Poinciana Fl Real Estate Report. HELP!!!

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

Buy me!!

 

Hi folks. Today I want to try to get my head around the distressed property market in Poinciana FL. By distressed properties I mean, banked owned and short sale listings. These stats are from the Mid-Florida Regional Multiple Listing Service and assume that the data was entered correctly. I’m sure there is a small percentage of incorrect data so the percentages may be a tad low. If I had to take a guess I would say they are low by about 2%-3%.

So what I’m doing is comparing the figures for Poinciana neighborhoods, zip codes 34758 and 34759 excluding Cypress Woods, Crescent Lakes, Doral Woods, Lake Marion Golf Resort and the other “sub” subdivisions WITH Kissimmee excluding Poinciana.

I want to see what percentage of the Active, Pending and Sold listings since Jan.1, 2008 are distressed properties(REO/SS).

My goal is to see how Poinciana Villages stacks up. Let’s see what we have:

THIS CHART IS FOR POINCIANA

POINCIANA

ACTIVE

PENDING

SOLD

TOTAL

1184

116

101

REO/SS

474

84

63

% OF TOTAL

40%

72%

62%

THIS CHART IS FOR KISSIMMEE

KISSIMMEE

ACTIVE

PENDING

SOLD

TOTAL

3889

350

368

REO/SS

855

153

108

% OF TOTAL

22%

44%

29%

Now what does all this mean? Well, the obvious is that Poinciana is quite bit worse off than Kissimmee. It also shows me that the distressed properties are on the rise in both markets. This is evident by the percentage of pending listings that are distressed properties.

It’s also evident that the market in Poinciana is being dominated by distressed properties. While this appears to be a negative it’s actually a positive. In my opinion, it means we are getting near to the end of the declining market. Now this doesn’t mean things will be turning around in the near future it just means that we are getting to the stage in the decline where prices are reaching the bottom.

Let me explain. And please remember this is just my opinion. My crystal ball is still at the shop getting repaired so I’m basing this on my market knowledge and what I see and hear in Poinciana.

In early 2007 we had the mortgage “crisis”. During this time Sellers were still being unrealistic about pricing and there were many over priced properties just sitting on the market. All the “Flippers” that had swooped in on Poinciana during the boom of 2005 and 2006 were still holding out for the big bucks. Market reality had not settled in yet.

In the latter part of 2007 these property owners started struggling and the new “buzz word” was short sale. Our market was saturated with short sale listings. Unfortunately, the Lenders were either not prepared for the onslaught, of short sale requests, or they just weren’t interested. Some of these short sale properties were sold but the majority were foreclosed on.

Now, we have far more bank owned properties (REO) on the market than short sale listings. Buyers are not interested in short sales any more. And why should they be? Why wait for months, for a deal that may or may not close, when they can just purchase a REO property?

Pending listings and sales have actually increased, just a tad, over the last 60 days. This means that Buyers are now taking notice of the REO properties. In fact some of these properties are being scooped up in a matter of days. While inventory hasn’t decreased, properties are starting to sell, if the price is low enough.

Anyway, over the next 6 months or so we should start seeing a decrease in inventory. Once this starts happening values should start to level out. However, we are still in for a rough ride for the rest of this year. Hopefully, the first part of 2009 will be better and we will be on our way to recovery.

This is my analysis and I’m sticking to it. What say you?

Sell Poinciana Real Estate Poinciana Real Estate Poinciana Real Estate Poinciana Real Estate Agent

Copyright © 2008 http://www.brokerbryant.com/ | All Rights Reserved

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://www.brokerbryant.com/
***The content of this blog is solely my opinion*** 

Poinciana Short Sales For Sale. Your Home Awaits!

