You Just Bought And Now May Have To Sell. What Do You Do?

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

Florida real estate broker 407-873-2747Hi folks, These are desperate times we are in. Some folks can do everything right and still find themselves in a bind. All we can do is give honest advice and let them make the decisions they need to make.

THE SITUATION

I am scared about refinancing now that the market is even worse.  I wonder if I should hold on to the money I was putting down on the house?

Things have changed and my parents are now talking about moving out of Florida.

If I listed this house for $129,000 fully furnished with all the new appliances, new furniture and shed do you think I could sell it? Buyer pays closing costs?

That would give me back the house money, the money for the fence and pay the furniture and appliance bills.  Do you think it would come close? With the landscaping (which you haven’t seen) and fence and all?

You’re listing homes for $90k and that makes me so scared. If I don’t have a job next year I am in trouble.  I also want to get out of this area.  I would have all year to try to sell it, not a rushed deal. However, I feel like if I don’t try to sell it now it will be worth $69k in 6 months.

 MY RESPONSE

Right now cash is king. If I had the money from the sale of your other home I’d place it in a savings account for the time being. Property values in Poinciana are certainly still declining and much more rapidly that I could have imagined 3 months ago. Most of this decline is due to banks reducing the price of their REOS (foreclosures) to get them off the books by the end of the year. This has caused values to drop an incredible 18% in the 34759 zip code since September.

Homes similar to yours are selling for $48 per sq ft right now. If we just used this figure it would make your property worth 2094 X 48=$100,500. There are currently 15 similar homes on the market priced at $100,000 or less. You paid $120,000 in September which at the time was the best priced home of this style on the market. To sell now will cost you money as it may take as low as $100,000 to get it done. Which is right in line with an 18% decline in property values.

You may be able to refinance at a lower rate that would make it feasible to rent out but I would NOT put any of my cash into the house unless you are certain you will be keeping the house for the next 5 years or more. If, as you fear, you are going to have to move because of your job situation you are better off using your cash to get settled elsewhere.

We can certainly try to sell. Even if you had to bring some money to closing you may be better off trying to sell now than having to sell 6 months from now. Bringing $15,000 to $20,000 to closing is much better than putting $40,000 into the property to lower your payment.   Or…..you can stay put. Get a room mate and save their rent money. END

WHAT WOULD YOU DO?

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

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TLW UPDATE!!

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

AR NAR Gathering Orlando November 2008

Hi folks, OK so instead of going around to the almost FIFTY posts that have been written to/for/about TLW and leaving an update I thought it best to just do it here. Here goes:

3-18-09 @ 6:50 AM

Good morning every one. First thank you so much for this out pouring of support, prayers and love.

I’m typing this from the surgical waiting room. They took TLW in at 7am. This morning’s surgery is exploratory according to the surgeon. We are expecting a more major surgery to be later this week…..maybe even tomorrow.

Unfortunately TLW has a lot of issues going on with her vascular system and this surgeon wants to repair as much as he can.

She has an awesome team of five surgeons right now so we are very confident in their abilities. The biggest immediate issue is getting the femoral graph replaced and covered with some new skin. As it stands now it is exposed. That is very very dangerous.

I’m at the HoJo’s in Tampa and will be until this is all over and I can bring TLW home. It could be a week or it could be a month. We’ll certainly know much more as soon as I speak to her surgeon this morning.

As always we both prefer donations to worldvision.com in lieu of flowers.

Cards can be sent to:

PO BOX 969
Dundee, FL 33838

3-18-09 @ 8:10 AM

TLW just got out for surgery.

They are scheduling her for more surgery sometime between now and Monday.

They are going in to harvest a vein in her leg to replace the graph that was put in. Looks like about 2-3 more weeks in the hospital but her prognosis is very good.

OK that’s it for now. THANK YOU!!!!! 

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

Yes….I can be an arrogant SOB…. But not when I’m working.

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

Call me cocky!! 407-873-2747Hi folks. I have on occasion been accused of being “cocky” or “arrogant” when it comes to my selling style. Of course the reality is….it’s just confidence. I have an over abundance of it.

When meeting with a potential buyer/seller my technique is to educate them. I’m not selling at all. I’m teaching  them and giving them the information they need to make an informed decision. By doing this I’m building trust.

