Dominic Pallini's (anapleshome4u) Blog

Bank Of America Short Sale Relocation Assistance in Florida

Dominic Pallini (Vanderbilt Realty of Naples) — Thu, 06 Oct 2011 02:25:48 -0700

Florida Agents:Florida Enhanced Short Sale Relocation AssistanceFlorida homeowners may receive $5,000 to $20,000in relocation assistance.

Bank of America encourages distressed homeowners to explore a short sale as a viable option for avoiding foreclosure. To that end, for a limited time we are offering enhanced relocation assistance to help motivate homeowners to engage with us on a pre-offer short sale. An additional benefit for these pre-offer programs - such as the Home Affordable Foreclosure Alternatives (HAFA) and Bank of America's proprietary program - is that deficiency may be waived for the homeowner. Eligibility: Homeowners with property in Florida Short sales initiated without an offer between September 26 and November 30 The customer will have to be eligible for one of the without offer programs such as the HAFA program or our proprietary program (specific investor participation and eligibility criteria do apply to these programs) Successful closing of the eligible short sale by August 31, 2012 Minimum relocation assistance is $5,000 and maximum is $20,000, with the specific amount calculated based on the unpaid principal balance Exclusions: Ginnie Mae, FHA, VA and USDA loans are ineligible for participation Lot loans are ineligible for participation Properties outside the state of Florida are ineligible for participation Short sales initiated with an offer are not currently eligible for the enhanced relocation assistance Frequently Asked Questions: Q: How can I find out if my client/homeowner qualifies for this relocation assistance? A: Call a Bank of America short sale specialist at 1.877.459.2852. Monday - Friday 8 a.m. - 10 p.m.; Saturday 9 a.m. - 5:30 p.m. Eastern Q: Do I have to do anything differently when initiating or completing the short sale? A: No. As long as the homeowner's short sale is initiated between September 26 and November 30, 2011, and the property closes by August 31, 2012, they will be eligible. Q: Will the relocation assistance funds be reported on the HUD-1? A: Yes, they will be documented on the HUD-1, and a 1099-MISC will be issued. Q: Can the relocation assistance funds be used to pay off existing liens? A: Yes, if the investor approves it. Q: Is the relocation assistance added to any other incentives, such as the HAFA or Bank of America proprietary program incentives? A: No. A homeowner will receive the $5,000 to $20,000 in place of the typical incentive paid out by these programs. The relocation assistance is essentially an enhancement to the standard payout offered on these programs. Q: Is the enhanced relocation assistance available for other programs? A: Currently, the enhanced relocation assistance is only available to short sale programs initiated without an offer. However, as we gauge the success we may extend this incentive to other programs. Questions? Homeowners and agents may call 1.877.459.2852 to speak to a Bank of America short sale specialist about this exciting relocation assistance offering. Visit the Agent Resource Center at bankofamerica.com/realestateagent for additional short sale education, news and resources to help you complete short sales at Bank of America.

* The relocation assistance payment is calculated based on the unpaid principal balance of the homeowner's loan and the type of short sale that the homeowner completes, but will not be less than $5,000 or more than $20,000. The payment amount will be calculated based on the homeowner's loan balance as of August 2011 and the short sale program in which the homeowner is eligible. The payment will be delivered at the time of closing if the homeowner complies with all terms and conditions of the Short Sale Agreement, including the satisfaction of all second liens and presentation of clear title for the property (the relocation assistance payment can be used to clear those liens). If the homeowner does not comply with all terms and conditions of the Short Sale Agreement, the homeowner will not receive the relocation assistance payment. Even if the homeowner receives relocation assistance, Bank of America, N.A., and their successors and assigns may reserve and retain the right to pursue collection of any deficiency following the completion of the short sale, unless otherwise prohibited by law. The amount of the deficiency and relocation assistance will be reported to the Internal Revenue Service (IRS) on the appropriate 1099 Form or Forms. We suggest that homeowners contact the IRS or their tax preparer to determine if they have any tax liability. This offer is for Florida properties only. To receive the relocation assistance, the property must close by August 31, 2012.

Naples Housing Market

Dominic Pallini (Vanderbilt Realty of Naples) — Thu, 29 Sep 2011 07:00:31 -0700

Naples Florida real estate is selling briskly. Our inventory is down from over 14,000 housing units in 2010 to 5998 today September 29,2011. With the inventory declining we are seeing prices hold steady or rise slightly. There is a lot of talk about shadow inventory that banks are supposedly holding back on. I am not seeing that here in the Naples market, it appears as though the banks are selling off their holdings after they get them back thru the foreclosure process There is still time to take advantage of the extreamly low prices. Even with inventory low sellers are motivated to sell and make the deal. Please comment on this blog and give your opinion on the housing market in your area. Thanks, Dominic Pallini

Price Your Home Correctly From Day 1

Dominic Pallini (Vanderbilt Realty of Naples) — Tue, 20 Sep 2011 06:15:35 -0700

Check out this Today Show clip with Barbra Cochran about pricing your home to sell within 30 days. CLICK HERE

