Katie Creek

SHORT SALE UPDATE

Katie Creek — Wed, 14 Jul 2010 18:03:00 GMT

I just wanted to pop in and let you know that I just got finished doing a new site about short sales. You can view this site at: www.SheSellShortSales.com
Although it's rather lengthy it does give you some insight on short sales and the process that we go through. Short Sales do not happen overnight although with plenty of perserverance, it will get done!

Here are a few things that I've learned through my journey this last few weeks, and I thought that I would take this opportunity to share them with you!

It appears that interest rates will continue to stay low for a while longer, however lenders are warning that inflation is about to hit and the rates will begin to rise soon. Some are talking double digits by the end of next year. Let’s certainly hope not, but history does repeat itself!

Short Sales should remain plentiful as lenders are currently holding back many homes to help our market stabilize. I look for Short Sales to continue for a few more years. Our economy will be the determining factor when we really are “through the worst of it”.

Also, did you know that De-Cluttering and Home Staging will bring you the most return on your investment dollar? As a Realtor and ASP (Accredited Staging Professional) I can show you the way to get your home ready for sale and reap that ROI

Cleaning and de-cluttering remains in the top priority. A whopping 872% return according to……seems like I can clean and clean my closets, but the clutter always wants to remain!!!!
Second place is held by Home Staging with a WHOPPING 586% return.
Third, and usually not realized is Lighting and Brightness...one that is often overlooked can cost you. The return on this investment? 572% bet ya didn't know that one..???

Forth, landscaping. Did you know that when selling Real Estate that this is the very first impression that people get. It’s not the inside…but the outside that can really sell a home! This return come in at 473%. and one again that could be overlooked.

Did you know that I once showed property listing that never once mentioned the beautiful Koi (humm...this may not be spelled right, but you know what I mean) pond. It was so beautiful and I was so shocked when I walked up on it. Needless to say, I felt sad that this was not even mentioned in the MLS listing.

Inexpensive home improvements & just basic cleaning will greatly enhance the value of a home along with the salability and selling price.

Katie Creek
727-415-4669
www.FL-WaterFrontProperty.com
www.HudsonBeachPeach.com
www.SheSellShortSales.com

5 + ACRES WITH KEY WEST STYLE HOME

Katie Creek — Sun, 13 Jun 2010 11:27:00 GMT

AT THE END of a cul-de-sac sets a newer home on Wild Cat in New Port Richey. Complete with beautiful inground pool come home to the peace and tranquility that is deserved in this 3 bedroom, (possibly 4 or more) 3 bath home, and 3 car garage on 5 + Acres complete with pond. Entertain in your tiled pool area surrounded on both each side by your home.

Look out over the pool area from all area's of the home through the french doors and watch mother nature at her finest, where the deer and turkey stay. Could be used for horses if you have them, and also could be used as Nanny or Mother-in-Law Suite. Close to all the

Make sure you check out this home by giving me a call at your convenience. Or check this out online at: http://www.RealEstateHomesFlorida.com

Katie Creek
Florida Luxury Realty
727-415-4669

Single Story For Sale in Willow Woods

Katie Creek — Sat, 24 Apr 2010 11:48:00 GMT

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 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 and transferrable to buyer! OWNER SAYS SELL!!!!

Property information

IS A SHORT SALE HOME A GREAT DEAL? YOU DECIDE!!!

Katie Creek — Sun, 28 Mar 2010 12:35:00 GMT

This depends upon a few different things, first how much the home initially is, second if the lender will accept your offer, third you’ve heard this before, location, location, location, forth, what the “real cost” of the home is.

While many great deals are out there classified as “Short Sales” there are a few things that a buyer should be aware of. First and foremost, has the lender OK’D the price of this home? In other words told the listing agent that they will sell this home at a certain price? It’s been my experience that there are some agent’s low balling the selling price of a home to get multiple offers on a home. Thus creating an auction like process.

Best suggestion before making an offer on a home is to check and see if there are multiple offers. This will not only influence your offer but, what you offer will be carefully looked over by the lender.

Another thing that many people don’t realize is the cost of a short sale as lenders now are doing several different things to regain some of their losses. First, they may try and negotiate an offer, by asking for a higher selling price. Second, they may ask that you pay the DOC Stamps on the Selling price of the home. Third, they may ask for you to pay Title Insurance, or possibly both. Forth, they may ask for the buyer to pay all Closing Cost. Fifth, be aware many lenders will not turn on the electric or water for your inspections leaving you “in the dark” about what may (or may not) be wrong with the home. Of course, you can pay for this if wanted.

