Central Florida Short Sales

Come and enjoy Paradise with me. Disney Area Real Estate is affordable again.

Bryant Tutas-Tutas Towne Realty, Inc — Sat, 06 Mar 2010 15:02:01 -0600

Have you ever thought about purchasing a holiday home in Central Florida? Florida may be known mostly for it's beaches but don't ever forget we have so much more to offer. Hundreds of lakes with some of the best bass fishing in the World. And of course Disney World, Sea World, Wet N Wild and Universal Studios.

Here's a little peak at my world.

Want to find out more? www.CFLInvestmentHomes.com

Short Sales and Foreclosures Rule in Kissimmee Poinciana Florida for 2009

Bryant Tutas-Tutas Towne Realty, Inc — Tue, 02 Mar 2010 18:41:12 -0600

Real Estate Market Report for Kissimmee Poinciana Florida for 2009

Comments from Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc

OK so that chart was fun. I wanted to give a picture of the market in Kissimmee-Poinciana Florida from 2007 to the end of 2009. Check out the depreciation. Property values are down 67% during this 36 month period.

But the good news is values only fell 7% for 2009 and it looks like property values have not only started to level off but may be slowly increasing.

Here’s another little goody for you. In 2007 there were only 420 sales. 2008 this number increased to 627. In 2009 Poinciana Florida broke an all time record with the most resale property sales in their HISTORY with 1,596!!! That’s awesome!!

Of those 1,596 sales 1,303 of them were either a Foreclosure (1,083) or Short Sale (220). That means that 82% of the property sales in Poinciana Florida for 2009 were distressed properties.

Currently there are 507 properties on the market in the neighborhoods of Poinciana. 102 are foreclosures. 291 are Short sales. 114 are regular listings.

Inventory is real low. It is getting very difficult to find a property in Kissimmee-Poinciana Florida.

Folks if you want to buy in Poinciana now is the time. Do not sit on the side lines any longer or you will be out of luck. If you find a property you like be prepared to make an offer of asking price or more.

If you need to sell…well chances are you will need to do a Short sale. If that’s the case…give me a call. If you are waiting for your homes value to go back to 2006 values…..it ain’t going to happen for many, many years, if EVER, so just get that thought out of your head.

OK that’s it for me. Any questions?

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.

The beginning of the end was quite evident....if we listened.

Bryant Tutas-Tutas Towne Realty, Inc — Fri, 28 Aug 2009 15:51:58 -0500

Hi folks. Sometimes I find it hard to believe that we are 3 years into this drastic market decline. I was reading through some of my older articles this morning and found this one written in late 2006.

Real Estate is about people, not money! Part 2

Today I met with another pre-foreclosure Seller. I sure am getting a lot of these lately. Anyway, I spoke with this gentleman yesterday and could tell he was really stressed out. Life had dealt him a bad hand this year, health wise, and he has found himself disabled and unable to make mortgage payments. In fact, he hasn’t made any for 5 months. His wife has just started back to work, so they are now in a position to start making payments, again. So that’s a good thing.

I’m writing this post to bring to your attention “predatory lenders” and how they prey on good people’s misfortunes. First, these folks have no other debt except their house, which has a mortgage balance of approximately $170,000, including missed payments and a prepayment penalty. Fortunately, the Lender has not started foreclosure proceedings and have not tacked on Attorney fees......yet.

When I walked in today, the first thing the Seller started telling me, was how he was working with a different Lender, to see about refinancing his house, to “help” him out and how they should have an answer for him in 3 weeks. With this is mind, he only wanted me to list the house for 3 weeks, if I could sell it before the loan came through then good, if not he would take the loan being offered. Well needless to say this did not appeal to me and my immediate thought was to just give this guy some quick info, politely bail out and leave. But I couldn’t do it. He was very stressed so I decided to get some more info from him and see if I could give him some advice.

Well to start, his house is only worth $245,000 to $250,000 max. It turns out, the lender that is willing to “help”, has told him that he can do a loan for 65% LTV based on an appraisal of $300,000! And will only charge him $10,000 in closing costs. Now if you do the math, it means the Seller will have a new loan balance of $195,000 and after paying closing costs MAY get a check for around $13,000. His current payment of $1,400, that he can’t afford, will go up to $1,500 (this is what the lender told him). Now what is wrong with this picture? Well first, how can a house appraise at $300,000 that is only worth $250,000 max? FRAUD. How can they quote him a payment of $1,500 on a high interest loan of $195,000? LIAR. How long will this Seller be able to make payments before he is in foreclosure again? SAD.

