Tucked way back off the major roads is this quaint little spot called Bonaventure. If you haven't been there and are looking for a property please drive back there to see the huge oaks, and layout of this quite complex. This is where I have a listing that is just what the First time home buyer may be looking for. Priced to SELL with Owners motivated, this 2 bedroom split floor plan condo is only a short walk to the Pool and Excercise Room. The Lanai area contains a storage unit for your washer and dryer, is open but screened in, and a perfect location to have that moring cup of Java.
For those cool winter nights you have a WOOD BURNING FIREPLACE!! Perfect if you want to just snuggle up with a great book or watch some TV while the fireplace keeps your home warm and toasty inside. No need to turn on the heat or worry what to do if the electric goes out!!!
Location is Great with CLEARWATER-ST. PETERSBURGS AIRPORT AND TAMPA INTERNATIONAL AIRPORT just minutes away. Countryside Mall is within 10 minutes (mol), and International Plaza is close by. All your favorite restaurants are close by, along with many of our famous beach areas!
Maintenance is reasonable and covers most everything. Kitchen is Large and has all your Major appliances. Plenty of Storage space and a huge pantry. Large Master bedroom with Master Bath and walk in closet and this happens to be a GROUND FLOOR UNIT. Best part of this is that it is NOT A SHORT SALE!
Katie Creek
727-415-4669
Florida Luxury Realty
http://RealEstateHomesFlorida.com
The following article appeared on Housing Watch by Alyssa Kalz, January 25, 2010.
After sending it email to many of my friends I got such feedback that I wanted to share this with many of you.
THE NEW MORTGAGE REVOLUTION: WALK AWAY!!!
Big real estate developers do it all the time - like yesterday, when the owner of New York City's Stuyvesant Town complex decided to stop paying its $3 billion mortgage. So why are you still writing a check every month on that mortgage that's much bigger than your home is actually worth?
Good question, University of Chicago economist Richard Thaler says. Thaler tells New York Times readers that it's not just alright to walk away from one's over-sized mortgage -- it may actually be a moral imperative. (An earlier Times article, by Roger Lowenstein, said much the same thing.) After all, lenders had no second thoughts about lending more than many borrowers could afford or than the homes might actually be worth. It's just not fair to expect borrowers to follow rules that the lenders don't.
But why stop there? Some commentators are now calling on borrowers to start a mass mortgage strike.
"Remember burning draft cards? Burn your mortgage," the blog DailyKos told readers recently:
"The real risk to the banks and investors is that the people in those homes might just decide to walk away. And that's what we must do. Doesn't have to be everybody, of course; but anyone who finds themselves seriously underwater with no hope of ever recouping their investment....just walk away Renee. Morality has nothing to do with it. You are a cog in the wheel of a machine that is killing this country and if you remain a cog you enable it. Remove your cog and the machine will not keep running. Remove millions of cogs and the machine gets replaced."
Now the call for a borrowers' revolt is being joined by folks who know an opportunity when they see it: real estate agents. Over the past month, agents have been rushing to declare 2010 "the year of the strategic default." Here's Connecticut Realtor Minna Reid:
Loan modifications do not address the real problem of heavy negative equity and are sure to fail most of the time. Even if the homeowner lowers their current payment they are left more trapped than ever. There will be no quick recovery this time. Years later when there is a need to HAVE TO move, the original problem of being upside down remains and the modified homeowner is left to short sell or foreclose once again.
Isn't it better to just cut the losses upfront ?
I know many will consider strategic default wrong or immoral, but as for me, I stopped passing judgment long ago.
Reid is far from the only real estate agent using mass revolt against the banks as a sales strategy. San Diego broker Bob Schwartz asks, "How many homeowners will suddenly wake up to the fact that their home is now worth tens of thousands of dollars less than their mortgage balance? Only the naive will believe that their San Diego home's value will bounce back anytime soon.... Defaulting "strategically" can entice more walk-aways by buying all the major items they may need in the near future, such as a car or even a house, right before they take a hike. As long as you stay current with other mortgage lenders, one could potentially have a good credit standing in 2 years after the walk-away."
