Stephanie's Blog

Demand for smaller homes grows

Stephanie LeFew (Tampa Home Buy Realty) — Tue, 01 Dec 2009 18:05:57 -0600

Census Bureau data shows that the median size of a new single-family home in the United States shrank to 2,215 square feet in 2008 from 2,277 square feet the year before.

The change represents the first decrease in median size in almost 14 years, as single-family housing had been growing larger on a consistent basis since 1991.

Many people are opting for smaller homes as many are being more conservative in their spending, being somewhat influenced probably by the stock market, retirement concerns, etc.

Part of the reason for this shift is also because the sales market is being driven largely by first-time homebuyers, who lean toward townhouses and other smaller properties. Moreover, many of today's consumers see smaller homes as a good fit with their environmental and ecological values.

In response to the trend toward less space, nearly nine of 10 builders polled by the National Association of Home Builders are erecting smaller units. This is a smart decision. Home builders are keeping their finger on the pulse of the spending habits and concerns of consumers.

Please let me know how I can assist you in your desire for home ownership in the Tampa Bay area in sun shiny Florida.

Warmly,
Stephanie LeFew
Tampa Home Buy Realty
www.TampaHomeBuy.com
813-624-3332 cellular
813-991-1355 office
Tampa Realtors selling homes in Hillsborough, Pasco, Pinellas and Hernando Counties

Dancing with the Stars...just in case you missed it!! :) Donny Osmond and Kym Johnson are this year's winners on Dancing with the Stars on ABC

Stephanie LeFew (Tampa Home Buy Realty) — Tue, 01 Dec 2009 18:03:00 -0600

What an Exciting Season of Dancing with the Stars!!

Donny Osmond was my favorite all this season on Dancing with the Stars! I am so excited for him and his family. He worked so hard and had such a wonderful attitude during the competition. Kym was excellent in her choreography. It was very exciting. He also has such a fan base. Kelly Osbourne and Mya were super terrific also. It was really close with Mya and Donny.

Warmly,
Stephanie LeFew
Tampa Home Buy Realty
www.TampaHomeBuy.com
813-624-3332 cell
Tampa Real Estate for Sale at Reduced Prices!
Oh what a time to be a home buyer in Tampa Florida!
Buyer Incentives available to my exclusive home buyers...
My services are FREE to Buyers! I can't wait to hear from you

11/23/09 - Dancing with the Stars Finals Tonight at 8 pm!!

Stephanie LeFew (Tampa Home Buy Realty) — Mon, 23 Nov 2009 11:36:57 -0600

We were extremely surprised when Joanna Krupa went home last week, as she and Derek had done so well in the past few weeks.

Tonight the three remaining couples are Donny Osmond and Kym Johnson, Mya and Dmitry Chaplin, and Kelly Osbourne and Louis Van Amstel. Hopefully Ozzy Osbourne and Sharon Osbourne will be there to cheer on Kelly; I really home Marie Osmond will also be there as a support to Donny. It would be nice to see both of Mya's parents there also.

I think Mya will probably win, unless something goes terribly wrong. I really like her, however Donny and Kelly both have such cute personalities. After Joanna losing last week, being so very talented and getting such high scores, it's anyone's guess who will take home the trophy.

See you on the coach tonight at 8.

Warmly,
Stephanie LeFew
Awesome Tampa FL Real Estate Agent
www.TampaHomeBuy.com
Tampa Home Buy Realty
991-1355 office
624-3332 cell

Tax-credit extension renews buyer interest in buying a home

Stephanie LeFew (Tampa Home Buy Realty) — Tue, 17 Nov 2009 16:27:16 -0600

TAMPA, Fla. - Nov. 17, 2009 - Real estate agent Ken Brownlee's phone stopped ringing last month once clients figured they would be unable to close before an $8,000 federal tax credit expired.

Most of his buyers were first-timers looking for a sweet deal on a short sale or foreclosed home.

"They all want to grab a deal," said Brownlee, an agent with Keller Williams.

Those buyers now have another chance since Congress extended the program earlier this month. Real estate agents say it could mean a boon for sales.

First-time buyers can get a credit up to $8,000 and other buyers are eligible for a credit of $6,500, as long as they've lived in their home for at least five years. Congress also expanded it to include some buyers who already own homes.

Business picked up immediately, Brownlee said.

"As soon as it passed, I started to get a lot more phone calls and website hits on my listings," he said. "This tax credit will likely carry us through the normally slow season."

That's good news for the Bay area's fragile housing market. As the area continues to see improvement in home sales, real estate agents say the tax credit is essential in selling off inventory. Home prices have plummeted and that has enticed buyers to act, but many are still on the sidelines.

