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By Title Junction LLC | Real Estate Pro in Fort Myers, FL
  • Retirement Moves Make a Comeback

    Posted Under: Investment Properties in Naples, Home Ownership in Naples  |  June 25, 2014 7:32 AM  |  71 views  |  No comments
    Steven Ramos, a retired letter carrier, estimated his cost of living would drop 80 percent when he moved from New York to a rental community in central Florida.

    Read More: http://www.pewstates.org/projects/stateline/headlines/retirement-moves-make-a-comeback-85899546597


    Courtesy of:
    Title Junction, LLC
    Tel. 239-415-6574
    www.title-junction.com
  • Florida sees small break in deluge of rising property insurance rates

    Posted Under: Agent2Agent in Fort Myers Beach, Home Insurance in Fort Myers Beach, Home Ownership in Fort Myers Beach  |  May 23, 2014 6:08 AM  |  204 views  |  No comments
    Over the past eight hurricane-free seasons, Florida homeowners have had more to fear from their insurance company than from Mother Nature. Storm or no storm, rates have been steadily trending up in what's already the most expensive state to insure property. No more.

    Read More: http://www.tampabay.com/news/business/banking/florida-sees-small-break-in-deluge-of-rising-property-insurance-rates/2179465



    Courtesy of:
    Title Junction, LLC
    Tel. 239-415-6574
    www.title-junction.com
  • Florida a top ranked economy? Not so fast, report says

    Posted Under: General Area in Fort Myers, Market Conditions in Fort Myers, Home Ownership in Fort Myers  |  May 15, 2014 7:45 AM  |  146 views  |  No comments

    TALLAHASSEE, Fla. — When it comes to economic rankings, especially by free-market leaning outfits, Florida often ranks near the top.

    It’s a point of pride for Sunshine State lawmakers, even those typically opposed to low taxes and light business regulations.

    Read More:
     http://watchdog.org/140693/alec-florida-economy/

    Courtesy of:
    Title Junction, LLC
    Tel. 239-415-6574
    www.title-junction.com

  • Housing in U.S. Cools as Rate Rise Hits Sales: Mortgages

    Posted Under: Market Conditions in Cape Coral, Home Ownership in Cape Coral  |  May 14, 2014 6:25 AM  |  122 views  |  No comments

    After a roller-coaster decade of boom-bust-boom, the U.S. housing market is going downhill just when many economists thought annual sales would be heading up.

    Sales of previously owned properties in March tumbled 7.5 percent from a year earlier to the slowest pace in 20 months, while purchases of new houses sank 14.5 percent from February, according to reports this week. Mortgage applications to buy homes plunged 19 percent from a year earlier, indicating slowing demand during what is typically the busiest season for deals.

    Read More: 
    http://www.businessweek.com/news/2014-04-25/housing-in-u-dot-s-dot-trembles-as-rising-rates-reduce-sales-mortgages


    Courtesy of:
    Title Junction, LLC
    Tel. 239-415-6574
    www.title-junction.com

  • RealtyTrac: Buying a home still beats renting

    Posted Under: Home Buying in Fort Myers, Rent vs Buy in Fort Myers, Home Ownership in Fort Myers  |  February 27, 2014 6:28 AM  |  312 views  |  No comments
    Home prices and interest rates keep climbing, but it’s still cheaper to buy a house than to rent one in South Florida, according to the RealtyTrac listing firm.

    The average monthly payment for buying a three-bedroom house in Palm Beach County was $898 in the fourth quarter, assuming a 20 percent down payment and a 30-year, fixed-rate mortgage of 4.46 percent, RealtyTrac said.

    Read More:  http://www.sun-sentinel.com/business/realestate/house-keys-blog/sfl-realtytrac-buying-home-link20140220,0,477737.story



    Courtesy of:
    Title Junction, LLC
    Tel.  239.415.6574
    www.title-junction.com    

  • Fort Myers and Cape Coral Closing Process

    Posted Under: Home Selling in Fort Myers, Agent2Agent in Fort Myers, Home Ownership in Fort Myers  |  February 10, 2014 6:25 AM  |  201 views  |  No comments

    Fort Myers and Cape Coral Closing Process

     

    Closing a Cape Coral or Fort Myers real estate transaction is a complex process requiring the cooperation and coordination of all parties involved.  At Title Junction, we have the experience and know-how needed to make sure the entire process is completed successfully and in an efficient and timely manner.  We work hard to ensure your experience with us is a pleasant one and one you would make again if you ever need our services.  

    1.     The process begins once we have received the sales contract or title order.  This is when the count-down to closing starts.  From this point, timelines and document preparation become a key component to closing the transaction.  

          The next step is to have a detailed search of county, state and federal records conducted.  After the search is reviewed we prepare a title commitment that is sent out to buyers, sellers, realtors and lenders. Communication is a vital part to closing any transaction.

