5 Reasons Why I love Short Sales!!!!

Short sales have gotten a really bad rap and I am hear to proclaim my Love for short sales but mostly in keeping with the old Song, “Love the one yours With”  Short sales are here to stay for a while and instead of lamenting about the evils and perils inherent in them we might as well just lean to embrace them.  I have learned to appreciate and celebrate the good stuff and so in case you are not yet convinced let me tell you why.

1.  Short sales are a means to help owners get out of an underwater property with some of their dignity and some of their credit in tact. When you have a home that is worth 200,000 and you owe 500,000 and your income is a fraction of that you need some answers.  A short sale will usually be a less ding on your credit than a Foreclosure.

2.  Short sales are better for the neighborhood.  Short sales tend to impact a neighborhood less than several foreclosed properties hitting the market.  Foreclosures generally bring less money thus driving the prices down even further in an already depressed community. There is also more of a psychological negative with a foreclosure in the consumers eyes.

3.  There are many programs out there for consumers such as Co Op  programs, Cash for Keys, HAFA  among others that may allow homeowners to actually do a short sale of their home and receive a check at closing.  I actually did a short sale recently and the homeowner got a check for 1,000 dollars at the closing table that helped with their move.  Check with your favorite Realtor to see if you qualify for any of the programs out there.

4.  Right now and for the rest of this year you are able to do a short sale without a tax implication if it is your homestead.  There is no guarantee after 2013.

5.  Another plus for us Agents is obvious!!! What in the world would we have sold this year if not for short sales???? I know that I said not too many years ago….”Yuck I will never do short sales they are so hard to get closed!!!” Needless to say I changed my tune and have gladly helped customers close them on the listing and the buying side.

This is my short list for why I love Short Sales but if I really share my heart my biggest reason is to hear the sigh of relief and the smiles on the faces of my customers when we come to the end of that chapter in their lives.  It is important to remember all the people that have been so impacted by our changing economy and the fear that has gripped those whose lives have been forever changed.  When the day is done and the sale is complete the homeowner can start over and get his life back on the path that is moving in a positive direction.  Although simple this list…. it can be daunting so my advice is to grab your favorite Realtor and ask some questions and see if you too can fall in love with Short Sales!!!!

“The only people we have to get even with are those that have helped us”  Thankfully my list is long.

Karen Key Smith

 

Episode #19 – Huge Gulf-Views in Quiet Inlet Beach only $399k

This week’s features:

  • Deal 1 – Inlet Beach Gulf View Home, steal it at $399k
  • Deal 2 – Cute Florida cottage steps from the Beach for $295k
  • Deal 3 – Super clean least expensive home in Summer Wood only $245k (not a short-sale of foreclosure – very quick closing)

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

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

Click the “more” tag for show notes and pictures.

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

Show Notes

Deal 1 – Inlet Beach Gulf View Home, steal it at $399k

  • List Price: $399,000
  • Square Feet: 1,851
  • Price/SqFt: $215.56
  • 3 Bedrooms, 3 Bath
  • Built in 2001
  • Located in the highly coveted, quiet Inlet Beach, west of Panama City Beach, this home has unobstructed views of the gulf overlooking government owned and county maintained land. From the driveway, you can see the public boardwalk with benches that carry you over the protected dunes to the pristine Gulf waters. From the second floor you have phenomenal views of the water. This home is spacious and in a perfect location. Located right next to Rosemary, you couldn’t touch anything over this way for twice as much as this just a few short years ago. Steal this home today at just $399!

Deal 2 – Cute Florida cottage steps from the Beach for $295k

  • List Price: $295,000
  • Square Feet: 1,439
  • Price/SqFt: $205.0
  • 3 Bedrooms, 2 Bath
  • Built in 1955
  • Remember the good ‘ol days, when the fam went to the beach for a week, staying in a cute little Florida cottage right across the street from the beach? Karen does, I’m too young, but that doesn’t change how cute this place really is. Perfect for a rental, sleeping up to 10, this home is laid out in a way that makes it seem so much larger than it really is. With a huge living area and a great split floorplan, this is a vacationers dream. Of course, when you add the amazing back yard, this place is just irresistible. With pavers, a few separate sitting areas gorgeous landscaping and a beautiful pool, this is the place for entertaining.

Deal 3 – Super clean least expensive home in Summer Wood only $245k (not a short-sale of foreclosure – very quick closing)

  • List Price: $245,000
  • Square Feet: 1,790
  • Price/SqFt: 136.87
  • 3 Bedrooms, 2 Bath
  • Built in 2001
  • Summer Wood is located right down from Pier Park of Back Beach Road in Panama City Beach. This neighborhood features underground utilities, sidewalks and houses that look clean and consistent. This particular piece of real estate is a very well maintained, emaculate, super clean home that features not only a new A/C, but also hurricane shudders, two car garage, professional landscaping, great light fixtures, high vaulted ceilings and custom paint. This is the least expensive home in Summer Wood, and will offer a truly unique quality of life. And, the best thing yet is that it is NOT a foreclosure or a short sale!

