Marthon Florida Real Estate

The oldest use of the term “Real Estate” that has been preserved in historical records was in 1666. In other words, real estate has been around for a very long time. However, it is not going away! It will be around until the end of time. What a comfort that is. With the slump that is happening, it is a reassurance to know that even if the economy gets bad, real estate is here to stay.

Real Estate is a legal term, according to Wikipedia, that encompasses land along with anything permanently affixed to the land, such as buildings, specifically property that is stationary, or fixed in location. The word “fixed” is the keyword here, meaning unmovable. Real Estate is here to stay!

Wikipedia also states that it has been argued that the word Real is derived from “royal”. For hundreds of years the Royal family and/or King owned the land, and the peasants paid rent or property taxes to be on the Royal’s land. Today, just like hundreds of years in the past, we pay property taxes, or rent to be on the government’s land or the Royal Estate. Isn’t it great to know that even though we do have to pay property taxes our homes are owned by us and not a king or government or royal family!

This article has been a little bit about the history of Real Estate, but thankfully there is a great future for real estate. Make your own future and invest in “Real” estate.

If you are looking for a home or selling real estate in the Marathon, Duck Key, Key Colony Beach Florida areas then we can help!

Is your dream home etched in your mind? Are you just waiting for the perfect time to bring it to reality? Now is the time! The market is slow at this time, which makes it a buyer’s market. With the interest rates low and many homes available, there is no better time than the present especially if you are looking for a home in the Marathon, Duck Key, Key Colony Beach Florida areas.

Make a list of what you want your dream home to look and feel like. Involve the whole family in this project. After all, you want them to be happy too. Once you have this list, you have the advantage to take your time and look for that perfect home for you and your family. Then, when you start looking, don’t veer from the list. In other words, make sure that the homes that you are looking at have every quality that you have listed. Don’t settle for second best.

Use your senses: once you walk into a home you can feel the personality of that home. Here are some thoughts that should be going through your head:

• Does it fit your personality?
• Does the neighborhood feel right?
• Can you see your family enjoying many, many years of happiness in this home?

Another great idea would be to let me help you find your dream home. I have been inside many homes in the Marathon, Duck Key, Key Colony Beach Florida area and will be able to help you narrow your search down until we find the perfect home for you and your family.

So head on over to my website at Myfloridakeysrealestate.com and let me help you find your “Dream Home”!

http://homebuying.about.com/od/4closureshortsales/a/shortsalebasics.htm

There are many ways to lose a home but signing away ownership in a manner that destroys credit, embarrasses the family and strips an owner of dignity is one of the hardest. For owners who can no longer afford to keep mortgage payments current, there are alternatives to bankruptcy or foreclosure proceedings. One of those options is called a “short sale.”
When lenders agree to do a short sale in real estate, it means the lender is accepting less than the total amount due. Not all lenders will accept short sales or discounted payoffs, especially if it would make more financial sense to foreclose; moreover, not all sellers nor all properties qualify for short sales.

If you are considering buying a short sale, there could be drawbacks. For your protection, I suggest that all borrowers:

Obtain legal advice from a competent real estate lawyer

Call an accountant to discuss short sale tax ramifications
As a real estate agent, I am not licensed as a lawyer nor a CPA and cannot advise on those consequences. Except for certain conditions pursuant to the Mortgage Forgiveness Debt Relief Act of 2007, be aware the I.R.S. could consider debt forgiveness as income, and there is no guarantee that a lender who accepts a short sale will not legally pursue a borrower for the difference between the amount owed and the amount paid. In some states, this amount is known as a deficiency. A lawyer can determine whether your loan qualifies for a deficiency judgment or claim.

Although all lenders have varying requirements and may demand that a borrower submit a wide array of documentation, the following steps will give you a pretty good idea of what to expect.

Call the Lender
You may need to make a half dozen phone calls before you find the person responsible for handling short sales. You do not want to talk to the “real estate short sale” or “work out” department, you want the supervisor’s name, the name of the individual capable of making a decision.

Submit Letter of Authorization
Lenders typically do not want to disclose any of your personal information without written authorization to do so. If you are working with a real estate agent, closing agent, title company or lawyer, you will receive better cooperation if you write a letter to the lender giving the lender permission to talk with those specific interested parties about your loan. The letter should include the following:

Property Address
Loan Reference Number
Your Name
The Date
Your Agent’s Name & Contact Information

Preliminary Net Sheet
This is an estimated closing statement that shows the sales price you expect to receive and all the costs of sale, unpaid loan balances, outstanding payments due and late fees, including real estate commissions, if any. Your closing agent or lawyer should be able to prepare this for you, if you do not know how to calculate any of these fees. If the bottom line shows cash to the seller, you will probably not need a short sale.

