his spacious corner unit townhome is situated on a private preserve lot that is very peaceful. The end unit is light and bright with a nice side yard. Hardwood floors in living and dining area as well as up the staircase. Granite counter tops and maple wood cabinets continue from the kitchen to bathrooms. Stainless steal appliances, designer paint finishes throughout, upgraded tile in kitchen and baths. The split floor plan offers privacy for guests. Laundry room is located upstairs for convenience. Carillon/Feather sound location offers all of life’s conveniences. St. Anthony’s medical and Wellness center are walking distance along with all the shopping for your everyday needs. Of course, there is a Starbucks across Ulmerton! “Sale is subject to seller’s lender’s approval”.

View Photos Click Here

Heritage Harbour, Award Winning Gated Golf Course Community. This 2,751 Sq Ft Grand Weston Flex floor plan located on the 14th hole. The home has an amazing floor plan which will suite any family! High tray ceiling with crown molding, formal living room and family room on the 1st floor overlooking the heated in-ground salt pool and custom summer kitchen with SS grill and refrigerator. Large master suite with tub and separate shower (1st floor) 2nd floor game room has built-in office with views of preserve and 14th green. Over $100k of upgrades, pool, window treatments, moldings, California closets, tinted windows, Murphy bed, landscaping, built-in office and so much more. This is a must see!

WASHINGTON (AP) – Dec. 10, 2009 – The number of homeowners on the brink of foreclosure fell in November, the fourth straight monthly decline, as mortgage companies evaluated whether borrowers were eligible for help.

Nearly 307,000 households, or one in every 417 homes, received a foreclosure-related notice in November, down 8 percent from a month earlier, RealtyTrac Inc. said Thursday. Banks repossessed about 77,000 homes last month, down slightly from October.

Millions of borrowers are still being evaluated for the Obama administration’s foreclosure prevention effort. States are also trying to delay the foreclosure process, temporarily lowering foreclosure numbers.

But the foreclosure crisis is likely to get worse before it gets better.

“We don’t really believe the underlying problems have been resolved,” said Rick Sharga, senior vice president at the Irvine, Calif.-based foreclosure listing service. Many borrowers, he said, “simply aren’t going to qualify” for help.

Foreclosure filings were still up 18 percent from a year ago, and a new wave is expected next year as unemployment remains high and borrowers fall out of loan modification programs.

Nevada posted the nation’s highest foreclosure rate, followed by Florida, California, Arizona and Idaho. Rounding out the top 10 were Michigan, Illinois, Utah, Maryland and New Jersey.

Among cities, Merced, Calif. had the highest rate, with one in 83 homes receiving a foreclosure filing. It was followed by fellow California cities Stockton and Modesto, and Cape-Coral-Fort Myers, Fla.

Las Vegas, which had been No. 1 on that list for four-straight months, fell to No. 5. Nevada recently adopted a program that requires mediation before banks can seize a property.

Nationwide, a report Wednesday showed only about 10,000 homeowners received permanent loan modifications this fall under the Obama administration’s mortgage relief plan, more evidence of serious failings in the government’s effort.

Elizabeth Warren, chair of a watchdog panel, told reporters that the program is “not working” and that it had failed to make a dent in the record level of foreclosures. More than 14 percent of homeowners with a mortgage are either late on their payments or in foreclosure, and that number is expected to keep rising as unemployment remains stubbornly high.

The Treasury Department is expected to release updated figures Thursday, but data through October showed that fewer than 5 percent of homeowners who completed the trial periods had their mortgage payments permanently lowered to more affordable levels.

Under the program, eligible borrowers who are behind or at risk of default can have their mortgage interest rate reduced to as low as 2 percent for five years. They are given temporary modifications, which are supposed to become permanent after borrowers make three payments on time and complete the required paperwork, including proof of income and a hardship letter.

This video is my personal experience of selling homes that need to go through the short sale process. Some banks have made the process easy while others have (bank of America) are making this so hard. I’ve tried to give you an overview of what I’ve see and what my clients have experienced over the past 2 years. If you have any additional questions about the process or maybe you need help selling your home call or email me. visit me at www.DavidPriceRealtor.com

WASHINGTON – Dec. 7, 2009 – Even before the government put pressure on them to embrace short sales, more banks were starting to take their lumps, do the short-sale deals and move on.

Three years into the housing meltdown, short sales have tripled to 40,000 in the first six months of 2009 compared to the same time period a year ago, according to data from the Office of Thrift Supervision and the Office of the Comptroller of the Currency.

Wells Fargo, Bank of America Corp. and JPMorgan Chase & Co. this year have hired and trained more staff to handle short sales and also developed software for expediting them.

“It’s really finally dawning on banks that they’re better off with a short sale,” says Richard Green, director of the Lusk Center for Real Estate at the University of Southern California in Los Angeles. “I think banks were in denial.”

