TOP 10 DEFECTS IN HOME INSPECTIONS

One of my favorite inspectors put a list together of the 10 most common problems discovered found during home inspections.  If you are thinking of selling your home a pre-inspection is smart!  You can deal with the problems you have before a future buyer beats you up on the list price.  Here they are:

Top 10 Defects Per AAA Building & Home Inspection

• Roofing leaks, vent pipe's and skylights damaged
• Exterior walls, foundation cracks and defective hardboard siding this is a moisture and installation related defect. Common brands of siding are Florida Pacific, Louisiana Pacific, and Masonite
• Water damage in attic and uneven insulation
• Defective ground fault circuit breaker interrupter outlets in bathrooms, kitchen, garage, and outside
• Visible open wire connections in the crawl space and attic
• Leaking or loosely mounted toilets, tubs not draining, hot and cold reversed at tub and shower controls
• Heating system not function as intended, Mold on coils and filter dirty or missing
• Air condition system not cooling proper, missing insulation on freon line and thermostat broken
• Fireplace damper not working or fire bricks damaged
• Smoke alarms not working or need batteries

Anne-Marie Ferraro, REALTOR®
SHORT SALE SPECIALIST

Watson Realty Corp.
1445 West State Road 434, Suite 100
Longwood, FL 32750
407-622-8531 Direct Line
407-493-0719 Cell *** I TEXT***

407-767-5989 Fax
800-943-6444 Ext. 8531
amferraro@watsonrealtycorp.com
www.anne-marieferraro.com
"You're Home Free With Anne-Marie!"

 

Check out our website at www.WatsonRealtyCorp.com

This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to which it is addressed. If you have received this email in error please delete it and notify the originator of the message. This footer also confirms that this email message has been scanned for the presence of viruses and offensive material, but Watson Realty Corp. does not guarantee or accept any liability that may be caused by any viruses.

3 IMPORTANT THINGS A HOMEOWNER SHOULD KNOW ABOUT SHORT SALES

Market Value Matters

Short sales sell for market value.  That’s right.  A bank will typically agree to a short sale if the numbers make sense.  Banks understand that homes need to appraise.  Banks also need to mitigate their loss.

Listing a home for well below market value is not the best strategy for getting a short sale accepted.  Sure, you may get plenty of offers, but if the bank won’t accept any of them you end up having wasted a ton of  energy, not to mention paper, and facing quite a few angry potential buyers.

Banks are no longer in the business of giving away houses.  If you send the bank numbers that make sense, you increase your likelihood of a successful short sale closing by 90%.

Only Real Hardships Get the Help

I’ve lost count of the number of times potential sellers have told me the only reason they are pursuing a short sale is because everyone else is doing it. Purchasing a house during the housing boom is not a legitimate hardship.  Purchasing a house during the housing boom and being unable to pay your mortgage is a hardship.

Strategic default is never a good idea! Banks actually analyze short sale sellers’ hardships, and most center on the economy, so the bank is going to make sure that a short sale is in their own best interest.  Acceptable hardships include medical issues, divorce, and disability, significant loss of income, death, unemployment, and relocation.

Laws are local

It’s important to know your state’s foreclosure laws because there are currently no national short sale laws on the books.  There are federal guidelines, but they can be applied when and how a bank wants.

States, however, can either have recourse loans or non-recourse loans.  A recourse loan allows the bank to demand a borrower pay the difference between what the properties are sold for and what is owed on the lien.  Many recourse states allow lien holders (banks) to pursue judgment liens against the borrower for the deficiency amount.  This process allows the bank to garnish a borrower’s wages until the debt is paid off.  Garnishments can be as much as 25% of non-exempt disposable earnings, and bankruptcy doesn’t always save a defaulted borrower from judgment liens.

Real estate agents are not allowed to practice law, unless they are actually licensed to do so. However, agents do need to be aware of possible penalties for short selling a home and also be able to direct their clients to the right resources to discuss the possible consequences and solutions.

I have been involved in Short Sales since March of 2007.  Call me if you need assistance in marketing your home as a short sale.

 

Anne-Marie Ferraro, REALTOR®
SHORT SALE SPECIALIST

Watson Realty Corp.
1445 West State Road 434, Suite 100
Longwood, FL 32750
407-622-8531 Direct Line
407-493-0719 Cell *** I TEXT***

407-767-5989 Fax
800-943-6444 Ext. 8531
amferraro@watsonrealtycorp.com
www.anne-marieferraro.com
"You're Home Free With Anne-Marie!"

