estero: Your Credit Score May Drop - Mortgage by Randy newsletter - July 2008 - 07/22/08 12:44 AM
Mortgage by Randy
a monthly update to our clients, colleagues, family & friends
by: Randy Mitchelson, July 2008
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In This Issue We Touch On:
Unemployment, Inflation & Credit Score Drops on Perfect Payment Histories
We have to start this newsletter with a quick sidebar about my recent experience volunteering with … (0 comments)
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estero: New Communities offer great deals in Florida - 07/21/08 12:11 PM
http://www.AgentShield.com/ShieldTools/WidgetFrame.aspx?wid=954
Going from New Development to New Development is not an easy task, it can take a lot of time and be very frustrating. If you let me know what you are interested in I have the resources to target the best developments for you and your family.
Developers have … (0 comments)
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estero: What is a Short Sale? - 07/21/08 12:05 PM
Short sales are deals between borrowers and lenders to sell a house for less than what is owned on the mortgage. For the homeowner, short sales avert a foreclosure process. Short sales aren't perfect solutions for consumers they still reduce a credit score by 75 to 100 points and there are conditions … (0 comments)
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estero: 4667 Villa Capri Lane, Bonita Springs, Fl 34134 - 07/20/08 08:47 AM
… (3 comments)
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estero: 8567 Via Lungomare Circle #203, Estero, Florida 33928 - 07/20/08 08:31 AM
… (3 comments)
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estero: Downtown High Rise florida Projects that are 20-40% off original prices! - 07/17/08 01:57 PM
Click Here For a Video Outlining the Downtown Development
Fort Myers High-Rise Condos
The diverse high-rise condo market in Fort Myers provides a wide variety of choices to satisfy the housing desires of the most discriminating buyers. Ft. Myers high-rise condos are treasured by both full-time residents … (0 comments)
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estero: 35-40% discount on new luxury carriage homes in Fort Myers, FL - 07/17/08 01:47 PM
These incentives will not last long. Please contact me immediately to take advantage of this unbelievable opportunity. I just got word that they are building another golf course right across the street from this subdivision. This area is exploding with the fastest growing 4 … (0 comments)
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estero: Cash Flow Duplexes in Florida for under $100,000! What? - 07/17/08 01:19 PM
Cash Flow Duplexes in Lehigh Acres and Cape Coral, FL!
I don't know if you are aware of it, but you can buy duplexes, some of which are brand new, for under $100,000. These duplexes are located less than 10 minutes from shopping, entertainment, and an … (0 comments)
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estero: 50 Ways - 07/15/08 06:00 AM
There are 50 ways to do alot of things. Here's 50 ways to use social media.
There must be 50 ways to leave your lover, so said Paul Simon. There are probably just as many ways to do a real estate market report, too. Here’s how I do my monthly … (4 comments)
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estero: Mortgage by Randy newsletter June 2008 - 06/30/08 03:38 PM
June 17
Mortgage by Randy Newsletter - June 2008
Mortgage by Randy
a monthly update to our clients, colleagues, family & friends
by: Randy Mitchelson, June 2008
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In This Issue We Touch On:
Bank Troubles, Reverse Mortgages, Oil & Credit for Young Adults
Every week we receive … (0 comments)
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estero: Things are happening in Southwest Florida! - 06/24/08 07:55 PM
I don't care about the doom and gloom being perpetuated in the national media, cause I've got to tell ya;
Things are really happening in Southwest Florida!
No bout a dout it!
We've got first time homebuyers;
They're baaaaaaaack! and they're extremely happy, you've got to see the smiles at … (6 comments)
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estero: Who are these Consumers? - 06/24/08 07:15 PM
CNNMoney.com has an article today which states, "Economists should listen to consumers."
But,
Who are these consumers we should listen to?
There are 5000 of them and they were surveyed by The Conference Board, a well respected private business research group, so we're told. Personally I don't know anything about The Conference … (2 comments)
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estero: CAN THEY PROVE IT! - 06/23/08 08:59 AM
There's a really interesting phenomenon that I've heard mentioned several times in regards to the foreclosure process. Here it is;
Do the mortgage holders have a copy of the note and mortgage?
They may not! as crazy as that seems.
