Kelly Plantation Real Estate News

Five Acceptable Short Sale Hardships

JohnMoran — Fri, 05 Feb 2010 16:34:47 +0000

The Kelly Plantation 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.

Death of Principal Borrower
Serious Illness of Principle Borrower
Marital Problems (Divorce, Separation)
Unemployment
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 Kelly Plantation Short Sales currently for sale simply click on the link or you can sign up for the Kelly Plantation Short Sale Alert and we will email you every time a new Kelly Plantation short sale hits the market.

Also take a look at Regatta Bay Real Estate News, The Destin Real Estate News, Destin Condo News for all kinds of information about real estate in these areas.

JohnMoran

John Moran, an award winning realtor at Keller Williams Realty, specializes in investment properties including beach front condos, second homes and residential land. He ranks in the top 1-1/2% of all realtors in the MLS for sales in 2007, 2008 & 2009. For more information about Destin Area real estate including Destin Foreclosures call or text John Moran at 850-217-7618.

Buying Kelly Plantation Real Estate in your IRA

JohnMoran — Fri, 05 Feb 2010 16:09:49 +0000

Because investing and Kelly Plantation Real Estate go hand and hand I think it’s very important to be informed as possible on how to maximize your investing power. With that in mind I came across this question and answer segment on Smart Money.com that address IRA’s and real estate. Take a look and let me know what you think.

Q. Can an IRA be invested in mortgages or real estate?
—Linda Bruyette, Ellington, Conn

Yes, some real estate (including commercial property, vacation rentals, raw land and mortgage notes) is permitted. At best, real estate provides steady income and long-term appreciation. Usually only special-purpose banks and trust companies offer these investments, as “self-directed IRAs.”

Potential risks are high. “Self dealing” is strictly prohibited—which means you can’t invest in something you or immediate family members use or benefit from. Otherwise your entire IRA balance is treated as a withdrawal and subject to relevant taxes plus a 10 percent penalty if you’re under age 59 1/2. Plus, there’s the liquidity issue: You need a big IRA to handle buying and maintaining property while also keeping a diversified portfolio. And if you need out quickly, you better hope for a robust real estate market. A good real estate mutual fund or exchange-traded fund is a simpler choice.

Click on the links to find Kelly Plantation Foreclosures, Kelly Plantation Short Sales, Kelly Plantation Homes For Sale

Also check out The Destin Real Estate News, Regatta Bay Real Estate News, Destin Condo News.

JohnMoran

Mortgage Rate Increases Could Affect Kelly Plantation Real Estate

JohnMoran — Tue, 02 Feb 2010 21:24:57 +0000

I saw this press release in Florida Realtors magazine and thought the information would be helpful for folks considering Kelly Plantation Real Estate For Sale. Take a look and let me know what you think.

COLLEGE STATION, Texas – Feb. 1, 2010 – According to Dr. Mark Dotzour, chief economist for the Real Estate Center at Texas A&M University, mortgage interest rates are low right now but don’t expect that to last. When the government quits buying mortgage-backed securities, rates will head up and away.

Dotzour says that mortgage rates were low at the end of 2009 because “the global consensus among bondholders appeared to be that inflation will remain low in the United States for an extended period. This caused the ten-year U.S. Treasury rate to fall to between 3.2 and 3.6 percent for much of the second half of 2009.”

With extraordinary levels of federal deficit spending, Dotzour says it is unlikely that the low-inflation scenario will be popular when the economy starts to rebound. Consumers should expect mortgage rates to rise when signs of improvement appear.

A second factor contributing to the low mortgage rates is the Federal Reserve Bank’s unprecedented purchase of nearly all the mortgage-backed securities issued by Fannie Mae and Freddie Mac in 2009, he adds. Totaling more than $1 trillion for the year, this program has been extended through the end of March 2010.

“The Fed has never done this before in its history,” says Dotzour. “They are doing this to stimulate the economy by keeping mortgage rates as low as possible. When the Fed stops buying these securities from Fannie and Freddie, mortgage rates are likely to increase, and possibly quite abruptly.”

How far will rates go up when the Fed terminates its buying program? Dotzour says that question is difficult to answer precisely because this has never been done before; but many experts think that rates could move up one-half to 1 percent.

“The combination of extraordinarily low mortgage rates and current price levels are making homes extremely affordable to American families. In fact, national and Texas housing affordability indices indicate that homes are more affordable than ever. But this will not last. When the economy recovers and the Fed stops purchasing mortgages, rates will rise.”

To read more on the subject, see Dotzour’s article “Rate Expectations” in the January 2010 issue of Tierra Grande magazine at http://recenter.tamu.edu/tgrande/.

For more information about real estate in the area check out Regatta Bay Real Estate News or the 30A Real Estate News and the Panama City Beach Real Estate News.

JohnMoran

California – vs. Florida Home Prices

JohnMoran — Wed, 20 Jan 2010 23:00:23 +0000

Ever wonder what houses are selling for in other parts of the country? I’ve heard for years that prices are extremely high in California so I thought I’d take a look and see how we compare and here is what I found.

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 house in the gated community of Kelly Plantation in Destin Florida sold recently for $600,000. It was built in 1998, has 4 bedrooms, 4 bathrooms and 3,350 sq.ft.

Interesting isn’t it?

For more information on Destin Homes For Sale or Destin 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!

JohnMoran

Prices Keep Dropping At One Water Place.

