Could New Rules Speed Up Short Sales?

A recent press release from floridarealtors.org on January 12, 2010 talked about the federal government setting new guidelines for short sales of homes, giving lenders a 10 day limit to respond to offers, freeing borrowers from debt and providing financial incentives to lenders.

If this is true and actually happens it could help the 30A Real Estate market sell off the inventory of short sales and foreclosures.  If we can do that it would relieve the pressure on “regular” sellers and stabilize home prices.

According to the article, to speed up the process, the U.S. Treasury is calling for lenders to respond to short sale offers within 10 business day. Sellers are eligible for $1,500 moving allowances, and they will not be on the hook for repayment of any debt.

Lenders will also get $1,000 to cover administrative and processing 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.

This is certainly interesting news and potentially very helpful for everyone looking to buy or sell 30A Real Estate.

If you are interested in learning more about how short sales work simply contact John Moran with Keller Williams Realty’s At The Beach Team and he will be happy to answer your questions.  John can be reached at 850-654-3325 or via email at JohnMoran@AtTheBeachTeam.com

If you are interested in 30A Short Sales or 30A Foreclosures simply click on the highlighted copy.

The 30A real estate market has changed dramatically over the last few years and has left several owners in a position of not being able to carry their properties anymore. 

Many people in this position are turning to short sales to get out from underneath the mounting financial pressure that comes from owing these properties. Simply stated a short sale is when you sell for less than what is owed on the mortgage and the bank accepts the amount.

Why would the bank do a short Sale?

Well let’s say your financial picture has changed since you bought the property and you are now facing a “financial hardship” that has put you in a position of not being able to make your payments and the possibility of foreclosure is looming. In cases where foreclosure is likely it makes sense for the bank to negotiate a short sale because it is generally costs the bank much less than if they have to take the property back, maintain it while marketing it to a new buyer – all with the possibility of getting less than what was on the table as a short sale.

What are acceptable hardships?

According to HUD – the Dept. of Housing and Urban Development – there are many valid reasons and hardships to be acceptable for default.  Here are 5 of them.

1. Death of Principal Borrower
2. Serious Illness of Principle Borrower
3. Marital Problems (Divorce, Separation)
4. Unemployment
5. Lessened Income

These are only 5 of the “Acceptable Hardships for Short Sales” and there are many others so if you are considering a short sale and would like more information about acceptable hardships or any other questions relating to short sales simply contact Keller Williams Realty’s At The Beach Team today and we will be happy to help.

Interested in buying a short sale?

To see all the 30A Short Sales currently for sale simply click on the link or you can sign up for the 30A Short Sale Alert and we will email you every time a new 30A short sale hits the market.

California First

I was on Lenny LaRocca’s web site www.southbayhomeexpert.com – Lenny covers the Hermosa Beach area in California and I saw that this house in Torrence CA recently sold for $619,000.  It was built in 1954, has 3 bedrooms, 2 bathrooms and 1,338 sq. ft.   

What About Florida?

By comparison this 5 bedroom 5-1/2 bath – 4,518sq.ft. house on Eastern Lake in Seagrove Beach Florida is for sale for $590,000. 

Interesting isn’t it? 

For more information on 30A Homes For Sale or 30A Condos For Sale simply click on the links and let Keller Williams Realty’s At The Beach Team help you get your place at the beach – relatively cheap!

Florida Panhandle Beaches are a Top Destination

I am really proud to say that one of the top destinations for 2010 is the place I live in. Out of thirteen destinations all over the word, I am not surprise that Florida Gulf Coast is one of them. This place is amazing! There are things to do for the entire family.  The Florida Panhandle Beaches are a must see destination.

This place has been overlooked by many, but the true is that it contains some of the most diverse recreation choices along Florida’s Gulf coast, and some of the best options for visitors seeking an affordable family vacation.

Rosemary Beach Short Sale - Click on picture for details.

Short Sales Are Going To Explode in 2010 – Take Advantage Of Them To Get Great Deals On Real Estate

The simple logic is that it is less expensive for a bank to do a short sale than to go down the road of hiring lawyers to foreclose on a property and then hire a realtor to market the property at possibly an even lower price than what is on the table.  It’s the classic a bird in the hand is worth two in the bush thinking.  And it works for everyone – property owners get rid of a debilitating debt, banks unload a “toxic” mortgage and the buyer gets a property at today’s fair market value. 

How does one find short sales?  read more 

To find short sales in the area you would like simply sign up for our Foreclosures and Short Sales Alert which is a FREE service that will email you everytime a new foreclsoure or short sale comes on the market in your particular area of interest.   The Foreclsoures and Short Sales Alerts are available at

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Learn More About Buying and Selling Short Sales

To learn more about how to buy or sell a short sale simply contact John Moran at Keller Williams Realty’s At The Beach Team by calling 850-654-3325 or via email at JohnMoran@AtTheBeachTeam.com

Southwest Airlines and Bay County tourism officials met in Dallas on Wednesday to sign an agreement.

This agreement will put local bed-tax muscle behind the low-cost carrier’s efforts to market the allure of local beaches.

Southwest airlines will provide daily non-stop flights from 4 cities to the new airport. These cities have not been announced yet. The airline officials will adjust flight schedules to meet the new airport’s May 18 grand opening.

The Walton County Tourist Development Council is expected to authorize a deal with Southwest similar to the Bay County agreement for a half-cent bed tax that county recently approved.

Come back to read more about the new airport.

Visit www.AtTheBeachTeamFL.com for things to do in South Walton