A Decline in Pending Home Sales

      A Decline in Pending Home Sales

 

According to NAR or the National Association of Realtors, pending home sales declined for the fourth consecutive month in September. Experts say higher mortgage interest rates and higher home prices may have contributed to the decline in pending home sales.

 

 

Lawrence Yun, NAR chief economist, said concerns over the government shutdown also played a role. "Declining housing affordability conditions are likely responsible for the bulk of reduced contract activity," he said. "In addition, government and contract workers were on the sidelines with growing insecurity over lawmakers' inability to agree on a budget. A broader hit on consumer confidence from general uncertainty also curbs major expenditures such as home purchases."

 

Yun notes this is the first time in 29 months that pending home sales weren't above year-ago levels.

 

 As a professional in the business most buyers I work with are complaining of the lack of inventory and higher home prices may affect their decision on a purchase.

Speaking to other professionals, many state that low appraisals are also contributing to canceled contracts.

 

Please see below for the “ Pending Home Sales Index”.

The Pending Home Sales (PHS) index measures housing contract activity. It is based on signed real estate contracts for existing single-family homes, condos and co-ops

 

The Pending Home Sales Index, a forward-looking indicator based on contract signings, fell 5.6 percent to 101.6 in September from a downwardly revised 107.6 in August, and is 1.2 percent below September 2012 when it was 102.8. The index is at the lowest level since December 2012 when it was 101.3; the data reflect contracts but not closings

 

The PHSI in the Northeast dropped 9.6 percent to 76.7 in September, and is 6.4 percent below a year ago. In the Midwest the index fell 8.3 percent to 102.3 in September, but is 5.7 percent higher than September 2012. Pending home sales in the South slipped 0.4 percent to an index of 116.2 in September, but are 2.0 percent above a year ago. The index in the West dropped 9.0 percent in September to 97.3, and is 9.8 percent lower than September 2012.  

 

Thank you,

Ainsley Daux

Florida Realty

(813)546-1954

Price Reduced........Dover Mansion.......THIS WILL not LAST LONG!!!!!

Custom Built Executive style home located in the highly desired community of Jaudon Ranch Estates. This Impressive custom home is situated on over an acre lot and has mature, plush manicured landscape. As you  pull in the circular drive way, the Mediterranean style home with a tile roof exudes pure elegance. As you enter the home through the double doors with Imperial French antique glass, you can not miss the chandelier to fit a king's castle. As you walk through the foyer you will notice a large formal dining room which is surrounded by Poles. The hall way to the master bedroom has been hand painted with faua finish. There is  oval double door entrance to the master bedroom. The master bedrooms boast his and hers walk in closets, a sitting room and a beautiful well designed stylish master  bathroom. The breakfast nook has double pane bay windows which provides a view to the manicured landscape. THE INCREDIBLE KITCHEN WITH TOP OF THE LINE STAINLESS APPLIANCES,GRANITE,OVERSIZED ISLAND,UPGRADED SOLID WOOD CABINETRY,**Truly a Gourmet Chef's Kitchen**  Incredible GREAT ROOM with Magnificent Wall-to-Wall Built-In EntertainmentCenter/Book Shelves/Storage - DOUBLE SET OF FRENCH that leads to the patio which has a built kitchen. The home also has surround sound and an intercom system. This will not last long.

Ainsley Daux
Florida Realty
(813)546-1954

New Short Sale
Just Listed!!!!
North West home currently rented, centrally located to shopping centers, restaurants and entertainment.
This one is a winner and will not last, please call or email to see this home today.

Ainsley Daux
Florida Realty
(813)546-1954

Unpaid Mortgage debt May go to Collections

Unpaid Mortgage debt May go to Collections

According to The Los Angeles Times (Oct. 13, 2013)

Fannie Mae and Freddie Mac have stepped up their program to collect unpaid mortgage debt from “strategic defaulters”. The term strategic defaulter was coined for homeowners who opt to default on their mortgage even though they had the ability to pay.

The Federal Housing Finance Agency (FHFA) that regulates Fannie and Freddie is pushing them to pursue judgments against the homeowner forcing him or her to pay the deficiency after a home is sold thru foreclosure. This will take place if a home is sold at a foreclosure but the proceeds does not cover the outstanding balance of the homeowner’s loan..

 So far, the office says it has identified about 58,000 foreclosures that Freddie Mac did not refer for collection – and estimated deficiency of about $4.6 billion.

 Some states do not allow deficiency judgments, but in more than 30 states and the District of Columbia, they’re permissible. Florida is one of the states that allows Fannie Mae and Freddie Mac to seek repayment of lost funds.

