The Price is Right In Poinciana FL...So Come On Down!!!
Folks, these are some really nice homes that we are selling in the low $120s. Most are only a couple of years old and average about 1550 sq ft living area with 3 bedrooms and 2 baths. You can't find a house like that any where else in Central Florida, for these prices. Not only are our prices low but if you want to buy one of these homes you may qualify for a USDA Rural Housing Loan. That's right folks.....USDA, the same folks that stamp the meat at the Winn Dixie also have mortgages. What the USDA does is offer 100% financing in areas that qualify for Rural Development! And guess what?....Poinciana qualifies! That means if YOU qualify you don't even have to have a down payment!! But Broker Bryant what do we have to do to qualify for one of those suckas? That's a darn good question. I don't know!!! Hey Don't look at me like that!! I'm a Real Estate Broker NOT a Mortgage Broker. Finding you a loan is "not my area" BUT....I know people. And some of these people ARE Mortgage Brokers and can get you some of that "all beef patty" money. So, this is what I'd do if I were you.....I'd contact me....Broker Bryant and let me introduce you to the right people. Let's just see if they can get you some of that meat money. Now if they can, I'm positive that we can find you a darn good place to call home. CHECK OUT THESE AVAILABLE HOMES And, before you know it, you can call your Landlord up and say "See ya! I'm loadin' up the truck and movin' to Beverly Hills Poinciana!" Now that wasn't so hard was it? Are you dialing yet? Come on...I'm waiting...la la la la......hello.......where are you.......lines are now open.....hello....Where the heck is Ryan Seacrest when you need him? Ok....I'm outa here. Operators are standing by. ***VISIT THE DIRECT SOURCE FOR POINCIANA REAL ESTATE BELOW***
Copyright © 2008 http://www.brokerbryant.com/ | All Rights Reserved Bryant Tutas Makeover to Takeover. The best protege ever!!!Hi folks. I'm writing this post to help out my new friend Matt Yogerst. As most of you know, ActiveRain posted a few days ago, about a new competition they are putting together called: "Makeover to Takeover". Have you heard of it? If not, just click on the link above.....that's why it's there for Pete's sake!! Anyway, I received an excellent Email sales pitch from Matt asking me to team up with him to WIN this contest. But alas.....I turned him down!! Now, it wasn't personal, it's just that I'm selfish I don't do anything unless I can give it 100% and unfortunately, or fortunately I guess, I'm just too busy working on my tan business. I did however take the time to read through Matt's profile and his website and he strikes me as a very nice young man. Matt has only been in the business about a year and has just recently joined ActiveRain. Matt needs a mentor for the contest and I am writing this post to bring attention to his quest. So folks, take a few minutes to check Matt out. If you want to be a mentor for the ActiveRain competition please consider helping this young man. Wouldn't it be cool to see him succeed because of your efforts? So what do you say? Any takers? Matt, my only advice is to not act like the guy in this video!!
Trulia Widgets. Are they stealing your Google juice?
If you are wondering why Trulia is beating you out, for local Google SERP, this could be why. From what I understand, every time you place one of their widgets on your web site or blog you are basically telling Google that Trulia, not you, is the local real estate expert. Did you know when you Google Poinciana real estate, Homes.com is number 1 and Trulia is number 2. My site, http://buypoinciana.com is number 3 and 4. My site http://poincianaproperties.com is number 7 and http://brokerbryant.com is number 10. Fortunately, for me, I do own 40% of the SERP for that search. But why should I have to compete with Trulia and Homes.com? They are NOT experts on Poinciana real estate. In fact, you can't even find me when you click over to their sites and I belong to both Trulia and Homes.com. Actually, after extensive searching, you can find me. But that's only because I know where to look. The consumer doesn't have a chance in hell, of finding me, unless it's by luck. OR.....they can Google Poinciana Real Estate Expert and find me in the numbers 1 and 2 position! Bite me Trulia!! Oops....sorry....I couldn't resist. My http://poincianaproperties.com site is hosted by Homes.com and has been for almost 9 years. I wonder why my profile and listings, when found directly through homes.com, is loaded with paid advertising? Seems like the $79 a month I have been paying for 9 years would keep that from happening. My suggestion is to pop over and read Eric's post and then take the steps he has outlined to change the Trulia widget code. Or better yet....quit using ALL widgets. Have you ever looked to see how much crap widgets place on your computer? It's a whole bunch. Widgets are like spy ware. Not only are they stealing your Google juice but they are also spying on you! Do you really think they give you these FREE widgets just because they are nice and want to help you? I don't believe that for one minute. Those FREE widgets are costing you. They are costing you business. OK, that's it for me. You got anything to add? ***VISIT THE DIRECT SOURCE FOR POINCIANA REAL ESTATE BELOW***
Copyright © 2008 http://www.brokerbryant.com/ | All Rights Reserved Bryant Tutas
Short sales, 1099s, promissory notes and.......DUH!!!