So, let’s take a look at a 100,000 home for instance. If you are asked to pay Title Insurance on this home, it could be around $775. Doc Stamps would run approximately $700. Commissions vary but with 6% commission your cost would be $6000. And, administration fees, they vary now anywhere from around $250 to $399. So you see, closing costs on a home can really adds up.

Your $100,000. Home just cost you about $108,000. More or less. However, if you need to purchase a mortgage for this home there will be other charges, the mortgage company will charge you for the mortgage, this usually varies from lender to lender. Along with this charge there will be Escrow for the insurance company, (this is usually one year in advance) Escrow for your taxes. You may want a Home Warranty then there is another charge, and so on and so on.

So, it could be by the time you are looking to purchase that $100,000. Home it may cost you more like $120,000. Then it becomes your call if you think the home is worth the extra monies. By the way, the selling price of the home remains the same of $100,000. All the while, this process could take several months to complete!

Hope this helps in your process of purchasing a “Short Sale”.

Katie
Florida Luxury Realty
727-415-4669

COUNTRYSIDES BEST KEPT SECRET

Katie Creek — Sun, 21 Feb 2010 17:54:00 GMT

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 MORTGAGE REVOLUTION: WALKING AWAY

Katie Creek — Wed, 27 Jan 2010 14:51:00 GMT

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

NEW SHORT SALE GUIDELINES MAY HELP YOU RESTART

Katie Creek — Fri, 04 Dec 2009 11:27:00 GMT

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

AMERICAN FORECLOSURES KEEP ON LOOMING

Katie Creek — Fri, 27 Nov 2009 21:32:00 GMT

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

THE GOOD, BAD or UGLY HISTORIC HOME CHART

Katie Creek — Wed, 11 Nov 2009 16:29:00 GMT

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

HEY, WHERE'S THE STIMULUS MONEY?

Katie Creek — Tue, 05 May 2009 12:26:00 GMT

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

CHINESE DRYWALL CONSUMER SCAM

Katie Creek — Thu, 30 Apr 2009 13:56:00 GMT

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

HOLDING FHA RESPONSIBLE: BUYER BEWARE

Katie Creek — Wed, 15 Apr 2009 17:18:00 GMT

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

IS THIS ETHICAL ON SHORT SALES?

Katie Creek — Wed, 08 Apr 2009 12:20:00 GMT

OK, SO A Buyers agent yesterday took a class on Short Sales. At this time they were told they are only to submit ONE offer to the lender, not several. So the two of us had a long discussion that followed that went something like this.

So, we are only suppose to submit one offer. Lets say several days go by and then another offer comes in for this same property but lets say, $35,000. more than the previous offer. Still we can't submit this to the lender?

Isn't it OUR JOB to get the most for my client as possible on this property? So, I find this a double edged sword. The lenders want to get as much for the property as possible, you also in turn want to do the best job you can for your client.

We all know most of these lenders will be taking months to make a decision on the property, and isn't this leaving the lender open for a possible suite against them or us, if we don't submit all offers?

I understand that Our job is to present all offers to our sellers. When we have lenders involved, which in reality they are the sellers, shouldn't they be making this decision? And by not presenting these offers to the "sellers" are we not destroying our ethics and everything that we stand for?

Katie Creek

www.FL-WaterFrontProperty.com

INTEREST RATES AT NEAR ALL TIME LOW!

Katie Creek — Sat, 04 Apr 2009 20:29:00 GMT

With the interest rates taking a tumble it's become a hot topic of wheather or not you think now would be the time to refinance. Well, let me tell you my professional opinion. Anyone that's worked with me can tell you "I am the tell is like it is girl". So, I must tell you what I think at this point.

First we know that the rates are extremely low. There is also a tax rebate to the first time homebuyer of $8000. this year. This does not mention the National Stabilization Programs that are out there in many of these counties including Pasco. So, all this combined, yes, yup, and yaaaaa....it's a great time to buy or refinance which ever you chose.

I have to tell you though straight up, that as a Realtor the one thing that I hate is handing over my hard earned paperwork to the lenders. I never know who I'm going to be dealing with and I espectially don't know how they will be treating my clients. I have suffered through many emotional trials because of our lenders and let me tell you ladies and gentlemen, it isn't pretty!