That raises the question can they prove that you owe the … (12 comments)
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estero: Southwest Florida real estate, homes, condos, villas. Opportunity awaits! - 06/21/08 11:49 AM
… (0 comments)
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estero: Showing Ft. Myers and Estero, Including Koreshan State Park - 06/20/08 10:40 AM
I'm off agiain today for showings. A very nice lady from Canada and her teenaged daughter, who wants her mom to buy a place where Kayaking is an amenity. Tennis, too. I showed her Luguna Lakes and Sail Harbour in Fort Myers yesterday. She loved Laguna Lakes and the whole complex is NICE.
… (2 comments)
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estero: Calusa Palms in Fort Myers--a Fantastic Buy!! - 06/18/08 05:21 PM
ys Looking for a pool home in a gated ommunity in Fort Myers? Here is an example of the almost ludicrously inexpensive home buys available in this area at this time. This home features 3 large bedroms, 2 full baths and nearly 1800 square feet of living space. The best part is … (0 comments)
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estero: Does my Buyer still Qualify? - 06/12/08 10:17 AM
Opps, the loan officer didn't lock the rate and the rates increased, does my buyer still qualify?
Well maybe, but maybe not!
In todays world of restricted quidelines a buyer who has an approval at 6.5% may lose that approval if the rate increases to 6.75%. We may not like it, … (4 comments)
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estero: Interest Rates, Pay Attention Now! - 06/12/08 09:56 AM
So, what's going on with rates? I checked the market first thing this morning and we were getting crushed.
Colin Barr, a senior writer for "Fortune," reports that the Fed has reversed its course. That fighting inflation is now its priority. That would mean that there will not be any … (10 comments)
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estero: Naples, Bonita Springs, Estero, In One Day - 06/12/08 08:57 AM
June 12, 2008
I took a bike ride through Estero, Bonita Springs, and Naples last Sunday morning. The weather was beautiful. Sunny with a breeze coming from the Gulf of Mexico. 90 balmy degrees. It was extremely pleasant. I took some pictures of the houses I passed, some of which were for sale. … (0 comments)
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estero: Earn up to 30% REFERRAL FEE for referring buyers or sellers in the SW Florida! - 06/04/08 08:49 PM
Dear Fellow Realtor,
Earn up to 30% REFERRAL FEE for referring buyers or sellers in the SW Florida!
I am a FULL SERVICE Realtor Let me put my experience, marketing and dedication to work for your referrals!
I would like the opportunity to talk with you and answer any questions you might have … (1 comments)
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estero: Beware! when purchasing a Condo - 06/04/08 11:14 AM
Why? you may ask?
Well in Southwest Florida, where I live, there are a lot of condo's and a couple areas of concern. As a lender the first question that I ask a buyer or a Realtor, in regards to the condo, is what is the investor ratio. Lenders feel, and the … (8 comments)
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estero: After Five - 06/03/08 07:18 AM
In my travels around Naples, Bonita Springs, and Estero happy hours, there is one that stands out. Bice´ in Coconut Point. Whoever makes up the marketing program is right on the money.
When I was living and playing in Manhattan, no matter where I roamed each evening, there was always a … (0 comments)
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estero: Why Southwest Florida? - 06/02/08 05:53 PM
When I was a teenager I used to vacation a lot in Miami Beach and Fort Lauderdale. I always had fun there but it never occured to me to think of living there. Compared to the culture and history found in Boston visiting Miami and Fort Lauderdale seemed like a trip to an … (0 comments)
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estero: This MUST be a misprint! - 05/29/08 02:26 PM
I had to run and get my glasses to make sure the headline said, what I thought it said.
CNNMoney.com 5/29/08
"Economy grows faster than first believed"
The first quarter growth rate was adjusted up from .6% to .9%. Okay so you don't think that this is a big deal. … (13 comments)
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estero: How come they NEVER call ME! - 05/27/08 10:09 AM
I'm 55 years old and I have never received a single phone call from anyone doing a consumer confidence survey. It has to be because I'm an optimist.
That's a rule;
Those conducting the Consumer Confidence Survey are not allowed to call anyone recognized as an Optimist.
How could they know … (8 comments)
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estero: NEWS FLORIDA! The Cape's Sizzling! - 05/24/08 08:01 AM
Just give it time and the market will cure itself.
Things are really COOKIN in Cape Coral.
The Bus Driver says, "the bottoms gone!" and many agree.
Rainer Scott Slocum, Florida Future Realty, tells me that lenders with foreclosures appear anxious to move those properties. That's a great sign.
