I just received an email that was asking the following.....
I'm looking for anyone who has evidence of, or experience with, any "buy & bail" transactions. Those would be transactions whereby someone purchased a new home at today's discounted price then stopped making payments on their prior residence which had them in a negative equity position.
ABC-TV News wants to do a story on how the brand new lending guidelines restrict people from being able to pull off the "buy & bail". It's not an expose style article and no one will be expected to incriminate themselves in any manner. We're looking for expert opinions.
Please let me know if you can supply any pertainent info. Many thanks.
I then translated the word HOME with TRACT-OF-LAND purchased by Home Builders.
Are we in a place where Home Builders are Buying and Bailing? Well maybe more elloquently said, Home Builders Had Purchased TRACTs-OF-LAND and are now Filing for Bankruptcy?
I am wondering if Real Estate Agents, in the State of Florida, HAVE to fill in the Construction Bucket in the MLS Listing, with the type of construction the Listed Property is made of, for example, if the property is a Frame House, can the Real Estate Agent INTENTIONALLY NOT PUT THAT INFORMATION into the Listing, such that that Bucket has no information displayed?
It would seem to me that the Real Estate Agent would fear a LAW SUIT for not disclosing something as important as that!
Would the Responsibility be on the Agent, on the Broker, or on the DBPR, or on the local Association of Realtors, or the MLS Service?
Some people say that the Construction Material is very important regarding the cost of Insurance.
Some say that the discount on Frame Constructed Properties is close to 10% off of CBS homes.
Some say that CBS homes are Code Compliant with the new Building Code, even though the property was built before the new Building Code.
I am just posting this to the RE Opinions section.
I, myself, would be afraid to have a Listing on the MLS that did not state the material that the property was made of. Yet, I see sooo many Listings with out the information!
Part 4 - Bank Owned Property for Sale in Palm Beach County at a Deeply Discounted Price!
Don't Miss this ONE!
Elevator Condo in Gated Community on the Intra-Coastal Waterway,,,
just North of Blue Heron in Riviera Beach, overlooking Singer Island in Palm Beach County!
2 Bedroom, 2 Bath, Condo in Move-In Condition!
Speaks of 2nd Home, On the Water, and a Snowbird's Haven!
The VIEWS from this Condominium in Wilshire West Condo Apartments are FANTASTIC!
It is Freshly Painted in a Tropical Color and has Lovely Tiled Floors!
Price and Location will sell this roughly 1,050 Square Feet Gem! The Balcony has been enclosed! Take a look at that View!
Listed at $158,000.00!
Compare Prices with other Condos for sale in the Community!
BUT WAIT! THE BANK ,,, WANTS THIS PROPERTY SOLD and OFF ITS BOOKS !!!
MAKE AN OFFER!
BEST KEPT SECRET ON THE INTRA-COASTAL WATER WAY!
I just listed this Beautiful Condo and it is Ready for You!
Great for 1st Time Buyers or Investors!
Or, perhaps for your Clients, or your Family, or your Friends!
Directions: If you are a Real Estate Agent, call me for Details before Showing!
I-95 to East on Blue Heron Go to Just-Before the Blue Heron Bridge that crosses the Intra-Coastal Waterway and head North on Lakeshore. Go about ¼ mile along Lakeshore and take Right onto 2nd Wilma Circle Entrance. To 410 Wilma Circle. The unit is on the 4th Floor, Number 407!
For more information, please look up MLS # R2917388, or give me a call at the Toll Free Number below for a viewing!
I look forward to hearing from you!
Steven P. Wood, Realtor Palm Coast Realty, Inc. 12300 Alt. A1A, Suite 209A Palm Beach Gardens, Florida 33410
I am at Your Service for ALL of Your Real Estate Needs, Specializing in PALM BEACH and MARTIN and St. LUCIE COUNTIES and the Towns of Jupiter, Juno Beach, Tequesta and Palm Beach Gardens !!!
Click here to receive monthly newsletters and stay up-to-date on local real estate.
I caught myself explaining, or was it telling,,, one of the Snow Birds, that was leaving Sunny FLorida soon, that I will be missing them after they were gone!
And, I warned them to be careful up there,,, besides the Cold that they are flying away to,
I told them that they may have to worry about
The Moose when
they drive away form the airport once they arrived back North,
to New York and New Hampshire, Vermont, Maine, Massachusetts, South Dakota, North Dakota, Wisconsin, Michigan, Ohio, and Northern Pennsylvania...
Toronto, Ottawa, Canada, Nova Scotia, etc!
ATTENTION,, ATTENTION,
I have not heard of any Moose Accidents here in Florida!