Source: Bloomberg, John Gittelsohn and Margaret Collins (12/4/2009)

Thanks to the newly extended and expanded homebuyer tax credit, first-time homebuyers may still qualify for an $8,000 tax credit and existing homeowners may qualify for a $6,500 tax credit when they buy a new home. That’s a guaranteed federal tax credit that directly reduces the amount of taxes you owe for the entire year. Even if you have little or no federal income tax liability to offset, you may be able to claim the full $8,000 or $6,500 as a refund.
You may qualify for the newly extended $8,000 federal tax credit if*:
You are a first-time buyer or have not owned a home for the past 3 years
You make $225,000 or less if filing as a couple ($125,000 or less if filing single)
You enter into a written contract for sale before May 1, 2010 and close on the new home before July 1, 2010
You don’t sell the home within 3 years of closing
You use the new home as a principal residence, which can be a single-family home, condominium or townhome
The purchase price of the home is $800,000 or less and you did not buy it from a lineal ancestor or descendent
You are not claimed as a dependent on someone else’s tax return
You may qualify for the newly expanded $6,500 federal tax credit if*:
You are an existing homeowner who has owned and lived in your home for any 5 consecutive years out of the last 8 years
You make $225,000 or less if filing as a couple ($125,000 or less if filing single)
You enter into a written contract for sale before May 1, 2010 and close on the new home before July 1, 2010
You don’t sell the home within 3 years of closing
You use the new home as a principal residence, which can be a single-family home, condominium or townhome
The purchase price of the home is $800,000 or less and you did not buy it from a lineal ancestor or descendent
You are not claimed as a dependent on someone else’s tax return

Nine consecutive gains for pending home sales

WASHINGTON – Dec. 1, 2009 – Pending home sales have risen for nine months in a row, a first for the series of the index since its inception in 2001, according to the National Association of Realtors® (NAR).

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in October, increased 3.7 percent to 114.1 from 110.0 in September, and is 31.8 percent above October 2008 when it was 86.6. The rise from a year ago is the biggest annual increase ever recorded for the index, which is at the highest level since March 2006 when it was 115.2.

Lawrence Yun, NAR chief economist, said home sales are experiencing a pendulum swing. “Keep in mind that housing had been underperforming over most of the past year. Based on the demographics of our growing population, existing-home sales should be in the range of 5.5 million to 6.0 million annually, but we were well below the 5-million mark before the homebuyer tax credit stimulus,” he said. “This means the tax credit is helping unleash a pent-up demand from a large pool of financially qualified renters, much more than borrowing sales from the future.”

The PHSI in the Northeast surged 19.9 percent to 100.2 in October and is 44.2 percent above a year ago. In the Midwest the index rose 11.6 percent to 109.6 and is 36.6 percent higher than October 2008. Pending home sales in the South increased 5.4 percent to an index of 115.4, which is 31.6 percent above a year ago. In the West the index fell 11.2 percent to 127.7 but is 21.9 percent above October 2008.

Yun cautioned that home sales could dip in the months ahead.

“The expanded tax credit has only been available for the past three weeks, but the time between when buyers start looking at homes until they close on a sale can take anywhere from three to five months. Given the lag time, we could see a temporary decline in closed existing-home sales from December until early spring when we get another surge, but the weak job market remains a major concern and could slow the recovery process.

“Still, as inventories continue to decline and balance is gradually restored between buyers and sellers, we should reach self-sustaining housing conditions and firming home prices in most areas around the middle of 2010. That would mean broad wealth stabilization for the vast number of middle-class families,” Yun said.

Fed housing program encourages short sales

WASHINGTON – Dec. 1, 2009 – The Obama Administration, through the Treasury Department, announced new housing guidelines yesterday. While a series of announcements highlighted different programs, the National Association of Realtors (NAR) focused on changes that will make it easier for real estate associates to deal with short sales and “deeds in lieu of foreclosure.”

The program’s official name is the Home Affordable Foreclosure Alternatives Program (HAFA), and it’s part of an existing initiative, the Home Affordable Modification Program (HAMP). HAFA applies to loans not owned or guaranteed by Fannie Mae or Freddie Mac, which cover over half of all U.S. mortgages; however, Fannie and Freddie will issue their own versions of HAFA in coming weeks.

While HAFA’s goal is simple – increase the number of short sales and “deeds in lieu of foreclosure” by simplifying the process – the rules are complex, and it comes with 43 pages of guidelines and forms. Among other things, HAFA:

• Allows borrowers to receive pre-approved short sales terms before listing the property (including the minimum acceptable net proceeds).

• Prohibits servicers from requiring a reduction in the real estate commission agreed upon in the listing agreement (up to 6 percent).

• Requires borrowers to be fully released from future liability for the first mortgage debt (no cash contribution, promissory note, or deficiency judgment is allowed.)

• Provides financial incentives: $1,500 for borrower relocation assistance; $1,000 for servicers to cover administrative and processing costs; and up to $1,000 for investors.

The program does not take effect until April 5, 2010, but servicers may implement it before then if they meet certain requirements. The program sunsets on Dec. 31, 2012.

For more information, read the Nov. 30 HAMP news release: https://www.hmpadmin.com/portal/docs/news/hampupdate113009.pdf

To read the complete 43-page short sale guidelines, go to: https://www.hmpadmin.com/portal/docs/hamp_servicer/sd0909.pdf