Tuesday, September 21, 2010

bank of america and wells fargo finally agreed today! Another short sale successfully closed in Bradenton

It is always a good day when we close a successful short sale transaction. This one in Heritage Harbour in east bradenton,  was a wells fargo first mortgage and a second mortgage with Bank of America. 

What was unique about this deal was how challenging the two lenders were to get to an agreement.  The time frame for approval from contract date to bank approval was 93 days.  Pretty typical time frame for a short sale with Wells Fargo. 

What was illogical to me was wells fargo not cooperating with the second position lender (bank of america) to  work out a solution for settlement.  Getting these two banks to agree took a few weeks.  In the end the second lender agreed to the terms of the first. 

Wells Fargo only took a loss of 10% of the mortgage amount, yet they challenged the second lenders approval payoff who took a loss of over 90%

Here is a typical time-line.  Offer is submitted to both lenders bank of america and wells fargo.  Bank of America was first to conditionally approve the sale, with a demand for a settlement of X.  Meanwhile, Wells Fargo approves the deal, subject to bank of america accepting a 3,000 dollar payoff.

3,000 dollars was a fraction of the balance of the bank of america loan.  So then the process of getting these two lenders to come to a compromise.  Wells Fargo was unreasonable to the second lender to bank of america.  And Bank of America was crazy to think that wells fargo, would allow for a larger than typical payoff.

Perhaps it was the Bank of America's first short sale negotiation. LOL!

The end justify the means, and in this case, my seller was able to avoid a foreclosure and sell his home.  The buyer got a great deal on a great short sale in bradenton

My suggestion for anyone considering short selling their home in Bradenton or Sarasota is to make sure you have patience, a great real estate agent, and a dedicated attorney all working together to get the sale approved, and closed.

 

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When you need the help of a FULL-TIME, Top-Producing, agent in Manatee County please now I am here to help.

Call/Text/email me anytime.  I am an experienced agent that can deal with short sales, bank owned homes, vacation homes, and everything in between.

Joe Murphy, Broker-Associate 

Coldwell Banker Residential Real Estate

941-780-3260 cell

941-840-0150 office

joe@manateemoves.com

www.manateemoves.com
Joseph C. Murphy, Broker-Associate, BS, Previews Certified


Coldwell Banker Residential Real Estate
11215 State Road 70 Suite 105
Lakewood Ranch, FL 34202

941-780-3260 cell/text
941-739-6777 office
941-739-9120 fax

Posted via email from Joe Murphy Knows Real Estate in Bradenton

Monday, September 20, 2010

Sarasota Condo in the Villagio Complex ground level lake view

1050 Villiago Circle Unit 106 Sarasota, FL  34237

MLS # A3932182

This is a very nice condition short sale in the Viliago Condos near Tuttle and Fruitville.  The Villiago condos are a grated community with a superb location for those seeking a central sarasota address.  If you are looking for a condo in the downtown sarasota area for less than a 1/3 of the cost new, Then you have to come and see this one.

The owners have kept the unit well maintained, and have upgraded the kitchen, and the baths with nice granite counter tops.  The living area feature a neutral tile, and there is a nice lake view off the front porch area.

If you are looking for a great buy condo in sarasota then call Joe Murphy today to see this great sarasota condo in the villiago complex.  941-780-3260. 

Complete details can be found on the web site www.manateemoves.com

 

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When you need the help of a FULL-TIME, Top-Producing, agent in Manatee County please now I am here to help.

Call/Text/email me anytime.  I am an experienced agent that can deal with short sales, bank owned homes, vacation homes, and everything in between.

Joe Murphy, Broker-Associate 

Coldwell Banker Residential Real Estate

941-780-3260 cell

941-840-0150 office

joe@manateemoves.com

www.manateemoves.com

Joseph C. Murphy, Broker-Associate, BS, Previews Certified


Coldwell Banker Residential Real Estate
11215 State Road 70 Suite 105
Lakewood Ranch, FL 34202

941-780-3260 cell/text
941-739-6777 office
941-739-9120 fax

Posted via email from Joe Murphy Knows Real Estate in Bradenton

Sarasota Condo in the Villagio Complex ground level lake view

1050 Villiago Circle Unit 106 Sarasota, FL  34237

MLS # A3932182

This is a very nice condition short sale in the Viliago Condos near Tuttle and Fruitville.  The Villiago condos are a grated community with a superb location for those seeking a central sarasota address.  If you are looking for a condo in the downtown sarasota area for less than a 1/3 of the cost new, Then you have to come and see this one.

