, and the real work begins after that.--But Today, I'm writing about Making a Good Offer and What A Buyer Can Do to Increase Their Chances of the Seller Accepting Their Offer, or at least, for the Seller to make Minimal Changes to The Offer and that Begins with Choosing the Right Real Estate Agent and Mortgage Lender.

So, I have worked with Buyers that contacted me previously & agreed to work with me to help with Buying a House after we met for the initial consultation. Then, I don't hear from them until later. What this typically means is that they either took a break from looking, got busy doing other things, or wound up working with another agent. No problem--I just get confirmation from them again that they will work with me and only me (and maybe Jim) to buy a home. None of the preceeding is out of the ordinary for many Buyers--they're sometimes scared of commitment to any one Agent. But, I won't work with them again until they say they'll be loyal to me. When that happens, we look at homes again. :)

Okay--here's the Kicker: When we find a place that a Buyer likes and wants to make an offer on that's Great, right? Wrong. Typically, those Buyers will have a Pre-Approval letter and have met with a mortgage lender and have made an application for a loan and we are just finding them the right house. But, with some Buyers, I have to encourage, counsel, and do everything I can think of to ensure that the Buyer has gotten financing lined up. Some do and some don't. Some Buyers have great credit and get pre-qualified with a mortgage person over the Internet or make a phone call to a lender and get a Pre-Qualification for a mortgage based on a phone consultation. To some Buyers, that means they're Pre-Approved. To the rest of the world--it means NOTHING. So, I educate Buyers that they really need to meet with a local lender in Person and make APPLICATION for a loan, especially because mortgage criteria keeps changing. Like a great Buyer, they will comply. They will call the lender and get a phone pre-qualification--again. Most (good) lenders will NOT generate an approval letter merely based on a phone pre-qualification--they need a Buyer's financials (bank statements, tax returns, etc.). SOME mortgage people WILL send a pre-approval (really, a pre-qualification) letter from a phone pre-qual; some will not. To my way of thinking, if a Buyer isn't serious enough to APPLY for a mortgage to buy a house (unless they're a CASH Buyer, he he), I'm not serious enough to drive them around and show them any homes and I would really prefer to focus on the other Buyers I'm working with who ARE serious enough to do so.

Think about it in terms of "A" Players, "B" Players, and "C" Players in an Organization. An "A" Player is anyone that is professional and has a certain way of doing things so that their business/profession is systematized. They do what they say, they counsel their customers/clients, and they GET RESULTS by playing fair, playing ethically, and always doing the right thing. So, for real estate Agents and for Mortgage people, the "A Players" are those that will do everything in a certain way to get a certain result--the Buyer/Borrower under contract and eventually Owning a Home. All other Players in Real Estate (B and C Players) just "wing it" and tell the Buyer/Borrower "yes" to everything or just hope that things go well and the Buyer/Borrower can somehow get into a property. Sometimes things go well and there are no issues, but more than likely, a number of situations arise in which what you were told initially will change, especially to the detriment of the Buyer.

So, if a Buyer says they have made offers in the past with other agents w/ just the pre-qualification letter, then I believe them. They probably HAVE made a few offers with a non-A Player. That's right--you CAN make an offer with just a pre-qualification--it happens all the time. But SHOULD an offer be made with just a pre-qualification? Sometimes, it's fine--sometimes, it's not. And, in this market, WHY would a Seller take their home off the market for a "maybe" Buyer?

If the Buyer and I are NOT on the same page with what they need to do to get pre-Approved, then we have a problem. This year I recommend Buyers at least make application w/ a lender prior to making an offer, especially if it's a bank-owned home or a short sale. The lender doesn't want to put all their eggs in one basket, especially if the basket might only hold rotten eggs. Plus, we can get an automated approval to see if we're all on the same page and the Buyer haa a chance of getting a loan. That way, we can include not just the Pre-Approval letter from the lender, but also the Desktop Underwriting findings with the offer. Doing this shows a very SERIOUS and QUALIFIED Buyer to the Seller and Listing Agent.

If the Buyer questions this fact and says they have read that they could make an offer with just the letter and not meeting in person with anyone, then that Buyer may just need more education about the buying process or they may be mistrustful of the process or agent/lender or they may not be serious about buying. (Most of the time, though, is the underlying issue of: WHY would I personally be so difficult and can't we just look at homes and write an offer and worry about the financing stuff later?)

That's true-there are agents out there that WOULD let a Buyer make an offer w/ just a letter (NON-A Players or Agents in a different price range or market area) and that Buyer would get very poor results with that way of trying to do business this year. I personally have even worked with Buyers that made offers on properties with just their pre-qualification letter (and a good down payment and excellent credit) but the Times Have Changed. If a Buyer is uncomfortable making application with a lender (I know it's scary--I was a first-time Buyer once, too!) I would still say that getting financing straightened out from the beginning is still the best route to really get what Buyers want--a House. If a Buyer wants assurances from me that everything will go okay with an offer on the house when they aren't willing to take the necessary steps themselves to do everything necessary to take a step in the right direction, then, again--we have a problem because I will NOT make those assurances. An offer with only a pre-qualification letter and without the back-up of a pre-approval letter is not a very strong offer at all.