His … (9 comments)
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estero: They Come and They Go. - 05/20/08 11:24 AM
I was riding around Naples and Bonita Springs yesterday and I was noticing how many businesses were closing their doors. The high season is over and if a business can't make it in season, why prolong the agony.
I was mostly interested in the restaurants that are gone, since that was … (0 comments)
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estero: Bowditch Point Beach Regional Park, Ft Myers Fl pictures - 05/18/08 04:51 PM
Bowditch Point Regional Park beach sits at the northern end of Estero Island just above Ft Myers Beach in Ft Myers, Florida.
Just keep driving and you can't miss it!
It is a peaceful 17 acres of beach park and preserve that sits … (0 comments)
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estero: Approvals, Tougher to get! - 05/13/08 07:26 AM
It's not just the more restrictive guidelienes, it's the excessive paperwork and the underwriting.
It use to be that you would get an AUS (automated underwriting system) approval upfront and away you'd go. You'd address the findings and the conditions, package the loan, and ship it off to the underwriter for … (12 comments)
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estero: Foreclosure Benefits - 05/06/08 07:43 AM
From Websters;
benefit anything contributing to improvement.
Once again this morning as I attempted to access some financial info, to see where interests are heading,one of my favorite sources CNNMoney.com leads with the following;
Bernanke: foreclosure woes require action, price declines have become one of the biggest contributors to high default rates
I agree to a … (4 comments)
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estero: Nesting in Estero Florida - 05/06/08 06:33 AM
Swans of Coconut Point There is a large lake with a water feature fountain between Coconut Point Mall and Tamiami Trail. While taking a shortcut from Rapallo I crossed the big wooden bridge by Hemingway’s and Moe’s and saw this lovely swan keeping house. She’s on the south side of … (9 comments)
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estero: Lewis Team Real Estate Listings Near Hot, New Angelina's Ristorante Restaurant - 05/04/08 07:04 AM
Angelina's Ristorante opened April 16 and the trend setters pack it every evening for elegant, classy Italian fine dining. The ambiance, food quality and service have set a new standard for the Estero and Bonita Springs restaurant scene - and what a scene it is!! In the three mile stretch off US … (0 comments)
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estero: What's Happening in Southwest Florida - 05/03/08 07:15 PM
I can't ever remember being in a market that has the characteristics that exist currently in southwest Florida. There are some things going on here that make it so, if you're not physically here you cannot truly understand our market.
In order to truly understand the market here you have to be … (8 comments)
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estero: You Just CAN'T Have It Both Ways! - 04/29/08 04:40 PM
For months I've been watching the national media bash lenders and brokers for their irresponsible behavior in offering "subprime" and "exotic" mortgages. The articles would go on about how the innocent borrowers were totally taken advantage of by the unscrupulous mortgage lenders, and their compatriots the mortgage brokers.
All this time, however, … (6 comments)
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estero: Ask me a question on LTV appraisals and values and discounts - 04/29/08 12:56 PM
Ask me a question
on Value's - appraisals .
We see alot these days of home sold at 65% of LTV
do you know what that means?
Mike Rivera
… (2 comments)
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estero: TRULY ABSURD!!! - 04/28/08 11:13 AM
Webster's
absurd ridiculous
If it wasn't so sad I'd die laughing. I also kept on thinking that the article must be satirical, but it's not.
CNNMoney.com staff writer Les Christie recently wrote an article entitled "Good credit can't protect borrowers from bad loans." Maybe the real issue is can borrowers protect themselves from, well … (9 comments)
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estero: No Wonder He's Still Grinning! - 04/26/08 08:48 AM
Have you ever seen pictures of someone grinning that just made you feel uneasy. Kinda like they looked like they were trying to smile, but just couldn't get there. Kinda like there was something maybe evil hidden behind the grin, or maybe you were being laughed at, and it was being … (14 comments)
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estero: Something's Happening in Cape Coral, Florida - 04/24/08 10:48 AM
We've been trying to keep it a secret, and we've been getting a lot of help from the national and local media, but the markets making a move in the Cape.
Please, don't tell anyone.
Our pending sales are up dramatically.
Shhh!
