Foreclosure Scams and Short Sales – What You Need To Know
Along with the increase in foreclosures over the last several years, there has also been a corresponding increase in foreclosure scams. Many businesses have taken profits on the crisis while taking advantage of unsuspecting home buyers. Buyers looking to capitalize on the housing crisis and purchase a first home or vacation home were unaware of these tactics. The sad reality is that many people have fallen victim to these scams because they simply did not understand some basic facts.
The facts are that home buyers should first engage a Realtor to find foreclosures. The first and most prevalent scam tactic, and a definite red flag for home buyers, is that a fee is required up-front. The fact is that many companies advertise on the internet and other media selling foreclosure lists for a fee. The truth is that Realtors see foreclosures first in the MLS. Asset managers and some banks list REO (bank-owned) properties directly with Realtors and those listings then appear in the MLS and become newly listed foreclosure properties.
Another concern of home buyers of late is the thought that a foreclosed home they purchase can be taken back if the former owner wins a lawsuit against the former lender. This is simply untrue. As long as the new lender and new owner have title insurance, the former owner can’t seize the home back. The new owner will keep the house, and the displaced former owner will be awarded monetary damages at best.
Also, be aware that a “short sale” is not a foreclosure. There are many parties involved in a short sale transaction. A short sale usually occurs, when a homeowner defaults on their mortgage and they are looking to get out of their loan obligation before their home is foreclosed upon by the lender. In order to sell the home, they have a Realtor put it on the market at a discounted rate, usually below market value. Sounds like a good buying opportunity, but is it?
Most often, short sale real estate listings will have prices posted that seem like a deal. Problem is, that price has not been approved by the lender. In these cases, the bank approved selling price is eventually much higher and the new listing price will be raised in the MLS. This new price will not be close to what was originally stated to draw in the buyer. Even if the primary lien holder gives an approval and can settle on a price, there are often times when second lien holders will not. When more than one lien holder is involved, it becomes three times more difficult to get a short sale closed.
We advise our buyer clients to avoid short sales (pre-foreclosure), and the lengthy buying process is only one reason. Buyers negotiation leverage is reduced in these transactions and we would rather see our clients look at bank owned properties (post-foreclosure).
Grey Oaks Real Estate | Grey Oaks Country Club | Luxury Living
Grey Oaks real estate and country club is a luxury home community centrally located in Naples, Florida. The luxury golf courses and custom homes neighborhood is unique due to its three pristine golf courses and well crafted homes that surround its perimeter. The golf course names are Pine, Palm and Estuary at Grey Oaks. Estuary at Grey Oaks Country Club was named “Course of the Year for 2005″ by the Florida Golf Course Owners Association. The artistry carved among the tall pines, cypress, and oak trees shines along with the tranquil lakes in this private sanctuary. It can be simply described as breathtaking. Most homes have fantastic vistas and the gated community is minutes from the vibrant downtown district where there is plenty of shopping, dining and entertainment. The city is an internationally recognized vacation destination with seven miles of white sand and has quickly become the definition of luxury on the Gulf Coast. The luxury lifestyle, diverse culture and environmentally conscious attitudes here have molded the Collier County area into one of the most attractive locations for real estate opportunities. Some of the most luxurious golf course communities call Naples home.
Whether a vacation home or permanent one, this is a prime real estate location for custom home opportunities. With only the finest builder craftsman in South Florida, golf and custom estate homes in this luxurious gated community should not be overlooked. With the first active seniors from the boomer generation reaching age 65 in 2011, and a total of fifteen million expected to move to Florida over the next two decades, now is the time to get serious about a future home here. According to real estate developer Del Webb and other independent surveys like the University of Michigan study, appreciation from bargain prices this year is a near certainty this decade. Grey Oaks Country Club has other numerous awards, including Travel & Leisure’s top 100 golf communities and Platinum Club 2009 which ranks the Golf Club as a Top 35 Private Golf Club in the U.S.
The sub-divisions here include the Grey Oaks residences of Torino, Miramonte and Traditions. Torino is luxury villa living with one and two-story residences complete with old world Tuscan designed architecture and streetscapes. There are 54 villas within the Mediterranean styled village and it is designed to provide a relaxed lifestyle and charm. Miramonte also consists of one and two-story villas and is enhanced with more privacy and is a private enclave of 36 Mediterranean styled. Traditions, the Golf Residence at Grey Oaks, is the ultimate in golf course living. All Traditions residents enjoy spacious coach homes and world-class amenities. The pinnacle in terms of luxury homes here are the Estuary residences of Mirada, Marsh Wren and Noble Heron Estates. These mansions and million dollar homes offer large lots and great vistas. If luxury homes and luxury living is your destiny, don’t miss Grey Oaks.
