joe murphy: New Lease Option program for Florida buyers could be a game changer - 08/07/14 02:58 AM
This week our Coldwell Banker Regional meeting there was the annoucment for a new lease option program that will give thousands of home buyers a new option who may not have qualifed for traditional financing options, or were not looking to make a long term commitment.
Hyperion Homes is the investment company, and unlike many other instituional home buyers these guys are more focused on the buyer/renter.  
what makes the the lease option program so unique is once a buyer is approved, they can work with their realtor to find the ideal home that fits within their budget.  Once … (0 comments)

joe murphy: Updated Classic Florida Pool home with a lake view and 1/2 acre - 01/09/14 12:13 PM
Just Listed! 3/2 Pool home in Creekwood Bradenton, FL
$249,900 Asking Price

MLS M5942975
5116 73rd E ST
Bradenton, FL 34203
Creekwood Subdivision
Joe Murphy, Realtor, Broker-Associate
Coldwell Banker Residential Real Estate
(941) 780-3260
This home is immaculate and has been recently been majorily updated.  Newer Roof, A/C and Hot water heater,  Stainless Steel Appliances too!  
Listed by Joe Murphy with Coldwell Banker Residential Real Estate here in Bradenton, FL . 
I consider this a perfect "Florida Home"  With an open layout, vaulted ceilings, and plenty of sliders leading out to the extended Lanai area.  You really can … (2 comments)

joe murphy: Just Listed- Bank owned home for sale in Harrison Ranch Parrish, FL - 11/14/13 03:03 AM

Bank owned home for sale in the Harrison Ranch subdivison in Parrish, FL 34219.
MLS # 5841810
This is a 4 bedroom 2.5 bath Great Room home with a great fenced back yard, and lake views.  The home features brand new carpet in all the bedrooms, and has been completely painted inside.
The Great room has 20 foot high ceilings, and wood floors.  The Kitchen opens to the great room, and plenty of sliders extend the living to the screened in Lanai.  
Out back, you can enjoy the fenced back yard, kid's playground set, and a great lake view.

joe murphy: Just listed home for sale in Heritage Harbour M5841658 - 11/13/13 09:20 PM

Immaculate Solar Heated Salt Water Pol Home with Southern Rear Exposure will Impress!
This is a Dover Flex Model, one of the most popular built in Stoneybrook @ Heritage Harbour.  Features an open layout with Flexibility to be a 2 bedroom or 3 bedroom home also with a bonus area that can make a great additional living area, or even another den.  Master Bedroom features dual sinks in the master bathroom, and a seperate tub and shower.
Upgrades include Plantation shutters, tray ceilings, Corian counter tops, wood cabinets, Southern rear view, updated carpet, neutral tile.
Stoneybrook is a Gated, … (2 comments)

joe murphy: Manatee real estate inventory stable?- The numbers don't lie (2009 in Review) - 01/11/10 06:21 AM
This past 4th quarter has been busy as compared to the previous year.  This can be attributed to the 8,000 first time home buyer tax credit, and also to the lower overall sales prices.  
In December there was 442 SALES compared with December of 2008 when only 328 homes closed.
Pending sales have also increased with December's having 481 homes go pending, compared to 348 in December of 2008.
Overall inventory has seemed to level out through the last quarter of 2008 with inventory hovering around 4,700 total units.  From my unofficial perspective the typical jump in inventory for … (1 comments)

joe murphy: Is selling your home as a short sale worth the work? - 12/22/09 03:55 PM
So you have to sell your home, but you owe more than it is worth. Here are your options if you have to sell.IF you would rather stay in your home, but are having trouble afford the payments a loan modification should be your first step.  
Tried to modify and the payments are still to high.  ( I can help with this too.)  Need to relocate for work or change in family reasons. Can't afford to stay in a home that has too high of a mortgage payment. Your property is "UNDERWATER", and you are prepared to walk away … (3 comments)