Home sales in the Tampa-St. Petersburg-Clearwater area increased 20 percent in the third quarter, which ended Sept. 30. Experts credit the increase mainly to first-time buyers trying to take advantage of the tax credit.

There were 7,795 sales in the quarter, up from 6,502 during the same period a year ago, according to the Florida Association of Realtors. At the same time, the median sales price fell 17 percent to $140,400.

One reason is that so many people feel stuck in their homes. They want to take advantage of deep discounts, but they have to sell their existing home in order to move up. With nearly half of Tampa Bay's homeowners owing more than their home is worth, many can't afford to move.

That's why the tax credit will help, said Stephanie LeFew, a real estate agent with Tampa Home Buy Realty. She's had a number of clients decide to stay in their homes because they couldn't sell for enough to make a move worth it.

"For some people, the credit will be just enough of a boost," she said.

Mike Larson, an analyst with Weiss Research, said home sales would likely continue to improve, even without the tax credit. Even so, he expects the credit to lure more people into the market.

"The credit is the icing on the cake, not the cake itself," he said. "What's really leading to improvement is that homes are affordable again. If you throw an expanded credit into a market that already has good fundamentals, the market will respond."

To take advantage of the credit, a prospective buyer's home has to be under contract by April 30 and the deal must close by June 30.

Copyright © 2009 Tampa Tribune, Fla., Shannon Behnken. Distributed by McClatchy-Tribune Information Services

Please let me know how I can help YOU attain your dream of home ownership. Call me on my cell phone please.

Warmly,

Stephanie LeFew

Tampa Home Buy Realty

www.TampaHomeBuy.com

stephanie@tampahomebuy.com

813-624-3332

Homeschooling Can Work into Your Work Schedule

Stephanie LeFew (Tampa Home Buy Realty) — Mon, 16 Nov 2009 15:05:04 -0600

When my husband and I were seriously dating we had visited a home where the mother had a regular school room set up in her home, I got very excited. I always wanted to have children and the thought of home schooling them really excited me. My husband agreed. We were married.

When our daughter was born I quit my regular full time job at a bank and came
home to raise both of our children. Now that my income was gone, my husband and I wondered what would replace my income. We were living in our modest townhome and kept our expenses low.

The Lord led us into real estate. We began learning about shortsales and worked together in the field. I then took a class and got my real estate license in 2002. This year I took another real estate class and got my Real Estate Broker's license and started my own realty, Tampa Home Buy Realty.

Amongst all that we do, we have learned what works best for us in working in our children's learning which is so very important.

In the morning, I get the kids fed and start them off with their spelling, and then onward towards literature, history, science, math and Bible study. During the day if I have showings scheduled or need to talk with customers I do that in between their lessons. It all gets done, and done well.

I am really excited at how this year is going!

Have a wonderful day of learning!

Warmly,
Stephanie LeFew
Real Estate Sold in Tampa Bay Florida
www.TampaHomeBuy.com
Awesome Realtor, at your service :)
813-624-3332

Tax Credit for Current Homeowners - Move Up Tax Break signed into law by President Obama

Stephanie LeFew (Tampa Home Buy Realty) — Fri, 13 Nov 2009 16:44:35 -0600

President Obama signs into law -- Current homeowner tax credit:

An existing homeowner who purchases a home may now claim a tax credit of up to $6,500. To qualify, that owner must have owned and used the same residence as a principal residence for any consecutive five-year period in the previous eight years.

· This new tax credit is effective immediately. Eligible homebuyers do not have to wait until Dec. 1 to close in order to qualify.

· Personal income limits, maximum home value, and contract/closing deadlines are the same as those for first-time homebuyers - Here is what is what is in place for First time home buyers :income limits rise to $125,000 for singles and $225,000 for married couples; up from limits effective through Nov. 30 of $75,000 for singles and $150,000 for married couples. The tax credit phases out incrementally at each $20,000 increase in income. Effective immediately: The maximum home value purchased cannot exceed $800,000. Prior to the law being signed, first-time homebuyers had no limitation on a home's cost.

Long-time Florida homeowners who enjoy discounted property taxes resulting from the state's Save Our Homes amendment qualify for property tax portability.

Considering a move up? Call me about current real estate for sale in your favorite neighborhoods.

Warmly,

Stephanie LeFew

Tampa Home Buy Realty

www.TampaHomeBuy.com

813-623-3332 cell / 813-991-1355 office

stephanie@tampahomebuy.com

Buyer Incentives Available! My Services are FREE to Buyers

Homebuyer Tax Credit Extended into 2010

Stephanie LeFew (Tampa Home Buy Realty) — Fri, 13 Nov 2009 15:55:56 -0600

First Time Homebuyer Tax Credit of 2009 has been extended into 2010.