 

Check out our website at www.WatsonRealtyCorp.com

This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to which it is addressed. If you have received this email in error please delete it and notify the originator of the message. This footer also confirms that this email message has been scanned for the presence of viruses and offensive material, but Watson Realty Corp. does not guarantee or accept any liability that may be caused by any viruses.

Longwood Homes for Sale!

If you have a loved one who owns a home in Longwood, Altamonte Springs or any close by city in the Central Florida area that needs help with getting the home sold, call me.  I have been in the Central Florida area since July of 1991.  I have experience with getting homes sold even in today’s tough market.  It makes sense to list your home with an experienced realtor as well as one that lives close by to be able to properly service your loved one.

 

Anne-Marie Ferraro, REALTOR®
SHORT SALE SPECIALIST

Watson Realty Corp.
1445 West State Road 434, Suite 100
Longwood, FL 32750
407-622-8531 Direct Line
407-493-0719 Cell *** I TEXT***

407-767-5989 Fax
800-943-6444 Ext. 8531
amferraro@watsonrealtycorp.com
www.anne-marieferraro.com
"You're Home Free With Anne-Marie!"

 

Check out our website at www.WatsonRealtyCorp.com

This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to which it is addressed. If you have received this email in error please delete it and notify the originator of the message. This footer also confirms that this email message has been scanned for the presence of viruses and offensive material, but Watson Realty Corp. does not guarantee or accept any liability that may be caused by any viruses.

Fall 2011 Market

Believe it or not, we are still selling houses in this slow market.  If you have great credit you could find and interest rate at 3% or below!  The combination of that and low purchase prices have truly made this market more affordable than paying rent!  What are you waiting for!  There are some nice houses out there today!  Call me if you are in the Central Florida area or looking to move to the area!

 

Anne-Marie Ferraro, REALTOR®
SHORT SALE SPECIALIST

Watson Realty Corp.
1445 West State Road 434, Suite 100
Longwood, FL 32750
407-622-8531 Direct Line
407-493-0719 Cell *** I TEXT***

407-767-5989 Fax
800-943-6444 Ext. 8531
amferraro@watsonrealtycorp.com
www.anne-marieferraro.com
"You're Home Free With Anne-Marie!"

 

Check out our website at www.WatsonRealtyCorp.com

This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to which it is addressed. If you have received this email in error please delete it and notify the originator of the message. This footer also confirms that this email message has been scanned for the presence of viruses and offensive material, but Watson Realty Corp. does not guarantee or accept any liability that may be caused by any viruses.

Pool Owners: Be Prepared to Pay!

This is good information on the costs and benefits of having a pool:

 

The water temperature may be just right, but the cost of buying and operating a pool is scalding.

Anyone who contemplates owning a pool should expect it to cost at least $3,000 a year, or $5,000 if they turn the job of maintaining it over to a pool service, estimates Susan Elser, a certified financial planner in Indianapolis.

Installing a pool along with the required extras like a high fence costs at least $25,000 and probably $50,000 is a better estimate. And in most parts of the country, it isn’t likely that pool owners will get their money back when they sell.

"I question whether it adds anything to the [sale price]," says Ed Rose, a financial planner at Bayside Wealth Management in Pensacola, Fla. "It may contribute something, but you'll never get your money out of it on the resale."

Source: The Wall Street Journal, Brett Arends (08/11/2010)

 

 

Anne-Marie Ferraro, REALTOR®
Watson Realty Corp.
1445 West State Road 434, Suite 100
Longwood, FL 32750
407-622-8531 Direct Line
407-493-0719 Cell
800-943-6444 Ext. 131
amferraro@watsonrealtycorp.com
www.anne-marieferraro.com
"You're Home Free With Anne-Marie!" 

 

Check out our website at www.WatsonRealtyCorp.com

This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to which it is addressed. If you have received this email in error please delete it and notify the originator of the message. This footer also confirms that this email message has been scanned for the presence of viruses and offensive material, but Watson Realty Corp. does not guarantee or accept any liability that may be caused by any viruses.

Deeds-in-Lieu

Thanks to new federal programs that offer cash incentives, some lenders are turning to deeds-in-lieu as the best solution for underwater borrowers, who are willing to turn over their properties.

It’s cheaper for lenders to do deeds-in-lieu because it gives them overnight control of the property. With mortgage rates at less than 5 percent, lenders believe that they can resell a property faster and on more favorable terms than they would going through a short sale.

 

Bank of America is offering cash incentives that range from $3,000 to $15,000 to persuade trouble borrowers to sign on.

 

Deeds-in-lieu don’t harm a borrower's credit rating as much as a foreclosure or a bankruptcy, but because they are treated as debts that are “not paid as agreed,” they do leave a mark.

