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