The BP Effect – A Realtor’s Tale

The BP Effect series is brought to you by attorneys Reich & Binstock and Seeger Weiss LLP, which are helping businesses in Panama City Beach recover losses sustained directly and indirectly from the Deep Water Horizon oil spill. They can help your business too,

In this series, we’ve talked about a variety of ways this past summer’s oil spill impacted a variety of industries, but this week we’re going to embark on a two article “mini-series” on the oil spill’s relationship with the local real estate industry.

Continue reading “The BP Effect – A Realtor’s Tale”

The Skinny on Appraisals in Today's Market

How exciting you have an offer on your house and on to close you go!!! But we have one more hurdle to master…. the big appraisal question. Will it appraise and what in the world do we do if it does not? Well in good ole yesteryear people were fighting over property so they would just up the ante and away we would go to close. Today however that is not the game and even cash buyers are putting a clause in their contracts, “property must appraise” So for all of us lay folks our there here are a few things that are involved in appraising your home. Continue reading “The Skinny on Appraisals in Today's Market”

Your Mortgage Insurance Questions Answered?

What is mortgage insurance?

It’s a financial guaranty that insures lenders against loss in the event a borrower defaults on a mortgage. If the borrower defaults and the lender takes title to the property, the mortgage insurer (MGIC, for example) reduces or eliminates the loss to the lender. In effect, the mortgage insurer shares the risk of lending the money to the borrower. (Mortgage insurance should not be confused with mortgage life insurance, which provides coverage in the event of a borrower’s death, or homeowner’s insurance, which protects the homeowner from loss due to damage from fire, flood or other disaster.) Continue reading “Your Mortgage Insurance Questions Answered?”

Short Sales – Hang on, Help is on the way!

I am very excited about news coming down the pike as a Realtor and my happy news may well be good news for would be buyers and sellers of short sales. When someone calls me about a home and I, through gritted teeth, tell them that it is a short sale, I can just hear their eyes rolling in their head. Hopefully these new Treasury proposed guidelines will help us all.

The main reason for the gritting of teeth and the eye rolling is the unsure outcome and the long time frame in waiting for the bank to give us an answer on a short sale. The new guidelines proposed by the federal government for short sales will address this issue. The new rules will give lenders a 10 day limit to respond to offers, free borrowers from dept and even provide financial incentives to lenders.

As the housing slump enters its fifth year these guidelines should factor into helping us see the light at the end of our tunnel. To speed up the process the U. S. Treasury is calling for lenders to respond to short sale offers within 10 business days. Sellers would be eligible for $1500 in moving allowances and they will not be strapped with repayment of any dept.

To further encourage banks, lenders will get $1,000 to cover administrative costs, while investors owning the mortgages will receive a maximum $1,000 for allowing up to $3,000 in short sale proceeds to be distributed to less senior lenders. Loan servicers participating in the Obama Administrations Home Affordable Modification Program are required to follow the guidelines.

The plan that must be implemented by lenders no later than April may be too late for my short sale that has been waiting on a decision since last April. We have gone through 3 buyers and it looks like we are at an impasse and off to foreclosure we go even though we have a willing buyer and seller. The first and second position lenders are not being good playmates. It is my hope however that we will see a change for the better. There are some banks that are already doing the responsible thing and working hard to make this painful process as pleasant as possible. You can rest assured that I will be using my brand of getting even with those fellows!!!

So till next week you know the drill by now, “The only people we have to get even with are those that have helped us”…… So get busy and go get even.

Short Sales – We Get By With A Little Help From Our Friends

If you read my articles you know by now I try to base them on real life problems and concerns of all the sweet people I encounter during my work week, especially in the area of short sales and foreclosures. I have had so many different mountain climbing experiences lately in relation to this I decided to seek advice myself and make sure I was equipped for the task. Continue reading “Short Sales – We Get By With A Little Help From Our Friends”

Episode #28 – Hurry, Beautiful Home on Grand Lagoon $123/foot

This week’s features:

  • Deal 1 – 3,566 SF home on Grand Lagoon, $123/foot
  • Deal 2 – Super great starter home for $87/foot, ONLY $115k!
  • Deal 3 – Affordable NEW home 1,577 sf only $179,500!

The Beach Show is your ONLY internet TV show all about Real Estate on Panama City Beach.

081909_podcast_iconSubscribe to our podcast in iTunes.

Or, you can click here to download it to your desktop.

Remember, it doesn’t cost anything to work with us if you are a buyer.

Click the “more” tag for show notes.

Call us at 850-527-5651 to see these properties or for anything else you need regarding real estate in Panama City Beach.

Continue reading “Episode #28 – Hurry, Beautiful Home on Grand Lagoon $123/foot”

The Beach Show – Our New Real Estate TV Show

Well, folks, here it is.  I’ve been talking about doing this for a while, I’ve been tweeting about it for weeks and we’ve finally gotten the kinks worked out.  The Beach Show is your ONLY internet TV show all about real estate in Panama City Beach.

Each week we’ll publish a video of the Three Hot Deals of the Week that show you what you need to be buying.  These deals will range from $60/foot attached townhomes to $150/foot beach-front cottages to new luxury homes in Wild Heron.  All of them are steals and most of them go under contract within a few days of them being featured – no necessarily from our efforts, but because they are hot deals.

The deals on the show will sell whether we feature them on the show or not, but the object is to get them in front of you before someone else buys them.  The real estate market may still be in the proverbial toilet, but there are still hot deals out there that disappear faster than you can say 3 Hot Deals of the Week!

Visit and read the show notes.

Also, in addition to the 3 Hot Deals of the Week, we have two other segments we feature each week from our good friends Karen Smith and Hunter Palmer.  Visit to read Real Estate Tips by Karen Smith and The Mortgage Minute from Hunter Palmer.

Half Marathon at Pier Park on Panama City Beach

Okay what is the goofy picture about? According to Karen all you need to do a half marathon is your cute little shoes and your nano and it helps to have a running partner. I guess you could do it without the nano with all your fun music but I would not try it.

I am so excited to let all my buds know that there is going to be a 1/2 marathon in Pier Park. Now all of us runners and wanna be runners (ie me) will not have to wait until the Seaside 1/2.

I spoke to Tricia Mayo at Girls inc and she gave me the low down

You must register at which I supplied to you in the previous blog and your contact to be a volunteer is Tricia at 769-6703. The event is going to benefit Girls Inc and how exciting that we are bringing something so wonderful to our community of runners.

I would really love to hear from you and your running adventures. As for Kriss and I we are doing the Jeff Galloway run walk method which I have used in for sometime now. What is amazing about this method is how fast you can run a race ( now that would not be me… but other people run fast) It is also a great way to exercise without hurting yourself.

Read more. . .