And Phoenix agent Bob Stahl joins the chorus, assuring borrowers that a strategic default followed by a short sale won't hurt their ability to get a mortgage in the future.
Many of the agents calling for a mass movement of strategic defaulters specialize in short sales -- selling a home for less than the mortgage on it – something that mortgage servicers will often only consider once a borrower has begun to miss payments. It's ironic that after years of helping push prices up to maximize commissions, real estate agents are now pushing borrowers to dump their properties in short sales, so they can jump in and close a deal.
Still, they may be on to something.
Calling for mass strategic defaults is the equivalent of shouting "fire" in a crowded theater, prompting a stampede to the exits, and stampedes can leave a lot of people hurt – in this case, all the homeowners who live next door to the borrowers who stop paying, and suddenly see their property values plummet.
But there's also potential for millions of borrowers to gain if strategic defaults occur on a large scale. Nearly one in four borrowers nationally owes at least 20 percent more on mortgages than their home is actually worth, and in Nevada and Arionza it's more than half. The Wall Street Journal reports that about 1 million borrowers deliberately decided to stop paying their mortgages in 2009, or one in four of all mortgage defaults. When a critical mass of borrowers stops paying, it makes lenders – really, we're talking about the investors in mortgage-backed securities -- a whole lot more receptive to the idea of lowering the principal borrowers owe on their mortgages to persuade them that it's worth continuing to pay.
"People are spending far more on mortgage and ownership costs than they would to rent the same unit and there is almost no realistic prospect that there will ever get equity in many of these homes," says Dean Baker, co-director of the Center for Economic and Policy Research and author of the book False Profits: Recovering From the Bubble Economy. "Walking away will save them money and also free up money for consumption, thereby providing a boost to the economy. Banks will likely be far more forgiving of people who default in this crisis than they would ordinarily be. This isn't altruism -- they want to be able to make loans."
This is just one of the articles in Housing Watch...Here's the link:
http://www.housingwatch.com
Katie Creek
727-415-4669
kdsrealestate@yahoo.com
IN THE HEART OF DUNEDIN
• 1,176 sq. ft., 2 bath, 3 bdrm single story - 
MLS® $139,900 - ESTATE SALE
Willow Woods, Dunedin - NEW PRICE, PAINT and CARPET in this ESTATE IN THE HEART OF DUNEDIN. Great community, great area, and fantastic location!!! This 3 bedroom, 2 bath, 1 car garage vaulted ceiling home is much larger than it appears. Eat in Kitchen area with Refrigerator, Range, Microwave, Dishwasher and Pantry. Plenty of kitchen cabinets for those extra pots and pans!! Living/Dining/Great Room Combination with Cathedral Ceilings, with walk out sliders to the Large Lanai. Great Master Bedroom with walk in closet and private bathing area, also boasts sliders to the outside Lanai where you can view the pool and tennis courts. Master bath with setting area and closet holds plenty of your linens! 2nd and 3rd bedrooms are both generous with large wardrobe area. Tile in Both baths.
Low Maintenance Fees of only $85. a month includes: Lawn, Cable, Trash and Grounds upkeep. American Home Shield Home Warranty is already in place along with a termite contract all transferrable to buyer! OWNER WANTS SELL!!!!
Property information
I just received the following from my title company. This may help if your possibly thinking about a Short Sale and moving to another location.
Here are the Guidelines, see if you qualify!
Government Announces Short Sales Guidelines
The U.S. Treasury Department announced new guidelines this week designed to make short sales go more smoothly.
Scheduled to launch in April 2010, the Home Affordable Foreclosure Alternatives Program (HAFA) will offer up to $3,500 in incentive payments to qualified borrowers, servicers and investors who complete short sale transactions for properties with loans on the verge of foreclosure.
