Poinciana Florida Real Estate Market Report. YIKES!!

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

Call me 407-873-2747

OK it’s time to rumble!!! I didn’t do a Poinciana market report for May, so instead of going backwards, this month, I decided to do a report for the first 6 months of 2008 compared to the same period last year. First let’s start with a little chart then I’ll add my commentary. 

This data was pulled from the Mid-Florida Regional Multiple Listing Service and is deemed to be reliable. I’m using the data for zip codes 34758 and 34759, Poinciana Neighborhoods. It does not include Solivita, Cypress Woods, Crescent Lakes or Lake Marion. Jan 1-June 30. 



Of Sales


And SSs



Price Per

Sq Ft













$ 74.25




+ 88%

– 34%

– 38%


So what does this all mean? Well, the first thing, that stuck out like a sore thumb, is that 70% of the sales this year were either REOs(bank owned) or short sale (SSs) properties. Compared with only 7% for last year. Now the 7% figure may be a little low since our MLS did not have a field to reflect short sales last year. So lets just double it for the sake of this post. The fact remains that the REOs and SSs are WAY up and are now making up the bulk of the real estate market in Poinciana Fl. 

Now according to this chart prices are only down 34% BUT let’s adjust that one too. In January of 2007 the average sales price was $221,968. In June of this year it was $123,720. That means that in the last 18 months values have plummeted 45%!! That sounds about right. 

At the peak of the market, late 2006, properties were selling on average for $130 per sq ft. Now they are at $67 for a decline of 48%. I was a little surprised by this as I actually thought we were down about 55%. But hey, in this case, I’m glad I was wrong. 

Inventory has been about the same all year. There were 50 sales in May and 49 in June so sales are up about 20% for the last couple of months. 



Here’s the lowest recent sale. A 2078 sq ft home with a pool built in 1983 sold on May 16th for……..$83,800. It was a REO.




Here’s a 2818 sq ft home built in 2006 that sold May 23rd for $136,500. This was also a REO and was purchased new in 2006 for $256,400.


Send $$$$$$


How about a 3008 sq ft home built in 2005 that just sold May 23rd for $150,000? That’s $48 per sq ft if you are counting.


My opinion, for the future, is that we still have a ways to go until things start leveling out a little. Price per sq ft is going to have to hit $55, maybe even $50. Out of the last 100 sales, 17 were at less than $55 per sq ft. YIKES!! 

So there you have it, Broker Bryant’s Poinciana Market Report. Any questions? 


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

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

Short sales. It’s not only up to the Lender.

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


The following is the reblogged post from Bryant Tutas Broker/REALTOR(R) Tutas Towne Realty, Inc:

This is the third part of my series on short sales. As way of disclosure, I am NOT an expert on short sales, I am using this series as a way for me to think through the process and hopefully become better prepared to help some Sellers who may qualify for a short sale.

A short sale can be a very complicated transaction. Not only are we negotiating with the Lender but there is another entity who may be involved as well….the Private Mortgage Insurance (PMI) Company. Most Buyers, that did not put at least 20% down when they purchased their property, were required to purchase PMI for the benefit of the Lender.

PMI protects the Lender for loses usually up to 20% of the loan amount. So, they have a say so in whether or not a short sale is accepted.

I am in the process of negotiating a short sale right now where I am actually negotiating with the PMI Company instead of the Lender. This is a first for me but so far it seems to be going well. The lady I am dealing with has been very helpful and she is the one that is handling the negotiations with the Lender. Have you ever done this before?

I'm very anxious to see how this plays out. Brian Brady wrote a very good post about this a few months ago titled "A Realtor's guide to PMI and Short Sales". Give it quick read.

Anyway, the point of this post is to make you aware of the fact that a short sale is a lot more complicated than just getting the Lender to agree to a price. The Lender is looking at the bottom line. If the short sale does not NET them more than a foreclosure then it ain't happening.

When meeting with potential Sellers you need to find out if they have PMI. If they do, then do the math. Brian is better at that than I am so if you haven't already….go read his post.

OK that's it for today. These are my thoughts. What are yours?

Other posts in the series:

A "short sale" is an option NOT an entitlement!

Becoming a better "short sale" expert. A series by Broker Bryant.

Copyright © 2007 Broker Bryant Real Estate Ramblings | All Rights Reserved

Does that 50 cents have to be on the HUD?

