This month marks the anniversary of a short sale that I've been working for one year.

I have tons of interest in the property. Buyers call all the time. I have a cash buyer right now who offered full price and is sticking with this deal in hopes of getting the $8000 tax credit and because he plum loves the property.

Here's the HUGE issue:

The first mortgage - US Bank - approves the deal. But they won't issue an approval letter until the second lender agrees and sends their lien release / approval letter.

The second mortgage - Chase being negotiated by a third party Tate & Kirlin - semi-approves the amount they're being offered, but won't issue an approval letter until the first mortgage issues their approval letter.

Huge Catch 22 dilemna.

I have an attorney avidly working the file. I'm working the file. The seller is working the file. Heck, the buyer is even offering a little more cash and trying to come up with other ideas.

We've gone to supervisors, we tried to get Tate & Kirlin dumped so we could work directl with Chase. NOTHING is working.

At this point I feel [after a year] that if I can't get the two lenders to agree then the property will go to foreclosure and EVERYONE is working to make this thing happen but we're being hung up on silly paperwork.

Has anyone faced this dilemna before and have any advice?

Much thanks in advance if you have any out-of-the-box ideas.

I'm not typically an early-adopter but the iPad I just had to have because I could see how much it would complement my work as a Realtor so I pre-ordered and got the 3G version the day it came out. (I have never been so excited about a FedEx arrival in my life).

What's the number one question you get while out touring homes? "What are the taxes on this property" and you can bet that whatever is entered on the MLS isn't correct. So that was reason number 1 for using it - mobile access to the internet whenever and wherever.

And now let's begin my argument for why every agent should have the iPad:

#2) Super-fast power-on and power-off. One thing I hate about lugging a laptop or netbook is how slow it takes to turn on and off. By the time I'm on the internet my customer has asked me 3 other questions and now I just look like a bumbling fool. The iPad turns on with a touch of a button and a swipe of the finger. Pick your app and have at it.

#3) Dropbox. Sync and access your documents from ANY computer with internet access. I have Dropbox synced on my work laptop, my Macbook, and my iPad and I never have to worry about where my documents are. Dropbox gives you 2 Gig of free storage space when you join (that's a lot).

I save my MLS sheets for a tour to a folder in Dropbox. When we go on the tour, I can flick through the sheets and have access to all the information that was on the MLS.

 >> Get 250 mb of extra free storage by using my referral link. ;)

#4) Map / GPS that comes with the iPad. Customer asks, how far are we from the beach? and I can visually show them with some cool finger-manuevers on the Map of iPad.

I love the GPS on the Map so much better than my car's GPS that I find myself bringing out the iPad to navigate more often.

#5) Looking really cool. Yes, it helps to look like a complete uber-geek with an iPad and customers get a twinkle in their eye when they know their agent is tech-savvy.

#6) Long battery life. I charge mine maybe twice a week.

Major CON: So far our Regional MLS is not compatible with the Safari browser so I cannot get on the MLS while out and about.

Alternatives to this issue:

• Realtor.com application (still only for iPhone) that allows map-based search and gives broker office's phone number
  
• Remote Desktop application. There is one by Jumpdesktop.com that is $19 and will allow you to remote desktop to your "main" windows computer and go on Internet Explorer. However, you have to always have your main computer up and running. I'm considering trying this out.
  
• Agent IDX application (free). From what I understand you can register with Agent IDX and prove your a Realtor through their website and they give you a code.

My opinion on a few other things:

I think Realtor.com needs to get with it and create an iPad app or make their iPhone app, iPad compatible. Zillow has a stellar iPad app that puts Realtor.com's to shame! I don't use Zillow because I know it's not a true database of all homes listed for sale but I've seen my customers using it on their iPhone when we're out touring property.

You've gotta buy the 3G version. Don't skimp and go with wifi only. Unlimited access is $30 a month - that's cheaper than an air card.

I held out on buying an iPhone because I didn't want to switch to AT&T. I can now say that I will never buy an iPhone because the iPad does it all and I don't see why I would want to do the same business on a smaller screen. I'm happy with my blackberry (that has real keys) and kind of enjoy its simplicity.

I don't think that I'll ever give up an actual clunky laptop. Typing on the iPad isn't bad but I couldn't bang out a long-winded email and mostly use the typing feature just for quick emails and forwards. Viewing attachments on the iPad is fabulous (much better than a blackberry).

Can't wait to hear other's thoughts on favorite apps and such.

- Sarah Taylor
www.SarahTaylor.com
RE/MAX Masterpiece Realty

Okay friends, I just pre-ordered the new iPad and I feel like a kid at Christmas! 

I can think of a zillion ways in which I will be able to use it for my business - on tour with customers, making appointments, showing photos of the beach while we're touring houses .... Limitless possibilities.