HAFA allows the borrower to receive pre-approved short sale terms before the property is listed and frees them from future liability for the debt. Also, servicers utilizing the program are prohibited from requiring a reduction in the real estate commission agreed to in the listing agreement.
To qualify under these new guidelines:
- The property must be the home owner’s principal residence.
- The home owner must be delinquent on the mortgage or close to defaulting.
- The loan must have been made before Jan. 1, 2009, and be for less than $729,750.
- The borrowers’ total monthly mortgage payment must exceed 31 percent of their before-tax income.
The following incentives will apply:
· The borrowers will receive $1,500 from the government for relocation expenses.
· The mortgage-servicing companies will receive a $1,000 from the government to cover administration and processing costs.
· Investors who hold the first mortgage will receive up to $1,000.00 from the government for allowing the second-mortgage holders to receive up to $3,000.00 of the sales proceeds in exchange for releasing their liens.
In total, each transaction under HAFA will cost the Treasury up to $3,500 in incentive payments.
Borrowers who complete a short sale under the program must be "fully released" from future liability for the debt, according to the guidelines.
Courtsey Keystone Title
Port Richey, FL
Katie Creek
727-415-4669
www.RealEstateHomesFlorida.com
As the economy continues to get blasted from all ends, mainstream Americans are seeing their homes value continue to plummet. Recent reports show that more than 23% of people that have a mortgage on their property owe more than it is worth. Another 2.3 million that are within 5 % of being underwater (meaning, owing more than their home is worth) bringing the total to approximately 28 percent.
Being a Realtor in these tough times is not the easiest thing in the world to do. Owners can’t get out of their homes to take on another job, or afford to retire to another location if they would like. Their previous “nest egg” has seen much better days, and walking away from a home may not be the best option for them. Although, I have to admit, I have seen it done.
With all the Federal Programs out there to help people now, you would think that the lenders would be willing to help out these people however; only about one in five actually are getting help from the lenders. It seems that they would prefer to foreclose on a property than to try and help the owners stay in their homes. So, let’s take a look at the picture from my point of view.
Lender not willing to help owners,
Lender then proceeds with the Foreclosure Process
Lender hires an attorney (not cheap)
Attorney files all paperwork
Now were in the court house stage, where this could set for a year or so.
Meanwhile, owner is living on or in the property without paying anything to lender.
Short Sale may be an option. However, owner may not have cash to bring to closing table.
People then move, via Short Sale or Foreclosure.
Have you any idea what the price tag of this maybe? Needless to say if the house has been abandoned, repairs may need to be done, lawn needs to be mowed (extra expense as county will mow) or anything extra that may need to be done could fall back on the lender. However, most sales are “as is” therefore, you better know what you’re buying.
In the meantime, the lender has lost a year or so worth of payments, had to pay an attorney, perhaps even a Realtor. I have said it before and I’ll say it again. If a lender can afford to give someone access to a home for 4% interest to start, do you think that this lender is making money? Of course they are! Just not as much as they would like to up front, but plan on it, on the back end.
With that being said, while the Lenders are giving themselves HUGE BONUSES you, the average, hard working middle class American take the hit for more taxation and more control by the Government!
Wall Street and the Players of bigger Government have proven to us repetitiously, that they cannot restraint themselves when it comes to the American Taxpayer Monies. This being said, if we don’t soon find ourselves someone with real common sense when it comes to matters such as these we may want to consider what our next lifestyle may be. Perhaps a commune?
UNDERWATER MORTGAGES:
California: 35 Percent
Michigan: 37 Percent
Florida: 45 Percent
Arizona: 48 Percent
Nevada: 65 Percent
Katie Creek
727-415-4669
www.RealEstateHomesFlorida.com
A few months ago I had the privilege of watching Glenn Beck. He is a huge fan of mine as I feel he is one of the most upfront commentators on the tube today. The episode that he had on was a chilling tale of what we may be headed for and I think that most Americans would agree that History just may be repeating itself again like it has so many times in the past.
