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Tax Credit from Florida Realtors June 29, 2010

Posted by orlandoshortsalefl in 6500 tax credit, 8000 tax credit, Orlando real estate, Tax Credit.
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I usually summarize the news from the Florida Realtors® News. However in this case I want you all to read this word for word as I could not have put it better. Our government as usual has waited until the final hour to approve the tax credit deadline as well as the missing the deadline on the flood insurance. This is going to cause major problems with over 100,000 home buyers throughout the USA. I have already written to the Senate and the House members. I would advise and urge everyone to do the same. In my opinion this is an outrage for all of us. We need to let our voices be heard.

Tax credit demise threatens closings

WASHINGTON – June 29, 2010 – According to the National Association of Realtors® (NAR), up to 180,000 homebuyers will lose their federal homebuyer tax credit through no fault of their own if Congress fails to pass an extension by June 30 when the closing deadline expires.

Included in that number are thousands of homebuyers in every state of the union, from 390 in Wyoming to 17,700 in California, according to estimates by NAR. In Florida, 14,830 homebuyers could lose the tax credit if closings are delayed.

“We are strongly urging the Senate and the House to act quickly to pass this legislation and ease the minds and pocketbooks of these homebuyers,” said NAR President Vicki Cox Golder.

“These are not buyers who just entered into the market. These are buyers who previously met all the qualifications for the tax credit, but find themselves at the mercy of a workflow jam with lenders or other delays such as lapses in the National Flood Insurance Program, Rural Housing Service, and new home construction, and might not be able to complete the purchase of their homes by the current deadline,” said Golder. “It would be a tragedy for them not to be able to complete the purchase in time to claim the credit.”

NAR issued the following state-by-state estimate of the number of home sales that would be delayed beyond the June 30 deadline; numbers are rounded to the nearest 10:

Alabama, 2,590
Alaska, 830
Arizona, 5,440
Arkansas, 2,090
California, 17,700
Colorado, 3,390
Connecticut, 1,770
Delaware, 400
District of Columbia, 300
Florida, 14,830
Georgia, 6,270
Hawaii, 710
Idaho, 1,270
Illinois, 7,030
Indiana, 3,560
Iowa, 2, 030
Kansas, 1,840
Kentucky, 2,540
Louisiana, 1,800
Maine, 840
Maryland, 2,630
Massachusetts, 3,930
Michigan, 6,470
Minnesota, 3,760
Mississippi, 1,530
Missouri, 3,600
Montana, 760
Nebraska, 1,110
Nevada, 3,800
New Hampshire, 690
New Jersey, 4,300
New Mexico, 1,160
New York, 9,190
North Carolina, 4,890
North Dakota, 460
Ohio, 8,510
Oklahoma, 2,760
Oregon, 2,090
Pennsylvania, 5,830
Rhode Island, 500
South Carolina, 2,460
South Dakota, 500
Tennessee, 3,910
Texas, 15,340
Utah, 1,130
Vermont, 400
Virginia, 3,890
Washington, 3,190
West Virginia, 940
Wisconsin, 2,690
Wyoming, 390

© 2010 Florida Realtors®

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Citibank Short sale June 16, 2010

Posted by orlandoshortsalefl in Citi short sale, Citibank short sale, Foreclosre, Foreclosure, Foreclosure in Orlando, Orlando pre foreclosure, Orlando real estate, Orlando Short Sale, Orlando short sale Realtor, Orlando short sales, short sale, short sale realtor.
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Short Sales with no deficiency Judgment for you.  

Well it’s official I am a Rock Star! 

So here is how the story goes….. I have this seller that no other Realtor we’ll call them musicians  would take due to it’s size, by the way it is my most humble of sales/scores. As a matter of fact 4 other Realtors/musicians turned it down because it was so low.  After the sellers we’ll call them the promoters, sang me their song I took the listing and started my short sale tour.

This particular Short Sale was with Citi, so we’ll call this my Citi Tour. On my Citi Tour I encountered several Roadies who were grumpy, tired and possibly hung over. It took me forever to set the stage for a very low budget concert. My lead Guitarist, we’ll call her the negotiator wouldn’t talk to me….ever, she would only email me.

Now I understand it’s hard to get a lead guitarist but we have to communicate…right?  Anyway I had to go to her Manager, we’ll call him the Boss to get things moving. Funny how the Boss can always make things happen.  One of our biggest challenges was the value from the appraisal. This came in much too high. The appraiser we’ll call him the Ticket Master apparently got his values from sales from 2005.   Naturally I had to fight this. It’s really hard to orchestrate my Citi tour when so many of my Band Members are not on the bus.  