Home Inspection in Naples Florida | What To Know
When approaching the task of buying a home, it is important to understand why a home inspection is necessary. The process can be stressful, especially if the buyer does not understand what is involved and what results are expected. A home inspection is designed to give a buyer peace of mind through knowledge. It often can have the opposite effect. Absorbing a great deal of technical information over a short period of time is part of the process and many home buyers simply do not have the training in home construction and building design to grasp the technical information. This generally includes a written report, photographs, environmental reports, and a written summary from the home inspector regarding the overall condition of the property. Combined with the seller’s disclosure may make the experience even more overwhelming.
Inspectors are trained professionals and generally possess a background in home design or the construction trades. Some have been plumbers, carpenters, roofers or even electricians. Some come with an architectural background or even may have been former home builders. They are licensed and among the most highly trained in the industry to spot common construction problems. Water intrusion and the extended problems caused are one key area they focus on. HVAC (Heating, Ventilation and Air Conditioning), plumbing and electrical are a few others. Most of your inspection will be related to maintenance recommendations and minor imperfections. These are good to know about. However, the items that are most important and really matter will fall into the following categories.
1. Major defects; An example of this would be a structural defect.
2. Problems that lead to major defects; a small roof leak and potential for mold development.
3. Problems that hinder the ability to finance or occupy the home; Chinese Drywall for example.
4. Safety hazards; Such as an exposed wiring in the electric panel or electrical outlets.
Anything in the above categories should be repaired immediately. Often a potentially serious and costly problem can be corrected inexpensively when done quickly before the damage becomes extensive. Roof leaks are a good example of this as water can travel far and can cause major interior damage and even mold if left unchecked. Most home sellers are honest people and are often surprised to learn of building defects uncovered during a home inspection. This is why it is important to perform the home inspection in the first place. Some home sellers actually have the home iinspection done before the home is put on the market and offer potential home buyers copies of the home inspection report. Home sellers are under no obligation to repair anything mentioned in the report, but most will, or at least share in the cost. No home is perfect so it is important to keep things in perspective.
Naples Florida Moving Guide | Moving To Naples Florida
Moving can be both exciting and stressful. Thoughts of new and exciting activities, beautiful weather and great beaches are all positive. On the other hand, choosing a new Naples home, even with the right Realtor, can be a bit of a stressful experience. If you are planning on moving to Naples Florida, it would be very helpful if information was available to ease the transition. Information like Naples Schools, Restaurants, Worship locations, shopping malls, golf courses, and other important community information. We have put together a solid list of information for the beach area where we cater to our clients, mainly for zip codes; 34102, 34103, and 34108. Although you may find some surrounding zip codes in the information provided, the main location for the information provided is all about these three zip codes near the beach. So, please click on the links below to view this valuable community information.
Naples Florida Area Guide
Naples Florida Schools Guide
Naples Florida Restaurants
Naples Florida Worship Locations
Naples Realtor Discusses Home Staging in Florida
Florida home staging is an art, and best accomplished by a Naples Realtor who first focuses on the exterior of a Florida home. This is true for two reasons. First, the exterior of a home is the first impression a buyer receives when arriving at the location of any real estate property. In the trade, this is referred to as “curb appeal”. In Naples, Florida, this is especially important, because in a Sunbelt community the exterior of a home is as important as the interior when weather allows for more time outside. In the northern U.S., where cold winters, and a great deal of inclement weather chases folks inside, it is a lot easier to ignore curb appeal and focus on the interior of a home where more time is spent. The second reason for focusing on the exterior of a home when home staging in Florida is that it is just plain inexpensive to increase curb appeal. Landscaping, cleaning cobwebs, and even painting are relatively cheap when compared with many interior home staging strategies.
When it comes to home staging, it is common to freshen up a home’s curb appeal with mature landscaping and dark-brown mulch. Also, investing in four or five over-sized urns at your local nursery to accommodate flowers or other flowering plants is a good idea. These urns can be placed at strategic locations on the exterior of a home, using drip irrigation to keep them blooming well. These urns can also be placed at the rear of a home as well, possibly around a pool, to entice buyers into feeling the beckoning of a private oasis. Rich looking, dark brown mulch around trees, bushes and other areas is also a must. If you are having a landscaper do the work, insist on the color, and even ask to approve it before application. These days there are many different types and colors of mulch, some actually “red”; which look very unnatural. If some plants have been in for too long, “woody”, or just not looking quite as full as they once were, replace them with new robust plants. Plants are very well cared for at nurseries where they have superior techniques, fertilizers and skills which deliver the lush look of new plants. Lastly, do not forget cleaning. This is best done last after moving all the landscaping materials around which can cause a bit of a mess. Brooming first, and power washing second, is recommended to finish off the project.
