Thursday, December 31, 2009

Happy New Year!

There's been better years for business and home sales. Here's to next year being one of them. I'm off to Kayak!

Monday, December 28, 2009

I want to be a Banker

Did things ever come crashing to a halt. The financial institutions took Thursday and Friday off for Christmas, deadlines be damned. NAR has been advising us to put 45 days in as the time period to close. It looks like I should add another 10 if it falls near a holiday.

Tuesday, December 22, 2009

Low priced homes!

Homes are selling for much less than they did in 2005 but prices aren't falling anymore. Whenever a well priced and clean home or condo comes on the market, it is gone withing a week at very close to the asking price. There are many homes on the market and many of them are asking too much for current market conditions. I've been aced out of several sales because we couldn't act quickly enough.

Saturday, December 19, 2009

Arggghhhhh appraisers

It's a bummer when they come in low. There is the option to pay for another one, or provide new information to the appraiser, like a very recent sale. Lowering the sales price is another option.

Tuesday, December 15, 2009

Pelican Bay

I've been driving around Pelican Bay the last few days and what a well planned neighborhood it is. It's a nice mix of residential towers with ocean view, condos and single family homes. best of all the fees are reasonable, only around $1700 a year. Compare THAT to most other communities west of 41 in Naples.

Friday, December 11, 2009

Just sold another one!!!!!

A lot this time. 1.27 acres of wooded love on a great location in San Carlos Estates, Bonita Springs FL.

Wednesday, December 9, 2009

New short sale rules

What I'm reading is that the lenders will approve a price range BEFORE the property goes on the market and they will respond within 10 days to an offer. Sounds great, it's due by April.

Tuesday, December 8, 2009

Short Sale Dynamics

Here's a deal I'm working. 1st mortgage is $110K, 2nd is $65K. Our offer is $90K. The first mortgage holder has agreed. The second mortgage holder, even though they won't get anything in any situation is holding the whole thing up. Their only leverage is to delay the whole transaction and hope one of us will throw them a bone. no wonder these things take so long.

Monday, December 7, 2009

Residential Land Sales

My buyer has me chasing land in the area. Wow! There are bargains galore, yeah, I said galore. Sold for $150,000 in 2005, now for $24000.

Thursday, December 3, 2009

The Foreclosure addendum

Here's the gist of the foreclosure addendum. Sign away any right to recourse from the sellers. Do this over and over and over and then a couple of more times. Get it done in 24 hours.

Tuesday, December 1, 2009

Open House in Pelican Bay

That's where I'll be from 2-5 on Sunday 12/6. It's value priced beach access in prestigious Pelican Bay in Naples. 239-963-5032

Saturday, November 28, 2009

Sold another one!!!

This is a 2/2 in Victoria lakes and NOT distressed property.

Tuesday, November 24, 2009

Just Sold Another One!!!

3/2 Foreclosure in Bonita Springs, it's a great deal!

Monday, November 23, 2009

Full Price Offer-Financed-Great credit

They took a cash offer for less. 60 days later it's back on the market. I guess we'll make another run.

Friday, November 20, 2009

Full price, cash, close in 2 weeks..Day 2

Ring...Ring...Click..Ckick, still no response. If you homesellers only knew how difficult some listing agents make it to show a home, even make an offer. Hint if your agent is slow or doesn't return your calls and emails, they aren't returning mine either. Little things like "can I show your home" or " I have an offer I'd like to discuss" go without a response so I have to show my buyers another property.

Thursday, November 19, 2009

Full Price Offer, Cash, Close in two weeks

Hello.........................................Hello................................You think it would at least get a response. It always will from me.

A very well priced condo

I went to look at this unit this morning, intending to make an offer if it was not damaged. There had been a showing yesterday, that agent was putting in an offer and the key was missing. Coincidence????? Anyhow, I've let the listing agent know that I can produce a cash offer by this afternoon. He is running around trying to get a key so I can show it.

Wednesday, November 18, 2009

The Iceberg

Foreclosures are like an iceberg. we are seeing them trickled onto the market but I think that there are 10 times as many waiting. The banks don't want to ruin the housing recovery by flooding the market with distressed property.

Thursday, November 12, 2009

HOA Dues-How High is Too High?

I'm noticing that the neighborhoods with lower HOA dues are much more in demand. In the condo market propeties with really high dues are selling at a discount. It looks like buyers are trying to make up the monthly difference by offering less on the propereties.

Wednesday, November 11, 2009

Naples Home Sales Market News

38 Homes sold yesterday in the Naples area, 9 over $300K and 16 under $150K. It's still a bargain hunters market.

Tuesday, November 10, 2009

New twist on a short sale

Preapproved short sale. Buyer walked after approval. Do you think that it means the buyer walked? I guess not. I bring an offer and find out that maybe the buyer isn't sure that they walked. They might still want the place but can't gaurentee that they still want the place. Huh?

Monday, November 9, 2009

Preapproved short sale ?

We will soon find out just what that means. I just submitted an offer on one.

Sunday, November 8, 2009

Red Light Cameras

Watch out in Naples anywhere near Airport Rd. I just got nabbed, $125 for a rolling right on red. OUCH. I sit at the intersections and watch the flashes. Somebody is raking it in. Unfortunately its not the city and county but a company in Arizona taking the lions share.