Most details for first-time homebuyers mirror the rules currently in existence. The maximum tax credit remains $8,000 ($4,000 for married individuals filing separately), and anyone who has not owned a home within three years is considered a "first-time buyer."

· A purchase must be under contract by April 30, 2010.

· A purchase under contract by April 30 must close no later than June 30, 2010.

· After Dec. 1, 2009, income limits rise to $125,000 for singles and $225,000 for married couples; up from limits effective through Nov. 30 of $75,000 for singles and $150,000 for married couples. The tax credit phases out incrementally at each $20,000 increase in income.

· Effective immediately: The maximum home value purchased cannot exceed $800,000. Prior to the law being signed, first-time homebuyers had no limitation on a home's cost.

This is wonderful news for those that needed a little extra time in getting ready to purchase a home.

With Tampa Real Estate prices so low, as well as very favorable mortgages with low interest rates, and the extension of the Homebuyer Tax Credit, all indications are that now is the best time to take advantage of the market conditions before home prices rise.

There are also 100% Financing Available in some large areas in Tampa Bay Florida. Other options are 97 1/2% FHA Financing, as well as 100% Financing on VA Loans. Your closing costs can be rolled into your loan or paid by the seller. It's a Win Win Win situation.

Please let me know if there is any way that I can assist you in finding a home of your very own so that you can personally attain Your Dream of Home Ownership.

Give me a call on my cell phone. Looking forward to hearing from you.

Warmly,

Stephanie LeFew

www.TampaHomeBuy.com

Tampa Home Buy Realty

813-624-3332 cell phone

Tampa Realtors and Tampa Real Estate for Sale at Reduced Prices

Buyer Incentives Available AND My Services are FREE to Buyers

Real Estate Investors moving back into the real estate market

Stephanie LeFew (Tampa Home Buy Realty) — Thu, 12 Nov 2009 13:04:11 -0600

Real estate investors are moving back into the market, according to a recent survey --

12.1 percent of home buyers today plan to buy a home as an investment property, compared to 5.6 percent in March 2009. The survey found that 15.8 percent of those interested in investment property were men and 8.1 percent were women and 52.6 percent of the investment buyers were between ages 35 to 49.

Of the 25.3 percent of buyers who are focusing on foreclosure properties, 42 percent regard the purchase they are considering an investment and don't plan to live in the property themselves; 13.2 percent plan to rent out the property; 11.3 percent are going to fix up the property and resell it; and 17.4 percent plan to house a family member until the property can be sold profitably.

Of the 9.8 percent of buyers who say that they plan to purchase and live in a property in the next two years, 5.4 percent plan to purchase in the next 12 months; 48.3 percent are first-time buyers; 52.8 percent are women, and 44.1 percent are men.

Buyers of investment and personal property say they are motivated by these factors:

Prices are as low as they will go, 23.6 percent.
Foreclosure prices are a bargain, 18.7 percent.
Great selection of homes for sale in their target community, 21.2 percent.
Concerned interest rates will rise, 14.2 percent.

Interested in investing in the Tampa Bay Florida Real Estate? Call me so that I can let you know about the current mls listings of shortsales, bank owned homes or REOs, and new home builder inventory.

Our Services are FREE to buyers. Also Buyer Incentives are Available when you use Tampa Home Buy Realty when you purchase a home.

Looking forward to hearing from you.

Warmly,

Stephanie LeFew

813-624-3332 cellular

813-991-1355 office

Tampa Home Buy Realty

Tampa Realtors and Tampa Investment Properties from fixer uppers to Luxury Waterfront

www.TampaHomeBuy.com

stephanie@tampahomebuy.com

Homeowners "Underwater" with their Mortgage in Tampa Bay

Stephanie LeFew (Tampa Home Buy Realty) — Mon, 09 Nov 2009 10:28:35 -0600

Your options: Keep paying or try to change your loan's terms.

But some people wonder, what if I just stop paying the mortgage? It may be a tempting idea, but it quickly leads to trouble.

Here's what could happen if you don't pay the mortgage.

Credit bureau

If your payment does not arrive, your lender or servicer will report this late payment to the credit bureau by the first day of the next month. This will put a negative mark on your credit report and your credit score will drop.

The late payment report whacks your credit rating. Your credit score starts to drop, by up to 200 points, if this is your only late or missed payment.

Cards are closed, rates rise

In the next 30 days, you can expect your other creditors to notice the late mortgage payment and to take action. They can raise your interest rates, shut off your credit card entirely, or lower your credit limit. Auto insurance, student loans and other forms of credit are related to your credit score.

