Business Week reports that lenders are stepping up their efforts to collect on deficiency judgments of mortgage defaulters. The article reports that banks are seeking deficiency judgments in both short sale and foreclosure scenarios.
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Here is a video of a Las Vegas homeowner calling into Your Money on Fox News. The caller poses the question of whether he should strategically default on his underwater home. The panelist present arguments for both sides of this debate: Where do you stand on this debate? The NY Times has an informative article about seller expectations and the consequences of listing a home for sale at an unrealistic price point. In our market, distressed properties are the baseline which are setting the pricing bar across most communities and sectors. If you are selling in a community that has short sale or foreclosures, [...] If there is a silver lining in the SW Florida real estate bust, it is that I no longer get stacks of low-ball mail solicitations for vacant lots that I own in Cape Coral. Today, a different sort of Cape Coral vacant lot solicitation was sitting in my mailbox. It was an offer from the [...] Market stats recently released by the Greater Fort Myers and the Beach MLS substantiate what we are seeing in the trenches. Sales in December 2008 were up a whopping 181 percent over December 2007. In December, 1,034 homes sold, up from 367 a year ago. Buyers are back in a big way and the [...] A recent Washington Post article titled, Working Harder For Every Sale, chronicles several Realtors going the extra mile to sell a clients home. I applaud the creativity and initiative put forth by these excelling realtors. Recent statistics from the National Association of Realtors suggest that 82% of all real estate purchases begin on-line. [...] The Washington Post discusses the rapidly growing importance of web 2.0 practices in the real estate industry. Wikipedia defines Web 2.0 as: Great column by Chris Griffiths in the Naples News for home sellers about inspecting your MLS listing. Making a few key changes to the listing information can greatly improve your house’s chances of selling. A stale, incomplete or inaccurate listing in the MLS system truly hurts your chances of sucess. Poor MLS listing photos, [...] If you think Feng Shui is a steamed dumpling then you better keep reading the rest of this post. Staging a home prior to putting it on the market is definitely the rage throughout the real estate community. Locally, many sellers of luxury and high-end properties have dipped their toe into the home staging waters. [...] New site for selling pre-constructionA day in the SW Florida real estate trenches rarely passes without speaking with someone that has made a deposit on a pre-construction condo. The conversation usually goes something like this: client: Hey Mark, Whatdoya think about (fill in blank with project name), I bought a condo there? me: what are your plans, [...] 5 tips to success a successful relationship With the sheer number of real estate professionals operating in the area, selecting one is like a box of chocolates, You never know what you’re gonna get. It is important to honestly evaluate the merits of utilizing the convenient neighbor, relative or fellow church member to represent you [...] Real-time home valuation tool launched Real-time self-service property valuations just got a little easier for web-savvy home owners. Zillow, a web-based property valuation tool, launched today. The service, described as a Kelly Blue Book for homes, provides an estimated value of a home utilizing information culled from county tax records. An especially useful feature allows the [...] Home makeovers speed selling process How many resale homes have you visited where every wall is painted builder white and clutter dominates every available horizontal surface? An emerging trend in selling a home is the process of staging property prior to putting it on the market. Thank you to Brand Noise for this piece on home staging. Professional redecorating to accelerate saleReal estate agent Charlotte Hedge tried for six months to sell the 1920s waterfront sea captain’s house. Narrow hallways and small rooms made it difficult, because “people couldn’t visualize what to put in these nooks and crannies and little rooms,” she says. So Hedge tried a hot new marketing tool: She [...] Newcomers changing real estate industry A press release from issued today by Lead Lease caught my eye, Internet Entrepreneurs Will Take Control of the Real Estate Industry. While I don’t think much of the expensive hosting services offered by Lead Lease, I couldn’t agree more with the headline that technological innovators are sure to significantly impact [...] Don’t let greed impact decision making process Harold Bubil of the Herald-Tribune comments on seller greed in his recent column. “In many markets across the country, listings [...] The future of real estate search Check out Trulia.com, a site dedicated to real estate search. This site developed by some smart Stanford grads, represents the next generation real estate experience. Trulia appears to me to be what the off-spring of a marriage between Google and Realtor.com would look like. The truly fascinating aspect of Trulia is [...] Most escrow now held at title companies A change that has occurred in Florida real estate practice is for title companies to hold escrow funds rather than a broker. The Florida Real Estate Commission (FREC), which governs the industry, and the Florida Association of Realtors both endorse this idea. The FREC record keeping and reporting standards are [...] Deceptive land acquisition pitches Local vacant land investor Frances Snyder has acquired over 50 lots over the last two years, netting at least $400K in the process. She is an avid letter writer and seems to have a continually changing sob story to try and convince land owners to sell her their property. Her pitch repertoire includes: [...] Many property listings are not customer friendlyThe market in Lehigh never ceases to amaze me. Currently property is escalating in price on an almost daily basis and investors are snapping up every well-priced parcel within hours of it hitting the market. A common practice among some many Lehigh realtors is to ask the buyer to [...] Uninformed owners hooked by below market offers Several local firms and individuals are reaching out to lot owners located afar with below market and often misleading purchase offers. With the recent price escalations in Lehigh, vacant lots that were selling for $6000 two years ago are now routinely commanding over $40,000. Many of the original buyers of [...] |
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