If a Buyer speaks with a lender and is not happy with what they say over the phone (or in person) in regard to mortgage payment, etc. for the price range that they want, then it's SIMPLE.--The Buyer just has to come down on the price range in which they're looking OR if they really want a certain price range, then they have to be okay with paying more. I remind Buyers that they don't have to speak with just one lender but are free to speak with any lender regarding a mortgage and to please be careful of Non-A Players. Many times, the offerings of lenders/mortgage loan officers will be very similar but, just like in other business ventures, estimates will vary and, while some people will do a great job--not all will. But, in general, if the house a Buyer wants is in price range "X," then the mortgage will be "Y," depending on taxes. And, again-- the mortgage will be what the mortgage will be in that particular price range.

Making an Offer on a Property in Today's New World is very Simple--Simple but Not Easy.

Get Pre-Approved for a Mortgage. Take the time to sit down with an educated and experienced Lender that will help you to understand the Application, the Loan Terms, etc. Keep it Simple; Discuss with the Lender your comfortable/target Mortgage Payment and determine what price range in which you should be looking.

Work with an Experienced Agent. Take the time to get to know your real estate agent and see if you both are a good fit for each other. From an Agent's Point of View--We interview with you just as much as You interview us. You are either working with us and help us to help you--Or you're working against us and need to find someone else to work with. If you would like to work with me, then please know that I will ask you to do specific things, whether you want to or not--because That's what it takes to buy or sell a home. If you don't want to jump through the necessary hoops, then fine--but I may choose to not work with you; just as you may choose to not work with me. :)

Make a Good Offer with Reasonable Terms. Work with your Agent to come up with a reasonable offer that will be THE winning offer. Hey, in this market, there are many deals to be had. Keep in mind that, for every term of your contract that is unappealing to the Seller, you may have to make some concessions yourself. For example, if you want $5,000 off of the list price, then you may have to concede to paying your own closing costs for the transaction. On the other hand, if you're asking the Seller to pay all of your closing costs, then consider offering fairly close to or even over the list price, depending on what other homes in the area are selling for.

Be Patient. Just like it didn't take you an evening to make the decision to Buy a House, it will take a while for the entire process of getting a house--and it IS a process. Remember, Rome wasn't built in a day. You may need to make several offers on several different houses before you come to a "meeting of the minds" with the Seller(s).

It's Simple to Buy a Home-Simple, But Not Easy! :)

Best of Luck in Your Home Search!

--Lisa Spalding

Watson Realty Corp.

www.WinterParkHomeFinder.com

"How To" Buy a Home Report--FREE for Buyers

FREE REPORT!

How To Buy A Lovely Home In the Orlando Area With Zero Down or Low Down Payment *Some Restrictions Apply.

Click here:

http://www.orlandoareapropertysource.com/

* This is Not Going to be a Members-Only post but rather is a Public Post b/c I have not named anyone; not Buyer, Seller, nor Lender.

What about Florida?? Housing Stimulus Tax Credit Available at Closing? Not yet...

Lisa Spalding, REALTOR, CDPE (Watson Realty Corp., REALTOR, CDPE) — Mon, 04 May 2009 13:54:19 -0500

Is Florida going to do something similar here in the next little while so that First-Time Home-Buying Floridians can also get access to the $8,000 Tax Credit as a means to pay for the down payment? I sure hope so.

--Lisa Spalding, Watson Realty Corp.

www.WinterParkHomeFinder.com

www.OrlandoAreaPropertySource.com

Via Marty Woomer (Windermere Real Estate/WSI):

There was an interesting article in Saturday's Seattle Times which talks about using the Stimulus money for closing costs and down payment assistance. It details which states are eligible, and outlines the process. Obviously, consult your CPA, but it appears that it is essentially a bridge loan till you get your 2009 tax year return. Click below for the article:

http://seattletimes.nwsource.com/html/realestate/2009159694_harney03.html

I agree with this as long as the bridge loan is interest free, or only incurs interest if you don't pay it back with your tax return money.

What do you think?

Sincerely,

Marty

**Link is to Seattle Times article

After Dinner Treats When It's Cold--Just say NO to Smoothies-YES to Cocoa

Lisa Spalding, REALTOR, CDPE (Watson Realty Corp., REALTOR, CDPE) — Tue, 07 Apr 2009 18:07:09 -0500

Just when I got home from the office today, I was confronted by 2 happy children and 1 (mostly?) happy hubby. They let me walk in the door and put my stuff down, then started asking me how my day was. Fairly typical. Then, I was asked an interesting question, "Hey. Do you want to make Smoothies after dinner?" Usually, if I'm asked that, I'll almost always say, "YES." I like Smoothies on a hot day, which is typically what we get here in FL.

This time, I had to think about it, though. Today, when I drove to the office, it was 51 degrees. That's COLD to me. Right now, it's in the 60s. Still COLD to me. I had my jacket on ALL DAY today because it's windy and cold.

So, I suggested we do a fun something, which was to make HOT COCOA. Everyone else thought that that was a good idea. And, now I sit here, sipping hot cocoa and reviewing Internet stuff. ...Fat & Happy. :)

What Can We Learn from Baseball?

Lisa Spalding, REALTOR, CDPE (Watson Realty Corp., REALTOR, CDPE) — Tue, 07 Apr 2009 09:38:20 -0500

Now, I'm not a big follower of baseball, but I came across this short story from By Referral Only. Cute!

What Can We Learn from Baseball?

