Beautiful Upgraded Pool Home on a Cul De Saq Lot
Great Family Home! Beautifully Upgraded Pool Home in desirable Shenandoah Community in Western Davie. This lovely home has 4 bedrooms, 2.5 baths, 2460 sq feet under air. The kitchen is updated with 42″ cabinets and granite counter tops, with a bay window in the kitchen eat-in area. There is a formal living room, formal dining room and separate family room. Updated flooring throughout, Hurricane shutters, 3 zone sprinkler system, and in-ground pool with child safety fencing.
Price just reduced for a quick sale to $349,900. Contact Cathie Truman at 754-214-3963.
Is Bank of America’s Offer to Reduce Delinquent Borrower’s Mortgages Fair?
Bank of America will soon be sending some 200,000 letters to struggling homeowners offering to reduce the amount they owe on their mortgages. But is Bank of America’s Offer to Reduce Delinquent Borrower’s Mortgages Fair to the rest of us?
To those of us who have struggled to pay our mortgages throughout this lengthy recession, Bank of America’s offer certainly doesn’t seem fair. Most borrowers have watched their equity completely evaporate and continue to fall well below what they owe. Some borrowers have gone through all their savings, retirement accounts and gone as far as borrowing from relatives to honor their commitment to pay their mortgages. To them, this offer is infuriating.
Bank of America agreed to pay some $11 billion in a deal with the 50 state attorneys general and the U.S. Department of Justice, committed to mortgage principal reduction. Executives say they will go beyond that if enough borrowers respond to their offer. Five thousand borrowers have already received a collective $700 million in principal reduction through a pilot program for those already in a modification negotiation.
Why is this offer only being made to delinquent borrowers? I guess they were the smart ones, they stopped paying their mortgage.
Delray Beach Condo for Rent
One bedroom, one and a half bath villa style condo for rent in lovely retirement community in Delray Beach, Florida. Beautifully furnished, clean and spacious, nearly 1,000 square feet. Watch the video then call Timothy P Smith PA at 954-817-4361
Banks Offering Quicker Short Sale Programs
Major lenders are offering homeowners a quicker short sale program in lieu of foreclosure. These new programs should prioritize short sales over foreclosures in an effort to help stabilize the housing market.
New Quicker Short Sale Program Requirements:
- Homeowner agrees to maintain the property
- Homeowner agrees to work with a real estate professional
- Homeowner agrees to let lender set fair market value through an appraisal paid for by the lender
- Homeowner agrees to put the house on the market at fair market value with a real estate professional
Benefits to the Homeowner:
- Streamlined process – 40 to 45 days is possible
- Reduced documentation
- Some lenders are offering cash incentives of $10,000, $20,000 or more to the homeowner
Short Sales What Buyers Should Expect
Short sales and bank owned property make up a large portion of the homes for sale in South Florida, including Broward County Florida. That’s good news for buyers who want the opportunity to get a nice home at a reduced price.
Problems arise during the short sale process if buyers do not understand this time-consuming process. Buyers need to know if a property is offered for sale as an approved or unapproved short sale. Approved short sales are easier. Here is what buyers making an offer on an unapproved short sale may go through.
What Short Sale Buyers Should Expect
- Initially, you will be dealing with the Seller and they must accept your offer before your offer can go to the bank.
- Once the seller accepts the offer and a contract is signed and dated by all parties, the offer goes to a short sale negotiator.
- The short sale negotiator will go over the forms submitted and check the specific requirements of each lender or agency with liens against the property.
- Expect the negotiator to send additional forms to be signed and returned by both parties. Depending on the lender, mortgage insurer and investors involved this may take 30 days or more before the file is ready to go to the bank.
- Once the file is submitted to the bank, they review it and may also ask for additional forms to be signed by both parties.
- If the bank is satisfied they have all the necessary forms, they will order a BPO – Brokers Price Opinion. Similar to an appraisal. The bank must pay to have the BPO done, so at this point the short sale is progressing nicely.
- If the price you offered is supported by the BPO, the bank should approve the short sale. If not, the bank may send a counter offer.
- You must respond to the counter offer within a few days or risk losing the house.
- Once the short sale is approved, the buyer must apply for their mortgage commitment and get all inspections done.
- At this point the process has taken 60 to 90 days or more.
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New Home Community In Davie
These custom built homes in Davie Florida were built by an independent builder who prides himself on quality work and giving more than his competition at a better price. There are only 10 lots left in this lovely community. Contact us today for more information. 954-370-7291
This video below is from a new owner whose home is in the process of completion.
Want a new home built for you? Call Timothy P Smith PA 954-370-7291 for more info.
Building a Custom Home vs Builder Model Homes
Builders buy up large tracts of land to create a subdivision, or several subdivisions. They offer buyers a choice between several different model homes with varying amenities; such as:
- Ranch style 1 story
- 2 story
- 1, 2 or 3 car garage
- 2, 3, 4 or more bedrooms
- family rooms
- offices
- patios and courtyards
The main differences are obvious. Building your own home gives you the leverage to determine every aspect of the home, the exact design, how big it will be, the type of roof, size of the rooms, custom amenities, etc. When buying from a builder you will only have a few models and approved options to choose from.
This builder is offering customized homes for $410,000, thousands less than area competition. Call us for more information on this 954-370-7291
Benefits of Living in Weston
Weston is the most desirable community in Broward County Florida. The reasons are varied but include:
- World Class Golf Course
- Easy access to highways
- Well planned communities
- Intelligent Integration of Commercial and Residential properties
- Wide variety of Community Programs
- Tremendous value for the money
New Homes in Davie, Cooper City Area
Brand new homes for sale in the Davie Cooper City Area with some terrific buyer incentives. For buyers looking for a top quality home in a gated community with tons of amenities. Prices start at $500,000.
New Homes in Broward County in the $400,000
This video moves quickly from room to room, the narration explains all the features of the house in general.
Call Dee Vanover to schedule a showing 954-370-7291
4 or 5 Bedroom Pre-Construction Homes for Sale in Davie
4 or 5 Bedrooms, 3 bath, 2 car garage homes with over 2,700 square feet under air and 3,400 square feet total in Davie – Cooper City area. Terrific value for just $409,000. Owners can choose their tile, appliances, cabinets, layout and colors.
Amenities include:
- Vaulted Ceilings
- Knock-Down Texture walls and Ceilings
- Paver Driveways
- S Tile Roof
- Granite counter tops
- Top line appliances
- Tile floors
- Rounded corners
- Split Bedrooms
- Pantry
- Foyer
- 1 story
- Walk-in Closets
- Roman Tubs
- Large Lots
- Many more extras