Specifically in Palm Beach County, or Martin County, Saint Lucie or Broward Counties.
I did hear about a Moose Lodge Accident down in Broward County,,, Can I mention all the lies and talk of unabashed,,,, ABSOLUTELY NOT! This is a PG Posting!
Do WE have Ice issues here!
The Ice issues are about the following:
1) Do we have enough Ice for the Cuba Libres, Iced Tea, or Long Island Iced Tea, the Dr Peppers and Cokes or Pepsies, the Pina Coladas, the Rum Runners, the Margaritas (Margarita Ville), and Hurricanes,,, etc,
2) can you afford the Ice you need when you propose to your Sweetie
3) you can't out run the POL ice Radios! (especially here in Jupiter, Juno Beach, Palm Beach Gardens, and Tequesta, Florida)
We also have Alligators and Crocodiles,,, But so does the North!
Watch out for the Guys wearing the Crocodile shirt,,, or is that the Alligator Shirt,,,
Oh yes, the Sharks up North are Fierce!
Especially when you are the Only Bait In Town! (I was just singing that tune in my head,,, Thanks to Jimmy Buffet)
Hey Jimmy Buffet, I would like to meet you! I Like your music! I have been a fan since 1975,,, Stationed in Bermuda, US Navy!
I would like to find you your next home too,,,
Take my Wife,,,, Please,,,
If you would like to find some Great Deals, here in Sunny Florida, err, Paradise, be sure to click on the following URL's,,,, Links,,, umm, heck into my Web Sites below!
I need to make sure at least one item is fully defined in my previous post.
I had mentioned in my previous post: "If a seller qualifies for a Short Sale, then it doesn't matter how much is owed. "
A Seller REALLY Qualifies for a Short Sale if the Seller is DESTITUTE.
In other words, if the Seller Has, a Combination of, ANY OF THE FOLLOWING:
No Income AND has No Savings AND has No Other Resources, AND owes Unfathonable Amounts of Money, AND is able to Declare Bankruptcy in a New York Minute, AND it is not due to reasons of their own choosing,,,
BASICALLY if a Seller CANNOT Make A PAYMENT to any of THOSE THAT CAN FORECLOSE ON A PROPERTY,,,
Then that Seller Qualifies for a Short Sale.
This EXCLUDES those that "just don't want to make a payment because he/she has decided not to make a payment because the property's value is lower than what is owed on the property".
Those people have to get dirty. Their Credit Report Rating has to get WAY Low,,,low,,,,below low,,,low,,, Harmfully low!
If a person is digging Himself/Herself out of a Financial Hole that is so big that they can declare Bankruptcy, then they, too, are candidates for a Short Sale. A Bankruptcy is the HOLD/HOLE Card, the (donald)Trump Card, that makes the playing field even (But the cost will be FOR A LONG-TERMED Penalty)
THERE ARE MANY "big brother watching systems" SYSTEM IN THE USA THAT KEEPS TRACT OF ALL THAT GOES ON FINACIALLY. If you have to give a Social Security Account Number to the person on the other side of the Phone Conversation,,,, They have Access to the Big Brother Watching System.
We don't know about them. They exsist. I am not complaining about them. I too am a Capitalist.
TO THE POINT.... The Banks, The Lenders, The Investors, The Insurance Companies, The IRS, The HOA's, The County Tax Collectors, The ,,,,
Will Foreclose on a Property if the Foreclosure Activity will be in Their Best Interest or in their Client's Best Interest. They will not Foreclose on a property if the Foreclosure is not in their best interests, unless directed by some sort of irrational "Policy"!
They will Suffer. They will ask for/accept penneys on the dollar, just to release the lien on the property, otherwise, they CLOUD THE TITLE and the property (in more cases than not) will not be passed onto the next owner.
Each State, has it's own Foreclosure Laws. Those Laws will actually determine (directly, or indirectly) what each Lien Holder will do in a Foreclosure Situation.
By the way, I am not an Attorney or a CPA. Please contact your Attorney and CPA,,,
to verify all that is in this Transmittal.
Sincerely,
Steven P. Wood, Realtor Palm Coast Realty, Inc, 12300 Alt. A1A, Suite Palm Beach Gardens, Florida 33410
I have been a Real Estate Agent in Virginia Beach, Virginia for 3 years in the past. I have been a Real Estate Investor from 2001 to 2006 without being a Licensed Real Estate Agent. I know a lot about buying and selling homes, stopping foreclosures in a non-judicial foreclosure state, forbearance agreements, reinstating loans, short sales, dealing with the Loss Mitigation Department at Mortgage Companies/Banks, equity sharing, contracts for deeds, dealing with people in financial harships as well as people living the good-life.