And,
There's a remarkable pickup in the number of cash transactions. I'm a … (6 comments)
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estero: The Bus Driver Rocks Cape Coral (and Lee County)! - 04/23/08 09:41 AM
I live and work in Cape Coral, which is part of Lee County. For months I've read about doom and gloom from the national and local media, although the local media is starting to come around, as they cannot ignore the market improvement. While we're not the largest city in Florida, … (7 comments)
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estero: Fortune 500's biggest winners, SURPRISE!SURPRISE!SURPRISE! - 04/23/08 09:18 AM
Okay, if you want to find this type of information sometimes you have to dig for it. Hidden in the bowels of CNNfn Money.com is the data about the Fortune 500's biggest winners, meaning profit makers, for 2007.
Now, there can't possibly be any banking type institutions, right?
Well, not so fast. it appears … (3 comments)
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estero: Meadowbrook For Sale Bonita Springs - 04/16/08 03:14 PM
This is the lowest priced and best deal in Meadowbrook. At $299,000 this home is priced less than homes with no view and without swimming pools. This is an amazing deal!
This home has a beautiful long lake view over a large pool and screened lanai. Walk-in closets, linen closet, dual sinks in master and … (0 comments)
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estero: Market indicators; Closed versus Pending Sales - 04/13/08 03:13 PM
It's got to be a no brainer! Closed sales are just that closed sales, and can be the only true indicator as to what's going on in your market.
Well, not so fast!
While we all know that not all pending sales will close, the information is fresh, and therefore is a better … (13 comments)
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estero: I've solved the subprime mess! - 04/13/08 02:42 PM
My solution is composed of two parts;
The first part is to ban any/all articles that even mention subprime loans or hint that they are mentioning subprime loans by any/all media sources. This ban will be for a minimum of 1 year, but may be extended.
The thinking here is two fold;
First: … (12 comments)
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estero: Paradise in Bonita, Estero Fl - 04/12/08 08:24 PM
Today is Saturday and I decided to take a break from real estate. Every once in awhile it does a brain good to take a mental holiday. Today was a very relaxing day. I got up kind of late and took the dog for a really long walk around Bella Terra. There … (0 comments)
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estero: Latest Market Statistics for Bonita Springs & Estero Florida - 04/10/08 07:45 PM
Below is the latest market statistics for the Bonita Springs & Estero Florida marketplace. These statistics are taken directly from the Sunshine MLS system.
Notice the latest numbers give reason to be moderately excited for the first time in many, many months. The % of homes sold has increased for the … (5 comments)
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estero: 10869 Sea Coral Court Bonita Springs Florida 34134 - 04/07/08 04:02 PM
How many times have you heard a client say that they are tired of paying high monthly home owner's fees and being told what they can do? Southwest Florida has become synonymous with gated communities, but it is a lifestyle choice and maybe not for everyone.
Consider this lovely single family home … (1 comments)
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estero: 21589 Windham Run, Estero, Fl 33928 - 04/07/08 03:21 PM
This Stoneybrook short sale will be worth much more than the price that is paid for it.
Like many properties, the price will be based on an appraisal that is compared to wholesale car prices and retail car prices. If you have the right real estate agent, you will get … (1 comments)
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estero: Benefits of Hiring Contracted Assistant - 04/03/08 11:27 AM
I have to tell you about my experience of contracting with a local assistant. WOW! Why didn't I think of this sooner? She is extremely well versed in Real Estate, knows the paperwork and processes involved and takes the ball and runs with it. The details that I just didn't have … (8 comments)
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estero: FHA! Better! Better! Best! - 04/01/08 09:33 AM
It's an FHA market for those that qualify. Despite more restrictive guidelines, which the market feels necessary, FHA is THE way to go.
If you have low/no downpayment needs;
Well the courts ruled in Amerifund's favor and the downpayment assistance program is alive and well.
Low credit scores;
Well while the market is attempting to … (2 comments)
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estero: Necessary Evil? Opportunity? or just Greed? - 04/01/08 08:42 AM
I'm sitting here with the FNMA "New Flow Business Pricing Requirements," announced on March 6th and effective June 1st, which essentially means that lenders will start adhering to these guidelines now.
Frankly, as I review the charts I'm shaking my head in disbelief.
First, is this just a necessary evil?
Does FNMA need to … (6 comments)
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estero: Bonita Springs Real Estate | Outside of the Box and Under a Sandwich Board - 03/31/08 03:23 PM
Condos For Sale in Rapallo
Last week I had one of my listings host the company breakfast at Keller Williams Realty in Bonita Springs, Florida. I figured I’d have a room full of real estate agents learn about my cute little Spring Run condo listing while filling their bellies with bagels and … (9 comments)
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estero: Somebody explain this to me! - 03/28/08 08:11 AM
Fortune magazine (online) headline by author Colin Barr.