Hardship Letter
The sadder, the better. This statement of facts describes how you got into this financial bind and makes a plea to the lender to accept less than full payment. Lenders are not inhumane and can understand if you lost your job, were hospitalized or a truck ran over your entire family, but lenders are not particularly empathetic to situations involving dishonesty or criminal behavior.

Proof of Income and Assets
It is best to be truthful and honest about your financial situation and disclose assets. Lenders will want to know if you have savings accounts, money market accounts, stocks or bonds, negotiable instruments, cash or other real estate or anything of tangible value. Lenders are not in the charity business and often require assurance that the debtor cannot pay back any of the debt that it is forgiving.

Copies of Bank Statements
If your bank statements reflect unaccountable deposits, large cash withdrawals or an unusual number of checks, it’s probably a good idea to explain each of those line items to the lender. In addition, the lender might want you to account for each and every deposit so it can determine whether deposits will continue.

Comparative Market Analysis
Sometimes markets decline and property values fall. If this is part of the reason that you cannot sell your home for enough to pay off the lender, this fact should be substantiated for the lender through a comparative market analysis (CMA). Your real estate agent can prepare a CMA for you, which will show prices of similar homes:

Active on the market
Pending sales

Solds from the past six months.

Purchase Agreement & Listing Agreement
When you reach an agreement to sell with a prospective purchaser, the lender will want a copy of the offer, along with a copy of your listing agreement. Be prepared for the lender to renegotiate commissions and to refuse to pay for certain items such as home protection plans or termite inspections.
Now, if everything goes well, the lender will approve your short sale. As part of the negotiation, you might ask that the lender not report adverse credit to the credit reporting agencies, but realize that the lender is under no obligation to accommodate this request.

Read more about Before you Buy a Short Sale.

Click Here For Page Two About Short Sales

Have you ever desired the house of your dreams whether it was in another state or right here in the Marathon, Duck Key, or Key Colony Beach Florida area? We call it “The American Dream.”

Wikipedia describes the American Dream as a belief in freedom that allows all citizens and residents of the United States of America to achieve their goals in life through hard work. A part of that American Dream is to own our own home, you know, that proverbial house with the white picket fence and all.

Americans have a long tradition of a solid work ethic to reach our dreams. No doubt about it, it does take a lot of work to own your own home. Over the years, the American Dream has changed a bit in relation to finding that home. Years ago it was much simpler. You purchased a plot of land and built your house on it. Now, we spend hours and hours looking for the right area to live; the right schools for our children; and the perfect house with the perfect yard. We have to make sure that that house has the best of everything. This can be exhausting!!! Not to mention, do the neighbors have barking dogs?!

In spite of today’s complexities, the American Dream is still alive – dreaming of making a better life for ourselves and our families. We have high hopes and great expectations. Our goals are founded on those high hopes, and we will do anything to achieve them.

America is known as the land of plenty, the land of opportunity, and the land of destiny. Free enterprise is at the foundation of that dream. In relation to owning our own home, the possibilities are limitless in America. We have so many choices and are very fortunate. In America, owning your own home (private property) is a fundamental, Unalienable right. This American Dream is real, and it can be achieved.

The paradox is: some people say that we are working so hard to make the American Dream happen that we are not taking the time to enjoy the American Dream.

I am here to help you not only make your dreams come true but to help you enjoy the process of finding the home of your dreams in the Marathon, Duck Key, and Key Colony Beach Florida areas.

So . . . live your dream, but enjoy the journey!

Want to Be Taken Seriously in the Foreclosures Market? Make a Realistic Offer!
5/7/2008 8:39:25 PM
By Rick Sharga, Vice President of Marketing for RealtyTrac
It’s no wonder that the foreclosures market is gaining popularity among first-time buyers and real estate bargain hunters alike. Foreclosure properties can often be purchased at 10 to 30 percent less than their market value, making them an attractive investment in a time of soaring real estate prices.

But despite what you may see on late-night cable TV, investing in foreclosure properties isn’t a sure fire “get rich quick” formula. Lenders aren’t likely to give properties away, particularly in a real estate market where prices continue to rise. And homeowners in financial distress still have some leverage to negotiate the purchase price, particularly early in the foreclosure process.