 
Ainsley Daux is a Licensed Realtor in Florida, he specializes in short sales, working with first time home buyers, working with investors, and selling Florida Homes.

 Ainsley  Daux

Lic Realtor
Florida Realty
(813)546-1954

Just Sold Brandon """HUD HOME"""I did it Again

Just Sold this magnificent Brandon HUD Home  to a Happy Buyer. HUD homes are residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage.
This home boast 3 bedroom 2 bathrooms a garage, over 1000sq ft and centrally located.
Please call or message Ainsley Daux to help you with your home search.
Thank you,

Ainsley Daux
Florida Realty
(813) 546-1954

'''Florida has the Highest Forclosures Rate'''

Interesting news.!!!!

Despite the fact that the Florida Market has shown major improvements in prices and sales volume, Florida has the largest foreclosure volume in the Nation…..Make you say ”Hmmm” according to CoreLogic, no other state was even close.

 The foreclosure fiasco has been going on for 5 years and there is still a s ugh amount of foreclosures, so what about all the modification that were supposed to take place. Stay tuned for that UPCOMING  post.

During the last 12 months, 17% of all foreclosures were in Florida; according to the Irvine, Calif.-based data firm 111,000 of the 658,463 foreclosures were in Florida.

 Michigan ranked No. 2,60,000 foreclosures, and

No. 3 California wrapped up 58,000 proceedings during the period.

No. 4 Texas, with 43,000 foreclosures finalized, and

 No. 5 Georgia, where 40,000 were finished


According to, Corelogic s7.9 percent of mortgaged homes in Florida were in some stage of foreclosure in August. New Jersey ranked second among the states, with 6.2 percent of all its mortgaged residences in foreclosure. New York had 4.9 percent; Maine, 4.0 percent; and Connecticut, 3.9 percent.

Florida also had the highest rate of seriously delinquent mortgages in August with 12.4 percent of its mortgages past due for 90 days or more. That was more than twice the national delinquency rate of 5.3 percent of loans, Corelogic said.

Is it the banks responsibility to keep owner in their homes? That’s an argument that has been going on for years.

Ainsley Daux is a Licensed Realtor in Florida, he specializes in short sales, working with first time home buyers, working with investors, and selling Florida Homes.


Ainsley Daux

 Florida Realty

Lic Realtor

(813)546-1954

""""""Just Sold Town-n Country condo""""""""

                                                   JUST SOLD

Just sold a condo located in the desired community of the Greens in Town n Country.
The condo was in immaculate condition and provided a great view of the pool. It boast 1 large bedroom a remolded bathroom, a hugh family room and much more.
I provided my expertise and negotiated a great deal for my buyer.
For my more information, please feel free to call or email.
Thank you,

Ainsley Daux
Florida Realty
(813) 546-1954

"""""""""Proposed Flood Insurance Change"""""

Proposed changes to Flood Insurance law could go into effect October 1st, 2013 if passed.

 

According to FEMA: 

 

1) Owners of non-primary/secondary residences in a Special Flood Hazard Area (SFHA) will see 25 percent increase annually until rates reflect true risk.

2) Owners of property which has experienced severe or repeated flooding will see 25 percent rate increase annually until rates reflect true risk.

3) Owners of business properties in a Special Flood Hazard Area will see 25 percent rate increase annually until rates reflect true risk. 

 

4) Owners of primary residences in SFHAs will be able to keep their subsidized rates unless or until:

     * You sell your property; 

     * You allow your policy to lapse; 

     * You suffer severe, repeated, flood losses; or
     * You purchase a new policy.

 

5) If you live in a community that adopts a new, updated Flood Insurance Rate Map (FIRM), discounts - including grandfathered rates -- will be phased out. This will happen gradually, with new rates increasing by 20% per year for five years. Implementation is anticipated in 2014.

 

If you have any additional questions or concerns, please contact a local Insurance Agent.

 

Thank you,

 

Ainsley Daux

Florida Realty

(813)546-1954

 

 

Fannie Mae Approved Condominiums in Tampa Bay and surrounding areas

Fannie Mae Approved Condominiums

Its almost impossible to obtain financing on condos In Tampa Bay. With all the foreclosures, HOA delinquency and tenant to owner occupancy ratios many lenders prefer not to loan on condos. In the recent  year, most condos were purchases were cash purchases. The tides has changed some in the last 6 months to a year, now that many of the Condo communities are filling up the vacancies, some with investors others with owner occupants; the HOA fees are being paid. There are still many communities that are not financial stable but there many that are meeting the budget. Saying that,  Fannie Mae has 95% financing for Condo Communities in the Tampa Bay area. Below is the list of all the communities that are approved for Fannie Mae financing.  For any additional questions, please feel free to call or email.
Thank you,

