HATFIELDHOMES

HATFIELDHOMES: Safety Harbor Spa Bankruptcy affects City

2011-09-22T13:04:00.000-04:00

HATFIELDHOMES: Safety Harbor Spa Bankruptcy affects City

Safety Harbor Spa Bankruptcy affects City

2011-09-22T11:08:00.003-04:00

Safety Harbor is a small quaint historical landmark to the Clearwater, Florida area dating back to the 1500's when it was habitated by Indian shell mound builders, Tocobaga and Seminole Indian tribes who believed the mineral springs had magical healing powers for the sick. When Spanish explorer Hernando De Soto reached the shores of now Old Tampa Bay and discovered the springs, he believed he found the fountain of youth and named them "Espiritu Santo Springs". During the Second World War (1850's) Colonel William J. Bailey purchased the springs and surrounding land from the government, making him the first owner of the springs after the US bought Florida from Spain. The land was called "Bailey by the Sea". Many other names derived for this wonderful find that hold great tales and in the 1900's Safety Harbor became known as the "Health Giving City" with five springs used for specific healing purposes.

This attracted visitors from all over bring a commercialism to the city for international business. Spring water was bottled in jugs and then shipped around the world. Thereafter in the 1920's the land and springs were sold to Captain James Tucker who developed and erected the Espiritu Santo Springs a/k/a The Safety Harbor Sanitorium, the Espiritu Santo Springs Hotel n/k/a The Harbor House. These developments set the Tuckers later into hardship with back taxes and the springs and sanitorium were sold to the Jansik family who restored the resort and added a pool that housed nothing but flowing spring waters. This attracted people from all over the country including a Pioneer of Naturopathic medicine, Dr. Salem Baranoff who in 1945 purchased the springs and sanitorium and visualized a true health spa resort with accomodations. From Dr. Baranoff's vision, word rang out and sports athletes, including professional boxers would come from all over to utilize the facility as a training camp and injury healing center. This later set the path in the 1960's for its recognition by the US Department of Interior and in 1964 it was designated a historical landmark, later to be a Florida Heritage Landmark.

This history proceeded to set the pathway of vision for future owners of the springs and sanatorium. Very wealthy visitors from afar would see this site as their home away from home for its tranquility and serene water views, mineral healing springs and small town lifestyle.

As time evolved, changes in the Clearwater tourism and lifestyles shifted the Spa's visitation. As the tourism to the spa decreased, the spa suffered in maintenance and upkeep. In 2004, a real estate developer purchased the spa with new ideas to regain its beauty and history to the new generation of visitors. It was the intention to demolish the historical landmark and build condos, shops, residences and a new spa in its place. However the community declined this intent pushing forward a full inspection of the buildings which resulted in a plan to renovate and remodel. The Spa was renovated in stages and during this new ownership has encountered various staff reassignments resulting in operational shortfalls, many guest complaints of black mold in the guest rooms, mildew odored hallways, bats in two of the guest towers and that the historical bottled water that was supposed to be from the healing springs, was later found to be nothing more than tap water. Complaints like these listed on travel agency websites and commendation for tourist destination sites caused demise to the Spa's memberships, spa services and guest stays and corporate decisions turned away many business conferences, weddings and events that would otherwise book years in advance. To date many of this issues have been corrected, but in the midst of doing so, the Spa experienced a financial hardship in maintaining their mortgage debt which is listed to be around $30 million not including the unsecured debt to trade creditors. At the same time, declining real estate values and business has not helped and the resort has had to attempt in restructuring their loan. On October 28, 2010 the Safety Harbor Resort and Spa filed Chapter 11 Bankruptcy Protection in an attempt to pay down the debt and keep the resort open until the market improves. Because of its National Landmark status this resort is an important part of the Safety Harbor community. Without the Resort, Safety Harbor would not otherwise be on the map so it wouldn't be surprising to see the City step in to assist this Historical Landmark keep its national status. The mortgage on the Resort includes undeveloped land surrounding the resort along the waterline. This land has declined in value and owners feel has affected the overall operation of the resort, so the City has proposed to purchase this property from the Resort as of June 30, 2011. Ongoing negotiations for land restrictions continue between the Safety Harbor Resort and the City of Safety Harbor and to date a the City has placed a deposit in escrow for purchase of $100,000 deposit pending an appraisal ($13,500)and survey ($6,000) of the property. All monies of which are coming from property taxes generated from the city's community redevelopment area. The city has presented an offer to the Resort for $3.3 million subject to the appraisal. If the appraisal is below their offer, both parties will renegotiate the terms. Within the Plan terms of the Chapter 11 Bankruptcy, the secured debt for the spa was to reduce the $30 million to just under $14 million. In the plan part of the land sale proceeds to the city will go towards reducing that debt.

Thus the legal matters, the Safety Harbor Resort and Spa continues to remain open for business and is honoring all reservations, spa services, etc. As we all know businesses alike all have suffered a great deal with our residential and commercial real estate value decline and rather than shunning away from contributing to a business in hardship, its important to embrace and assist because in the long run, these businesses are what continue to help our economy run and keep our housing values stabilize. And regardless of how the real estate market has been, it has not discontinued the overwhelming interest to purchase a home or open a business in this quaint city.

While the spa may have had some concerns in the past, it is handling them appropriately in the present and in doing so, hopefully we can continue to keep this beautiful landmark on the Historical Register for the future.

@Copyright 2011/HatfieldHomes

Information provided herein was obtained for this article from the following locations:
1. Safety Harbor Resort and Spa, History
2. St. Pete Times Article, October 29, 2010 -
3. St. Pete Times Article, June 30, 2011
4. St. Pete Times Article, August 17, 2011

Comments of guest services retrieved from Expedia, Trip Advisor and Safety Harbor Resort and Spa Comments.

RENOVATED, REDUCED AND READY TO MOVE-IN

2011-09-22T10:56:00.005-04:00

RENOVATED, REDUCED AND READY TO MOVE-IN
HUDSON, FLORIDA
SHADOW LAKES/MEADOW OAKS GOLF COMMUNITY

$144,000* 3 Bedroom/2 Bath (MLS# 7483957)
SHADOW LAKES Subdivision - Pasco County, Florida
*price as of 9/22/11 subject to change

Newly Renovated and Painted to include:
*Updated Kitchen with Brand New Appliances
*Split Bedroom Plan with Large Living/Family Room,
*Updated Bathrooms with European Cabinetry,
*New Carpet throughout
* Large Florida Room with attached Exterior Porch
And much much more...... plus minutes from the Interstate, Veterans Expressway

A Must See Home in one of Pasco Counties nicest Golfing communities. A Brand New Home at Re-sale prices and all you have to do is Move In. All Offers are Welcome. Please call us today.
For Virtual Tour, Click Here

Property Information is provided as a Courtesy of Dawnmarie Hatfield of Keller Williams Realty and said parties are held harmless for any descrepancy herein. Information has been gathered from Realtor.com and the Pinellas Realtor Organization. Price and terms of listings subject to change. Verify all information on listings with your agent.