Here's a great story about baseball - and perspective:

A little boy was overheard talking to himself as he strutted through the backyard, wearing his baseball cap and toting a ball and bat. "I'm the greatest hitter in the world," he announced. Then he tossed the ball into the air, swung at it, and missed.

"Strike one!" he yelled. Undaunted, he picked up the ball and said again, "I'm the greatest hitter in the world!" He tossed the ball into the air. When it came down he swung again and missed. "Strike two!" he cried.

The boy then paused a moment to examine his bat and ball carefully. He spit on his hands and rubbed them together. He straightened his cap and said once more, "I'm the greatest hitter in the world!" Again he tossed the ball up in the air and swung at it. He missed. "Strike Three!"

"Wow!" he exclaimed. "I'm the greatest pitcher in the world!"

Either way - he's right. Isn't perspective a wonderful thing?

Best wishes in your home search!

--Lisa Spalding

"How To" Buy a Home Report--FREE for Buyers

FREE REPORT!

How To Buy A Lovely Home
In Orlando With Zero Down or Low Down Payment

Click here:

http://www.orlandoareapropertysource.com/

A Few Things I've Learned about Real Estate from Cop Shows & Trainers

Lisa Spalding, REALTOR, CDPE (Watson Realty Corp., REALTOR, CDPE) — Sat, 28 Mar 2009 07:52:42 -0500

I've missed everyone here on AR for the past few weeks. I haven't written anything recently, due mostly to being uninspired and it pains me to think about re-blogging someone else's hard work or re-posting my own. So, I'd like to talk a little bit about what I've gained from watching Law & Order: Special Victims Unit and from a real estate trainer I've had the privilege of learning from recently. So, here goes!

I have insomnia sometimes, I think, because some nights my mind is just whirring with how to solve the real estate problems that seem to always arrrive when transacting business with people. So, if I'm not on AR or FB or taking an on-line real estate course, I watch t.v. The only decent thing to watch in the wee hours of the morning is Law and Order: Special Victims Unit. Plus, it's typically a pleasure to watch a woman (M. Hargitay) kick butt on t.v.

1. Anyway, whenever there is a crime committed, it seems that there are a few rules that the detectives follow when ferreting-out the truth. One rule they have on the show is to "always follow the money." Usually, the crime was committed by someone who will benefit from it financially (or otherwise).

What I got from this "cop" Rule are two things. One is that People generally act in their own best interest. How this relates to real estate is exactly that--People act in their own best interest, or however they think will benefit them most at any given time. They use the information they're given (whether it's correct or incorrect info) and then they act. So, the next time you hear something on the news, radio, or something someone said regarding real estate, PLEASE check it out before acting on that information. I cannot tell you how many times that I have heard from a customer, "Well, X from work said that I can/should/will be able to..." [do whatever] when I was positive that that person was not an expert in real estate & the information was not only false but the customer had already acted on the faulty information and I could not help them. Be careful where you get your information. Get your real estate information from reliable experts.

The other thing I got from the "follow the money" idea is whether we like the current real estate market or not, someone is always making money. If you are unhappy with your current financial situation, then take a look at others who ARE making money in this market and do what they are doing (which seems to be buying/selling bank-owned properties and dealing with short sales.

2. Another Rule on the show is "evidence is necessary." On Law and Order: SVU, f there is no evidence, then a crime generally cannot be proven to have been committed. This idea of evidence is necessary is true in real estate, too. Gone are the days of business being conducted on a handshake and someone's given word. Sad, but true. If you have a transaction and it's not written down, it's not a real deal. Or, if you have a deal and miss an initial or a signature, that could pose a problem. Worse; neglect to have a written addendum of something that was discussed, that discussion never really happened. Written documentation is necessary; get everything in writing.

3. Okay-last thing for now. I am almost done working with a real estate trainer, Steve Woodruff. He presents very well and is usually soft-spoken and teaches a "soft-selling" method of selling real estate. One thing I have gotten from his classes so far is that "You don't get what you deserve; you get what you negotiate." That is certainly true in real estate, as well in other areas of life. We are constantly negotiating, all the time, whether we realize it or not. I have a LOT of examples of this Rule but I'm sure you can come up with TONS of your own examples for this one. :)

Lenders Entering Homes Prior to Foreclosure Sale in Florida--Changing Locks, Etc.

Lisa Spalding, REALTOR, CDPE (Watson Realty Corp., REALTOR, CDPE) — Fri, 20 Feb 2009 00:49:37 -0600

The story posted below by a Broker/Attorney is not really a "story" at all because it is happening A LOT here in Central Florida. Take a quick peek and let me know what you think. Do you think it's legal or is it illegal for the bank of a property that is in a preforeclosure situation to take possession and change the locks on the not-yet-their home?

This (lenders changing locks on residences) has happened with at least two Short Sale/Pre-foreclosure properties of which I personally was the listing agent, so I know it IS happening here locally.

Lisa Spalding, Watson Realty Corp.

Via Ryan Shaughnessy, Broker/Attorney - Your Lafayette Square Real Estate Partner (PREA Signature Realty - www.preasignaturerealty.com):

Recently, there have been an increase in reports of lenders entering homes pending foreclosure, changing the locks and removing personal property.

Often, the justification provided by the lenders is that they received a report that the property was vacant and unsecured and that they were simply securing the property by changing the locks and boarding up the property to safeguard the home from property damage, vandalism and theft. In reality, it is often a ruse to secure possession of the property prior to the foreclosure sale.

