Jun 30
The Treasure Coast economy is in the midst of change after a rapid drop-off in the construction industry. With a lot of people out of work and many owing more on mortgages than their homes are worth, area residents are wondering when a turnaround will take place.
Some consider small business the key to local economic success.
With that in mind, Scripps Treasure Coast Newspapers organized its second economic roundtable discussion, this time featuring small business owners and economic leaders from throughout the Treasure Coast. The newspaper designed the summit to provide local residents with information from nine of the brightest entrepreneurs on the Treasure Coast.
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Tags: Coast, Treasure Coast
Jun 30
A recent CNBC article by Diana Olick continues to prove that over a year after its inception, the government programs designed to ease the short sale process (ie. HAFA and HAMP) continue to draw poor numbers.
HAFA provides financial incentives for servicers and borrowers to do short sales (selling the property for less than the value of the mortgage) and deeds in lieu of foreclosure (basically just giving the property back to the bank). The program launched in April, 2010, and was later streamlined in December, 2010, based on feedback from mortgage servicers, real estate agents, and homeowners.
So far, HAFA has completed 7,113 short sales or DIL’s. In April, however, HAFA saw 1,666 completed, up 74 percent from the 959 done in March.
The government is touting this is a huge success – “a 74% growth!” – but as Olick points out, a 74% growth of nothing is still pretty close to nothing.
According to the article, JP Morgan Chase alone does close to 5,000 short sales a month -and that’s just one bank. The expecta
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Tags: Hafa, Hafa Success
Jun 30
A: Typically, a listing contract that a Realtor has with a home seller specifies an amount of time that must pass between the expiration of the contract and when a buyer that was previously introduced by the Realtor may enter into a purchase contract without paying a commission. This time varies by each contract, but is typically 3 to 6 months. If you signed a Buyer Broker Contract with your buyers agent, you may be under the same restrictions. Read your contract, and the seller should do the same. Even better, talk with your buyers agent about representing you. You may get the seller to agree to pay your Realtor a reduced commission rate, and you get someone who is going to look out for your best interests. Good luck. Jim Armstrong.
A: My strongest suggestion to you is to ask your realtor to call the seller and find out if the seller will pay your realtors commission MOST always the buyer does NOT pay the commission it comes from the seller.
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Tags: Looked Realtor, Realtor
Jun 30
Today #myhusband and I were discussing how the #Internet is changing the way we communicate. Just over breakfast we #realized that our friends were not #mistyping everything they tweeted — they were purposefully using these #poundsign things to say something. #Butwhat? Neither of us knew.
I said I would #researchpoundsigns and get back to him. Meanwhile, would he mind downloading some #newmusic for my #ipod? He looked at me quizzically. “#Music? From online? You mean those MP3 thingies?”
“Yes,” I replied.
“How about I buy you #SatelliteRadio instead?” he offered.
“Perfect,” I replied, secretly relieved that I would not have to remember my #itunes account information from 2003.
So while he researched #Siriusradio packages, I Googled “pound signs.” Nothing looked relevant. I added “Twitter” to the search parameters.