"Big Check for Countrywide Exec."
Before I even began reading the article the following thought immediately popped into my mind:
WHY?
B of A will pay CW's #2 man, President David Sambol, $28 million in cash and stock if he sticks around for 3 years.
Why, why, why, … (17 comments)
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estero: Our National Media: You Gotta Love em! - 03/25/08 12:11 PM
Open to CNNMoney today and at the top of the page you will see (at this time 12:40) the following Bold Headline;
Home Prices Down Record 11%
Clink on this and open, and you will find the following:
Home prices post another record decline
The residential real estate market continues to deteriorate in 2008, with … (6 comments)
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estero: The Reserve at Pelican Landing - Furnished, Immediate Occupancy $1400 monthly - 03/25/08 07:15 AM
2 bedrooms plus a den, 2 baths, garage on the first floor overlooking the Golf Course. Click on the link for a Visual Tour of this home - http://www.visualtour.com/shownp.asp?T=1299223
Chris Casmirri Broker Associate Keller Williams Elite Realty 24851 S. Tamiami Trail #1 Bonita Springs, FL 34134 Direct: 239-707-0728 Fax: 239-498-5900 Email: … (0 comments)
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estero: FHA/Conventional loans-where are we? - 03/24/08 12:29 PM
Okay, so to start off with, we have your good olde conventional loans, well not exactly. I'm in Southwest Florida, so we have reduced LTV's, with more restrictive guidelines. PMI doesn't like us much, and is resistent to insure our loans, if they'll insure them at all.
FNMA & FHLMC have gone … (3 comments)
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estero: Are Subprime loans making a comeback? - 03/23/08 10:15 AM
This past week I received three different contacts from "subprime" lenders looking for new business.
I told the national sales manager of the first company that called that I didn't know what a subprime loan is. He stated that they were looking for FHA near misses. But unless he has a … (11 comments)
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estero: Twisted Thinking? - 03/19/08 08:23 AM
James Cooper has written an article in Business Week entitled, " It sure looks like a recession." The media loves this word, RECESSION! It's one of the words which can strike fear in an individual, so let's use it as often as possible. It's great for sales!
Once again, a recession by … (5 comments)
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estero: Capitulation- analogy & meaning. In response to my Knife Blog_Mike Rivera - 03/18/08 01:04 PM
In response to my Knife blog
From: Mary Ann Nietz And Amber Grice
Not trying to say there is not a deal out there.. But i think this article has some good points to consider.. Everyone has an opinion about the market.. so far mine is how long did it take to come back after … (0 comments)
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estero: FEAR!!! - 03/18/08 08:00 AM
Finally, it's out in the open. In a CNNMoney.com article this morning entitled "Why the Fed can't put out the fire," David Wyss, Standard & Poor's chief economist let's the cat out of the bag.
In regards to the Fed's actions he says, "It doesn't adress the fundamenatl problems, which is that the … (6 comments)
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estero: Chairman Bernanke-Mortgage Underwriter? - 03/17/08 09:37 AM
I waited a few days after reading a CNNMoney.com article entitled "Bernanke outlines mortgage help plan-Fed chief says central bank "strongly committed to easing mortgage crisis," to see if it still struck me as being so odd that the Fed wanted to venture into the world of "mortgage underwriting."
While I'm happy … (6 comments)
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estero: Stated/No Income Verification Loans-They've been around forever! - 03/17/08 08:31 AM
From a historical perspective Stated/No income verification loans have been around forever. However, we may have not called them that. For you newbees you may not remember the good old "loan committes" at your local bank. Back in those days we did something called portfolio loans.
So what is a "portfolio loan?"
Essentially … (8 comments)
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estero: Fed's Answer-throw $200 Billion at it! (and see if it goes away) - 03/11/08 11:14 AM
In an effort to increase liquidity the Fed is initiating a program to make available $200 Billion in funds to primary dealers, that would be large investment firms which deal directly with the Fed. Seems like some serious change to me.
The big question is will it help?
On the surface you … (6 comments)
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estero: Condo and Homeowner Associations - HOAs, POAs, fees... what's this all about? - 03/11/08 09:01 AM
In Florida property ownership whether single family standalone homes or multi-unit villas and condos will usually come with a required membership in an association or even multiple associations. In the least, the property is likely to be in a deed restricted community.
