| title | comments | date |
|---|---|---|
| Sold Listing at Michigan Street | 0 | Jul 29, 2010 |
| Sold Listing at 517 Spring Club Drive | 0 | Jul 29, 2010 |
| Sold Listing at 7718 Flemingwood Ct | 0 | Jul 29, 2010 |
| Sold Listing at 7718 Flemingwood Ct | 0 | Jul 29, 2010 |
| New Listing | 0 | Jul 29, 2010 |
| New Listing: 2121 DRESSAGE COVE | 0 | Jul 29, 2010 |
| CASH IS KING IN ORLANDO REAL ESTATE | 0 | Jul 27, 2010 |
| THE 10 TOP CREDIT DONT'S DURING THE LOAN PROCESS | 0 | Jul 22, 2010 |
| WHAT YOU NEED TO WATCH FOR-MORTGAGE FRAUD | 0 | Jul 21, 2010 |
| YMCA CHANGING IT'S LOOKS | 0 | Jul 21, 2010 |
Jul
29
Posted by under For Buyers, Listings, Winter Park
I’ve just sold a property at Michigan Street in Lake Mary. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.
Jul
29
Posted by under For Buyers, Listings, Winter Park
I’ve just sold a Resale - single family property at 517 Spring Club Drive in Altamonte Springs. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.
Jul
29
Posted by under For Buyers, Listings, Winter Park
I’ve just sold a Mediterranean Style property at 7718 Flemingwood Ct in Sanford. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.
Jul
29
Posted by under For Buyers, Listings, Winter Park
I’ve just sold a Mediterranean Style property at 7718 Flemingwood Ct in Sanford. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.
Jul
29
Posted by under For Buyers, Listings, Winter Park
Check out this new property that I just posted on my Web site. It is in Winter Park. Architectural plans included in price of lot, 2 story home featuring 4 bedrooms and 4 baths with additional den. Originally approved for a wall on Lake Sue side. Use Blue Dasher button to drive the neighborhood and see the lot on this listing.Beautiful oak trees line the lot and the home has been designed around them. Quaint brick street and the Winter Park lifestyle make this an attractive purchase. Downsizing but right sizing your new home is key in this market, these plans which have already been paid for do just that. Seller financing is an option.
Jul
29
Posted by under For Buyers, Listings, Winter Park
Check out this new property that I just posted on my Web site. It is at 2121 DRESSAGE COVE in Chuluota/Oviedo. 40 acre gated Equestrian Dressage estate in east Orlando, “Knoll Dressage.” Just 30 minutes from the Orlando International Airport, 20 miles off of I-95 and there are approximately 7 hotels within 10 miles of the property. Built in 2002 this state of the art facility includes 2 show barns with 22 stalls- 12×12 each equipped with 2 doors and a 12ft overhang outside. There is a 15′ isle inside each barn, two inside and two outside wash stalls all with hot and cold water, air conditioned tack rooms, laundry, baths,feed rooms and office. There are 7 furnished air conditioned apartments available for staff and/or clients, a lighted covered arena 90′x220′ with 90′ of mirrors (the arena can also be used for jumping) ,5 pastures, 6 turnout paddocks, 60′x100′ storage facility with office and bath. The estate comes with a full property self starting 150K watts generator and a caretaker/manager A-Frame cottage with garage and work bench. There is also irrigation including the pastures. Special note:there is an outside .
Jul
27
Posted by under For Buyers, For Sellers, General Information
Per ORRA (Orlando Regional Realtor Association) the percentage of real estate transactions completed on an all-cash basis has increased dramatically over the past years.
This is due to:
A significant number of investor buyers who are not able to secure financing
A significant number of properties that are ineligible for financing, such as very low priced condos and properties that need intensive rehabilitation.
All-cash Transactions
Year % if all-cash transactions
2010 51.09
2009 41.38
2008 20.26
2007 8.95
If you or anyone you know is in need of a consultation regarding real estate please contact me at 407 497-5588 or email parkertjm@aol.com You can also visit my web site at www.TeresaParker.com
Jul
22
If you or anyone you know is in the process of acquiring a loan for the purchase of a home please share this list of the top 10 credit issues with them. In this market any of these can stop your loan dead in its tracks……….
