These days I'm hearing more, and more about "Short Sale".What exactly is the definition for "Short Sale"? Read the following: Real Estate Short Sale Definition , and What does a Bank Approve, by: Rae Cantanese, Realtor.
Real Estate Short Sale Definition:
by Kofi Bofah, Demand Media, San Francisco Chronicle.
As a distressed homeowner, you may look to a short sale as a means to avoid foreclosure and further losses. As a buyer, you may evaluate short sales as opportunities to acquire affordable real estate. Third-party lenders, however, add an extra wrinkle to real estate short sale transactions, as they are motivated to maximize the selling price. Familiarize yourself with the terms and conditions of a short sale before exploring these deals as part of your own strategy.
Identification
Real estate short sales occur when a home is bought for less money than its total outstanding mortgage balance. The buyer, seller and lender must all agree to terms in a short sale. The bank is especially critical to this deal, because it must be willing to settle for less money than it is owed.
Features
Borrowers often arrange for short sales during preforeclosure. In preforeclosure, a homeowner has defaulted on the mortgage loan but has yet to be evicted. Mortgage loans fall into default after 30 days of missed payments. Following 180 days of missed payments, Investopedia says that lenders file a notice of trustee’s sale within the local newspaper. The notice of trustee’s sale announces a foreclosure auction sale, after which a homeowner is evicted. A professional appraiser is hired to value the home prior to the short sale. The appraiser should confirm that the home is actually worth less than its mortgage balance. Property values usually decline amid recession, when unemployment is high and real estate demand is weak.
Considerations
Compared to foreclosed properties, short-sale homes are in relatively good condition. In foreclosure, angry evictees may take out their frustrations on their former home and purposefully damage its walls, fixtures and appliances. After these people are evicted, the home could sit vacant for several months. At this time, neighborhood criminals may break into the property and strip it of valuable metal piping and electric wiring. During a short sale, however, the homeowner still resides at the property and is encouraged to make a good presentation to close the deal. Be advised that buyers may need to spend money on small repairs, because distressed homeowners often lack the financial resources to devote to general maintenance.
Benefits
Short sales allow banks and homeowners to avoid the time and expense of foreclosure deals. In foreclosure, banks spend money on eviction and court costs. Further, banks may be forced to offer significant price reductions to attract buyers to a foreclosed property. With a short sale, homeowners can guard against doing further damage to their credit profiles. According to Experian, a foreclosure will remain on a person’s credit report for seven years.
Warning
For buyers, short sales are inconvenient transactions. Buyers must consult with a complex network of homeowners, attorneys, real estate agents and bank officials. According to Investopedia, it may take several months for the bank to respond to an offer, if it responds at all. Banks and sellers, however, face opportunity cost risks. Opportunity costs describe foregone profits that may have materialized, if the home were to begin appreciating in value.
__________________________________________________________________________________
What Does a Bank Approved Short Sale Mean?
by Rae Catanese
in Selling Home as Short Sale, Short Sales Tampa
Great question from one of my buyers. Don’t be mislead when purchasing a short sale…
When a short sale says “Bank Approved” does that mean it is an easier process than a traditional short sale?
It could be a shorter process but there’s no guarantee. I always ask the Realtor to supply written documentation of the approved price. If they can’t, then I don’t believe the process will be any shorter. What happens is that the home had a contract at one time. The bank took so long to get back to the buyer that the buyer found something else and walked away from the deal. The only good news is that the Realtor will then at least know what the bank is willing to accept for the home and then they advertise that price as being “bank approved”. I’ve had bank approved short sales take 4 months to get a response because the approval price is only good for 30 days, or so. (depending on the bank)
It’s very misleading to the buyers to say a price has been approved by the bank. It may have been approved at one time…….but if you have to start the short sale process all over again what good is it?
Purchasing or selling a home as a short sale is a difficult process that requires in depth knowledge of our market here in Tampa. Whether you hire me or another Realtor to represent you, make sure you have someone to help guide you through the process. We are also seeing short sale scams that entail multiple buyers for the same property.
You may contact Char @ buyandsellwithchar@gmail,com, or Rae Cantanese, Realtors.