Naples Florida Real Estate Market Report September 2011

Dominic Pallini (Vanderbilt Realty of Naples) — Mon, 19 Sep 2011 09:28:19 -0700

REAL ESTATE MARKET KEEPS IMPROVINGReport Shows Downward Trend in Inventory Continues NAPLES, Fla.-September 16, 2011- The Naples Area real estate market is strong as shown by inventory that continues to drop and the overall median closed price stabilizing, according to a report released by the Naples Area Board of REALTORS® (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island). The number of available properties decreased 21 percent from 8,745 in August 2010 to 6,930 in August 2011. "The overall inventory continues to decrease and is currently at its lowest level since we started tracking inventory in January 2007," "The decrease in inventory covers all property types; single-family home inventory decreased 22 percent and condo inventory decreased 20 percent in August 2011," . For the 12 months ending August 2011, the overall median closed price for properties over $300,000 increased two percent to $550,000 up from $540,000 for the 12 months ending August 2010. "Single-family homes showed positive gains in the median closed price for the 12 months ending August 2011, with a four percent increase compared to the same 12 months in 2010," The report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges, geographic segmentation and includes an overall market summary. The statistics are presented in chart format, along with the following analysis: ¨ Overall pending sales for the 12 months ending August 2011 increased 5 percent with 10,107 contracts compared to 9,607 contracts for the 12 months ending August 2010. ¨ Single-family home pending sales increased 5 percent in August 2011 with 457 contracts compared to 436 contracts in August 2010. ¨ Condo pending sales for the 12 months ending August 2011 increased 12 percent with 4,880 contracts compared to 4,371 contracts for the 12 months ending August 2010. "The number of foreclosure sales decreased 50 percent from 179 sales in August 2010 compared to 88 sales in August 2011." "As the number of foreclosed home sales declined to only 88 transactions, short sales jumped 40 percent from 99 closings in July to 140 in August," The Naples Area Board of REALTORS® (NABOR) is an established organization (Chartered 1949) whose members have a positive and progressive impact on the Naples community. NABOR is a local board of REALTORS® and real estate professionals with a legacy of nearly 60 years serving 4,000 plus member-customers. NABOR is a member of Florida REALTORS® and the National Association of REALTORS®, which is the largest trade association in the United States with more than 1.3 million members and over 1,400 local boards of REALTORS® nationwide. NABOR is structured to provide programs and services to its membership through various committees and the NABOR Board of Directors, all of whose members are non-paid volunteers View August 2011 Market Statistics

Foreclosure Rate is Down in 2011

Dominic Pallini (Vanderbilt Realty of Naples) — Thu, 15 Sep 2011 08:43:22 -0700

Foreclosures are up ?? Read the Last Paragraph-- Down 33% in 2011 Daily Real Estate News | Thursday, September 15, 2011 A new wave of foreclosures hit in August, as banks picked up the pace in taking action against home owners who have fallen behind on their mortgage payments, RealtyTrac Inc. reported Thursday. The number of U.S. homes that receiving an initial default notice rose 33 percent in August from July. That increase represents the biggest monthly gain in four years, according to RealtyTrac. "This is really the first time we've seen a significant increase in the number of new foreclosure actions," says Rick Sharga, a senior vice president at RealtyTrac. "It's still possible this is a blip, but I think it's much more likely we're seeing the beginning of a trend here." The uptick in foreclosure activity follows after months of a slowdown in foreclosures, which started last fall, with banks reviewing foreclosure policies and paperwork after facing lawsuits and criticism over how they processed foreclosures. Some banks even temporarily halted their foreclosures as they more carefully reviewed pending cases. The slowdown was also blamed on court delays in some states. But some housing experts say the increase in foreclosure activity actually could be good for the housing market. A faster turnaround in foreclosures could help clear the glut of shadow inventory hovering over the market, which many say has caused home values to plummet. The “bloated foreclosure pipeline now presents the greatest obstacle to a housing market recovery," said Josh Levin, a Citi analyst. About 3.7 million more homes are in some stage of foreclosure than in a normal housing market, Levin said. Banks are on track to repossess about 800,000 homes this year — down from more than 1 million last year, Sharga said. Overall, 228,098 U.S. homes — or one in every 570 U.S. households — received a foreclosure-related notice in August, a 7 percent increase from July. However, that represents a 33 percent decline from August 2010. Inventory in Naples Florida is Down to 9431 properties in 2011 from almost 14,000 in 2010.Every market is different but the supply is down and the demand is steady and rising for aggressively priced properties Sometimes I think that the media just likes to boast about the bad news. The good news here is that the overall rate of foreclosures is DOWN !

