poinciana fl: Poinciana Short Sale Approval From Fifth Third Bank in 16 Days - 09/19/09 11:03 AM

Another successful Short Sale approval in Poinciana Florida.
Property Value: $85,000 to $90,000
Amount owed: $185,000
Hardship: Loss of rental income on several rental properties (this one included)
Loan details: Fannie Mae with Mortgage Insurance
Property was placed on the market on May 8th for $109,000.
The price was slowly dropped until it went pending on June 10th at $85,000.
After about 6 weeks Fifth Third came back wanting the Seller to bring $35,000 to closing. The Seller offered $1,000. The transaction fell apart and the Buyer walked.
The property was placed back on the market on August 20th. On … (15 comments)

poinciana fl: The Cyclical Nature of Real Estate Illustrated. - 07/22/08 07:51 AM
Hi there. In this post I'm going to explore the history of a couple of recent foreclosures (REOs) that have just been placed under contract (pending). I figure this little exercise will give you some incite on the cyclical nature of real estate and property values. 
Both of these properties were sold by me, prior to opening up Tutas Towne Realty, 10 years ago. 
The first one is a 3 bedroom 2 bath pool home with 1670 sq ft of living area built in 1991 and sits on a ½ acre lot. 
I met the original owner of this house back … (37 comments)

poinciana fl: There is now help for Florida homeowners! - 07/10/08 09:05 AM

Hi folks. Here's an update on the foreclosure situation in Florida. I read an article earlier today on our Florida Association of Realtors website stating that Florida has 77,000 homeowners in foreclosure!!! This is second only to California.  
I also spoke to a loss mitigation negotiator at Countrywide yesterday who mentioned Countrywide, or I guess Bank of America now, has 76% of the Nation's foreclosures and that they are expecting this number to increase in August when ARMs (adjustable rate mortgages) are set to adjust again. EDIT:< Is this figure accurate? I don't know but it does line up with what I am … (14 comments)

poinciana fl: Are you looking for an affordable home in Poinciana FL? - 06/30/08 09:34 AM
Look no further than this. Large 3 bedroom with over 2100 sq ft living area. Ceramic tile flooring in kitchen and dining room. Solar tinted windows. Very spacious floor plan. Needs carpeting. Folks this is an opportunity to own a large well priced home without waiting on a short sale approval. Sits at the end of a cul-de-sac on an over sized lot with no rear neighbors. Formal living and dining rooms. Family room off the eat in kitchen. Master bath has garden tub and separate shower. Solar tinted windows. It's waiting on you.....so act today! THIS IS NOT A SHORT SALE!!!

poinciana fl: Do you know where your business comes from? - 06/27/08 09:46 AM

Hi folks. Here's a little chart I made today that I want to share with you. I made this so I could see where my business is coming from. 
What this chart shows me is that 45% of my business comes from referrals and repeat customers, 35% comes from my expired letter, 15% comes from the Internet and only 5% came from a sign call. 
It also shows me that 35% of my current business is in Short Sales(SS). 85% is with Sellers and 15% is with Buyers. 
I did this little exercise so I could see what my strong … (32 comments)

poinciana fl: MoJo Risin' in Poinciana FL. - 06/25/08 09:24 AM

Hi folks. This post is about finding your MoJo. As most of you know, my market, Poinciana FL has one of the highest foreclosure rates in the country. I heard it could be as high as 1 in 7 homes. That's about 15%. So needless to say it has been a very difficult year for selling real estate, thus far. BUT......I'm starting to get my MoJo back!!! 
About 3 months ago I decided I needed to quit my whining about the market and make changes in my business. Based on what was happening in the market I had 3 … (27 comments)

poinciana fl: Poinciana Short Sale Deal. 675 Reindeer Dr Kissimme Fl 34759 - 06/11/08 08:22 AM

$119,000 > This is a SHORT SALE and will require 3rd party approval.   Beautiful pool home with ceramic tile flooring throughout, travertine in the master shower, updated fixtures, solar heated inground pool, family room, heavily landscaped lot, new roof in late 2004, new AC in 2001 and much much more. Let this be you own tropical paradise. A place to call home and to build memories. Act today!

Copyright © 2008 http://www.brokerbryant.com/ … (22 comments)

poinciana fl: Tenants beware. Your cash may be nothing but trash!!! - 06/07/08 09:14 AM

Hi folks. I was on the phone early today speaking with a Legal Process Server, you know, the people that serve foreclosure papers. This server, Tammy, was talking to me about her job and how busy she has been, swamped, was the word she used. According to her she has been spending most of her days delivering papers in Poinciana and Davenport FL. 
Poinciana, of course, is my market area and Davenport is an area near Disney World that is predominately short term rental vacation homes. This market has also been hit real hard. With the declining economy, folks are … (36 comments)

poinciana fl: Investor Deals and Market Data for Poinciana FL. - 05/20/08 07:31 AM

OK....this one should be fun!! This post is to explore current market conditions in Poinciana FL. Also, this is my opinion of what's happening in the Poinciana FL market and where I think it's heading. 
First let's get into some cold hard data. All of this data was pulled from the Mid-Florida Regional Multiple Listing Service (MFRMLS) on 5-20-2008. It is deemed reliable but is certainly not exact. The data is for Poinciana neighborhoods and does not include Solivita, Crescent Lakes, Cypress Woods or Lake Marion Golf resort. 
Today, there are 1,170 properties for sale(active). The average property being a 3 … (18 comments)

poinciana fl: Real Estate Investor Opportunity in Poinciana FL. - 05/14/08 08:43 AM

