Apr 17

My Mobile Marketing Platform

In addition to all my marketing on social media.
I also use this platform to market real estate in the Tampa Bay Area.

Do you want to know what your home is worth?

Fill in this info form and I will send you a copy by email. < Click Here

Looking to purchase a home in this Zip Code or any other Tampa Bay Area.

Fill in this info form and I will send you listings by email. < Click Here

Shared By:

Tom Scaglione, ePRO, SFR, REALTOR
Future Home Realty

Cell: 813-310-8200
Web: TampaMobileRealty.com

 

Apr 16

Social Media Marketing:

Facebook: Tom Scaglione

Facebook: Tampa Bay Real Estate Market

Facebook: Florida Waterfront Listings

Facebook: Florida Million Dollar Homes

Facebook: Going Short Sale

LinkedIn: Tom Scaglione, ePRO, SFR, REALTOR

Twitter: @TomScaglione

YouTube:Tom Scaglione’s Chanel

Pinterest: Tom Scaglione

Vimeo: Tom Scaglione

Blog: Real Estate Tampa Bay Blog

Do you want to know what your home is worth?

Fill in this info form and I will send you a copy by email. < Click Here

Looking to purchase a home in this Zip Code or any other Tampa Bay Area.

Fill in this info form and I will send you listings by email. < Click Here

BlogTopPhoto

Shared By:

Tom Scaglione, ePRO, SFR, REALTOR
Future Home Realty

Cell: 813-310-8200
Web: TampaMobileRealty.com

 

Apr 16

Neighborhood Report Zip Code 33558

Do you live in this zip code?
Click on Image Below for the Report.
33558.Neighborhood.Report
Do you want to know what your home is worth?

Fill in this info form and I will send you a copy by email. < Click Here

Looking to purchase a home in this Zip Code or any other Tampa Bay Area.

Fill in this info form and I will send you listings by email. < Click Here

Shared by:

Tom Scaglione, ePRO, SFR, REALTOR
Future Home Realty
Cell: 813-310-8200
Web: TampaMobileRealty.com

Apr 16

Zestimate Accuracy in Your Area

Zillow is very transparent about the accuracy of their data. If you click on the Zestimate, there is a link to view the accuracy at the county level. Click the state then select the county. In Alabama, the Zestimate is only accurate to within 5% of the of the property value 1 in 4 times. 40% of the time, it is not accurate to within 20% of the property value. Some counties are better than others. A lot depends on the data quality, the property type, and the churn of properties for sale. More data equals greater accuracy.

ZestimateMedianErrorRate

For Printable Report Click Here

Report will open in a PDF file for you to print or save.

Do you want to know what your home is worth?

Fill in this info form and I will send you a copy by email. < Click Here

Looking to purchase a home in this Zip Code or any other Tampa Bay Area.

Fill in this info form and I will send you listings by email. < Click Here

Shared by:

 Tom Scaglione, ePRO, SFR, REALTOR

Future Home Realty, Inc.

Cell: 813-310-8200

email: Tom@TampaMobileRealty.com

Web: TampaMobileRealty.com

 

Mar 21

Short Sale Info Part 8

A Short Sale Synopsis

Considering the current state of today’s real estate market, short sales are going  to become common occurrence. Being familiar with them and the process of achieving them is going  to be an important benefit  to those in the industry.

A mortgage servicer may be willing  to pursue an arrangement of this kind in a foreclosure situation, provided the sale of the property has not been completed. Even FHA and VA servicers will often consider a short sale, provided they can comply with the insurers’ or guarantors’ guidelines.

When listing a property where a review of the seller’s financial circumstances reveals that a short sale may be necessary, a market analysis will further help  to determine if the seller will need  to bring funds  to closing. If this is the case, and those funds are not available  to your seller, then process of requesting a short sale should begin.

Your listing agreement should have a cancellation clause in the event you cannot complete a short sale arrangement with the mortgage servicer. An example of such would be “Seller may cancel this agreement prior  to the ending date of the listing period without advance notice  to broker, and without payment of a commission or other consideration, if the property is conveyed  to the mortgage insurer or the mortgage holder”. In addition, the agreement should be subject  to the lien holder’s approval of the short sale.

The seller will need  to provide the lender with financial information  to prove that the seller does not have the ability or the assets  to bring funds  to the table. This typically includes copies of recent pay stubs, federal income tax returns, a financial hardship letter, a preliminary HUD statement, and a copy of the contract. (Occasionally the lender will start the process before the contract stage. In this case a market analysis will be required.) In addition, some lenders may require reviewing a copy of the appraisal. They are looking  to verity that the value truly is not there.

When there is a second mortgage on the property, the process becomes a little more difficult. The first lien holder has the ability  to wipe out the second mortgage debt in the foreclosure, and therefore may be reluctant  to give up a portion of their payoff so that the second mortgage lien holder can also receive funds.

There is a motivating factor for mortgage servicers and lenders  to participate in a short sale. A foreclosed loan can reflect negatively on their history, and their standing with FNMA and others. Given the choice, they often would rather work out a short sale, taking less on the payoff and avoiding the negative effects of a foreclosure.

According  to HUD, short sales account for approximately 50% if all pre-foreclosure arrangements with conventional loans. Since these types of lenders are more familiar with the process, it tends  to be the preferable option. The requirements are not as stringent as FHA may be. All parties are involved in the approval, including FNMA, Freddie Mac and PMI.