Here is a copy of a recent e-mail received from an attorney in Washington State:

Hello All - I have received several phone calls from different real estate agents reporting activity that I find hard to believe. If I had heard this story from one agent, I would have discounted it as them misunderstanding the facts. But, I have now heard it from a variety of agents . . . so, of course, now I am wondering if I have missed something. Apparently lenders (xxxx is the only name I have heard) are going into some properties that are pending foreclosure and changing the locks, removing personal property, removing listing signs and keyboxes, etc. All of this is happening prior to the trustee's sale. There has been no receivership or any other court proceeding. These are non-judicial foreclosures and lender is simply taking possession of the property prior to the trustee's sale. In at least one case, a homeowner called the police who came to the home and said that it was a civil matter and did not stop the lender's rep from then taking the homeowner's personal property (or so the story goes).

I can't speak to the legality of this type of action in other states. However, in Missouri, notwithstanding language in the deed of trust stating otherwise, the lender cannot enter an occupied home pending foreclosure. Even after the property is sold at a foreclosure sale, the lender or purchaser at the foreclosure sale, cannot enter an occupied residence and must file suit for unlawful detainer to secure possession of a property sold at foreclosure.

Although I have heard of isolated reports in other states (including Missouri), I am curious to learn if other real estate professional have heard of similar occurrences of this lender practice in their state?

This legal alert provided as a public service announcement courtesy of PREA Signature Realty.

Real Estate Market Lessons from my Redfishing Trip

Lisa Spalding, REALTOR, CDPE (Watson Realty Corp., REALTOR, CDPE) — Mon, 09 Feb 2009 15:55:31 -0600

Worth the read.

Via Foreclosure Expert Andy Tolbert (HD Realty/Compass Real Estate Seminars):

This past Sunday, my husband Tim had a guided Redfishing charter all set up to go with his buddy, David, over in Mosquito Lagoon in Volusia County.

On Friday, David started hinting that he may back out. Saturday at about 8pm he backed out, with some lame excuses like:

- I talked to some other people and they said the fishing hasn’t been good

- It’s too cold

- The water’s too shallow

- We won’t catch anything

- Yada, Yada, Yada….

Tim called a few friends, but they all already had plans. We didn’t want to back out of a commitment that Tim had already made, because Captain Joe wouldn’t have been able to fill the slot on that short of notice and HE would have lost out. So I went (even though we now had to pay for the whole charter instead of just Tim’s half, and I’ve never been before so didn’t even know if I’d like it!).

WE HAD THE BEST DAY OF FISHING TIM HAS EVER SEEN OVER THERE!

We got on a school of 300 fish and they would bite at anything you threw in front of them! Captain Joe Porcelli even put a piece of grapefruit peel on his hook and caught a fish on the 2nd cast! It was crazy! We had caught our limit of Red Fish within the first hour (and I caught a big Trout too!) and then just kept having fun.

There were a few other boats around us that weren’t catching ANYTHING! One was a metal-hulled boat that anchored the wrong way and the waves kept beating against their bow making a deep bass-drum sound every time that was probably scaring the fish away!

We even came up with a new slogan for Captain Joe… “We Make Your Lies Come True!” (since everyone always lies about how big the fish was or the one that got away…with him you don’t have to lie!)

So as I sit here with my face burning (yes, you can get a sunburn in February.), I was thinking about how much this experience has been like the real estate market lately:

-David had “heard” that it was bad, so he decided not to go. Just like if you’re hanging around with negative people talking bad about the real estate market, you may decide that the market is bad.

-The other boats around us must have been doing something wrong…they were sitting right on the same 300+ school, but not hooking up! Was it the wrong bait? The wrong tools? Maybe they weren’t using the right reeling techniques. Sound like the real estate market? Agents everywhere are whining about how business is down, no buyers, can’t get anything closed, Whaaaa-Whaaaa-Whaaaa!

They’re sitting on top of a HUGE school of buyers and sellers, including REO’s, short sales, investors, and a bunch of 1st time home buyers. Maybe they’re even scaring away clients with their attitudes!

Why is it that some agents (myself included) are already having their best year ever and others are wondering when they’ll ever see a commission check again! If you’re not closing what you want to be closing then you’re either using the wrong bait, the wrong technique, you’re in the wrong spot, you’re on the wrong kind of boat, or you’ve got the wrong Guide!

David missed probably the best day of fishing he ever would have had in his life because he “heard” it was bad. Don’t let that same thing happen in your business…

Andy

p.s. Once you pull that first fish in, it’s like a rush…you want more! Just like the feeling of your first commission check you ever got… if it’s been a while since you’ve had a closing, put your bait back in the water and see what it’s like!

p.p.s. If you want to reach Captain Joe and catch some reds for yourself, you can get his info here (and see some pictures!) http://www.cyberangler.com/fishing-reports/florida/mosquito-lagoon/long-14500.htm

Orlando Home for Sale: 8303 Esperanza St.--Low Down Payment Available

Lisa Spalding, REALTOR, CDPE (Watson Realty Corp., REALTOR, CDPE) — Sat, 07 Feb 2009 16:10:20 -0600

An Orlando Home for Possible ZERO DOWN Payment or LOW Down Payment! Seriously. Do you qualify?? Money available through Orange County Down Payment Assistance funds for Substantially Rehabbed Property in which the home has had more than $5,000 in Substantial Rehabilitation. Funds available are $20,000, $30,000, or $35,000, depending on your income and credit-worthiness and only while the money lasts.