 

Anne-Marie Ferraro, REALTOR®
Watson Realty Corp.
1445 West State Road 434, Suite 100
Longwood, FL 32750
407-622-8531 Direct Line
407-493-0719 Cell
800-943-6444 Ext. 131
amferraro@watsonrealtycorp.com
www.anne-marieferraro.com
"You're Home Free With Anne-Marie!" 

 

Check out our website at www.WatsonRealtyCorp.com

This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to which it is addressed. If you have received this email in error please delete it and notify the originator of the message. This footer also confirms that this email message has been scanned for the presence of viruses and offensive material, but Watson Realty Corp. does not guarantee or accept any liability that may be caused by any viruses.

School Begins August 16th

School in Florida always starts sometime in August.  This year school starts August 16^th. 

 

This year Florida will have the Sales Tax holiday.  These have gained in popularity in recent years, in part because of the economy but mostly because everyone wants to get a good deal, and more and more states are starting to get in the fun.  I have information on what Florida gives you a tax breakon but if you ever have a question, the employees of the stores know what it applies to.

 

Florida will be having their tax break holiday on August 13-15.  This applies to books, clothing and footwear <$50 and school supplies <$10.

Get out there that week and enjoy a little more change in your pockets!

 

Anne-Marie Ferraro, REALTOR®
Watson Realty Corp.
1445 West State Road 434, Suite 100
Longwood, FL 32750
407-622-8531 Direct Line
407-493-0719 Cell
800-943-6444 Ext. 131
amferraro@watsonrealtycorp.com
www.anne-marieferraro.com
"You're Home Free With Anne-Marie!" 

 

Check out our website at www.WatsonRealtyCorp.com

This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to which it is addressed. If you have received this email in error please delete it and notify the originator of the message. This footer also confirms that this email message has been scanned for the presence of viruses and offensive material, but Watson Realty Corp. does not guarantee or accept any liability that may be caused by any viruses.

FORECLOSURES!!!

WOW!  The deals that are out there in today’s market are unbelievable!  Just three years ago one of my buyers purchased a 3 bedroom home in a lovely neighborhood in Orlando for $190,000.  That was a deal back then!  Today, in the same neighborhood there is a 4 bedroom foreclosure for $100,000!!!

 

Folks!  You are missing the boat if you are not out there looking for a home!  The inventory is extraordinary!

 

Anne-Marie Ferraro, REALTOR®
Watson Realty Corp.
1445 West State Road 434, Suite 100
Longwood, FL 32750
407-622-8531 Direct Line
407-493-0719 Cell
800-943-6444 Ext. 131
amferraro@watsonrealtycorp.com
www.anne-marieferraro.com
"You're Home Free With Anne-Marie!" 

 

Check out our website at www.WatsonRealtyCorp.com

This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to which it is addressed. If you have received this email in error please delete it and notify the originator of the message. This footer also confirms that this email message has been scanned for the presence of viruses and offensive material, but Watson Realty Corp. does not guarantee or accept any liability that may be caused by any viruses.

Short Sales

Short Sales!  Can be considered two of the worst words you have ever heard if you were part of one of these transactions.  They are tedious, time-consuming and sometimes just don’t pan out!  But, on the flip side, the buyer of one of these homes can find a deal of the century in today’s market!  I have been involved in the short sale of both listings and sales since March of 2007.  So many of my sellers have been able to get out of the hole and start a new life!  My buyers have all bought homes that they never could have dreamed of owning just a few short years ago!

 

If you are a seller or buyer and would like to know about the process I would be happy to explain.

 

Anne-Marie Ferraro, REALTOR®
Watson Realty Corp.
1445 West State Road 434, Suite 100
Longwood, FL 32750
407-622-8531 Direct Line
407-493-0719 Cell
800-943-6444 Ext. 131
amferraro@watsonrealtycorp.com
www.anne-marieferraro.com
"You're Home Free With Anne-Marie!" 

 

Check out our website at www.WatsonRealtyCorp.com

This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to which it is addressed. If you have received this email in error please delete it and notify the originator of the message. This footer also confirms that this email message has been scanned for the presence of viruses and offensive material, but Watson Realty Corp. does not guarantee or accept any liability that may be caused by any viruses.

Disney Luxury Home Plans!

I was so surprised to hear this announcement on the radio this morning!  This is great news for the luxury home buyers out there!  Call me if you are interested in this new community!  Read this news release!

 

Walt Disney Co. announced plans Wednesday to develop and sell vacation homes near Orlando’s Walt Disney World. The homes will be priced between $1.5 million and $8 million. In announcing the development, Disney said the luxury home market is recovering.

