Category Archives for Loxahatchee Foreclosures

What Is A Real Estate Housing Hell?

Real estate is NOT National- Not Regional- But very local! 

Our great negative newspaper loves to spread ill will it seems. Doom and gloom sells papers I suppose or else why would they keep reporting this stuff?? 

Here is a snippet from our local paper:

” South Florida and the Sunshine State are stuck in housing hell…”

What is the point of this statement? What part of South Florida or what part of the Sunshine State is he referring to specifically? How verifiable is his statement and what investigative reporting and research did he do prior to writing this statement and the rest of his article?

How many real estate brokers did he talk to to verify this statement?

And did he talk to top producing brokers and agents who are kicking butt with sales in South Florida or is he asking those about to give up being an agent and not renew their dues at the end of the year?

All answers to open ended questions are the result of perspective, attitude and one’s own understanding.

What is a housing hell? 

That is quite a scary term if you ask me. Would this cause homeowners to just give up and not even try to do a short sale first if they can not pay their mortgage payments? 

Would this cause people who need to sell, to just walk away or not to sell? 

Real estate is very local. Very local. 

In Miami for instance, the prices along the waterfront, South Beach, Miami Beach- went up over 50% in 2011! There are bidding wars, people are coming to Miami from Brazil with cash to buy penthouses and other waterfront condos! The new units are selling fast! They are ahead of their projected sales in new condo projects. 

Is that housing hell? I don’t think so!! 

In Wellington we have wonderful horse farms and equestrian properties that are sought after year after year. We only have about 19% of our inventory on the market labeled as short sales and very few foreclosed properties. We are selling and closing properties in Wellington Florida as our many other agents in Wellington Florida. 

We have more buyers requesting properties to buy here than we have had in years. Our buyers agents are so busy with the leads we send to them that they are telling us they can’t handle any more people to work with until the help those they are helping. 

Is that housing hell? I don’t think so!!! 

What Is A Real Estate Housing Hell?

Real estate is NOT National- Not Regional- But very local! 

Our great negative newspaper loves to spread ill will it seems. Doom and gloom sells papers I suppose or else why would they keep reporting this stuff?? 

Here is a snippet from our local paper:

” South Florida and the Sunshine State are stuck in housing hell…”

What is the point of this statement? What part of South Florida or what part of the Sunshine State is he referring to specifically? How verifiable is his statement and what investigative reporting and research did he do prior to writing this statement and the rest of his article?

How many real estate brokers did he talk to to verify this statement?

And did he talk to top producing brokers and agents who are kicking butt with sales in South Florida or is he asking those about to give up being an agent and not renew their dues at the end of the year?

All answers to open ended questions are the result of perspective, attitude and one’s own understanding.

What is a housing hell? 

That is quite a scary term if you ask me. Would this cause homeowners to just give up and not even try to do a short sale first if they can not pay their mortgage payments? 

Would this cause people who need to sell, to just walk away or not to sell? 

Real estate is very local. Very local. 

In Miami for instance, the prices along the waterfront, South Beach, Miami Beach- went up over 50% in 2011! There are bidding wars, people are coming to Miami from Brazil with cash to buy penthouses and other waterfront condos! The new units are selling fast! They are ahead of their projected sales in new condo projects. 

Is that housing hell? I don’t think so!! 

In Wellington we have wonderful horse farms and equestrian properties that are sought after year after year. We only have about 19% of our inventory on the market labeled as short sales and very few foreclosed properties. We are selling and closing properties in Wellington Florida as our many other agents in Wellington Florida. 

We have more buyers requesting properties to buy here than we have had in years. Our buyers agents are so busy with the leads we send to them that they are telling us they can’t handle any more people to work with until the help those they are helping. 

Is that housing hell? I don’t think so!!! 

Loxahatchee Short Sales- Can I Do A Short Sale On My Loxahatchee Property?

Loxahatchee Short Sales- Can I Do A Short Sale On My Loxahatchee Property? 

Your family, friends and associates are well-meaning. They share their concerns and advice with you. Sometimes their advice is based on hear say and sometimes it is based on past events that have taken place in their own lives. In 2007 the short sale market really started to happen here in Loxhatchee Florida but most agents and most sellers and most people did not even know what a short sale was. The banks did not even know how to handle them and were ill equipped to take on the enormous case load of thousands upon thousands of short sale files that hit their loss mitigation departments across the country from Florida, California, Arizona and Nevada. 

So many of the stories you hear about how a short sale was done in 2007 is way different that how they are handled today in 2011 and into 2012. It used to be as I have written in many of our earlier articles on short sales that you had to have a hardship to do a short sale. That is not alway the case any more. In fact, some lenders are not even asking to see your financial statements any more. Some lenders are paying your moving expenses up to $20,000 at your short sale closing. 

We have been getting sellers who have old WAMU loan and old Wachovia loans up to $20,000 at the closing. This is sometimes a dream come true and a huge surprise to sellers who are so upside down. Just imagine what twenty grand can help you- you can even put a down payment down on another property through an FHA loan if you relocated because of your employment and you were not late on your mortgage payments or you were only late because your bank told you they would not process your Loxahatchee Short Sale unless you were late. 

Times have changed. We are not attorneys and we are not giving you legal advice. We have great attorneys that work with us, that we confer with, that our sellers can hire if they choose to and that we help in short sale situations. We offer Loxahatchee homeowners a free, no obligation short sale evaluation that is totally confidential. 

Loxahatchee Short Sales- Legal Updates

The National Association of Realtors® Legal Scan – Legal Issues did a survey on issues facing Real Estate Professionals, it is the opinion of Brokers, agents and attorneys that the biggest disputes are and continue to be about disclosure issues especially concerning short sales. 

The disputes center around the issue of property disclosures, the disclosure of known material defects to a property in short sales. It is being reported that some Brokers and agents are not disclosing material defects. 

Dual agency in those states that have dual agency is another issue of concern. Florida is not a dual agency state. The other complaint is about agents breaching their fiduciary duty. Again, in Florida it is presumed that brokers are acting as transaction brokers unless a single agency agreement has been entered into. 

Because Loxatchee  short sales and other Florida short sales are sold in “as is” condition, sellers and agents are not providing sellers’ property disclosures and many who are – have property disclosures that are weak and lack quality. Of course, if the property has never been lived in by the owner of the property and that owner does not live in Florida they would not necessarily have knowledge of defects depending on who was handling their property. 

We really encourage buyers agents to strongly suggest to their buyers to have a home inspection completed within the first 20 days of their offer being accepted by the seller, before the bank approves a short sale. This way, the buyer can move to look for another property should the inspection report come back with repairs the buyer is not willing to accept. 

The NAR- National Association of Realtors®  legal scan report it also states that there is a disclosure problem with agents not disclosing that the listing is a short sale or soon will be a short sale. This is a whole other topic because this dispute has two sides to it. It has an agent who has a duty to disclose material defects and it can be argued that a short sale is NOT a material defect to the property. It can also be argued that a seller who may get fired by his employer for doing a short sale needs to keep this information private and that by making his short sale situation known to the world especially online can damage him which then is another dispute about confidentiality of his financial condition. 

As your Loxahatchee short sale agents we keep up with the legal updates. We are not attorneys and are not giving you legal advice. Call us at  561-753-0135 for a confidential Loxahatchee short sale qualification phone meeting. No obligation