Just Sold Bay area Short Sale

Once again "I did, what I do", I listed and mitigated another succesful short sale.
The great thing, the lender provided a documentation stating they will not pursure the seller for the deficiency.



Ainsley Daux
Florida Realty
(813)546-1954

Just Sold 1613 Crossridge dr. Brandon, FL 33510

2012-the year of the short sale

Here is a very interesting article

2012 - the year of the short sale? By Tom Tryon: "Here is the real-time tale of two real estate markets. One market is depressed and distressed. Propertyvalues are down. Since mid-2006, residential values in Florida have declined by 51%. Hundreds of thousands of properties havebeen, or are, in foreclosure and huge numbers of homes have beenrepossessed. Consider these statewide numbers, presented byanalyst Jack McCabe during last week's Herald-Tribune Hot Topicsforum:- 150,000 residential properties in Florida have beenrepossessed, and are owned, by banks.- 371,000 foreclosure cases are open in courts.- 530,000 residential mortgage loans are at least 90 days pastdue and in default.- 265,000 homeowners have not made a mortgage payment in morethan two years.- 1 million residences are in some form "distressed," whether inforeclosure, owned by banks or in default.

- 46% of mortgages "under water" - in other words, the debtexceeds the current market value of the residential property.Add this number - 809, the average number of days to process aforeclosure in Florida - and it's easier to understand whyso-called short sales, in which owners and mortgage holders sellat steep losses, are viewed as advantageous options and positivemovements in the total market. The overriding question posedduring the forum was: Will 2012 be the Year of the Short Sale? The answer, expressed by the overwhelming consensus of McCabe,the guest speaker, the panel - Michael Braga and Harold Bubil ofthe Herald-Tribune; attorneys Nancy Cason and Tom Avrutis - andaudience was: Yes. There was one caveat: 2013 might be theSecond Year of the Short Sale. That's because the volume ofpending foreclosures — and the imminent threat of even more,could make it impossible to clear this "shadow inventory" fromthe real estate market. There was widespread agreement among the150 people — analysts, lawyers, bankers, real estate agents anddevelopers — who attended the forum that more lenders arewarming to short sales, despite the bottom-line effects ofwriting off losses. What's more, the homeowners in financialperil are overcoming the psychological hurdles - and coming toterms with the financial implications of - short sales. The real estate market is so complex that it's impossible tocover in a multi-day symposium

much less a 90-minute forum. ButI took away two simple points: 1) The current market is like asummer day in Florida: Dark and cloudy during one part of theday, with scattered sunshine and the possibility of bright daysahead; 2) It's no wonder my wife and I have stayed in the samehome for 25 years; real estate makes my head spin

Bank of AMerica New Short SALE Relocation Assitance

Bank of America or BOA for short has once again initated its relocation assistance.
This time they are providing up to $30,000 in relocation assistance. Not all distress sellers will qualify for this program. If you are deliquent on your mortgage I would advise to call Bank of America and inquiry on moving assistance.
Please see below for a list of questions and answers from Bank of America.

Frequently Asked Questions:
Q: How can I find out if my client qualifies for this limited time offer?
A: Call a Bank of America short sale specialist at 1.877.459.2852
Monday - Friday 8 a.m. - 10 p.m.; Saturday 9 a.m. - 5:30 p.m. Eastern.

Q: Do I have to do anything special when initiating or completing the short sale?
A: No. But act quickly by initiating the short sale at agent.equator.com.  This is a limited-time offer that your clients won't want to miss out on.

Q: If a short sale is initiated with an offer, will it qualify for this enhanced relocation assistance?
A: No. Short sales initiated at the time an offer is received do not qualify for the enhanced relocation assistance funds.

Q: Is the enhanced relocation assistance eligible to non-owner-occupied properties?
A: Yes, it is available to non-owner-occupied properties.

Q: Will the relocation assistance funds be reported on the HUD-1?
A: Yes, funds received at closing will be documented on the HUD-1, and a 1099-MISC will be issued.