Even though this video is now 9 months old, it’s nice to review the chart he created of the American Home sales where they were in what era (which got my attention as a Realtor) and where they may actually be headed. Because many of you do not work in Real Estate you may not feel the same effects that I do, but I think it would behoove us all to take notice of this video and think about it seriously.
http://glennbeck.com/content/articles/article/198/22010/
Since this has been broadcasted we have had the First Time Homebuyers Program, a National Stabilization Program, a Lease Back Program and now a tax credit for people that want to move if they have been in their home for 5 years or more.
Interest is remaining low and is projected to creep up gradually. Inventory is still quite high here in the State of Florida, and the prices are exceptional. All of these incentives for you to move or to buy a home and yet today, a national poll states that only 5% of American expect to move this coming year.
Please watch this video and give me your feedback. I would love to hear what your opinion is of this either way....good or bad.
As they Say "the proof will be in the pudding".
Katie
727-415-4669
http://www.RealEstateHomesFlorida.com
As we both know, it won't be long before the snow starts to fly!! Therefore, it's never to early to start thinking about the possibility of Florida living this upcoming season. With A MOTIVATED SELLER, GET OUT OF THE COLD!!! This Snowbird or Retirement dream is just what you've been looking for. Reasonable maintance in Golf Course Community!!! This Large One bedroom with 1 1/2 baths has already been FRESHLY PAINTED and designed to a tee. All the latest colors with furnishings negotable. Large Lanai area that could be used as Den/office/sitting area or perhaps another bedroom. Inside Utility with washer and dryer comes in this price and so does the CAR!!!! YES INDEED, a 1998 MERCURY SABLE, 4 DOOR, 6 CYLINDER that runs good per the owner!! So you don't need to worry about transportation!
Maintenance includes Building insurance, Escrow Reserves, Trash, Cable, Roof, Heated Community Pool and Spa, Shuffleboard, Tennis Courts, Recreation Building and so much more. Enjoy this community with all it has to offer including the Golf Course in this 55+ community!!! Located close to the SunCoast Expressway with just minutes to Tampa International / Clearwater St. Petersburg Airports. Growing area with Restaurants which are near by, along with Shopping, Beaches and Fishing! Be prepared to be impressed!!!
Check this out on www.RealEstateHomesFlorida.com or call me at: 727-415-4669.
Email:kdsrealestate@yahoo.com
Katie Creek
Florida Luxury Realty
IN THE HEART OF DUNEDIN
• 1,176 sq. ft., 2 bath, 3 bdrm single story - 
MLS® $150,000 - ESTATE SALE
Willow Woods, Dunedin - ESTATE SALE IN THE HEART OF DUNEDIN. PRICE HAS BEEN REDUCED This 3 bedroom, 2 bath, 1 car garage home comes complete with Refrigerator, Range and Dishwasher. Kitchen has eat in area with Living/Dining room great plan combination. Close to all the area's fantastic restaurants and beaches! New Roof replaced in 2005 and transferrable Home Warranty in place. Large Lanai area in back walks out to pool area. This home sits on a corner Lot with maintenance only running $75. a month. Included in this price is lawn, cable, and grounds. New Carpet has been put in through out this home along with new paint. This place is truely MOVE IN READY.... but don't delay, dare to compare...
!
Property information
Willow Woods, Dunedin - Announcing a price reduction on 161 Chelsea Court, a 1,176 sq. ft., 2 bath, 3 bdrm single story. Now MLS® $150,000 - ESTATE SALE.
Property information
I Love that name, don't you. Sounds like a tropical paradise to me and if you walked out the back door of this condo you would feel the same. This is a very unique condo as it actually sits on a peninsula with a conservation area for you're back yard and the water. Just bring that fishing pole and catch tonights dinner!