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

Hi folks. Here’s a sampling of a few of the short sale listings that are being offered “for sale” by Tutas Towne Realty in Poinciana FL. If you looking for an affordable place to call home one of these could be the home for you. CLICK ADDRESSES FOR MORE INFO

521 Eagle Ct Poinciana FL 34759 $99,000

521 EAGLE CT KISSIMMEE FL 34759 

Folks this is a great opportunity to own a 4 bedroom home in Poinciana for a reasonable price. The house is in very good condition. Ceiling fans in all rooms. Tile flooring through out. Bedroom 3 and 4 having a connecting bath and would make a great suite or master/office setup. Listing price may not be sufficient to cover all encumbrances, closing costs, or other seller charges and sale of Property at full listing price may be conditioned upon approval of third parties. This is a short sale and will require minimum 60 days to close. Seller will contribute towards your closing cost if the price is right. 

845 San Jose Ct Kissimmee FL 34758 $89,000

845 San Jose Ct Kissimmee Fl 34758

Well maintained 2 bedroom an a large back flag lot. Very private location. Open floor plan with split bedrooms. Almost a 1/4 acre lot. Easy show. Folks if you are looking for a well maintained 2 bedroom home with over 1100 sq ft living area then this may be the one. Sits on a very private back flag lot. New tile flooring in the dining area. Inside utility room. You won’t find a better home for the price. So act today! 

510 Parsley Ct Poinciana FL 34759 $79,000 

510 PARSLEY CT POINCIANA FL34759

Great price on a 3/2 townhouse at Lake Marion Creek. Screened rear patio, down stairs master suite. Can be used for short term rentals. Tile flooring in living room and kitchen. This is a short sale and will require 3rd party approval. Listing price may not be sufficient to cover all encumbrances, closing costs, or other seller charges and sale of property at full price may be conditioned upon approval of third parties. Call for details

MORE INFO FROM BROKER BRYANT… THE SOURCE FOR POINCIANA REAL ESTATE

Sell Poinciana Real Estate Poinciana Real Estate Poinciana Real Estate Poinciana Real Estate Agent

Copyright © 2008 http://www.brokerbryant.com/ | All Rights Reserved 

I will pay you tomorrow for a bailout today!

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

Give me some money!!!Tutas Towne Realty, Inc is looking for a bailout. I don’t need $700,000,000,000.00 but could use about $120 in order to fill up my Ford Expedition’s gas tank.

I will use this bailout to purchase assets(gas) and can assure you that in the future these assets will increase in value and you will be able to sell them off to recoup your “investment”.

I promise to only let honest, ethical folk in my truck…..to take advantage of this bailout. 

I will pay you tomorrow for a bailout today”

Please help.

Buying Central Florida Foreclosures Part 1

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

Purchasing Florida Foreclosures

FLORIDA DISTRESSED PROPERTIES 407-873-2747

So…..you want to buy a foreclosure? Here are a few things you need to know.

When offers are made we have to present either a pre-approval letter from your lender and/or proof of funds i.e. bank statement or certified letter that funds are available from a credit line. A deposit of $1,000 to $5,000 in certified funds will be required. 

If you need to finance, the seller (bank), may require you to be qualified through their preferred lender. You don’t have to use them but you may have to be qualified through them. 

In my area, Central Florida, foreclosures are selling for 95% to 97% of listing price. You will not get a foreclosure for 50% off listing price. 

The Seller (bank) does not care that you want a response in 24 hours. They will respond when they are ready. They may even sit on your offer for a week or two to see how many other offers they get. 

All foreclosures are sold “As Is” with right to inspect. This means you will have 7-10 days to have inspections completed. You may also be required to have the utilities cut on in your name for the inspections. The seller is not obligated to repair anything BUT you are also not obligated to buy if the inspections are not satisfactory. 

The purchase contract will have very strict time lines and may even have a $100 or more per diem charge to you if not closed according to the date negotiated. Time is of the essence.

There’s more…….but will talk about it later. 

If you are interested in purchasing a foreclosure or would like a list of available properties CLICK HERE.