Say YES to Amendment 4 in Florida 2012

Dominic Pallini (Vanderbilt Realty of Naples) — Thu, 01 Sep 2011 08:35:45 -0700

Putting All of Florida’s Taxpayers First Florida Taxpayers First is fighting for property tax relief that will touch every Florida taxpayer. We will work for reforms that support the homeowner and the small business owner. And by lowering property taxes across the board, taxpayers will feel the same positive impact of a lower burden of government, whether you are a property owner or a renter. Amendment 4 – A Change Florida Needs Next year, Florida Taxpayers First will lead the fight to pass Amendment 4, which accomplishes all of these things and more, providing critical relief for all Floridians when we need it most. What Amendment 4 Means Recapture Repeal – Common Sense Tax ReliefIf approved Amendment 4 will allow the Florida Legislature to repeal the rule known as “recapture”, ensuring that if your property value goes down, your property taxes cannot go up, sparing countless homeowners from higher taxes on top of lower home values. Non-Homestead PropertiesReduces the cap on the increase of property assessments for non-homestead property from 10% to 5%. Even if you do not have a homestead exemption for your home or office, your assessed value cannot increase by more than 5% from year to year. First-Time Homebuyer Homestead ExemptionProvides an additional homestead exemption for first-time homebuyers or homebuyers who have not had a homestead exemption in the last three years.

Second Recession Coming ????

Dominic Pallini (Vanderbilt Realty of Naples) — Thu, 01 Sep 2011 08:22:54 -0700

Second Recession Fears Ease Daily Real Estate News | Thursday, September 01, 2011    Many home buyers have been reluctant in recent weeks to move forward on home purchases due to fears that the country could be heading to a double-dip recession, but new data suggests they have nothing to fear. The job picture seems to be improving, according to new economic data. For example, a report from ADP, a payroll processing company, showed that private employers had added 91,000 new jobs in August--after expanding by 114,000 in July. Also, unemployment rates were lower in July than a year earlier in 257 of the 372 metro areas, according to the U.S. Bureau of Labor Statistics. The government’s labor market report, coming on Friday, also is expected to show a modest increase in employment. What’s more, the number of planned layoffs at companies, which has been rising for the last three months, curtailed in August. “The labor market is soft but not falling apart,” says Joel L. Naroff, chief economist at Naroff Economic Advisors in Holland, Pa. “The economy is not on the verge of a recession.” Also, economic data pointed to a strong rebound in demand for manufactured goods in July, particularly for cars. Orders for motor vehicles posted their largest gain since 2003

Plan to Revive Housing Expected Shortly 9-1-2011

Dominic Pallini (Vanderbilt Realty of Naples) — Thu, 01 Sep 2011 08:13:01 -0700

Obama Expected to Unveil Plan to Revive Housing Daily Real Estate News | Thursday, September 01, 2011    The Obama administration is expected to announce a new mortgage relief program next week to help struggling home owners stay in their home and reduce the number of foreclosures, Reuters reports. While the exact details of the proposal are still unknown, analysts are speculating that President Barack Obama is likely to announce a plan that would help more borrowers to refinance loans, allowing them to lower their monthly payments and ward off possible foreclosure. The refinancing plan will reportedly apply to loans backed by government-owned Fannie Mae and Freddie Mac or the Federal Housing Administration, allowing more home owners who have been unable to refinance due to poor credit, owing too much above their home’s current value, or unemployment, to take advantage of current low interest rates. Other lawmakers who have pushed for such a move have argued that by lowering home owners’ monthly payments, it would free up cash for other spending, which will help stimulate the overall economy. Lets hope that the Obama administration can get this passed. Homeowners across the nation need relief. It only makes sense to keep people in their homes, it preserves homes and communities from the perils of vandalism .

Is Florida is Bargain Priced ?