Needless to say I had to do my own BPO, we’ll call this my Ballad. My Ballad had everything from heartache to distress but ended very Happy.  My Ballad was so good even My lead guitarist agreed. In fact she decided to record it with her seal of approval. The best part was there was no deficiency judgment or Promissory note from my Citi Tour, just satisfied promoters and dedicated groupies.

Long live Rock! Wendy The Rock Star

When you hire an agent ask them to show you their approval letters or some of their closed sales. You want to have an expert on your side. Wendy and I have this and we have the documentation to back it up. Remember foreclosure is the last resort. Contact me at www.scottnwendy.com or paganorealtor@gmail.com or you can use my 24 hour recorded info hotline 1-866-647-8425 EXT 104. Also check out this site I created for a report on the top 10 scams for homeowners facing Foreclosure. www.stopthephonecallsorlando.com

Short Sales and PMI June 9, 2010

Posted by orlandoshortsalefl in Florida Foreclosure, Foreclosre, Foreclosure, Foreclosure in Orlando, Mortgage insurance and short sales, Orlando pre foreclosure, Orlando Short Sale, Orlando short sale Realtor, Orlando short sales, PMI, PMI and promissory note, Promissory note, short sale PMI.
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Do you ever wonder if the person on the other end of the phone or email has a heart? Are these negotiators vampires just trying to suck more blood out the distressed home seller and Realtors. The answer is…Yeah sometimes they are.  I consider myself a fighter or in this case a Vampire slayer but when fighting doesn’t work I have to find other avenues to make these impossible short sales go through.

This was the case on my latest Short Sale. The sellers really have had a hard time and the Negotiator was tough. First I couldn’t get her to communicate with me so I had to go over her head to get a call. Hence the beginning of the “Fight”.  Well that just pissed her off and she was even more ravenous for her ounce of blood.   She told me, “We’re not paying that, we won’t do that, you’ll have to take that out, change your commission, we’re going to need a promissory note.. yada yada yada. 

Ok, so I was starting to get the picture that she was in it to win it.  What she didn’t know was So was I. I knew I had to move quick if I was going to get my stake into her heart.  So the next time she called me I kept her on the phone for at least 30 minutes. We talked about her, where she lives and her family. Then we chatted about the documents she needed from my clients. I kept mentioning key facts that were relevant to the file, values, depreciation….. all the time getting her to respond and engage in a solution.  At the end of the conversation she said she was going to make sure the PMI company knew what we were discussing. The outcome was favorable, we received our approval today with no promissory note and favorable conditions. It turns out that my Negotiator wasn’t a Vampire at all, just a tired, overworked and nice lady.  

My point is if we start to engage in the Human Touch we will find that there may be a Real Person on the other end of the phone and not just another Nosferatu. Wendy the Vampire Slayer.

When you hire an agent ask them to show you their approval letters or some of their closed sales. You want to have an expert on your side. Wendy and I have this and we have the documentation to back it up. Remember foreclosure is the last resort. Contact me at www.scottnwendy.com or paganorealtor@gmail.com or you can use my 24 hour recorded info hotline 1-866-647-8425 EXT 104. Also check out this site I created for a report on the top 10 scams for homeowners facing Foreclosure. www.stopthephonecallsorlando.com

Short Sale PDF editor for agents June 4, 2010

Posted by orlandoshortsalefl in Orlando real estate, Orlando Short Sale, Orlando short sale Realtor, PDF, PDF editor, short sale realtor.
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I wanted to let you know of a great tool I have found for editing PDF files. The software is called INfix from Iceni technology. As a REALTOR® who handles a lot of short sales this tool is a must. No more handwriting and printing out documents.

How many times have you had to handwrite the loan number on all your contracts? That is after you print out the contract, write the loan number and then scan and fax the document. With INfix you open any PDF document on your computer. Open a text box and write the loan number directly on the document with your computer. No need to print it out and then re-scan.

Now my next bit of good news. This software will allow you to fill in PDF forms and it highlights the areas for you to fill in. This is great for contracts and addendums that I would have had to print and hand write, then re-scan. No more wasting paper, keep it all in the computer and email or efax them.

The last part is try it before you buy it. You can download it for free and test it for yourself. After you try it you will buy it. This is a great time-saving tool for real estate agents. Give it a shot.

When you hire an agent ask them to show you their approval letters or some of their closed sales. You want to have an expert on your side. Wendy and I have this and we have the documentation to back it up. Remember foreclosure is the last resort. Contact me at www.scottnwendy.com or paganorealtor@gmail.com or you can use my 24 hour recorded info hotline 1-866-647-8425 EXT 104. Also check out this site I created for a report on the top 10 scams for homeowners facing Foreclosure. www.stopthephonecallsorlando.com