Tightening of credit lowers your Credit Score

Credit scores feed on themselves. If your credit card limits are lowered and you are carrying a balance, you are then using more of your available credit, something known as your utilization rate. When that goes up, it lowers your score some more.

The negative mark stays on your credit report for seven years. But the impact on your credit score lessens over time. The biggest impact is for the first two years.

Mortgage Company response

The phone will start ringing. Your lender will try to contact you, try to persuade you to go into a loan modification of some kind.

But after 90 days, you cannot just start making payments again. The lender may actually send your payment back, if you send it this late and have not been in contact.

What happens next? After a couple or more months of not paying your mortgage, you will likely be served with a foreclosure notice.

According to attorneys, if you don't respond within 20 days, then the lender, in the following 60 days, will ask a court to issue a judgment against you.

A county sale will be arranged 50 to 120 days after the judgment. Next, 120 days after the sale, the sheriff will be at the door. Ten days after that, you'll be thrown out of your home. (All time frames are approximate.)

Many things to consider.

Stephanie LeFew, Tampa Realtor
www.TampaHomeBuy.com
813-624-3332
Tampa Home Buy Realty

Which is Better? Do a shortsale or Just Let the Bank foreclose?

Stephanie LeFew (Tampa Home Buy Realty) — Sun, 08 Nov 2009 16:35:32 -0600

Here is some interesting information - Borrowers prefer short sales because Fannie Mae requires them to wait only two years to own another home or even less than that if they were not delinquent. By contrast, those who lost their homes to foreclosure have to wait five years.

Call me about Selling your Home by Shortsale please. Treating you with Dignity and getting the job done.

Warmly,

Stephanie LeFew

www.TampaHomeBuy.com

Tampa Home Buy Realty

813-624-3332 - personal cell phone

Tampa Florida Area Realtor Specializing in Selling Shortsales

Wanting to Purchase a Bank Owned Home or REO?

Stephanie LeFew (Tampa Home Buy Realty) — Sun, 08 Nov 2009 15:07:02 -0600

It is a very good idea to have things in order before making an offer. That includes having the financing firmed up and writing a clean offer - for example, asking for new oven racks as part of the deal could make you seem like a demanding buyer who will be annoying to deal with. The bank would much rather work with another buyer and will do so if the listing agent or the bank get a vibe that you will be a pain to deal with.

Most bank-owned properties are sold "as is." If there is something you want fixed, it's best to just factor that into the price you're offering, but don't expect to bargain the listing price way down, as Banks typically price their properties at a 20 percent to 30 percent discount anyway. If the property has been on the market for a week or two, don't expect the bank to drop the price; if the listing is older, we may be significantly negotiate on the price.

Banks also require the potential buyer to get pre-qualified with the bank that owns the home so that they can get a feel on how strong a buyer is. That does not mean that you have to go with that lender however.

Whatever directions are given to your realtor however, like a specific amount that is needed as an earnest deposit and prequel letter, specific contract provided by the bank or instructions about the offer need to be followed as the bank has "the cookie" and they want to sell that cookie to the person that can follow directions and not be a nightmare to deal with.

Warmly,
Stephanie LeFew
Tampa Home Buy Realty
www.TampaHomeBuy.com
813-624-3332 cellular phone
My Services are FREE to Buyers!
Buyer Incentives Available

FHA Lenders Offer Cash for Keys - Deed in Lieu of Foreclosure

Stephanie LeFew (Tampa Home Buy Realty) — Sat, 07 Nov 2009 21:15:22 -0600

The Federal Housing Administration (FHA) is giving struggling borrowers an opportunity to deed their property over to the lender in exchange for up to $2,000.

Under the Cash for Keys program, borrowers with FHA-backed loans who agree to a deed-in-lieu-of-foreclosure do not have to repay the mortgage.

To qualify, owners must face long-term financial hardship, put the house on the market at a fair price for at least 90 days, face no additional claims or liens other than the first mortgage on the house, and leave the property clean and in good condition. This is one possibility for homeowners behind in payments.

I really believe it is really hard for homeowners to make this decision. If a homeowner can ride out and keep making payments on their home and not fall behind in payments, many would say that would be the moral and right thing to do. Please don't just stop making payments because you feel like you have a bad mortgage product or are frustrated about falling housing values. It is a frustrating feeling, to be sure. A home buyer who is falling behind in payments and considering selling their home by shortsale, please pray through your decision, and do what you think is right. You may want to consider consulting with an attorney or accountant.

Please let me know if there is anything I can do for you if you are looking to sell your home. Be sure, I will treat you with respect and dignity. I will work hard to negotiate your shortsale. My commission is paid by your bank is a part of the negotiation process.