May 29, 2012
May 26, 2012
$5 Day Summer Savings
Lowry Park Zoo was voted #1 zoo in the United States. They have 1,700 animals on 60 acres of different habitats. They have educational shows, and informational exhibits. The zoo wanted to connect people with the living earth. Tampa's first zoo was established in the 1930s. It had a small collection of indigenous animals. It was first located in Plant Park. Then in 1957 it moved to Lowry Park. And their collection of animals have been increasing since 1970.
Ticket prices are:
$23.95 for adults
$21.95 for seniors (60+)
$18.95 for children ages 3-11
FREE for children ages 2 and under
-by Devin Duckett
May 23, 2012
Shocking Average Sale to Original List Price Ratio of Sold Homes
Properties for sale in the Greater Tampa Bay area are selling at over 90% of list price. But the media is saying that we are still in a sales slump. Nationally, maybe, but locally the story is a little different. This link will demonstrate graphically, from data collected from listed properties that were sold over the last year. It may surprise you! Check it out Average Sale to Original List Price Ratio | My Florida Regional MLS (MFRMLS)
May 22, 2012
More on Chinch bugs and Grasshoppers
Please read the following article from Florida Pest Control, and National Gardening Association:
BACKGROUND:
The common name ‘chinch bug’ comes from the Spanish word chinche, which means bug or pest. Chinche may also be used when referring to a bed bug.
Chinch bugs can be found throughout the United States, Southern Canada, Mexico and Central America. There are multiple species of chinch bugs that feed on turfgrasses and crop plants such as corn, sorghum and wheat.
In Florida, the southern chinch bug is a serious insect pest of St. Augustinegrass. Including sod replacement and treatments, their damage costs millions of dollars each year.
There’s an old southern saying, “Give a chinch an inch and they take a yard!”
It is said that specific varieties of St. Augustinegrass are resistant to attack by chinch bugs. When first introduced to the marketplace, that may’ve been the case. Over time, certain strains of chinch bugs have adapted and can damage these resistant cultivars, as well.
Chinch bug nymphs and adults feed by extracting plant fluids with their piercing-sucking mouthparts. They also inject a toxin when they feed that causes the grass to yellow, turn reddish brown and eventually die.
Heavy southern chinch bug infestations cause substantial damage to St. Augustinegrass that leads to dead, brown patches of turf. These areas may resemble drought or cold damage.
Chinch bug activity slows down temporarily with the colder winter temperatures found in North Central Florida and is year round in Florida’s southern region.
BEHAVIOR:
Chinch bugs like dry hot conditions, such as water stressed areas or areas with full sunlight. Oftentimes, chinch bug damage will first be noticed by sidewalks and driveways.
Although chinch bugs can fly, they rarely do so.
Natural predators of chinch bugs include parasitic wasps, big-eyed bugs, minute pirate bugs, earwigs, assassin bugs, fire ants and spiders.
Big-eyed bugs and minute pirate bugs look very similar to chinch bugs. As the common name implies, the big-eyed bug has large eyes. The adult minute pirate bug is roughly half the size of an adult chinch bug and has yellow markings on its wings.
Many insect pests of lawns, including chinch bugs, live in thatch. Thatch is the spongy layer of dead plant material found between the green tops of the grass and soil.
Proper mowing, watering and fertilization help to prevent thatch build-up. Aeration can also assist in the reduction of thatch by speeding up the breakdown of this dead organic matter.
Chinch bug infestations can be detected by parting the grass bordering a yellowing or dead area and examining the base of the turf and the soil surface for active chinch bugs. Immatures can be tougher to see due to their small size.
Another means of detection is the flotation method. Cut the ends out of a metal coffee can and insert the can 3 inches into the soil surrounding the discolored grass. Fill the can with water. The chinch bugs trapped in the can will float to the top of the water.
Grasshopper Tampa FL
Pest grasshoppers can be as large as 3" long. There are many species of grasshoppers in North America, and about 30 of these qualify as garden pests in Tampa. They are most damaging in the center of the continent in a band extending from Minnesota and Montana in the north to Texas and New Mexico in the south.