So, I have joined Real Estate Partners, this is a mortgage company owned by myself and my fellow Realtors that allows me to GUARANTEE you more than just low interest rates and closing costs. They actually quote you FIXED closing cost instead of estimates that often change before or even AT CLOSING! Get this, they will actually match any offer from any source you can find and prevent that last minute surprise (like 5% extra that just happened to one of my clients) from start to finish!!! (I am currently waiting on one that was suppose to close on March 19, and didn't, it is now April 4th at the time of this writing)

So who are you going to call, when it's time to do this? Call me, your Realtor. Many of you have worked with me and know, as your Realtor I have your best interest at hand. With the countries financial woes traced to abuses by the loan orgination companies, I feel compelled to take steps that would protect my clients in any home financing or refinancing situation.

I don't want my clients to run into bad advice, or lack of concern by people that I've seen so often. I want to continue to be your trusted advisor and be able to guarantee a successful mortgage so you know exactly where your at with no surprises at the end.

Call me today, I'll be glad to help you any way I can.

Katie Creek
727-415-4669

www.FL-WaterFrontProperty.com

IS THE MARKET PICKING UP?

Katie Creek — Fri, 27 Feb 2009 14:14:00 GMT

This questions will be on every Realtors mind as we continue though this year of 2009. The fact that our President has just given the lending institutions another Stimulas may just be the key to what we need. Question is, is it?

The problem lies in the fact that no one has forced our lending instutions to lend monies as of yet and the lenders continue to come up with certain "road blocks" along the way. One for instance just happend to me last month. Here it is in a nut shell.

My clients had been dealing with this instution for roughly 3 months. Everything was in place to purchase the "home of their choice". One minor exception. Two weeks before closing they were told that they would have to come up with another 5% down. Now, most Realtors know that this right here is a deal killer as most people would not have that extra stashed away somewhere. However, my clients happened to be the "older generation" and did have to break that CD to be able to purchase this home.

The reason my client was told is was that "the mortgage business was slow right now and that they needed more capitol down". Go figure!!! Regardless, I don't think that this was fair to my client or any person that may have been purchasing a home. This is only one of the many I am told are out there. However, this was a first hand experience.

As I continue to fight for you, the American people, please feel free to follow my blog at: www.dadsunshine.com
I try and write as often as I can and show property and be as good to my clients as I possibly can. After all, isn't that what we're really suppose to do MR. LENDER?????

Blessings to you my friends,
until I write again.

Katie
www.FL-WaterFrontProperty.com

727-415-4669

"A NEW CONCEPT---JUST SAY NO"???

Katie Creek — Wed, 03 Dec 2008 19:40:00 GMT

Today I received a Realtor email from a highly well know source the article mentioned that “if sellers refuse to budge on a too-high asking price or won’t make necessary improvements many real estate brokers now urge agents to turn down the listing”.

Really, well where have you been lately??? The problem with this article is that many of us have been turning down these listing since the market turned approximately 3 years ago, but who’s watching!!!??? I, for one will not accept a listing if after I talk with the sellers, they still want an outrageous price. I must say, that I probably have turned down more listings this past 3 years than I’ve made sales.

However, if I am to be honest with my Seller (which I always am) then I have to be upfront with them and "TELL IT LIKE IT IS". Unfortunately, many of the sellers still believe that they can get double or triple what the EXACT same house went for on the next block! And please beware of that "I HEARD" statement, check the facts yourself. Look at the counties web site. This will give you all the valuable information you need and it will deal in FACTS, not hear say.

Let's face it, times are tough, but being unrealistic is not an option in this market. We, as Realtors are out there trying to do our job and lead you in the right direction. It’s like leading a horse to water and we all know the rest of that story is. If we tell you that the house needs painting, please listen, we are not running you’re home down in fact, we are trying to make you’re home sell faster in a difficult market.

We don't want to hurt you, or anyone else's feelings but, we want to do the best possible job for you, the people that employ us. Listen to you’re realtor, they have some good suggestions and please remember we deal in this market on a daily basis. We know what’s going on, and if you don’t believe this, well, just ask us or, for that matter just ask me!!!

Katie
www.FL-WaterFrontProperty.com
Email: kdsrealestate@yahoo.com

WEEKEND WARRIOR--WHY NOW IS THE TIME TO BUY

Katie Creek — Tue, 18 Nov 2008 11:55:00 GMT

I'LL ALWAYS BE DAD'S SUNSHINE

Wow what a weekend, all weekend I was either showing property, emailing or talking to someone about WaterFront Property and why now is the time to buy. The Gentleman that call here yesterday couldn't believe what his friend just picked up here on the water. I myself am in somewhat disbelief that people haven't realized how reasonable the property is to live right here on the Coast where the weather is beautiful and fishing is some of the best fun around!!!