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

*** First published in August 2006***

I just love final walk throughs! Why is it that Buyers and their Realtors sometimes try to spoil the elated feeling I get, knowing that we finally made it to day of closing?

I get the call this morning, telling me they did the walk through and everything is OK, except for the hole in the living room wall. What? A hole? How can that be? I was just in the house last week and it was fine. No holes! I don’t want to hear about holes two hours before closing. I mean the house is vacant. No one has been in the house but the appraiser. Then they spring the big one on me. “What’s the Seller going to do about it?”

Personally, I think that’s a pretty good question. “What’s the Seller going to do about it?” Well, my answer is “I don’t know”. I am still trying to digest the fact that there is hole in the living room wall. Well I got lucky, the other Realtor had a call beeping in on him and decided to take it and call me back.

So, I get myself out of bed (not sleeping mind you, but diligently “working” on reading all the ActiveRain posts from last night), anyway, I get myself out of bed, hop in my SUV and burn $10.00 worth of gas to go check out the hole in the living room wall. Now I’m a pretty observant guy and would probably notice a hole in the living room wall, but I don’t. No hole. Well, maybe they meant the family room. So I go look and again, no hole. Wait a minute, what’s that? Let me see, if I get down on my knees and squint just right I can see a tiny indentation in the wall about the size of my pinky fingernail. This my friends must be the culprit. The all elusive hole!

I call the Realtor back and tell him I have been at the house to look at the “hole” and asked him if he had actually seen it, or did he just allow the Buyers to go over by themselves to do the walk through? Do I need to even tell you his response? Of course he hadn’t seen it! It was too far for him drive to so he just gave the buyers the code so they could do their own walk through! The Buyers told him there was a hole in the wall, and asked, “What was the Seller going to do about it”. Anyway, I remained calm and politely told him to show the Buyers the definition of “hole” in the dictionary and that we would give them compensation of 50 cents. After all that, the Realtor told me to not worry about it, that he would take care of the Buyers.

I tell you, you got to love this business. The things people try to get away with. And the Realtor……….well that’s good material for another post.

The Moral is: Never, ever, take the other party’s, to a transaction, word on anything. Check, double check and check again. Look out for your own customer’s or client’s interest or that “hole” may be in your wallet.

By the way………..Does that 50 cents have to be on the HUD?

Calling Seth Godin!!!

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

www.homerome.comHi folks. My good friend and fellow ActiveRainer, Margaret Rome, is getting close to launching her first book “Real Estate the Right Rome Way”. I’m sure most of you know Margaret but if not….stop over and check out her profile.

Margaret and I joined AR at just about the same time, July of 2006. In fact, as far as I can, tell we actually joined on the same day. Her first post and my first post were both on July 8, 2006.

Margaret and I have always had a connection. We are very much alike and handle our businesses the same. I still believe we were separated at birth. Here are a few similarities.

  1. We are both “solo” agents
  2. We both specialize in listings
  3. I have a TLW she has a TLH.
  4. We both have tempurpedic craftmatic adjustable beds!!!
  5. We are both soooooooo good looking.  

Anyway….Margaret is really wanting to get Seth Godin to review her book and maybe writReal Estate the Rome Waye a blurb on the jacket. So she decided to have a little contest to see who could come up with a good idea to get Seth’s attention. My idea was to get as many Rainers as possible to place this phrase in their next post:  

Hey Seth Godin!!!! Come over and review Margaret Rome’s new book”

I figure Seth has his Google alerts activated and if enough of us do this he will not be able to ignore us and will have to come over to see what’s going on. If you are not familiar with Seth he is a master marketeer and a best selling author. Getting him to review Margaret’s book would be HUGE!! 

So…..if you would, next post you write, just take a minute and copy/paste this phrase….

Hey Seth Godin!!!! Come over and review Margaret Rome’s new book”

…..and place it at the bottom of your post. Or the top. Or the middle. Let’s show Seth the power of the Rain. How simple is that?

Central Florida Short Sales FAQ #1

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

What is a Short Sale?

Central Florida Real Estate Broker 407-873-2747A Short Sale is when you need to sell your property but the amount owed exceeds the value of the property AND you are asking the lien holder (lender) to accept less to remove the lien. You are asking your lender to accept a “short” payoff so you can sell and they can avoid the expense of a foreclosure. 