DAWNMARIE E HATFIELD, Realtor
TRC(CIPS), AHWD,SFR,REOs ,CHP
KELLER WILLIAMS REALTY
35095 US Hwy 19 North, Ste 100
Palm Harbor , FL 34684
727-437-2640
Dawnmarie@kw.com ~ www.Hatfieldhomes.org

HOMES AFFORDABLE PROGRAMS

2011-03-02T13:12:00.004-05:00

In 2010 the HAFA and HAMP programs were implemented to assist a homeowner, where in turn many homeowner's were turned away and the programs became stagnate as no guidelines were in place. As of February 1, 2011 the government as re-implemented both programs with new rules and actual policies and procedures so we as real estate agents can assist our borrowers/homeowners better. If you are in a financial situation that may affect your homeownership, contact an agent today that is specialized in the HAFA, short sales and foreclosure arena. While we can not provide legal advice we can help guide you into starting the process to work with your lender so you can stay in your home and save your credit. We'll talk more about this subject in this month's ongoing blogs as information is made readily available.

FTC guidelines and HAFA restrictions may apply.

NEW FHA Changes that can affect you as a Borrower

2010-08-10T09:33:00.002-04:00

As FHA makes their changes we are one step in line with them in letting our client know what to expect. Here is a message from Brian P Forester, a mortgage officer we work with at Tri-County Mortgage to catch you up to speed on what will happen with FHA loans effective September 7, 2010.

Should you have any questions concerning this message and currently are working with a lender for FHA financing, please contact your lender for more information.

The information provided herein is a consumer message and not for the promotion of any lending products. Dawnmarie Hatfield,Keller Williams Realty and/or its affiliates can not guarantee the validity of this message and defer said information or inquiry of such to a licensed professional mortgage lender to discuss with any borrower.

NEW HAFA RULES TAKE EFFECT

2010-07-16T12:17:00.000-04:00

HOMES FOR HOMETOWN HEROS- Price Reduced

2010-07-15T13:29:00.006-04:00

PASCO COUNTY, FLORIDA (HUDSON)

GREAT LOCATION!

Price Reduced

Shadow Lakes Community- Minutes from Golf Courses

$164,999

MLS#7422067 See our Virtual Tour .....................................

For a Podcast of this Property .........................

For More Information please contact:

Dawnmarie Hatfield,TRC,AHWD,SFR,REOs, Realtor (Keller Williams Realty)

(727) 772-8919 ext 149 or hatfieldhomes@tampabay.rr.com

*Address is protected for seller's security. If you do not have a real estate license with authority to show property, you must make an appointment with a licensed party to preview this property. Safety for all is of upmost importance and all parties that preview this property must be registered prior to show. Thank you for your understanding and cooperation.

Foreclosures and Short Sales

2010-07-13T20:53:00.000-04:00

5 Tips for Buying a Foreclosure

Get prequalified for a loan and set aside funds, and you’ll be ready to purchase a foreclosed home. Read
6 Tips for Buying a Home in a Short Sale

By preparing for a real estate short sale, you can emerge with a great home at a favorable price. Read

Visit houselogic.com for more articles like this.

HOMEOWNER ASSISTANCE PROGRAM FOR OUR MILITARY

2010-01-11T14:37:00.001-05:00

The Department of Defense (DOD) is now offering the Homeowners Assistance Program (HAP) to eligible service members and federal civilian, including non-appropriated fund, employees. The program is to assist eligible homeowners who face financial loss when selling their primary residence homes in areas where real estate values have declined because of a base closure or realignment announcement.

The American Recovery and Reinvestment Act of 2009 (ARRA) has also temporarily expanded the HAP to assist service members and DOD employees who are wounded, injured or become ill when deployed, surviving spouses of service members or DOD employees killed or died of wounds while deployed, service member and civilian employees assigned to BRAC 05 organizations, and service members required to permanently relocate during the home mortgage crisis. For more information go to www.hatfieldhomes.org

NEW GUIDELINES FOR FHA –APPROVED CONDOMINIUMS

2010-01-11T14:26:00.001-05:00

Finally, the Community Association Institute (CAI) has made a difference. New guidelines call for FHA-approved condominiums to be financially stable and require the mortgage lender to approve the association budget, reserve account and more.

The negative is that we may see Lenders resist it because it will be more work for them, but overall it is a great idea.

Condominium buyers can now purchase knowing that their lender has reviewed the association's financials and found them to be mortgage worthy.

Not only can the qualified buyer purchase with only a 3.5 percent down payment, the mortgage lender must review the reserves, and make sure the insurance policy is current.

CAI is the national voice of association-governed communities, which include homeowners associations, condominiums, cooperatives and other planned communities.

If you are an FHA Buyer and are interested in condos, talk to your real estate agent and lender to see how this may assist in your home search.

HOMEOWNERS IN MORTGAGE DISTRESS

2010-01-11T14:23:00.001-05:00

If your mortgage payments are delinquent and you have not contacted your bank, you should do so immediately. I have worked with several sellers that have the idea they can't afford the house, nor the real estate commission, to sell the house with a Realtor, so they would rather just walk away from their home and abandon the house. What homeowners do not realize, is the mortgage that you obtained to finance that house remains attached to you even if the bank that takes over the home sells the property. The contract was between you and the bank and most likely was not transferrable. So if you walk away from the home, you not only look at a future judgment being placed against you (if not tended to can end up costing you far more than the loan did itself) but also a lien on any other property of asset value. It also reduces your chances in obtaining another loan and can cause damage to your credit rating.

As a homeowner in distress, contact your lender. Tell them your financial situation has changed. If you have made your payments on time and are in good standing and still have your job, you may qualify for a loan modification so you can stay in the home. If you have missed payments or the bank does not find you to qualify for a loan modification you may have the option of selling your home in a short sale process, which really isn't short at all.

A short sale involves a lender or investor agreeing to collect less than the balance owed on a mortgage debt out of the proceeds of a negotiated sale of the property. Often, a short sale is the last alternative to foreclosure available to distressed homeowners and banks. If your bank agrees to accepting a short sale, you need to hire a realtor familiar with the short sale process. Then you must wait for a buyer who has financing to close the deal and will make an acceptable offer to the bank. If your property has a second mortgage or home-equity credit line, you also need to negotiate how much that lender will receive from the sale proceeds. Sometimes that second mortgage lien may be worthless, but that bank has a legal power to block the short sale by refusing to sign on the deal. And we have come to find that banks, mortgage providers and bond investors are conflicting in their requirements.

But Homeowners may be in for some relief. Believe it or not the first choice for lenders was to keep borrowers in their homes by offering loan modifications as an alternative to foreclosure. According to the Office of the Comptroller of the Currency on September 30, 2009, more than half of those modifications of delinquent mortgages re-defaulted within a year.

Because of this, Obama's administration has now implemented a new standardized short sale plan that is scheduled to roll out in April 2010 which will require lenders to consider borrowers for a short sale on their primary residence 30 days after missing two consecutive payments on a modified loan or after a borrower requests a short sale.

With this plan, the Department of Treasury's program will pay up to $1,500 for a homeowner to relocate, $1,000 to loan servicing companies that accept a sale and a maximum of $1,000 to help settle a second mortgage or subordinate lien. And the lender must agree to release the borrower from all liability for repayment of the mortgage.

Now if I was a Homeowner In Distress, I would think twice about abandoning my home and do whatever it took to communicate with my lender. Whether it be a loan modification or a short sale, in the end I would have saved my credit and my sanity.

