There has been so much activity lately of the 'shadier' sort here in Pinellas County, Florida--I thought it pertinent to mention yet again some of the scams which have surfaced, proving yet again that greed really brings out the worst in many.
Distressed Homeowners: PLEASE don't sign over your deed to anyone--this does not release you from any obligation with your lender--all it does is remove your rights.
It is quite clear that we have reached the point, at least here in Pinellas County, where those great deals are getting harder to find--which is good news for those wishing to take advantage of the tax credit this year! For the distressed homeowner looking for options, however--BE WARY--the sharks are out and it's a FEEDING FRENZY...so get some good advice from a trusted source! Anyone out there offering these kind of 'deals' to people already out of options is not looking out for your best interests!
Pasco County Homebuyers Rejoice! The long-awaited funding of the Pasco County Neighborhood Stabilization homebuyer assistance program has happened--so you'd better get in while the gettin's good! For those who are not yet in 'the know'--Pasco County received one of the largest endowments for community redevelopment and stabilization, due to the Gi-normous amount of foreclosures in the county in the past couple of years. These funds are already at work on a number of homes purchased by Pasco County as rehabbed and affordable homes, and now the program which allows buyers to access up to $20,000 in interest-free assistance is available as well.
Take note--this is a program for those wishing to purchase homes to live in, not as investment:
"Congress passed legislation in the summer of 2008 providing funds to local governments to help homebuyers purchase foreclosed and abandoned homes in order to stabilize neighborhoods across the country. Pasco County is using these funds to assist homebuyers with their downpayment, closing costs, and rehabilitation so they can get into a safe, decent and standard home. This is a program for homebuyers, not investors. We want more homeowners in Pasco County."
Some details of the program:
⌂ Maximum sales Price: $240,000
⌂ For Purchase of Foreclosed or Abandoned homes* only
⌂ Sales Price must be 85% of appraised value
⌂ Borrowers do not have to be 1st time homebuyers**
⌂ Family Income limits apply
⌂ Essential Service workers can receive $10k more assistance
⌂ Low Income can receive up to 50% of sales price
⌂ Homebuyer must attend Homebuyer Ed class Prior to contract
⌂ Max County Loan cannot exceed 50% of appraised value
⌂ Minimum Investment*** from borrower $500 - $1,250
⌂ County Loan Interest Rate is 0%
⌂ Payments required are determined by Debt-to-Income Ratios
⌂ Recapture Affordability Provisions****
⌂ POP agencies buy foreclosed/abandoned homes, repair them and make them available for sale to low and moderate/middle income families
You MUST work with an approved Realtor and lender who have taken the program's classes as well--so if you are interested in this program, and you are not working with a Realtor or lender already:
If you or anyone you know is currently creeping into default, please call me, email, or check ... (0 comments)
foreclosurebuspasco: Foreclosures In Pasco County Florida - Some of the Best Deals Aren't! - 02/08/09 04:19 PM Still attempting to dispel the myths and misinformation about foreclosure homes in Pasco and Pinellas County, our Foreclosure Virtual Bus Tour continues, to several fine Pasco County neighborhoods where the deals are there for those who choose to L@@K! On this stop, The Lakes in New Port Richey:
To ... (0 comments)
foreclosurebuspasco: ForeclosureBusPasco Tours Some Great Pool Homes ON SALE NOW! - 02/02/09 12:12 PM Still attempting to dispel the myths and misinformation about foreclosure homes in Pasco and Pinellas County, our Foreclosure Virtual Bus Tour continues, to several fine Pasco County neighborhoods where the deals are there for those who choose to L@@K! Today we are touring the Timber Oaks area near Jasmine Estates in ... (1 comments)
foreclosurebuspasco: Foreclosure Bus Tours Pasco County Pool Homes in Regency Park - 02/02/09 11:26 AM Still attempting to dispel the myths and misinformation about foreclosure homes in Pasco and Pinellas County, our Foreclosure Virtual Bus Tour continues, to several fine Pasco County neighborhoods where the deals are there for those who choose to L@@K! Our first stop, Regency Park, and an El Dorado model pool home, ... (0 comments)