While showing property recently, I discovered that everyone is not … (0 comments)
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estero: SURPRISE!, the Fed can't fix it! - 03/11/08 08:21 AM
There's a nice article on CNNMoney.com today about the results of the Fed's cuts, or the lack thereof, which began about 6 months ago. The first and most major flaw, in my opinion, is that they are trying to compare the results with those of previous rate cuts dating back to … (12 comments)
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estero: Florida Bargains You Won't Believe! - 03/09/08 05:02 PM
Last week I wrote in general terms about the truly amazing opportunity that exists now in Southwest Florida to purchase real estate at bargain basement prices. Now I want to get more specific and give you some actual examples
For example, it is possible to puchase a decent condominium in Fort Myers for … (0 comments)
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estero: The Right People in Southwest Florida - 03/09/08 03:04 PM
My father always said you meet the right people playing golf and bridge. At the time he said this I was a rebellious sixties-era teenager who thought his remarks smacked of elitism and snobbery. I carefully eschewed both pursuits. Now that I am a lot older and a little bit wiser , … (0 comments)
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estero: Something we haven't seen in a while... - 03/08/08 08:06 AM
...some "good" real estate news in the press. By good, in this case, I mean any article that is not all doom and gloom and indicates that there is light at the end of the tunnel just maybe we're beginning to see it now. At least in southwest Florida - Naples, … (0 comments)
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estero: Southwest Florida Pre-foreclosure and Short Sale Listings - 03/04/08 08:10 PM
With the winter season in southwest Florida and the buyer's market, we are seeing a lot of activity. Many folks from "up north" who have been thinking about properties for awhile now are getting serious as this just may be the right time. This is particularly true when they were priced … (0 comments)
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estero: Home (NO) Equity Loans Shutdown - 02/26/08 09:28 AM
The guidelines for new home equity lines don't bear any striking resemblance to what we have seen in the recent past, and the guidelines for the existing lines are changing as fast as you can say ouch! I must say though this looks like prudent behavior to me.
New equity lines are going … (4 comments)
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estero: Let's hear it! LOUD & PROUD! - 02/26/08 07:35 AM
I don't know about you, but it seems all I keep seeing are articles about doom and gloom. There's foreclosures, a lack of sales, credit crisis, subprime problems, and so on, and son on, and so on. There is just absolutely nothing positive going on in the marketplace today.
I have a … (4 comments)
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estero: Engine Show Koreshan Park - 02/26/08 07:32 AM
The annual Engine show at Koreshan Park Estero Florida is coming March 15th and 16th. The park is already full for camping but it is worth the day trip to check out the very interesting things you will see here. Last year they had a steam car. It was incredible and we got a … (0 comments)
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estero: Lender Works The Pole To Lower Your Housepayment - 02/24/08 02:07 PM
If this deal is so good, why are so many passing it up?
Same handwriting, new angle. This isn't as juicy sounding as "Sneaky ways to lower your house payment" but it was cluttering up the same pole. (Corner of Three Oaks Parkway and Corkscrew Road)
If you're REALLY looking for a … (1 comments)
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estero: See You at the Academy Awards!....... in Ft. Myers, FL!?! - 02/24/08 12:07 PM
It's time for realtors to think out side the box!!! This market is only for the strong-willed, good hearted, adventurous Realtors. Would Indiana Jones (Harrison Ford) refuse an open house? Would Jessica Alba refuse to get in touch with her fans?.....oops! I'm a major movie fan and I was getting carried … (2 comments)
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estero: Tropical Tails - 02/23/08 06:15 PM
Today I participated in Tropical Tales a Pet Extravaganza in Estero Florida At Coconut Point. It was a great deal of fun and although a bit windy and I did get a little too much sun there were great vendors, pets galore, and I was able to share many " … (2 comments)
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estero: SHOWING OFF your Home Staging talents--Your PHOTO GALLERY! - 02/22/08 10:13 AM
Whenever I have the opportunity to view a Home Stager's site, I must confess...rarely do I read the site text; instead, I immediately look for my favorite page--the Photo Gallery!! I CLICK on the link button and wait. While it is uploading, I watch with eagerness and excitement! What level of creative talent will … (44 comments)
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estero: Debt Ratios; How High is TOO High? - 02/20/08 07:57 AM
I was reading an article online this morning about subprime loans that were defaulting before the rates reset. They quoted analyst Michael Youngblood of Freidman, Billings, and Ramsey as being shocked by this fact. I guess we were to believe that Friedman, and whomever were some sort of experts in regards to … (24 comments)
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estero: Why Your Bonita Springs Home is NOT Selling - 02/18/08 02:45 PM
Today I will be out with a lovely couple from Wisconsin looking for their Florida home. I try to stay upbeat and not hyper critical of what other agents consider "marketing" but it's a nightmare, plain and simple. It is literally a struggle for me to show your Bonita Springs home. … (7 comments)
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estero: I Don't Make Enough Money! - 02/18/08 06:52 AM
While the Presidential candidates and the Congress are throwing around bailout plans like there's no tomorrow, there's a problem for many homeowners, which they can't fix. The real problem is;
I don't make enough money!