Now being the good little Realtor that I am, I pointed this stuff out to the Seller. I explained to him that they are ripping him off and if you take them up on their “help” you will be digging your hole deeper. I also explained to him that his current lender does not want to take the house back. I suggested, that if they are now in a position to start making payments, then they need to contact the current lender and negotiate a loan modification. Since he has no other debt and has a legitimate reason for his financial difficulties, there is a better than good chance, that they can work it out and keep their house. I could actually see the glimmer of hope come into their eyes. They have been buried in stress and have been getting letters from “sharks” everyday wanting to “help”. They did not know they had other options. They don’t want to move. They love their house and just want to get beyond the financial hardship.

So folks, it was a great listing appointment! I did give them some info on selling but really do not think they need or want to sell. I told them if things don’t work out with the bank, then give me a call. I will be there for them.

They both walked me out to my car. Mrs. Seller gave me a hug and asked me for a stack of business cards. And Mr. Seller was really excited and pumped, about having another option, instead of selling or refinancing.

Folks, I’ve said it before and I will say it again, “Real Estate it about people, not money” As Realtors and Lenders, we can make a difference in people’s lives. Make it your goal to listen and to give sound advise. I left this listing presentation with my sign in my car and a smile on my face. To me, that’s priceless!

Available Short Sale Training:

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

***The content of this blog is solely my opinion***

SHORT SALE AGENT TRAINING

Much desired 5 bedroom home in Windermere Florida.

Bryant Tutas-Tutas Towne Realty, Inc — Wed, 24 Feb 2010 10:58:34 -0600

Awesome 5 bedroom 2.5 bath home in exclusive Windermere Florida. Located minutes from historical downtown Windermere. This property has many upgrades including tile flooring, crown moldings, chair railings, gas fireplace, formal dining room, screened and covered lanai overlooking the pond, tile roof, all stainless steel appliances and much more.

You really need to see it to appreciate the craftsmanship that went into this home. And best of all it can be yours for the incredible price of $289,000. Call today 407-873-2747 or email at BrokerBryant@gmail.com

GMAC Short Sale Verbiage is Stealing MY Money!

Bryant Tutas-Tutas Towne Realty, Inc — Sun, 14 Feb 2010 18:00:31 -0600

Hi Folks. Richard Zaretsky wrote apost earlier this week titled SHORT SALE MARKET EVOLUTION - GMAC SOLUTION TO FALSE BUYERS If you haven't read it pop over and do so.

Richard's post spawned an article by Bill J Archambault titled Successful REALTOR Or Failed Social Reformer.

Bill's post got me thinking about this one. Funny how that works!

Here is the language GMAC wants if you have a short sale with them as the lender:

2-3% earnest money must be agreeable to buyer. Contingencies must be removed 14 days after we issue approval letter and earnest money becomes non-refundable. If buyer walks, buyer and seller must agree in writing that earnest money will be wired to GMAC.

GMAC is interfering with my listing agreement and interfering with a purchase agreement. This is, in my opinion***, Tortious interference. They are NOT a party to either of these contracts and have no right dictating the terms.

GMAC's new "deposit language" is interfering with my contractual right, as per my listing agreement, to a percentage of the deposit when a buyer walks. Why? I didn't do anything wrong. In fact, I spent time, effort and money during the pending status of the contract and have the right to be compensated if the deal kicks due to the buyer walking. GMAC wants to steal my money.

And what about the fully qualified buyer that doesn't have 2% to 3% to put up as a deposit? They could be purchasing the home using VA or USDA (100%) financing but may not be in a position to place 2% to 3% down as a deposit. Now due to this GMAC requirement they are blown out of the water. And of course these are exactly the buyers that are willing to pay a premium for a property.

Make no mistake about it this is just one more step towards banks dictating the real estate market.

Banks are now:

Limitting how much I can charge for my services.

Preventing me from being compensated for my time and effort.

Dragging property values down even further by limitting the buyer pool.