Property Location: 8303 Esperanza St., Orlando, FL 32817 o4896170

Buy This Home for $100,000; Buy This Home for About What You Pay for Rent!

3 BR, 1.5 Bath, 1-Car Garage with 1003 Square Feet under Heat/Air.

WINTER PARK SCHOOL DISTRICT, as of This School Year

This home has the price you want of $100,000. The GREAT things about this home are that it's well-maintained and all appliances convey. All you have to do is Move Right In.

Possibility of Buying This Home for NO- or LOW-DOWN PAYMENT with an FHA loan. Also, there is the possibility of FREE MONEY from Orange County DPA. MOVE RIGHT IN. All-Season Screened Porch and Fenced Backyard.

This Home is NOT a Short Sale NOR a Bank-Owned Home. Updated 3BR, 1.5 Bath Home w/ 1-Car Garage. Kitchen Remodeled (Aug. 2008) by Sears; Cabinets, Countertops. Newer Shingle Roof (2005) and A/C (2006). Updated Bathrooms. Partially Updated Electric. Crown Molding in Living Room--Doors to that Room Make it Usable as a Bonus Room/Den/Possible 4th Bedroom, too. NOT a Short Sale Nor Bank-Owned--Just an Amazing Price for a Move-In-Ready Home. Two Closets in Master Bedroom. Fully Fenced Backyard. All-Season Room Off Sliders to Backyard. Convenient to Everything on the East Side of Orlando. All Appliances Convey. Refrigerator, Washer, & Dryer Convey & Appear to Work but Are Not Warranted. Termite Bond through Massey Services.
The approx. $7,000 Newly-Remodeled Kitchen May Make This Home a Candidate for the Orange County Down Payment Assistance Program.

Ask Me About:

* The $8,000 First-Time Buyer TAX CREDIT! (Limited Time Only Via Our Government). This NEW plan is $500 more than the old $7,500 Tax Credit and now DOES NOT NEED TO BE PAID BACK TO Uncle Sam. Please contact your CPA or Tax Advisor for further details. You may only qualify if you buy a home by the end of summer.

* Information on Zero Down Payment and Low Down Payment Loans for Homes/Orange County Down Payment Assistant and/or City of Orlando Down Payment Assistance Money.

Good Information for Buyers & Sellers Located at:

http://www.winterparkhomefinder.com/

Search for Homes Myself on My Computer in the Privacy of My Home at:

http://lisaspalding.mfr.mlxchange.com/

Best wishes in your home search!

--Lisa Spalding

"How To" Buy a Home Report--FREE for Buyers

FREE REPORT!

How To Buy A Lovely Home
In Orlando With Zero Down or Low Down Payment

Click here:

http://www.orlandoareapropertysource.com/

Senate Approves $15,000 Tax Break for Home Buyers

Lisa Spalding, REALTOR, CDPE (Watson Realty Corp., REALTOR, CDPE) — Thu, 05 Feb 2009 06:31:43 -0600

Okay-so we already HAVE the $7,500 Tax Credit--How about DOUBLE that amount? It's still not a done deal (see below) but wouldn't it be nice for people that qualify to be able to get it?

Which would YOU rather have? $7,500 or $15,000?

Something to think about. --Lisa Spalding, Watson Realty Corp.

Via Elizabeth Weintraub, Sacramento Real Estate Broker, 916.233.6759 (Lyon Real Estate):

This is exciting -- the Senate today voted on the economic stimulus package and approved a tax credit for up to 10% of the purchase price with a maximum of $15,000 for home buyers. It's an amended version of what the House passed, which means it still needs to go to committee. But this is double the amount of the present tax credit which, at the moment, isn't really a tax credit at all but instead an interest-free 15-year loan.

President Obama is behind this big time. Doesn't look like the Republicans are as enthusiastic, but they are in the minority. The President is urging members of Congress to vote on this without delay.

Stay tuned tomorrow for more developments as this piece of legislation works its way through our legislature. I'm stoked. How about you?

The Short Sale Savior, by Elizabeth Weintraub, coming soon to a bookstore near you.

A Rare Tell-All On ActiveRain: 20 Secret Things That REALTORS Wish Morgage Brokers Knew

Lisa Spalding, REALTOR, CDPE (Watson Realty Corp., REALTOR, CDPE) — Wed, 04 Feb 2009 20:08:07 -0600

Awesome post by CA Mortgage Lady. Mortgage Loan Officers, Read It and Know Exactly What We Agents are Thinking. :)

Via Janet Guilbault, California Mortgage Expert (RPM Mortgage):

When the following post was written, the title asked "Why Do Realtors Trash Marketing From Mortgage Brokers?" Somewhere in the discussion (97 comments at this point in time), our passionate Realtor community here on ActiveRain decided to drop 2 words from the title and engage in a rare tell all.

Those 2 words were "Marketing From".

So the truth is, I didn't write this post. You did, amazing readers. Thank you for your brilliance and your continued willingness to openly share ideas on these posts that you might NEVER say out loud to a mortgage person who wants to earn your business.

Almost everyone knows the 3 things Realtors would most like from potential mortgage partners. They are:

On time closings

Calls always returned promptly

Referrals to potential buyers

But there are other things that remain unspoken most of the time. These are the things that taint the Realtor-Mortgage Broker relationship, or at least make the learning curve much higher for mortgage professionals.