For example: You bought your house in 2005 and paid $250,000 for it. You mortgaged $230,000. You can no longer afford to keep the house because of a legitimate hardship. You MUST sale or you will be foreclosed on. 

The property is now only worth $200,000 (Market Value). Fortunately, you have a qualified Buyer willing to pay Market Value. After the expenses involved with selling the property there will only be $180,000 left over to pay the lender. 

So you either have to bring $50,000 to closing OR ask the lender to accept a “short” of $50,000 ($230,000-$180,000=$50,000). If the lender agrees you have just completed a Short Sale. 

****Next time we will discuss “hardship”. 

In the meantime, if you have a property that needs to be sold as a Short Sale just CLICK HERE. I’ll send a Short Sale Listing Package right over.






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

If you can’t do the time………

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

Need a broker? 407-873-2747Hi folks. What better time, than the end of another year, to discuss………

Time management. This is a very important part of being a successful REALTOR(r). Or, in being successful at anything, for that matter. We all have 24 hours a day. That’s it, 24 hours. 24 hours to do business, spend time with our families, exercise, relax, eat and sleep. Now for me, I like to spend most of this time on the last two, eating and sleeping. Well, not really, even though I do love to eat and I cherish my down time, whether it’s spent relaxing, reading, blogging on AR, playing with “The Lovely Wife” or sleeping. So how do I manage “down time” while still handling my business. Especially since I’m a solo agent.

First, I am very organized. I wake up every day knowing exactly what I have to do that day and exactly how much time it will take to accomplish these things. I don’t like surprises. I try not to change my schedule unless absolutely necessary. And most importantly, if it’s on today’s list, then it gets done today. I don’t roll things over to the next day. At the end of the day, I start a new list, for the following day. All of this is kept on a legal pad that goes with me everywhere. It has my appointments for the day, phone calls that need to be made, signs that need to be delivered, task to do and so forth.

Here’s a list of a few other things that help me, with saving time. Hopefully, these will help you in your business.

  • One appointment listings. Do a short seller prequalification, on the phone, prior to your appointment and go over prepared, loaded with info and ready to list and put your sign in the yard. Before you leave, take all photos, measurements and give the Sellers their copies of the paperwork. In and out in 90 minutes. On to the next one.
  • Answer the phone. This is a major time saver. No calls to return. Answer the phone and you’re done.
  • Respond to E-mails as you read them. Read it, reply, you’re done.
  • Call your Sellers regularly. This way they don’t call you when you are busy. I do this while driving to and from appointments.
  • After a closing, close the file. I add the Buyers to my data base, send out thank you cards, go to quantum mail.com and send out my just sold mailers, order the Lowe’s Rewards for the Buyer, send over the press release for the newspaper and deposit my check. Same day as closing, the file is in archives. Next!
  • Advertsing is ordered for the year in January. The only thing left to do is pay the bills.
  • Group appointments and errands together. If you have to leave the office make it worth your while.
  • If you have to call a customer/client with negative news. Do it immediately. Don’t worry about it. Don’t stress over it. Don’t try to figure out how to break the news. Your customers are adults, pick up the phone and make the call. Get it off your plate and together you and your customer can work on a solution. A stressed out agent is no good to anyone.
  • And my favorite all time, time saver. Don’t take an overpriced listing or work with an unqualified and unmotivated Buyer. The ultimate time waster and stress maker.

That’s it. Broker Bryant’s crash course on time management. I’m a small time Broker (by choice) but by utilizing these time saving techniques, I am able to limit my work to about 5 to 6 hours a day and still make a very good living, working by myself and from my home. So I know it can be done.

So, get a grip on your time, enjoy your business and enjoy your life. And please don’t call me after 8pm……. because I will be playing with “The Lovely Wife” and the phone will be cut off.  