There are related: http://www.garlicbarrier.com/ and check out Musoum of Science and Industry (MOSI)
Kristen Gilpin's, "Tales from the Butterfly Garden: Lipidoptera Curious".
BACKGROUND:
The common name ‘chinch bug’ comes from the Spanish word chinche, which means bug or pest. Chinche may also be used when referring to a bed bug.
Chinch bugs can be found throughout the United States, Southern Canada, Mexico and Central America. There are multiple species of chinch bugs that feed on turfgrasses and crop plants such as corn, sorghum and wheat.
In Florida, the southern chinch bug is a serious insect pest of St. Augustinegrass. Including sod replacement and treatments, their damage costs millions of dollars each year.
There’s an old southern saying, “Give a chinch an inch and they take a yard!”
It is said that specific varieties of St. Augustinegrass are resistant to attack by chinch bugs. When first introduced to the marketplace, that may’ve been the case. Over time, certain strains of chinch bugs have adapted and can damage these resistant cultivars, as well.
Chinch bug nymphs and adults feed by extracting plant fluids with their piercing-sucking mouthparts. They also inject a toxin when they feed that causes the grass to yellow, turn reddish brown and eventually die.
Heavy southern chinch bug infestations cause substantial damage to St. Augustinegrass that leads to dead, brown patches of turf. These areas may resemble drought or cold damage.
Chinch bug activity slows down temporarily with the colder winter temperatures found in North Central Florida and is year round in Florida’s southern region.
BEHAVIOR:
Chinch bugs like dry hot conditions, such as water stressed areas or areas with full sunlight. Oftentimes, chinch bug damage will first be noticed by sidewalks and driveways.
Although chinch bugs can fly, they rarely do so.
Natural predators of chinch bugs include parasitic wasps, big-eyed bugs, minute pirate bugs, earwigs, assassin bugs, fire ants and spiders.
Big-eyed bugs and minute pirate bugs look very similar to chinch bugs. As the common name implies, the big-eyed bug has large eyes. The adult minute pirate bug is roughly half the size of an adult chinch bug and has yellow markings on its wings.
Many insect pests of lawns, including chinch bugs, live in thatch. Thatch is the spongy layer of dead plant material found between the green tops of the grass and soil.
Proper mowing, watering and fertilization help to prevent thatch build-up. Aeration can also assist in the reduction of thatch by speeding up the breakdown of this dead organic matter.
Chinch bug infestations can be detected by parting the grass bordering a yellowing or dead area and examining the base of the turf and the soil surface for active chinch bugs. Immatures can be tougher to see due to their small size.
Another means of detection is the flotation method. Cut the ends out of a metal coffee can and insert the can 3 inches into the soil surrounding the discolored grass. Fill the can with water. The chinch bugs trapped in the can will float to the top of the water.
Grasshopper Tampa FL
Pest grasshoppers can be as large as 3" long. There are many species of grasshoppers in North America, and about 30 of these qualify as garden pests in Tampa. They are most damaging in the center of the continent in a band extending from Minnesota and Montana in the north to Texas and New Mexico in the south.
There are related: http://www.garlicbarrier.com/ and check out Musoum of Science and Industry (MOSI)
Kristen Gilpin's, "Tales from the Butterfly Garden: Lipidoptera Curious".
Green Lawns, and green shrubs
Every summer I see Chinch bugs and Grasshoppers. "Chinch bugs" can change your green lawn to brown, and "Grasshoppers" can change your green shrubs to no schrubs. Read what Lawn & Landscape, Market Leadership has to say in their article dated May 22,2012 about "Chinch bugs".
Valent battles chinch bugs, Industry news - The bugs are becoming little fighters, but Valent has a new way to knock them out.
Chinch bugs are developing resistance to pyrethroid-based insecticides due to the chronic overuse of such products.
Dr. Eileen Buss, associate professor of turfgrass entomology at the University of Florida, says it’s important to first make sure you have chinch bugs, since damage caused by that pest can be misdiagnosed as scalping damage, herbicide damage, drought stress or even a dog “toilet” area.
To avoid a misdiagnosis, vacuum the affected area and, if chinch bugs are present, you’ll know it. “They’ll get caught in the filter and you can dump them in a bag,” Buss says.