Ainlsey Daux
Florida Realty
(813)546-1954



Tampa                                                                                              Clearwater

Carrollwood Gables                                                                          Grand Bellagio at Baywatch
Grand Central at Kennedy Residences                                             Station Square Condominiums
Grand Key                                                                                         The Club at Feather Sound
Harbour Place City Homes                                                                Water's Edge Condominium
Island Club at Rocky Point                                                                 Meadowlake Palm Harbor Condo
Lake Chase Condominum
Parkcrest Harbour Island
Schooner Cove
The Pinnacle at Carrollwood
The Plaza Harbour Island
Tudor Cay


Saint Petersburg

Enclave at Saint Petersburg
Casablanca Towers
Casa del Mar III
Snug Harbor
Waterside at Coqunia Key-South

New Listing""""""""Dover Mansion""""""Situated on 1.50 acre lot

Custom Built Executive style home located in the highly desired community of Jaudon Ranch Estates. This Impressive custom home is situated on over an acre lot and has mature, plush manicured landscape. As you  pull in the circular drive way, the Mediterranean style home with a tile roof exudes pure elegance. As you enter the home through the double doors with Imperial French antique glass, you can not miss the chandelier to fit a king's castle. As you walk through the foyer you will notice a large formal dining room which is surrounded by Poles. The hall way to the master bedroom has been hand painted with faua finish. There is  oval double door entrance to the master bedroom. The master bedrooms boast his and hers walk in closets, a sitting room and a beautiful well designed stylish master  bathroom. The breakfast nook has double pane bay windows which provides a view to the manicured landscape. THE INCREDIBLE KITCHEN WITH TOP OF THE LINE STAINLESS APPLIANCES,GRANITE,OVERSIZED ISLAND,UPGRADED SOLID WOOD CABINETRY,**Truly a Gourmet Chef's Kitchen**  Incredible GREAT ROOM with Magnificent Wall-to-Wall Built-In Entertainment Center/Book Shelves/Storage - DOUBLE SET OF FRENCH that leads to the patio which has a built kitchen. The home also has surround sound and an intercom system. This will not last long.

Ainsley Daux'
Florida Realty
(813)546-1954

3 Different types of Deeds to Convey Ownership in Florida

There are normally three types of deeds that are used in the state of Florida to convey title. The 3 different types of deeds are: Statutory warranty deed, Special Warranty deed and Quit Claim deed.

Statutory Warranty Deed

A statutory warranty deed is also known as  general warranty deed. It fully warrants title to the property being conveyed against any and all claims. It offers the broadest warranty of any of the deeds. It is called a statutory warranty deed because a form for it is set out in the Florida Statutes. Statutory warranty deeds are used in most residential real estate transactions in Florida

 

Special warranty deed

A special warranty deed gives only a limited warranty of title. It warrants the title but only against claims of people who are claiming by, through, or under the grantor in the deed. There is no statutory form for a special warranty deed in Florida. Special warranty deeds are frequently used in commercial real estate transactions and in deeds from developers of condominiums or subdivisions.

 

 

Quit claim deeds

A quit claim deed gives no warranties. While it conveys whatever title the grantor may have, in executing a quit claim deed, the grantor is not representing that he owns the property or that he has the right to convey. Quit claim deeds may not be used a root of title under the Florida Marketable Record Title Act. Quit claim deeds are frequently used to help clear title problems or clouds on the title to property. There is no statutory form for a quit claim deed in Florida.

For legal advice please contact an attorney.

 

For any additional questions, please call or email.

Ainsley Daux

Florida Realty

(813)546-1954

 

 

 

 

Good News for the US real estate market

According to FNC Residential Price index the housing market had an increase of 0.7% from March to April. The FNC Residential Price index is the first hedonic or first platform to estimate values of the Residential market.

The 0.7% market increase is the largest increase since June 2012. That is great news considering the hugh slump we’ve had the last few years. The increase is due to historically low interest rates, credit availability, low prices and other factors.  In many markets including the Tampa Bay market, the inventory is low and there are multiple offers on homes. Many of times the offer are cash.

The FNC also noted that Foreclosure activity continued to decline, with distressed sales meaning Bank owned homes and short sales make up only 16% of total home sales, down from 17.8% in March and 21.6% a year earlier. All the factors indicated above demonstrate the market is recovering.