In summary, it is really inexpensive for Naples Realtors to focus Florida home staging on the exterior of a home. It is too bad it is not this easy everywhere.
read moreOld Naples Real Estate in Florida | What You Need To Know
Old Naples real estate is best described as quaint, historic, with Old Florida styled homes common and a nice mix of newer luxury homes. Home prices are half what they were four years ago which is a real bonus for would-be buyers. A beach mansion, golf course home, or beachfront high-rise condo are all options. Naples homes are staging a moderate price increase these days. The upscale and cosmopolitan community is located in the center of the evening entertainment action between the beach and Gulf Shore Drive on the West; Naples Bay on the East, and The Naples Beach Hotel and Golf Club on the North. To the South of Old Naples FL lies the Naples Yacht Club at the intersection of 7th Street South and 14th Avenue South. Aqualane Shores, Royal Harbor and Port Royal are nearby adjacent communities. The community is also quiet at just the right time and within walking distance of the beach. High-rise MLS listings provide great views of Old Naples, the Gulf of Mexico and Naples Bay. If you look forward to an active retirement lifestyle, this is the place. With well kept landscape and many mature shade trees, Old Naples has much to offer.
This Naples Realtor suggests that Old Naples real estate will always be sought-after for homes for sale as an active retirement community with vacation homes also a popular choice for those not yet ready to pull back from the working world. Beautiful views of the gulf and quiet streets for a perfect evening stroll make this quaint community a definite first search for active and current MLS listings. Fifth Avenue South boasts many fine restaurants such as Chops, Vergina, and Bice. Cambier Park has many outdoor concerts and art shows along with a great tennis club. In addition, many art shows are held at the park. Third Street South, only a few blocks away and a favorite of locals, is also a great venue for restaurants and upscale shopping. World famous Naples Pier is a great venue for sunset and and a short walk from the both entertainment districts. The Sudgen theatre adds much as a performing arts venue and sells out continuously.
A quick homes for sale search of Old Naples will locate many great real estate properties and vacation homes. Rarely can one find a neighborhood where dining, shopping and entertainment exist so perfectly together, with other luxury homes enclaves nearby. For instance, Venetian Village which includes some of the finest restaurants offering waterfront dining, is located adjacent and to the north in Park Shore, as this neighboring waterfront community also offers a similar lifestyle on the beach. Visit other Naples communities on our website like the luxury golf home subdivisions of, Grey Oaks and Tiburon. Pelican Bay with a two miles of private beach, and Pelican Marsh also with beach access are also worth a look.
How To Buy Real Estate Foreclosures | Naples Florida
Use A Six Percent Real Estate Sales Commission! Here’s Why.
Many folks mistakenly think that a selling commission is something to avoid. Others want to reduce the selling commission. First, let us explain why we advise our selling clients NOT to deviate below a six percent sales commission. Agents have powerful search tools available in the MLS that allow them to search properties for sale at any commission level or range. Buyers agents can be especially focused on this as they only receive half of that amount. We are seeing some saavy lenders offer seven percent and bonus commissions as well to encourage the sale of foreclosed properties. Real estate agents are only human, and some may be tempted to “screen-out” properties listed at lower commissions when deciding what properties to present to clients. Although Realtors are bound by a code of ethics, not all agents are Realtors; which is a special designation earned with a hefty annual fee and adherence to a Code of Ethics issued by the National Association of Realtors. We again advise NOT lowering the sales commission.
read moreNaples Real Estate | Free Naples Homes Foreclosures List
Naples real estate in Naples Florida is some of the most scenic beach property in Florida. Located on the sun-drenched southern and west coast of Florida, Naples captures gorgeous nightly sunsets that lures many. With its super-white pristine sand beaches and perfect year-round temperature, Naples homes and MLS listings are shopped heavily by residents of both the U.S. and Canada. Even our friends in Europe are finding Naples luxury homes attractive these days for both a seasonal home or an investment property as well. U.S. property buyers are fortunate to find some of the lowest cost real estate on the globe here, in addition to the currently running vacation homes sale. This combination of great geographic position combined with low cost, continued population expansion globally, and limited coastline are the macro-economic factors that are driving real estate prices higher in Naples, FL. We can supply a list of foreclosures for Naples homes, so contact a Naples Realtor today. QTKEGQZKSCZD
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Bay Colony Real Estate | Naples Florida | Why Buy Now
Bay Colony Real estate home prices here mostly topped the million dollar mark five years ago, but today the central theme is really million dollar views for less. Naples luxury homes and Naples luxury real estate is in-demand. Dream home MLS listings offer mansions for sale and million dollar homes in this upscale community at dreamy prices today. Luxury real estate is again in-demand at today’s bargain prices and things are looking good here in 2011 with pending sales up triple digits. Real estate properties can be financed conventionally and also with a reverse mortgage. Talk to a Naples Realtor for more details. High rise million dollar homes, and the Moorings beach homes on Gulf Shore Drive are favorites. Park Shore real estate near Venetian Village is a big part of the Naples luxury homes community as well. Some million dollar homes can now be found for under a million dollars in Park Shore.



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