It only goes to prove the point that I have been making for months that people can pick up a water front property for under $200,000. I showed a place Saturday afternoon that is on the market for $159,900. This is a 2 possibly 3 bedroom home, kitchen was completely re-done has new windows and doors. Needs a little TLC but it also has 135 ft. of seawall and sits on the corner of 2 large canals.

What potential is this???? I also had the priveledge of attending 2 auction sales. One of the last bids was on a house (on a tiny canal) and the final bid with the 10% buyers Premium...$77,000. This was a 2 bedroom home with 2 lots....get out!!! A few years back this home sold for $450,000. This little crackerbox of a home.

The other one was a large house with a pool, dock and davits, Stilt home Over 2000 sq. ft. with a 3 car garage. This only got up to $275,000. A few years back this could have been over $600,000.

As time goes by I know that I'm going to be hearing people say...I should have bought when prices were low. Of course you should have. I wish I could have a microphone so I could announce it to the world of people that LOVE The water as I do, if you have ever though about buying on the water...this is it...now is the time....do it...or you will regret it and be part of that club that keeps saying I could have, but by then, it will be to late!!!

Check out Water Front Homes at: www.FL-WaterFrontProperty.com

Katie Creek
727-415-4669
Florida Luxury Realty

www.dadsunshine.com blog
www.sendoutcards.com/4yourcards

"BUYING HOMES AT PUBLIC AUCTION, BUYER BEWARE"

Katie Creek — Fri, 17 Oct 2008 13:12:00 GMT

ANOTHER BILL OF GOODS BE SOLD TO THE AMERICAN PEOPLE

BUYING HOMES AT AUCTION

Got your attention? Good, then here’s the scoop, I am a realtor and maybe a little out spoken for my own good but I cringe every time someone walks up to a microphone and says, “American’s could come out ahead after this property is sold by auction”.

Let me tell you folks, this is nota, no, not true and nope. Let’s review the things that these people aren’t telling us. First, there are extreme expenses incurred when a property is taken back. You have court costs, lawyer fees, and of course that old thing called interest. Not to mention home values have dropped by thousands since 2005.

But, this is only a small part of it. On top of everything else, the people may be allowed to live in these properties for months because of the backlog of paperwork we now have in our court system. In my area alone more than 800 cases go into foreclosure every month, about half reach that foreclosure status. This means 400 homes more or less per month are being foreclosed on in just one county!

In the meantime, let’s think about what’s going on. There could be maintenance that needs to be done on these properties like, mowing the lawn so “our government” won’t get fined. If you’re in a deed restricted community, there could be Home Owner Association Fees that will need to be paid. And, oh yes….did anyone think that soon the property taxes on all these foreclosured homes will be do? We’re talking thousands of dollars right there! Needless to say that this is of course, an added expense to the cost of the home.

Let’s review here a home that may go to public auction. The people have lived in this home for several months before being evicted. Knowing so, they have decided to “take” with them everything they can. Hence, the lighting comes down, ceiling fans, all appliances, even bathroom and kitchen sinks. One last thing before we leave lets make sure we put cement down the toilet…!!!! That is if they didn’t take the toilet.

Now, I’m not saying that everyone may do this however; this is exactly what has been going on in homes around my area. In fact, I even know of a home where they took all the cabinets, including the center kitchen island. I’m sure there has to be many other horror stories out there that haven’t even reached my ears yet. And at a public auctions, many times you are not even allowed in to "preview" the home prior to auction!

All said and done folks, if our government thinks they are going to make some money off purchasing these homes and selling them at auction they definitely are out of their league of expertise. Oh, but I forgot, they can just make more money to cover these expenses too right?

When you buy a home at public auction, the term “BUYER BEWARE” shouts to me out loud. More so now then ever. What you think may be a good deal may actually be disaster with a capitol D!

www.FL-WaterFrontProperty.com

www.BlowOutRealEstate.com

www.katie.listingbook.com

www.sendoutcards.com/4yourcards

THE BAIL OUT OF FANNIE MAE AND FREDDIE MAC

Katie Creek — Thu, 25 Sep 2008 11:05:00 GMT

Why can’t Fannie Mae and Freddie Mac be allowed to fail? The mortgage defaults and foreclosures in the US will hit the Asian central banks among others. The defaults on Mortgage Backed Securities by Fannie Mae and Freddie Mac will be looked upon the world as almost equivalent to a default by the US government on US treasury bonds. This would have a global effect, not just here in America.