Warmly,

Stephanie LeFew

Tampa Home Buy Realty

Pre-Foreclosure experience since 2001

Tampa Bay Florida Realtor specializing in Shortsale Listings and Sales

813-624-3332 cell

www.TampaHomeBuy.com

Debt Forgiveness for a Primary Residence

Stephanie LeFew (Tampa Home Buy Realty) — Sat, 07 Nov 2009 20:47:52 -0600

Tax break

A 2007 law exempts from tax up to $2 million of debt forgiven in a foreclosure or similar proceeding for a primary residence, according to the Internal Revenue Service. The tax break extends to 2012.

The lender's willingness to negotiate varies and depends on the loan balance, condition of the property, location and resale opportunities.

Short sales or deeds-in-lieu of foreclosures are apparently considered the same as a foreclosure on your credit score.

A foreclosure remains on a credit report for seven years. Credit scores can begin to rebound in as little as 2 years if bills are paid on time, according to FICO.

Please let me know if there is anything that I can answer for you in regards to shortsales that you may need to sell, or would like to buy.

Experience in shortsales since 2001.

Warmly,

Stephanie LeFew

Tampa Realtor

Tampa Home Buy Realty

www.TampaHomeBuy.com

813-624-3332 cell

stephanie@tampahomebuy.com

New Realty Company Opening in Tampa Bay!

Stephanie LeFew (Tampa Home Buy Realty) — Fri, 06 Nov 2009 21:23:46 -0600

I just started my new company, Tampa Home Buy Realty, LLC

I am very excited!! Selling homes since 2002, I felt a strong desire to start up my new company and continue assisting New Home Buyers, Veterans, people relocating to Tampa Bay Florida and investors in purchasing homes at terrific prices. Bank owned homes, shortsales, Builder Inventory are all terrific ways to get a home at a wonderful price.

It's a terrific time to be a buyer!! The Congress and The Senate approved an extension of the up to $8,000 tax credit for new home buyers. Just this morning President Obama signed H.R. 3548, enacting into law an extension, and adjustment, of the $8,000 tax credit for first-time buyers. Among other things, the extension adds money for certain move-up buyers; creates one deadline for signing a contract and a later deadline for closing; changes income requirements; and limits a purchased home's cost to $800,000. A purchase must be under contract by April 30, 2010. A purchase must be under contract by April 30 must close no later than June 30, 2010.

I also offer Buyer Incentives to all of my Exclusive Buyers!!

When I list and sell a home that is in a Preforeclosure status and a Shortsale occurs, the seller does not pay my commission directly. My commission is actually paid out of the negotiations with the Bank.

Please let me know if there is any way that I can assist you in either a home purchase or the sale of your real estate.

Looking forward to hearing from you.

Warmly,

Stephanie LeFew

Broker, Tampa Home Buy Realty

www.TampaHomeBuy.com

813-624-3332 cellular

Some Banks Getting Harder to Deal with -- Shortsales

Stephanie LeFew (Tampa Home Buy Realty) — Fri, 06 Nov 2009 20:58:57 -0600

I have been experiencing the Banks getting somewhat tougher to deal with in regards to negotiating shortsales, especially Bank of America. In order to get things done, I have had the negotiator insist on reducing commission to 4% as well as having the seller come to the table with $5000 dollars, pushing for $10,000, but accepting $5,000. Also time on the file to be even looked at is extremely long. Every time I called the seller, she was so irate about Bank of America, often driven to tears. She felt disrespected by Bank of America and of had quite a few descriptive words to say about them. The sale however was completed, and everyone breathed a real sigh of relief.

GTE has been easier to deal with however. One of my sellers told me from the beginning that the bank could forget about completing the shortsale if they insisted on a deficiency judgment. The home was their primary residence. I went forward with the shortsale negotiations believing for the best. The shortsale was negotiated, however the shortsale approval letter stated that the seller understood that the bank may consider a deficiency judgement. The seller by that time was just about over it. I called the bank once I received the expected approval letter and let them know that the seller said they could not agree to that. I was told that was standard and it would have to remain. I asked her what would have to happen in order to get that removed. I was told that the mortgage insurance company would have to sign off on the request to remove the verbiage and also a manager at GTE would have to sign the letter once she received it. I said, "Well could you try to get that done so we can get the deal done?" -- the mitigator said "sure". After about 5 days, I received the letter with that contingency removed. My seller was soooo excited and relieved. The sale went thru with buyer, seller, and realtors very happy. The buyers were expecting their first child. The Sellers could move into a home in the same area and were very excited to put everything behind them. God was with us.

Please let me know if you have any questions about selling a house behind in payments in Tampa Bay, selling homes in 4 counties - Hillsborough, Pasco, Pinellas & Hernando Counties.