joe murphy: Waterlefe Golf Cart Parade- December 15, 2009 at 6pm - 12/13/09 03:13 PM
We have been living here in Waterlefe golf and river club since 2003 and the annual holiday golf cart parade is an event that we look forward to every year.
Last year there was over 25 carts, and about 10 motorcycles, all decked out with holiday decorations, and plenty of lights.
Even Santa Clause was there too!
The parade starts at 6pm in front of the river club.  From there the route will lead through the majority of the neighborhood.
After the parade, there is a nice holiday party, with a buffet served and live music too.  Reservations can be made … (1 comments)

joe murphy: What happens when half of Florida's Homeowners are "underwater"? - 12/13/09 11:25 AM
What does it mean too the market if half (48.5%) of the homeowners with mortgages, owe more than their home's worth?
With this kind of grim statistic it could be easy to get pretty down on the market, but I think it could be worse.  The Wall Street Journal's report shows the percentages of homes that have mortgage balances over the value of the property.
Some Considerations:
The majority of the short sales and foreclosures are homes that were either bought, or refinanced during the housing boom years of 2004-2006.   Pretty much all homes in the Manatee County market are worth about 20-50% … (8 comments)

joe murphy: Vote to allow judges to reduce principle balance on loans TODAY....take action - 12/10/09 02:17 PM
Loan Modifications with PRINCIPLE REDUCTION does not happen hardly at all.  It should, and it makes sense.  This is a good call to action, and I would support this bill.  Please spread the word if you can

In the next 2-3 years, it is estimated that there will … (0 comments)

joe murphy: A Short sale deal that fell through, and I couldn't be happier! - 12/10/09 01:24 PM
I just withdrew a short sale listing off the market.  It was a typical short sale.  The owners were having a struggle making their payments, and then one got laid off from work.  The bill collectors start calling, and they start getting behind in the mortgage.  I meet with the owners and gave them their options.
1.  Try to work on a Loan Modification.(which they had been doing.. unsuccessfully) , OR,
2.  Start the short sale process.
They had tried, as many do, to do the loan modification on their own with no success.  I did not "do" their loan modification.  I only gave them advice … (9 comments)

joe murphy: Did You Know? Deduct taxes paid on a new vehicle purchases -ends 12/31/09! - 12/09/09 02:33 PM
Taxpayers who buy a new car or several other types of motor vehicles this year may be entitled to a special tax deduction when they file their 2009 federal tax returns next year. The tax break is part of the American Recovery and Reinvestment Act of 2009.  Thanks to our local news station for helping to get the word out ABC Action 7 news here in Sarasota.
And you don't even have to bring in a clunker either.  It would be nice if this credit did not have such a quick expiration. 
I had just found out that as part … (2 comments)

joe murphy: Interesting home valuation site from BofA - 12/09/09 01:41 PM
This entry discovered a great site that Bank of America uses to evaluate home value.
If you ever wondered what Bank of America thinks your home is worth, you can just type in the address and there you go!

It has been a while since i put pen to paper.  Just been so busy i haven't found time or energy.  My apologies to my loyal fan!!
I found this site thanks to a great resource. 
Someone suggested checking the value in the case of BofA short sales.   You simply go there and type in the address you want. 

joe murphy: 2151 Datura Street Sarasota, FL 160,000 - 12/03/09 01:28 PM
Just Listed!  Short sale! This one is exceptional.  Location is superb.  you can be downtown in minutes. The beaches are super close too.
2 bedrooms, 2 full baths, and a one car garage.
The home has been updated with a new roof, and updated master bathroom.  Newer bamboo floors, and tasteful tile in all living areas.
Completely fenced back yard, with one of the largest oak trees I have seen in a while!
Call Joe Murphy today to see this amazing short sale deal.  941-780-3260
 New roof, updated interior, great location too.

joe murphy: New listing 1/2 acre 275,000 - 3720 38th Ave East Bradenton, FL 34208 - 11/30/09 07:41 AM