This 1 bedroom, 1 1/2 bath unit has been complete re-done from top to bottom. Completely tiled including the Lanai for easy clean up. New tile in both bathrooms, and in the kitchen area. Newer appliances, complete with microwave, stove and refrigerator. Decorator painted in all the latest colors for the latest look.
The Lanai area is large enough for a 2nd bedroom if needed or wanted. It has a large storage area that could also be used as a closet for your convenience.
Low Maintenance Fee includes: Cable, Trash, Roof, Building Exterior, HEATED COMMUNITY POOL, Spa/Hot Tub, Fitness Center, Escrow Reserves, Active 55+ lifestyle, in Golf Course Community!
See it online at: www.RealEstateHomesFlorida.com
Katie Creek
727-415-4669
Florida Luxury Realty
OWNER MOTIVATED
• 779 sq. ft., 1 bath, 1 bdrm single story - MLS® $69,900 - DARE TO COMPARE
Paradise Pointe West, New Port Richey - COMPLETELY FURNISHED with owner ready to sell this 1 bedroom (possibly two), 1 1/2 baths, 1 car GARAGE unit. Living and Dining Room Combination with Ceramic tile throughout, including the Lanai. Lanai area is big enough for a second bedroom if needed and has plenty of storage space. Kitchen has been completely redone with newer appliances, microwave and tile work. Inside has been entirely decorator painted with exquisite tile work done in both of the bathrooms. This unique condo looks out over a conservation area complete with water. Walk out your back door and bring the fish home for supper! Low Maintenance fees include: Heated Community Swimming Pool, Hot Tub/Spa, Fitness Center, Recreation Building, Tennis Courts, Lawn, Cable, Roof, and Trash in an active 55+, Gulf Course Community. Close to Tampa International Airport, Clearwater/St. Petersburg Airport, Sun Coast Express Way and the Area Beaches. All this with a MOTIVATED SELLER... Dare to compare!
Property information
REDUCED NOW OVER $16,000 AND COMPLETELY FURNISHED with owner ready to sell this 1 bedroom (possibly two), 1 1/2 baths, 1 car GARAGE unit. Living and Dining Room Combination with Ceramic tile throughout, including the Lanai. Lanai area is big enough for a second bedroom if needed and has plenty of storage space. Kitchen has been completely redone with newer appliances, microwave and tile work. Inside has been entirely decorator painted with exquisite tile work done in both of the bathrooms. This unique condo looks out over a conservation area complete with water. Walk out your back door and bring the fish home for supper! Low Maintenance fees include: Heated Community Swimming Pool, Hot Tub/Spa, Fitness Center, Recreation Building, Tennis Courts, Lawn, Cable, Roof, and Trash in an active 55+, Golf Course Community. Close to Tampa International Airport, Clearwater/St. Petersburg Airport, Sun Coast Express Way and the Area Beaches. All this with a MOTIVATED SELLER... Dare to compare!
Starting Price of this property was at $69,900. Owner reduced it down to $59,900. and Now it is at:$53,000.
This is a COMPLETELY FURNISHED Unit. Bring your TOOTHBRUSH and Don't forget your FISHING POLE!
Katie Creek
727-415-4669
www.FL-WaterFrontProperty.com
Florida Luxury Realty
Where The STIMULUS Money Went
Despite hundreds of billions of dollars given to banks in late 2008 and early 2009, they're plainly not lending as much as they could. Instead, much of the money has gone to build up capital, acquire other companies and make sure that no executive misses a fat paycheck for the leadership efforts that created the mortgage meltdown in the first place.
As an example, the New York state comptroller's office says that in 2008 “the bonus pool paid by the securities industry to its employees in New York City totaled $18.4 billion in 2008 based on personal income tax collections and other factors, including industry revenue and expense trends. This represents a decline of 44 percent compared with the $32.9 billion paid in 2007. The decline is the largest on record in absolute dollars and the largest percentage decline in more than 30 years, but the size of the bonus pool is still the sixth largest on record.”