CENTRAL FLORIDA REAL ESTATE SHORT SALE INFORMATION

POINCIANA FLORIDA REAL ESTATE MARKET REPORTS

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

MAKE AN OFFER ON ANY CENTRAL FLORIDA PROPERTY  HERE

MORE INFO FROM BROKER BRYANT… THE SOURCE FOR POINCIANA REAL ESTATE

Sell Poinciana Real Estate Poinciana Real Estate Poinciana Real Estate Poinciana Real Estate Agent

Copyright © 2008 http://www.brokerbryant.com/ | All Rights Reserved  

Hi folks. You don’t want to miss out on this one. Excellent vacation home currently being rented out by the night. On site management. Marina, pool, clubhouse and so much more.

97501 Overseas Hwy Unit 611
Key Largo , FL 33037

Co-listed by Tutas Towne Realty, Inc and Coco Plum Realtors, Inc

Via Kelly Willey Luxury Florida Keys Real Estate:

 

 

Just listed in fabulous Mariner Club in Key Largo in the Florida Keys

$450,000

$425,000

IF YOU HAVE NEVER VACATIONED IN THE FLORIDA KEYS, NOW IS THE TIME TO COME ON DOWN…

OUR PRICES ARE NOW AFFORDABLE.

THERE ARE MANY FORECLOSURES AND SHORT SALES AVAILABLE THROUGHOUT THE KEYS LIKE THIS EXCEPTIONAL UNIT IN MARINERS CLUB. IT HAS 4 BEDROOMS AND 4 FULL BATHS AND IS LOCATED IN A GATED RESORT COMMUNITY WITH BREATHTAKING POOL, DOCKAGE AND A SUPERIOR HEALTH CLUB FACILITY.

 

KEY LARGO FLORIDA KEYS REAL ESTATE PRE FORECLOSURES,SHORT SALE WATERFRONT SINGLE HOM

 

Boasts a 3/3 on one side and an additional 1/1 on the other

 

KEY LARGO FLORIDA KEYS REAL ESTATE PRE FORECLOSURES,SHORT SALE WATERFRONT SINGLE HOM

 

Although short sales sometimes be difficult to get approved, this one is being listed by Coco Plum Realtors and has the famous, Bryant Tutas as the broker negotiating the short sale with the bank. So I am confident the new buyer will have the best possible person working on this file to get the offer accepted.

 

Look me in the eyes.

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

 OK, today I’m going to write a little bit about “Listening presentations”. I actually wrote a post about this quite a while ago titled “Make your listing presentation a listening presentation”. Recently I had a listing presentation that really brought this concept home for me.

Now folks, I do want to say that all markets are different and all REALTORS® are different, so what works for me, may not work for you and vice versa.

About a year ago I bought a tablet computer. My thoughts were that I could use this in my presentations with a really nice power point show and could give the potential Sellers an online tour of all the different marketing that I do and show them how and where their properties would be displayed. Sounds like a good plan doesn’t it? Well, I have to say, I didn’t like it all.

The way I handle my listing presentations is basically to just sit down at the table and have a conversation with folks. I ask questions and then sit back and listen. My goal is to connect with them and build trust. Folks love to talk about themselves and by listening to them I am able to base my presentation on what their concerns and needs are not on me. My presentations are all about them and because of that every presentation is different. I have no script or predetermined game plan. I’m very prepared but I’m flexible.

So, the first time I tried to use my tablet presentation, I got about five minutes into it, closed it up and pulled out my paper presentation. I just wasn’t comfortable. It was too cold and regulated. The biggest problem was that the Sellers and I were looking at a computer screen instead of looking at each other. No eye contact.

What I took from this experience is that I need to continue keeping my presentations very personal. Technology is a very good thing but it can’t replace human contact. Look them in the eyes. Concentrate on them. Make a connection and build trust. At least my tablet still works well for reading in bed. What say you?

***Broker “Turner” Bryant image compliments of Craig Schiller.

Are you a Florida REALTOR(R) looking for a change? Check it out. http://TTRealtyNet.com

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

 Copyright © 2009 http://www.brokerbryant.com/ | All Rights Reserved

Active Rain Family Does it Again–This Time With Short Sales!

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

 

I LOVE Debe Maxwell. OK I promise I did not pay her to write this post. In fact, I had completely missed it until today. Better late than never!!! That applies to Short Sale Basics too. You can join in at anytime. The entire 5 part series is being recorded on MP3.

