by Sean Hess (www.SeanHess.com), broker and manager for St. Augustine Team Realty (www.StAugustineTeamRealty.com)
The asset-less, the credit-less, the income-less are now out in the market clamoring to be let in again.
But the days of the no-income, no-asset, no documentation loan are dead…because the result was massive foreclosures.
Enjoy the post!
by Sean Hess (www.SeanHess.com), Broker and Manager for St. Augustine Team Realty (www.StAugustineTeamRealty.com)
If you’ve ever wanted to build that expansive estate home in Palencia, now is the time to get the land to construct it on. We have two new short-sale listings in the Santa Teresa and Reserve sections of Palencia that will just blow you away.
601 Santa Teresa Ct, St. Augustine, FL
256 Vale Drive. Listed at $110,000, this lake-front lot in the exclusive Reserve section boasts over 16,000 square feet (.38 acres).
Palencia itself boasts shopping, a 33,000 Sq. Ft. Club house, golf, fitness center, miles of bike trails, soccer and baseball fields, jogging trails and parks. Bring your own builder but they must be approved by Palencia.
Call us for more details at (904) 825-0099.
by Sean Hess (www.SeanHess.com), Broker and Manager for St. Augustine Team Realty (www.StAugustineTeamRealty.com)
For our last post we did a synopsis of the $8000 first time buyer and $6500 repeat buyer tax credits, which expire on April 30.
So now you realize you need to get a home under contract by April 30, and close on it before July 1st, and the home of your dreams just happens to be a short sale.
Well, in the immortal words of Dirty Harry, “Do you feel lucky?”
A short sale home is one where the seller owes more than it is worth. When a buyer is secured, negotiations start with the lender or lenders to see if they would be willing to accept less than is owed on the house. From the time the purchase and sale contract is signed until the property closes usually takes a minimum of 120 days, or four months. Quite a few take longer. Very few take less.
So if you’re looking at taking the tax credit and close on a short sale by July 1, you’re taking a serious risk at missing the tax credit if the deal goes long.
Here’s some things to consider:
It’s your money, boss, spend it wisely.
by Sean Hess (www.SeanHess.com), Broker and Manager for St. Augustine Team Realty (www.StAugustineTeamRealty.com)
The $8000 new buyer tax credit and $6500 repeat buyer tax credit expires in 60 days (April 30)…so you better get in the market now if you want to take advantage of it! Here’s the need to know:
You must have a binding, written contract by April 30, but the deal can close as late as July 1.
First time buyers get a $8000 tax deduction, “repeat buyers” get a $6500 tax deduction. The tax credit can be applied to PRIMARY residences (not investments), that include townhomes, single-family homes and condos. To qualify as a first time buyer you cannot have owned a home three years prior to the purchase. To qualify as a repeat buyer you must have lived in your principal residence five of the last eight years…you do not have to sell your current residence but you do have to vacate it and make the purchase home your primary residence. This is an excellent deal if you were planning to turn your current home into a rental after you move.
If you want to buy a short sale and use the tax credit you run the risk of losing the credit. On average, it takes about 4 months (120 days) to successfully complete a short sale…some take longer. If you are counting on the tax credit, best just to buy a home that is not a short sale. However, since short sale homes can recognize significant savings, a short sale might actually put more money in your pocket than a straight sale with the tax credit, but that’s for you to decide.
There are income limits. The full credit is only available to persons with $125,000 ($225,000 joint filers) modified adjusted gross income. Those between $125,000 and $145,000 ($225,000 and $245,000 joint) modified adjusted gross income qualify for a reduced credit. Higher incomes do not qualify.
You can apply the credit to this year’s tax return if you file before April 15, or file an amended 2009 return. Otherwise you file it on your 2010 taxes.
I borrowed heavily from an excellent article in this month’s Realtor magazine to produce this piece.
Call St. Augustine Team Realty today to take advantage of this deal…maybe the only free money you will ever see from the government! You can call agents Suzie Hancock at (904) 521-2603 or Sondra Sparapani at (904) 209-8320, or call Ron, Kate or Sean at (904) 825-0099.
by Sean Hess (www.SeanHess.com), Broker and Manager for St. Augustine Team Realty (www.StAugustineTeamRealty.com)
A few months back I wrote a post saying the Moon May be Finally Setting on the Buyer’s Market. I believe that more now than ever.
Why?
Aside from an inventory in residential single-family homes that is steadily decreasing, it’s amatuerland out there in Buyersville and it feels soooooo normal market.
The last few years Buyers have been steely-eyed gunfighters. They make an offer, it’s either accepted or rejected, or countered, and whether the deal goes or doesn’t go is based on rational things like price and terms.
But now the chechakos are into the mix, the same as at the height of the boom market when a buyer once made a decision to skip signing a document in order to play bingo, and lost a house because of it.
Is it rational to reject a house because it has strawberry colored curtains in the breakfast nook? No…you can change the curtains! Is it rational to reject a home because you have to pay the first year’s insurance on it at closing? No…you have to do that for every home! Is it rational to make an offer on a home on the beach, and then cancel it because you have to buy flood insurance? No…that big, blue body of water out the front door might be an early indication that you will need flood insurance!