AND NOW THE REST OF THE STORY

Recently our government bailed out Bears and Stearns the biggest bank in America. You remember that. Now we’re getting hit again with Freddie Mac and Fannie Mae. This is going to cost us BILLIONS OF DOLLARS. Truth of the matter is by the time this is all done and over it may be more like TRILLIONS.

Wait more good news on the horizon! The big three have also asked for help from the government and American Airlines may be in need of a life jacket! My question is this, if we as Americans keep bailing out industry without anyone taking responsibility for what is happening where will this stop? And, if they (our government) is willing and able to help out the “Big Boys” shouldn’t they be willing to help out those small business owners and the middle class Americans also?

Is there a fix? Of course there is. The common sense approach, (woops, does that exist)? Here it is in a nutshell. If they have enough money to continue to bail out all the Big Businesses, they certainly would have enough to bail out you, John Q. Public. After all this is YOU’RE money were talking about. This is what you and I are paying taxes for.

Fix number one; get rid of the previous CEO’s of these corporations, and Oh, by the way, that million dollar severance package. Well, I think that could be used somewhere else to help our American citizens. Second fix, if they can give the Automobile industry a low cost loan, why can’t they do this for our American public? Isn’t this what got us into this crunch in the first place? If the lending intuitions were able to “Offer” Americans a low interest rate to get into a home, and their paying it ok, why not keep that interest rate the same instead of raising their interest rate and throwing them out of their home? I’ll tell you the answer to this if you haven’t figured it out, GREED!

All of this could have been avoided IF lending institutions would try and “help” instead of “hinder” our people. Given a chance most Americans will elect to sit down and try and salvage what they have. And if the Lenders were able to give a “low interest loan to get into a home” why can’t they just keep this loan at the low interest? Well, we know the answer don’t we? Banks and lenders would still be making money just not at a rate they expected. All the while keeping the American Dream of home ownership alive and well in America and employees on the job.

The second part of this is to get co-operation from our local government not to raise new home taxes to an outrages extent. Does this take work? Of course it does. But American’s have always come together to help one another in a crisis. Why not this and now?

As the housing market continues to decline and more Americans are taking on a heavy burden I’d just like to ask you one thing. Who is going to make the Property Tax Payments on all these foreclosed homes? What about the Condo dues if it’s a condo? Oh, and by the way, insurance (if elected) and maintenance on these homes will also need to be done.

Now I want you to know, I’m not a politician, however I do know that if I was I would be taking care of the American People’s money like I take care of mine, by balancing. I’d be making sure that we had a nice balance with every check written. I know that I can’t just turn around and MAKE MORE MONEY. Does our government understand this concept?

Last week American People took out over 14 Billion dollars from Wall Street. This tells me that our people do not trust the financial gurus’. Frankly, I don’t blame them. I think that I would rather have what I have left in my pocket than to give it to someone that I don’t know or trust All said and done, I just want you as Americans to be informed. That when it comes down to it, government spending is on the rise and middle class America can only take so much before it fails, if it hasn’t already.

Katie Creek

SHORT SALE UPDATE

5 + ACRES WITH KEY WEST STYLE HOME

Single Story For Sale in Willow Woods

IS A SHORT SALE HOME A GREAT DEAL? YOU DECIDE!!!

COUNTRYSIDES BEST KEPT SECRET

THE MORTGAGE REVOLUTION: WALKING AWAY

NEW SHORT SALE GUIDELINES MAY HELP YOU RESTART

AMERICAN FORECLOSURES KEEP ON LOOMING

THE GOOD, BAD or UGLY HISTORIC HOME CHART

HEY, WHERE'S THE STIMULUS MONEY?

CHINESE DRYWALL CONSUMER SCAM

Please Tell anyone you know that mayhave purchased a home recently, wherethis may be a concern

CONSUMER ALERT!!! AVOID THIS CHINESE DRYWALL SCAM

© 2009 FLORIDA ASSOCIATION OF REALTORS®

HOLDING FHA RESPONSIBLE: BUYER BEWARE

IS THIS ETHICAL ON SHORT SALES?

INTEREST RATES AT NEAR ALL TIME LOW!

IS THE MARKET PICKING UP?

"A NEW CONCEPT---JUST SAY NO"???

WEEKEND WARRIOR--WHY NOW IS THE TIME TO BUY

"BUYING HOMES AT PUBLIC AUCTION, BUYER BEWARE"

THE BAIL OUT OF FANNIE MAE AND FREDDIE MAC

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