Just a few steps to help sell your home…

1. Look at your home through the buyers eyes.
2. Visit open houses in your neighborhood. Are similar homes priced lower? Selling prices may have dropped since your first comparative market analysis. You want to stay ahead of the competition. If you do lower your asking price, consider a figure slightly below those of other comparable homes if you are interested in a speedy sale.
3. Don’t be present for the showings. The presence of sellers can make it difficult for prospective buyers to take their time or talk openly with their partner and agent.
4. Ask your Realtor to talk to other buyer agents that have shown your home. The feedback from their clients can guide you in making home repairs, toning down your décor, making landscaping improvements and the like.
5. Neutralize your color scheme. Most buyers prefer pale, neutral colors that make it easier to imagine a new home as their own.
6. Take every offer seriously! Determine the lowest price you find acceptable, and consider anything more as icing on the cake. In a longstanding dry market you may even have to sell at a loss. You don't want to alienate a potential buyer who has solid financing because you've set your sights unrealistically high.
If you are thinking of selling, we would me more than happy to provide you a market analysis of what the properties are selling for. There are some great websites out there, but we can give you up to the date information on which properties are selling and for how much.
We look forward to assisting you.

Celebration – Stats as of April 2, 2009

Celebration offers a combination of condominiums, townhomes and single family homes.  Here is a brief snapshot of the current state of the market here in Celebration.

As of April 2nd there are currently 390 (a reduction of ACTIVE inventory of 7% over the previous month) properties listed in our MLS system ranging in price from a one bedroom/one bathroom condominium in Siena at $94,000 (a short sale) to $3.45 Million for an estate home that is over 6400 square feet.
ACTIVE = 390:  51 are pre-foreclosure/short sales (making up 13% of the inventory) and  17 are bank-owned (making up 4.36% of the inventory)
PENDING = 63 TOTAL:  36 of the 63 that are pending are either bank owned or short sales, making up 57% of the pending inventory.
SOLDS (March 3 to April 2nd) = 18  in the last 30 days (7 were condominiums/Townhomes and 11 = Single Family Homes) 8 Bank owned/2 Short sale/8 Seller owned

I will continue this on a monthly basis in the hopes it will provide you in a brief snapshot of the market in Celebration. I hope you find it useful!

If you would like a specific Market Analysis for your home, please contact us directly.

We look forward to serving you.

Hardship Package

Short Sale Packages will vary from Lender to Lender. As your Realtor, an authorization letter will allow me to communicate with your Lender and facilitate the entire transaction on your behalf. This will help alleviate some stress of you!
The basic requirements of a short sale package include:
1. Cover Letter – which I will prepare.
2. Authorization Form to Release Information – The lender may have their own, but I also can provide a generic form which can be sent to the lender.
3. Hardship Letter – There are certain points you want to be sure to mention in the letter. I provide my sellers a sample to start with. One key point is that you will want to apologize for being in this unexpected financial situation and that you cannot continue to make the payments and you NEED HELP!
4. Financial Statement – Be truthful and honest about your financial situation. Disclose your assets and liabilities. Most Lenders will have their own financial statement to complete.
5. Listing Agreement
6. Purchase/Sale Agreement
7. Comparative Market Analysis
8. Last 2 months of Bank Statements – You will need to explain unaccountable deposits and large cash withdrawals.
9. Payoff Information for All Mortgages
10. Net Sheet/Preliminary HUD – Please be sure to disclose any outstanding HOA fees, liens on the property, 2nd mortgages, and/or Home Equity Line of Credit.
There may be options besides foreclosure. If you have questions, please be sure to give us a call or visit our website.

Acceptable Hardships

A hardship condition is an unexpected financial crisis. This hardship is the reason behind most delinquent mortgage payments. HUD recognizes the following as valid reasons and hardships to be acceptable for default. Please review the list, if you are behind on your payments or feel you may be soon in falling behind, please call me! There may be other options besides foreclosure. I know it is hard for you, and I want to help! Please beware of companies or people that promise to make payments on your behalf, or those that may ask you to sign a paperwork without allowing you proper time to review - because you may be signing your home away.
Here is a quick list of 23 hardships:
Death of Principal Borrower
Death of Principal Borrower’s Family Member
Serious Illness of Principal Borrower
Serious Illness of Principal Borrower’s Family Member
Marital Problems (Divorce, Separation)
Unemployment
Lessened Income
Property Abandonment
Excessive Obligations
Long Distance Employment Transfer
Military Service
Unable to sell property
Unable to rent property
Loss due to Accident, Fire or Natural Causes
Fraud
Servicing Problems
Payment Adjustments (ARM)
Incarceration
Payment Dispute
Imposed Costs (Energy/Environment)"
Incurable Property Problems
Ownership Transfer Pending
Principal Borrower has business failure

Celebration – Current Stats March 2009

“Winner of Americas Dream Town for 2007! Celebration is a planned development community created by Disney ® where residents gather on front porches, recreational areas and downtown events. Celebration is a community built on a the cornerstones of: Community, Education, Health, Technology, and a Sense of Place. Amenities include public schools, hospital, community parks, playgrounds, swimming pools, tennis courts and miles of walking and bicycle paths. Celebration is a place to call home."

