Real Estate Information

WOULD YOU ENTER THE BLACK DOOR?

Many years ago, in a country far away, a ruthless dictator terrorized his prisoners. On their execution day, each prisoner was summoned for an audience with the cruel dictator. Standing face-to-face, the dictator gave each condemned man a final choice - to either face the firing squad - or go through the "black door."

Having experienced countless episodes of torture and cruelty already, the prisoners invariably chose death over the unknown terror that they imagined must lie beyond the "black door." Finally, the day came when the dictator himself lay on his deathbed. Curious, his inner circle of advisors asked him, "What lies beyond the 'black door'?" His answer? "Freedom!"

People are still making that choice today - choosing lives dampened by fear, rather than taking a chance on the unknown beyond the black door. That awful, scary feeling that comes from "fear of the unknown" is often just enough to keep us from breaking out into the clear light of day that illuminates our success.

The next time an opportunity presents itself, yet fear threatens to smother success, take time to understand your fear. Make a list of what you fear may happen. Write down the worst that could happen. Next, make a list of the benefits you would reap by taking positive action. When the benefits exceed the risks, the decision will become clear.

Get in the habit of setting clear, concise daily goals for yourself. As you set and achieve them, you will notice that "fear of the unknown" begins to fade. You will accomplish more in a day than you otherwise would in a month.

Finally, remember one of my favorite and often used quotes: "Fear knocked at the door. Faith answered. No one was there."

Is now the time to buy real estate in Tampa Bay??  Judging by today's interest rates for regular mortgages and jumbo loans at a local bank, the answer is a resounding yes.

A 30 year mortgage with no points can be had for an APR or 4.7%.  This is for a normal loan, that is less than $417,000.  For a 15 years mortgage, the rate can be as low as 4.38% with no points. 

If someone wants to go to the higher priced homes for a jumbo loan, the rates are still terrific.  A $500,000 mortgage with 20% down could be a low as 6.721 APR for a 30 year note.  For a 15 year jumbo loan with 20% down and no points, the interest rate can be as low as 6.015%.  And with points, the rates can go even lower.

These are historically low rates and can't continue forever.  Yes, this is a great time to buy real estate in the Tampa Bay area.

KNOW WHICH DIRECTION TO TAKE?

Alice had no destination in mind when she began walking - no goal or objective to be achieved. She just wanted to "get somewhere." Might there be a parallel to that simple lesson in the business of everyday living?

In the average 168-hour week, chances are good that each of us will sleep for approximately 56 hours. That leaves about 112 hours for work and play. Whether or not we know which direction to take each week, we still have that same 112 hours.

If we choose a destination for the week - in the form of some personal or business goal - then set out in that direction, chances are good we will arrive. We will have -0- hours left at the end of the week, and will have achieved our objective.

The reverse is also true. When we allow the week to happen to us, vaguely hoping to "get somewhere," yet having no destination in mind, we still end the week with -0- hours remaining. The difference, of course, is that we accomplish no worthwhile objective.

How often have we been reminded of the importance of having goals and writing them down? With clearly defined goals, we can build a roadmap to our greatest achievements. Without them, we are like a ship without a rudder, unlikely to even get out of the harbor without ending up aground on the beach.

Choosing a worthy destination for our lives is a simple task. We get to choose any direction that excites and fulfills us. Then, once chosen, we need only construct our own "yellow brick road" to take us there.

Does HAFA make sense to you?  You're not alone.  Watch this 2 minute video for a very clear and simple to understand explanation of HAFA and loan modifications.

http://www.youtube.com/watch?v=8TXx8rKy-Ow

Now, wasn't that better than reading pages of verbiage that just put you to sleep?  We can help, contact us.  We are Certified Distressed Property Experts, or CDPE, and know how to help you through a trying experience.

Estate News

INSPIRATION FOR TODAY:

"To affect the quality of the day, that is the highest of arts."
- Henry David Thoreau

"To be happy at home is the ultimate result of all ambition."
- Samuel Johnson

"Before I built a wall I'd ask to know What I was walling in or walling out."
- Robert Frost

BUILD A WALL OF HAPPINESS!

To affect the quality of anything first requires action of some sort. Affecting is the opposite of passivity. In a passive state we can only BE affected, but we ourselves have no effect on our surroundings or other people. Hold that thought for a moment and consider next the result of your "affecting."

Ambition leads to action. Your ambition leads you to affect the quality of the day through some action. So what is the ultimate result of your ambition transformed into action? Johnson suggests it is "to be happy at home."

If, as Johnson recites, being "happy at home" is the ultimate result of your ambition, then why are you working so hard? Is there a way to avoid working evenings and weekends? Could you schedule your child's soccer game into the week's plans? Is that next appointment more important than celebrating life with your spouse at anniversary time?