Dominic Pallini (Vanderbilt Realty of Naples) — Thu, 01 Sep 2011 08:00:35 -0700

Upturn in Florida home sales a welcome surprise Editor’s note: The following story provides insight into the world’s positive view of Florida as a smart real estate investment. It was published by Xinhua, a Chinese news agency that claims over 800 million website visitors.TAMPA, Fla. (Xinhua) – Sept. 1, 2011 – One of the first U.S. states to have its economy crushed by the U.S. housing market recession is now experiencing a rather happy surprise – its housing market is undergoing an upturn.Despite an unemployment rate of 10.7 percent, which is higher than the national rate of slightly over 9 percent, enough people are buying houses in Florida, especially in the Miami area, so that the state’s housing market is no longer considered an imminent problem by housing and regulatory agencies.What makes this even more unique is the fact that the status of Florida’s housing market seems to be in the opposite condition of the national housing market.End of July statistics by the U.S. Department of Commerce show that total sales of newly built homes in the U.S. declined for the third consecutive month. Total sales in July fell almost one percent.On another housing market matter, Standard and Poor’s (S&P), the rating agency which created a global storm by downgrading U.S. credit rating in early August, is currently being investigated by the U.S. Department of Justice to see whether or not S&P mis-rated home mortgage securities. S&P declined to be interviewed by Xinhua for this story.With all of the above fiscal-related problems negatively affecting the U.S. housing market, how are the Miami and Florida housing markets now having success? Todd Nordstrom, a Realtor for Keller Williams Realty in Miami Beach, got the answers.“The recent building boom has brought a tremendous increase in residents to the (Miami) downtown areas. At this time, approximately 85 percent of all condominiums built in the last boom are currently occupied, which is fueling new restaurant and entertainment options. Foreign nationals account for over 50 percent of all sales in the (Miami-Dade) county,” said Nordstrom.According to Nordstrom, “foreign nationals with cash due to rising currencies” were attracted to Florida by its lower home prices. They are mostly nationals from Brazil, one of a few countries that have witnessed rapid economic expansion in the past decade despite the recession that hit the U.S. and other major industrialized countries.A spokesman for RealtyTrac, which publishes the monthly U.S. Foreclosure Market Report, also gave its explanations for the housing boom in Miami and Florida.“We believe a slowdown in foreclosure activity, that started 10 months ago because of problems with foreclosure paperwork and documentation, is actually helping the Miami and Florida housing markets to experience this upturn,” said Daren Blomquist of RealtyTrac.Miami and Florida’s good-fortune housing market environments have happened elsewhere in the U.S. – most notably in Phoenix, Arizona – and “prices have passed the tipping point where buyers are willing to jump in, and the temporary lull in the foreclosure activity has helped to boost buyer confidence as well,” Blomquist said.Yet there are two other possible reasons for Miami and Florida’s upturn in their respective housing, according to Brad Sullivan, a spokesman for the U.S. Department of Housing and Urban Development (HUD).“Florida/Miami has a relatively high concentration of retirees that may contribute to the demand for housing, relative to states/metro areas with a higher share of unemployed persons. The Southeast in general was/is growing faster than many other parts of the country – the upper Midwest, for example,” noted Sullivan.The Miami-Dade housing market has had 12 consecutive quarters of increased sales. Condominium and home sales in the Miami-Dade area rose almost 50 percent in the second quarter of 2011.The Internet is another source for would-be homebuyers to refer to if interested in buying a house in Florida. RealtyTrac.com and Foreclosure.com, which has monthly charges for customers who are given a grace period of seven days without fees, allow Internet users to examine Florida foreclosure records. Another website, Equator.com, does the same, but for no charge at all to customers.While the Federal Housing Finance Agency (FHFA) is considering making tens of thousands of government-owned foreclosed homes into rental units, the medium price for a single-family home in the West Central Florida region dropped 3.2 percent from June to July. The medium price for such a home is now 125,000 U.S. dollars.According to S&P’s Case-Schiller home price index, from June of 2010 to June of 2011, Tampa had the largest decrease in the price of a single-family home than anywhere else in the U.S. In that time span, the price of a home in the region of Tampa declined by 9.5 percent.When RealtyTrac released in late July its mid-year report of the 20 metropolitan areas in the U.S. that had the most foreclosures, only one Florida area – Cape Coral/Fort Myers, which rated at 12 – was listed. One year ago, Florida had nine areas and cities listed in the top 20 of RealtyTrac’s listing.But in Washington D.C., a number of federal agencies have churned out data and reports about the housing market that seem to conflict – and the upturn in the Miami and Florida housing markets is no exception.On Wednesday, the FHFA issued a 83-page report about the status of housing markets all throughout the country, which stated that Florida’s housing market was down 8 percent in the second quarter of 2011 compared with the same period of last year.Yet Andrew Leventis, a senior economist for the FHFA, admitted that all is not glum for the Miami and Florida housing markets.“The strength (of both housing markets) is that there are incredibly affordable price levels for houses and that interest rates are at historic lows. If you want to buy a house in Florida and you have good credit, there’s a good chance that you can get a 30-year loan, which Americans love to do. There’s a lot of inventory (i.e., unsold homes) out there,” noted Leventis.Miami-Dade County is not the only area of Florida’s housing markets that is now experiencing robustness. In Orange and Seminole counties, both located in the middle of Florida, Realtors note that there is anywhere from four to five months of backlog inventory houses available – meaning that all types of homes, from single- family houses to mansions, are available to would-be buyers.In Leon County, only 9 percent of all homes available for purchase were sold in 2010, yet 2011 figures showed that this statistic is on the rise.DataQuick.com, a website which posts real estate news and custom data, reported that in the immediate Miami metropolitan area, the number of foreclosures decreased to it’s lowest level since 2007.