            Next, our staff stays on top of every detail and obtains all the necessary documents and information to get to the closing table.  There is crucial information that must be obtained from the buyer, seller, the real estate agents, lenders and any other professionals involved in the transaction.  Examples of this would be obtaining mortgage payoffs, current taxes, homeowner association fees and any other lien or assessments.

     

          We work closely with the buyer, seller, realtors, and the bank to make sure that all parties involved get all of the information they need in a timely manner.  We communicate with each party involved in the transaction to make sure that everything comes together seamlessly and that nothing falls through the cracks.  Our main goal is to create a smooth and timely closing of the transaction.

           We also order additional services if they are required or requested such as inspections, appraisals or surveys.  For instance, most lenders will require that a survey be done.  However, if there is no lender, a survey is not required but the buyer could request to have one done.

     

           As soon as all the necessary information and numbers from the lender are collected, we prepare the Settlement Statement showing the breakdown of fees, costs, charges and credits.  We provide this to all parties as early as we can so they may have a chance to review the Settlement Statement so there are no surprises at the closing table.

     

    7.    Before closing, we update the title work and we check for any information that may need to be updated or is required to be updated.  Then, a final review is conducted by one of our settlement agents and once they are satisfied that all documents are in order, the date and time is scheduled and confirmed with all parties.

     

           Now it is finally time to close your Cape Coral or Fort Myers real estate title transaction.  At closing, we explain all the documents, including everything on the Settlement Statement.  We also answer any questions and get any additional information that may have been requested by any of the parties.  A smooth closing is the result of all the time, attention and effort our staff puts into every closing.

     

           Immediately following the closing, we have all the necessary documents recorded in the county clerks office.  When the documents are returned to us, we issue the owners policy and send it, and the original deed, to the owner.  We also send the lenders policy and the original mortgage to the lender.

     

    We are the real estate/closing relationship you deserve!!!

    Title Junction is a full service real estate title company serving the area of Fort Myers, Cape Coral and the entire state of Florida since 2005. The company handles a number of real estate title services for both commercial and residential properties. Employees of Title Junction can also act as a witness in courtesy closings as well as an escrow agent or a notary public.

    Please contact Jennifer Ferri of Title Junction, LLC for further information @ 239-415-6574 or www.title-junction.com

     

  • Banks Abandoning Mortgage Preapprovals

    Posted Under: Home Buying in Fort Myers, Financing in Fort Myers, Home Ownership in Fort Myers  |  January 17, 2014 6:41 AM  |  247 views  |  No comments

    Banks Abandoning Mortgage Preapprovals

     

    The mortgage preapproval, for years a crucial step in the home-buying process, is losing its luster with lenders, new data show.

    Among the top 25 mortgage lenders, just 29,912 preapprovals resulted in mortgages that borrowers received to purchase a home last year, according to data released last month by the Federal Financial Institutions Examinations Council.  That’s down from 101,626 in 2007, before the housing downturn.  Preapprovals accounted for four percent of purchase mortgages that were originated by these lenders last year, down from nine percent in 2007.

    In addition, preapprovals – which have traditionally been considered one of the first steps to getting a home loan – did not precede any of the mortgages doled out to homebuyers by 14 of the largest 25 lenders this year.

    The demise of the preapproval comes at a delicate time for homebuyers.  As competition heats up, bidding wars are becoming the norm; for prospective buyers to stand out to sellers, they often need to show proof that they have lined up financing and are ready to proceed with the transaction, says Jim Gaines, research economist at Texas A&M University’s Real Estate Center.

    Housing experts say the decline in preapprovals is largely due to dwindling competition among mortgage lenders for new clients.  Prior to the recession, lenders used preapprovals as a way to attract would-be borrowers.  Buyers who had this commitment from a lender were more likely to turn to this company when they were ready to get the actual mortgage, says Keith Gumbinger, vice president at mortgage-info site HSH.com.

    Several banks, including Chase and Bank of America, say rather than pre-approving homebuyers, they’re mostly doing pre-qualifications.  With pre-qualifications, lenders inform borrowers of the size of the loan they can qualify for based on their stated income and assets as well as an initial credit check.  Historically, pre-qualifications were the first step buyers would take before shopping, which was then followed by a preapproval when they became serious about a specific home they wanted to purchase.

    A prequalification doesn’t provide the same leverage to buyers, though, as an official preapproval.  Pre-qualifications are typically based on average mortgage rates rather than the rate that’s close to what the borrower would actually get.  Also, most lenders can rescind a prequalification, whereas a preapproval is a commitment that usually lasts two to three months.

     

    Source:  Old Republic National Title Insurance Company, Real Estate Digest, December 2013, Volume 39, Number 12 

    Title Junction is a full service real estate title company serving the area of Fort Myers, Cape Coral and the entire state of Florida since 2005. The company handles a number of real estate title services for both commercial and residential properties. Employees of Title Junction can also act as a witness in courtesy closings as well as an escrow agent or a notary public.  Please contact Jennifer Ferri of Title Junction, LLC for further information @ 239-415-6574 or www.title-junction.com

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