foreclosurebuspasco: "Anything Selling in ALOHA GARDENS?" she asks... - 12/29/08 03:32 PM A client/friend of mine just asked this today, with impeccable timing, since I just finished compiling foreclosure statistics for Pasco County, Florida, where she lives. So let's take a look at Aloha Gardens--a lovely, waterfront community of moderately priced homes in Holiday, Florida. I know the area well, since my own ... (1 comments)
foreclosurebuspasco: Florida FORECLOSURE FORUM--What's Happening in Your County? - 12/29/08 01:48 PM There has been SO much speculation regarding foreclosures and the market bubble bursting, etc., etc.--I want to know what's happening in YOUR area, because, as professional Realtors I don;t have to tell you (because you already know), that every market IS different, and what's happening a couple of counties away may ... (0 comments)
foreclosurebuspasco: ForeclosureBus Tours More Pasco County Neighborhoods - 12/16/08 05:46 PM Still attempting to dispel the myths and misinformation about foreclosure homes in Pasco and Pinellas County, our Foreclosure Virtual Bus Tour continues, to several fine Pasco County neighborhoods where the deals are there for those who choose to L@@K! Our first stop, LaVilla Gardens in New Port Richey:
Next, ... (0 comments)
foreclosurebuspasco: Beacon Square in Holiday Currently Has THIRTY Foreclosure Deals - 08/18/08 07:57 AM Beacon Square, a popular neighborhood in Holiday, due to its proximity to the Gulf, affordability, and easy access to Pinellas and Hillsborough Counties, is showing a turn in foreclosure sales. Since January of this year, 32 foreclosure homes have sold, and there are now only 30 on the market (I look ... (0 comments)
foreclosurebuspasco: Sea Pines Golf and Gulf Front Community ~ Conservation Lot - 07/28/08 07:00 PM Sea Pines in Hudson, Florida - Great Gulf Access, Golf Course Community, Discount Pricing! This is one GREAT home, and one really HUGE deal--for less than you can rent a lovely 2/2/2 home like this, you could be buying THIS one!
To GET TICKETS for the next FORECLOSURE ... (0 comments)
foreclosurebuspasco: Westchase to Wesley Chapel - The Foreclosure Bus Covers Tampa Bay - 07/22/08 02:27 PM WEE-OOH! The Tampa Bay Foreclosure Bus had a great tour on Saturday--you shoulda been there! We saw some great homes, and there are plenty of really great deals out there, so make sure you make the NEXT bus! Here's some examples of what you might see:
foreclosurebuspasco: The Foreclosure Bus Rides Again! Preview Some West Pasco Deals Here! - 07/22/08 02:13 PM If it ain't fun, don't do it...so I'm trying to make this FUN--I hope you enjoy my quirky sense of humor and...ok, weirdness--it's just weirdness. Hop onboard the Tampa Bay Foreclosure Bus and see what's out there in foreclosure homes! Take a look, and if you see something you like, or ... (1 comments)
foreclosurebuspasco: Take A Peak Up Countrywide's Skirt...Yikes! Are Foreclosures Slowing Down? - 07/02/08 07:02 PM Yes, it's true--The State of Florida has a lawsuit against the Nation's largest lender--Countrywide Mortgage, while Bank of America finishes it's acquisition of the troubled company. Our State's Attorney General says Countrywide HAD to know they were giving loans out like handing lollipops to diabetic babies. Big news, right? Here's the ... (3 comments)
foreclosurebuspasco: Which Would YOU Rather--FIVE Years or ONE Year? - 06/24/08 03:41 PM If you or anyone you know are considering "letting go" of your home to foreclosure--be sure you know ALL the facts first! The rules are changing, and have changed--used to be the difference between a Short Sale and a Foreclosure was about a hundred points on your credit, and a year ... (0 comments)
foreclosurebuspasco: Distress Sale in New Port Richey - The Short Bus Stops Here - 03/31/08 02:57 PM No, this is not an "anti-PC" post--the "Short Bus" in this case is my newest project--instead of playing on the foreclosure side of the fence, why not tackle the side on which we might actually make a difference and help someone? That, my dears, is called a "short sale"--when a homeowner ... (2 comments)
foreclosurebuspasco: Short Sale in Port Richey ~ The Foreclosure Virtual Bus Tour Stops in Ridge Crest - 02/28/08 07:54 PM Foreclosure and Short Sale Virtual Home Tour stops in Port Richey for one of the best deals around. This home in Ridge Crest is an incredible value, listed at only $120,000. Many homes in this area have sold for well over $170,000, so there is instant equity in this home! All ... (2 comments)