Just listed this rare newer home built in 2007.  Has a great big lot, and NO DEED RESTRICTIONS!  Easy drive to SR 70, and Sarasota or Bradenton. 
The home features upgrades uncommon for a home in the area.  Granite Counter tops, wood cabinets, tile floor in the main living areas, and plenty of details that make this a fine home.  3 Full bedrooms, 2 Baths, and a separate den.  The home also has a spacious three car garage.
Call me today if you are interested to see this great house.  Move in ready, and ready for you today!
Joe Murphy, … (0 comments)

joe murphy: Where are all the bank owned homes? - 11/22/09 04:25 PM
It was front page news that the number of foreclosures filings here in Manatee County has had 5687 foreclosure filings to date this year, which is an increase from last year.  This is a lot of homes and as an active agent it made me wonder where are all the bank owned inventory?
There are 4696 total active residential listings as of this evening (11/22/09). 474 "normal" are pending There are 149 active bank owned homes 123 pending There are 920 short sales active there are 940 pending The Statistics show two big things.
The action is happening on bank owned, and … (4 comments)

joe murphy: Are New Home sales pulling down market values? - 11/20/09 09:03 AM
I have been working with a buyer this week, and after seeing all the resale inventory including short sales, and foreclosures they decided on a new build.  What is amazing to me is that the deal they got with the local builder is BETTER than any of the comparable resales in that area.
A resale home that was essentially the same home as they purchased was an option, BUT it was 45,000 dollars more, and a SHORT SALE too.  The new construction will take 8 months to close, but a short sale can take 90-180 days to close.  Plus the new … (5 comments)

joe murphy: Obama signs the First Time home buyer extension.. a collective sigh of relief. - 11/06/09 08:01 AM
It's finally really here.  Of course, this is a little old news, as people have been saying that the tax credit was approved fro the past week.  Nothing is in stone until the President signs the bill into law.
It would have been nice if this could be extended to ALL home buyers.  This would cause the investors back in the market in droves, and snapping up all the investment homes.  Could you imagine buying a rental home for 50,000 and getting back 8,000 of your taxes? 
Kind of like when everyone was driving HUMMERS because they could write off the … (5 comments)

joe murphy: Conflicts of interest? Loan servicer pulls one on the investors too. - 11/03/09 09:47 AM
I just attended a Foreclosure rescue seminar this past weekend. One of the things that  I learned is their is another victim besides the homeowner, the INVESTOR.  These "mortgage backed securities" were supposed to be safe investments.  Triple AAA rated, SAFE, reasonable returns.  The kind of investments that were sold as low risk.  They too are being burned in this real estate bubble.
The people in the middle: servicer(s), and the firms that sold these mortgages to the investors got their profits and no consequence.   
 The homeowner loses their home and credit, and the INVESTOR that actually put up real money, takes the loss.  No one … (2 comments)

joe murphy: Can a Short Sale get approved for a Seller that does not provide financial info? - 10/09/09 02:05 AM
I have been doing short sales for quite a while.  Some things have changed. Today I got news that one with no Financial info provided was verbally approved.
Then-Hardship letter were more critical.  Divorce, Death, Relocation for work or Job loss were the situation with most sellers 3 years ago for short sales.  At least I thought so.
Now-  With many people doing strategic short sales who have much less "dramatic" hardship letters.  Slight income loss, will work just fine now for most deals.  Some of the sellers could afford the mortgages, but they do not want to keep paying for a … (1 comments)

joe murphy: My 2 year old saves a life, and teaches dad in the process - 09/30/09 06:39 AM
We were splashing about in the pool.  My son is not quite swimming yet, so we have to watch him carefully,  The pool we were using at our club is outside, and there are a number of coconut palms around.  One game we with the kids is fetching baby coconuts as a diving game. My daughter is quite a good diver, my son meanwhile hunts for fallen coconuts to use for the game.

"Daddy, Tete is in the pool".  Probably just a coconut I think, but I investigate.  It is a baby gopher tortoise just barely a week old.  It looked a lot … (1 comments)