It was Adam Smith who said we are each guided by the “invisible hand of self-interest.” In the case of the nation's banking system there's nothing invisible about it. Money from the U.S. government that was plainly intended to restore the lending process has instead been diverted into lender vaults and executive accounts. Having been spent for other purposes, that money is simply unavailable to mortgage borrowers, regardless of their credit standing or the value of their homes.
So, this explains to me why I have a First Time Homebuyer that has been waiting for almost 2 months for a CLEAR TO CLOSE. Thank GOD for patient sellers!!
Any comments please feel free to email me at: kdsrealestate@yahoo.com
Katie
727-415-4669
www.FL-WaterFrontProperty.com
Please Tell anyone you know that may
have purchased a home recently, where
this may be a concern
CONSUMER ALERT!!!
AVOID THIS CHINESE DRYWALL SCAM
At least two types of fraudulent activity involving the defective drywall have been reported to the Florida Attorney General Bill McCollum’s Office by individuals in the building industry: bogus tests to determine the presence of the product and quick cure remedies that falsely claim to remove the corrosive properties of the drywall.
According to reports, defective Chinese drywall in a home causes black corrosion to appear on copper air conditioner coils and non-insulated copper wiring. If the air conditioner coils are corroded black, there is a strong likelihood that defective imported drywall is present in the home. Most homes that contain defective imported drywall were built between 2004 and 2008. Other homes probably do not have Chinese drywall.
McCollum says there are two easy ways to find out if defective Chinese drywall was used in a home: Ask the homebuilder or have a qualified professional air conditioner technician conduct a visual inspection.
However, the presence of defective imported drywall cannot be determined by “testing” the air in the home. Additionally, if the toxic version of drywall is found during a visual inspection, it cannot be remedied with a spray or an ozone generator. McCollum says those products can actually make the problem worse.
The Florida Attorney General’s Office has had the following specific complaints so far:
• Sale of bogus test kits. These can be expensive, often costing thousands of dollars, and are generally ineffective. The presence of defective imported drywall can only be determined through visual inspection.
• Solicited home inspections costing thousands of dollars by “experts” with no apparent qualification. Homeowners should beware of cold calls and door-to-door solicitors.
• Sale of sprays and applications that claim to miraculously cure the corrosion problem. Not only are these products ineffective, but moisture could accelerate the corrosion.
• Sale of ozone generators. Ozone will actually increase the chemical reaction between the drywall and copper and accelerate corrosion.
Consumers can file a complaint about scams by calling the Attorney General’s fraud hotline at (866) 966-7226 or by filing a complaint online at http://myfloridalegal.com.
© 2009 FLORIDA ASSOCIATION OF REALTORS®
Katie Creek
www.FL-WaterFrontProperty.com
727-415-4669
Here we go again with the lending institution and right now I am so upset with the lenders of these institutions that I want you all to be aware of what just has happened to me so that it doesn't happen to you, unless of course it already has.
Buyer on said property made an offer on a short sale. No big deal this is done every day right. Right, however the lender chose another offer over hers so, the hunt for that perfect property was on again. Enter my listing, not a short sale, all the paperwork done and contract in place. Now the buyer is of course going through the loan process. It has now been 10 weeks. Yup, I said 10 weeks, and guess what the hold up is, the lender said that she had been denied a loan for this short sale. What??? How can this be when she never went to a lender, because the lender on the short sale chose another offer? Beats me!!! What does submitting a loan with a pre-approval have to do with an actual loan? And, since her contract was nixed, why would she be jeopardized?
So, if this is happening to her, I am sure that it is happening to thousands of people out there that are requesting a loan through FHA on property. Even though they may have submitted an offer on a short sale, they may be turned down because they SUBMITTED THE OFFER!!!! HEADS UP GUYS....we need to be making these lenders RESPONSIBLE for what they are doing. Or, is this just another gimmick not to lend money to a good buyer?
Katie
www.FL-WaterFrontProperty.com