Celebration offers a combination of condominiums, townhomes and single family homes.  Here is a brief snapshot of the current state of the market here in Celebration. As of March 3rd there are currently 419 Properties listed in our MLS system ranging in price from a one bedroom/one bathroom condominium at $99,900 (a short sale) to $3.7 Million for an estate home that is nearly 7,000 square feet.
ACTIVE = 419: 53 are pre-foreclosure/short sales (making up 13% of the inventory) and 15 are bank-owned (making up 3.5% of the inventory)
PENDING = 55 TOTAL:  32 were either bank owned or short sales.
SOLDS = 14 in the last 30 days (8 were condominiums/Townhomes and 6 = Single Family Homes) 2 Bank owned/1 Short sale/11 Seller owned

If you would like to search for a great deal be sure to visit our website. Or if you would like a Market Analysis please contact us directly.

For Sale by Owner, please take note

You are approached by a prospective buyer and they want do a lease purchase, or maybe they ask you to sign the deed over to them, but they promise to continue making the payments on your behalf. Please, please, please if you are asked to sign any paperwork, have it reviewed by a real estate Attorney. It is so important in this economic climate to have representation. In speaking with other for sale by owners, many of them are now working with Realtors and their team of professionals because of these type of experiences.  There maybe cases where the above scenario may have worked, but unfortunately there are people that may be taken advantage of.
If you would like to sit down and talk about how we can work together to sell your home, please contact us.  We look forward to partnering together and getting your home SOLD!

First Time Homebuyer Tax Credit

I am sure you have heard the stimulus package included a revision of the homebuyer tax credit. Here is a brief overview:
WASHINGTON – Feb. 17, 2009 – How does a first-time homebuyer take advantage of the $8,000 tax credit that President Obama is expected to sign into law tomorrow? It comes with a few rules. According to the most recent analysis, the following rules will apply – though things could change as tax professionals weigh the details:
• The deduction is worth 10 percent of a home’s value up to $8,000, which means all homes worth more than $80,000 could qualify for the maximum amount.
• There is an income limit to qualify. A married couples’ modified adjusted gross income (MAGI) should be under $150,000 and single filers’ MAGI should be less than $75,000.
• Partial tax credits may be available for married couples with MAGI incomes over $150,000 but under $170,000, and single filers with incomes over $75,000 but under $95,000.
• If married couples file separately, they can both claim 5 percent of the home purchase ($4,000 each for a home over $80,000) on their tax returns.
• It’s a tax credit, not a deduction. That means the entire amount goes back to the first-time homebuyer unlike deductions, such as mortgage interest, that are subtracted from gross income before tax is calculated. If qualified for $8,000, the buyer gets $8,000, even if they would not owe that much in taxes otherwise.
• The tax credit applies to homes purchased between Jan. 1, 2009, and Dec. 31, 2009.
• The tax credit does not have to be paid back, providing the homebuyer keeps the property for at least 36 months and resides in the home.
• To qualify as a first-time homebuyer, the purchaser cannot have owned a home within the previous three-year period. However, ownership of a vacation home or rental home does not disqualify the buyer.
• If purchasing a new home, the effective date to receive the credit is the first day the homeowner actually lives in the house. If construction began in 2008, that buyer could still qualify. And if construction begins in 2009 but the owner does not take possession until 2010, the buyer would not qualify.
• The tax credit can be claimed on 2008 income tax forms even though the purchase took place in 2009. A buyer could close on a home the same day that President Obama signs it into law, fill out their income tax forms the next day, and receive the tax credit fairly quickly.
The tax credit is not a downpayment, but it could be used toward a downpayment if first-time homebuyers plan ahead. U.S. taxpayers have money withheld from every paycheck for income taxes. If they owe more tax than the amount deducted, they pay the IRS; if they owe less, they get a tax refund.
By anticipating at least an $8,000 refund in early 2010 when they file 2009 taxes, these buyers could cut down on their tax withholding this year and save the money toward a downpayment. There is one caveat, however: Should they not buy a home in the qualifying period, they would still owe the IRS the money, and reducing their withholding amount could result in a high bill at tax time.

Please consult your accountant to confirm qualification.
Be sure to SURF the MLS today to see what buying opportunities are available