Warmly,
Stephanie LeFew
Broker, Tampa Home Buy Realty
Tampa Real Estate for Sale at Incredible Reduced Prices
813-624-3332 cell
stephanie@tampahomebuy.com / www.TampaHomeBuy.com

Buying a Foreclosed Property? Please be careful!

Stephanie LeFew (Tampa Home Buy Realty) — Thu, 05 Nov 2009 22:02:45 -0600

When a buyer considers buying a home where there is a person selling their home to the new buyer, the seller is required to fill out a Seller's Disclosure noting all that they know about the home. There is disclosure.

When a buyer is considering a Bank Owned Home or REO, there is no seller disclosure. The Bank says I don't know; I never lived there. I don't know.

The person that lost the home to the bank in a foreclosure may have been really mad and could have done something to the home that is not easily observable - flush cement down the pluming, flood the house and turn the heat up as high as they can and laugh about the moisture issues the bank will now have to deal with. It is really criminal what some disgruntled home owners have done.

So...as the new potential home buyer, it is ALWAYS a good idea to get a thorough home inspection with a reputable home inspection company with the water and electricity turned on. The Bank should turn the utilities on for the home inspection, however occassionally the buyer will have to fit this bill.

You have to exhibit a lot of wisdom in buying a home.

Sometimes a great deal is not such a great deal for the new buyer, but a great deal for the seller. Protect yourself, please, by paying for a home inspection. This is a buyer's expense. With a termite inspection the cost of a home inspection should be $425 approximately, depending on the square footage of the house.

Please let me know if there are any questions I can answer for you.

Looking forward to hearing from you.

Warmly,
Stephanie LeFew
Tampa Real Estate done Right
www.TampaHomeBuy.com
Tampa Home Buy Realty
813-991-1355 office
813-624-3332 cellular
stephanie@tampahomebuy.com

FDIC Foreclosure Prevention Initiative

Stephanie LeFew (Tampa Home Buy Realty) — Sun, 01 Nov 2009 15:38:40 -0600

The FDIC has launched a FREE Foreclosure Prevention Toolkit for consumers in order to help them to avoid unnecessary foreclosures as well as foreclosure prevention scams.

This tool kit tells the consumer who to contact and what documents are needed to apply for a loan modification that could help to save their home from foreclosure.

The public can access the free tool kit at http://www.FDIC.gov/foreclosureprevention.

The FDIC's foreclosure prevention tool kit includes:

"Is Foreclosure Knocking at Your Door?" brochure (available online and in print), which encourages consumers facing financing difficulties to contact their servicer, apply for a loan modification and talk to a counselor.
"Beware of Foreclosure Rescue Scams" brochure (available online and in print), which provides information on common scams, tips for detecting fraudulent deals, and resources for reporting criminal activity.
Spring 2009 edition of FDIC Consumer News, which features advice for consumers on avoiding foreclosure rescue and loan modification schemes.
Your Own Home module of the FDIC's Money Smart curriculum, which offers tips and advice on avoiding foreclosure with a loan modification, preventing foreclosure "rescue" scams and providing legitimate sources of foreclosure prevention assistance.

Please let me know if you need to sell your home by shortsale. The Bank pays my commission and is included in the negotiations with the bank. I have been selling homes involved in a preforeclosure situation since 2002.

Warmly,

Stephanie LeFew

Tampa Bay Florida Realtor Specializing in Tampa Shortsales

Tampa Home Buy Realty

www.TampaHomeBuy.com

813-624-3332 cell

813-991-1355 office

Sunny Florida Remains #1 for English Holiday Home Buyers!

Stephanie LeFew (Tampa Home Buy Realty) — Tue, 27 Oct 2009 09:24:37 -0500

United Kingdom accounts for the second highest number of foreign buyers coming to the U.S.

When considering an American Holiday Home or American Holdiay Vacation home, most British buyers consider Florida because of the wonderful weather, beaches, and daily flights to and from the United Kingdom.

Warmly,
Stephanie LeFew
www.TampaHomeBuy.com
Tampa Bay Real Estate MLS Home Search and Listings
Solaris Realty of Tampa Bay
813-624-3332

This home would not allow for FHA Financing?

Stephanie LeFew (Tampa Home Buy Realty) — Thu, 22 Oct 2009 22:51:35 -0500

I have a customer that showed some interest in a bank owned home in Tampa Bay. In the realtor only remarks it said this home would not allow for FHA Financing.

I recently have come into contact with a new mortgage person. I contacted him and asked him if FHA was out of the question for this home. I was told that his mortgage underwriter has decided to be open and flexible on those points, based on today's real estate market and the condition of some preforeclosures and bank owned homes in Tampa Bay.

I was pleasantly surprised. This information is a great advantage for my buyers!! My buyer should be able to get the home below asking price and also get a terrific mortgage program.