Homeowners could find liens against property with bad contractors

2010-01-11T14:19:00.001-05:00

If you've been in the market to purchase a property in short sale, you may want to read this article (Click here) released by the Tampa Tribune concerning properties with liens pending against properties as a result of contractor non-payment to their construction vendors. While this article shares an incident with one bay area contractor, you buyers of short sales out there need to be aware that along with those amazing prices on properties deficient in their mortgage payments, comes possible tax liens, construction liens, attorney's fees, court costs, past due Homeowner's Association Fees, delinquent Homeowner Association Assessments and more.

The market may be pleasing for buyers, but remember "Caveat Emptor" (let the buyer beware). Examine the property and buy at your own risk, that would include not only include a full inspection of the home itself, but of its court and title records to verify what history you will be purchasing along with the home.

PRICE REDUCTIONS FOR 2010

2010-01-11T11:40:00.001-05:00

$158,000 * 4.4 Acres MOL ( PRICED TO SELL)

VACANT LAND in Brooksville
(Residential and/or Agricultural) HERNANDO CNTY, FL
PRIME REAL ESTATE in FALCON RIDGE

convenient to Veterans Expressway Preview Here

Listing is being offered as possible short sale.

Accepting all offers; offer and commission subject to bank approval

See MLS #7415597 for all disclosures

$173,999 3 Bedroom/2 Bath (PRICE REDUCED)

MLS# 7422067 ESTATE SALE in HUDSON

SHADOW LAKES Subdivision - Pasco County

Newly Renovated and Freshly Painted.

Brand New Appliances, Large Home Layout,

Brand New Cabinetry in Bathrooms, New Carpet,

Paint and More. A Must See. A Brand New Home at Re-sale prices. Move In Ready Submit All Offers.

For Virtual Tour, Click Here

Property Information is provided as a Courtesy of Dawnmarie Hatfield of Keller Williams Realty and said parties are held harmless for any descrepancy herein. Information has been gathered from Realtor.com and the Pinellas Realtor Organization. Price and terms of listings subject to change. Verify all information on listings with your agent.

DAWNMARIE E HATFIELD, TRC, AHWD
KELLER WILLIAMS REALTY
35095 US Hwy 19 North, Ste 100
Palm Harbor , FL 34684
727-772-8919 ext 149
Dawnmarie@kw.com

GREAT TIME FOR VETERANS TO BUY

2010-01-11T09:15:00.000-05:00

VA Loan Still Good Option in a Challenging Economy

More service members and veterans are using their Department of Veterans Affairs (VA) home loan guaranty benefit, as VA's loan program remains a strong option in today's housing market. No-down payment loans are increasingly difficult to obtain with conventional financing. Under recently enacted legislation, VA now uses a locality-based approach in determining ceilings on its no-down payment home loans. VA no-down payment loans are available for as much as $729,000. Larger VA loans may be obtained with relatively small down payments. See full article.Visit the Military.com PCS/Home Buying Guide. It will help you sort through the moving process and ease your PCS. This guide offers moving checklists, articles about finding homes in the right neighborhood, tips for selling your home fast, and much more.

Sellers Can Offer Buyer Financing to Sell Home

2009-09-08T15:11:00.002-04:00

Posted in the Wall Street Journal today, June Fletcher, made reference to options in how a Seller can assist a Buyer in purchasing a home in today's market. One option was to assist the Buyer with financing. Years ago, Sellers would hold the note on a home for a potential buyer only to be left with the liability of the debt later when the buyer would vacate the property or choose not to make payments. While this is a very good option to assist a Buyer, it is wise to obtain an attorney to assist you in the legal process of writing the note., determing the financing terms and to make sure there is an arbitration clause and liability clause to protect the Seller. As Fletcher also states in her article, it is wise for the Seller to also investigate the buyer's finances just as a bank would to determine if allowing this option to sell the home would be in the Seller's best interest.

As stated in Fletcher's article, the below five steps should be taken:

1. Investigate the buyer by asking him to fill out a Uniform Residential Loan Application.

2. Get bankruptcy details by checking out the case through Public Access to Court Electronic Records (PACER), a service of the U.S. Judiciary. ( This program requires registration and will only charge you for the viewing of the pages you print, so it does require a credit card to use,

3. Pull the buyer’s credit report and eviction and criminal history via the American Apartment Owners Association Web site.

4. Insist on 20 percent down or offer a contract for deed, which only confers full ownership rights after the home is paid off.

5. Consider offering a lease-option with part of the payment going toward the purchase price, which gives the buyer time to repair his credit before seeking conventional financing.

6. And one other area of research that should be done that is not included in the article is to verify past and present residential creditors in addition to pulling the Clerk of the Court Civil and Criminal Records ( which are public record) through the Court's online website to verify there are no lawsuits, liens or criminal activity against the Buyer that would otherwise pose a problem for you as the Seller.

If you are an agent, unless you have authority to do this from the Seller in writing, have the seller do this. The fees for pulling records on one potential buyer, can add up and unless you have a written agreement with your seller to reimburse for the background check or otherwise, the Seller should take this responsbility.

Althought there is alittle more legwork for this option, it is still a great option to assist a buyer in our current market.

Source: The Wall Street Journal, June Fletcher (08/28/2009)© Copyright 2009 INFORMATION, INC. Bethesda, MD (301) 215-4688
Additional information provided via Dawnmarie Hatfield, TRC, AHWD Realtor/Keller Williams Realty.

What Floridians Need to Know About Insurance

2009-08-18T09:10:00.001-04:00

DO YOU HAVE ENOUGH INSURANCE?

Living in Florida we all know we are at risk of a hurricane between June 1st through November 30th. The biggest mistake I have seen is the assumption that because you have Homeowner’s insurance you are covered in the case of a Hurricane. But there are other mitigating circumstances that result from a hurricane like water and wind damage, which may not be made a part of your homeowner’s insurance policy.

There are two critical must know facts regarding insurance. Homeowners insurance is not hurricane insurance and there is a 30 day waiting period. "Prepare for Hurricane Season: Buy Flood Insurance Now" is the title on the FEMA website posted May 29, 2009. According to FEMA, floods are the most common hazard in the US, and most homeowners insurance doesn't cover flood damage.

Everyone is at risk of flooding and Flood coverage is available in the form of a separate policy both from the National Flood Insurance Program (NFIP) and from a few private insurers. The fees for insurance are mandated by NFIP so even if you try and shop around, the only difference you may see in rate would determine on the fee the insurance agent is charging you to manage that policy.

NFIP was created in 1968 by Congress for those communities that agreed to adopt and enforce flood plans to reduce flood damage would have federally backed flood insurance. And in 1994 Congress passed the National Flood Insurance Reform Act (SFHA) lengthening the waiting period required before an NFIRA policy can go into effect. The waiting period is 30 days for a new or modified policy. During a Hurricane it is less likely any insurance company will insure you so it is important that you obtain insurance before hurricane season.

A 2008 poll by the Insurance Information Institute found that only 17 percent of Americans have a flood insurance policy, ranging from 15 percent in the West to 17 percent in North Central States and the South to 20 percent in the Northeast. Coverage is provided for up to $250,000 for the home and $100,000 for personal belongings and policy premiums can range anywhere between $300 to $2,000 depending on the coverage amount, type of home and amount of personal property coverage you need. The higher deductible you select, the possibility for a lower premium.

On the FEMA website there is information about the National Flood Insurance Program, flood maps and a calculator to estimate premiums. They also link to FloodSmart.gov, the official site of the National Flood Insurance Program and the Insurance Information Institute website has down-loadable information regarding the National Flood Insurance Program.