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

2008 Market Report for Poinciana Florida.

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

Florida Real Estate Broker 407-873-2747

OK folks, here’s my year end market report for 2008. You read the papers and you watch the news. You hear all of the predictions and how bad things are. It’s very depressing!!! BUT….Real Estate is very very local. This report is very specific to Poinciana Florida. It has nothing to do with real estate in other areas. Some areas are better and some areas are….well….let’s just say some areas are better. If there are any that are worse please let me know. OK here goes………..
















































































DOWN 41%





DOWN 40%




DOWN 63%




 Commentary from Bryant Tutas
Tutas Towne Realty, Inc

I broke this analysis down to month by month in order to give you a true picture of what is going on in Poinciana Fl. Yearly averages will not work in a declining market. As you can see, the market in Poinciana is in dire straights. Properties ARE selling. In fact sales are increasing but…… 

There were 672 sales in 2008 compared with 420 in 2007. That’s an increase of 38%. However, 519 of these closings, for 2008, were distressed sales(either bank owned REOs or short sales). That’s 77%!!! 

There are currently 1,051 active listings (single family homes) in the Poinciana neighborhoods. This time last year there were 1,065. Not much movement there. 

The last 4 months we have averaged 87 closings. Using that figure there is currently 12.5 months of inventory on the market. That’s pretty good since last year this time there were 25 months of inventory. Prices are low enough that properties ARE selling. 

I find it incredible that the median price for homes sold in January of 2007 was $225,000 and 24 months later it’s $82,900. That just boggles my mind. What’s even worse is that the median price for houses that are under contract (pending) is $79,900. That means that prices are still declining. 

What can you buy in Poinciana Florida for $79,900 today?

 Cheap florida foreclosures 407-873-2747


How about this 2113 sq ft banked owned property with 4 bedrooms and 2.5 baths built in 2006?


Cheap florida foreclosure 407-873-2747


Or this 2093 sq ft REO with 4 bedrooms and 2 baths built in 2003?



If these won’t work there are 308 more properties for less than $80,000. 

Folks, this about sums it up. 2009 is going to be quite the ride. Foreclosures are going to increase and values are going to continue to decline. Unless you absolutely need to sell you property DON”T!!! If you must sell….call me. 

If you are a buyer, you need to be buying. Prices are awesome and rates are low. If you are waiting on the bottom you may very well miss it. The only way we will know we have hit bottom is when it is in our rear view mirror. 

So there you have it…. Broker Bryant’s year end market report for Poinciana Florida. I showed you mine will you show me yours? 






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

Good news for Poinciana Real Estate. Or is it?

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

Sold!!! 407-873-2747What’s going on in Poinciana Real Estate?

Inventory is way down. For the first time in about 2 years we have less than 1,000 properties on the market in the Poinciana Neighborhood. We broke the 1,000 barrier about 2 weeks ago. Today there are 932 properties for sale. This is down from 1,100 to 1,200 that we have been averaging for about the last year. 

Closings are way up. February of 2008 we had 21 closings. This February there were 109!! That’s an increase of 500%. 

BUT……values are still declining. The median sales price in December 2008 was $82,000. For February 2009 it is $67,000. That’s almost a 20% decline in values in the last 60 days!!! 

So what gives? Here’s my opinion. 

  • The properties that are selling are REOs (foreclosures) and short sales. In fact more than 85% of the closings are distressed properties.
  • Sales have increased drastically because the prices are so low.
  • Inventory is declining due to all the moratoriums that have been placed on foreclosures.

Banks are NOT foreclosing right now. Which is a good thing because I deal in Short Sales. I listed five in the last week and Buyers are knocking the doors down to see them. Less REOs is a very good thing for me and my Sellers.


I hired a new agent yesterday. I gave her five Buyers right away with four that are coming into town over the next 2 weeks to buy. All are Europeans and all have cash. 

I still have 185 Buyers I need to find agents for. We have more Buyers coming in everyday. I just opened a new website to try and accomodate them all.  So if you want to make money AND you don’t mind working……give me a call. I need agents for Buyers looking in Kissimmee, Davenport, Poinciana, St Cloud and S. Orlando. I’m hiring not referring. 

OK that’s what’s on my mind today. What’s on yours? 



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

Negotiating Multiple Offers. A Tutorial.

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

call Me 407-873-2747Hi Folks, If your market is saturated with REOs, as mine is, you may be incountering multiple offers quite frequently. This article, I wrote a couple of years ago. may help you deal with them.

Negotiating multiple offers. 

I don’t know about you but I love things in multiple. Multiple zeros on my bank balance, multiple listings, multiple closings and of course, multiple offers. Multiple offers, are one of my favorite things. It really places my Seller in the driver’s seat when it comes to negotiating and normally means we will be able to get a higher price for the house.