If you or anyone you know is currently creeping into default, please call me, email, or check ... (0 comments)
beacon woods: Great Neighborhood ~ Lovely Patio Home in Beacon Woods - 05/13/08 11:50 AM It's all here - three bedrooms, two full baths and a split plan ideal for a guest room/mother-in-law/teenager situation. Plenty of room, with over 1400 square feet inside, two patios, and a spacious, open floor plan with cathedral ceilings--this is a must-see. Beacon Woods is a wonderful, deed-restricted golf course community, ... (2 comments)
beacon woods: Beacon Woods Patio Home in Beautiful Bayonet Point, Florida - 10/14/07 04:22 PM Truly a lovely 3 bedroom, 2 full bath Patio Home in Beacon Woods - close to shopping, hospitals, moments from the beach and marinas. Play golf, tennis, swim, get fit at the fitness center, or just enjoy a walk through the beautifully landscaped, tree-lined neighborhood. Tour Beacon Woods, or take a look ... (2 comments)
beacon woods: Home Staging Project in Process: Beacon Woods Lovely Home - 10/04/07 03:24 PM I realized that I posted this initially just to the "Stage it Forward" group, but I've had such a wonderful, helpful response I really want it here in my blog as well. Here's the inital post, and the first comments and suggestions I've gotten--once I've applied the suggestions I will post ... (4 comments)
beacon woods: Beacon Woods in Bayonet Point, Florida ~ Lovely Home in a Great Community! - 09/06/07 07:09 PM Search More Listings in Beacon Woods and Hudson, Florida Tour the Lovely Community of Beacon Woods, courtesy of Katrina Madewell. Tampa Bay Real Estate - Suncoast Homes for Sale in St. Petersburg|Tampa|Clearwater|Palm Harbor|Trinity|Gulf Beaches|Safety Harbor|Crystal Beach|Ozona|Oldsmar. By Referral Only means telling someone you care for about someone you respect~ Please Don't keep Me ... (11 comments)
Some more onsite video I've taken of the BEST DEALS to be found in Pasco County--highlighting Beacon Woods, which is a lovely, deed-restricted golf community in Bayonet Point (a section of Hudson), Florida.
If you or anyone you know is currently creeping into default, please call me, email, or check back here--I'll be hosting a Distressed Property Help Seminar and special call-in lines to help answer your questions.
For more Tips and strategies if you are facing foreclosure-check my website
Facing Foreclosure? GET GOOD ADVICE FREE INFORMATION
Continuing the process of learning as much as I possibly can about my local market and how best to help those caught in the pinch of the mortgage crisis and subsequent foreclosures resulting, I've been compiling statistics in an effort to hopefully sooth some fears.
Nationwide, the statistics of homeowners who are currently not making a mortgage payment is reported as one in ten--this means that if you walk outside your house, look up the street and down the street--there is at least one house in view where there is a homeowner who is struggling to make their next mortgage payment.
An even scarier statistic is that one in six homeowners are "upside-down", which means that they owe more on their home than it is currently worth in today's market.
One perspective I would like to mention, however, is that being upside down is only an issue if you actually HAVE to sell your house--for those who are not having difficulty making payments and plan to stay in their homes, well, no problem, right?
To me, the biggest shame is the number of homeowners who are in over their heads and are not getting the help they need to resolve the situation, or perhaps even worse--they know they are in trouble, and turn to the wrong kind of help.
I have a friend who came to me recently, asking for my help and advice because he was getting behind on his mortgage payments, and he really wanted to keep his house. I advised him to first speak with his lender, which did happen to be one I know to be offering good loan modification solutions.
He took my advice, and the lender offered a 2.25% fixed interest rate for two years, and then a fixed 5.5% for the remainder of the loan term.
"Great!" said I--having seen a number of 'workouts' which did not benefit the homeowner enough to get them out of trouble.
Not the end of the story, however--this same friend had also been approached by another type of bottom-feeder--a "private lender" who offered to purchase the house as a short sale from the bank, and allow the former owner to then re-purchase at a lower purchase price, for a fixed profit for the lender.
