My Pinellas Paradise - Residential and Commercial Real Estate Sales
 
 
 
SCROLL DOWN FOR FORECLOSURE LIST
 
In the Real Estate market, like any other, Buyers are on the lookout for a "great deal". As you probably already know, our local market is a Buyers Market and there is an abundance of properties to choose from.
 
 
Many Buyers are focusing on Foreclosures and Short Sales, but it is equally important to focus on the differences between the two, and to select the right Realtor to act on your behalf.
 
It requires skill, patience and a knowledge of mortgage operations in order to successfully navigate through the obstacles that can arise when dealing with these kinds of properties.
 
Pamela can help you through the process, professionally and efficiently. The next thing you know, you'll be the proud new owner of a wonderful home for you and your family!
 
You may even be eligible for the Federal Housing Tax Credit for 2008-2009. CLICK HERE!
 
HURRY!!! Must close by December 1 for Tax Credit!!
JUST RENEWED! Not just for first-time homeowners anymore!
 
 
Foreclosure properties<
 
(SCROLL DOWN FOR CURRENT LIST)
 
Simply put, Real Estate referred to as a "Foreclosure" home means that the bank which held the mortgage has taken title to the property through legal means when the mortgagor, or borrower, defaulted on the terms of the mortgage. The process usually begins in the 4th month of delinquency, and usually after all efforts to save the home have been undertaken by the mortgagor/borrower.
The lender will begin the legal proceedings to foreclose and this can take anywhere from 3-9 months in general.
By the time the properties are on the list below, most legalities have been settled and these properties are vacant and ready for sale.
Usually the listing price is the result of many professional opinions of value, and lowball purchase offers are not always a good strategy as the banks always perform due diligence on such holdings.
Many times you will incur added closing cost expenses when buying a Foreclosure property. These fees usually include the Owners Title Policy and some recording fees, both items customarily paid by the Seller in typical Real Estate transactions in Florida. However, since the banks have already incurred heavy losses due to the foreclosure action, many are not willing to pay these fees.
Pamela can help you negotiate through the maze, ensuring NO SURPRISES on closing day!
 
Current list
Residential Foreclosures
(Bank-owned homes/"REO'S")
 
Pinellas County Beaches
 
Clearwater Beach
Sand Key
Belleair Beach
Belleair Shores
Indian Rocks Beach
 Indian Shores
Redington Beach
Redington Shores
Madeira Beach
Treasure Island
St Pete Beach
Tierra Verde
Pass-a-Grille
 
THIS WEEK:
November 20, 2009
 
108th Ave/Treasure Island/Condo/$695,000
MULTIPLE Condos at this address, up to $895,000
 
Wimbleton Court/Redington/House/$549,950
 
Brightwater Dr/ CLW Beach/Tnhm/$499,900
 
Key Capri/Treasure Island/Condo/$325,000
 
8th Ave/Tierra Verde/Tnhm/$258,700
 
150th Ave/Madeira Beach/Condo/$244,900
 
Redington Drive/Redington/House/$214,900
 
Island Way/Clearwater Beach/Tnhm/$203,500
 
8th Ave/Tierra Verde/Tnhm/$179,900
 
Key Capri Blvd/Treasure Island/Condo/$169,900
 
3rd Street E/Redington/House/$147,000
 
2nd Street E/Treasure Island/House/$143,900
 
Capri Circle/Treasure Island/Condo/$132,900
 
2nd Street/Indian Rocks Bch/Condo/$110,500
 
146th Ave E/Madeira Beach/Tnhm/$77,200
 
Gulf Blvd/Redington/Condotel/$69,500
 
Bay Esplanade/CLW Beach/Condotel/$64,700
 
 
NOW including the areas of
LARGO
SEMINOLE
BELLEAIR
 
For MORE on these bank-owned homes, please contact me. I will be happy to email you further details and/or arrange property inspections with you!
 
 
You may also use this form to contact Pamela for a list of foreclosure homes in YOUR desired location:
 
 
First Name:
Last Name:
Email:
Phone:
Zip:
Comments:
 
 
 
>Short sale homes
 
 
 
Short Sales refer to property that, in most cases, is still legally owned by the mortgagor/borrower but usually meets the following criteria:
1. The property cannot be sold for an amount sufficient to payoff all liens, encumbrances and costs of sale.
2. The Seller has some hardship that makes it impossible or extremely impractical for the Seller to keep the property.
3. The lender's Loss Mitigation dept is contacted and they are willing to entertain a Short Sale.
The single, most important factor, however, is this:
ALL INTERESTED PARTIES MUST WORK TOGETHER, including Seller, Realtor, Buyer and Lender.
The largest factor in a short sale transaction is TIME. Our current market conditions mean that lenders in the position of approving these transactions are severely understaffed and overworked. There have been cases where lenders are taking 4-6+ weeks just to respond to a purchase offer.
Short Sales are also referred to as "pre-foreclosure".
The concern about the difference between a Short Sale and a Foreclosure is that of most impact to the Seller's credit rating.
Simply put, a "Pre-foreclosure" is not quite as detrimental on a credit report as is "Foreclosure".
A Buyer's concern is usually the time required to work through these situations.
Pamela has the know-how to help you work through this type of purchase, notably her 15 years experience in most facets of the mortgage business.
However, at the current time, Pamela is only LISTING properties for short sale, after a thorough consultation, and will help you navigate the process with your lender as swiftly and efficiently as possible
She will work with BUYERS of short sale property ONLY on a case-by-case basis.
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