Innovative Realty Solutions Group, Inc.

This is great news (Davenport/Kissimmee) for anyone who was on the fence about listing thier property as a short sale! With patience and the correct Realtor your home can selll just like these!

This wonderful and spacious 4 bedroom 2 bath home is waiting for it's new owner.

Short-sale,Beautiful 4 bedroom, 2 bathroom home.This home has a screened in porch in rear and sits in a golf course community with a community pool. HOA fees are one of the lowest around for such a great community. This home is priced to move and is great for a first time home buyer or investment property. New upgraded roof and exterior of home was painted less then 2 years ago. Make this home yours today. 

Open house this Saturday September 26,2009 from 10-1, see you there.

THIS IS THE BEST TIME TO BUY OR INVEST IN REAL ESTATE!

Yvonne Long

Innovative Realty Solutions Group, Inc.

#321-217-4321

yvonnel.long@gmail.com

Read an article today,  http://rismedia.com/2009-09-16/treasury-says-millions-more-in-foreclosures-are-coming-are-you-ready/, this article was very interesting and informative.  For those Realtor and real estate agents who do not like dealing with foreclosures, short sales and bank owned properties, I believe this article will be a real eye opener.

The article has some great advice on how we can make a living and help buyers find a deal either a foreclosure, bank owned or short sale, and sellers out of a stressful situation.  The article was a good read, thought I would pass it along.

Well the year is almost over, school has started back, the winter holidays will be upon us soon. As will the end of the First Time Home Buyers Credit. 

If you or someone you know hoping to take advantage of this tax credit? Time is running out. You must close on a home on or before November 30, 2009 in order to claim the First Time Home Buyers Credit.

Since the average closing takes anywhere from 30-45 days after an offer is accepted, there is not a lot of time left to find the perfect first home. And if you are looking for a short sale it can easily take 60-90 days to close, sometimes more.

If you are interested in looking for your new home, and to take advantage of the First Time Home Buyers Credit, please contact me, before it is to late. With inventory being at an all time high, sellers are willing to negotiate a deal. Do not let this opportunity slip away!


Don't miss out on this credit! Time is ticking away!

Yvonne Long

yvonnel.long@gmail.com

Innovative Realty Solutions Group, Inc

Here Is another question I get asked a lot, is it hard to purchase a short sale home.  Well my answer to that is what do you consider hard? In Orlando Florida the vast majority of homes on the market now are short sales.  Here are a few tips I give potential home-buyers before they decided to purchase a short sale not necessarily in this order.

•1.       A home may not really be a short sale ( lender approval is needed)

•2.       Just because they are advertising a certain price, it may not sell for that price.

•3.       Be aware of homes priced to low, remember if it seems to good to be true it is

•4.       Be prepared to submit an offer higher than the lowball short sale offer; I educate my customer to submit an offer that is close to the market value.

•5.       An educated Realtor, there are multiple things that need to be done (check and see if their are multiple liens, how much is actually owed on the house, make sure the listing agent has everything need so it does not delay the closing. etc).

•6.       Be PATIENT, most (not all) short sales take 4 to 6 months to close, just because you submit an offer, you should be aware you could be outbid. 

Buying a short sale in Orlando, Florida can be a bit overwhelming, it will require a lot of patience, but in the end you could own a piece of the American dream at a reduced price!

If you are interested in purchasing real estate in the Orlando, Florida area contact me .

