It seems that more and more people are getting excited about being on the winning end of the foreclosure crisis. Even though they are great deals customers sometimes are frustrated with the amount of red tape we have to go through and the fact that we have to do it the banks way. The game has changed in Real estate and navigating short sales and foreclosures requires a little study so I thought I would share a few foreclosure cliff notes with you.
We are definitely seeing a return to volatility in mortgage rates as a see-sawing stock market has made for fickle demand for bonds. While sitting near record lows for several weeks rates bounced back up by late last week and were approaching 5.375% on the conforming thirty-year, fixed-rate on Monday before settling back to 5.25% on Tuesday. Some of the pressure on rates can be attributed to the huge government bond auction this week that will push the nation’s overall debt to near its debt ceiling of just over $12 trillion. The $123 billion in government securities creates additional supply yet, so far, it appears there is still adequate demand to absorb the new debt which has allowed rates to ease somewhat. I believe we will continue to see this return to volatility in both bonds and equities as investors become less convinced that this year’s rally in stocks will continue.
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This beautiful like-new condo for sale in the highly coveted private community of Carillon is a true lake-front, Gulf-view gem. When you walk into the huge foyer with tall curved walls you are overwhelmed with a sense of beachy luxury that just makes you want to take your shoes off and enjoy the good life. The architectural flare is not overwhelming, but it is rich – everything feels solid – and expensive. With granite surfaces throughout and rooms large enough to serve any purpose you can dream of, no sacrifices need be made to upgrade to this palatial low-rise condominium.
Of course, as with everything at the beach, it’s all about the view. One of the things that was not overlooked was the need for an oversized balcony overlooking Lake Carillon, Carillon architecture and the emerald green clear waters of the Gulf of Mexico. When you have views like this, you’ll want to be on the balcony as often as possible and this one is the size of a living room with plenty of room for furniture.
The interior appurtenances feature high-end appliances which include a Wolf oven, stainless steel GE refrigerator and microwave, a wine cooler, bread warmer, ice machine and wet bar. With solid hard-wood flooring in all the living areas and soft carpet in the bedrooms, this condo is made for living in. Of course, you can’t overlook the immensely over-sized master bedroom. The master bath is oversized with a stand-up shower (with bench) and a jacuzzi tub. But, you have to watch the video to truly feel how great of deal this condo is.
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This week’s features:
- Deal 1 – 3,200 SF home in Palm Bay, Nice, less than $100/sf
- Deal 2 – Super Cute Lyndell Plantation Home only $225k
- Deal 3 – Super Hot Deals in Wild Heron Open House This Weekend
The Beach Show is your ONLY internet TV show all about Real Estate on Panama City Beach.
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Click the “more” tag for show notes.
There have been more questions than answers this week. Among other, people have asked: What do those zeroed out items mean in a contract and are you sure you can not take multiple offers on a short sale??? Since we do not have time enough to answer the first one lets talk about some more questions that I continue to get about Short sales. All of my customers and myself agree that the short sale is certainly not a short process and there continues to be so much confusion on how to handle them between the buyer and the seller. Read more
Mortgage rates remain low again this week helped out by reemerging doubts about the stock rally and economy as a whole. The benchmark thirty-year, fixed-rate stands just above 5% with no points and the fifteen year is just below 4.50%. While paying a point was buying a full ½% discount to the rate in the first quarter of the year, that premium has narrowed significantly and a point today is only buying a 1/4% rate improvement.
This week’s features:
- Deal 1 – 3/2 in Palmetto Trace only $152/sf
- Deal 2 – 2/2 Townhome in Beach Community only $99k
- Deal 3 – Huge Home in Colony Club only $132/sf
The Beach Show is your ONLY internet TV show all about Real Estate on Panama City Beach.
Download the podcast
Remember, it doesn’t cost anything to work with us if you are a buyer.
Click the “more” tag for show notes and pictures.
Call us at 850-527-5651 to see these properties or for anything else you need regarding real estate in Panama City Beach.
Last week we addressed the Wind Mitigation inspection and how you could save some bucks on your home owners insurance. Since space would not allow I only gave a brief introduction to what was involved and how it resulted in savings for you. This week we are going to go a little deeper and answer some other questions you may have about the Uniform Mitigation Verification Inspection form. Again, please consult an expert that can help you as I have borrowed this information from an article written by John Staab a licensed inspector as well as the web site of Richard Pickle inspector in the Orlando Area.
I will be the first to agree that the mortgage industry was extremely under-regulated for years and feel that lack of oversight, among other things, was largely responsible for the collapse of the housing market and subsequent financial crisis we now find ourselves in. But two of the most significant changes we’ve seen in years, both designed to protect consumers and reign in unscrupulous lenders, have done more to hamper the housing recovery than provide better consumer protections.
This week’s features:
- Deal 1 – 4/3 Gulf-Front Condo in Majestic only $399.9k
- Deal 2 – Huge 2,700 SF Home in The Glades only $119 per foot
- Deal 3 – Tapestry Park! Super Cute Home, Crazy Master Bath only $314.9k
The Beach Show is your ONLY internet TV show all about Real Estate on Panama City Beach.
Download the podcast
Remember, it doesn’t cost anything to work with us if you are a buyer.
Click the “more” tag for show notes and pictures.
Call us at 850-527-5651 to see these properties or for anything else you need regarding real estate in Panama City Beach.