These relationships are often like arranged marriages. You learn as you go, and hope to fall in love.

The fact that these things have remained unspoken (until now) means knowing exactly how to establish successful relationships with Realtors has been, well, "challenging" is the word that comes to mind.

Fortunately for our community, the discussion on this post morphed into something much greater than the post itself, with some pretty amazing results.

20 SECRETS REALTORS WISH MORTGAGE BROKERS KNEW:

Don't pop by my office. It tells me you aren't working on your deals.

I don't want to feel like I'm your "new source of leads".

Don't ditch me just because you have refi business.

It is hard for me to trust you because you are a direct reflection on me.

I need to know you are in this for the long haul.

My real test for for you is when its game time and you need to perform under pressure.

It turns me off when I see you are looking out for yourself more than the client.

I don't want your sales pitch, I don't want your donuts, and I'm pretty sure I don't want your rate sheets, either.

Dude, if you just discovered FHA, I'm not giving you a loan.

If your rates are lower than everyone else, I wonder what strings are attached for my buyer.

Tell me how you will solve the problem without scaring me.

I DO want a backup mortgage person. I'm just not going to go out looking for you.

Don't treat my client like a burden, or something you need to endure.

If you drop off flyers at my office, you should be charged for disposing of them.

Make it seem painless.

My biggest fear is that I will need to apologize because I referred you.

When I am the listing agent, I am watching you in action, and grading your performance.

If I don't know you, you are not getting my customer's name. It isn't about your marketing, its about our relationship.

When you explain the loan to me, I am imagining you are explaining it to the client.

I just might call you sight unseen if I like your blog.

Written by Janet Guilbault, Mortgage Lending Specialist Based Out of the San Francisco Bay Area

Buying Bank-Owned Properties: Just Be Careful...

Lisa Spalding, REALTOR, CDPE (Watson Realty Corp., REALTOR, CDPE) — Wed, 04 Feb 2009 10:53:36 -0600

Whether you are the Buyer, the Agent, or the Loan Officer/Lender for the Buyer of a bank-owned property, just be careful that the bank you are buying the property from can actually SELL the property to you. Bank-owned homes are uber-good deals and even steals in some cases. What can you do to protect yourself and (try to) ensure that the property can convey to you?

When a Buyer enters into a contract to purchase a bank-owned home, also called an R.E.O. (Real Estate Owned), they believe that the bank has the right to sell the property to them and most of the time that is true. But what if you are in the middle of a transaction with a bank and are not one of the "lucky ones" and you find out at the last minute that there are clouds on the title for the property?

Here are some things you can do:

1. Request (nicely) that the title company (or in most cases, the attorney handling the transaction) checks the title on a weekly basis up until the closing. They will NOT want to do this but it could mean the difference to you of owning the property in a timely manner or not.

2. See if there is the proper Power of Attorney for real estate already generated and signed to convey the property. For example, with all the issues with banks, takeovers, etc. your bank today may not be able to sell the property if they merge/get taken over by another bank, so MORE DELAYS could occur. For example, if the property is Wachovia-owned, Wells Fargo is going to own them (or maybe already does own them?) which will cause delays. So, see if the listing agent, title company, attorney (or whoever) has a Power of Attorney to sell the property.

3. Have an attorney review your offer, the final contract, the chain of title, etc. And, yes, it WILL cost you money but typically, it's just a few hundred dollars. I know most real estate agents will cringe when I suggest this but we have to do what is in the best interest of our customer, so just bite the bullet and if they want yet another attorney involved, then fine and just understand that more delays are likely to occur. :)

Can you think of any other ways to protect yourself or your customer/client? Thank you in advance for your comments.

Happy Hunting for Great Deals!

** DISCLAIMER: The information contained above is not meant to be construed as legal, financial, or tax advice, so do not take it as such.

Good Information for Buyers & Sellers Located at:

http://www.winterparkhomefinder.com/

Search for Homes Myself on My Computer in the Privacy of My Home at:

http://lisaspalding.mfr.mlxchange.com/

Best wishes in your home search!

--Lisa Spalding

"How To" Buy a Home Report--FREE for Buyers

FREE REPORT!

How To Buy A Lovely Home
In Orlando With Zero Down or Low Down Payment

Click here:

http://www.orlandoareapropertysource.com/

Misinformation: Why Do Others Keep Telling Buyers that Orange County FL DPA $ is All Gone?

Lisa Spalding, REALTOR, CDPE (Watson Realty Corp., REALTOR, CDPE) — Tue, 03 Feb 2009 11:06:59 -0600

MISINFORMATION About Loans and Down Payment Assistance--

Specifically about Orange County Down Payment Assistance is Running Rampant

Well, I am not a mortgage specialist, loan officer, lender, and I have no affiliation with Orange County Down Payment Assistance BUT I have successfully gotten money from them for a Buyer I worked with recently and I am constantly faced with people spreading misinformation about their program, probably because the information is confusing in and of itself and partly because everyone involved in a transaction with them must jump through many hoops (the Buyer, the Loan Officer, the REALTOR, and sometimes the Seller, too). That may be why they get a bad rap BUT--it's worth it for the Buyer who has little or no down payment and is willing to jump through those hoops.