“You have to practice both diligence and patience when looking to buy a foreclosure property,” explains Jim Saccacio, chief executive officer for RealtyTrac. “There really are some fantastic deals out there, but you have to be willing to wait for the right opportunity, then make a realistic offer so the seller will view you as a serious buyer.”

With interest rates ticking upward, experts predict an increase in the number of foreclosure properties on the market. Web-based services such as RealtyTrac, give consumers access to foreclosure and pre-foreclosure information that was previously available only to professional real estate brokers and investors. Today, homebuyers can use these services to identify and research potential home purchases, as well as to find the tools and professional resources they need to help them close the deal.

Sales in this marketplace can move rather quickly, so there’s no time to make uninformed or low-ball bids on properties in a half-hearted attempt to save a few bucks. Nothing turns a seller off faster than a low-ball offer on a fairly-priced property. In most cases, doing so may irritate the seller so much that no further negotiations will be entertained, meaning that you’ve essentially lost any opportunity to buy the property. Conversely, making an uninformed offer that is too high may get you the house you want — along with a never-ending monthly reminder that you overpaid!

Find out what the house is really worth
In order to make a realistic offer, you first need to know what the actual value of the property is. Look at the original purchase price and recent comparable property sales to determine the current value of the property. You can obtain information on recent sales in the area from your realtor or via RealtyTrac’s Comparable Sales Report. Ideally, you should look at sales in the area over the past six months. Then you can drive by each property on your list and note its condition, size, appeal and location. You should also look for properties that are currently listed for sale in the area and research the same information for them. This information, along with a thorough examination of the condition of the property, should give you a good feel for what it is really worth.

Find out how much is owed
You should also find out the amount the seller is in default and the remaining loan balance. In order to determine a reasonable offer price, you’ll need to know — at a minimum — how much money it will take just to satisfy the debt to the lender (or lenders). Knowing this will help you determine whether the property is within your price range or unattainable considering your current finances.

The estimated loan amount and default amount are included in the foreclosure documents filed with public records, and RealtyTrac posts this information online for subscribers. Additionally you can order RealtyTrac’s Legal and Vesting Report or Transaction History Report to check for any other mortgage loans on the property.

Ultimately, even if you’ve presented what you believe to be a fair offer, you’re likely to receive a counter offer from the seller. That’s to be expected as the negotiation process is a major part of real estate sales in general — even foreclosures. Remember, a successful negotiator in any situation must be informed, prepared and realistic. Again, you must practice patience and diligence in order to get the property you want for a price you are willing to pay.

Lastly, it’s important to remember that real estate purchases can be rather emotional, especially as you grow attached to the idea of owning a particular property. It’s important to know what you are willing to spend on a home, regardless of your emotional attachment to it, so you need to set a limit and stick to it.

Marthon Florida Real Estate › Create New Post — WordPress

foreclsoure-fraud-in-florida.pdf

House Bill 643 Passes on May 28th, 2008 .  Foreclosure Fraud in Florida Law.  How will it change YOUR business?

Here’s some of the highlights
(I guess I should say Lowlights!):
1. A person in foreclosure on their primary residence will have 3 days to change their mind when selling their house.  This also means there will be new disclosures and new deadlines to keep track of on your transactions.  Also, many agents have listings they don’t know are in foreclosure…you may now be responsible to find out!
2. Some agents and investors will just choose not to help people in foreclosure because of all the extra potential liability.
3. It will limit the ability to collect any up front fees, which means some of the short sale negotiation companies that charge a fee to get started (and more of them are starting to), the seller will be restricted from paying them.
4. The way they wrote the “exclusions” is kind of weird, in one way it looks like real estate agents are exempt, but in another way it looks like they are not, so we will need to wait for some clarification.
5. It will eliminate “subject to” on a primary residence in foreclosure.

Keep watching as I keep you updated!

Click Here to read the new law.

  

Make the rest of your day, the best of your day  

  

Your Real Estate RainMaker For Life
Lilas Lela Ashkarian, P.A., CRS, e-PRO, GRI
Coldwell Banker Schmitt Real Estate
11050 Overseas Highway, Marathon, Fl 33050
emailme :lela@coldwellbanker.com
visit me : http://www.MyHomesInTheKeys.com
800-366-5181 ext 6492
Direct: 305-395-0814
Fax:305-946-7771
e of the M

Your Property Buying

Goals & Dreams

PPrrooppeerrttyy SSeeaarrcchh

1) Enter your criteria in the Multiple Listing Service (MLS)

2) Together we review results and determine the properties to

view

3) Please do ask me about any properties you may have seen

advertised in any publication, that has a sign, or is on the

Internet, as I can provide you with detailed information about

them so those of interest are added to the list of properties to

view.