I asked every single professional that I know, and this scenario stunk more and more the longer it was exposed to the light of day. Can you say "fraud"?!
PLEASE
I'm begging--if you are falling behind on your mortgage payments--please, please consult with one or more certified distressed property agent, or an attorney, or a CPA--NOT your family attorney, NOT anyone else who is not familiar with the current real estate market--someone who is successfully negotiating these very tricky situations in the trenches right now.
If you or anyone you know is currently creeping into default, please call me, email, or check back here--I'll be hosting a Distressed Property Help Seminar and special call-in lines to help answer your questions.
For more Tips and strategies if you are facing foreclosure-check my website
Facing Foreclosure? GET GOOD ADVICE FREE INFORMATION
Still attempting to dispel the myths and misinformation about foreclosure homes in Pasco and Pinellas County, our Foreclosure Virtual Bus Tour continues, to several fine Pasco County neighborhoods where the deals are there for those who choose to L@@K!
Our first stop, :
To GET TICKETS for the next FORECLOSURE BUS TOUR, FILL OUT THE:
Be sure to tell us how many tickets you'll need, the cost for the entire day will be only $25 per person. Thanks for your interest, and best wishes in your home search.
For more Tips and strategies if you are facing foreclosure-check my website
Facing Foreclosure? GET GOOD ADVICE FREE INFORMATION
Wow--this is a phenomenal deal--fifteen other homes for sale in this neighborhood, which is a really good one in Tarpon Springs--and this one is priced near the bottom of the list...and it's been COMPLETELY UPDATED!!
This is NOT a foreclosure, this is NOT a short sale--this is just one GREAT value--so come and take a look!
To GET TICKETS for the next FORECLOSURE BUS TOUR, FILL OUT THE:
Be sure to tell us how many tickets you'll need, the cost for the entire day will be only $25 per person. Thanks for your interest, and best wishes in your home search.
For more Tips and strategies if you are facing foreclosure-check my website
Facing Foreclosure? GET GOOD ADVICE FREE INFORMATION
I was checking out some statistics myself this week, after noting that median price sales for December, thus for the entire last quarter of 2008, were up from the year-to-date average, unlike the prior year, which was still on the decline.
Does this mean an end in sight to the real estate downturn? Maybe so--optimists like myself think so!
Here's what FAR has to say:
ORLANDO, Fla. - Feb. 12, 2009 - Sales of existing single-family homes in Florida rose 13 percent in fourth quarter 2008 compared to the same period a year earlier, according to the latest housing statistics from the Florida Association of Realtors® (FAR). A total of 30,163 existing homes sold statewide in 4Q 2008; during the same period the year before, a total of 26,635 existing homes sold statewide. It marks the second consecutive quarter that Florida has reported higher existing home sales; sales activity rose 5 percent in 3Q 2008 compared to the same period the previous year, according to FAR.
I must mention, I had gotten myself into such a snit over the whole media bruha again, while compiling statistics for a speech I gave last night--some of the REALITY which was revealed is that, yes indeed, those market-callers who say that Real Estate has traditionally maintained a 5-year cycle were correct, at least, in Pinellas County--take a look at the pretty chart I made which actually shows the real estate 'bubble', and where we are now--right back to where we were some 5 years ago:
I won;t go into any long-winded explanation of how I arrived at the numbers here--let us suffice to say I melded sales statistics into an apples-to-apples comparison for charting purposes. Oh, yes--numbers can be FUN when there are charts to be made!
Here's another, which targets the exact month and year that the bubble stretched to the breaking point:
Cool, huh? Please note--we are NO DIFFERENT in terms of real estate sales RIGHT NOW than we were in...oh, say--2004?
Still attempting to dispel the myths and misinformation about foreclosure homes in Pasco and Pinellas County, our Foreclosure Virtual Bus Tour continues, to several fine Pasco County neighborhoods where the deals are there for those who choose to L@@K!
On this stop, The Lakes in New Port Richey:
To GET TICKETS for the next FORECLOSURE BUS TOUR, FILL OUT THE:
Be sure to tell us how many tickets you'll need, the cost for the entire day will be only $25 per person. Thanks for your interest, and best wishes in your home search.
For more Tips and strategies if you are facing foreclosure-check my website
Facing Foreclosure? GET GOOD ADVICE FREE INFORMATION
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