So the amatuers are out there, bless their hearts, and it feels normal again.
So, to recap:
The next question is how soon will it be before the Sellers start going to crazyland? We will know for sure when Seller From New York Threatens to Kill $250,000 Sale Over $1,325 Title Insurance Charge. It has happened. It will happen again.
by Sean Hess (www.SeanHess.com), broker and manager for St. Augustine Team Realty (www.StAugustineTeamRealty.com)
I just did a post on my personal site about how to avoid getting ripped off when you employ a contractor. I hope you enjoy it!
by Sean Hess (www.SeanHess.com), Broker and Manager for St. Augustine Team Realty (www.StAugustineTeamRealty.com)
Sitting here watching Olympic curling from Vancouver, it occurred to me that there might be a few people from the colder climates who might love a beachside condo in a warm climate, or one with a view of our historic lighthouse, or one where they can watch the boats sail by on the intracoastal. We’ve got some pretty amazing properties here…BTW, they are all what we call “EPIC Listings,” in that a sale of one of these will also benefit Big Brothers/Big Sisters of sunny and warm St. Augustine.
You can view all these condos right now on our EPIC Listings Page at www.StAugustineTeamRealty.com.
St. Augustine Ocean Front Condos
Atlantic East #201 (6170 A1A South). $565,000. Direct Oceanfront and posh, posh, posh! This romantic and elegant 3-bedroom corner flat boasts fireplace, wetbar, tiled balcony/patio, and breathtaking views of the ocean. Large, open living area with wood floors, carpeted dining area, and gourmet kitchen with granite counters and stainless appliances. This building is serviced by an elevator so no worries about climbing stairs. The community includes pool, private beach access.
The Beach at Sea Place in St. Augustine
Sea Place #11206 (1733 Sea Fair).
$409,500. With over $22,000 in rental bookings over a calendar year, this rarely available DIRECT OCEANFRONT townhome at Sea Place is a money maker! Watch the sunrise with breathtaking panoramic views of the ocean from two balconies. The beach is just steps away via a private walkover. Sea Place includes 2 pools, tennis, racquetball, and a clubhouse. Sold fully furnished, this unit includes everything you need to move in or to rent, including all appliances.
St. Augustine Ocean View Condos
Summerhouse Unit 320 (8550 A1A South). $349,900. The ocean views from every room of this townhome will leave your friends and family impressed! Relax on the balcony or just enjoy the spacious living areas, tastefully decorated and fully furnished inside with bonus views of the Intracoastal from the kitchen. Outside enjoy the 25 acre grounds with easy beach access, plenty of green space for kids to run, and four heated pools.
Spyglass Unit 14 + GARAGE (8200 A1A South). $299,000. If a beach, salt water and peace is what you crave then you’ve come to the right place. This wonderful condo at the ocean includes ocean and Intracoastal views, a spacious living area, comfortable bedrooms, and the soothing sounds of the surf just steps away. This tri-level condo will be your getaway in St. Augustine for years to come. This home even includes a 2-car tandem garage for parking and/or storage. Even the pool is just steps away…who could ask for more!
Ocean Villas Unit 12 (850 A1A Beach Blvd). $289,017. Enjoy spectacular ocean views in this immaculate townhouse condo! The two ocean view balconies are the true highlights for owners and guests. The dining area is ready for casual or more formal dining. Generous seating space is provided in the living area for you to relax. The open floor plan includes a spacious master bedroom with his and her closets. Beach access is provided via a private walkover or just relax by the pool. Sold fully furnished with all appliances so you can move right in!
Sea Place Unit 14254 (1733 Sea Fair). $289,000. The beach and pool are just steps away, but you’ll step away without paying a hefty ocean front price! Sea Place includes a private and gated beach walkover, tennis, racquetball, a clubhouse and two pools. This unit is sold fully furnished, and includes everything you need to move in or to rent, including all appliances. Good ocean views from two patio/balconies, especially at the top level. Everything is in top notch shape so move right in!
St. Augustine Ocean Front Community
95 Village Del Lago (Ocean Gallery). $249,900. This 2-bedroom/2-bath condo is sold fully furnished and could be a great rental investment in popular Ocean Gallery. Situated close by the village pool (indoor/outdoor heated pool with spa), this condo is a corner unit in great condition with a screened porch overlooking the popular Del Lago lagoon. Great amenities in this condo complex included heated indoor and outdoor pool, hot tub, exercise room, clubhouse, tennis, racquetball, playground, and private beach access. Ocean Gallery is a gated community with 24hr. security.
St. Augustine Lighthouse View Condos
Anastasia Townhomes Unit C-16 + GARAGE (825 Anastasia Blvd). $129,900. Not a short sale! Not a rehab! No work to do at all just move right in! And what a location…just minutes to the beaches and with a view of the historic St. Augustine Lighthouse! At $71 a square foot compare it to ANYTHING else. This 3 bedroom townhome is in great condition, & includes a one-car garage, computer area, and all appliances. There is a screened porch and upstairs balcony.