The owners have kept the unit well maintained, and have upgraded the kitchen, and the baths with nice granite counter tops.  The living area feature a neutral tile, and there is a nice lake view off the front porch area.

If you are looking for a great buy condo in sarasota then call Joe Murphy today to see this great sarasota condo in the villiago complex.  941-780-3260. 

Complete details can be found on the web site www.manateemoves.com

 

twitter accountFacebook Profilelinkedin profile

When you need the help of a FULL-TIME, Top-Producing, agent in Manatee County please now I am here to help.

Call/Text/email me anytime.  I am an experienced agent that can deal with short sales, bank owned homes, vacation homes, and everything in between.

Joe Murphy, Broker-Associate 

Coldwell Banker Residential Real Estate

941-780-3260 cell

941-840-0150 office

joe@manateemoves.com

www.manateemoves.com

Joseph C. Murphy, Broker-Associate, BS, Previews Certified

Coldwell Banker Residential Real Estate
11215 State Road 70 Suite 105
Lakewood Ranch, FL 34202

941-780-3260 cell/text
941-739-6777 office
941-739-9120 fax

Posted via email from Joe Murphy Knows Real Estate in Bradenton

Sarasota Condo ground level built in 2002 nice lake view $81,500

1050 Villiago Circle Unit 106 Sarasota, FL  34237

MLS # A3932182

Short Sale

This is a very nice condition short sale in the Viliago Condos near Tuttle and Fruitville.  The Villiago condos are a grated community with a superb location for those seeking a central sarasota address.  If you are looking for a condo in the downtown sarasota area for less than a 1/3 of the cost new, Then you have to come and see this one.

The owners have kept the unit well maintained, and have upgraded the kitchen, and the baths with nice granite counter tops.  The living area feature a neutral tile, and there is a nice lake view off the front porch area.

If you are looking for a great buy condo in sarasota then call Joe Murphy today to see this great sarasota condo in the villiago complex.  941-780-3260. 

Complete details can be found on the web site www.manateemoves.com  mls # A3932182

 

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When you need the help of a FULL-TIME, Top-Producing, agent in Manatee County please now I am here to help.

Call/Text/email me anytime.  I am an experienced agent that can deal with short sales, bank owned homes, vacation homes, and everything in between.

Joe Murphy, Broker-Associate 

Coldwell Banker Residential Real Estate

941-780-3260 cell

941-840-0150 office


Posted via email from Joe Murphy Knows Real Estate in Bradenton

Friday, September 17, 2010

Market update report for Manatee County Florida August 2009

Sales have been picking up in bradenton, fl.  Manatee county real estate sales in August were up compared to July.  Interesting since this is supposed to be the slowest time of the year!

Inventory is staying pretty level with 4800 homes and condos for sale in Manatee county.

Pending sales have spiked 27% from July! I can attest to the increase in activity with mulitple offers common.

This past week I sold two homes for above the listing price.

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When you need the help of a FULL-TIME, Top-Producing, agent in Manatee County please now I am here to help.

Call/Text/email me anytime.  I am an experienced agent that can deal with short sales, bank owned homes, vacation homes, and everything in between.

Joe Murphy, Broker-Associate 

Coldwell Banker Residential Real Estate

941-780-3260 cell

941-840-0150 office

joe@manateemoves.com

www.manateemoves.com

Posted via email from Joe Murphy Knows Real Estate in Bradenton

Thursday, September 16, 2010

I withdrew a short sale listing today. I couldn't be happier!

I listed a home this past week in Bradenton, and really she didn't want to sell it.  Those are the toughest appointments.  It's one thing when the seller wants to move, or has too.  But when a seller really loves their home having to put them on the market is not pleasant.  In Bradenton and Sarasota foreclosures and short sales are now accounting for more than 60% of the transactions.  If we can lower the amount of people having to list that would rather stay it will help stabilize the market's downward path.

After seeing her situation a loan modification really made a lot more sense for her.  She was previously denied, but I encouraged her to "try one more time".  Since the new HAFA and HAMP program. I thought it was worth a shot.  She had two liens, and had been denied on two prior attempts due to insufficient income to qualify.  Well, my answer was to try again based on what her income really is, and with a clearly stated hardship try again. 

To her, and her attorney's surprise, they approved a loan modification that put the arrears at the end of the loan, lowered her interest rates to 2% interest only, and 4.5% fixed thereafter.  WOW! 

 I am glad that this one fell through, for her sake.  Her payment is now lower than what she would have spent to rent an inferior home.  The neighbors are happy since this means one less short sale or foreclosure pulling down property values in her Bradenton, fl home.