If you are having a difficult time “selling” folks it’s because you are asking for the business prior to building trust. Building trust is the main ingredient to any sales job. And trust is built by really being knowledgeable about what you do and  having the ability to present that knowledge to your potential customer/client  in a confident manner. Confidence is contagious.Your confident manner will give them confidence in you.

And listen to them. I mean really listen. Get off the stage and place your client up there. Let them tell you what they are trying to achieve and then show them how you are going to help them achieve it.

Our job is NOT about selling it’s about building relationships and solving problems. If you are trying to sell people you are missing the boat. I’m a trusted adviser, a negotiator, a friend, a calming force and a problem solver. Forget about the sale. Forget about the commission and concentrate on the people sitting in front of you.

Am I really arrogant?

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

Broker Bryant is Full of Hot Air!!!

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

Broker Bryant is full of hot airHi folks.  The topic of this post is comments. Not how to make them or when to respond to them but how much value they can add to a post if you give them time to germinate.

When I write a post one of my goals is to create a discussion. I do this by asking questions, writing about a topic but leaving out information or by writing about something controversial. The reason I do this is because I want to learn. The discussions that take place in the comments help me do this. The comments give me a different way of looking at things or maybe I get some additional information that I didn’t know or hadn’t thought of.

Sometimes, my entire way of looking at a topic may change. I may have just been dead wrong in my thinking and some one was able to correct me. Either way it stimulates my thought process. And that’s my main objective for writing.

So folks, what I want to do today is share some links to a few of my older posts. The posts that I have chosen are posts that generated tremendous discussion or had people commenting that were very aggressive and I was able to turn them around. And a few where we just had to agree to disagree and move forward.

My point in sharing these past posts is to show you how a comment thread can evolve from being very negative or aggressive to ending in a very positive manner.

If you receive a comment you don’t like or you feel is an attack don’t be so quick to delete it. Think about it. Then try to change that person’s way of thinking. Debate the topic. Try your best to turn them around. Who knows……you may be the one that’s wrong or maybe you’ll learn something.

If you have a strong opinion on something you should be able to defend it. If all you want is for people to agree with you then you are missing out on a great opportunity to grow. Remember opinions are NEVER right or wrong. They are just opinions.

So, if you want to see how commenting can expand your knowledge, then take some time and read through these posts. It won’t be easy. Some of these have many, many comments and each comment could be a post of it’s own. Also, the comments are much better than the posts. The posts were just a starting point.

You’ll read heated battles, total disagreements, anonymous posters, consumers weighing in and several other surprises. Who knows maybe you’ll learn something. OK so here goes. I hope you enjoy the read. Might take a week to get through it all but it will be worth it I promise. Then come back and let me know what you think.

  • Let the Games Begin! This was a very strong debate between several members with me basically moderating the battle.
  • So, what do you do to justify your high commission? Folks, if you don’t read any of the others, you need to read this one. This post is an AR classic on how to debate a topic. To get the full affect of how this came about you have to visit the first link in the post that will take you over to the bloodhound blog. I was very, very proud of the members of ActiveRain this day. To me this comment thread epitomizes what blogging is all about.
  • Compensation or Performance? Which one will it be? Another great comment thread. REALTORS®, the consumer and an Attorney debate this topic. You have to get about half way down to when Mark Nadel, the person who wrote a 75 page white paper study on this topic, chimed in.

OK that’s it. I hope that in some small way this post will help you. As always, I appreciate each and every one of you that take the time to read what I write. Don’t ever feel you have to agree with me. I’m a big boy and I can take it. I want to know your opinions and thoughts. So let me have them!

***Graphic compliments of Jay Merton. I call it “Me and my big head” Others may call it “Broker Bryant is full of hot air”. But hey, that’s their opinion and they are entitled to it.

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

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

***The content of this blog is solely my opinion***

 

Disney Area Holiday Home…..$120,000!!

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

Folks if you are looking for a turn key holiday home then this could be the one.  Diamond bright surface in the pool. Privacy fenced yard. Home is right across the street from the community park. Great holiday home. Original owner. Very well maintained. Can be sold completely furnished and set up ready for rentals. No lawn as it has been replaced with rocks. Gas heat and water Close to HWY 192 and all the attractions. Established neighborhood. Mortgage qualification and/or proof of funds required prior to presenting the offer to the seller. This is not a foreclosure or short sale. Just a great property priced right

Florida Property search

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

Another Kissimmee Florida Short Sale Approval

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

 

It only took 7 months BUT we have another Bank Of America Short Sale Approval.