Yvonne Long, Realtor

Innovative Realty Solutions Group, Inc

Yvonnel.long@gmail.com

One question I am asked alot is 'How is the housing market in the Volusia County area?' I can honestly say that it has started taking a turn for the better. From January 1st, to June 30th, 2008 there were 992 SF (single family) homes, 104 SF attached, and 268 condos SOLD in the East Volusia County area for a total of 1,364 units sold. In the same period for 2009 there were 1217 SF homes, 91 SF attached and 363 Condos SOLD for a total of 1,671. This represents an increase of approximately 19% in total sales. Of course some of you may be wondering how many of those sales were foreclosures or some form of distress or short sale. On average, the '09 statistics had approximately 30% of the sales as some type of distress sale. In '08 the distress sales represented only 11% of the market. Volusia County has 9.728 pre-foreclosure and bank foreclosure properties

For people who love Volusia County Florida as a getaway, this is a perfect time to purchase that condominium on the beach.  This is also good news for people who have been on the fence about purchasing a new home this is a wonderful time to take advantage of all of the foreclosures on the market and low interest rates. 

 http://www.bankforeclosuressale.com/list/fl/county127/deltona.html

As unpredictable as this economy and market may be at times it is still possible to find a way to look on the brighter side of things and keep a positive outlook.  As prices fall back to affordable levels and interest rates remain low, more and more people will begin to get their feet wet and get back in to the real estate market, and begin to help this economy.

Call me if your or someone you know cannot pay thier mortgage! The more you know the better decisions you can make.

Yvonne Long, Realtor

yvonnel.long@gmail.com

Innovative Realty Solutions Group, Inc

After having a few friends of mine request information on how to avoid a foreclosure I thought I would do a 2-part blog on this. So below I have included 5 of 10 important steps in helping you avoid foreclosure.

TIPS FOR AVOIDING FORECLOSURE

Are you having trouble keeping up with your mortgage payments? Have you received a notice from your lender asking you to contact them? Are foreclosure proceedings around the corner?

•-          Don't ignore the letters from your lender

•-          Contact your lender immediately

•-          Contact a financial counselor

If you are unable to make your mortgage payment:

1. Don't ignore the problem.

The further behind you become, the harder it will be to reinstate your loan and the more likely that you will lose your house to foreclosure.

2. Contact your lender as soon as you realize that you have a problem.

Lenders do not want your house.  They have options to help borrowers through difficult financial times.

3. Open and respond to all mail from your lender.

The first notice you receive will offer good information about foreclosure prevention options that can help you weather financial problems.  Later mail may include important notice of pending legal action.  Your failure to open the mail will not be an excuse in foreclosure court.

4. Know your mortgage rights.

Find your loan documents and read them so you know what your lender may do if you can't make payments.  Learn about the foreclosure laws and timeframes in your state ( as every state is different) by contacting the State Government Housing Office.

5. Understand foreclosure prevention options.

Valuable information about foreclosure prevention (also called loss mitigation) options can be found on the internet at www.fha.gov/foreclosure/index.cfm.

If you or someone you know cannot pay their mortgage, call me!

What you don't know could cost you! I am sure everyone has heard the "gloom and doom" news about short sales and foreclosures.  As I am also sure there are some very confused, homeowners out there.  I get asked on a frequent basis ,what is the difference between a short sale and foreclosure, they both effect your credit don't they?  True but I have placed just a few differences between short sales and foreclosures below:

1. With a foreclosure your credit score may drop from 250 to more than 300 points, however with a short sale your credit score may drop as little as 50 point.

2. Foreclosure's will stay on your credit for 10 years or more, short sales are not specifically reported on a credit history.  The loan is typically reported 'paid in full, settled'.

3. With a foreclosure you will be ineligible for a Fannie Mae backed mortgage for 7 years, with a short sale you will be eligible for a Fannie Mae backed mortgage after only 2 years.

4. With a foreclosure the bank has the right to pursue a deficiency judgment in all foreclosure cases ( except in states with no deficiency), in a short sale the lender (bank) will usually give up the right to a deficiency judgment, if this is a short sale of your primary residence.

I know this is a confusing time for homeowners who find themselves faced with either option, but know your options, if you need any further information regarding short sales and foreclusre feel free to contact me.

Yvonne Long,Realtor

yvonnel.long@gmail.com

Innovative Realty Solutions Group, Inc.