Most recently, I was told by a two well-meaning people that our Orange County Down Payment Assistance Program for First-Time Home Buyers is all out of money. That is just not the case (for this week).

In the first instance, the well-meaning Loan Officer I was recently introduced to said flat-out: "I just came from a meeting in which we were told that the money is almost all gone."

In the second instance, I was at a listing appointment/Seller initial consultation and the Seller told me that another agent that she had met with said to her that that money is "all gone."

Hmmm. While it IS true that there is a lot less money available from Orange County's DPA/SHIP Program, there still IS money available (at least, as of this week). How do I know? Because on Friday, a Loan Officer for one of the Buyers I'm working with told me we got the thumb's up from OC DPA for a new property. That particular Buyer doesn't own the property yet but when the county has the entire loan package and the county reviews the file and says "yes," then it's very likely that it'll go through. That fact doesn't mean it's a done deal but it's likely to mean the money is still there.

So, if you are hearing that a particular loan program is or isn't available or that a particular county or city's down payment assistance funds are or aren't available, please check your source. Well-meaning people may or may not have all the pertinent information. Or, maybe they're talking about another program entirely. Or, maybe they know it's just a very difficult transaction to put together and don't want to bother. These programs are near-to no down payment (100% financing is still available to some people and for some properties) but the Buyer must have at least $1,000 into the transaction.

Well, in the course of writing this post, I heard another agent in my office say "Down Payment Assistance is GONE" and I literally cringed. He confused another lady in my office b/c he didn't qualify his statement by adding "Seller-Funded" DPA is gone, which is true--at least for the time being. But, that may be coming back in a limited form, too. The confused lady in my office did the right thing, though--she got more information and is better-educated because of it. Do the right thing for yourself--GET MORE INFORMATION before you give up entirely.

Tired of Boring Floor Plans? Interested in the Next Best Thing Since Virtual Tours?

Lisa Spalding, REALTOR, CDPE (Watson Realty Corp., REALTOR, CDPE) — Thu, 29 Jan 2009 00:12:39 -0600

Okay. Remember when Virtual Tours/360 Tours came out? You saw some pics. You were amazed. If you were a REALTOR, you didn't want to PAY to have them in your listing and you didn't want to take your own pics for your listings. So, you just bit the bullet and bought them for premier listings, mostly b/c people dangled the percentages in your face about listings with Virtual Tours sell X times faster than those without. The plain fact is, a Buyer will make a choice about whether to even go SEE the home based on the pictures and/or Virtual Tour in the listing.

So, I was introduced this week to what may be the next best thing since the Virtual Tour.

During my office meeting this week, our broker discussed a lot of what you would typically hear such as current market outlook, some in-house issues, what mortgages are still available, the importance of using our own title company, etc. Pretty standard stuff. What made this meeting interesting to me was his choice of speaker for the meeting.

My broker invited a representative from a company called Diakrit to our meeting. Their website is www.diakrit.com

Another factor in whether a Buyer will even choose to tour the home is with the use of a Floor Plan in the pictures on the listing. You've seen them in a few listings here and there--Builder floor plans or artist's renderings about how a property may look. For listings without a Floor Plan in the pictures, Buyers have no idea about the flow of the house or if they can see the kids playing in the backyard from the kitchen window.

One of the other things that most Buyers have trouble with is VISUALIZING how a property would look with furniture in it (Where DOES the bed go?). Also, for listing agents who are working with a Seller than has a lot of clutter, a lot of furniture, a messy house--maybe a Floor Plan with furniture in it could show a Buyer an idealized version of what the house COULD look like if the Seller put more effort into staging.

The Diakrit company specializes in FLOOR PLANS for residential buildings. I don't mean just floor plans, though. There's floor plans and then there's Diakrit's floor plans. They have your standard floor plans like 2 Dimensional and 3 Dimensional. Then, the choices get INTERESTING.

Diakrit provide services for REALTORS and for Builders. REALTORS may draw up a sketch, submit it to them for a pretty nice floor plan within about 24 hours. You have to pay in advance and get "credited" for services and have those credits debited from the account. I haven't really researched the Builder portion of it, but I did tell one particularly good Builder about it and he's probably going to do business with them.

I have not used Diakrit as yet but, when I get an interesting listing, I definitely will. And, their products are cheap. Truly. Ask any Builder.

Take a look at their website and give me some feedback here on whether you think this would be a good idea for some listings. Thank you in advance.

Orlando Condo for ZERO DOWN Via City of Orlando

Lisa Spalding, REALTOR, CDPE (Watson Realty Corp., REALTOR, CDPE) — Mon, 19 Jan 2009 22:43:55 -0600

An Orlando CONDO for Possible ZERO DOWN Payment! Seriously. Do you qualify?? Money available through City of Orlando funds. Funds available are $10,000, $20,000, or $30,000, depending on your income and credit-worthiness and only while the money lasts. Check out their site at GET MONEY.

Property Location: 4279 Pinebark Ave. #15, Orlando, FL MLS # o4870973

Buy This Townhouse-Style Condo for $99,900; Buy This Condo for Less than You Pay for Rent!

2 BR, 2 Bath, 2-Story, End-Unit Condo with 889 Square Feet under Heat/Air and 1-Car Garage

This condo has the price you want of under $100,000. The GREAT things about this condo are that it's well-maintained and completely furnished. All you have to do is Move Right In.