Q: Can the relocation assistance funds be used to pay off existing liens?
A: Yes, the homeowner may use funds to pay off existing liens or to help with relocation expenses.

Q: Is the enhanced relocation assistance added to any other incentives, such as the HAFA or Bank of America Cooperative Short Sale Program incentives?
A: The homeowner incentive will be inclusive of the $3,000 HAFA incentive. For example, if the homeowner is eligible for $5,000, then $3,000 will be from the HAFA funds and the remaining $2,000 will be from Bank of America homeowner incentive funds.


Please feel free to call or email with any short sale questions or concerns.
Thank you,

Ainsley Daux
Florida Realty
(813)546-1954

New Short Sale.....Great fixxer upper in Pinellas Park

This is a bank approved short sale.
Some work is needed but the potential is there.
Location, location, location, this is lake front home it boast 3 bedrooms, 2 bedrooms, 1 car
garage, almost 1500 sq ft...
Take advantage of this short sale.

Ainsley Daux
Florida Realty

(813) 546-1954

New Tampa Bay Short Sale

Tampa Bay Short sale located in North Tampa.

This is a duplex which boast 2 bedrooms and 1 bathroom in each unit.

This duplex needs alot of work.

Listed at $28,000

Ainsley Daux

Florida Realty

(813)546-1954

Just Sold in Tampa Bay

Just closed on this well kept condo located near USF.

I assisted my buyer in purchasing this 2 bedroom, 2 bathroom condo.

Ainsley Daux

Florida Realty

(813)546-1954

Short Sale Tax (Mortgage Debt Relief Act)

The Mortgage Debt Relief Act became effective in 2007. The act allowed owners selling their home as a short sale not be responsible to pay taxes on the deficiency amount. The deficiency amount is the difference between the what is owed on the mortgage and what the proprerty sold for. The tax change means the seller would owe federal income taxes on that amount forgivin by the bank. For example, if the seller is in the 15% tax bracket, they would owe the IRS $15,000 on a $250,000 lien that sold for $150,00. Some real estate analysts think doing away with the tax incentive will sabotage the government’s efforts to gradually move people out of homes they can no longer afford. That will end in 2013, giving homeowners until the end of this year to get out from under their debt without facing tax consequences. Tim Becker, director of the University of Florida's Bergstrom Center for Real Estate,said the tax change may force some owners to walk away from their homes outright. Letting the tax exemption expire doesn't make sense and runs contrary to the government's attempts to bring some financial stability to the housing market.

Ainsley Daux
Florida Realty
(813)546-1954

New Tampa Bay Short Sale

Dont miss out on this one.

This home is in mint condition

This home is centrally located near I275, the mall, resturants and entertainment.

It boast 3 bedrooms, 2 full bathrooms, a formal living room, a family room, wooded floors, a fenced yard and much more.

Call before its gone.

Thank you,

Ainsley Daux

Florida Realty

(813)546-1954

Happy New Year

Wow its a new year. Its 2012!!!


May everyone have God Blessesd 2012.


With a new year it bring changes, at least it should bring changes.


If you are considering purchasing a home this year, take the steps now to prepare.


Step one: Pull a copy of your credit. You can use agencies such as Free credit.com or talk to a loan officer.


Step two: Review your credit for descrepencies. Check for open balances that were previously paid off that continues to show an open balance. Also check credit lines that may not belong to you. If you find any balances that were previously paid, contact the credit bureaes and dispute the balances.


Step Three: Save money, if you are planning on obtaining an FHA loan, you will need 3.5% of the purchase price.


Step four: This is critical, plan a budget plan. Track you spending. Keep all your reciepts and review them at the end of the month and try to elimnate careless spending.


Step five: If you have open revolving credit, try to reduce the balances. Do not open any other credit lines, do not go out and buy a new car.

Hope this help.
If you need additional information, please feel free to call.
Thank you,

Ainsley Daux
Florida Realty
(813)546-1954