FHA insured mortgages have additional basic guidelines. They include:

  • Payments must be at least 2 months behind

  • Property must be owner occupied

  • The reason for the default must be unavoidable, involuntary, or beyond the homeowners control

  • The house must appraise for at least 70% of the unpaid principal balance

  • The contract price must be at least 95% of HUD’s appraised value

  • The net amount  to the lender after all closing expenses must be at least 87% of HUD’s appraised value

  • There may be a pre-foreclosure sale incentive of $1,000.00

 VA guaranteed mortgages do not have set guidelines. A review will be conducted  to determine which situation will be more advantageous  to them, the short sale or foreclosure.

 It could take as much as sixty days for a short sale request  to be processed. Be sure  to allow for that time period on the contract. And, since you are working with a seller in financial difficulty, a preliminary title search would be recommended. If there are additional liens that will need  to be paid at closing, the approval of the short sale could be compromised.

The mortgage servicers will allow real estate commissions  to be paid, but often will require that the percentage  to be reduced  to 5% of the purchase price. And, of course, it is important  to remember that the seller will not be receiving any proceeds from the sale as the lender will require that 100% be given  to them for the payoff.

The IRS will be advised that a short sale has occurred. There may be additional tax liability for the seller, and they often are not aware of this possibility. In addition, some loan servicers may place a deficiency judgment against them for the unpaid balance. It is important  to inquire as  to this possibility when pursuing a short sale.

The impact the seller’s credit is lessened by a short sale. The mortgage will show as satisfied, but not completely paid out. A foreclosure is far more damaging.

Coordinating and successfully achieving a short sale can be time consuming and difficult. Having the knowledge  to do so will be a valuable asset for any agent.

Future Home Realty, Inc.
Tom Scaglione, ePRO, SFR, REALTOR
Direct: 813-310-8200

TampaMobileRealty.com <<< Click

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Mar 19

Short Sale Intro… 8-Part Series…

Saving your Home…

First part of the series deals with saving your home…

Learn About Your Options

Making Home Affordable Offers Solutions
or
Doing a Short Sale?… Second part of the series deals with doing a short sale…

Homeowners…
Are you upside down in your home?

We can help… We do successful Short Sales…

There is no cost to you. My team is standing by to help you avoid foreclosure, so contact us now.

Note: some lenders are paying incentives to sellers & waving all deficiencies in addition to forgiving mortgage liens.

DO NOT JUST WALK AWAY FROM YOUR HOUSE.

Take a look at my 8 Part Short Sale Blog Series on either saving your home or doing a short sale on your home.

There Is Help! “Watch this Making Home Affordable Offers Solutions”
Future Home Realty, Inc.
Tom Scaglione, ePRO, SFR, REALTOR
Direct: 813-310-8200

TampaMobileRealty.com <<< Click

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Mar 19

Short Sale Info Part 7

STOP FORECLOSURE!

No Equity?

You May Qualify for a Short Sale!

We Can Sell Your House NOW!
Your Commission and Closing Costs
Are Paid For By Your Lender.

Ask Us How?

A short sale is a special transaction that allows you to sell your home – even when your mortgage debt is higher than the value of your home. We are professionally trained real estate agents who have been specifically trained to work with your current lenders so you can sell the property and get out from under this burden. Best of all, our commission and your closing costs will be paid by the bank, so you won’t have any out-of-pocket expense!

 “ZERO OUT OF POCKET!”

 Your Graceful Exit “Watch this Making Home Affordable Offers Solutions”

Future Home Realty, Inc.
Tom Scaglione, ePRO, SFR, REALTOR
PH: 813-310-8200

TampaMobileRealty.com <<< Click

Text-Agent1000

Mar 17

Short Sale Info Part 6

Need to Leave Your Home?

 If the cost of homeownership has become too much to bear, the MHA Home Affordable Foreclosure Alternatives Program® (HAFA) allows you to transition out of your home and avoid foreclosure with $10,000 in relocation assistance and peace of mind.

“In many cases, [a short sale] is a dignified exit strategy where the borrower can sell the home and avoid the negative impact of foreclosure on their credit report and return to a better financial position.”

Home Affordable Foreclosure Alternatives (HAFA) <<< Click

 If you can’t afford your mortgage payment and it’s time for you to transition to more affordable housing, this program is designed for you.

 Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets <<< Click

The U.S. Treasury’s Hardest Hit Fund provides more than $7.6 billion in aid for homeowners in states hit hardest by the economic crisis.

Future Home Realty, Inc.
Tom Scaglione, ePRO, SFR, REALTOR
PH: 813-310-8200

TampaMobileRealty.com <<< Click

Text-Agent1000

Mar 16

Short Sale Info Part 5

So, You’re in a HAMP Modification. Now What?

For simply honoring your commitment to pay, you could benefit from a total of $10,000 in principal reduction.

To fully understand the terms of your modification, refer to your written agreement and watch for notices from your mortgage company.

TampaMobileRealty.com

Text-Agent1000

Mar 12

What’s My Home Worth ~ Free Report

Tom Scaglione, ePRO, SFR, REALTOR
Future Home Realty, Inc.
Cell: 813-310-8200
Tom@TampaMobileRealty.com

http://TampaMobilerealty.com
http://www.dreamstime.com/royalty-free-stock-photography-real-estate-money-house-made-cash-isolated-white-background-image34637717

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