Please let me know if you have any questions about purchasing a bank owned home in Tampa Bay Florida.

Warmly,
Stephanie LeFew
Tampa Florida Realtor
Solaris Realty of Tampa Bay
www.TampaHomeBuy.com
813-624-3332
stephanie@tampahomebuy.com

Exciting News!! - Housing Starts Rise in 8 Months Out of 9 This Year

Stephanie LeFew (Tampa Home Buy Realty) — Thu, 22 Oct 2009 22:03:35 -0500

Housing Starts Rise In 8 Months Out Of 9 This Year

Housing Starts on single-family homes gained last month, marking the 8th time that's happened this year.

A "Housing Start" is a home for which the foundation has been excavated and, considered alongside other key market metrics, September data suggests that the housing market stabilization is complete.

Momentum in housing is overwhelmingly positive:

Homes under contract are soaring
National home supplies are way down
Home values are up in a lot of markets

Despite the positive news, the press is calling September's Housing Starts data a "bummer". Citing a drop in monthly building permits, the media purports that housing will slow in the months ahead.

The conclusion may be right, but the rationale may be wrong.

The probable cause for fewer permits isn't that the housing market is overdone. It's that home builders are choosing to exercise caution given the pending expiration of the First-Time Home Buyer Tax Credit and a still-growing number of foreclosed homes.

It's unclear what housing demand will be beginning in December and the last present a builder wants for the holidays is an excess of inventory.

It makes sense that building permits are down, in other words.

Looking back at February of this year, there's a host of signs that housing is on the path to recovery. Now, that path won't be a straight line and there's bound to be setbacks, but September's Housing Starts is not one of them.

Housing Starts are up 40 percent on the year.

Information provided to me just today by--
Scott Carter

659 W. Lumsden Rd.
Brandon, FL 33511
Phone: (813)315-2976
Toll Free: (888)291-2822 Ext. 2976
Fax: (866)838-0913
Web Site: www.elitemtg.com

Warmly,
Stephanie LeFew
www.TampaHomeBuy.com
Amazing Tampa Realtor
Tampa Real Estate for Sale at REDUCED Prices
Solaris Realty of Tampa Bay
813-624-3332

Free foreclosure advice from the Florida Bar!!

Stephanie LeFew (Tampa Home Buy Realty) — Mon, 19 Oct 2009 07:56:13 -0500

I am excited to let you know that there is available Free foreclosure advice from the Florida Bar -

The Fla. Bar offers advice to Floridians facing foreclosure and the ability to search for a local pro bono lawyer at www.floridabar.org.

This website page has links to information about free clinics and other help; about finding an attorney; and about how not to become a victim of a foreclosure-rescue, loan-modification or debt- or credit-repair scam. If you know of additional resources, please e-mail the Consumer Protection Law Committee at slyle@flabar.org.

Information for consumers includes: Free Help, Workshops and Clinics, A calendar of foreclosure, bankruptcy and housing help workshops and clinics being held through Florida, Finding an Attorney/ Legal Aid Resources, Information about the Florida Attorneys Saving Home program, the Florida Bar Lawyer Referral Service and Legal Aid agencies and questions to ask an attorney, Tips / Avoiding Scams, Homeowners can find tips and help from state and federal agencies to deal with housing issues and avoid becoming victims of scammers. Also relevant terms to know.

FREE HELP - Help is available. Begin looking for help as soon as you know you may not be able to pay any of your bills, particularly your mortgage.

Warmly,

Stephanie LeFew

www.TampaHomeBuy.com

Tampa Real Estate for Sale - Tampa Florida Realtors

813-624-3332

Solaris Realty of Tampa Bay

My Services are FREE to Buyers! Buyer Incentives Available

If you are behind in mortgage payments, please be careful....there are sharks in the waters

Stephanie LeFew (Tampa Home Buy Realty) — Sat, 17 Oct 2009 23:35:39 -0500

Those behind in payments -- be careful, there are plenty of sharks in the waters.

There are many foreclosure help, loan modification companies that are being investigated and shut down by investigators. So many charging thousand of dollars to help the home owner get a change in percentage rate or monthly payments, and not doing anything to help.

This may be a good source for you instead -- Consumers struggling with their mortgages also can get free help from federally certified counselors at 888-995-4673 or by going to www.995hope.org.

Please let me know if there is any way that I can help you with your real estate questions.

Warmly,
Stephanie LeFew, Tampa Realtors - Solaris Realty of Tampa Bay
www.TampaHomeBuy.com
813-624-3332

Scales tipping for renters...just a little more per month to own a home

Stephanie LeFew (Tampa Home Buy Realty) — Thu, 15 Oct 2009 18:11:38 -0500

Renters are really starting to realize that for just a little more per month they can own a home.

