Renters: Be Very Careful Today

When you’re renting a house and discover that the property owner is facing foreclosure, you might wonder, “What happens now?”

First, be careful that you aren’t paying rent to some one who has stopped making mortgage payments. This is sometimes very difficult to determine on your own, however, you should be able to ask the owner for proof of payments. In today’s market there have been quite a few renters sending money to a landlord who has stopped paying the mortgage and just waiting for the bank to take over the home. As the wronged party, you can sue the landlord, but it’s an expensive proposition and since the owner went into foreclosure, they probably don’t have enough assets to get a judgment to recoup your losses.

So what happens when the bank takes over the property you are currently renting? In most cases a representative of the bank will notify you that they now have the deed and will ask (sometimes not so nicely) that you move out of the premises in 30 days. On occasion some of the better run companies will give you 60 days to make arrangements and move out.
As for your security and any other deposits you may have made, unless you rented from a property management firm, you are most likely out of luck, unless the owner is willing to give them back to you, but remember, his home was just seized by the bank for lack of money/assets so there’s a very high probability that you won’t be receiving your deposit. If you were smart enough to rent a home from a property manager you should be able to get your deposits returned according to the agreements since they are required by law to put such funds into an escrow account.

Unfortunately having a lease is no protection in the event of a foreclosure, with the bank taking possession of the property. In fact, you can get into serious difficulties should you refuse to vacate the home. In such cases, the bank will commence eviction procedures and this will result in a downgrade of your credit score making it even more difficult to find adequate housing.
So, please be aware of your situation and if you are contemplating a new rental home, it’s a very good idea to go through a reputable property management firm.

Understanding real estate dilemmas and their solutions is our business, and we’ll happily share our knowledge with you. Why not give us a call at (772) 323-6996 or visit us on the web at http://www.gabesanders.com/ and http://www.treasurecoastflhomes.com/. Our office is located at 1121 SE Ocean Blvd. in Stuart Florida; please ask for Gabe Sanders or .

HOT SALES IN COOL MARKETS!

While some segments of our local real estate markets are experiencing increasing listing times and decreasing sales, others are showing signs of doing well. Regardless of which applies, how do you position yourself for a quick, full-price sale? Even in slow markets, some houses sell quite quickly, and it’s for the very same reasons that they would in a hot market.

The best performers these days are homes with a minimum of three bedrooms and two baths. In addition to those features, they are priced a few thousand dollars below the area’s average asking price.

You won’t consider competitive pricing a concession when offers come in more quickly and with less negotiation. Peace of mind and a quick sale are more than worth the difference between your asking price and that of your competition.

The second common denominator among successful sales in slow markets is the fact that the properties show like model homes. Sure, location is critical, but it’s condition, condition, condition that helps to set your offering apart from other homes on the market at the same price.

The final factor these sales share? Aggressive targeted marketing by full time real estate professional. A professional who shows your home to an already qualified and motivated group of buyers is worth his or her weight in gold at the closing table. Combine price, condition, and marketing for a satisfying sales result!

If you’re planning to sell your home soon and would like accurate and up to date information on its current value, give us a call at (772) 323-6996 or visit us on the web at http://www.gabesanders.com/ or http://www.treasurecoastflhomes.com/. Our office is located at 1121 SE Ocean Blvd. in Stuart, (Sewall’s Point) Florida; please ask for Gabe Sanders or .

Price Reduced on 5269 SE Jennings Ln. in Martin’s Crossing, Stuart Florida

Martin’s Crossing, Stuart – Announcing a price reduction on 5269 SE Jennings Ln., a 1,276 sq. ft., 2 bath, 2 bdrm 2 story “Townhome”. Now $154,320 – Price Drastically Reduced.

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TIMING ISN’T EVERYTHING!

In light of declining sales and tougher loan requirements, many potential buyers are asking if they should buy now, or wait several months before moving forward with a decision. The thing is, you can’t time the real estate market any more than you can time the stock market. Simply put, the best time to buy is simply when you need to do so.

Start searching now, targeting your preferred locations and getting a sense of the local trends. Speak with local realty professionals to gauge listing times, list-to-sale ratios, and contract terms. There’s no such thing as a “national” market, and every area is going through its own adjustments, up or down.

Now isn’t a bad time to begin your loan search as well, to determine how much home you can afford, and to start assembling the required paperwork. If you’re not pressured to move right now, securing loan pre-approval will give you the chance to immediately take advantage if an excellent purchase opportunity appears.

Owners who are pressured to sell for reasons like foreclosure or job relocation may be more willing to negotiate, but if you really love a particular home, don’t lose it by haggling over a few thousand dollars. A home is not a stock certificate. In a buyers market, take your time, do your homework, and make the most of it.

If you’re considering purchasing a home, but feel ‘out of touch’ with what’s happening in real estate give us a call today at (772) 323-6996 or visit us on the web at www.GabeSanders.com or www.TreasureCoastFLHomes.com. Our office is located at 1121 SE Ocean Blvd. in Stuart, (Sewall’s Point) Florida; please ask for Gabe Sanders or .

Price Reduced on 700 SE Madison Ave. in Stuart, FL

Stuart, FL off of East Ocean – Announcing a price reduction on 700 SE Madison Ave., a 2,500 sq. ft., 2 bath, 3 bdrm single story “Mostly CBS Construction”. Now $189,000 – Fabulous Potential.

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