 

Ainsley Daux

Florida Realty

(813)546-1954

www.brandonpremierrealestate.com

Just Sold another Brandon Home

Just sold this beautiful townhome located in Brandon.
A lucky family had the opportunity to purchase this newer townhome centrally located in a gated community. I represented the buyers with the purchase of this rare 3 bedrooms, 3 bathroom townhome.
If you would like more information on Brandon homes, please feel free to call or email.
Thank you,

Ainsley Daux
Florida Realty
(813)546-1954

New Rules to Aid Struggling Home Owners

New Rules to Aid Struggling Home Owners

Here is the latest new to assist struggling home owners, the Consumer of Financial Protection Bureau stated that US banks will have to do more to help struggling mortgage borrowers keep their homes.

The Consumer of Financial Protection Bureau was established by  Congress  to protect consumers and help them understand their terms of agreement with their financial companies. The Consumer of Financial Protection Bureau or CFPB stated last week the mortgage servicers will have to evaluate all troubled home loan borrowers and find out if they qualify for any loan-assistance permitted by the investor. At this point there are no laws or mandates that require lenders to assist troubled or defaulted home loan borrows.

The Bureau also announced that the lender will not be able to start the foreclose process until the borrow has missed 4 payments. The 4 months period should allow the borrow time to submit a loan-assistance application. The lender will be required to provide documents on what programs that are available to the home owner

The new rule take place in a year, it should help alleviate the number of foreclosures.  This will not prevent foreclosures but it may slow down the process. For more information please visit  their website.

Please call or email to address any real estate question or concern.

Thank you,

Ainsley Daux
Florida Realty
(813)546-1954

 

How to Increase your Credit after a Short Sale!!!!

 What is a short sale
A short sale is when a bank allows the owner or mortgage holder to sell the home for less than owed on the mortgage. A short sale is an alternative to foreclosure, both the short sale and foreclosure has an adverse affect on credit rating. There are ways to increase your credit score after the short sale. Its not guareented to increase your credit score immediately but it will help in the long run. Please see below for few steps to increase your credit to purchase a home after the short sle

1. Order a copy of your credit report. More than 80% of credit reports have mistakes, so order copies of your credit report from all three major credit bureaus – Experian, TransUnion, and Equifax. Review your credit report to make sure there are erroneous reportings. If there any errors contact the credit bureaus and dispute them.
2. Continue to pay on your existing accounts. To increase you credit score, you have to make on-time payments with your current open accounts. Continue to pay them, because the length of an open account will help increase your credit. Make sure you have different types of revolving credit account such as: a gas card, a store credit line, secured credit card etc. Remember try to pay the cards off each month or keep the balance very low
3. Open a secured line of credit . If you cannot get approved for a unsecured card, you can probably qualify for a secured credit card. A secured card allows you to make a deposit, that deposit is used. Normally you can open a secured card thru your local bank; once the deposit is made and you begin to use the card, it will report to the credit bureaus. For more information contact your local bank

Please feel free to call or email with any questions or concerns

Ainsley Daux
Florida Realty
(813)546-1954


Florida Realty
902 w Lumsden rd
Florida Realty
(813)546-1954

Tampa Bay Short Sales.
Tampa Homes for Sale

New Short Sale Listing in Brandon, FL.

New Short Sale listing located in Brandon.
This Brandon short sale is located in a convienant location near resturants, shopping centers and entertainment.
Some repairs needed, but some hard work and elbow grease can turn this home into a gem.
Please call or email me for more information regarding this home into a Gem.
Thank you,

Ainsley Daux
Florida Realty
(813)546-1954

902 w. Lumsden rd

Brandon, FL. 33511

Just Sold another Short Sale (Brandon Short Sale)

Just sold this 3 bedrooms, 2 bathroom, single family home.
I listed this home and litigated the short sale.
Please call or email with any questions or concerns regarding Tampa Bay and Brandon Short Sales.
Thank you,

Ainsley Daux
Florida Realty
(813) 546-1954

Brandon Short Sale
Tampa Bay Short Sale

Pinellas Park Short Sales

New HUD HOME, Turn this HUD home into a GEM

This home hit the market today, its a 3 bedroom, 2 bathroom, over 1600 sq ft home located in north west Tampa. Work is needed
Please call or email too see this home today.
Thank you,

Ainsley Daux
Florida Realty
(813)546-1954

listing courtesy of: COLDWELL BANKER FIGREY&SONRES
Equal Housing Opportunity HUD properties are offered for sale to qualified purchasers without regard to the prospective purchaser's race, color, religion, sex, disability, familial status, or national origin. "HUD reserves the right to reject any and all offers or to withdraw a property prior to bid opening. Accuracy of information contained in this advertisement is not guaranteed. Properties may contain zoning and code violations as well as defects which could affect the purchaser's health or safety. It is the purchaser's responsibility to satisfy himself as to accurate information and property condition, including any possible zoning and code violations.