In addition to Flood, hurricanes cause wind damage. Typically homeowners insurance covers wind damage; but during a hurricane there can be wind related damage to a window or door that results in flooding. According to the fine print, this type of flood damage might not be covered in the policy. Additional wind and hail coverage might be necessary.

When researching Homeowner’s insurance , typically enough insurance will be required to rebuild the home ( replacement value) and to replace all personal belongings. Speak to an insurance agent or company and have discussions regarding requirements as well as deductibles. Most coastal residents have percentage deductibles for storm damage rather than the traditional dollar deductibles that are used for other types of losses such as fire or burglary.

If you are buying a home during hurricane season, some insurance companies may freeze the underwriting of new policies until the storm is to pass. Don’t be discouraged, if you can not get your quotes or a binder for closing. Remember you can always ask for an extension of closing to allow for the storm to pass and the proper binder to be obtained.

Get informed this Hurricane Season and know your options so you can be properly protected.

Information gathered from FEMA.gov, floodsmart.gov, Florida Department of Insurance 2009

Pinellas County Sales for July - UP!

2009-08-18T09:09:00.001-04:00

The Pinellas REALTOR® Organization Releases Early Indication of the Pinellas County Real Estate Marketplace Activity for the Month of July, 2009
by Mathias Bergendahl

On August 10, 2009 The Pinellas Realtor® Organization released marketplace activity in Pinellas County for the month of July, 2009 indicating that the Pinellas County residential real estate market continued to see declining inventory, rising sales, and a fairly stable median price.

Residential unit sales were 1,134 compared to 841 in July 2008, an increase of 26%. At the end of July, 12,479 active residential listings were on the market compared with 15,919 in July the year before, reflecting a 22% decline in inventory. The median price for all residential properties was $136,200 contrasted with $172,500 in July 2008.

For most of 2008, the median price was in the 170,000 to 175,000 range until October when it dropped to around $145,000. In 2009, the median price is hovering between 130,000 and $145,000 so far.

Unit sales and median price have both been strongly affected by foreclosures. Availability of mortgages continues to be an issue as well, especially for the second and vacation home buyers. Forty-four percent of sales were all cash deals, with 35% being new conventional loans, 18% FHA loans, 3% VA loans, and 4% assumed, wraps, or other.

SHORT SALES - WHAT YOU SHOULD KNOW

2009-08-18T09:09:00.000-04:00

STILL HUNTING FOR THOSE BARGAIN HOME SALES?
WHAT YOU SHOULD KNOW IF YOU ARE INTERESTED IN BUYING A SHORT SALE
Short Sales can take between 60 and 120 days or longer for lender approval and your offer is placed in a stack of other offers which may or may not be presented to the bank. Note that in most cases, the bank will accept the highest and best offer, so make sure you understand the particular nature in which your offer will be handled, have the appropriate contingency placed in the contract so you can back out if you feel it is taking too long, and discuss with your real estate professional, what the right course of action would be in your best interest depending on the type of financing you are achieving. This will make it a win-win for everyone. For a more information on short sales, send me an email at Dawnmarie@kw.com.

Forclosures and Pets

2009-07-24T19:55:00.000-04:00

Its sad that many homeowners are falling into forclosure, losing maybe the only asset they have ever owned. But it becomes a sadder situation when the homeowner not only loses his home, but had to give up his beloved pets. I just read an article about a man in Tonawanda, New York who packed up a U-Haul truck of all his furniture, belongings and pets after his home foreclosed. He took the Uhaul to the SPCA and told them he lost his home to forclosure and needed to find a safe place for his pets as he searched for a place to go.

In Connecticutt a local shelter received two 12 year old cats that were brought in by someone who was forced to live in her car after losing her home. And in California the Humane Society received a 20% increase in the number of owners surrendering their dogs and cats because they lost their homes.

People are losing their jobs, their homes, having to relocate out of state and are surrendering their pets who have been part of their families for five years or more.

I don;t think anyone ever expected the scope of this mortgage problem to be so widespread, but given the strength the immense financial strain, many don't feel they can care for their pets.

I don't know how anyone else feels. Many people feel pets are just family companions, while others like myself feel they are a part of the family. Would you surrender your children to an orphanage if you lost your job - No., you'd do whatever possible to make ends meet. An animal provides the companionship, unconditional love and strength to a person in the worst of times and they don't require very much except your love and attention.

I'm interested to know anyone elses take on this... it sure makes you think.

For Sale: 4.4 acres Vacant Land in Brooksville, FL, $163,000

2009-06-17T10:27:00.001-04:00

For Sale: 4.4 acres Vacant Land in Brooksville, FL, $163,000

Shared via AddThis

CONDO FOR SALE - PRICE REDUCED - TAMPA, FLORIDA

2009-05-01T12:16:00.003-04:00

PRICE REDUCED-

VILLA SONOMA @ INTERNATIONAL PLAZA (Tampa, FL)

$236,899 *

MLS #: 7371558

Beautiful TUSCANY-STYLE Condominium living perfactly located in heart of Tampa's Westshore District convenient to Airport, Downtown Business District, Schools, and steps away from fabulous shopping, spectacular dining and happening nightlife. Enjoy the luxury of your own home right around the corner to unwind with style and sophistication at Villa Sonoma. Tranquil in style equipped with your own exclusive health club, resort-style pool and tanning deck, garden and lush landscaping, Water fountains, enclosed air conditioned corridors, Wi-Fi service throughout property, Elevators, grilling area, optional storage and private and secured parking.

Condo Unit has two (2) bedrooms and (2) baths with garden style shower/tub combo, formal dining area, good size kitchen with all new GE appliances, living area, utility room with washer and dryer hookups and large bay window. Deed Restrictions and fees apply. Seller is taking all offers.

This property is truly in a great location. Minutes away from Clearwater Beaches and Safety Harbor Resort and Spa. Minutes from beautiful water views and great shopping. All you could ask for with plenty to keep you busy. And when you want the peace and quiet, Villa Sonoma provides that and more. Visit our Virtutal Tour and see for yourself.

Anyone interested in this property, should contact Dawnmarie Hatfield, TRC Realtor @ 727-772-8919 ext 149 or via email at Dawnmarie@kw.com .

REMEMBERING OUR MILITARY FOR THE HOLIDAYS

2008-11-24T12:00:00.003-05:00

Trying to take care of those at home may be hard this year when it comes to buying gifts. Finding inexpensive ways to celebrate your holidays can still make the most for your family and friends because the thought in putting the gift together should be what matters. Unfortunately, we have many families that will be apart for the holidays. Our Military. And we should not forget the sacrifices they are making for those of us at home that will have the chance to see family for the holidays.

If you can not afford to assist one of the many military programs in sending care packages, etc. Xerox Corporation has a program where you can thank a soldier. You can go to www.LetsSayThanks.com and pick out a card to send. Xerox will print the card for you and mail it to a soldier currently serving in Iraq. You will not be able to select the soldier recipient, but it will go to a member of the armed forces.

If you would like to help out a soldier’s platoon or send a care package, you can visit www.AnySoldier.com or contact me for a list of different military assistance programs or you can go to www.uso.org.