Saturday, November 7, 2009

Garages turned into bedrooms

That was the theme of today's foreclosure trot. We hit a whoppinh 4 of 5 or 80%. I don't even want to think of the permit situation.

Friday, November 6, 2009

Foreclosures and Short Sales

That's what I'm showing tomorrow, from 60K to $115. Five different Short Sales, Preapproved Short Sales and Foreclosures. I like to think of it as five small adventures.

Thursday, November 5, 2009

Definition of a short sale

3 months of no information, followed by no information. A coworker had someone call him the other day "We're ready to move on your short sale now". It had been so long, over 9 months, that he didn't even know he was in a short sale.

Wednesday, November 4, 2009

Beachfront Foreclosure $134,9K

It's 500sq ft of across the road from the beach love. A FNMA foreclosure so the first 15days are for owner occupied purchase only. They will even loan for 3% down.

Tuesday, November 3, 2009

Naples Park Foreclosure

I went to look at it for an investor. $175K. It was the cleanest foreclosure I've been in, ready to rent and a great bargain. Well, three cash offers over the listing price later and I'll just keep on looking.

Monday, November 2, 2009

Find that leak...

It's the new foreclosure game. You see the water damage, smell the mold. Your job is to sleuth out where it came from. Is it the tub.....Yes. Wait this one over here is even bigger , a whole room and closet. The shower is bad but could never have leaked this much water. In the garage...AH HA! the washing machine spewed an entire cycle into the walls and carpet. Case solved.

Notes on an Open House in a Foreclosure

When holding an open house in a foreclosure I'm going to go ahead and recommend checking on the power status ie; electricity. I'm not going to say I sat in a stuffy house without a/c and sweated like I was in birkham yoga lodge, but it's probably something you might want to avoid.

Friday, October 30, 2009

Open House in a Foreclosure

That says it all about the current market conditions. A 4 bedroom condo, built in 2006, 1841 square feet and $85 per sq ft.

Thursday, October 29, 2009

Condo fees and HOA dues

Why are they so high? Keep in mind that your property insurance(this can be high here in Florida), irrigation, cable TV, lawn maintenance and clubhouse/community pool is all figured in. Right now the associations are trying to make up for non paying members. Maybe when more homeowners are up to date the fees will be lowered.

Wednesday, October 28, 2009

Foreclosed Condo-4BR-1800+Sqft

We have a foreclosure listing that I just went through. It's on the Imperial River, very spacious with count them...4 bedrooms, volumn ceilings and a very nice location just off of Hwy41. It's pretty clean for a foreclosure. $157,9K and at just over $85 a square foot. I don't think this one will last long. I wonder when these screaming bargains will be over?

Tuesday, October 27, 2009

How much is that?

I went and looked at a home in Naples built in the 60's, never been updated, overgrown with plants, pea gravel driveway and about 1800 square ft. How much do you think it is worth. Oh yeah! 80 ft of canal frontage, dock and no bridges on the way to the ocean.......1.9mil??

Friday, October 23, 2009

What to Price Your Home?

It should be based on market conditions, what similar properties have traded for in the past six months. That's where a REALTOR comes in. We have the latest comps and can help you list at a price that will give you showings and offers. It takes a showing for someone to fall in love with your home. Here at Help-U-Sell we list for less than many other companies, we can help you keep more of the sales price.

Thursday, October 22, 2009

Distressed Property

It's always an adventure walking into one of these. What will it smell like? Is the electricity on? Are the appliances still there? Are the ceiling fans and light fixtures there or bare wires? Sinks and bathtubs? Pipes? I actually went into one "was a luxury condo" and the sink and some pipe was gone. On the plus side I've yet to go into one with the doors and windows gone, give it time.

Wednesday, October 21, 2009

MLS only listing?

I was talking to a homeowner/homeflipper that was looking for a MLS only listing. Why? Since you have to pay the selling agent anyway why not take advantage of what we offer at Help_U-Sell. The sale by owner portion of our program includes signs, MLS listing, photo in Naples Home Magazine(distribution of 20,000), and all major realty websites. We will feature your open house on and Sunshine MLS. We can schedule showing or show your home, provide escrow services and even negotiate the sale of your home for the same fixed fee, payable when you close. Best of all we are local and available when you need us.

Tuesday, October 20, 2009

Custom Swimming Pool

My pool is done! My pool is done! Five weeks of yard destruction and dust ends up with a great finished product. Now it's on to the sprinkler repair and resodding. That will be done this week.

Monday, October 19, 2009

The Weather is Perfect

How about 72 degrees, sunny with a slight breeze? We are looking at 80's and sunny the rest of the week. It's great weather for golf or strolling down the beach.

Friday, October 16, 2009

Market Conditions

Home sales in Naples are twice what the were last year at this time, a good sign, the average home price at $183K is lower due to distressed properties. Properties under $150K are selling fast, fast, fast and we are running out of the under $100K units. NABOR shows that the under $300K is the fastest moving part of the market.
The number of new listings is down, maybe supply and demand are evening out. It's a good time to list your home. Here at Help-U-Sell we list your home for less than many others and still provide full service.

Thursday, October 15, 2009

Short Sales

It's a Short Sale market, at least in the lower prices. The banks are moving slowly so it's probably still headed toward a foreclosure market. It's hard to impress on short sales buyers the patience that they need, that they will go weeks without any information. I've found condo sellers taking lower offers to get cash offers. Cash is still king in the two figure market.