Richard's post brought up two very good points for me. Both were light bulb moments. The first was the 1099 "thingie". Whether you receive a 1099, or not, has no bearing on whether you have income to declare. Well...duh!!! Why would it. All a 1099 does is reports the income to the IRS for you. If it's not done for you....it is still YOUR obligation to report it. A perfect example of this is the way Title Companies, at least in Florida, handle our commissions. They are not required to 1099 me for commissions paid....BUT...I still have to claim the income. So wouldn't the Seller have the same obligation? They certainly may not have to pay any taxes BUT they would still have to claim the income. The second light bulb moment was the promissory note. Some lenders will require the Seller to sign a promissory note for all of the "short" or part of it. So my thought was, why not sign it if the alternative is a foreclosure? What difference does it make? You would go from having a foreclosure on your credit to having a "no pay" promissory note. I had a Seller, several months ago, whose property was foreclosed on. She owed $270,000 on a property worth about $139,000. We attempted to get a short sale acceptance at $130,000. The lender agreed assuming the Seller would sign a note for $140,000. I was able to negotiate the note down to $40,000. The Seller's attorney advised her not to sign it and to just let the property go into foreclosure, which it did. By the way, the note would have been interest free and for 15 years. Was this a mistake? After reading Richard's post I believe it was. My plan in the future is to just send these Sellers over to Richard. I'll let him handle the heavy lifting. That way I can concentrate on listing and selling. All this other stuff is just more than I need to know. What say you?
Copyright © 2008 http://www.brokerbryant.com/ | All Rights Reserved Bryant Tutas Bill HR 5830. Good, bad or too soon to tell?
From what I've read, and understand, this Bill will give distressed Homeowners an opportunity to refinance with FHA at 90% of value IF their current Lender will agree to a short payment. One of the caveats is that the FHA will own a piece of the action. When the borrower sells they will either pay, from any profits, a 3% exit fee (a percentage of the original loan amount) to the FHA or a declining percentage of any net proceeds, attributed to appreciation, (from 100% in the first year to 50% in year 4 or after) whichever is larger. I guess this FHA participation, in the appreciation, is to prevent speculators and second homeowners from participating. This Bill is designed specifically to keep folks in their homes. My first thought is WOW!!! How great would this be to assist folks that are facing foreclosure who are in a short sale position? How receptive will lenders be to accepting a short sale at 90% of value? Then I start thinking about FHA owning a piece of the appreciation. Basically they would now be an equity partner to the homeowner. OK, I need to get my head around this. You can find Bill H.R. 5830 here. Please help me to understand the pros an cons of this Bill. What are your thoughts?
Copyright © 2008 http://www.brokerbryant.com/ | All Rights Reserved Bryant Tutas
HomeGain, FSBOs, Idiots and "going it alone"!
Hi folks, you may have already read about HomeGain's new "Personal blooging network for real estate professionals" If not read this post by Brian Brady and this one by Greg Swann over at Bloodhoundblog. This post is NOT about Homegain's new blogging platform. This post is about REALTORS® and their attitudes towards folks that choose to "go it alone". But there is a connection....so please bare with me. Jeff Turner posted "For Sale By Owner: Raise the price then call a REALTOR®" a couple of days ago. Jeff's post was basically reposting a question that a FSBO had placed on Twitter. The question was: "Got a buyer for my condo. They want me to hold the mortgage. Any advice?" Jeff's post was not only a Public post but it was also a Featured post. It received over 70 comments. The comments, from REALTORS® included statements such as:
Now, in all fairness, there were some pretty decent responses, as well, but in my opinion, the majority of the comments were just reprimanding this guy for not wanting to use a "professional". Folks, if you think those PUBLIC comments make you look like professionals then you are sadly mistaken. Whether this FSBO made a good choice, or not, he was really just asking for some advice. If you don't want to give him any....then don't. But make no mistake about it....him choosing to "go it alone" does not make him an idiot! One commenter summed it up nicely with this comment: "All sellers have four choices, don't sell it, sell it yourself, list with any old Realtor, or hire an experienced one." The key word of course being CHOICES. It's the Seller's choice...not ours. If you want to try and win their business then have it...but demeaning their decision to "go it alone" will only accomplish making yourself look foolish. Not to mention the damage it does to our profession's reputation. Anyway, I was reading the comments over on Greg Swann's post, about HomeGain and it hit me, Louis Cammarosano, trying to sell Homegain's blogging platform, sounded like a REALTOR® should sound when pitching their services to a FSBO. Louis was debating with a couple of guys who thought "going it alone" was best. Here are a few snippets of what Louis had to say over at Bloodhoundblog: (The added parenthesis and CAP text are mine)
Now folks, who would have a better chance of winning the business? The REALTORS® on Jeff's post or Louis?