THE TOP 10 CREDIT DON’TS
DURING THE LOAN PROCESS
1. DON’T DO ANYTHING THAT WILL CAUSE A RED FLAG TO BE RAISED BY THE SCORING SYSTEM. This would include adding new accounts, co-signing on a loan, changing your name or address with the bureaus. The less activity on your reports during the loan process, the better.
2. DON’T APPLY FOR NEW CREDIT OF ANY KIND. Including those “You have been pre-approved” credit card invitations that you receive in the mail or online. Every time that you have your credit pulled by a potential creditor or lender, you lose points from your credit score immediately. Depending on the elements in your current credit report, you could lose anywhere from one to 20 points for one hard inquiry.
3. DON’T PAY OFF COLLECTIONS OR CHARGE OFFS during the loan process. Unless you can negotiate a delete letter, paying collections will decrease the credit score immediately due to the date of last activity becoming recent. If you want to pay off old accounts, do it through escrow – at closing.
4. DON’T MAX OUT OR OVER CHARGE ON YOUR CREDIT CARD ACCOUNTS. This is the fastest way to bring your scores down 50-100 points immediately. Try to keep your credit card balances below 30% of their available limit at ALL times during the loan process. If you decide to pay down balances, do it across the board. Meaning, pay balances to bring your balance to limit ratio to the same level on each card (i.e. all to 30% of the limit, or all to 40% etc.)
5. DON’T CONSOLIDATE YOUR DEBT ONTO 1 OR 2 CREDIT CARDS. It seems like it would be the smart thing to do, however, when you consolidate all of your debt onto one card, it appears that you are maxed out on that card, and the system will penalize you as mentioned above in 4. If you want to save money on credit card interest rates, wait until after closing.
6. DON’T CLOSE CREDIT CARD ACCOUNTS. If you close a credit card account, you will lose available credit, and it will appear to the FICO that your debt ratio has gone up. Also, closing a card will affect other factors in the score such as length of credit history. If you HAVE to close a credit card account, do it after closing.
7. DON’T PAY LATE. Stay current on existing accounts. Under the new FICO scoring model, one 30-day late can cost you anywhere from 50-100 points, and points lost for late pays take several months if not years to recover.
8. DON’T ALLOW ANY ACCOUNTS TO RUN PAST DUE –EVEN 1 DAY! Most cards offer a grace period, however, what they don’t tell you is that once the due date passes, that account will show a past due amount on your credit report. Past due balances can also drop scores by 50+ points.
9. DON’T DISPUTE ANYTHING ON YOUR CREDIT REPORT once the loan process has started. When yousend a letter of dispute to the credit reporting agencies, a note is put onto your credit report, and when the underwriter notices items in dispute, in many instances, they will not process the loan until the note is removedand new credit scores are pulled. Why? Because in some instances
10. DON’T LOSE CONTACT WITH YOUR MORTGAGE & REAL ESTATE PROFESSIONALS. If you have a question about whether or not you should take a specific action that you believe may affect your credit reportsor scores during the loan process, your mortgage or real estate professional may be able to supply you with the resources you may need.
The President of Credit Resource Corporation, Linda Ferrari is a leading nationwide expert in the creditreporting and scoring industry. Her expertise and knowledge of the credit industry is of the highest level, supported by more than 17,000 cases to date. Linda is a regular guest on San Diego’s 1700AM Bizradio show and she has also appeared on Fox Business
Jul
21
In this current market there are so many scams still taking place as it relates to mortgage fraud. The list below is compliments of Realtor Mag. Please don’t get caught up in any of these. It may look like a lifeline but it is not worth the risk……
1. The Foreclosure Rescue Scheme
The Scam: “Rescuers” promise cash-strapped home owners that they can save their home from foreclosure. The rescue, which involves paying upfront fees, can take multiple forms, such as the perpetrator obtaining a new loan on behalf of the owner or by having the owner sign over the home’s deed and then rent the home until they can repurchase it. Eventually, the home owner loses the home, either to foreclosure or the fictitious rescue company.