If you are facing financial hardship, and you want to keep your home my advice is you fight for it.  Right now in Sarasota and Bradenton there are over 26,000 homes in some stage of foreclosure.  If you want to get a loan modification keep at it.  Common sense says that banks like chase get a benefit from doing a loan modification versus a foreclosure and even a short sale.  Sometimes we all jut need a little confidence

Here is her note that she left on my facebook. 

"Joe Murphy was recommended to us by a friend. After meeting with Joe we where impressed by his knowledge, honesty, straightforwardness, and his willingness to discuss all our options. Joe brought to our attention all the money, time, and hard work we had put into making this house our home. Joe Murphy is the man who gave us the knowledge and courage to fight for what we had worked so hard for. Had it not been for Joe giving us the confidence to do what was needed to save our home and financial future we would be renters with a scarred credit record that would follow us for years to come. Joe Murphy is not just a Realtor, he is a good man and friend who helped us make a good financial decision and for that we will be forever grateful. If you are looking for someone who is not just a Realtor but is a family man with a conscious then Joe Murphy is your man, he is ours and will be for years to come. Thank you Joe!"

If you need help with a short sale or loan modification here in Sarasota or Bradenton please feel free to give me a call.  Joe Murphy, Realtor, Coldwell Banker Residential. Short Sale expert for Sarasota and Bradenton.

941-780-3260

When you need the help of a FULL-TIME, Top-Producing, agent in Manatee County please now I am here to help.

Call/Text/email me anytime.  I am an experienced agent that can deal with short sales, bank owned homes, vacation homes, and everything in between.

Joe Murphy, Broker-Associate 

Coldwell Banker Residential Real Estate

941-780-3260 cell

941-840-0150 office

joe@manateemoves.com

www.manateemoves.com

Posted via email from Joe Murphy Knows Real Estate in Bradenton

Wednesday, September 15, 2010

sometimes we all need to gain some perspective when we get overwhelmed

Check out this interesting power point presentation.  I was sent this by my mother. Mom always knows best! It Astonomy 101.  Amazing pictures of outer space as seen from the Hubble telescope.   I love anything to do with space.  Let me know what you think.

When you get a perspective of how big the universe is the day to day problems that we have that seem insurmountable become a little trivial..  

I think that we all need to step back from the stressful world we live in and take stock in what really matters.  

This slide show did that for me.  Perhaps it will help you reduce your stress, and gain valuable perspective on your life.

 

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When you need the help of a FULL-TIME, Top-Producing, agent in Manatee County please now I am here to help.

Call/Text/email me anytime.  I am an experienced agent that can deal with short sales, bank owned homes, vacation homes, and everything in between.

Joseph C. Murphy, Broker-Associate, BS, Previews Certified

Coldwell Banker Residential Real Estate
11215 State Road 70 Suite 105
Lakewood Ranch, FL 34202

941-780-3260 cell/text
941-739-6777 office
941-739-9120 fax

Posted via email from Joe Murphy Knows Real Estate in Bradenton

Monday, September 13, 2010

panther ridge 5 acres 3 bedroom pool home perfect condition

M5816134

Just listed in the Panther Ridge area of East Bradenton this is a updated, and immaculate home sitting on a well maintained 5 acre parcel.  The 5 acres of land is mostly fenced, and features a nice stocked pond.  Well drained, and with almost all thhe property usable, this would make an ideal site for someone that is ready to play farmville in real life!

 

The home was built in 1997 by the custom, local builder, Mark Cahill.  It is a Ranch layout, with 3 large bedrooms, a den, formal dining room, living room, and large family room off the kitchen.  The home has had many updates and upgrades including a new A/C system, granite counter tops and updated appliances.

 

The family room has a nice wood buring fireplace.

You will enjoy relaxing by the pool while the outdoor kitchen will inspire that inner grill master. M5816134 is the MLS number for this great Lakewood Ranch area home with no restrictions, and no HOA fees.

5902 225th st is also not a short sale.  Realistic sellers have priced this home to sell, and are motivated.  No long waiting periods waiting for a bank response. 

If you are looking for a east county home with the location near Lakewood Ranch, but with no deed restirictions then this is a must see bradenton acreage home.

For even more details and info please check out my web site www.manateemoves.com to see the virtual tour, high definition video, and over 50 photos. 

If you are looing for a realtor iin bradenton and sarasota make sure to talk with Joe Murphy.  A leading real estate agent in sarasota and bradenton.