Poinciana Fl Real Estate Report. HELP!!!
Hi folks. Today I want to try to get my head around the distressed property market in Poinciana FL. By distressed properties I mean, banked owned and short sale listings. These stats are from the Mid-Florida Regional Multiple Listing Service and assume that the data was entered correctly. I'm sure there is a small percentage of incorrect data so the percentages may be a tad low. If I had to take a guess I would say they are low by about 2%-3%. So what I'm doing is comparing the figures for Poinciana neighborhoods, zip codes 34758 and 34759 excluding Cypress Woods, Crescent Lakes, Doral Woods, Lake Marion Golf Resort and the other "sub" subdivisions WITH Kissimmee excluding Poinciana. I want to see what percentage of the Active, Pending and Sold listings since Jan.1, 2008 are distressed properties(REO/SS). My goal is to see how Poinciana Villages stacks up. Let's see what we have: THIS CHART IS FOR POINCIANA
THIS CHART IS FOR KISSIMMEE
Now what does all this mean? Well, the obvious is that Poinciana is quite bit worse off than Kissimmee. It also shows me that the distressed properties are on the rise in both markets. This is evident by the percentage of pending listings that are distressed properties. It's also evident that the market in Poinciana is being dominated by distressed properties. While this appears to be a negative it's actually a positive. In my opinion, it means we are getting near to the end of the declining market. Now this doesn't mean things will be turning around in the near future it just means that we are getting to the stage in the decline where prices are reaching the bottom. Let me explain. And please remember this is just my opinion. My crystal ball is still at the shop getting repaired so I'm basing this on my market knowledge and what I see and hear in Poinciana. In early 2007 we had the mortgage "crisis". During this time Sellers were still being unrealistic about pricing and there were many over priced properties just sitting on the market. All the "Flippers" that had swooped in on Poinciana during the boom of 2005 and 2006 were still holding out for the big bucks. Market reality had not settled in yet. In the latter part of 2007 these property owners started struggling and the new "buzz word" was short sale. Our market was saturated with short sale listings. Unfortunately, the Lenders were either not prepared for the onslaught, of short sale requests, or they just weren't interested. Some of these short sale properties were sold but the majority were foreclosed on. Now, we have far more bank owned properties (REO) on the market than short sale listings. Buyers are not interested in short sales any more. And why should they be? Why wait for months, for a deal that may or may not close, when they can just purchase a REO property? Pending listings and sales have actually increased, just a tad, over the last 60 days. This means that Buyers are now taking notice of the REO properties. In fact some of these properties are being scooped up in a matter of days. While inventory hasn't decreased, properties are starting to sell, if the price is low enough. Anyway, over the next 6 months or so we should start seeing a decrease in inventory. Once this starts happening values should start to level out. However, we are still in for a rough ride for the rest of this year. Hopefully, the first part of 2009 will be better and we will be on our way to recovery. This is my analysis and I'm sticking to it. What say you?
Copyright © 2008 http://www.brokerbryant.com/ | All Rights Reserved Bryant Tutas How about some fish, a show and some land?
During the peak of the market, 2005, a building lot in Poinciana would fetch about $60,000 to $70,000. These were incredible prices since as recently as 2002 you could find lots in the $5,000 to $7,000 range. Sure wish I would have bought about 50 of those...but nooooooooo.......I'm an idiot!!!! This guy's lots are now worth about $30,000 each, assuming we could even find a Buyer. Anyway, he sent me an email asking if I heard of a company.....let's call them....Surf and Turf, Inc. I picked this name because one of their marketing techniques is bringing Buyers and Sellers together through promotional Dinner Shows. Have a piece of fish, watch a show and buy a lot. Does this work? I don't know. What I do know is that they are NOT licensed agents. They are in fact, a Nationwide Advertising and Marketing company that specializes in vacant land. And.....Why spend thousands on realtors with rock solid contracts that don't allow you to sell? Especially when....The real estate market across the country is better than it's ever been. Anytime is a good time to sell! Those are their words....not mine. Now folks, I'm a firm believer in free enterprise. If it works.....go for it. BUT....here's my problem with these types of "Marketing Companies". Actually let me just tell you what they told my lot guy. "We will sell your lot's in 90 days for $120,000 each. All you need to do is cut us a check for $1,897.00!!!" Where did they get that $120,000 figure from? My guess is they pulled it out of their arse!! But hey, what do they care? It's all about the upfront fee. IF....this Seller were not already well informed, by me, he could have very easily wasted $1,897.00. AND.....may have believed his $60,000 worth of Real Estate was actually worth $240,000!!! Incredible. So folks, be careful out there. Do your research before hiring a "Marketing Company" instead of a REALTOR®. If not, you may very well be buying dinner and a show for a lot of "Buyers". I do hear the fish is excellent though? What say you? ****Image courtesy of TLW and ROAR! Productions.