Never Occupied 4 Bedroom 2 Bath Home in Lehigh Acres Fl. 109,900

Dominic Pallini (Vanderbilt Realty of Naples) — Wed, 31 Aug 2011 06:36:07 -0700

Never Occupied, Just Completed, beautiful 4 Bedroom, 2 Bath, 2 car garage single family Home in SW Lehigh. Just 3 Blocks to Lee Blvd. This home features a Large kitchen with an open floor plan, living room/ dining area. Features include Granite Countertops in kitchen and master bath. Seperate Master Suite with his and her sinks, A Garden stye tub with a walk in Shower and Huge walk in closets. The 2nd bath also has Double sinks with a combo tub/shower. The bedrooms are spacious with ample closet space.This location is perfect , just Minutes to all conveniences. A Must See!!! Check out the Virtual Tour ! Click the LINK http://www.myhzm.com/51128

12866 Carrington Cir #204 Naples Florida $1500 per mo

Dominic Pallini (Vanderbilt Realty of Naples) — Sat, 20 Aug 2011 20:26:53 -0700

Rent this beautiful home in Aviano in Naples ,one of Naples premier communities for just $1500 per mo. 3 bed 2 bat with granite counters and a huge living room. Click to view the virtual tour : http://www.homezonemedia.com/etour.html/TOURID/50533

Naples Area Board Of Realtor Statistics Report August 2011

Dominic Pallini (Vanderbilt Realty of Naples) — Wed, 17 Aug 2011 08:14:52 -0700

Since March 2007, NABOR's inventory has been reduced by over 5,000 units.In April of 2007, NABOR started tracking the months of inventory. In the first month of tracking, April 2007, NABOR reported 34.78 months of inventory. Since the first month of tracking, the inventory has been reduced substantially over the years and demand has picked up. As a result, as of July 31, 2011, NABOR is reporting 8.83 months of inventory, which is the lowest since we started tracking months of inventory.Click the link for the graphs : http://nabor.com/zzdwnlds/news/Inventory_Graphs_8-17-11.pdf

Dale Wilhelm AKA " King Of The Dunes " - The Dunes- North Naples Luxury Condos

Dominic Pallini (Vanderbilt Realty of Naples) — Mon, 15 Aug 2011 20:01:52 -0700

Dale Wilhelm is the go to realtor at The Dunes in North Naples. Dale is not just a promoter of the property he is a proud owner of a unit. Dales in depth knowledge of the property makes him the expert when you are looking to buy,sell or rent your home at The Dunes. Dales use of the most up to date tools and technology help him accomplish your goals quickly and provide you with the best possible results. I recommend Dale Wilhelm to market your property at The Dunes in Naples Florida Check out his website @ www.DunesLuxuryCondos.com Dominic Pallini -- Amerivest Realty 239-949-2117 DPNaples@gmail.com www.naples-homezone.com www.pallinisells.com www.naplesbankownedhomes.com

Aviano Of Naples --12866 Carrington Ct # 204 , Naples Florida

Dominic Pallini (Vanderbilt Realty of Naples) — Mon, 15 Aug 2011 06:02:18 -0700

Private Preserve views adorn this 3 Bedroom, 2 bath home in Aviano. This home Features Granite countertops in the kitchen and baths with tile in the living areas.The living/ diningroom is HUGE with plenty of room for your big screen ! The master bedroom is awesome featuring a Large Soaking tub in Master bath and a walk in shower, you will be able to enjoy quiet times on your screened private lanai .This home also has a 1 car garage. The amenities include a community pool, clubhouse, fitness center and more. Close to all that naples has to offer. Make your move today ! Click the Link For the Virtual Tour : http://www.homezonemedia.com/etour.html/TOURID/50533

1300 Gulfshore Blvd. #610 DEL MAR Club, Naples Fl. only $399,000

Dominic Pallini (Vanderbilt Realty of Naples) — Mon, 15 Aug 2011 05:56:25 -0700

WOW, what an awesome view from this 6th floor condo. This is an updated corner unit that offers 2 bedrooms, 2 baths, tiled floors in kitchen and living areas . The master bedroom has a slider to the Lanai and includes a private bath with a walk in shower . The second bedroom is set up with 2 twin beds and a guest bath , tub and shower. Relax on your private lanai and enjoy the views of Lowdermilk Park and the Gulf of Mexico. Del Mar Club offers many amemities including a BBQ Picnic area,Pool Cabana, Community Pool, Library, Extra Storage Space and much more. This is an extremely nice property accross from the beach .Paradise awaits you Click the link to view the virtual tour : http://www.homezonemedia.com/etour.html/TOURID/49956

1300 Gulfshore Blvd--- Del Mar Club -- Naples Florida Vacation Rental

Dominic Pallini (Vanderbilt Realty of Naples) — Mon, 15 Aug 2011 05:27:56 -0700

What a Location ! This 2 bed 2 bath condo is located justs steps from Lowdermilk Park and just a short drive to downtown Naples .Featuring an open floor plan with updated kitchen and baths. The scenery off the lanai is outstanding, with views of the park and the Gulf Of Mexico. Location is everything when you are on vacation so be close to all that Naples has to offer , restaurants, shopping , Naples Philharmonic and beautiful SW Florida Beaches. There is a 90 day minimum rental period and no pets are allowed. This could be your place in the sun this winter. Make it Happen ! Call today ! Click The Link for the virtual tour http://www.homezonemedia.com/etour.html/TOURID/50056

