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34292 : Real Estate Advice

  • All26
  • Local Info1
  • Home Buying17
  • Home Selling0
  • Market Conditions1

Activity 147
Tue Mar 13, 2012
Mott Marvin Kornicki answered:
Jolene:

The steps to buying a short sale are really no different than buying any other offering; The first step is locating the property. Step two is to prepare a contract along with proof of funds- usually, the all cash offer prevails. Typically these contracts are "AS-IS", where is.

You may be allowed to inspect, but the seller(s) will not allow any concessions for repairs.

Since these offerings are usually at or below market value- and the lender approval is required, Buyer's "Proof of Funds" - a letter or bank statement is attached to the offer.

These are the items that comes to mind.

I'm sure my collegues will share some more insights.

~~~~
WATERWAY REALTY, REALTORS®
~~~~~~~~
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Thu Aug 11, 2011
Chris Lyon answered:
Elle

Venice is a small town with minimal crime. The biggest problem tends to be teenagers with to much time on their hands. The average age is 67 if that gives you an idea of the type of crime.

Rain is subjective in Florida. It may rain everyday in the summer but it may only be for fifteen minutes. Winters are pretty dry for the most part.
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Thu Aug 11, 2011
Nancy Sarajew answered:
Hi Michael,

(Monthly condo fee includes cable, exterior M/A, Pest control, Ins., Manager, Reserve Fund, security, trash removal, domestic hot water, water/sewer, annual A/C service.). If you need any help looking at any of them my husband & I are both Realtors and work diligently to help you find the best !

Best Regards,
Nancy Sarajew
Michael Saunders & Co
941-661-7383
keepinitreal2@comcast.net
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Fri Jun 10, 2011
Barbara Brazeau answered:
Hello DeeDee,
All owners of properties are listed in the Sarasota County Tax Records. If I can be assistance please feel free to contact me.

Barbara Brazeau
Short Sale and Foreclosure Resource
Allison James Estates & Homes
Magnet Mortgage Corp., Mortgage Broker
Voted Five Star in Client Satifaction
July 2009 Issue Sarasota Magazine
941-256-6713
Fax 866-518-7507
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0 votes 4 answers Share Flag
Mon May 30, 2011
Faye Doyle answered:
Hello Roster1964
I cannot see the property link you are researching.
0 votes 4 answers Share Flag
Thu May 16, 2013
Debra B Albert PA answered:
You know~

You need to watch statistics.

One will be the hightest in buyer sides
One will be the highest in dollar volume
One will be the highest in number of units over the past year.
etc.
etc.

You will need to establish the exact criteria that you are looking for in defining "Performing"

Debbie Albert, PA
Keller Williams Treasure Coast
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0 votes 6 answers Share Flag
Tue Jan 24, 2012
Charryl Youman answered:
That depends on what you like, and if you want a condo or house.

Let's start with houses.

For golf course living, my vote is Pelican Pointe, where approx $200 per month, your lawn gets cut and you get to use the club house, pool, tennis and fitness center.

For non golf course, new construction, I would say Pennington Place.

For non golf course, slightly older resales, I would vote for Meadow Run, which offers a club house, fitness room, tennis court and community pool.

For non golf course, slightly newer resales, I am thinking the maintenance free section of Venice Palms.

If you want to email me your budget and wish list, I will send you a more focused response.

Thanks
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Mon Apr 4, 2011
Charryl Youman answered:
Hello, Karen. Thanks for the excellent question.

There are some good opportunities for maintenance free living in Venice, Florida. If you could narrow it down to your choice of single family home, villa or condo, then I could make some recommendations. All of these kinds of homes offer a maintenance free lifestyle in this area.

For example - fees in condos tend to be higher, because they can include things like - yes - lawn service - but also, basic cable, sometimes water and sewer, exterior structure insurance, maintenance of the roof, and community amenities (like a pool). Somewhere in that monthly condo fee is the lawn service, for maintenance free, but the total monthly condo fee will be higher than - say - a single family home or villa where the monthly fee covers ONLY maintenance of the yard.

I hope that makes sense. If you can narrow down your lifestyle choice, I can give you more specific neighborhoods or developments to consider.

Thanks!
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Wed Nov 30, 2016
Alma Kee answered:
FHA and VA require stable associations. Most condos in Florida do not qualify because they have a significant number of owners that are not paying their assessments with many in pre-foreclosure status. Also there are owner-occupant mandatory percentages that must be met. In the "boom" there were many investors buying up condo conversions as rentals and are now walking away... ... more
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Sat Oct 5, 2013
Boris Russanov answered:
Sun Feb 20, 2011
Jackie Robertson answered:
Nationally, a record 2.9 million properties — a 2 percent jump from 2009 — were flagged with foreclosure filings in 2010. Statewide, the numbers dropped more than 6 percent to 485,286 from 516,711 last year, according to a RealtyTrac report

From Foreclosures.com, here is current information on Florida.
Updated: 02/19/11 6:31 PM
Preforeclosures: 73,898
Short Sales: 72,920
Sheriff Sales: 7,328
Foreclosures: 56,961
Bankruptcies: 22,311

Hope this information is what your were looking for. Please call me if you need additional information.