St. Augustine Intracoastal (ICW) Front Condos
A sailboat moored at Conquistador Condos in St. Augustine, Florida.
43 Veronese Court (Conquistador Condos).
$119,900. Intracoastal front condo…an amazing view…watch the boats sail by! In wonderful condition with all appliances. Community pier on the Intracoastal Waterway. Clubhouse and playground is a short distance away. Heated pool & tennis on grounds. First floor convenience. Majestic oak trees. Enjoy the serene and peaceful view. Ready for IMMEDIATE OCCUPANCY!
St. Augustine ICW Front Community
38 Tarragona Court (Conquistador Condos). $79,990. Easy living! This comfortable 2nd floor corner unit is in wonderful condition with all appliances (the refrigerator, dishwasher, and stove are new and have never been used). The living areas and kitchen are completely tiled, with new carpet in both bedrooms. There is a community pier on the Intracoastal Waterway, a clubhouse and a playground just a short distance away. Heated pool & tennis on grounds. This unit is move-in ready for immediate occupancy.
Last of all, don’t forget St. Augustine Team Realty is offering its full-service listing package to First Responders/Law Enforcement/Emergency Room Staff/Lifeguards/Fire/EMT’s, etc., right now for just 4.5% (a savings of $3000 on the average sale). But you have to list with us by or before February 28th. Having spent some time in the ER this week with a wayward 3-year old, I can’t say it enough…thanks for all you do, we love you!
by Sean Hess (www.SeanHess.com), Broker and Manager for St. Augustine Team Realty (www.StAugustineTeamRealty.com)
First of all, don’t forget St. Augustine Team Realty is offering its full-service listing package to First Responders/Law Enforcement/EMT’s, etc., right now for just 4.5% (a savings of $3000 on the average sale). But you have to list with us by or before February 28th. Thanks for all you do, First Responders, we love you!
I just did a post for my personal website on what to do when your Rookie Real Estate Agent calls you “Client.” SLAP…wait, don’t slap him, just give him the what-for. Read the post to see why, and I hope you enjoy it!
by Sean Hess (www.SeanHess.com), Broker and Manager for St. Augustine Team Realty (www.StAugustineTeamRealty.com)
Having a blog and doing so much of our communication via e-mail, we are constantly battling spam. Spam about cheap credit fixes, bulk REO investing, overseas prescription drugs…the list goes on an on.
Then I thought, “Wait, a minute, I’m going about this all wrong.” These spammers, they’re successful aren’t they? Maybe our advertising could use some tweaks spam-style.
Here’s some of our current ad copy for our three sales plans:
“With three sales plans, flexible pricing, and multiple marketing options we have something to fit every seller’s needs. Our plans start at 4.0% (1.5%/2.5% split), a savings of $4000 off of the average local home sale. All three of our plans include full support from contract to closing, including helping you negotiate the offer, arranging financing, and monitoring surveys, inspections and title work. Best of all, all of our listings are backed by the Easy Exit Guarantee, which means there is no cost to cancel the listing at any time prior to offer. We also offer special, reduced rates for widows or widowers, and for orphans who are age 25 or under. Please contact us to find out more.”
BORING!
Now, here’s the some new copy I came up with, with a nod to my spammer friends:
“As St. Augustine housing experts, we from been using interweb for a sustained fix conditions and know how to harness the enormous power of interweb and go off it into a Cash machine.
“We also provide the cheapest commission prices on the market. Numberless competitors see fit order 2x or temperate 3x and a lot of the opportunity 5x what we charge you.
“But we believe in providing gigantic service at a low affordable rate.
“The whole something of purchasing St. Augustine housing is because it is a cheaper variant to buying housing. So we aim to support that contemplating in mind and outfit you with the cheapest housing rate possible.
“Not just do we cause the greatest prices but our turnaround occasion for your closing is super fast. We intention take your closing done ahead of you know it.”
I beta tested this on my personal website last week and the response was overwhelming:
Xex, a spammer from Malaysia wrote:
“I admit, I have not been on this website in a long time… but it was another enjoy to see It is such great topic and avoided by so many, even professionals. I thank you to advice making people more informed of possible problems.”
(This got us a listing as well, but instead of taking the usual real estate commission, Xex wanted to pay us will stolen credit card numbers and generic viagara. Instead we insisted on payment in regular currency, and he agreed to pay us 5000 malaysian ringets, which must be worth a lot. These spammers have an economy all thier own…you have to get up pretty early in the morning to fool us!)
MatchGame@CharlesNelsonReilly.com gushed:
“This is a serious blog and I like reading it every morning recriminate you
suitable sharing it! Show one’s gratitude you as a service to the wonderful information.”
And Sergie, a payday loan spammer from Moscow said:
“I enjoyed the article and thanks recompense posting such valuable inside story after all of us to rack up, I drop up it both advantageous and educational and I method to stockpile from it as again as I can.”
As you can see, a little outside the box spam thinking can do wonders in real estate.