When you rent, all the benefits go to the owner of the property.

If you purchase a home, you get the tax benefits. Low interest rates. Tax incentives. Win, Win, Win.

There are so many super terrific homes for first time home buyers, bargain priced homes. Bank owned homes, approved shortsales, just plain motivated sellers are out there saying to you "Pick me. Pick me."

There are some areas that still offer 100% financing. You can have your closing costs rolled into your purchase. If you are a military person, VA loans also offer 100% financing. FHA loans require only 3 1/2% down. Low interest rates mean you can get more house for your money each month, with a fixed rate mortgage. It is such a great time to be a buyer. Prices will be inching up, as well as interest rates. Mortgage companies only increase their scrutiny of a home buyers situation as time goes on.

Is now the time to sieze the home buying opportunity for you?

Please let me know if there are any questions that I can answer for you.

Warmly,

Stephanie LeFew, Tampa Realtor

Solaris Realty of Tampa Bay

www.TampaHomeBuy.com

stephanie@tampahomebuy.com

813-624-3332 cell

My Services are FREE to Buyers!! Buyer Incentives available, just ask

Bidding wars are here and now in Tampa Bay Florida Real Estate Market

Stephanie LeFew (Tampa Home Buy Realty) — Wed, 14 Oct 2009 11:02:48 -0500

Bank Owned Reos, specifically well priced homes in good condition, are driving multiple offers, a virtual auction. When a home buyer listens to their realtor encouraging their absolute best offer, including going $1000 above list price to several thousand above, they can have their victory dance.

Sometimes a bid to obtain the property pushes the house out of a buyer's price range and out of their ability to obtain a mortgage and closing, that would be frustrating to everyone, so wisdom has to be applied to the bidding process.

Nearly all REO's offer the home "as is", some requiring your home inspection prior to making your offer, in rapid fashion. I had a customer make an offer $2K above list price after paying for a home inspection, loved the house, but ihis offer was at the maximum of his loan ability. The home received multiple bids and the listing agent asked for highest and best offer. My buyer could go no higher and the home went for the buyer offering SEVERAL thousand above list price. It was amazing, but extremely difficult for my buyer, who decided to then buy a townhome rather than a single family home.

The terrically low prices, the low interest rates, FHA financing and the Rural Housing loans, combined with the up to $8000 tax credit appear to be driving this current home buying frenzy. Approximately 90% of my home buyers are first time home buyers.

It is a terrific time to be a home buyer, please just be willing to listen to your experienced realtor in making your offer so that you reach your goal - home ownership. Time is fast approaching for the conclusion of the up to $8000 tax credit.

Please let me know if there is anything that I can do to answer real estate questions that you may have.

Warmly,

Stephanie LeFew

Solaris Realty of Tampa Bay

www.TampaHomeBuy.com

stephanie@tampahomebuy.com

My services are FREE to Buyers! Buyer Incentives, just ask!

813-624-3332 cell

Condo associations feeling real pinch - many are turning to bankruptcy

Stephanie LeFew (Tampa Home Buy Realty) — Tue, 13 Oct 2009 19:23:03 -0500

With the weak economy, many condo associations - which are classified as not-for-profit corporations - find bills are piling up as units enter foreclosure and homeowners stop paying association fees, putting enormous financial strain on residents left holding the bill.

When condo communities are not receiving their monthly condo fees from condo owners, they have to look for options, especially when the condo fee delinquencies reach 30% or more. When individual condo owners fall behind in their mortgage payments, the association also feels the pinch about the same time.

When a bankruptcy is filed by the condo association, utilities including water and electricity cannot be turned off. In order to operate for the condo owners and have the lights on outside their units, condo assocations are faced with tough decisions.

Leveling with creditors and utility companies are other options. Other options that can be a real detriment to those who are making their association payments -- special assessments. Ouch!

Very often buyers considering a condo purchase cannot get an FHA loan, due to high rental numbers, vacancies and condo association challenges, as mentioned above. They nearly always need to be purchased with conventional financing.

You can get some really great condo buys, especially if you are a cash buyer, however as mentioned above, there are risks.

For this reason, many real estate investors consider purchasing single family homes. Something to think about when considering investing in real estate.

Please let me know if you have any questions about purchasing a home in the Tampa Bay Florida area.

Warmly,

Stephanie LeFew

Tampa Realtor and Broker Associate

Solaris Realty of Tampa Bay

www.TampaHomeBuy.com

stephanie@tampahomebuy.com

813-624-3332 cell / 813-991-1355 office

My Services are FREE to Buyers!! Buyer Incentives available --- Just ask me :)