As a sponsor and entertainer for our Armed Forces and the USO, I can tell you from personal experience, that these men and women are very appreciative of what they receive. They experience some of the worst conditions that you or I probably would never imagine and having a touch from home helps the time pass so they can think of coming home. It only takes a second to help out. There are many ways to help out, so please put our military on your list this year During the Holidays.

GIVE BACK FOR THE HOLIDAYS

How can you Help?

Soldiers Far Away From Home

Any Soldier Inc
Any Soldier Inc. started by the family of Army Sergeant Brian Horn as an effort to help him. Horn "was one of the 1,000 soldiers who parachuted into Northern Iraq on March 26th, 2003."Horn's family "knew his unit, the 173rd Airborne Brigade was living under very rough conditions", and they were "sending Brian care packages as often as we could."Then, thinking about the other soldiers in his unit, Horn's father, an Army veteran, started a web site offering ideas and practical links that help make contacting military personnel much easier. Learn about what's needed by and how you can help our troops deployed in Iraq, Afghanistan, Africa, Kuwait, Kyrgyzstan, Qatar, Serbia, Uzbekistan, or at Sea. Information on sending packages, contacting soldiers by email and much more. This site works year-round, so don't limit your efforts to the December holiday time - no matter when you are reading this - drop by Any Soldier Inc. and reach out to a soldier.cite: anysoldier.com.

A Million Thanks

A Million Thanks "is a year-round campaign to show our U.S. Military Men and Women, past and present, our appreciation for their sacrifices, dedication, and service to our country through our letters, emails, cards, prayers, and thoughts.". cite: amillionthanks.orgSend your letter, cards and emails to A Million Thanks and they'll deliver them to military personnel, past and present, in the US and abroad.cite: amillionthanks.org

Military Care Packages
Military Care Packages. "Whether your soldier is learning the ropes at boot camp, or out and about in a foreign land, getting a care package from home gives them the knowledge that people are thinking about them - that's a huge pick-me-up. Military Care Packages orders are shipped in white boxes, have colorful fill to brighten their day and include a card personalized with a note from you. Our top priorities are quality of food and products that go into our care packages, fantastic presentation and top value for your dollar."militarycarepackages.net

Military Exchange Prepaid Calling Cards. The Department of Defense Military Exchanges have been authorized to sell the following prepaid calling cards to individuals and organizations who wish to purchase these [lower rate] cards for our troops serving overseas in Operation Enduring Freedom and Operation Iraqi, freedom.thor.milexch.com

Operation Hero Miles

Operation Hero Miles allows troops stationed in Iraq or Afghanistan to fly home on leave for free. It also gives family members of wounded servicemen and women free plane tickets to visit their loved ones recovering at military hospitals across the country. Donations are currently being accepted from the following airlines: Alaska Airlines, Delta Air Lines, Midwest Airlines, Northwest Airlines, United Air Lines and US Airways.cite: heromiles.org.

Soldiers' Angels

Soldiers' Angels currently supports thousands of American Service Members and the number is growing daily. Work to support wounded soldiers, with transitional backpacks, personal visits, phone calls, etc. They also send thanks via letters and email to the military of Great Britain, Poland and Australia who serve by US soldiers side in Iraq.soldiersangels.com.

Stars and Stripes Holiday Message Program

Stars and Stripes Holiday Message program: Let Stars and Stripes deliver a holiday message from you to your loved one deployed downrange or stationed in Europe or the Pacific. Messages submitted by Nov. 30 will be printed in Stars and Stripes editions around the world in time for the holidays. (Learn more) messages.stripes.osd.mil

USO Operation Phone Home

USO Operation Phone Home makes it possible for the men and women of our armed forces to stay connected to their loved ones. Our troops need phone cards. Your donations will help buy 100-, 300- and 500-minute international long distance calling cards for troops around the world. Please help deployed service members call home by donating to USO Operation Phone Home.uso.org

Wounded & Hospitalized Soldiers

Coalition to Salute America's Heroes
Coalition to Salute America's Heroes was created to provide an easy and meaningful way for individuals, corporations and others to help our severely wounded and disabled veterans and their families rebuild their lives. Your gift will be distributed in Coalition programs that provide emergency financial support to wounded heroes and the families in need, create job conferences, build handicapped-accessible homes, as well as many other initiatives.certifichecks.com

Road to Recovery
Road to Recovery was created to provide an easy and meaningful way for individuals, corporations and others to help our severely wounded and disabled veterans and their families rebuild their lives. Your gift will be distributed in Coalition programs that provide emergency financial support to wounded heroes and the families in need, create job conferences, build handicapped-accessible homes, as well as many other initiatives.saluteheroes.org

For the Families of Soldiers

Family Support Network
Family Support Network resources that will provide housing in private homes and hotels for free or significantly discounted costs. Reduced cost meals and airline flights are also available to assist with traveling expenses; provided hundreds of computers to service members and their families to make sure that they can communicate with each other, network, and have access to all the opportunities that being "online" affords.; experienced individuals who will work one-on-one with wounded veterans to provide you the counseling, encouragement and everyday life-coaching you need to figure things out. They're right there with you to make sure you aren't just settling for "getting by."saluteheroes.org

Homes for Wounded Heroes
Homes for Wounded Heroes forges a partnership between the wounded veteran, government agencies, manufacturers, businesses, and individuals in order to provide new or renovated housing at little or no cost. By connecting all of these various resources, the Homes for Wounded Heroes Coalition is looking to lessen the financial burden these heroes must endure in addition to the physical changes that they must deal with daily.saluteheroes.org

VETERANS DAY 2008

2008-11-11T11:05:00.005-05:00

We thank and honor all who have given selflessly to serve our country in times of peace and war. Throughout history, as men and women have been sent to war, the USO has been there to provide them with a cup of coffee, a smile, a kind word, entertainment, an occasional dance or two and most of all a "touch of home" in a far-off place. The USO began providing service to military members during World War II and continues today for service members supporting Operations Enduring and Iraqi Freedom, and at other duty stations worldwide. Please show your support to our servicemen and women and their families. Go to www.uso.com. See how you can help now, for the holidays and until every last soldier comes home.

message sponsored by Chanssonnier Entertainment and Dawnmarie/HatfieldHomes of Keller Williams Realty @ 2008

Citigroup to help at-risk borrowers stay in homes

2008-11-10T12:01:00.000-05:00

Published - Nov 11 2008 08:50AM EST AP
By SARA LEPRO - AP Business Writer

Citigroup is imposing a moratorium on most foreclosures as part of a series of initiatives aimed at helping at-risk borrowers remain in their homes making Citi the latest big bank to announce sweeping efforts to try to curtail losses from souring mortgages.

Citi said late Monday it won't initiate a foreclosure or complete a foreclosure sale on any eligible borrower who seeks to stay in a home if it is the borrower's principal residence, the homeowner is working in good faith with Citi and has sufficient income to make affordable mortgage payments. Citi said it is also working to expand the program to include mortgages the bank services but does not own. Additionally, over the next six months, Citi plans to reach out to 500,000 homeowners who are not currently behind on their mortgage payments, but who are deemed as potentially needing assistance to keep current with their payments. This represents about one-third of all the mortgages that Citigroup owns, the bank said.

Of the four biggest U.S. banks _ Citigroup, JPMorgan Chase & Co., Bank of America Corp. and Wells Fargo & Co. _ Citi has been on the shakiest footing as a result of the mortgage crisis, reporting losses in the past four consecutive quarters while its rivals have managed to post profits. The steps announced Monday are designed to stem those losses.