It's in an FHA- & VA- APPROVED Community! Possibility of Buying A Unit in The Community for NO- or LOW-DOWN PAYMENT. Also, there is the possibility of FREE MONEY from the City of Orlando (please see their website link above or just call me). MOVE RIGHT IN. Condo may be bought completely furnished. Screened porch and view of cute pond. Freshly painted interior and updated fixtures.

Ask Me About:

* The $7,500 First-Time Buyer TAX CREDIT! (Limited Time Only Via Our Government)

* Information on Zero Down Payment and Low Down Payment Loans for Homes/Orange County Down Payment Assistant and/or City of Orlando Down Payment Assistance Money

Good Information for Buyers & Sellers Located at:

http://www.winterparkhomefinder.com/

Search for Homes Myself on My Computer in the Privacy of My Home at:

http://lisaspalding.mfr.mlxchange.com/

Best wishes in your home search!

--Lisa Spalding

"How To" Buy a Home Report--FREE for Buyers

FREE REPORT!

How To Buy A Lovely Home
In Orlando With Zero Down or Low Down Payment

Click here:

http://www.orlandoareapropertysource.com/

Reasons to Find a Mortgage Broker Who Will Guarantee Rates and Closing: Yes, It Is Possible!

Lisa Spalding, REALTOR, CDPE (Watson Realty Corp., REALTOR, CDPE) — Mon, 19 Jan 2009 10:20:31 -0600

All right. Many times I am asked by Buyers who want to work with me what my thoughts are on Loan Officers/Lenders/Mortgage Brokers. Well, I have a LOT of thoughts about financing and Elizabeth Weintraub explains some of those thoughts much better than I can. What I want to say is "Ah, don't use that loan officer/lender--use THIS one b/c I've worked w/ him/her before and I KNOW what they are capable of." What I typically say, though, is "It's your choice on who you want to use." I say that because It Is Their Choice, Always. I may be revamping this speech, though, and saying while it's always your choice, I also want you to speak with so-and-so so that I can know what we're really working with. NOT ALL LOAN OFFICERS ARE CREATED EQUAL. Some have very few lenders with whom they work and some have a variety of lenders to work with and some ARE the lenders. Some have in-house processors and underwriters; some don't. Also, a mortgage prequalification is NOT a mortgage approval (but that's another blog...).

If you are Buying a home in Central Florida--please get a second opinion re: your financing. It's quick-it's relatively painless. It could mean the difference to you in terms of giving up your escrow deposit or not or it could mean thousands saved in mortgage interest over the life of the loan or "discount" points saved.

Anyway, happy house-hunting.

--Lisa Spalding

Watson Realty Corp., REALTOR

www.WinterParkHomeFinder.com

Via Elizabeth Weintraub, Sacramento Real Estate Broker, 916.233.6759 (Lyon Real Estate):

A client said yesterday that he was tired of shopping mortgage brokers. "All their rates are the same," he said. He had called a bunch of brokers and their good faith estimates were all very similar. Having been through several horror-story closings due to working with inexperienced mortgage brokers, I recalled the details of a recent escrow, which highlights the fact that service is just as important as the rates.

Folsom home buyers elected to work with a bank in Folsom since the bank was located near their new home. They entered escrow last year, with a scheduled closing date 40 days later. This couple had made travel plans to leave for India on the 50th day, after being assured by the bank that they would close on time.

A week before closing, the loan officer promised the buyers that loan docs would be ready to go out. Every day that week we received an email apologizing for the delay and promising that loan docs were being drawn. This went on for 12 days. The escrow was overdue.

On the 50th day of escrow, the buyers decided to try to cancel their international flight and reschedule it for Sunday. Since their travel agent needed time to contact the airlines, the buyers felt they had no choice but to hop in their car and start driving from Sacramento to the San Francisco airport. They made it to Vacaville by the time their agent called to say he was able to reschedule their flight, at a cost of an extra $2,000.

Almost simultaneously, the loan docs arrived at escrow. The relieved buyers and I drove to Folsom to sign. They studied their estimated closing statement and then asked the escrow officer, "What does POC mean?" It meant the loan officer at the bank in Folsom was receiving 2 points from Wells Fargo. The clients were confused. They weren't paying any loan points. It was hard for them to understand why Wells Fargo would pay their loan officer. YSP is controversial.

When they figured it out, they decided the bank in Folsom should pay the difference they were charged to change their flight plans. Lots of luck with that approach. The thing is if they had used the mortgage company their agent recommended, that lender would have guaranteed the fees shown on the good faith estimate and guaranteed the file would close on time. They would have received a lower interest rate, too, because 5% with high FICOs and low debt ratios was not the best rate out there. My preferred mortgage company gets wholesale rates from Wells Fargo. It would have paid charges incurred if the escrow didn't close.

I didn't share my thoughts with them at that point because there was no reason to rub salt into their wound. Besides, I had explained it 50 days ago. The choice in lenders is always the buyers' decision.

Sacramento home buyers deserve guarantees from their mortgage broker. When you interview a mortgage broker, ask if the good faith estimate is guaranteed. Ask if the closing date is guaranteed. If the mortgage broker can't deliver that guarantee in writing, call me, and I'll refer you to a mortgage broker who will, even if it's not my transaction.

The Short Sale Savior, by Elizabeth Weintraub, coming to a bookstore near you in February.

Photo: Elizabeth Weintraub