You can be sure I will work the system to my advantage. BUT...dictating how I can charge for my services is a violation of anti trust laws. GMAC can certainly choose to not accept a short sale. That is their decision. How I get paid is my business and they are interfering with my contract. GMAC is not losing money. They are the servicer. They get paid whether payments are made or not. This new verbiage is not to lesson their losses it is to increase their profits.

I wonder if they pass the claimed deposit off to the investor? I doubt it.

Short Sales Suck and I Ain't Doin' Them!! Agent Training.

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.

One person's paradise becomes another person's hell.

Bryant Tutas-Tutas Towne Realty, Inc — Fri, 12 Feb 2010 15:36:11 -0600

Hi Folks. I went out last week and did a photo shoot for a property I sold back in late 2005. It sold for $170,000. Now it's a pre-foreclosure Short Sale and will be going on the market for around $50,000.

When I first listed this property back in 2005 the owners were so proud of it. It was their little peice of paradise and it was in immaculate condition. It was purchased by an Investor in September of 2005 By early 2006 the market had crashed and this house has sat empty ever since.

The difference between what it looked like then and what it looks like now is striking. Sad.

What does it say about a real estate market when I won't even place my sign in the yard?

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

Did you know......

Bryant Tutas-Tutas Towne Realty, Inc — Wed, 03 Feb 2010 15:48:06 -0600

.......you can't sell people on trust...you have to build it.

And that's all I have to say today, so....check out this stuff..

I found this to be an excellent article "Who are you trying to impress?"

By this summer well over half of all Internet users will likely visit Facebook each month. Are you there?

"I'd like to posit that for idea workers, misusing Twitter, Facebook and various forms of digital networking are the ultimate expression of procrastination. You can be busy, very busy, forever. The more you do, the longer the queue gets. The bigger your circle, the more connections are available." Seth Godin

Here's a perfect example of wasted time in the blogosphere.

"I offer nothing more than simple facts, plain arguments, and common sense . . ." Thomas Paine

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

Short Sale Knowledge At Your Fingertips.

Bryant Tutas-Tutas Towne Realty, Inc — Sun, 17 Jan 2010 08:10:15 -0600

Hi folks. Here's a short compilation of some of the conversations going on this week at www.ShortSaleSuperStars.com

Short Sale Lenders asking for cash contributions off the HUD.

Sellers of Short Sales wanting to rent the property back.

2nd lien holders being unreasonable.

Is a hardship really needed to qualify for a Short Sale?

Getting Short Sales approved through REOTrans/Equator

Investors refusing to postpone the foreclosure auction.

Bank of America and Titaninum Solutions

Short Sale Lenders seizing bank accounts

Dealing with Multiple offers and Short Sales

Tools to assist you with your Short Sales

Available Short Sale Agent Training:

LEARN, KNOW AND GROW

Wendy Rulnick and Bryant Tutas
www.ShortSaleSuperStars.com

Short Sale Lenders are Seizing Bank Accounts!

Bryant Tutas-Tutas Towne Realty, Inc — Fri, 15 Jan 2010 16:55:06 -0600

Did you know that? I didn't. Until I read this article by Sally K. & David L. Hanson.

This is pretty serious stuff. If you are working with Short Sales please be sure to notify your Sellers and give them this information. I am not an Attorney nor do I play one on TV so I do not know the legalities of this. I do know though, that if it were me, I'd much rather avoid the issue all together and pull my money out of the bank that I have my delinquent mortgage with. Better safe than sorry.

If you read the comments to Sally and David's post you will see that this IS happening. And it's happening all over.

And of course....Bank of America is one of the culprits.

Be a Short Sale Superstar to your Sellers and make them aware of this situation today. OK?

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

URGENTOrlando Short Sale $200,000. Approved and ready to close.

Bryant Tutas-Tutas Towne Realty, Inc — Wed, 20 Jan 2010 20:17:22 -0600

I need a buyer quick on this one. Both lenders have approved the transaction in writing at $200,000. Approvals are good until 1/31/2010, Current buyer may not be able to close on time. Their loss may be your gain.

This is an incredible property with over 3,000 sq ft living area, pool, media room, extensive tile flooring, 5 bedrooms and 3.5 baths. Check it out.

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

Chase Short Sale Approval.....