But my only daunting dilemna is that our Regional MLS uses MLXchange - which is not Safari compatible. Anyone have any ideas or faced with the same problem?

At this point in the game I think an MLS owes it to its subscribers to offer a product that is compatible for all types of internet users and not be IE proprietary.

I've got one month to brainstorm, campaign, and figure out how to make my MLS work on my shiny new iPad when it gets here. Otherwise, I'm going to be left with technologically handicapped and resent my MLS for not supporting my super-savvy needs. ;)

Anyone else out there have the iPad on pre-order? Have ideas on cool ways to use it for your business? Any ideas to share?

 

Photo Credit www.Apple.com/iPad

The year 2009 has drawn to a close and I became curious to know how many short sales were sold in Port St Lucie this past year versus 2008. I ran a search on our MLS only looking at Single Family Residences (SFR) that sold  - not condos, townhomes, villas, or manufactured homes.

Here are the numbers for Port St Lucie:

2008 Statistics
3,234 SFRs sold
314 were short sales
That means 10% of all sales in 2008 were short sales

2009 Statistics*
4,430 SFRs sold
992 were short sales
That means 22% of all sales in 2009 were short sales - a 12% increase from the year before!

Current available inventory of single family homes (as of Jan. 4, 2010)
1,668 Single Family Homes Available for sale
714 are short sales!
That means 43% of all homes for sale are in the short sale status - that's almost half of the market of Port St Lucie!

What does this mean for Buyers?
Short Sales are not going away - they're increasing!
If you're planning on purchasing a home in the near future, you want to work with an agent who understands the process and can anticipate hang-ups before they happen. It's also always a double-bonus if you can make an offer on a property where the listing agent is a Certified Distressed Property Expert.
I can help you navigate through the sea of short sales and help you find one that will suit your needs and (hopefully) not take forever to close!
Fill out this contact form to get started.

What does this mean for Sellers?
Half of your competition is a "distressed sale" and that doesn't even include the foreclosures on the market.
But don't dispair because if you're priced competitively a buyer may be more apt to look at your property over a short sale for the sheer fact that they know there is no third party approval.
If you are facing a financial hardship, you and I need to talk because there are many ways from saving your property from foreclosure.
Fill out this contact form to get started.

So this, my friends, is what we're facing as we go in to 2010. I'm incredibly optimistic because I know that I'm going to be able to help many homeowners avoid foreclosure and I'm going to put many buyers in to a home that they can afford and that meets their needs.

*This was data on January 4, 2010. It's quite possible that some agents may not enter their sales for December 2009 until later (maybe they forgot to change the status in the MLS). These numbers may be higher after those sales are entered.

 

The urgency is clear and I'm hearing it from all angles - local buyers want to find something FAST before their $8000 tax credit runs out and our neighbors to the north feel that the deals are going to start drying up.
For example, in the past two weeks I have worked with a buyer who is desperate to find a good home and get it closed before he misses the free government money. We've successfully found him something and we're on our way towards closing!

On the other side of the coin I've been getting lots of calls from buyers in NY, NJ, and CT that are consistently stating that they feel that the good deals in South Florida are going to start drying up and they need to act fast. Most of the people that are buying from the North are looking for condos or smaller homes that they can retire to in the near future. Although, recently I've worked with a lovely young family who want to relocate from Connecticut to Tradition or St Lucie West so the mother can work at one of the local schools.

This home-buying frenzy has really impacted my perspective about our economic hardships. When I'm out in the public I somtimes am taken aback by the doom and gloom because all day I'm surrounded by people who are wanting to make a deal happen and find their dream home or retirement home. I think I would consider myself lucky that I am able to make these opportunities available and the constant urgency is what keeps me upbeat about our "down" economy.
I can say that I love to bring smiles to faces when people ask "how's the market" because I always tell them what they didn't expect to hear - that we're doing fantastic and properties are flying off the market.

Current Active Inventory: 2045

Total Number of Single Family Homes Sold for July: 401
Which can be further broken down into
Short Sales: 88
Foreclosures: 139
Total Sales including Condos, Manufactured Homes, Duplex, Townhouses: 430

Median Sales Price: $105,010

Median Days on Market: 73
Median Days on Market for Short Sales: 185

Click here to view my statistics report chart

All real estate is localized, meaning that the numbers for Port St Lucie as a whole don't necessarily translate the same into individual neighborhoods. Up in the Torino area new listings may fly off the market within days whereas other areas may not go so quickly.

If you're looking to buy or sell a property within a particular neighborhood or region I can tell you what's going on in your geo-area and what to anticipate. Start a conversation here.