Location:

  • Kissimmee Florida.

Details:

  • Went pending on April 17th at $79,000 all cash Buyer.

Mortgages:

  • $188,000 owed on the 1st Mortgage with Bank of America.
  • $25,000 owed on the 2nd with Real Time Solutions.

Challenges:

  • Keeping the Buyer on board for almost 7 months.
  • The 2nd started out with Bank of America and was sold to Real Time Solutions about 5 months into the transaction.
  • The Seller is an investor than owns multiple properties.

Outcome:

  • Bank of America netted $69,000 (37% of what was owed).
  • The 2nd received $3,000
  • Only $500 cash contribution required from the Seller.
  • NO note
  • Happy Seller. Happy Buyer, Happy Agents

 

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

Want to find out more? www.CentralFloridaShortSales.com

 

Florida Property search

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

 

If it sounds too good to be true……..

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

Hi folks. Did you know, when I wake up in the morning the first thing that comes into my head is, “What can I Blog about today?” Then the phone rings and my question is answered…..

Good morning, Tutas Towne Realty, this is the incredibly good looking and intelligent Broker Bryant speaking, how may I help your dreams come true today?

“Hi Broker Bryant, this is your Seller over at 4321 Desperation Ave. I’m calling to let you know I have found a Buyer for my house. My neighbor, who has lots of money, wants to buy my house. I know he has lots of money and can pay cash for it, if he wants. I told him I would only take full price ($259,000) for it but at that price I would leave the appliances. He said something about putting 5% down and me giving him back a check for $15,000 at closing and he wants me to pay all his closing costs. Did I mention he has lots of money?”

“OK, OK, Mr. Overwhelmed, the first thing we need to do is have him call me. I need to talk to him about his qualifications and make sure he is in a position to even purchase your home. Then we can get his offer in writing so we can sit down together and go over your options. By the way, you can’t just give him money back a closing, that could be mortgage fraud and we can’t do that. But we will worry about that after I get a written offer from him. OK?”

“OK, but I know he has lots of money. I told him I was in foreclosure and he said he could help me out. He really likes the house, since it is the best house in Poinciana, and he has lots of money.”

Anyway, I received a call about an hour later from a REALTOR®, all excited, wanting to submit an offer on this listing. She asked me the price and I told her it was $259,000. “Broker Bryant my Buyer would like to offer $225,000 and wants the Seller to pay $14,000 in closing costs. He will be getting 100% financing. Do you think we have a deal? He said he has already talked about this with the Seller.”

Now folks, does this offer sound anything like what the Seller had mentioned to me earlier? Of course not. They never do. Desperate Sellers hear what they want to hear and say things they shouldn’t say and Buyers will and do try to take advantage of the situation. Why would you tell a potential Buyer you are in foreclosure?

This is one of the most important reasons to hire a REALTOR®. We are not emotionally involved in the deal. We are a calming force and we are trained to weed out unqualified and unrealistic Buyers. Without a REALTOR® looking out for him, who knows what kind of a deal this Seller would agree to? You can be sure it would have cost him a lot more money than what he is paying me. This assumes he wouldn’t have wasted months and months of market time, while the neighbor, with lots of money, tries to sort out 100% financing on a second home.

Hiring a professional REALTOR® who has experience and market knowledge in your area, is the best investment you can make. So before hiring a REALTOR® to sell your house ask these questions.

  1. How many properties do you personally have listed on the market in my area, today?
  2. How many closed transactions did you have in my area last year?
  3. How many pending transactions do you have in my area, today?

There are many more questions you need to ask before hiring a REALTOR® but, in my opinion, you need to have the right answers to these three, first. And make them show you their sales record from the MLS.

By the way, I never did hear back from the Buyer or his REALTOR®. I guess I need to call Mr. Overwhelmed back and let him know the neighbor has no money. Better yet, I will send him a link to this post.

I wonder who will call me tomorrow morning?

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 © 2010 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.