One way to affect the quality of your day, which in turn may result in happiness at home, is to "build a wall," to paraphrase Frost. Keep in mind that walls may limit you if they are constructed of heavy gauge steel mesh rimmed with concertina wire. Walls can also be formed as a low hedge or a split-rail fence - even more simply as a line in the sand. Rather than limiting us, they become a mere reminder of how far we are willing to go.

As we affect the quality of our life and push our ambition to the limit, we may also make choices about the boundaries of our lives. By choosing sound principles of living, for example, we may say, "No!" to friendships with those who operate outside our boundaries of accepted activities. We may decline meaningless activities, or the occasional committee appointment, which robs us of our valuable time.

In the end, WE are solely responsible for affecting the quality of our individual lives. We must choose wisely.

In Florida there are many distressed properties and many of those homes are subject to foreclosure.  It is a good thing for you to understand the Florida foreclosure law if you plan to allow you home to go to foreclosure, or if you can't avoid it because the short sale process simply didn't work.

A valid option to foreclosure is a short sale, however many people who own distressed property do not have the time or patience necessary for a successful short sale, nor do many buyers.  Currently, banks are causing the short sale process to take up to a year, and in some cases even longer because of the backlog of distressed property.  That is a very long time to put your life on hold.

Click this link for Florida foreclosures to help understand the complex issues of foreclosure in Florida as well as the protections afforded the consumer.  While a short sale can be the best option to protect one's credit rating, sometimes circumstances don't allow enough time for the homeowner.  Hopefully, the banking industry will use the new HAFA guidelines to begin to streamline the short sale process for all distressed property owners so we can begin the recovery in real estate we are all looking for.

Keller Williams real estate agents in Palm Harbor volunteered their talents for a makeover of a home in Dunedin, FL.  The project was for a family that has adopted children and taken in dozens of foster children, many with handicaps. 

This was a large community service project by these real estate agents and several other groups that provided donations of time and equipment to help us make this a success.  Working strictly on a volunteer basis, the agents, along with the appropriate licensed professional electricians, installed a new air conditioner, new windows, a new sliding glass door, a clothes dryer, and insulated the ceiling and walls of a very large, unfinished play room for the children.  The Keller Williams real estate agents then painted the inside of the newly redone playroom, painted the outside of the addition, repaired outdoor playsets, swings and basketball net, and the fence in the yard.

Another group of agents then procured lawn services to mow the grass, trim it and blow off the debris.  The agents then weeded the flower beds and placed over a dozen bags of mulch in the flower beds.  The memorial garden on the patio in the backyard was cleaned up and mulched.  When the project was over, the playroom had a new air conditioner, new carpet, fresh paint inside and out, repaired playground equipment and freshly landscaped flower beds.

The Palm Harbor Keller Williams real estate agents all contributed large chunks of time away from their businesses to give back in community service to the wonderful blended family of natural, adopted and foster children in Dunedin.  All were tired, and all felt good about giving back.  To learn more, visit the St. Pete Times link about the Keller Williams Red Day of community service.

Looking for something that is fun to do in Dunedin, FL.  Plan to take part in the Dunedin 2nd Friday wine and art walk.  This is a regular event, happening on the 2nd Friday - go figure - of the month.  There are more than 30 merchants offering prizes, drawings and other give-aways throughout the event.  Wine tasting begins at 5:30 PM.

There will be a fashion show hourly on the Pioneer Park Stage, beginning at 5:30 until 8:30.  So come on out to historic downtown Dunedin on the 2nd Friday of the month for an art walk, wine and fun.  Great restaurants and shops, all on a beautiful waterfront setting in Dunedin will make this an evening of fun.  Much better than watching TV reruns.

If you would like to get an idea of the value of your home, especially in the Dunedin area, simply complete request below.  No one will call you unless you ask us to. 

Remember when getting a home loan was NOT impossible?  Thanks to the creation of the Appraisal Management Company or AMC for appraisals, experienced appraisers are a dying breed.  Well, VA home loans are a great opportunity to get a loan.  Why, you may ask?  Here are a few reasons.

100% financing - NO down payment for loans less than $417,000 as long as the veteran is fully entitled.

Monthly mortgage insurance is NOT required??  This means a lower monthly payment.

The seller can pay ALL or the buyers' closing costs AND can the seller can use the 4% seller concessions allowed to pay the VA Funding Fee or credit card debt to help the buyer qualify for the loan.

ASSUMABLE.  If the buyer qualifies for the loan, the loan may be assumed.  This is a wonderful resale option if interest rates at the time of resale are higher than the VA loan.

There are NO prepayment penalties.  The borrower may payoff the loan at any time with no penalty or restriction.

With these very attractive options, 100% financing, no mortgage insurance, 4% seller concessions and all closing costs covered, ASSUMABLE and no pre-payment penalties, it is well worthwhile to look at a VA loan.

And there is one more huge benefit, VA has its own experienced appraisers and does not use Appraisal Management Companies or AMCs.