* Single Family Homes does not include duplex, townhouse, condo, manufactured home, or commercial.
_____________________________________________________
The accuracy and authenticity of this information is not guaranteed.
Source: Regional MLS, Inc.
This report does not include sales sold "By Owner" or those transfered by other means; the report only contains properties within the Regional MLS.
08/15/2009 - Date that "active" inventory was pulled.
Prepared by Sarah Taylor of Re/Max Masterpiece Realty

Escape to your tropical paradise but know that you’re not far from everything that you need in this adorable little community called Indian River Villas.

Just across the street from a public boat access and sailing center, this end unit is only one of 12 in this community.

The owners completely renovated this home and it looks like something out of a Crate and Barrel catalogue!



More photos here:



For more information, contact Sarah Taylor at 772-485-3214.

Report for Port St Lucie, Florida -
Market Statistics > June 2009

The summer is upon us. In certain areas, activity slowed down a bit in June as school let out, the last remaining snow birds traveled home, and families prepared for vacations and 4th of July celebrations.

Port St Lucie boasted 472 residential sales*, 427 of which were single family homes. Compare that to June 2008's 344 residential sales (326 of which were single family homes) and we're up by 37% over last year.

Short Sales Sold in June 2009
So how many of those 472 sales were short sales in June? - 98.
Roughly 21% of our residential sales in June 2009 were Short Sales.
How quickly are these short sales closing? - 172 days is the median for June.

 Click here for a better breakdown of sales and inventory.

All real estate is localized, meaning that the numbers for Port St Lucie as a whole don't necessarily translate the same into individual neighborhoods. Up in the Torino area new listings may fly off the market within days whereas other areas may not go so quickly.

If you're looking to buy or sell a property within a particular neighborhood or region I can tell you what's going on in your geo-area and what to anticipate. Start a conversation here.

 

 

*Residential Sales equates to Single Family Homes, Townhomes, Villas, Condos, Duplexes, and Manufactured Homes.
_____________________________________________________
The accuracy and authenticity of this information is not guaranteed.
Source: Regional MLS, Inc.
This report does not include sales sold "By Owner" or those transfered by other means; the report only contains properties within the Regional MLS.
07/15/2009 - Date that "active" inventory was pulled.
Prepared by Sarah Taylor of Re/Max Masterpiece Realty

Southbend is special to me because it's the neighborhood that I call home.


While it's not gated, nor does it have a Home Owner's Association, Southbend has the appeal of those types of communities. So for highlighting this area, I can speak from personal experience and knowledge.


Top Reasons Southbend is so desireable:

• Community Park (Jessica Clinton Park) with ball fields, basketball courts, playground, pavilion, soccer field
• Miles of winding sidewalks Great for riding your bike, jogging, walking the dog, and any other types of exercise
• Fishing and Canoeing or Kayaking - there is a bridge at the front entrance with side access to cast a line or launch a canoe I remember putting our boat in at this access area as a kid - but the city has since closed it for boaters
• Shops and Publix There is a beautiful shopping plaza at the corner of Becker Road and Southbend Blvd that has a Publix, restaurants, and other necessary shops
• Access to the Turnpike is near As well as new access to I-95 from Becker Road (July 2009)

Slideshow of some Southbend highlights








For Buyers ~ Ready to move into a neighborhood that has most of the comforts of an "HOA" but without the fees? Prices are low and incredibly affordable. Visit my website to get in touch for a private tour or information on current prices.


For Sellers ~ Have property to sell or rent in this community? I can help you determine what a competitve price will be and then mass-market your property with my unique movies. In addition to using the community photos as you see above, I also make a customized movie of your property that goes in the MLS as well as many other websites. Visit the Sellers section of my website learn more about my marketing expertise.

More Photos:

May 2009

Eric and Sarah had one goal - to escape the cold winters of Maine and spend time in sunny south Florida. As avid sailors, they had been to Stuart twice and knew that this town was the place for them - the closer to the water the better.

We hit it off well from the beginning and had a great time over two seperate weekends touring condos, duplexes, and townhomes that were within their price range.

The moment we drove down the street to one duplex that was on our tour list to see, they knew it was "the one." There was no picture of the property on the MLS so we were a little concerned that it wasn't in good condition but we quickly found that it was everything that they needed.

The bonus? It came with a boat slip on the St Lucie River!! This duplex was about 4 houses in from the river and came with a slip right on the end - big enough to house their sailboat. The duplexes on this street don't go up for sale often and we were lucky enough that this one was an estate sale so we were working with a regular seller and not the short sale or foreclosure process.

Eric and Sarah aren't planning on moving down right away but the big success - to me - is that we became great friends and we've already broken the home in with margaritas when they were down a month after closing.

Cheers to Eric and Sarah!

 

Are you looking to purchase a property?
Click here for articles to help you with the process.

Brought to you by Sarah Taylor