Steven P Wood

"Bank-Owned, Short Sales, and Residential Real Estate Sales and Listings in Palm"
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  • Palm Coast Realty, Inc.
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Steven P Wood,  in
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About Me
I have been a Real Estate Agent in Virginia Beach, Virginia for 3 years in the past. I have been a Real Estate Investor for the last 5 years without being a Licensed Real Estate Agent. I know a lot about buying and selling homes, stopping foreclosures in a non-judicial foreclosure state, forbearance agreements, reinstating loans, short sales, dealing with the Loss Mitigation Department at Mortgage Companies/Banks, equity sharing, contracts for deeds, dealing with people in financial harships as well as people living the good-life.

I have invested in Residential (Single Family, Townhomes, and Condos), Multi-Family, and Commercial Properties. I know about Hard Money Loans, Bridge Loans, and how to work with Mortgage Lenders and can apply my knowledge to helping others with normal and creative financing.

I am a believer in holding Open Houses and creating flyers and other marketing tools to help sell homes. As an Investor, I have sold many of the homes, that I rehabbed, by myself, without the help of Real Estate Agents. When the market got tough, I enlisted the help of Real Estate agents.

I go out and view homes in the Jupiter, Palm Beach Gardens, Juno Beach, and Tequesta areas to become familiar with Inventory in order to help Buyers find what they are looking for in the least amount of time.

I am attentive, usually on time, and diligent. I return phone calls and listen to what people want. I used to be an ace computer programmer working on real-time applications and can handle tough and complex situations. I pay attention to the smallest of details.

I am Internet Savvy and am well versed in creating SQL Searches into the Multiple Listing Service (MLS) for customers looking to buy homes. I have signed up with the House Values/Just Listed Company, Point 2 Agent, and now Trulia to find new customers to help and when time permits, I will be fully integrated with most of the Real Estate Internet Sites!

I am honest. I am a member of The Board of Realtors (I am governed by a Strict Code of Ethics), and I am Licensed to sell real estate in Florida (governed by the State). I do not like to sugar-coat things. I am happiest when I have made a customer happy in achieving what they want or need.

I am currently relocating BACK to Florida and have been practicing Real Estate Sales and Rentals in Jupiter, Palm Beach Gardens, Juno Beach, and Tequesta since March 2007. My office is located RIGHT NEXT TO MY PHONE!

I believe in building Relationships where Clients trust me and want me to help them. I do not want to restrict Buyers with a Buyer's Brokerage Agreement, and my only request from my Buyer Clients is to honor that I am in business as a Real Estate Sales Agent and that I am only paid on commissions and that I only get commissions once the Buyer is happy and has obtained what they were looking for. I request from my Seller Clients a full understanding of what the market is doing and to respect the market such that if they want to sell their home (in this market) that they have to be in front of the negative curve and to be in front of the curve with the nicest home.
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Steven P Wood's Questions (4)
Steven P Wood's Answers (24)

Is a short sale a good deal?

Steven P Wood answered:
Hello All!

I wanted to get this information out to everybody.

I have been struggling with "How do you mark a Listing in the MLS when you have a:

+++ Signed by the Owner +++ Executed Contract on a Short Sale Property?"


I wrote an email to the local MLS and asked them.

I told them I wanted an answer that I could publish.


The following is the respons that I received.

I have placed line-breaks in the answer for easy reading.



The policy for marking a listing “Contingency” is the same whether the property is a conventional sale, short sale or foreclosure.
When an offer is signed by the seller and submitted for third party approval, it should be marked “Contingency”.
The property is contingent upon third party approval of the offer from the bank, lender, etc.
The FAR addendum to Short Sale states that the property should remain active to continue soliciting the property.
Regional MLS’s policy concerning this addendum is that Contingency is an “Active” status; offers are still accepted, and the property is still actively on the market.
The “Contingency” status as in any sale, informs agents/buyers that there is an on the property that is in-the-works.


I have not changed any of this answer. It looks like there should be another word in the last sentence. I believe that the word should be "OFFER" right after "informs agents/buyers that there is an" .

I am hoping this helps all of us, Buyers, Sellers, Lenders, Real Estate Agents, Brokers, Title Companies, Investors, etc.!

Remember, this is just in the area that I am in!

Your MLS may have different policies! BE SURE TO WRITE YOUR LOCAL MLS FOR A CORRECT ANSWER IN YOUR AREAS!

