The real estate market in the Daytona Beach area is very unsettled right now, as we get close to summer. Sellers are much more realistic about value than earlier in the year. Buyers, though, still want a deal. Fewer buyers can obtain financing now because lenders are more cautious. And inventory is very high, so buyers can be choosy and take a long time to decide on a property.  For a seller to realize a good price in a reasonable period of time, he or she must be realistic about price, condition, and - above all - be negotiable. I've been a Realtor for many years in central Florida, and have gone through these cycles before. I have the experience to help you sell your property for a fair price in the Daytona area market.
Here on my site are pages with the information you will need to start thinking about what you must do to be a successful seller this year. If you are having trouble making your mortage payments, don't wait - contact me today. You have options to Foreclosure - visit my Bank-Owned Homes page for ideas.
The Importance of Staging
Your Home's Value
Free Seller Reports
Common Seller Mistakes
Bank-Owned Properties Whether or not you read all of this material, hopefully it will help you consider the changes in the market, and the value of an experienced Realtor. The days are over when you can put up your sign and double your investment. But don't get discouraged - there are still qualified buyers who are looking, and Florida will always be attractive because of the weather and amenities. When you decide you are serious about selling, hire a professional. The industry is so complex now, with so many legal issues, that you need strong representation. If you are having problems paying your mortgage, I am a CDPE (Certified Distressed Property Expert) and FSP (Five Star Professional, from Five Star Institute for Default Servicing) and am trained to help you avoid foreclosure.  Important Development:
Washington Brings About Uniform Foreclosure Instructions
By the end of 2011, foreclosures within Fannie Mae and Freddie Mac (which provider for around 90% of all of the loans in the U.S.) are required to follow the same procedures.
The bottom line is, loan servicers under the two (Fannie and Freddie) are going to be paid when they work and penalized when they do not.
These all new regulations will direct servicers to access people much earlier, converse with greater regularity and clearly, and provide relief.
Here is a brief review of the changes under the new guidelines:
 | Loan servicers can't assist homeowners on their loans while on the other hand moving forward with a foreclosure, called a “dual track” by FHFA. | | Loan servicers must contact homeowners once they become behind and focus solely on remediating that delinquency. Providing the borrower and servicer are involved in a good-faith effort to eliminate the delinquency, a foreclosure can not move forward. | | The servicer must formally evaluate each scenario ahead of taking any measures to consider the homeowner for any foreclosure alternatives. | | Loan servicers will be paid for speed. If a loan is revised by some means within 4 months, for instance, the servicer receives $1,600. If it requires over seven months, however, the servicer gets only $400. | | Even if the property foreclosure progression has already commenced, loan servicers will be paid a financial incentive as long as they continuously assist the homeowners to find an alternative choice to foreclosure. | | There will be far fewer papers to complete thus simplifiing the procedure. It will supply the borrowers 1 application to complete in addition to the servicers 1 application to examine for all Freddie Mac loan modifications and property foreclosure options. | | | |
In addition to helping at-risk homeowners, the new policies will reduce taxpayer losses by making sure that (Fannie and Freddie) loans are maintained efficiently and fairly.
Fannie Mae and Freddie Mac will send thorough guidelines to their servicers in the second and third quarters of 2011. Contact me with any questions and let my experience bring you a good price for your home. |