These homeowners fall into many different categories, but let's just check out a few.
I NEVER made enough money … (16 comments)
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estero: FHA Limit Increases, Are the Loans Saleable? - 02/16/08 09:57 AM
Well, are they?
Don't know yet.
BUT:
There appears to already be some resistance to Fannie's and Freddie's increases, feel free to read "Fannie & Freddie Get the Cold Shoulder."
Larger FHA loans with low or no out of pocket investment may not be saleable, even with the FHA insurance. Investors have been burnt in … (5 comments)
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estero: Fannie & Freddie Get the Cold Shoulder! - 02/16/08 09:33 AM
Fannie & Freddie's loan limits are increasing!
This should help! Yea!
Hold on for just a minute now. Things may not be quite that rosy.
CNNMoney.com reports that the Securities Industry and Financial Markets Association said that the larger loans, above the previous $417,000, will not be allowed on the "To Be Announced" market, … (3 comments)
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estero: And Then, REALITY Sank In! - 02/14/08 08:58 AM
I was reading an article this morning by Les Christie of CNNMoney.com entitled, "Hope Now: When loan workouts don't work out." I think the article points out the naivete' of the writer in that it appears for some reason the writer felt that more/most of the workouts should work.
Why would someone … (2 comments)
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estero: Why are Canadians Buying Bonita Springs Real Estate? - 02/13/08 06:11 AM
National Association of Realtors has released statistics in a study that show that about one in five American real estate agents sold a second home in the year 2007 to a foreign buyer. Interest is up primarily due to
The weak dollar giving foreigners more buying leverage. American home prices are … (2 comments)
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estero: I'm Walkin, Not Payin! - 02/09/08 10:36 AM
I have never seen this phenomenon as prevalent in the marketplace as it is today.
Many homeowners are just packin' it in and abandoning their property.
WOW!
From my point of view we have two distinct categoies.
We have the homeowners, and we have the houseowners, those who bought houses for investments. I do hope you … (48 comments)
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estero: FHA (Loans) CRUSHING Conventional Financing! - 02/08/08 10:24 AM
For comperable loans, within FHA loan limits, the FHA advantage in regards to rates, quidelines, and attitudes is overwhelming.
Check this out!
Rates;
Since fannie/freddie, and essentially all conforming lenders, have gone to the tiered pricing the FHA rates for scores between 620 and 679 look better and better. No hits with FHA! The … (24 comments)
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estero: Oh NO! Good News, Quick Hide it Somewhere. - 02/06/08 09:18 AM
Bury it on the back pages! Delete the articles! Quick do something!
Okay last week I saw the manufacturing index move over 50. That's an indication of growth. opps!
Oil prices today once again are lower. They have slipped under $90 barrel, actually closer to $87. I noticed this when I filled up … (13 comments)
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estero: Advertising Interest Rates, I Can't/Won't Do It! - 02/06/08 08:41 AM
I'm not going to go as far as to say it's not ethical, but I cannot in good conscience engage in advertising interest rates.
Here's a couple of reasons why.
If I quote you a rate Right Now! unless I have an application in hand, and can lock that rate it doesn't mean … (11 comments)
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estero: Candidate's (Mortgage) Promises! - 02/06/08 07:38 AM
If you're like me you're watching the primaries with great interest. This year there seems to be a greater deal of excitement, and I think that that is a good thing. In my opinion everyone should vote. Please don't take this right for granted. There are many people, in many countries, … (7 comments)
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estero: Credit Consequences of Short Sales - 02/05/08 05:40 AM
What are, or what will be the credit consequences of "short sales?"
