Selling Poinciana One Property at a Time.: September 2009

Another successful Short Sale approval in Poinciana Florida.

Property Value: $85,000 to $90,000

Amount owed: $185,000

Hardship: Loss of rental income on several rental properties (this one included)

Loan details: Fannie Mae with Mortgage Insurance

Property was placed on the market on May 8th for $109,000.

The price was slowly dropped until it went pending on June 10th at $85,000.

After about 6 weeks Fifth Third came back wanting the Seller to bring $35,000 to closing. The Seller offered $1,000. The transaction fell apart and the Buyer walked.

The property was placed back on the market on August 20th. On August 27th it went pending again at $87,500. A complete Short Sale package was sent in again on September 2. Within days Fifth Third came back wanting $35,000. The Seller stood firm on his offer of $1,000. Finally after several attempts to get him up Fifth third agreed to $1,000 cash at closing.

We received written approval on September 18 only 16 days after submitting the 2nd contract and package. Sometimes the second time is a charm.

Working Short Sales is very rewarding. If you want to learn more...........

Available Short Sale Training:

• The Negotiator Interview $27.00
  
• www.ShortSaleSuperStars.com FREE
• Short Sale Agent Training Webinars 8 Hours of training and materials for $97.00
• Short Sale Listing/Submission Package $27.00 Click for details
  

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

Copyright © 2009 http://www.brokerbryant.com/ | All Rights Reserved

Hi folks. Today I want to give you a little taste of the real estate market in Central Florida. If you are not in Florida, California or Nevada it may be hard to comprehend how bad things got. How drastically values declined.

Let’s use Ginn Reunion Resort as an example. Reunion was designed to be a would class vacation resort. It features 54 holes of Championship golf designed by Arnold Palmer, Tom Watson and Jack Nicholas. Reunion Resort also has a 10 acre water park, 17 pools, horse stables, tennis, spas, shopping, ANNIKA Golf Accademy, condos, townhouses, single family homes and the topic of today’s post…….lots.

In 2004 and 2005 this was the place to buy and flip vacant lots. Standard size single family lots (4500 to 6500 sq ft) on the golf course were selling for as high as $600,000 in 2005. Today……..

• Bought in February 2003 for $82,900. Sold for $339,900 in May of 2005 with a mortgage of  $271,900. Today it’s on the market as a REO at………$14,.900. That is NOT a typo.

• Bought in December 2004 for $184,900. Sold 3 months later for $310,000. It was foreclosed on and is on the market today for……$19,000.

• Sold for $546,700 in September of 2004 with a mortgage of  $410,025. Available now for $25,000. Not sure what you could build on this one since it’s only 35 x 115.

Does it get any worse than this? What was the Lender thinking when they lent $410,025 on literally a strip of land 35 ft wide?

Anyway…...if you are looking for a deal in Reunion let me know. I’m sure we can find you something.

Reunion Lots from the $20,000s

Reunion Townhouses from the $110,000s

Reunion Condos from the $150,000s

Reunion Single Family Homes from the $200,000s

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

Copyright © 2009 http://www.brokerbryant.com/ | All Rights Reserved

Hi folks. This current real estate market and economic climate is really taking it’s toll on people. We’ve recently heard of  “Strategic Defaults” and “Delaying your foreclosure” now we have the “Walk Away” or mailing your keys back to the lender. Jingle mail is what the lenders call it.

And its spreading.

Not only are people doing this with their houses but they are also doing it with their other debts. Stop paying. Walk away.

If you want to get a better feel for people’s thought process just read through the comments on this article:

The New Consumer Debt Strategy: Just Walk Away

People are fed up. They are getting fed up with their credit cards' interest rates going up even though they have never been late on a payment.

People are fed up with corporations getting trillions of dollars in bail out money while they get squat.

People are fed up with FICO scores and the control they have over our lives:

5 People Who Check Your Credit

People are fed up with creditors and their lack of willingness to help.

People are fed up. Are you?


So walk away
And close the door
And let my life be as it was before
And I'll never never know
Just how I let you go
But there's nothing left to say
Just walk away

*** Celine Dion---Just Walk Away---Lyrics by Albert Hammond.

Available Short Sale Training:

• The Negotiator Interview $27.00
  
• www.ShortSaleSuperStars.com FREE
• Short Sale Agent Training Webinars 8 Hours of training and materials for $197.00
• Short Sale Listing Package $47.00 Click for details
  

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

***The content of this blog is solely my opinion***