Red Flags: With foreclosure rescue programs, borrowers are often advised to sign over the title of their house to a third party, become renters of their home, not contact their lender, or send mortgage payments to a third party, according to Fannie Mae, which provides fact sheets on mortgage fraud.
2. Loan Documentation Fraud
The Scam: This fraud involves numerous schemes in which a borrower provides inaccurate financial information — such as about their income, assets, and liabilities — or employment status in order to qualify for a loan with lower rates and more favorable terms. Occupancy fraud is one growing area: Borrowers say they plan to live in the property when they actually intend to rent it.
Red Flags: Documentation may raise suspicion if the employer’s address is shown as a post office box, accumulation of assets compared to the person’s income appears too high or low, the new house is too small to accommodate occupants, the person has no credit history, or the application is unsigned or undated, according to Fannie Mae.
3. Appraisal Fraud
The Scam: A faulty appraisal — saying a property is worth more than what it really is — is connected to many types of mortgage fraud. It entails manipulating or overstating comparables, market values, or property characteristics in order to obtain a higher appraisal. The higher property appraisal, which generates false equity, is done by falsifying an appraisal document or using an appraiser accomplice to obtain the higher value.
Red Flags: Be skeptical of appraisals that are dated prior to the sales contract, list comparable sales that do not contain similarities to the property or are outside the neighborhood, the owner is not the seller listed on the contract or the title, or a third party participating in the transaction orders the appraisal, Freddie Mac warns.
4. Illegal Property Flipping
The Scam: This entails purchasing properties and reselling them at inflated prices. These scams usually involve faulty appraisals and inaccurate loan documents. The property is then refinanced or resold immediately after purchase for an inflated value. The home is purchased at a higher price, often by straw buyers working with the “flipper,” and eventually falls into foreclosure.
Red Flags: Some key things to look for are rapid refinancing of a property; the seller recently having acquired the title or acquiring the title concurrent with the transaction; an appraisal that comes in too high; a property that was recently in foreclosure being purchased at a much lower price than its sales price; or the owner listed on the appraisal and title not matching the seller on the sales contract, according to Fannie Mae.
5. Short Sales Schemes
The Scam: Borrowers owe more than the current value of their home so they fake financial hardship and no longer make their mortgage payments. An accomplice of the borrower then submits a low offer to purchase the property in a short sale agreement. The lender agrees to the short sale, unaware that it was premeditated. The property, after being purchased at the reduced price, is then often resold at the home’s actual value for profit.
Red Flags: The borrower suddenly defaults on the mortgage with no workout discussions with the lender, an immediate offer is made to a lender at a short sale price, the short sale offer is less than current market value, or a cash back is offered at closing to the delinquent borrower (disguised as “repairs” or other payouts, for example) and is not disclosed to the lender, according to Fannie Mae.
If you are looking for a professional consultant when purchasing Real Estate, please contact me www.TeresaParker.com or email parkertjm@aol.com
You can report instances of suspected mortgage fraud to Stopfraud.gov.
Jul
21
Posted by under For Buyers, For Realty Professionals, For Sellers, General Information
27 locations will be changing their look as part of a new national new rebranding initiative.
YMCA of Central Florida for the first time in 43 years, the YMCA is unveiling a new brand strategy, including a new logo, to increase understanding of the impact the organization makes in the community, according to a YMCA of Central Florida release.
The rebranding effort aims to help communities learn more about the YMCA’s work by simplifying how it describes its programs focused on youth development, healthy living and social responsibility.
The YMCA of Central Florida is one of the area’s largest nonprofits, serving 25,000 residents daily. In 2009, it had more than 1,800 employees in six Florida counties and provided $8.2 million in financial assistance to children and families.
Read more: YMCA locations to change look, branding - Orlando Business Journal
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