What I don’t like, is a common misconception, from Realtors, that I have to disclose multiple offers to them. Or, that I have to disclose the existence of any offers to them, whether received or not. Sometimes they expect this before they even show the property. I have even been accused of being “unethical” for not disclosing an offer. So first, let me make something perfectly clear, offers, whether one, or multiple, are nobody’s business but my Seller’s and mine. How we choose to handle the negotiations or disclosure is 100% my Seller’s choice.

Standard of Practice 1-15 

  • REALTORS®, in response to inquiries from buyers or cooperating brokers shall, with the sellers’ approval, disclose the existence of offers on the property. Where disclosure is authorized, REALTORS® shall also disclose whether offers were obtained by the listing licensee, another licensee in the listing firm, or by a cooperating broker.(Adopted 1/03, Amended 1/06)) 

Standard of Practice 3-6 

  • REALTORS® shall disclose the existence of accepted offers, including offers with unresolved contingencies, to any broker seeking cooperation. (Adopted 5/86, Amended 1/04) 

Accepted offer, means, a pending contract. Florida law is quiet on this issue, as it should be. Negotiations are not dictated by State laws. And I’m sure you State’s laws are quiet on this as well.

So how do we handle multiple offers? Well, I am sure there are many ways, but here are a few examples of the way I do it and that seem to be quite common in my area. I will be curious to hear how they are handled in your area. 

  • Notify all Realtors/Buyers of multiple offers and request “highest and best” by a certain day and time. This technique is used quite a bit in my area, especially on bank owned properties. It is a pretty good way to weed out the lookers and concentrate on the serious buyers. Works best when you have numerous offers. Once they have submitted “highest and best”, the Seller can pick one that is acceptable, choose one or more to continue negotiating with or set another day and time and ask for “highest and best” again. Repeat until there is an acceptable offer. I’ve been the Buyer, on several foreclosures, where this technique was used and frankly, I ended up paying more than I wanted for the property. It turns into a competition and I hate losing. So this method definitely works.


  • Don’t disclose the existence of other offers, pick one and try to negotiate it. If you can’t, pick another one and do the same. The problem with this technique is it may take a few days to negotiate on one contract and while you are doing this the other one may withdraw their offer. Not one of my favorites but can work if you are already negotiating when the second offer comes in. 


  • Don’t disclose and negotiate all offers at the same time. I actually have done this many times. The key though is to make sure the Seller does not sign the counters. If they do, and the Buyer accepts it and signs, then you have an accepted offer and the game is over. This can be a good technique if all the offers are pretty close in price and all the Buyers are equally qualified. Then it is just a matter of who responds the fastest(motivation). You don’t disclose, because then they would all respond quickly. You want their motivation to be, that they are anxious to purchase, not that they are anxious to beat out the others. 


  • Disclose the existence of other offers and the amount of the offers. Play them against each other. Let them know they are competing and if you want this property you will have to beat the offer, or offers, I have on the table. Continue until only one is left. Hopefully it will be way over list price by this time. I used this technique during the boom time, so many times I can’t count them. Very successful way to negotiate. 

It is very important, that however you want to negotiate multiple offers, it is the Seller’s choice, not yours. Do not disclose multiple offers to another Realtor with out the permission of the Seller. After all, it is his deal not yours. So there you have it. I hope this helps. I am by no means an expert on this but I really do love multiple offers. 

So next time a Realtor ask you this, “Do you have any offers on this property” try this “I’m sorry, that’s confidential information but as we speak, this property is still actively on the market.” Does this help? 

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


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

Buying Florida Foreclosures—–BEWARE!!!

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

Hi folks,. I sell a lot of properties sight unseen over the Internet. Including this one. Of course it’s prudent to go have a look before the final paper work is signed. If not…..well……you may end up with this ‘”Needs  TLC” property.


Beautiful Foreclosure “For Sale”

Please cut my grass


Hard wood flooring throughout.

wood flooring

Very open and roomy kitchen.

Who stole my stuff?

His and Her “Spickets” in the master bath.

Hid and her spigots

Reinforced storm windows

Built to withstand hurricane winds

AC pad included at no extra charge.


So what do you think? Need TLC or total Rehab needed?





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.