Bryant Tutas-Tutas Towne Realty, Inc — Tue, 19 Jan 2010 15:35:43 -0600

.....only took 9 months!!! And we are not closed yet. Amazingly we still have the original Buyer that went under contract at the end of April 2009.

Property location:

Florida Keys (Vacation home)

Hardship:

Illness.

Lender(s):

Chase on the first and 2nd. About 5 months into the Short Sale transaction the 2nd was passed off to Allied International Credit (AIC).

Purchase Price:

$303,000

Amounts owed:

Chase was owed $693,000 on the first and agreed to accept $273,000 (39% of the debt)
AIC was owed $94,000 on the 2nd and agreed to accept $3,000 (3% of the debt)

Terms:

No note. No cash contribution.

Special conditions:

This was a co-listing with Kelly Willey from ActiveRain. She handled the property and I took care of the Seller and the Short Sale negotiations. There is also a Broker on the selling side. Chase agreed to pay 3 Brokers. There was a HOA lien for $18,000 that the Seller paid off. Took 90 days to get under contract.

The Short Sale Package was submitted in it's entirety 3 times.

We should be closing next week with a cash Buyer.

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

www.ShortSaleSuperStars.com CONTEST WINNERS ANNOUNCED

Bryant Tutas-Tutas Towne Realty, Inc — Mon, 11 Jan 2010 16:04:24 -0600

Hi folks. As you know we just had our 1st contest at www.ShortSaleSuperStars.com. You can read about it here.

We made a couple of changes as we went along. Hey...we own the site and can do what we want :) The first change we made was Wendy and I asked our site moderator, Jeff Payne, to help with the judging. Jeff's a great guy and he's cheap labor so we took advantage of him. Thanks Jeff!!!

Secondly, we upped the ante with the prizes. We, as in Wendy and I, decided that since there were so many great entries, 16 to be exact, that ALL should be rewarded. We'll tell you shortly what we decided to do. But first.....

....here are the 3 winners:

1st place goes to Stephanie Jarmon for "Why I help Kansas City homeowners negotiate Short Sales--and how they could go better..." Stephanie's article is about FEAR and how it affects homeowners' decision making or lack of. Her goal is to empower these folks with knowledge. She also has some excellent ideas on how lenders could make the process easier.

2nd place goes to Katerina Gasset for "Why Do We do Short Sales". WOW! Is all I can say about this one. A heart breaking look at what Short Sale agents deal with on a daily basis. Katerina's post reminds us that we are dealing with real people with real hardships. Her post is exactly why www.ShortSaleSuperstars.com exist. To help people.

3rd place goes to Ray Saenz for "What can be done to help make the Short Sale process run smoother?" Ray's article is a comprehensive outline to assist agents with handling the short sale process. I can tell he spent a lot of time and effort on his entry. Thank you Ray.

Pop over and read all of the entries. They are all very good.

OK...back to the prizes. We have decided to give all 3 of the top place winners the Short Sale Agent Training Webinar. Plus.....ALL 16 contestants will receive The Negotiator Interview as our way of saying thanks for entering the contest. Stephanie Jarmon also gets to pick the ShortSaleSuperStars Tee Shirt of her choice for taking first place.

That's it!! Our first contest comes to a close. A sincere thank you from Wendy and I for all who participated. And a big thanks to Jeff for helping with the judging.

Until next time.....Learn, Know and Grow.

Together we CAN make a difference!

And if you missed out on the contest but still want your Short Sale Agent Training.....we won't get mad if you just go ahead and make a purchase!

Available Short Sale Agent Training:

Wendy Rulnick and Bryant Tutas
www.ShortSaleSuperStars.com

The Evolution of a Short Sale Broker.

Bryant Tutas-Tutas Towne Realty, Inc — Fri, 08 Jan 2010 15:04:41 -0600

Hi folks. When I first realized that Short Sales were going to be a major part of my market I knew I needed to learn how to do them and I needed to learn how to do them fast. So I did what any Short Sale rookie would do...I decided to write a book on how to do Short Sales!! I read and studied everything I could get my hands on. I started listing Short Sales and started going through the process. I found out real quick that what I thought I knew.....was not enough.