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

Episode #13 – Gulf-front House for $850k

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

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

Click the “more” tag for show notes and pictures.

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

Show Notes

Deal 1 – Brand New Home, Needs Nothing for less than $200k

  • List Price: $192,900
  • Square Feet: 1,500
  • Price/SqFt: $128.60
  • 3 Bedrooms, 2 Bath
  • Brand Spankin’ New – Just completed
  • Looking for a home with great green grass, sprinkler system, fenced in yard, brand new inside and out, including EVERYTHING and has NEVER been lived in? This is the home for you. This home was completed earlier this year and was under contract set to close recently, but everything fell through on the buyer’s side last minute. I love this home. Everything was done very cleanly and there is so much room to move around. The lot is huge with a huge, grassed, fenced in back yard. When you think of a great quality Florida starter home, this is what you think of. Proximity to the beach is great, you could walk to a public beach access in under 5 minutes.

Deal 2 – Gulf-front HOUSE for $850k

  • List Price: $849,000
  • Square Feet: 3,100
  • Price/SqFt: $273.87
  • 7 Bedrooms, 3.5 Bath
  • Built in 1976
  • Old beach house with 50 feet on the Gulf of Mexico. Total fixer-upper, but it’s listed at the same price vacant lots are listed for. Individual Gulf-front lots are a precious commodity in Panama City Beach and this is a rare opportunity to have something very few others have. This is a foreclosure listing.

Deal 3 – Absolute Steal in Wild Heron with Rare Full Golf Membership at Shark’s Tooth

  • List Price: $334,900
  • Square Feet: 2,192
  • Price/SqFt: 152.78
  • 2 Bedrooms, 2 Bath
  • Built in 2006
  • If you are looking for that high-end neighborhood in Panama City Beach that’s new, Wild Heron is it. Truly one-of-a-kind, Wild Heron boasts the only highend feel and world-class amenities in the area. This home has it all, including a two car garage, separate dining a kitchen areas, study area for an office, huge bedrooms and very awesome full wall sliding glass doors that bring the beautiful nature preserve behind the property right into your huge living room. Of course, the huge deal here is that the price includes a full golf membership as it was originally set up to Shark’s Tooth Golf Course.

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

The Secret of What Your Home's Worth – REVEALED

I, like many other Realtors, send out a postcard when I sell a property proclaiming my excitement in hopes that someone will give me a call. Thankfully most of the people are sweet and just want some information, mostly on the value of their own home in that neighborhood and I am tickled to give them that information. This week I made a mistake. Although I knew better, I let a man convince me to give him a value of his home with only a little information. He was determined that I tell him what his house was worth sight unseen with little knowledge of his home other than the number of rooms and the year it was built. I kindly calculated what I thought it would be worth based on the homes that I know that have been selling and provided him a range of what I thought was reasonable. Apparently, I was WRONG, he did not like the number I gave him so that brings us to this weeks tip.

There are some things that your Realtor must know in order to give you an accurate value of your home. Doing it blindly over the phone is not the best bet and keep in mind it is every one’s best interest that she give you the right value. Realtors do not get excited about listing property – they love to sell it.

  1. Location: We have heard that one forever and it still remains one of the key factors in determining a homes value. For us at the beach, location to the beach and whether it is near a dedicated beach with easy access is a great factor as well. Also important is how many homes in your area are for ssle? How many are foreclosures? What is the general condition of the area? Are there high association fees in your area? If you live in an area with few houses for sale then you have a better chance typically of selling your home so make sure you ask your Realtor about the level of inventory in your neighborhood.
  2. Design, square footage and lot-size are all important to determine your homes value. Generally your Realtor will do a FREE Market analysis that will give you statistics of what the homes are selling for in your area and how long they have been on the market. If she is an active Realtor then she can give you a very good opinion of what your house will sell for but remember an estimate over the phone leaves her lacking vital information. PRICE is important today in that there are certain price categories that garner the greatest number of buyers.
  3. Loan availability and appraisals: Today more than ever it is important that buyers and sellers are aware if a property qualifies for a loan. Consumers are unaware that the type of property may determine whether a buyer can get a loan for that property. It is not safe to assume that if you qualify for a loan that qualifies the property as well. It is vital that you tell your lender what type of home you are considering and in the best case scenario have your Realtor send the mls listing to your lender that you are considering. Condos do NOT typically qualify in the same way a Detached single family home would and lots are an entirely different subject today.

There are many things to consider so please be patient with your Realtor and trust that she or he spends many hours working at her job and wants to provide you with good accurate information. Hey I did not even mention the economy because I figured you had enough to ponder for one week.

Of course I have to share the happy stuff as well because everyone that I talked to this week did not shoot the messenger. I got the sweetest note and flowers from a very kind lady that was grateful for me and that just made my day and made me think. . . I love this job I think I will stay.
Enjoy your week and be sweet to your Realtor!!!!!