No matter when you show up you’ll be on time. If High School would have worked like that I may have stayed!!

If you want to register just send Wendy or me an email at ShortSalebasics@Gmail.com or click on the registration button in my side bar.

OK……enjoy Debe’s post. I did!

 

Via Debe Maxwell, Realtor® Let’s Talk CHARLOTTE! (Helen Adams Realty):

Active Rain Family Does it Again–This Time It’s Short Sales!

Short SalesI had the honor of participating in the first of a five-part series on Short Sales with Bryant Tutus & Wendy Rulnick and the class was absolutely wonderful!  As you all know, I’ve been very fortunate to live in an area that did not have the ‘bubble’ to burst but, the national economy has slowly but, surely ‘trickled down’ to Charlotte!  We had never even heard of short sales in 2007 and now, we are seeing them–and we need HELP!

Bryant (aka BB–TLW‘s ‘other-half’!) and Wendy, fellow Active Rain members, have offered a five-part “Short Sale Basics” course via webinar at a very affordable price.  They have both been participating in short sales for many years and together, share a wealth of knowledge that they’re freely sharing with us!  
Okay, it’s not really ‘free!’   

After some guidance with my first few short sales from TLW, I realized that anything and everything that I could get my hands on that related to short sales was of utmost importance for my very-near-future–and my clients.  With the wave of short sales hitting our area now, it has become increasingly stressful to watch agents who don’t have a CLUE, list short sales and then have them turn into nightmares–not only for the sellers but, the buyers who are patiently waiting lender approval–that never seems to come to fruition.

I would just like to thank Broker Bryant & Wendy for so generously sharing their knowledge and helping those of us who do want to become perficient in this process, succeed–and, of course, TLW for getting me started until class was in ‘session!’  You guys are awesome!  

Short Sales

A few of the short sale terms that we touched upon during the first session.

Creative Commons License Image above created by the Wordle.net web application are licensed under a Creative Commons Attribution 3.0 United States License.  

Debe in Charlotte

All Your Short Sale Questions – Answered

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

 

What more can I add? This is an awesome opportunity to Learn, Know and Grow.

 

Via Wendy Rulnick “Its Wendy!” Destin Short Sales (Rulnick Realty, Inc.):

Short Sale courses

 

Are you a short sale specialist? Are your hands cramped from using the phone?  Is your neck permanently twisted from being on hold all day? Are you tired of your faxes getting lost, buyers walking and your files being closed?  What is going on?  How can you improve your short sale processing and get an “edge” on success?  Well, we’ve got a solution for you.

On Saturday, August 29, at 11:00 Eastern, Bryant Tutas and I will be interviewing a working short sale negotiator from a “Top 5” Servicer.  Believe me, this is a big bank that you have likely dealt with, but he has to remain anonymous or he could lose his job .  Friends, we’ve lassoed a big one for you to answer any short sale questions you’ve ever had.  Get out your calendars, pen and paper and get ready!

Do you want to know:

What is the best question to ask when you follow up on your short sale?

What are the short sale phone reps looking at on their computer screens?

How are all those faxes separated and imaged in?

What qualifications do short sale negotiators have?

Why do they tell you “No” when it makes sense to you?

Why do they deny your BPO and comps?

Do they care if the buyer is going to “walk”?

What is going on with your package after two months of waiting?

What happens with Fannie Mae files?

What agents get the best treatment and why?

What would the negotiator tell you if they were allowed?

What can you do to mess up your chance of approval?

Why do they cut your commission when they are the junior lien?

How can you get them to reduce the promissory note or cash contribution?

If you want answers to these questions and more, join me and Bryant Tutas when we interview The Negotiator of a “Top 5” Servicer this Saturday, August 29 at 11:00 Eastern. 

It is not necessary to be there live – we will send the recorded MP3 for everyone who signs up.  The cost is a modest $27 to pay him for his time. 

So, get in YOUR questions.  This is real, this is “insider”, and this information is going to help YOU! …..  Sign up below!

