"""""""""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