Calling all Investors!! Housing prices in Poinciana Fl. Are low. Real low. In fact, there are about 35 homes, available right now, that are less than $100,000. These are bank owned properties (REOs) and are NOT short sales. This means they can and will be purchased quickly. 
A great example is a 3 bedroom 2 bath home with 1809 sq ft living area built in 2006. This house has never been lived in and is priced at $96,900 or $53.57 per sq ft!!! Folks, that's incredible. You can't build a house for that price. This property would easily rent for $900 … (27 comments)

poinciana fl: The Price is Right In Poinciana FL...So Come On Down!!! - 05/12/08 10:25 AM
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.
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 … (31 comments)

poinciana fl: Short sales, 1099s, promissory notes and.......DUH!!! - 05/05/08 08:25 AM
Hi folks. Richard Zaretsky wrote a great post yesterday titled "Back to Basics...a Review on Short Sales". If you haven't read it please take a few minutes to do so. It is a very good perspective on Short Sales from an Attorney.
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 … (29 comments)

poinciana fl: Poinciana Fl Real Estate Report. HELP!!! - 04/28/08 09:23 AM
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, … (27 comments)

poinciana fl: How about some fish, a show and some land? - 04/23/08 08:23 AM
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.
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 … (38 comments)

poinciana fl: Seller Participation Market Analysis. - 04/19/08 11:55 AM

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 … (78 comments)

poinciana fl: Poinciana Home Sellers.....I have something for you. - 04/16/08 08:33 AM
Dear Mr and Mrs Homeseller,
I hope this email finds you doing well. In this more difficult real estate market it's important that we get as much exposure as we can for your property. Statistics show that most Buyers(about 80%) start their home search on the Internet these days. The Multiple Listing Service (MLS) and a sign in the yard won't cut it.
So, if the Buyers are on the Internet....then your property needs to be there as well. Anyway, here is a sampling of Internet sites where your property is currently being displayed.
TRULIA CLRSEARCHZILLOWCRAIGSLISTREALESTATESHOWSBUYPOINCIANAHOMESCYBERHOMESPOINCIANAPROPERTIESPOSTLETSYour property has also been syndicated through my web site http://buypoinciana.com to another … (28 comments)

poinciana fl: Buyer in Poinciana has her S.H.I.P. come in! - 04/11/08 11:11 AM
Today, I had a closing where the Buyer almost didn't close. It seems the closing costs were about $800 higher than expected. I wasn't on the Buyer's side so not quite sure where the issue came in.
Probably just first time home buyer jitters and some lack of communication between the Buyer and her mortgage broker. Eventually though the Buyer came around and the deal closed.
I'm so glad it did. Not only for my Seller's sake but also for the Buyer's. Here's why.
The Buyer was getting down payment assistance through a program named S.H.I.P. This is the acronym for "State Housing Initiative … (29 comments)

poinciana fl: The reality of being a listing Broker in Poinciana FL. - 04/04/08 08:05 AM
Hi folks. Did you know that in the last 24 months I have had 42 withdrawn or expired listings!!! "But Broker Bryant....you are a pricing expert. How could you possibly have that many listings you could not sell?"
Well that's a good question. Let me see if I can answer it. First, let's break it down and see what happened to those 42 listings.
8 listed with another REALTOR®.9 of them went into a rental program at my suggestion.7 of them unfortunately were foreclosed on. 17 are waiting for market conditions to change.1 sold with another REALTOR®.During this same 24 month period … (27 comments)

poinciana fl: I wish this was an April Fool's Day joke. - 04/01/08 08:14 AM
I wish I could say this was an April Fools Day joke.....but it's not. It's my March market report for Poinciana FL.
The following is the reality of the market in Poinciana.
There were 31 closings for March. This is actually a 50% increase from February. So that's a good thing.
The average sale was a 1857 sq ft home listed at $140,201 and sold for $137,609 in 131 days. $75 per sq ft living area. The sold price is down about 5% from February.
Out of those 31 sales, 21 one of them were banked owned properties(REOs). 4 were short sales. 2 … (28 comments)

poinciana fl: Be Tenacious and get 'er done!! - 03/29/08 05:18 PM
For the last week or so I have been communicating online with a potential Seller. She's one of those Sellers we all like. Knowledgeable, very friendly and to the point.
She currently lives in a very nice pool home in Poinciana but has to commute to Lakeland everyday to go to school. She rides the bus so it's about a 2 hour trip each way.
So needless to say, she would like to sell in Poinciana and move to Lakeland. Anyway, after about 4 or 5 email conversations, I finally decided I needed to make an appointment to stop by and look … (85 comments)

Bryant Tutas, Selling Florida one home at a time (Tutas Towne Realty, Inc and Garden Views Realty, LLC) Rainmaker large

Bryant Tutas

Selling Florida one home at a time

Winter Garden, FL

More about me…

Tutas Towne Realty, Inc and Garden Views Realty, LLC

Address: 628 Grand Canal Dr, Poinciana, Fl, 34759

Office: (407) 870-9003

Mobile: (407) 873-2747

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