The author is an associate editor at Lawn & Landscape. He can be reached at bhorn@gie.net You can read more @ lawnandlandscape.com.
The lubbers are here! Carrollwood-North Dalepatch, local voice - Lauren Shiner, March 19,2012.
These "cute" little black grasshoppers are a scourge. They grow up to be those 3" long golden, garden ravishing monsters. A biblical plague.
So, how do you get rid of them before they eat everything in sight?
Gardeners in the know use an organic natural remedy. A bacteria called nosema locustae attacks their gut after they eat it and it kills them. An added bonus is that they are cannabals, and when they feast on their dead, they are also infected with the bacteria and die. Nosema locustae does not affect bees or any other beneficial insects. Do not confuse it with the nosema that kills the bees the same way. Nosema ceranae kills the bees.
The only problem is that nosema locustae is hard to get, and the fact that it is hugely expensive. The good part is that after a few years of using it regularly, you greatly reduce the numbers of grasshoppers in the area.
A good plan is to gather a group together and buy in bulk, thus spreading the postage cost across several buyers. That is one of the reasons we started Green-Living-Tampa. We'll meet at Piccadilly in Carrollwood off north Dale Mabry at 6:30 p.m. on Tuesday, March 20. Grab a tray of food and join us.
Valent battles chinch bugs, Industry news - The bugs are becoming little fighters, but Valent has a new way to knock them out.
Chinch bugs are developing resistance to pyrethroid-based insecticides due to the chronic overuse of such products.
Dr. Eileen Buss, associate professor of turfgrass entomology at the University of Florida, says it’s important to first make sure you have chinch bugs, since damage caused by that pest can be misdiagnosed as scalping damage, herbicide damage, drought stress or even a dog “toilet” area.
To avoid a misdiagnosis, vacuum the affected area and, if chinch bugs are present, you’ll know it. “They’ll get caught in the filter and you can dump them in a bag,” Buss says.
The author is an associate editor at Lawn & Landscape. He can be reached at bhorn@gie.net You can read more @ lawnandlandscape.com.
The lubbers are here! Carrollwood-North Dalepatch, local voice - Lauren Shiner, March 19,2012.
These "cute" little black grasshoppers are a scourge. They grow up to be those 3" long golden, garden ravishing monsters. A biblical plague.
So, how do you get rid of them before they eat everything in sight?
Gardeners in the know use an organic natural remedy. A bacteria called nosema locustae attacks their gut after they eat it and it kills them. An added bonus is that they are cannabals, and when they feast on their dead, they are also infected with the bacteria and die. Nosema locustae does not affect bees or any other beneficial insects. Do not confuse it with the nosema that kills the bees the same way. Nosema ceranae kills the bees.
The only problem is that nosema locustae is hard to get, and the fact that it is hugely expensive. The good part is that after a few years of using it regularly, you greatly reduce the numbers of grasshoppers in the area.
A good plan is to gather a group together and buy in bulk, thus spreading the postage cost across several buyers. That is one of the reasons we started Green-Living-Tampa. We'll meet at Piccadilly in Carrollwood off north Dale Mabry at 6:30 p.m. on Tuesday, March 20. Grab a tray of food and join us.
May 17, 2012
Lawn Watering Restrictions in Hillsborough County
What is Reclaimed Water?
The Hillsborough County, Florida on line resource explained as follows:
About Reclaimed Water
Reclaimed water involves taking wastewater from treatment plants, giving it a high degree of treatment and using the resulting high quality water for a new beneficial use. Reclaimed water is delivered to homes and businesses through an underground distribution system entirely separate from the drinking water system.
Extensive treatment and disinfecting ensure that public health and environmental quality are protected. Reclaimed water must meet strict standards of quality established by the Florida Department of Environmental Protection. The reclaimed water system is monitored 24 hours a day by county personnel to ensure that consistent water quality standards are met. Physical contact with reclaimed water is not known to have any negative effects. However, reclaimed water should never be used for consumption or sanitary purposes.
There are lawn watering restrictions in Tampa, but if you have reclaimed water or access to reclaimed water there are no restrictions. Read what Green Solutions Lawn Care and Pest Control has to say..