But instead of throwing in the towel I made another decision. I sent Wendy Rulnick an email and asked her if she wanted to help me finish writing a book about Short Sales. Much to my surprise she agreed!! I now had someone that had done tons of Short Sales to learn from. Then I made another great decision. I asked Wendy if she wanted to do a Short Sale Agent Training webinar series and teach agents how to do Short Sales. Again she agreed!

I did this because I really wanted to help others become better at doing Short Sales. But most importantly....I did it to learn. I spent weeks picking Wendy's brain while we prepared to launch our training webinars. I was learning Short Sales as I was preparing to teach Short Sales. Sounds backwards doesn't it? It is. But it worked for me. I became very good at Short Sales in a very short period of time.

Then we took it a step further and launched www.ShortSaleSuperStars.com. Now I am the co-founder of the hottest Short Sale network on the internet and have become known as a go to guy for Short Sales.

In less than a year I revamped my entire buisness and became an "expert" at something I had very litttle hands on experience with. I envisioned what I wanted to become and I became it.

I evolved. Have you?

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

FREE Agent Short Sale Training. CONTEST

Bryant Tutas-Tutas Towne Realty, Inc — Thu, 31 Dec 2009 16:02:48 -0600

Hi folks. What better way to bring in the New Year than to have a contest. Wendy and I have been thinking of some ways to give back next year. As you know, both of us have a passion for Short Sales. We LOVE helping folks avoid foreclosure. So we've decided to have a contest and give away some goodies!!

Let's start with the prizes first.

First place prize will be the complete Short Sale Agent Training Webinar taught by Wendy and I. This training consist of 5 MP3s with almost 8 hours of training that walks you through a Short Sale Transaction from beginning to end. We'll also include the Short Sale Listing Package. VALUE: $124.00

Second place prize is The Negotiator Interview. This is an MP3 of Wendy and I interviewing a Short Sale Negotiator from one of the major lenders. "Craig" has been handling short sales for 18 years and spends 90 minutes answering questions from Wendy and I about the Short Sale process and what the lenders are looking for. We'll also throw in a Short Sale Superstars Tee Shirt VALUE: $60.00

Third place prize is.........a set of steak knives VALUE: Not much

The contest:

Write an article answering one of these two questions.

What can be done to help make the Short Sale process run smoother?

Why do you want to do Short Sales?

Top three articles, as judged by Wendy and I, win. Entries have to be submitted no later than midnight eastern time Thursday January 7th. The winners will be published by Monday the 11th.

"So, Broker Bryant, how do we enter?" Good question.

You have to join http://ShortSaleSuperStars.com Don't worry...It's free. Just click on the link and answer a few questions and you are in.

Write your article. The article must be posted on the ShortSaleSuperStars site as a blog post. "tag" it contest.

Link to this article in your blog post.

Come back here (My ActiveRain blog) and link to your blog post in the comment section of this post.

That's it!!! If you have any questions you can email me direct at BrokerBryant@gmail.com and I'll get you squared away.

And if you can't wait to get your Short Sale Agent Training.....we won't get mad if you just go ahead and make a purchase!

Available Short Sale Agent Training:

Wendy Rulnick and Bryant Tutas
www.ShortSaleSuperStars.com

Central Florida Short Sales

Come and enjoy Paradise with me. Disney Area Real Estate is affordable again.

Short Sales and Foreclosures Rule in Kissimmee Poinciana Florida for 2009

The beginning of the end was quite evident....if we listened.

Real Estate is about people, not money! Part 2

Much desired 5 bedroom home in Windermere Florida.

GMAC Short Sale Verbiage is Stealing MY Money!

Short Sales Suck and I Ain't Doin' Them!! Agent Training.

One person's paradise becomes another person's hell.

Did you know......

Short Sale Knowledge At Your Fingertips.

Short Sale Lenders are Seizing Bank Accounts!

***URGENT***Orlando Short Sale $200,000. Approved and ready to close.

Chase Short Sale Approval.....

www.ShortSaleSuperStars.com ***CONTEST WINNERS ANNOUNCED***

The Evolution of a Short Sale Broker.

TOP SHORT SALE STORIES OF THE YEAR

FREE Agent Short Sale Training. ***CONTEST***

URGENTOrlando Short Sale $200,000. Approved and ready to close.

www.ShortSaleSuperStars.com CONTEST WINNERS ANNOUNCED

FREE Agent Short Sale Training. CONTEST