Sincerely,

Steven P. Wood, Realtor
Palm Coast Realty, Inc.
12300 Alt. A1A, Suite 209A
Palm Beach Gardens, Florida 33410

Direct: 1-800-298-2566 or 703-851-6535

eMail: Steven_P_Wood@msn.com

Web: http://www.homepages.com/StevenWood1
http://stevenwood.rmlsfl.mlxchange.com/
http://www.ByJoveMyHome.com/

Office: 1-800-298-2566
Fax: 561-277-2415
Cell: 703-851-6535

I am at Your Service for ALL of Your Real Estate Needs, Specializing in Jupiter, Juno Beach, Tequesta and Palm Beach Gardens !!! - Wed Oct 29 2008, 17:22
Part II

I have worked many Short Sales.

There are no Cookie-Cutter Answers.

Every Answer that you hear of, may or may not apply to Your Purchase.

That is because there are

so many Parameters

that are involved

that Affects Each and Every Player, together or separately,

in the Short Sale Process.


I mentioned Player above.

The Players are:

1) The Home Owner,

2) The Mortgage Company/Bank

(This is the Company that loaned the money to the Home Owner in order to Purchase the Home. The Home Owner applied for a loan with the Mortgage Company/Bank to get the loan.)


Often, the Mortgage Company/Bank sells the loan to an Investor, but the Mortgage Company/Bank continues to SERVICE the loan. This means that the Home Owner pays the Mortgage Servicing Company for a Loan that is owned by an Investor, and the Mortgage Servicing Company is paid handsomely by the Investor for servicing the loan. Very few people remember the Disclosure Statement that indicated that they sell the loans to others!


3) The MORTGAGE SERVICING Company,

4) The Lender/Investor

(The Lender/Investor is different from the Mortgage Servicing Company)

5) The Listing Real Estate Agent/Brokerage

6) The Buyer's Real Estate Agent/Brokerage

7) The Home Owner's Association/Condo Association

8) The Foreclosure Attorney

9) The Loss Mitigation Representative of the Mortgage Company

10) The Loss Mitigation Representative of the Investor

11) The Collection Agency hired by the Mortgage Company/Investor

12) All of the Lawyers hired by all of the above

13) The Liens and Judgments (and the Lawyers associated), including Mechanics Liens, Federal Tax Liens, etc.,

14) Garnishments, Bankruptcies, and Liens, OH MY! (a little humor for you)

15) The Electric, Gas, Water, Sewer, Trash, Cable, etc companies

16) Did the Mortgage Company buy MORTGAGE INSURANCE and never tell you, and hence Will Refuse a small payment as a work out?

17) The Secondary Mortgage Market

18) The Government Bail Outs

19) The Election

20) The Stock Market

21) The Feds and their manipulation of the Central Bank

22) fill in the blank ______________________________________

and now for the Slammer,,,,,

If there is a Second Mortgage on the property, MULTIPLY WHAT WE HAVE HERE, by TWO! (not really but there is some truth)

And a double Slammer,,,,,,

If the home is an Investment Property or a Secondary Residence, then there are other problems….


I suspect we have had enough education for Part II



If, by any chance, you may know any folks in a predicament with their mortgage payments, make sure they contact

A) an attorney experienced in 1) Real Estate Transactions, 2) Foreclosures, 3) Bankruptcy, 3) Short Sales, 4) IRS Tax Liens, 5) etc.,
B) a CPA for Tax repercussions,
C) and an experienced Real Estate Sales Associate.

Stay Tuned for the next Part… - Sat Jan 5 2008, 18:47
Hi Susan,

Without a doubt, a Short Sale can turn into a Good Deal, but, in general, you need a Guide to help you along in the Sale, the Purchase, and/or Both,

with each property!

It is usually a good deal for the Home Owner, a good deal for the Home Buyer, and a good deal for the Existing Investor/Mortgage Company. In Fact, that is usually what happens in a Short Sale!

In case you did not know,

a Real Estate Short Sale is

any Real Estate Sale where

the Bank/Mortgage Company

AGREES to ACCEPT

less than what is owed on a property

in exchange for

removing All Bank/Mortgage Company Liens from the property

in order to allow the Home Owner to sell the property to the Home Buyer, so that the Home Buyer can purchase that home

without any Mortgage Liens on that property,

such that the Home Buyer can obtain the property without any Clouds of Title on the property.,

There are many other facets to a Short Sale. The Guide will explain them to you,

Be sure to use the Guide (Experienced Short Sale Realtor) to help you through the process!

More to come later,,,

(Who can offer their property for sale using a Short Sale, the personal cost of selling a home using a Short Sale, why the Bank/Mortgage Compny will work with a Home Owner (and more importantly, Why a Bank/Mortgage Company WILL NOT work with a Home Owner), how to speak with the Short Sale Experienced Realtor, the Bank, the Owner, the Buyer, etc,) - Thu Jan 3 2008, 22:04
Steven P Wood answered:
Hi Vonia,

In contracts there is a need for Consideration (legal term).