There seems to be some assumption, in regards to short sales, that the seller's credit rating will not be adversely affected or that the affect will be minimal. After all the mortgage holder has agreed to accept the balance at … (18 comments)
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estero: Different Bottoms - 02/02/08 06:09 AM
Where is the bottom? Are we there yet?
Which one?
I live in Southwest Florida which many feel is an area of declining market values. The lender/investors certainly act that way. However, some think we may have hit the bottom.
Well, I don't think it's quite that easy, or all inclusive.
Take property types for … (7 comments)
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estero: Sellers Waiting for Market to Hit it's Peak! - 02/01/08 08:18 AM
There were many sellers a few years ago who wanted to sell, but didn't want to list their homes until the market peaked. When it looked as if the market had peaked and started to decline, they still didn't list their homes, as they were waiting for it to adjust and … (17 comments)
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estero: Applying Pressure or CRYING OUT FOR HELP! - 01/30/08 09:08 AM
Recently CNNMoney.com's editor Paul R. La Monica wrote an article stating that it was time for Chairman Bernanke to "Man Up." The article's content centered around the premiss that the chairman was not tough enough and was giving in to market pressures to lower rates, and provide more, easier, and less expensive money. … (4 comments)
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estero: The Fed is Coming! The Fed is coming! - 01/28/08 09:49 AM
AREN'T THEY?
CNNMoney.com editor Paul R. La Monica writes it's "Time for Bernacke to 'man up.' "I don't believe he's actually challenging the Fed Chairman's manhood, but rather his toughness. The gist of Editor La Monica's comments are that the markets are pushing the Fed hard for lower rates and that the Fed … (11 comments)
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estero: EXTREMISM!!! - 01/25/08 07:05 PM
Actually, I'm interested in mortgage extremism, and does, or when does, extremism create balance? Sounds like heavy philosophical stuff.
Not Really!
Webster's again;
Extremism going to an extreme (oh really-my addition); very great, excessive.
Okay, we've gone from mortgages, which were exremely easy to acquire, to ones that are becoming extremely difficult.
Now, did … (7 comments)
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estero: Why Money's So Tough to Get! - 01/25/08 06:32 PM
I was just reading a blog which mentioned that money had gotten tougher to get. I thought about that for a moment.
WHY WOULD THAT BE?
DA!
It couldn't have possibly gotten any easier!!!
If you were a loan officer/broker you didn't need to have a great deal of knowledge. You really just needed to … (4 comments)
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estero: Bank Failures Galore! - 01/23/08 07:01 AM
Please excuse me for using a technique that I've learned from the national media. That is, get that headline that draws attention, even if it isn't supported by the articles content.
I was reading an article from Fortune posted on CNNMoney.com entitled "Banks are down, but not yet out," and it … (8 comments)
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estero: FED Rate Cut! Good thing? Bad Thing? - 01/22/08 09:15 AM
Okay, I thought we might need a shock to the system and here it is. A 3/4% intermeeting rate cut IS a Big deal. This is the first intermeeting cut since 2001. BUT is it a good thing? or is it a bad thing?
Initially the stock market opened with a big sell off, … (10 comments)
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estero: Emotional WORDS! - 01/21/08 02:45 PM
Emotion; strong feeling as of love,fear,anger, etc.
I've always wondered how much "emotion" played in the purchase and/or sale of a piece of property. I'm sure most experienced Realtors can tell you about sellers who thought their home had a certain value, well because it was theirs. The old it's worth more … (5 comments)
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estero: Recession-by definition - 01/18/08 10:51 AM
We're in a recession, we're not in a recession, we are going into recession, we might go into a recession. So where are we, and where are we headed?
I saw Chairman Bernanke on TV the other night and he said that we are headed for a period of reduced growth. Okay, … (6 comments)
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estero: The Head Shakers! - 01/18/08 07:04 AM
There's a new field in the real estate industry, it's the "head shakers." They used to be called appraisers, but that was a while ago. I had one in my office yesterday, he's a great guy, and I've known him for years.
I asked him how business was, and he just shook … (9 comments)
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estero: It's a shame! - 01/18/08 06:44 AM
I'm in Southwest Florida, an area which has been hit hard by declining market values, and I basically don't do refinances. Not because I wouldn't, mind you, but because many/most homeowners don't have any equity.
There are two basic groups who have a problem. The first I don't have any sympathy for, but the … (7 comments)
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