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All Posts Tagged Tag: ‘Short Sales’

3043 Juniper Dr Edgewater, FL 32141- $85,000.00

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Property Details Price: $85,000 Bedrooms: 2 Bathrooms: 2 Square Footage: 1250 Lot Size: 0.23 acres Year Built: 1985 Type: Single Family   Great property in Florida Shores near some of the best fishing opportunities in Mosquito Lagoon the “Redfish Capital of the World”. Light repairs are needed on this one to make it a good home or rental. The previous …

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Volusia County Ranked Top in the Nation for Flipping

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Opportunity is Everywhere! If you know how to capitalize on it? A recent article in the Daytona Beach News Journal highlighted flipping homes as a great way to subsidize your retirement. Ranked as the top county in the entire US for flipping houses if you know where and how to find the great deals. It used to be that one …

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A Tale of Two Buyers!

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Retail Buyer vs. Real Estate Investor Which is the better option? In our hypothetical scenario, we have two properties. They are identical.. They are sitting across the street from each other. Their respective buyers purchased their properties at the same time for the same price and they both financed their properties with an 80/20 first and second mortgage combination. We …

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Florida HB 87, The Good, The Bad and The Ugly!

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Should you respond to a Foreclosure Notice? Florida Gov. Rick Scott passed a bill Friday he said will help the state’s housing market and in turn the state’s overall economy. Florida H.B. 87 was introduced in January by Rep. Kathleen Passidomo and passed both state legislatures in May with bipartisan support. “Florida’s housing market is important to our economy’s continuous …

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REO’s Or Short Sales?

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What Side of the Fence are You On? Historically, a real estate owned tag indicated that a property was discounted. The explosion in the number of REOs became a great way for investors and consumers to purchase properties for a steal. However, this is not always the case anymore We have seen the news that last year’s home prices nationwide …

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Is the Housing Recovery for Real in Daytona Beach, Florida

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Is supply Raising Demand? For months, I have mentioned in passing the potential impact the so-called “shadow” inventory might have on the housing recovery and residential investors in general. While everyone knew this inventory, comprised of homes with loans more than 90 days past due that have not been foreclosed and upon and are not on the market, existed, it …

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Short Sale Standards for Military Personnel in Daytona Beach, Florida

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US Servicemen Eligible for Short Sale help! Lenders offer cash payments once a borrower wants to pursue a short sale, said former Air Force officer George Chung, senior vice president of Wells Fargo Home Lending.  The incentive offered by Wells Fargo is generally about $3,000, Chung said. That’s over and above the bank’s agreement to allow the house to be …

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If you are looking REO’s, Hold your Breath!

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Wells Fargo and Citigroup have halted the vast majority of their foreclosure sales in multiple states following the release of new guidance by the Office of the Comptroller of the Currency. The abrupt slowdown came in response to the OCC’s April release of minimum standards for foreclosure sales, which are usually the final act in the foreclosure process. Within two weeks …

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Zombie Foreclosures in Daytona Beach continued….

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Zombie Foreclosures. . . According to a 2013 study performed by RealtyTrac, a real estate data company, there are currently more than 300,000 zombie properties in existence. Almost a third are in Florida, with a whopping 90,556 zombie foreclosures on the market. They exist in every market throughout the country. If you look a them creatively, they are really diamonds in the …

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Short Sale Valuations Impact Housing Market in Daytona Beach, Florida

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New Policies from the GSE’s Speed up Short Sales in Daytona Beach, Florida Both Fannie Mae and Freddie Mac have implemented policies to expedite the short sales process, including new resources to help determine property values, according to panelists at a property valuation forum during the Realtors Midyear Legislative Meetings &Trade Expo here.   Short sales continue to represent a …

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