There are 2 types of Consideration, one is something like cash, or something that can be converted to cash easily. The other type of Consideraion is a little less defined,,, BUT A LOT MORE VALUABLE!

Consideration can be in the form of Love, or Luv, or Appreciation, or Just Because,,,, to Loved Ones and Cherished Ones, and Family or Friends, or ETC.

I think that is what you are referring to.

A good search of Valuable Consideration With Legal Contracts on one of the search engines on the internet may give you a good anwer. - Sat Oct 11 2008, 20:59
Steven P Wood answered:
Hi Paul,

Where do I begin?

I am assuming that the owner of this Condo in Palm Beach Gardens is in a Severe Financial Crisis, where he/she cannot make any payments on the Mortgage(s) or to other Lien Holders.

There are many aspects that one has to consider in order to be qualified for, and then, to do a Short Sale.

I am a Short Sale Specialist and I work in the Palm Beach Gardens, as well as Palm Beach County and Martin County.

The first thing to do is to get Good Advice, from Short Sale Savvy Real Estate Agents, Attorneys, and Financial Advisors.

If the condo is not listed with another Real Estate Agent, then I would like to help you with the Condo Owner's situation.

Part of the help and assistance that I can offer, to My CLIENTS, is a FREE, 2 hour session with a Real Estate Attorney, to make sure the HomeOwner will be qualified for a Short Sale, and what other options are available and/or what repercussions can be expected.

Please give me a call or send an email.

And if anybody in Palm Beach or Martin County, or surrounding areas, needs help with a potential Short Sale Situation, do contact me,,,

Steven P. Wood, Realtor
Palm Coast Realty, Inc,
12300 Alt. A1A, Suite 209A
Palm Beach Gardens, FL 33410

Direct: 1-800-298-2566

eMail: Steven_P_Wood@msn.com

Web: http://www.homepages.com/StevenWood1
http://stevenwood.rmlsfl.mlxchange.com/
http://www.ByJoveMyHome.com/

Office: 1-800-298-2566
Fax: 561-625-0086
Cell: 703-851-6535

I am at Your Service for ALL of Your Real Estate Needs, Specializing in Jupiter, Juno Beach, Tequesta and Palm Beach Gardens !!! - Sun Jul 27 2008, 00:07
Steven P Wood answered:
Hi Norma,

Be sure to look into how high Property Taxes and Insurance and HOA/Condo Fees (Oh My!) are. That is a consideration that most folks down here are used to and sometimes, forget to mention, but can be a major awakening if you didn't know about them! Use your calculator!

Be sure to learn about the Building Code Changes of 2002 and how they affect Insurance and Hurricane Resistance. For example, pre-2002 property prices are a little lower than post-2002, but insurance is a little higher on the pre-2002, and vice-versa.

Preserves and Lake views are nice, but they also attract more critters. Big and Small Critters on 4 legs, on 6 legs, on 8 legs, and that slither. But, you need not be on the Preserves or the Lakes to meet up with these Critters. In general, the Critters are more scared of you!

Roofing is very important. Make sure you have good Concrete Shingles, Metal Roofs, and other roofs that take on high winds.

Storage is important. No basements to speak of in Florida.

Attics, Closets, Garages, Spare Rooms, Storage Companies, and other methods to store rarely used items, such as Christmas Trees, Hanukah Menorahs, Eid Accessories, and other religious celabritory items,,, Gay Pride Parade Costumes, Halloween Costumes, Breast Cancer, MS, and other Charities and Community Service, Uniforms and Awards, Memoribilia such as Military Uniforms, Pre-school. Middle School, High School, College, and Work Trophys and Trinkets, Photographs, and such items as an Inteview (Beta, VHS, DVD, or Thumbnail) Recording with Fox News, NBC, MSNBC, CNN, or ESPN or other National Cable Networks, Your DVD collection of Bonanza, I Love Lucy, Sex In the City, and Three Stooges TV Serials, and AD-INFINITUM other trinkets, should be measured to make sure you have enough room to store your items of interest!

Be sure to learn about "Temprature Settings on your A/C to make sure Mold doesn't grow inside your Home, or Garage, or Trailor home, or Boat, Golf Cart, 2nd car, etc!

More to come if you are interested,,,

Contact me for any of your Real Estate Needs!