Jackie Robertson
941-926-7000
Prudential Palms Realty
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0 votes 3 answers Share Flag
Mon Mar 2, 2015
Bill Eckler answered:
Garrett,

Being from Venice I fee confident responding to your questions. There is no getting around the issue of age anywhere in Florida....especially during the winter months. Venice indeed has its share of elderly but it also offers a variety of opportunities for the young as well.

There are a number of developments that feature a true commitment to young families: Stoneybrook, Willowbend, Rivendale, etc. to mention a few. One of the features that draws people to the area is its "small town feel" that includes an outstanding quality of life.

Garrett, keep in mind the fact that when children become school age, most often the center of their social and recreational universe is found in and through their school. The educational system is one of the best in the state and when considering Pineview School, recognized as one of the top 10 in the country.

We recommend investing in a visit to Venice so you can come to your own appreciation of what the community is really about. Please feel free to contact us with any other specific questions you may have about the area.

Best regards,

Bill

Michael Saunders & Company
billeckler@michaelsaunders.com
941-408-5363
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0 votes 8 answers Share Flag
Fri Apr 3, 2015
Maria Atkins answered:
Albert,
Unfortunately yes a community has no obligation to go through the VA or FHA approval process it is very possible that they know they would not qualify. There are many factors that enter into getting a community approved. I used to work for for builder for 20 years that is the reason I know. FHA and VA have way too many requirements which makes it hard on the developers. Ususally these approvals are done at the beginning of the development. In todays market condos are difficult even when dealing with conventional financing a lot of lenders are staying away from condos period. It is a shame because condos are a great buy right now. ... more
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Mon Apr 25, 2011
Kirsten Conover answered:
That's really up to you and the location and lifestyle that you want for your second home. I have several clients who own a single family home as their primary residence-- they love the "lock and go" lifestyle of owning a condo--that way they're only responsible for maintenance, yard work,etc. on one home! Of course, the trade off is the monthly homeowner's dues. But especially if you won't be there that often, I would pick a complex that has a concierge, etc., so that your investment will be secure when you're not there.
Another question to ask is whether you'll be renting this home when you're not using it. Many condo associations have strict rules about rentals (only a certain percetage of rentals are allowed--if the complex is already at their "cap", the only way you'd be allowed to rent is to get on a list for a "hardship rental.) If you buy in a newer building, they will not be at their "cap" yet, but you'll generally have to notify them that you plan to rent the unit.
Best of luck on your purchase--for those with the funds, there's never been a better time to make an investment in another home!
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Sun Jan 16, 2011
Joan McMahon answered:
I worked on site at Woodmere at Jacaranda which is also known as Jacaranda Trace. It is a wonderful comminity for 55+. The fees are higher than some however, consider that it is a gated community and have roving security at night whcih most communities do not offer. Maintenance also includes cable along with water and sewer. Their grounds are also beautiful and the plantings in the atrium are lush. It is one of those things you get what you pay for. Contact me direct if you would like to know more. ... more
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Thu Dec 12, 2013
Faye Doyle answered:
It is pretty much the general rule at this time. You may have a relationship with a smaller-local lender who may consider smaller loan to value ratio but it is difficult to find. You may also want to confirm that the community you are considering purchasing in is on the "approved" list or qualifies for funding. Many do not. If I can be of assistance please contact me directly.

Faye Doyle
941-504-7496
RE/MAX Alliance Group
Sarasota
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Tue Nov 23, 2010
Bill Eckler answered:
Exterminator,

Your information source is a good one....the problem with "pin hole" leaks in water lines goes far beyond Venice and into Nokomis, Osprey, Sarasota, Englewood and North Port. The problem is one that seems to be isolated to copper pipes so if you are trying to be on the safe side you should focus your search on newer homes with PVC piping or older homes that have been re-piped.

We would be happy to provide you with additional information through email or a telephone call.

Best of luck with your search,

Bill

Michael Saunders & Company
billeckler@michaelsaunders.com
941-408-5363
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Mon Jun 3, 2013
Anna M Brocco answered:
If you are concerned about crime, your best source of information is the local police department, why not visit/call and ask all your questions, they'll gladly help--also consider revisiting the area(s) more than once and at different times of day, possibly chat with locals, drive around, look at everything that is important to you, etc., and then make your determination--will your comfort level be reached. ... more
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Tue Sep 28, 2010
ANDREW OLLICK answered:
The agent definitely should have specified that they don't acept financing offer to not waste your and his/her time. it might have been a slight mistake. Are you sure they don';t accept financing offers, or did they simply pass your offer by in favor of a cash offer?

Elena Ollick
Amerivest Realty
Faith Home Loans
239-206-4500
eo@oceanhomesrealty.com
Latest Post: Naples Luxury Home on Fire
www.andrewollick.com/realestateblog
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Tue Nov 2, 2010
ANDREW OLLICK answered:
Naples is an amazingly beautiful town with all the amenities of a big city ( shopping, dining, entertainment), but a charm of a Tuscan village. You will definitely need a realtor regardless of where yu buy, but you might want to decide on that first, since most realtors work locally. Have you though about taking a trip down here and looking at a few places? Also what's your price range- that might help you narrow things down.
If you'd like more help, feel free to email us at eo@oceanhomesrealty.com or call 239-206-4500 I'll send you some pictures of Naples.

Elena Ollick
Amerivest Realty
Faith Home Loans
239-206-4500
eo@oceanhomesrealty.com
Latest Post: Naples Luxury Home on Fire
www.andrewollick.com/realestateblog
... more
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