7811 Regal Heron Ct. # 206 , Naples Florida

Dominic Pallini (Vanderbilt Realty of Naples) — Mon, 15 Aug 2011 05:23:00 -0700

Newly furnished 2 bed 2 bath/den condo in a central Naples location. This condo is in spic and span condition and is ready for a seasonal rental. Rental rate posted is for December thru April Occupancy. Owner will negotiate for a term of 60 days or longer and also will negotiate on off peak months. Break Away from the cold this winter and enjoy the tropical weather in Naples, Florida Click the link for the virtual tour ! http://www.homezonemedia.com/etour.html/TOURID/49638

225 Turtle Lake Ct # 312 ,Naples, Florida

Dominic Pallini (Vanderbilt Realty of Naples) — Mon, 15 Aug 2011 05:17:03 -0700

Location Location !! 2 bed -- 2 Bath has a great open feeling and a nice view of the golf course. Amenities of Turtle Lake include BBQ, Picnic Area, Bike Storage, Community Pool, Exercise room, Golf Course, Library and Shuffle Board. Only minutes to shopping and great restaurants. Click the link for the virtual tour http://www.homezonemedia.com/etour.html/TOURID/49608

4960 Rustic Oak Cir , Naples Florida REDUCED OVER $ 90,000

Dominic Pallini (Vanderbilt Realty of Naples) — Mon, 30 Aug 2010 08:43:49 -0700

Beautiful 3 bed with a den home in Banyan Woods a gated community off Airport Pulling Rd. in Naples Florida Now Priced at $424,900. The lowest priced home in the community. Act Fast this home will be sold quickly.Follow the link for more info. http://www.anapleshome4u.com/Listing/ViewListingDetailsAuthenticated.aspx?preview=true&listingid=1001705458

Beautiful Home in Banyan Woods , Naples Florida

Dominic Pallini (Vanderbilt Realty of Naples) — Sun, 08 Aug 2010 06:49:24 -0700

BANK OWNED in Pristine Condition.Three Bed , Three Bath Plus den. Nice kitchen with Granite Counters, GE Stainless Steel Monogram Appliances and Tile thru out. This home is loaded with upgrades, Complete sound system, Beautiful wood burning fireplace, Security system, Jetted Tub in the Master Bath and much more. Banyan woods is in a central location close to all conveniences with very low association fees. Look at this home today! You'll be glad you did. Priced at 514,000, Bank is looking at all offers

Villagio in Estero Closed Sales in 2010

Dominic Pallini (Vanderbilt Realty of Naples) — Sun, 08 Aug 2010 06:41:47 -0700

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	209034821	7
	210012513	7
	209028281	8
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	210014278	6
	210002178	8

Selling Price

Full Address

SubCondo Name

Bedrooms

Full Baths

Half Baths

Living Area

Year Built

Closed Sale Date

$137,000

20170 ESTERO GARDEN CIR W, #206

VILLAGIO

3+Den

1,828

2004

4/21/2010

$135,000

20170 ESTERO GARDENS CIR, #208

VILLAGIO

2+Den

1,667

2004

5/14/2010

$130,000

20201 ESTERO GARDENS CIR, #208

VILLAGIO

2+Den

1,667

2004

4/22/2010

$120,000

20320 ESTERO GARDENS CIR, #206

VILLAGIO

3+Den

1,828

2006

1/15/2010

$114,000

20140 ESTERO GARDENS CIR W, #107

VILLAGIO

2 Bed

1,192

2004

6/11/2010

$110,000

20140 ESTERO GARDENS CIR, #107

VILLAGIO

2 Bed

1,190

2004

2/22/2010

$105,000

20257 ROYAL VILLAGIO CT, #203

VILLAGIO

3+Den

1,828

2006

7/30/2010

$97,000

20260 ESTERO GARDENS CIR, #103

VILLAGIO

2 Bed

1,192

2004

1/20/2010

$96,500

10101 VILLAGIO PALMS WAY, #108

VILLAGIO

1+Den

1,170

2006

5/28/2010

$95,000

20257 ROYAL VILLAGIO CT, #103

VILLAGIO

2 Bed

1,192

2006

3/1/2010

$82,000

10009 VILLAGIO GARDENS LN, #105

VILLAGIO

1+Den

1,170

2006

7/7/2010

$76,500

20257 ROYAL VILLAGIO CT, #102

VILLAGIO

2 Bed

1,192

2006

4/27/2010

$72,000

20160 ESTERO GARDENS CIR, #104

VILLAGIO

1+Den

1,170

2004

3/12/2010

Floridians Please Vote No On Amendment 4

Dominic Pallini (Vanderbilt Realty of Naples) — Wed, 04 Aug 2010 09:26:35 -0700

Amendment 4 will be on the ballot in November. Amendment 4 changes the way local government can amend their land use plan. Any change in the comprehensive land use plan will have to go before the voters .Our local planning and zoning boards will not have the final say as to what changes are good for their local community instead the whole county would be voting on a change that many people would no nothing about. The cost to put every land use change on the ballots will be astronomical. The time for each citizen to make an informed vote will be overwhelming. The economy in the state of Florida is weak , we need to create new jobs thru construction of homes and new business.Amendment 4 will slow down the growth we need to overcome the downturn of this last recession. Say YES TO NEW JOBS and new business VOTE NO ON AMENDMENT 4 Dominic Pallini RE/MAX www.palliniSells.com dpnaples@gmail.com

Short Sale Or Foreclosure in Florida ???

