Average time a Foreclosure takes in Florida:  600+ days!  That's a snails pace!

Proposal SB 1890 is one step closer to becoming law in Florida.  And it's a good thing in my opinion.

Two Major Changes this Bill aims to Change:

  1. Speed up Foreclosures:  Any lien holder, 1st mortgage, 2nd, HELOC, etc., could file for a "hastened" foreclosure in cases where the home is abandoned or the mortgage is delinquent.  In these cases a judge can side with the lien holder and file an immediate final judgement notice, which gives only days before a house is taken back by the bank.  This has the ability to go retroactive to ALL home owners currently in foreclosure in Florida.  Some 368,000 home owners. 
  2. Reduced time limit for Deficiency Judgements:  The bill…

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I constantly scan the market in the hottest areas of town and hottest private communities in Jacksonville and Ponte Vedra.  I'm looking for the best deals and the best houses.  It's an easy process.  Either the home is attractive inside and out and it's priced well enough that I want to see it.....or it's not. I believe home buyers do the same search.

One thing I dislike seeing in this buyer's market:  Overpriced Short Sales!

There is only 1 thing worse than seeing an overpriced short sale:  A bank owned home that was a short sale listing!

Truth be told, I've had my close calls with banks either purposely or accidentally attempting to foreclose on a home while we are trying to get a short sale contract approved.  Occasionally, I've sold the same…

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I constantly scan the market in the hottest areas of town and hottest private communities in Jacksonville and Ponte Vedra.  I'm looking for the best deals and the best houses.  It's an easy process.  Either the home is attractive inside and out and it's priced well enough that I want to see it.....or it's not. I believe home buyers do the same search.

One thing I dislike seeing in this buyer's market:  Overpriced Short Sales!

There is only 1 thing worse than seeing an overpriced short sale:  A bank owned home that was a short sale listing!

Truth be told, I've had my close calls with banks either purposely or accidentally attempting to foreclose on a home while we are trying to get a short sale contract approved.  Occasionally, I've sold the same…

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To Forclose or to Short Sale?

Everyone comes out ahead in a Short Sale!


Sellers:  Avoid the F word.....Foreclosure!  Sellers get a respectable way out of a home they can no longer afford or a home they are being relocated from and can't afford to rent it out. Don't be an upside down, reluctant landlord who is subsidizing the rent to make up enough for the mortgage payment....that's an inevitable train wreck happening sooner than later! 

Buyers:  Get a home in much better condition.  It's a known fact that bank owned, Foreclosed homes have usually been sitting with NO AC for months and sometimes years.  The yard is a mess, the bug situation is a mess, and the homes are a breeding ground for the big M word....MOLD.  Short sale homes are lived in…

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TOP Question of the week.....asked by no less than 6 people this week: 

How soon can I buy a home after I short sale this home?

First off, it's worth noting that buying a home after a short sale is much easier and sooner than after a foreclosure.  I beg home owners to not "walk away" as it is truly a major hit to your ability to secure financing for a home purchase in the many years to come. 

Buying a home after Short Sale:

FHA underwriting guidelines, that are always changing, currently state that a home owner can receive financing 3 years after they sold their home in a short sale.  Although, that time penalty CAN be waived in certain cases, including long term job loss/loss of income. 

Another possibility, slim as it may be, there is NO…

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The Waterfront Home in Jacksonville Everyone Wants:

  1. Good Location:  Ponte Vedra, Atlantic Beach, San Marco, Mandarin, or Ortega. 
  2. Family Sized:  3000-4000 Square feet.
  3. House:  4 bedrooms, 3 baths newer home built within last 10 years OR a home that has been completely gutted and updated to today's standards
  4. Pool with hot tub
  5. 3 car garage minimum, 4th bay would be a bonus
  6. Condition:  Near perfect or needs some TLC (nothing more than paint, carpet, new appliances, and some granite)
  7. Dock:  Deep water with a lift, and not in need of repair
  8. Price:  Under $500,000

NEWS FLASH:  Not happening.  You can find similar houses, sometimes within those areas of town for those prices, however they aren't on the water. 

Are there…

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A NO Nonsense Guide to Get Top Dollar!

  1. Hire Top Tier Talent:  A professional Realtor, meet Brad Officer Jacksonville REALTOR, will be honest with you about the market, the price of your home, and the condition.  They will also market your home better than 99% of the other Realtors out there.  Think I'm wrong:  Check out the horrible pictures of great homes that are for sale on Realtor.com.  How do home sellers not fire their agent immediately?
  2. Curb Appeal:  Pressure wash everything, new mulch, water the lawn religiously, trim hedges and bushes, plant flowers, paint mailbox, fertilize everything.  Keep on it until day of closing.
  3. Interior:  Declutter everything, remove your family photo wall, toss old outdated furniture, paint all base boards,…

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How to Short Sale?

  1. Contact a Short Sale REALTOR.  A good, professional REALTOR who has been doing short sales for a few years can quickly help you determine your short saleability.  CAUTION: Most agents have done very few short sales and most did not want to do short sales until it became half the real estate market, therefore make sure you are working with an actual short sale specialists.  Meet Brad.
  2. Consult with a Short Sale Attorney.  Short Sales are a legal process, they are not a Real Estate Marketing and Sales process.  I get paid to market and sell your property.  It's what I'm trained to do, it's what I'm exceptionally good at, and it's what all REALTORS should be doing.  We are not attorneys, however a short sale is a very legal process…

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Job Relocation Short Sale with Suntrust

The banks are starting to get more realistic on the housing market and short sales.  People move for a variety of reasons but it's almost always due to a life change: Job relo, marriage, divorce, growing family, empty nesters, loss of income, gain in income, etc.

None of these life changes are going to stop happening in ANY economy....good, bad, or neutral.

Unfortunately, for too long the banks have been unrealistic about allowing short sales on some of these life changes, but those times have changed.  A job relocation is not something that should ever keep you from moving up and out if need be.  If you can keep your old house, keep it and rent it.  If you don't have the ability to handle the financial…

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Another Wells Fargo Short Sale completed in Jacksonville!

Condos have seen the worst of the loss in value.  That's my opinion, and not statistically researched yet.  I rarely am involved in a short sale of a condo that has anything more than 50% current market value vs. amount mortgaged.  This particular condo short sale was no different.

The condo market is HOT!  I can't seem to list a condo anywhere near the beach or the Gate Parkway area without it selling in under 30 days.  The investors are buying them up as fast as they can see them, and I've even had several offers "sight unseen".

Most investor condo buyers are all cash.  That being said, most of the condo communities are now "cash only" purchases as the conventional and government backed…

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