JohnMoran — Fri, 15 Jan 2010 22:20:51 +0000

How Low Will One Water Place Go?

One Water Place is a premier condominium complex located in the exclusive gated community of Kelly Plantation in Destin Florida and has seen its values hammered recently because of short sales and developer closeout pricing.

Example

A 3 bedroom unit 3,008 sq.ft. sold for $1,100,000 in July of 2007. In September of 2009 a similar unit sold for $575,000 as a short sale!

Ever think you might want to own in One Water Place?

If you are interested in purchasing a beautiful condo at One Water Place simply contact Keller Williams Realty’s At The Beach Team and we’ll be glad to help you get the best price possible. You can also sign up for our FREE Short Sale and Foreclosure Alert and we will email you every time a new One Water Place Short Sale or Foreclosure hits the market.

JohnMoran

New Rules For Short Sales To Make Them Go Faster!

JohnMoran — Fri, 15 Jan 2010 21:37:44 +0000

Could New Rules Speed Up Short Sales?

According to a press release from floridarealtors.org January 12, 2010 – the federal government is setting guidelines for short sales of homes, giving lenders a 10 day limit ot respond to offers, freeing borrowers from debt and providing financial incentives to lenders.

If this is true and actually happens it could be a very large boost for the Kelly Plantation Real Estate market. We need to sell off the inventory of short sales and foreclosures to 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 real estate in Kelly Plantation.

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 Kelly Plantation Short Sales or Kelly Plantation Foreclosures simply click on the highlighted copy.

JohnMoran

See Kelly Plantation Short Sales

JohnMoran — Sun, 10 Jan 2010 19:30:41 +0000

Only 4 Kelly Plantation Homes For Sale As Short Sales!

If you have been thinking of moving into Kelly Plantation and were thinking about going after a short sale be prepared for a fairly limited selection because there just aren’t very many right now. Granted new short sales come on the market all the time so you should sign up for our FREE Kelly Plantation Short Sale and Foreclosure Alert where we email you as soon as a new Kelly Plantation Short Sale or Foreclosure hits the market. That way you will always be on top of what is happening with regard to Kelly Plantation Short Sales.

Thinking of buying a short sale or selling as a short sale?

Short Sales can be complex and frustrating but if you have the right help they can lead to great deals for buyers and relief of crushing debt for sellers. For information on how to buy a Kelly Plantation Short Sale or if you are considering selling your Kelly Plantation home as a short sale contact Keller Williams Realty’s At The Beach Team at 850-654-3325 and we will be happy to walk you through the whole process and answer any question you may have. The At The Beach Team has been recognized by Keller Williams as a top producer and is ranked in the top 1% realtors in the Emerald Coast Association of Realtors for sales volume and number of properties sold in 2009.

JohnMoran

Southwest Announces Destination Cities

JohnMoran — Fri, 18 Dec 2009 23:00:26 +0000

Four Cities to flight non-stop from Panama City, FL

Southwest Airlines announced that it will fly directly to Orlando, Houston, Nashville and Baltimore from the new airport under construction.

The flights fare will start as low as $49 one way….

and there will be two flights a day from each destination. These low fares will force other airlines to reduce their fares to stay in the game. Southwest Airlines anticipate serving around 2,000 travelers a day.

These strategically chosen cities will provide semi-direct flights to Chicago, New York, Dallas and Ft. Lauderdale. Semi-direct flights mean that you will stop before arriving to your destination, but will not leave the plane. You can book your direct flight now at www.southwest.com.

Go to www.AtTheBeachDestin.com for things to do in Destin, FL

JohnMoran

Destin Short Sales Create Impressive Deals!

JohnMoran — Tue, 08 Dec 2009 18:00:17 +0000

See Destin Short Sales – Click on picture

If you could buy Destin Real Estate at $.45 Cents On The Dollar – Would You?

The people that bought this Destiny East House in Destin Florida did. The seller paid $915,000 for the home in 2005 and last month sold it as a Destin Short Sale for just $400,000! Amazing.

Are There More Deals Like This?

Absolutely!

If you are interested in Kelly Plantation Short Sales the deals are there. If you are interested in Regatta Bay Short Sales the deals are there. If you are interested in Holiday Isle Short Sales the deals are there. If you are interested in Crystal Beach Short Sales the deals are there. If you are interested in Destin Condo Short Sales, again the deals are there.

How Do I Find Them?

It’s easy. Simply click on the links above and from there you will be able to sign up for our FREE Short Sales Alerts with will email you every time a Destin Short Sale hits the market.

Anywhere Else?

Of course. Check out 30A Real Estate News for all the 30A Short Sales and the Panama City Beach Real Estate News for Panama City Beach Short Sales.

JohnMoran

Top Destination for 2010

JohnMoran — Sat, 05 Dec 2009 02:00:10 +0000

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.

“Seaside’s planned community is so “perfect” it was the setting for the The Truman Show, yet you’ll also find old-school Florida towns with funky shops, tiny hotels, pristine beaches, and the perfect cottage to rent.”

Read the entire article here

We know that, with the arrival of the new Northwest Florida Beaches International Airport in May of 2010, this area will be more accessible for everyone, specially because Southwest Airline is going to make flights more affordable.

Go to our website at www.AtTheBeachDestin.com for things to do in the Destin area and go to www.AtTheBeachFl.com for the South Walton Area. Want to live in one of the top Destinations? search for Destin Homes for Sale, Destin Condos For Sale, South Walton Homes For Sale and South Walton Condos For Sale.