Dominic Pallini (Vanderbilt Realty of Naples) — Wed, 28 Jul 2010 06:42:29 -0700

Foreclosure vs. short sale: pros and cons PALM BEACH, Fla. - July 28, 2010 - With today's reduced property values and increased unemployment, it's tempting for some homeowners to just throw their hands up in defeat, allow the bank to take their home in foreclosure and rid themselves of the monthly mortgage burden.Even suffering through the paperwork and stress of a short sale may seem too much for an overwhelmed borrower to handle.But Florida homeowners should be aware of unique rules in the state that make the benefits of a short sale typically outweigh the ease of walking away in a foreclosure."I want to be very clear on this, short sales are a better solution than a foreclosure, even when all the options in a situation where you lose your house are not great," said Mark Greene, owner and president of Short Sale Operations LLC in North Palm Beach.The biggest difference between Florida and many other states when it comes to losing a home is the deficiency judgment.While some states ban lenders from collecting the remainder owed on a loan after a foreclosure or short sale is completed, Florida law allows banks to go after borrowers for up to 20 years. That can lead to a garnishment of wages long after the home is gone.In a short sale, where the bank agrees to take a lesser amount for the home than what is owed on a loan, lenders sometimes are willing to write off the deficiency on the front end.Greene said in 90 percent of the cases he handles, the bank has waived its right to seek a deficiency.That was the case with Jupiter resident Kathryn Lorello, who in 2008 found herself in a home she couldn't afford.Following a divorce, and with three children, Lorello bought a $408,000 home that she lived in comfortably for a year. But then she lost her job as a manager of a real estate company.She remembers the day the bank served the notice of foreclosure."I cried my eyes out," Lorello said. "That's when I panicked because I really didn't want it to happen."Lorello got advice from Greene on doing a short sale.Her bank, Wells Fargo, waived its right to seek a deficiency even though it ended up taking $200,000 less than what was owed on the loan.Also, if a bank refuses to waive the deficiency in a short sale, it still would have to go back to court to seek a judgment.In a foreclosure, at the end of the proceeding, a deficiency judgment is automatically awarded by the courts and the bank is free to seek a claim."In the past, people just wanted to move from the property and get on with their lives and didn't understand what the lenders' rights were in terms of pursuing a deficiency claim," said Paul Baltrun, director of loss mitigation at the LaBovick & La-Bovick law firm."I think people are more aware now about what can happen after the fact and that their nightmare can continue."Another consideration is the effect of a foreclosure or short sale on credit.According to the Fair Isaac Corp., which developed the widely used measurement of credit risk called a FICO score, the negative effect of a foreclosure is only marginally worse than a short sale.But in Florida, a deficiency judgment from a foreclosure is likely to have a much larger impact that will prohibit your ability to buy another home for many years.Daniel Poulos, a mortgage broker with Elite Lending in North Palm Beach who has studied the effect of foreclosures and short sales on credit, said unless a borrower pays off the deficiency, it may be 20 years before someone is eligible for another mortgage."That's the kind of information that's not getting out in Florida," Poulos said.There are a few situations where some experts believe it is better for someone to go to foreclosure rather than do a short sale.To do a short sale, a borrower must give all of his or her financial information to the bank before it will decide whether to allow the short sale. The idea is that if a person can afford to pay the mortgage, the short sale may be denied."Now the lender knows everything about your finances and they can better decide whether they will go after you or not," said Jon Maddux, CEO of YouWalkAway.com, a company that advises people on strategic defaults.If a lender doesn't know your finances, Maddux argues, it reduces the chances it will go after you following a foreclosure."You might fly under the radar," he said. "With the millions of people going through this, they are probably going to go after the low-hanging fruit."Copyright © 2010, The Palm Beach Post, Fla., Kimberly Miller. Distributed by McClatchy-Tribune Information Services.

Real Estate Sales Tax Fears !