The proposed 980-acre Golden Oak development will include two golf courses, 450 homes and a 445-room Four Seasons hotel, as well as a clubhouse, pedestrian walkways, and a nature preserve. The first homes are expected to be completed in 2011.

Lots will range from a quarter to three-quarters of an acre. Buyers may choose their own architects, but Disney will supply the builders and require buyers to choose from a limited number of exterior building materials and architectural styles.

Buyers interested in the first lots must deposit $25,000 to be placed on a reservation list.

Source: The Wall Street Journal, Juliet Chung (06/23/2010)

 

Anne-Marie Ferraro, REALTOR®
Watson Realty Corp.
1445 West State Road 434, Suite 100
Longwood, FL 32750
407-622-8531 Direct Line
407-493-0719 Cell
800-943-6444 Ext. 131
amferraro@watsonrealtycorp.com
www.anne-marieferraro.com
"You're Home Free With Anne-Marie!" 

 

Check out our website at www.WatsonRealtyCorp.com

This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to which it is addressed. If you have received this email in error please delete it and notify the originator of the message. This footer also confirms that this email message has been scanned for the presence of viruses and offensive material, but Watson Realty Corp. does not guarantee or accept any liability that may be caused by any viruses.

$8,000 Tax Credit is over BUT the deals are out here!

With the prices of homes today who needs the $8,000 anyway!  I am flabbergasted at the purchase price of the homes my buyers have purchased this year!  Homes that were once worth a million are selling for under $600.000!  Just yesterday I looked through the MLS to discover the deals that are out there.  I have a buyer who is relocating to Central Florida soon.  He was so surprised when he opened the links I sent to him.  He couldn’t believe what he can get for his money!  Don’t miss out!  Just as the once heated market came crashing down this market will also disappear!

 

Anne-Marie Ferraro, REALTOR®
Watson Realty Corp.
1445 West State Road 434, Suite 100
Longwood, FL 32750
407-622-8531 Direct Line
407-493-0719 Cell
800-943-6444 Ext. 131
amferraro@watsonrealtycorp.com
www.anne-marieferraro.com
"You're Home Free With Anne-Marie!" 

 

Check out our website at www.WatsonRealtyCorp.com

This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to which it is addressed. If you have received this email in error please delete it and notify the originator of the message. This footer also confirms that this email message has been scanned for the presence of viruses and offensive material, but Watson Realty Corp. does not guarantee or accept any liability that may be caused by any viruses.

LOWEST INTEREST RATES SINCE 1964!

Buyers!  It is time to come out and buy a home!  The inventory is bountiful!  The interest rates are the lowest they have been since 1964!!!  Take advantage of these low rates now!  I am a full time professional who would be happy to help you find a home to live in, an investment home or a second home!  Don’t miss out!  Who knows when we will see the rates this low again!

 

Anne-Marie Ferraro, REALTOR®
Watson Realty Corp.
1445 West State Road 434, Suite 100
Longwood, FL 32750
407-622-8531 Direct Line
407-493-0719 Cell
800-943-6444 Ext. 131
amferraro@watsonrealtycorp.com
www.anne-marieferraro.com
"You're Home Free With Anne-Marie!" 

 

Check out our website at www.WatsonRealtyCorp.com

This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to which it is addressed. If you have received this email in error please delete it and notify the originator of the message. This footer also confirms that this email message has been scanned for the presence of viruses and offensive material, but Watson Realty Corp. does not guarantee or accept any liability that may be caused by any viruses.

Oil Catastrophe in the Gulf!

It has been two months since the explosion in the gulf.  It is a catastrophe for our entire nation but my thoughts are especially with the everyday American family who makes their living from our beautiful gulf.  Being a resident of Florida since 1991 I am frightened for what it may do to our state especially.  So much of our economy will be greatly affected if we don’t solve this problem now!  This will trickle down to our real estate market which is already in a low place.  I have seen several people on TV talk about their solutions including actor Kevin Costner.  I truly hope that BP and our government really listens to all of the possible solutions so that we can once again have pristine waters and famlies back to work.

 

Anne-Marie Ferraro, REALTOR®
Watson Realty Corp.
1445 West State Road 434, Suite 100
Longwood, FL 32750
407-622-8531 Direct Line
407-493-0719 Cell
800-943-6444 Ext. 131
amferraro@watsonrealtycorp.com
www.anne-marieferraro.com
"You're Home Free With Anne-Marie!" 

 

Check out our website at www.WatsonRealtyCorp.com

This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to which it is addressed. If you have received this email in error please delete it and notify the originator of the message. This footer also confirms that this email message has been scanned for the presence of viruses and offensive material, but Watson Realty Corp. does not guarantee or accept any liability that may be caused by any viruses.