I have invested in Residential (Single Family, Townhomes, and Condos), Multi-Family, and Commercial Properties. I know about Hard Money Loans, Bridge Loans, and how to work with Mortgage Lenders and can apply my knowledge to helping others with normal and creative financing.
I am a believer in holding Open Houses and creating flyers and other marketing tools to help sell homes. As an Investor, I have sold many of the homes, that I rehabbed, by myself, without the help of Real Estate Agents. When the market got tough, I enlisted the help of Real Estate agents.
I go out and view homes to become familiar with Inventory in order to help Buyers find what they are looking for in the least amount of time.
I am attentive, usually on time, and diligent. I return phone calls and listen to what people want. I used to be an ace computer programmer working on real-time applications and can handle tough and complex situations. I pay attention to the smallest of details.
I am Internet Savvy and am well versed in creating SQL Searches into the Multiple Listing Service for customers looking to buy homes. I have signed up with the House Values/Just Listed Company to find new prospects to help and when time permits, I will be fully integrated with most of the Real Estate Internet Sites!
I am honest. I am a member of The Board of Realtors (I am governed by a Strict Code of Ethics), and I am Licensed to sell real estate in Florida (governed by the State). I do not like to sugar-coat things. I am happiest when I have made a customer happy in achieving what they want or need.
I have relocated BACK to Florida and have been practicing Real Estate Sales and Rentals in Jupiter, Palm Beach Gardens, Juno Beach, and Tequesta since March 2007. My office is located with Illustrated Properties.
I believe in building Relationships where Clients trust me and want me to help them. I do not want to restrict Buyers with a Buyer's Brokerage Agreement, and my only request from my Buyer Clients is to honor that I am in business as a Real Estate Sales Agent and that I am only paid on commissions and that I only get commissions once the Buyer is happy and has obtained what they were looking for. I request from my Seller Clients a full understanding of what the market is doing and to respect the market such that if they want to sell their home (in this market) that they have to be in front of the negative curve and to be in front of the curve with the nicest home.
Areas of Expertise
Jupiter, Palm Beach Gardens, Juno Beach, Tequesta and surrouding areas. I am very familiar with the Short Sale process and can help over-extended Families and Investors either save their homes/equity or incrementally save their credit.
Be sure to tell me what you want to do with your home! Keep it? Sell it? Or, restart your life!
Testimonials
We wanted to express how much we enjoyed working with you during the purchase of our new home in Jupiter. It was great to have such a competent real estate agent looking out for our interest. You were so diligent in your search and always made your self available to fit our dificult schedules. Finding someone like you who has a Ritz Carlton customer service attitude is truley remarkable. We are in the process of moving in and we hope you stop by to see us the next time you are in the neighborhood. We wish you continued success and will highly recommend you the next time we hear of someone looking for a home.
Kind regards, Bob and Cindy
In this Real Estate Market,,, Anything goes!
If you want the facts... Look me up,,, Knock me up in England,,,,Email or Call me in most other areas,,,
I look forward to your call!
Steven P. Wood, Realtor Palm Coast Realty, Inc. 12300 Alt. A1A, Suite 209A Palm Beach Gardens, Florida 33410
SHORT SALE QUESTION - HOW MUCH IS OWED ON THE PROPERTY? How much can be negotiated on a Short Sale?
I am most curious about the first part of this question.
More than a couple of folks I have talked to about purchasing properties that required a "Short Sale" has asked "How much is owed?"
I cannot figure out why they are asking that question.
Can the folks here enlighten me?
If a seller qualifies for a Short Sale, then it doesn't matter how much is owed!!!
If the seller CANNOT MAKE PAYMENTS (to any of the following: HOA, Condo Association, IRS, County Taxes, 1st Mortgage Lien Holder, etc,) and hasn't made any payments for many months, then the OWNER(s) OF THE LIENS can possibly Foreclose on the property, or has to suffer quietly until the property is sold, and then, May or MAY NOT, be paid.
By definition, the "Short" in "Short Sale" means that the Market Value of the property is SHORT of what is Owed on the property. Be sure to understand the definition of "What is Owed On the Property".
At least One of the Lien Holders of all the Liens on the property is going to have to agree to take less (err, receive a Short payment on that which is owed) than what is owed.
Thank you for your collective responses,
To answer the 2nd question. The percentage that is negotiable depends on many items,
What will be Netted from the Short Sale as opposed to what will be Netted from a Foreclosure (ON THOSE THAT QUALIFY FOR A SHORT SALE) is one of the big ones. The WHO IS THE ONE FORECLOSING is another BIG one.