Copyright © 2008 http://www.brokerbryant.com/ | All Rights Reserved Bryant Tutas Is syndicating our listings unethcial? Illegal? Or neither?
It seems like some of the "listing" sites are not displaying our Brokerage information. Dan's questions are: Is this Ethical? Is this legal? And if not, are we unwillingly putting our licenses in jeopardy by allowing these sites to display our listings, either by syndications or IDX links. Standard of Practice 12-5
This Standard of Practice is the only one in our CoE, that I could find, that MAY apply. The other Standards in Article 15 specifically apply to our Firm's Website. So based on SoP 12-5 my question is: Are the "listing" sites affiliated with my company? My opinion would be "no they are not". A perfect example of this would be Point2Agent sites. When I enter a listing onto my Point2Agent site, just like the MLS, I CANNOT enter contact information in the public remarks or on the video/virtual tours because they are syndicated to numerous other sites and will be branded with that particular agency's info. Therefore, my conclusion would be that other's displaying my listings without my brokerage information is NOT an Ethical violation. Now Legally, I can only base my opinion on Florida law. Florida law states: OK it was very hard to find anything related to this in Florida law. I did find this under Chapter 475.25:
Either I'm missing something or have to conclude that syndicating my listings, without my Brokerage information, is neither Unethical OR Illegal in the State of Florida. So what am I missing? Or am I right? What say you? By the way, if you disagree.....I need proof. I can't learn without it.
Seller Participation Market Analysis.
Hi folks. I had a couple of listing appointments today and thought I would try a new approach. I decided to do the market analysis at the house in front of the potential Sellers. What I noticed was that the Sellers were much more receptive to what I was telling them about price. It's difficult to dispute hard cold data. What I did was...after we toured the property, and had our talk, I whipped out my laptop and logged into the MLS. Then I entered their property details and pulled up the Active listings. At my first appointment there were 569 listings that showed up!!! The Seller's jaw dropped at the amount of competition he had for his property. He could see how low the listing prices were. It was pretty dramatic. Secondly, I pulled up the sold listings and had the Seller pick the ones that he thought were most similar to his property, not based on sold price but based on features. Then I hit the statistics button to see what the average selling prices were. Another jaw drop!!! Then, I pretended I was a Buyer's Agent, searching for properties to show my Buyer. My goal was to make a short list of 10 properties that I would show. Once I had this list on my screen I simply turned my computer screen around and told the Seller "This is where you property needs to be if you want Buyers to look at it". This entire process took about 15 minutes and I have to say, it was very, very effective!!! I think I'll call this my "Seller Participation Market Analysis". What do you think? Is this something that will work for you?
Copyright © 2008 http://www.brokerbryant.com/ | All Rights Reserved Bryant Tutas
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Bryant Tutas Broker/REALTOR(R) Tutas Towne Realty, Inc Poinciana, FL More about me… Bryant Tutas-Tutas Towne Realty, Inc Office Phone: (863) 438-9003 Cell Phone: (407) 873-2747 Email Me ;) Links;) Tags (Tag Cloud);) Archives
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Welcome to.....The Price is Right! Come on down Poinciana Buyers....we have homes to sell in Poinciana Fl. Not only do we have homes but we have cheap homes. That's right folks CHEAP.
Posted by 
Hi folks. Richard Zaretsky wrote a great post yesterday titled 
Hi folks. I am writing today to pick your collective brains a little. Have you heard that the House of Representatives recently passed a bill, 
OK, you'll like this one. I've recently been communicating with a Seller that wants to list and sell a couple of vacant building lots in Poinciana. The lot market in Poinciana has pretty much dried up since most of the builders moved out of the area last year.
Yesterday, I read a very good post by Dan Homan titled 
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