"Typically the lender loses the most money when a house goes into foreclosure," said Barry Zigas, director of housing policy at the Consumer Federation of America. "(The lender) takes some kind of loss that's usually much greater than what they sacrificed through some kind of workout."

Sanjiv Das, chief executive of CitiMortgage, said, "It is in our interest that borrowers stay in their homes and actually make the payments."

Citi is targeting homeowners in geographic areas with higher-than-average unemployment and foreclosure rates, primarily in Arizona, California, Florida, Michigan, Ohio and Indiana, Das said. The program is expected to affect about $20 billion in mortgages.

"As the unemployment rate is starting to creep up on us, there is going to be increasing distress in the marketplace," Das said in an interview with The Associated Press. "It's not going to distinguish between what type of mortgage they have."

Why I like Working for Keller Williams Realty

2008-11-10T10:00:00.001-05:00

As a Realtor, for the last year I have seen many, many short sales and foreclosures come about. It's the housing frenzy that everyone has been speaking about which has resulted in our economic decline. The unfortunate is that many realtors and housing gurus have been thriving on the idea of a short sale - hoping to get more homes moving off the inventory and more homebuyers to assist in the economic situation. The only concern that arrives is that not ALL homes are short sale qualified. Not all homeowners in short sales were the "investor" who bought with an ARM financing product that had hoped to turn that property around for a profit before the ARM came due. Many of those homeowners in short sale or foreclosure, were middle class families whom either lost their jobs, had trouble making ends meet and could no longer keep up the payments on the home while fending for their families.

I can't tell you how many companies I have seen, even real estate related, that are taking advantage of this.

What happened to the Realtor that works for you and assists you. Not ever transaction should be about the money. It should be about building relationships and assisting those in need during hard times so that somewhere down the line that homeowner you helped will either refer your services or ask for your services again. I'm not saying Realtors should not get paid for their efforts. Remember I am one. But I am saying that if you receive a client that wants to sell their home because they can no longer afford it, think about their situation before your pocket. Our housing inventory is not moving and as a Realtor you can not guarantee how long it will stay on the market or how quickly it will sell. You just have to offer the best services you can provide and aggressively market their property. In the meantime realize, that homeowner who is in financial trouble still has to pay their bills and if they couldn't pay them when they first signed with you, maybe you need to offer them another approach so the home does not go into foreclosure before you get the opportunity of a buyer. ANd if the sale is a short sale, that sale can take longer than an average sale largely because the lender holds the cards on deciding who will be accepted to purchase that home.

Helping your client by discussing their options to work with their lender is the first step. No bank wants to acquire a home. They want their loan money returned and if they short sale they will receive a loss. They would rather work with the homeowner to keep the home rather than buy it back. The Lender provides Loan modification options - all the customer has to do is contact the lender and ask for help. The lender may require a hardship letter, or other information, but it is really the first step before the family you are working for ends up without a home.

Subscribe to this feed for future information on upcoming programs that you can provide to your clients in this situation.

As a Keller Williams Agent, we learn not to just be a realtor, but a consultant. And in being a consultant to someone who really needs your help, you may just end up their Realtor for Life.

Wishing you all the best.
Dawnmarie Hatfield, TRC Realtor
Keller Williams Realty, Palm Harbor

What is Happening to Down Payment Assistance?

2008-08-07T13:40:00.004-04:00

You may have heard that the FHA seller funded down payment assistance may be going away. What is Really going on?

On July 30, 2008 President Bush signed into effect the bill, H.R. 3221, The Housing and Economic Recovery Act of 2008 authorizing the Federal Housing Administration to refinance loans for up to 90 percent of a home's appraised value, which would help homeowners who owe more than their home is worth. Leaving Lenders with second-home loans to be wiped out and who may not agree to the FHA loan arrangements if they don't also hold the first mortgage on a home. To take advantage of the new program, a homeowner or his mortgage broker would need to convince the lender to write off the amount that the original loan exceeds on the home's market value, plus 10 percent. Lenders would need to write off tens of thousands of dollars on each of the FHA refinanced loans, and the lenders may not be able to take a financial hit of that size, leaving the FHA refinance option to probably work for only a small percentage of financially struggling home owners.

Then on August 1, 2008, a new bill H.R. 6694, The FHA Seller Financed Down payment Reform and Risk Based Pricing Authorization Act of 2008 was proposed by U.S. Representative Al Green (from Texas) and co-sponsored by U.S. Representatives Gary Miller (of California), Maxine Waters (also of California) and Christopher Shays (Connecticut).

This is a new bill that might bring life back to down payment assistance and non-profit companies such as Nehemiah and Ameridream. The bill currently looks like the only hope to keep down payment assistance around after October 1st, 2008 as it would again allow Down Payment Assistance (a.k.a. DPA) to be an allowable gift source for FHA loans. Currently, the recent passing of H.R. 3221 has left down payment assistance discontinued as of October 1, 2008.

Due to the vast amount of foreclosures down payment assistance was included in the recent housing bill and ironically loans with down payment assistance were the majority, not including the loans originated after the Fannie Mae and Freddie Mac programs ended.

How does this new Bill Differ from H.R. 3221?

In order to qualify:

FICO Scores over 680 get a 'free pass' to use Down Payment Assistance.
FICO Scores between 620-680 may require mortgage insurance
They would like to allow borrowers with less than 620 FICO score, but they have to determine the mortgage can be insured without 'resulting in need for an appropriation for a credit subsidy'

Pricing Difference:

The bill requests authorization for risk-based pricing, which is similar to the risk-based pricing that Fannie Mae implemented in the first quarter of this year. If a borrower has less than a 680 FICO score (or 720 in some cases), you will pay a higher interest rate.

Interpretation of the proposed bill

As this bill was just released over the weekend and it has raised a lot of discussion in the mortgage industry, I wanted to share it with those of you in my database. I'm interpreting the bill verbiage and information to the best of my knowledge and as I am not an attorney, would be happy to recommend one to you for a legal determination . There may be some changes needed to this proposed legislation, which I am sure we will see coming.

Who Does this really Affect?

You and those you may know who have been looking at buying a home and cannot come up with the 3% required down payment. Many Americans that are still managing to make their house payments have to purchase their home with little to no money down. So if programs like the seller down payment assistance are taken away, you're going to scare alot of potential buyers right out of the market.

Over the past year, over 32,000 Americans have called on Congress and the Bush Administration to keep down payment assistance around. Some of the large supporters include:

National Association of Homebuilders
Labor Council for Latin American Advancement
U.S. Conference of Mayors
Congressional Black Caucus
Congressional Hispanic Caucus

Talk about a diverse group of supporters. It's obvious that this impacts many Americans and I encourage YOU to take action and do what you can to support this bill. It's a very big deal.

Want To Help Keep Down payment Assistance Around?

Contact your local state representatives! Let them know why you feel Down Payment Assistance is important for Americans.

In the Meantime, if you or someone you know is looking at purchasing a home, let them know that they have until October 1st to close on a loan with down payment assistance. If they need help in getting qualified, let me know. I would be glad to help!