Watering Restrictions:
Cities, counties, water management districts, and the state all have a say in how often you can water your lawn and landscape in the Tampa Florida area. Watering restrictions can change regularly, so make sure you reference your county and/or city restriction frequently. Below are links that may be helpful determining when you can water.
Reclaimed water offers less restrictive regulation. In many cases you can water as much as you like with a reclaimed water hookup. Unfortunately, not every area of town has access to reclaimed water. It might be worth looking into whether or not reclaimed water is available at your address. If you are in an area that offers access to reclaimed water, having it connected is as simple as hiring an irrigation contractor to connect you to the reclaimed line.
Although Green Solutions is not a licensed irrigation contractor, we have developed long-standing relationships with irrigation contractors that have been carefully vetted for professionalism and the skills necessary to install and service irrigation systems. In many cases we have already arranged for significant discounts or free consultations with these companies. Please call our office if you would like a referral.
The Hillsborough County, Florida on line resource explained as follows:
About Reclaimed Water
Reclaimed water involves taking wastewater from treatment plants, giving it a high degree of treatment and using the resulting high quality water for a new beneficial use. Reclaimed water is delivered to homes and businesses through an underground distribution system entirely separate from the drinking water system.
Extensive treatment and disinfecting ensure that public health and environmental quality are protected. Reclaimed water must meet strict standards of quality established by the Florida Department of Environmental Protection. The reclaimed water system is monitored 24 hours a day by county personnel to ensure that consistent water quality standards are met. Physical contact with reclaimed water is not known to have any negative effects. However, reclaimed water should never be used for consumption or sanitary purposes.
There are lawn watering restrictions in Tampa, but if you have reclaimed water or access to reclaimed water there are no restrictions. Read what Green Solutions Lawn Care and Pest Control has to say..
Watering Restrictions:
Cities, counties, water management districts, and the state all have a say in how often you can water your lawn and landscape in the Tampa Florida area. Watering restrictions can change regularly, so make sure you reference your county and/or city restriction frequently. Below are links that may be helpful determining when you can water.
Reclaimed water offers less restrictive regulation. In many cases you can water as much as you like with a reclaimed water hookup. Unfortunately, not every area of town has access to reclaimed water. It might be worth looking into whether or not reclaimed water is available at your address. If you are in an area that offers access to reclaimed water, having it connected is as simple as hiring an irrigation contractor to connect you to the reclaimed line.
Although Green Solutions is not a licensed irrigation contractor, we have developed long-standing relationships with irrigation contractors that have been carefully vetted for professionalism and the skills necessary to install and service irrigation systems. In many cases we have already arranged for significant discounts or free consultations with these companies. Please call our office if you would like a referral.
May 10, 2012
What are sink holes?
According to South West Florida Water Management District, a sinkhole can be defined as
depressions or holes in the land surface that occur throughout west-central Florida. They can be shallow or deep, small or large, but all are a result of the dissolving of the underlying limestone. Hydrologic conditions, including lack of rainfall, lowered water levels, or, conversely, excessive rainfall in a short period of time, can all contribute to sinkhole development. More facts about sinkholes can be found in the District’s. In the Tampa Bay area there are several communities well known for their sinkhole activity. However, recently the Tampa Bay Times reported an increase in sinkhole activity in an area that everyone thought could not have sinkholes. In January 2012 the Times reported the increase occurrances of sinkholes in St. Petersburg, FL Click here to read the full article.
depressions or holes in the land surface that occur throughout west-central Florida. They can be shallow or deep, small or large, but all are a result of the dissolving of the underlying limestone. Hydrologic conditions, including lack of rainfall, lowered water levels, or, conversely, excessive rainfall in a short period of time, can all contribute to sinkhole development. More facts about sinkholes can be found in the District’s. In the Tampa Bay area there are several communities well known for their sinkhole activity. However, recently the Tampa Bay Times reported an increase in sinkhole activity in an area that everyone thought could not have sinkholes. In January 2012 the Times reported the increase occurrances of sinkholes in St. Petersburg, FL Click here to read the full article.
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