 

Wendy Rulnick, Broker, Rulnick Realty, Inc. 

www.shortsalesuperstars.com

432+ Short Sale Agents to help you.

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

www.ShortSaleSuperStars.com

Hi folks. We have another great discussion going on over at www.ShortSaleSuperStars.com.  This one is about “highest and best” offers and how they relate to Short Sales.

Some Short Sale Agents believe that holding out for “highest and best” on a Short Sale listing is jeopardizing the Seller. They feel we are playing around and may cause the Seller to get foreclosed on because we didn’t get a contract in time.

Then there are those like myself that strive to get the best contract we can for our Sellers. We want to limit our Seller‘s tax and deficiency ramifications in the future.  

Most of the Short Sales I deal with are “flips that flopped”. Vacant properties that need to be sold. Unless there is a looming auction my goal is to have the property under contract within 30-60 days at a price I can justify to the lender. Highest and best is the offer I am looking for in this period of time.

One of the keys is that I know my market cold. I know what I can get for the property and how long it will take to get it. I’m not guessing and I’m not placing my Seller at risk.

I completely agree that the ultimate goal is to get the property sold. A Short Sale listing should never just sit on the market. They sit because agents are not familiar with the market and do not price the property properly. It has nothing to do with waiting for the highest and best. It has everything to do with lack of knowledge.

The www.ShortSaleSuperStars.com site is to help Short Sale Agents learn, know and grow. The only way we can do that is by having these types of discussions.

There are now 432 Short Sale Agent members of www.ShortSaleSuperStars.com If you haven’t joined yet then please take a moment to do so. It’s FREE and it’s priceless if you are dealing with Short Sales. We have some of the brightest Short Sale Agents in the country sharing and helping each other. We’d love to have you.

The only caveat is that we do not allow whining. www.ShortSaleSuperStars.com is all about finding solutions to get Short Sales closed. The Short Sale Agent members LOVE Short Sales and love helping others. Fair enough?

Wendy and I hope you’ll join us. Together we CAN make a difference.

Available Short Sale Agent Training:

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

Copyright © 2009 http://www.brokerbryant.com/ | All Rights Reserved

 

Do you have any idea who holds the mortgage to your property?

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

http://centralfloridashortsales.com

Hi Folks. A few weeks ago I decided to start asking my past Short Sale Sellers to send me the Release of Mortgage notice once they received it from their lender after the short sale was completed.

I’m just getting started on my quest but have received several “Release of Mortgage” notices thus far. As I was reading through them I noticed 2 things that were the same even though the Lenders were completely different.

First they all state “…..acknowledge that it has received full payment and satisfaction, and in consideration thereof, does hereby cancel and discharge said Mortgage”.

And secondly the “Original Mortgagee” as stated in all of the releases thus far is……..“Mortgage Electronic Registration Services, Inc.” or MERS.

So whether the lender/servicer was Bank of America, Wells Fargo or Chase (the 3 notices I have received)  the “Original Mortgagee is MERS.

MERS, from what I understand, steps between the original Lender and the servicer. It acts as the nominee for the Lender and the servicer. Nominee: A person or organization in whose name a security is registered though true ownership is held by another party.

So when MERS is involved we have no clue who the true owner of the mortgage is. I wonder how this will affect Lenders going after a Deficiency Judgment in the future?

MERS is a privately owned company with some pretty serious players as shareholders.

Their mission is to…“Register every mortgage loan in the United States into the MERS System“.

OK so what am I missing here? Does this company have way too much control or are they truly nothing more than a registration company? Help me out here. What say you?

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

 

The BIO for Bryant Tutas

Copyright © 2009 http://www.brokerbryant.com/ | All Rights Reserved

 

About us

I am a licensed real estate Broker in the state of Florida. My opinions on real estate have been formed from my experiences and 15 years of working in the business. My opinions are in line with Florida Real Estate laws and the REALTOR(R) Code of Ethics. Your State’s laws may differ. So do your own homework before implementing any of my business practices into your business.