Wishing you all the very best.
Dawnmarie Hatfield, Realtor ®, TRC

DISCLAIMER: You are receiving this email solely on the basis that you requested to be placed on our list to receive information in regards to our properties, programs and/or products. Our lists are used solely by our organization and not sold to any outside vendor. To be removed from this e-mail list, either reply to this message with the word 'unsubscribe' in the subject line and your full name, or choose the UnSubscribe option above. Dawnmarie Hatfield and Keller Williams Realty does not exist to render, and does not give legal, tax, economic, or investment advice. Furthermore, Dawnmarie Hatfield and Keller Williams Realty disclaims all liability for the actions or inactions taken or not taken as a result of communications from or to its officers, directors, members, employees, and contractors. Legal advice should be obtained through a qualified real estate attorney. Each individual should consult his/her own legal counsel, accountant and other advisors as to legal, tax, investment, economic, and other related matters concerning real estate and other investments. This email in no way solicits your business if you are currently working with a Realtor. You may unsubscribe from further email contact by clicking the unsubscribe button above.

My Real Estate Credentials on a New Level

2008-07-29T20:39:00.002-04:00

As of July 19th, 2008 I will now be able to assist buyers and sellers on a national basis through my designation as a Transnational Referral Agent. With this designation I will be able to list a local seller's home in a national database seen by over 8 million people through out the continent with other transnational agents that are members of the International Consortium of Real Estate Association.(ICREA). If you know of anyone selling in the Florida Counties of Pinellas, Hillsborough, Hernando & Pasco that could benefit with national exposure in selling their properties, please do not hesitate to refer them to me.

If you are a Florida Buyer in these counties, that is interested in purchasing property in a country outside the United States, please contact me and I will be happy to put you in touch with an ICREA TRC agent in that country to help you.

It's another way to stand out above the rest in real estate in the area and I am excited to be able to present this to our community.

2008-07-29T20:12:00.002-04:00

NEW FORECLOSURE LAW
EFFECTIVE OCTOBER 1, 2008

Effective October 1, 2008 a new foreclosure law will go into effect in Florida. This new law will eliminate “subject to” on a primary residence in foreclosure and a person in foreclosure on their primary residence will have 3 days to change their mind when selling their house. This is similar to a refinance of a mortgage where the Seller can decide whether or not to keep the new mortgage on the property.

In addition, Real Estate Agents could be responsible for knowing the status of the Seller's mortgage as well as whether or not they are in foreclosure. As a result of this new law, many Real Estate agents and investors may just choose not to help people in foreclosure because of all the extra potential liability and as this new law will limit the ability to collect any up front fees, as some short sale negotiation companies do and the seller will be restricted from paying them.

For more information the new law can be reviewed by going to MyFloridaHouse.gov. If you are a seller or a buyer/investor and would like more information on how this new law will affect you, please do not hesitate to contact me.

Dawnmarie Hatfield, Realtor ®, TRC

TOP STORY - Rates Creep Up

2008-06-16T17:10:00.003-04:00

A recent survey and a rate increase could mean more competition for homes

Recent indication is that first time home buyers are getting tired of sitting on the sidelines. According to a recent online poll taken by the National Apartment Association, 17 percent of renters plan to make the jump to home ownership in the next year; 41 percent of the 2,041 respondents planned to be home owners within two years. Only 31 percent planned to still be paying rent five years from now.

Another factor that could very soon contribute to an increase in home buying could be rising mortgage costs. Fixed-rate mortgage rates rose to 6.32 percent, the highest it has been since October. After months of aggressively dropping interest rates, many lenders are worried that the Fed will be forced to raise rates back up. As interest rates rise, so do mortgage rates. According to a press release on freddiemac.com, Frank Nothaft, Freddie Mac vice president and chief economist said that, "Mortgage rates jumped this week after a number of Federal Reserve officials, most notably Chairman [Ben] Bernanke and Vice Chair [Donald] Kohn, expressed concern over a threat of inflation." We may very well be seeing the beginning of the end of the super-low mortgage and potential buyers may realize that with rising rates, now may be the time to jump in. Nothaft added, "Moreover, pending home sales for April unexpectedly rose by 6.3% and mortgage applications for home purchases ... were also up last week."

* www.kw.com

Will Outdoor Home Improvements Increase your Home's Value?

2008-06-06T14:50:00.003-04:00

Thinking about making outdoor improvements to your home to increase your home's value? Before you do, you may want to take a look at this Video to make sure the improvements you are suggesting will actually make a difference.

Wedding Registry FHA Programs

2008-06-05T18:37:00.006-04:00

In Florida, April through June and October through December are the busiest months for weddings. Newlyweds find the beach, the beautiful blue-green water and the area's weather to play a big factor in their decision for a destination wedding and that means many family, friends and guests are traveling to join in the big occasion. With that in mind, many of the newlyweds select to set up wedding registries so their guests have a convenient way for wedding gifts, so they are not having to be mailed, toted on airlines or possibly lost during travel.

Many of the popular registries are through specialty department stores like Dillards, Macy's, Waterford, etc., while others are through Home Depot, Lowes, Target, etc.

But what about a registry that is for a particular purpose. Like an account for monetary gifts to allow the newlyweds to put a down payment on a new home. After all, they are getting married to start a new life together, and with a buyer's market being in play, what better idea than an FHA bridal registry account. Lending options vary and with prices rapidly increasing many couples need help.

Many wedding ettiquite books shun away from requesting money at a wedding, while others provide formal and informal ways to politely ask.

SO HOW DO YOU ESTABLISH SUCH AN ACCOUNT:

Just as you might register at a department store for wedding gifts, the Bridal Registry program allows couples to register with a lender and open up an interest-bearing account. Family and friends can deposit wedding gifts of cash into this account and then these gifts can then be applied toward a down payment on a home.

One such lender is SunTrust Mortgage, a subsidiary of SunTrust Banks. Through SunTrust Mortgage, you can open a bridal registry savings or checking account at SunTrust Bank. When a wedding guest makes a deposit, the bank sends a card to the bride and groom to let them know. If you do not have a SunTrust Mortgage in your area, you can ask your lender for details.

WHAT MAKES THIS ACCOUNT DIFFERENT THAN FROM JUST OPENING A REGULAR SAVINGS ACCOUNT?

By using the FHA Bridal Registry-type account, it saves from the couple having to keep track or document where the monies come from. You can always open a regular old savings or money market account to hold your down payment fund, but you might need to document where the money came from. That's easy enough when the money comes from your paycheck, but if some of the money comes from gifts, be prepared to document the source. So if you choose this option, it is best to encourage gift-givers to give checks from their personal accounts so the monies can be traced.

In a nut-shell, an FHA Bridal Registry is a great option when thinking about choosing a registry for a wedding and it provides a way for the couple to establish a savings to make a payment on a house. Visit your lender and ask them about the FHA bridal registry progam. You'll be so glad you did.

* Information obtained from SunTrust Mortgage Programs, and US Dept. of Housing & Urban Development.

RENTING YOUR HOME

2008-05-30T11:50:00.005-04:00

The market is ever changing and in our current market, many homeowners have chosen to rent out their properties rather than sell.

The business of renting out your real estate properties is often confused as simply being an aspect of the business of investing in real estate. But make no mistake, when you buy a property and rent it out you are now effectively running a business and in order to protect you and your asset you'd better know the law.

Treating rental property, especially residential, on your own as an investment is like handling your own stocks and bonds. You really run a huge risk for liability that could cost you your entire investment.