Sincerely,

Steven P. Wood, Realtor
Palm Coast Realty, Inc,
12300 Alt. A1A, Suite 209A
Palm Beach Gardens, FL 33410

Direct: 1-800-298-2566

eMail: Steven_P_Wood@msn.com

Web: http://www.homepages.com/StevenWood1
http://stevenwood.rmlsfl.mlxchange.com/
http://www.ByJoveMyHome.com/

Office:1-800-298-2566
Fax: 561-625-0086
Cell: 703-851-6535 - Sun Jul 27 2008, 00:04
I was telling one of the Snow Birds here that I will be missing them when they fly away.

And, I told them to be careful up there,,, besides the Cold that they are flying away to,

I told them that they may have to worry about Moose when

they drive away form the airport when they arrive back North,

to New Hampshire, Vermont, Maine, Massachusetts, New York, South Dakota, North Dakota, Wisconsin, Michigan,

Toronto, Ottawa, Canada, Nova Scotia, etc!


ATTENTION,,, ATTENTION,,, ATTENTION

I have not heard of any Moose Accidents here in Florida!

Specifically in Palm Beach County, Martin County, Saint Lucie or Broward Counties.


I did hear about a Moose Lodge Accident up in Martin County,,,, But this is a PG Rated Post!


We do have Ice issues here!


The Ice issues are mostly about the following:

1) is there enough Ice for the Iced Tea, or Long Island Iced Tea, the Pina Coladas, the Rum Runners, the Margaritas (Margarita Ville), and Hurricanes,,, etc,

2) can you afford the Ice you need when you propose to your Sweetie

3) you can't out run the POL ice (especially here in Jupiter, Juno Beach, Palm Beach Gardens, and Tequesta, Florida)


We also have Alligators and Crocodiles,,, But so does the North!

Watch out for the Guys wearing the Crocodile shirt,,, or is that the Alligator Shirt,,,


Oh yes, the Sharks up North are Fierce!

Especially when you are the Only Bait In Town! (I was just singing that tune in my head,,, Thanks to Jimmy Buffet)

Hey Jimmy Buffet, I would like to meet you! I have been a fan since 1975,,, Stationed in Bermuda, US Navy!

I would like to find you your next home too,,,

Take my Wife,,,, Please,,,

If you would like to find some Great Deals, here in Sunny Florida, err, Paradise, be sure to click on the following URL’s,,,, Links,,, umm, heck into my Web Sites below!

Thank you, Thank you, Y’all drive careful now!

Sincerely,

Steven P. Wood, Realtor
Palm Coast Realty, Inc,
12300 Alt. A1A, Suite 209A
Palm Beach Gardens, FL 33410

Direct: 1-800-298-2566

eMail: Steven_P_Wood@msn.com

Web: http://www.homepages.com/StevenWood1
http://stevenwood.rmlsfl.mlxchange.com/
http://www.ByJoveMyHome.com/

Office: 1-800-298-2566
Fax: 561-625-0086
Cell: 703-851-6535

I am at Your Service for ALL of Your Real Estate Needs, Specializing in Jupiter, Juno Beach, Tequesta and Palm Beach Gardens !!! - Sun Jul 27 2008, 00:01

Looking to move to West Palm Beach, FL from NJ

Steven P Wood answered:
Hi Tkb,

Please go to the following web site and look at the crime rates by city. I specialize in Jupiter, Tequesta, Palm Beach Gardens, and Jupiter, and, of course, the surrounding areas in Palm Beach and Martin Counties.

http://www.idcide.com/citydata/fl/index.htm

I am very happy with our more agressive police force here. Kudos to the Pubic Servants in Northern Palm Beach County!

And the following link will take you to the Palm Beach County School Web Site:

http://www.palmbeach.k12.fl.us/PublicAffairs/Information%20D…

Lots of information, including School Boundries are listed in this web site!

If your plans include looking for homes in my neck of the woods, I would be happy to help you with your search.

Please give me a call or email me,

Sincerely,

Steven P. Wood, Realtor
Palm Coast Realty, Inc,
12300 Alt. A1A, Suite 209A
Palm Beach Gardens, FL 33410

Direct: 1-800-298-2566

eMail: Steven_P_Wood@msn.com

Web: http://www.homepages.com/StevenWood1
http://stevenwood.rmlsfl.mlxchange.com/
http://www.ByJoveMyHome.com/

Office: 1-800-298-2566
Fax: 561-625-0086
Cell: 703-851-6535

I am at Your Service for ALL of Your Real Estate Needs, Specializing in Jupiter, Juno Beach, Tequesta and Palm Beach Gardens !!! - Sat Jul 26 2008, 23:34
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