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When you need the help of a FULL-TIME, Top-Producing, agent in Manatee County please now I am here to help.

Call/Text/email me anytime.  I am an experienced agent that can deal with short sales, bank owned homes, vacation homes, and everything in between.

Joe Murphy, Broker-Associate 

Coldwell Banker Residential Real Estate

941-780-3260 cell

941-840-0150 office

joe@manateemoves.com

www.manateemoves.com

 Joseph C. Murphy, Broker-Associate, BS, Previews Certified

Coldwell Banker Residential Real Estate
11215 State Road 70 Suite 105
Lakewood Ranch, FL 34202

941-780-3260 cell/text
941-739-6777 office
941-739-9120 fax

Posted via email from Joe Murphy Knows Real Estate in Bradenton

Monday, September 06, 2010

Lakewood Ranch 4 bedroom pool home with a lake view- former model home.

Lakewood Ranch lake view pool home with 4 bedrooms, 3 full baths, and a pool and southern lake view that can't be beat. MLS #M5815919  Priced realistically too the market at 375,000.  This is not a short sale or foreclosure home.  I dare you to find a home in better condition in this price range and in Lakewood Ranch. 

This home really is a"Perfect 10". It was a model, and sits on a premium southern rear exposure lot in Greenbrook Village of Lakewood Ranch.  Being a former model home you get all the added extras that most homes miss. For example, this house has a full intercom, and sound system.  Gas and Solar heated hot water, and both Gas and Solar heating for the pool. 
 
The owners just updated the A/C to a top of the line 20 seer rated Trane System.  Five years of service contract convey to the new owners.
 
The home is available fully furnished, minus a few items.  So you can have it the way you see it. 
 
Did I mention this is a Normal Sale?  No waiting for bank approval with a typical short sale. No bidding wars or runaround from a typical bank owned sale either.  Seller is realistic, and motivated for a quick sale.  Closing can be flexible too. 

The pool has an infinity edge, so it blends in with the water view. Plenty of sun all year on the screened lanai with plenty of deck space to enjoy the sun and the pool.

Check out the HD Video tour of the home, and the numerous photos I have on my real estate web site for lakewood ranch New on the Market. Former Homes by Towne Model. 4BR/3B + large bonus room! Split plan, private master overlooking the lake and pool.
 

Granite counter tops in the bright kitchen. Formal living and dining rooms.Mature landscape, Infinity pool with lighting. Exquisite window treatments in all rooms are included. Designer furnishings may be purchased separately. New A/C installed late '09 - 5 yr warranty, solar panels.

MLS NUMBER M5815919
 
 
 
 
Looking for help buying or selling in Lakewood Ranch? Joe Murphy can help you with all your real estate needs. Short sales, foreclosures, and everything else. joe Murphy is an expert realtor in bradenton, sarasota and lakewood ranch.

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When you need the help of a FULL-TIME, Top-Producing, agent in Manatee County please now I am here to help.

Call/Text/email me anytime.  I am an experienced Real Estate agent in Sarasota and Bradenton that can deal with short sales, bank owned homes, vacation homes, and everything in between.

Joe Murphy, Broker-Associate 

Coldwell Banker Residential Real Estate

941-780-3260 cell

941-840-0150 office

joe@manateemoves.com

www.manateemoves.com

 

Posted via email from Joe Murphy Knows Real Estate in Bradenton

Wednesday, September 01, 2010

palmetto short sale 4 bedroom pool home 3 car garage

Just listed for 170,000.  This is a 2006 built home in Palmetto, FL.  It's a short sale.  It has 4 bedrooms, 2 bathrooms, and a 3 car garage.  Nice caged pool, and large fenced back yard.


Worth a look if you are looking for a newer home in Palmetto Florida.  Needs al little TLC, but it is spacious, and has a great open floorplan and is realistically priced too.

for more info check out my my real estate blog for manatee county

When you need a short sale expert whether buying or selling.  Call Joe Murphy, Real Estate Agent in Manatee County.  Short Sale Expert with dozens of successfully closed short sale transactions.  
Joe Murphy, Broker-Associate
Coldwell Banker Residential Real Estate.

www.manateemoves.com

Thanks,

Joseph C Murphy, P.A.
Broker Associate with Coldwell Banker Residential Real Estate
Awarded Five Star Agent for 2004-2009
Member of the Top 100 CB agents for Florida 5 years
941-780-3260 cell/text
www.manateemoves.com
joe@manateemoves.com
Interested to know what your home is worth?


Posted via email from Joe Murphy Knows Real Estate in Bradenton