Be sure to consult with your Attorney and CPA before you enter into any Short Sale Purchase or List your Home as a Short Sale Listing! There is a lot of finger pointing going on!
And now for my Add-On... The market is turning,,, a slow turn,,,,be sure to get In On The Turn before Interest Rates turn UGLY! I invite Foreign Investors (European Investors, African Investors, Asian Investors, Middle Eastern Investors, South American Investors, etc.,) to come to Florida and CAPTURE ALL THE GREAT DEALS HERE!
Sincerely,
Steven P. Wood, Realtor Palm Coast Realty, Inc. Palm Beach Gardens, Florida 33410
I have just listed 2 Bank Owned Properties and I need to sell them fast! That is why I am posting this Blog.
The faster we sell the Bank Owned Properties, the faster We will Recover from this Real Estate Market Correction!
The faster we implement a "New Home Building Moratorium in the OVER-SUPPLIED Areas of Palm Beach County and Martin County and Broward County and Saint Lucie County, Florida", the faster, "WE" will Recover from this Real Estate Market Correction!
The 2 Bank Owned Properties that I have Listed are in Palm Beach County, Florida. Specifically, one is in the Town of Jupiter, Florida, and the other is in the Town of Riviera Beach, Florida!
These 2 Bank Owned Properties are priced aggressively. They are priced perfectly for folks that work for Palm Beach County! The Bank wants these Properties OFF Their Books!
I am calling on the Town of Jupiter and the Town of Riviera Beach to Help their Public Servants to get Affordable Housing.
I contribute to the Affordable Housing Program every time I renew my Auto License. I am hoping that these two Florida Towns will help their Loyal Servants and ask for money from the Affordable Housing Program, and contribute to their Public Servants' Livelyhood.
Nice Neighborhoods! The one in Riviera Beach is Gated In Thousand Oaks! The one in Jupiter, is in the lovely area of Jupiter Village!
No need to say these won't last. The Real Estate Investors are going to pick these off the tree before you can even see them! Be quick! If you work for the Palm Beach County Sheriff or Police Departments, The Palm Beach County Fire Department, The Palm Beach County School System, etc., call for an appointment!
The Calvary is coming! I have posted many alerts to my EU Friends! What is an EU Friend? That would be a "European Union" Friend!
If you would like to view either of these two properties in Palm Beach County, please send me an email with your Name and Phone Number and When you can view the properties.
Steven P. Wood, Realtor Palm Coast Realty, Inc. 12300 Alt. A1A, Suite 209A Palm Beach Gardens, Florida 33410
Do you play an instrument? Piano? Violin? Harp? Percussions? Saxophone? Guitar? Oboe? French Horn? Piccolo? Chellos?
Do you use instruments to create your art? Pencils, Brushes, Cameras, Chisels, Knifes, Soldering Irons, Blow Torches, Needles. Sewing Machines, Wrenches, Measuring Tapes?
Do you do Kitchen Arts? Food Arts? Presentation Arts?
How about Fitness Arts? Dancing Arts? Singing Arts?
What about Sculpturing? Concrete? Cabinetry? Wood?
Do you work in Antiques? Furniture? Design? or other Architectural Arts?
Is singing part of your act? Do you Act? Do you act up? Comedian? Juggler? Clown? Circus Act?
Do you want to be part of the New SOHO in South Florida? The New Warehouse District? The New Up and Coming Paradise? BE PART OF PARADISE! Scantily clad women and men, sweating while they make their art! Low Heating Costs! Great Tan Lines!
The environment and potential is here! The cost is right. The danger is here.
Snobs are not allowed.
Operas, Ballet, Symphonies, Galleries, etc! But they are down the street (as always).
Please respond to me,,,
Are you American? Are you from Europe? Asia? Are you from the Middle East? Russia? Japan? Africa? Are you from South America? North America? Central America? Mars? Jupiter, Florida? Or Venus?
The time is right, to invest in the American Marbella of Spain! The Euro is healthy. The dollar is struggling. Help the USA get out of this recession! The USA is not as bad as everyone thinks!!! We are staving off the radicals!
Fantastic Real Estate Investment Opportunities here! I will always speak my mind! Just listen to all I say!
Nobody here cares!
Just be licensed if you are into the home contracting arts!
Steven P. Wood, Realtor Palm Coast Realty, Inc. 12300 Alt. A1A, Suite 209A Palm Beach Gardens, Florida 33410
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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