Landlords frequently ask about the best way to screen tenants. Any legal expert will warn you that this is an area that is fraught with potential liability because on top of having to watch out for violating federal laws, every state also has regulations that apply to screening tenants.

There are three basic areas that landlords need to check: credit history, past tenant behavior and criminal history. But there are federal acts and various state laws that protect the person being investigated, without having this knowledge, a landlord could easily violate them and end up owing a lot of money. Fines and Penalties that could be as high as $10,000 per incident for some violations.

Some of the greatest risks involve violating federal acts such as the Federal Fair Housing Act which identifies seven protected classes: religion, national origin, race, ancestry, sex, familial status and disability. There is also the Federal Credit Reporting Act which states things such as if you turn potential tenants down you must give notice in writing to them explaining why they were turned down if it was fully or partially based on their credit report. You must also let them know that they can dispute the information that is on the report with the credit reporting company that produced the report and you must provide name, address and phone number of the credit reporting agency.

Violating the Federal Fair Housing Act could happen with just a tenant claiming that you're using different standards for them from those for someone else.

Let's say, that you bring in a tenant who is not a member of a protected class, but the one you turned down is a member of a protected class and is also just as qualified, on paper, as the person you accepted. The one you turned down may claim illegal discrimination as the reason for not being accepted.

The best way to get good tenants for your property and protect your assets is to use a property management company. But if you not interested in doing that, at least, hire an objective, third party to handle the screening of your tenants. This way when a credit check is being done you have a standard already in place.

The [screening companies] that work best are the ones that actually give you a credit score. So you decide what level [score] you want to qualify and if the [prospective tenants] score above that level, then you accept them. If they don't [score above that level] then you don't accept them.

The bottom line, is that in order to protect your bottom line you'd better hire professionals who know the laws to handle this area of your business.

Copyright © 2006 Realty Times. All Rights Reserved.

MSFH Program to Cease Accepting Grants on May 31, 2008

2008-05-15T15:02:00.005-04:00

Florida’s mitigation grants for homeowners to end soon
“How Fast Can You Save Money?”

The Florida Department of Financial Services launched two 30-second TV commercials, in which viewers compare, in a funny way, the ease of applying for a free Florida wind inspection to some outlandish alternatives.

To view the commercials and learn more, click here.

***************************************************************************************

TALLAHASSEE, Fla. – May 14, 2008 – The My Safe Florida Home (MSFH) program will achieve its goal of 35,000 grants to homeowners by the end of this month, and the first-come, first-served program will stop accepting grant applications. The MSFH program will transition to an inspection-focused program beginning June 2008, offering free wind inspections for eligible homeowners until it reaches the Legislature’s goal of performing 400,000 inspections or until the program sunsets in June 2009.

“With hurricane season less than one month away, I encourage Floridians to sign up for a free wind inspection to learn how to harden their homes against hurricane damage,” says Florida Chief Financial Officer Alex Sink, who oversees the Department of Financial Services.

“The response from homeowners has been overwhelming, and I thank the Legislature for creating this program and allowing us to enable more than 35,000 Floridians to make their homes more storm-resistant.”

The MSFH program will provide home inspections for at least 400,000 site-built, single-family residential properties, and provide grants to at least 35,000 applicants. To date, the MSFH program has approved approximately 32,292 homeowners for mitigation grants, paid 6,930 grants totaling more than $22.4 million, and provided more than 222,981 free wind inspections. Participating homeowners receive a wind inspection report, which suggests ways they can harden their homes against storm damage.

Many homeowners save money on insurance premiums immediately. Since insurers generally offer discounts for certain hurricane-resistant features in homes, the independent inspection confirms existing structural components worthy of a discount. Homeowners may not know their home has the protection or that their insurer offers a discount for it. In some cases, the insurer requires an inspection before it offers the discount and the homeowner cannot afford the cost of a private inspection.

According to Sink, 59 percent of the homeowners who have received a free wind inspection so far were eligible for a discount that averaged $217 statewide.

Grant application deadlines Online: Saturday, May 31, 2008

Over the phone: Friday, May 30, 2008

Proof of homestead and insurance and/or income: Postmarked no later than June 13, 2008

For additional information, log on to www.MySafeFloridaHome.com.

All information within this post was provided from the Florida Association of Realtors as of May 14, 2008.

2008-03-26T08:00:00.000-04:00

Buy or Sell?
Published on 08/23/04By Lewis J. Corcoran - Realtor-Associate - Weichert, Realtors

The classic dilemma for many homeowners is whether to buy or sell first? If you sell first, you may find yourself faced with a tight deadline, or you may even need to find a short-term rental.

If you buy first, you may be saddled with two mortgage payments. Or, you may need the cash from the sale of your home in order to qualify for the loan on your new home.

There is no "right" answer. It depends on your specific circumstances. Most homeowners agree that it is more prudent and less stressful if you sell your existing home before you buy a new one. You can often get top dollar for your home if you are not under pressure to sell. And you are in a better position to negotiate on the buying side of the transaction. If you have to make an offer contingent on the sale of your home, you often lose negotiating leverage.

If you sell your current home and the home you select isn't available when you are ready to move, you may end up with cash in hand in a short term rental. No one wants to move twice, but it may be well worth it to eliminate risk and have more money to work with.

Owner's Tip: Before you make the "buy or sell first" decision, get some professional advice.

Owner's Tip: In some active markets, sellers will not even entertain a contingent offer.

If you would like help coordinating your next move, please don't hesitate to call or email.

HATFIELDHOMES

HATFIELDHOMES: Safety Harbor Spa Bankruptcy affects City

Safety Harbor Spa Bankruptcy affects City

RENOVATED, REDUCED AND READY TO MOVE-IN

HOMES AFFORDABLE PROGRAMS

NEW FHA Changes that can affect you as a Borrower

NEW HAFA RULES TAKE EFFECT

HOMES FOR HOMETOWN HEROS- Price Reduced

Foreclosures and Short Sales

5 Tips for Buying a Foreclosure

6 Tips for Buying a Home in a Short Sale

HOMEOWNER ASSISTANCE PROGRAM FOR OUR MILITARY

NEW GUIDELINES FOR FHA –APPROVED CONDOMINIUMS

HOMEOWNERS IN MORTGAGE DISTRESS

Homeowners could find liens against property with bad contractors

PRICE REDUCTIONS FOR 2010

GREAT TIME FOR VETERANS TO BUY

Sellers Can Offer Buyer Financing to Sell Home

What Floridians Need to Know About Insurance

Pinellas County Sales for July - UP!

SHORT SALES - WHAT YOU SHOULD KNOW

Forclosures and Pets

For Sale: 4.4 acres Vacant Land in Brooksville, FL, $163,000

CONDO FOR SALE - PRICE REDUCED - TAMPA, FLORIDA

REMEMBERING OUR MILITARY FOR THE HOLIDAYS

VETERANS DAY 2008

Citigroup to help at-risk borrowers stay in homes

Why I like Working for Keller Williams Realty

What is Happening to Down Payment Assistance?

How does this new Bill Differ from H.R. 3221?

Interpretation of the proposed bill

Who Does this really Affect?

My Real Estate Credentials on a New Level

TOP STORY - Rates Creep Up

Will Outdoor Home Improvements Increase your Home's Value?

Wedding Registry FHA Programs

RENTING YOUR HOME

MSFH Program to Cease Accepting Grants on May 31, 2008