Dominic Pallini (Vanderbilt Realty of Naples) — Mon, 26 Jul 2010 06:53:15 -0700

WASHINGTON - July 26, 2010 - A viral email that keeps circulating seems to die out but then returns with a vengeance. Florida Realtors and the National Association of Realtors have received numerous calls from concerned members.The email incorrectly states that "all real estate transactions will be subject to a 3.8% sales tax." It then goes on to blame Democrats for inserting the language at the last minute into the recent health care package. To back up the email's message, it includes an attachment that looks like a newspaper article from the Spokesman-Review, a Spokane, Wash., publication.Part of the email is true: There is a new real estate tax that will help pay for Medicare, but it impacts a very small number of people. It applies only to sellers making more than $200,000 per year or $250,000 for couples.The email fails to include information on the article, however, which is actually an editorial opinion of an outside writer and not a news piece. It was written by a representative of The Washington Policy Center (http://www.washingtonpolicy.org/Centers/healthcare/index.html), which includes a link on its website outlining the group's stance on health care reform.The National Association of Realtors has created a page explaining the new law that includes rebuttals of the false email. It can be found here.A Washington Post article created a fictional couple with a joint income of $300,000 (over the $250,000 limit) that made a $600,000 profit on a home sale. In the example, the couple could pay a new real estate tax equal to about $1,900. Read more about the Washington Post example.© 2010 Florida Realtors®

Naple Florida Real Estate Market Stats For 2nd Quarter 2010 LOOK GREAT

Dominic Pallini (Vanderbilt Realty of Naples) — Tue, 20 Jul 2010 06:26:45 -0700

Naples Florida Real Estate Market is turning around in 2010 ! INVENTORY HITS 3 YEAR LOW Report Shows Increase in Median Closed PriceNAPLES, Fla.-July 16, 2010- Home and condo inventory in the Naples area continues to decline steadily. It is now at a 3-year low according to a report released by the Naples Area Board of REALTORS® (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island).The available inventory decreased 9 percent in the second quarter of 2010 to 8,845 properties, compared to 9,681 properties in the second quarter of 2009. "The 2 million plus price range saw a 24 percent decrease in inventory, the largest decline when compared to all other price ranges," stated Brenda Fioretti, NABOR President, and Managing Broker of Prudential Florida Realty.Inventory in the Naples area has now reached equilibrium between supply and demand with 11.3 months of inventory. According to Cindy Carroll, Vice-President of Carroll & Carroll an independent fee appraisal firm in Collier County with over 24 years experience, "I find a neighborhood has achieved equilibrium of supply and demand when the number of current listings equals the number of sales in the prior 12 months."The one million and above price range showed the greatest increase in pending and closed sales. In the second quarter of 2010, pending sales increased 38 percent and closed sales increased 48 percent compared to the same quarter last year. "We are continuing to see strong activity in these price ranges in July and expect a reasonable level of sales throughout the summer," stated Phil Wood, President of John R. Wood REALTORS®. The second quarter report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges, geographic segmentation and includes an overall market summary. The statistics are presented in chart format, along with the following analysis: · Overall pending sales saw an 8 percent increase, with 2,807 contracts in the second quarter of 2010 compared to 2,600 contracts in the second quarter of 2009. · Overall home sales for the 12 months ending June 2010 increased 42 percent with 8,173 sales compared to 5,744 sales for the 12 months ending June 2009. · Single-family sales increased 8 percent with 1,215 sales in the second quarter of 2010 compared to 1,127 sales in the second quarter of 2009. Single-family pending sales in the $1 million to $2 million price range increased 61 percent with 92 contracts in the second quarter of 2010 compared to 57 contracts in the second quarter of 2009. · Condo sales increased 31 percent with 1,270 sales in the second quarter of 2010 compared to 968 sales in the second quarter of 2009. The overall median closed price increased 14 percent to $200,000 in the second quarter of 2010 up from $175,000 in the second quarter of 2009. "The price range that showed the largest increase in median closed price was the under $300,000 category with a 10 percent increase to $140,000 in the second quarter of 2010 compared to $127,000 in the same quarter last year," stated Mike Hughes, NABOR Media Relations Director, and Vice-President of Downing-Frye Realty.The June report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges, geographic segmentation and includes an overall market summary. The statistics are presented in chart format, along with the following analysis: · Overall pending sales increased 4 percent to 847 contracts in June 2010 compared to 813 in June 2009. · For the 12 months ending June 2010 single-family home sales increased 31 percent with 4,181 sales compared to 3,183 sales for the 12 months ending June 2009. · Condo pending sales for the 12 months ending June 2010 saw a 55 percent increase with 4,759 contracts compared to 3,073 contracts for the 12 months ending June 2009. To view the report, go to www.Naplesarea.comThe Naples Area Board of REALTORS® (NABOR) is an established organization (Chartered 1949) whose members have a positive and progressive impact on the Naples community. NABOR is a local board of REALTORS® and real estate professionals with a legacy of nearly 60 years serving 4,000 plus member-customers. NABOR is a member of Florida REALTORS® and the National Association of REALTORS®, which is the largest trade association in the United States with more than 1.3 million members and over 1,400 local boards of REALTORS® nationwide. NABOR is structured to provide programs and services to its membership through various committees and the NABOR Board of Directors, all of whose members are non-paid volunteers.