4) We view those properties to determine the “Best Fit” property

for you.

? Do provide me your candid impressions of each property we view

to assist us in fine-tuning the search process.

5) I provide a Comparative Market Analysis (CMA) for your

“Best Fit” property

6) We review the property history and upgrades/improvements

in the “Tax Records” & “Property Data Record Card”

7) I furnish a “Preliminary Estimate of Buyer’s Closing Cost” for

purchasing your “Best Fit” property

PPrreeppaarriinngg, SSuubbmiittttiinngg && Negotiating your offer to purchase

Note: You add to your negotiating power by being preapproved

for a mortgage, as sellers and their agents know

you are a serious buyer

9) Determine and write the terms of the offer utilizing the

FAR/BAR-7 “As Is” Contract For Sale & Purchase

? Establish “Escrow Deposit” amount and dates

? Prepare appropriate addendums for the offer

10) Submit and review the offer with the Listing Agent

11) Keep you informed concerning Seller’s response

12) Assist in preparing responses/counter offers as appropriate

Achieving Your Goals & Dreams

Prrocess ffrrom Conttrractt Accepttance tto Cllosiing

13)Provide & discuss with you the “Critical Dates Checklist”

of Buyer items requiring completion to take ownership of

the property

?To facilitate timely completion by each date, our Intranet

sends me a reminder of each item prior to the due date

14)Assist you in completing inspections and obtaining and

reviewing documents in accordance with contract due

dates

?Provide you with a list of companies and individuals who

can provide expertise and services in specific areas

15)We conduct a “Walk-Through Inspection” of the property

to verify the condition is in accordance with the terms of

the contract and completion of any required repairs the

day prior to closing.

Welcome to MarathonFloridaRealEstate.com. I hope you’re enjoying the spring-like weather. It’s time to “spring clean” your homes and get them ready to sell. I’m Lela Ashkarian and am here to help you jump start your way into that new “dream home” you’ve been waiting for.

Economic forecasts show that our economy is “springing” back! Take advantage of it and don’t miss the incredible deals that will be starting to happen within the next few weeks.

MarathonFloridaRealEstate.com is all about great deals and getting updates about the over-all state of Real Estate here in Marathon. In reality, real estate can only get better. It’s time to carefully monitor shifts in thinking, evaluate innovation and track existing real estate trends.

It seems that every decade or so, a year comes by that really defines our industry. As we stand at the beginning of 2008, we are in a period of time destined to be landmark years.

So go to MyHomesintheKeys.com and let me - Lela Ashkarian - help you achieve your goal and be the perfect stepping stone along your path!

As you consider buying a home in the state of Florida, in areas such as Marathon, Duck Key, and Key Colony Beach, look at criteria such as location, design, size, and pricing. We are all different and have our own special needs.

You will also have many questions such as:

• Can I afford my “dream home“?
• Where will I get my mortgage?
• What is my credit like right now?

I will be happy to answer each of these questions, and more. My experience has given me the knowledge of the market and the experience to answer all your questions more efficiently.

Now, if you are in need to sell your home in the Marathon FL, Duck Key, or Key Colony Beach Florida area, it is obvious that you will want the best possible deal. I can help you decide what needs to be done to your home to get it in the best possible shape for it to sell and sell quickly.

Is it a buyers or sellers market in the Marathon FL area? The market conditions will play a crucial role in determining the asking price. Because market conditions change constantly, it is important that you get solid advice from an agent or REALTOR® familiar with Marathon and surrounding areas in the Real Estate market.

Knowledge and experience are the keys to look for in a successful real estate agents business. So, in order to provide you with the best, over-all experience, find someone who is committed 100% to your cause.

Choose a reliable real estate agent to help you with your Real Estate needs in Marathon, Duck Key, or Key Colony Beach Florida area and make your home buying or selling a fulfilling experience. Take the stress out of the total real estate experience and let experience work for you.

If you would like to learn more about Lela Ashkarian and Marathon Florida real estate simply visit MyHomesintheKeys.com.