Larry Fleckinger

Sales were down on Single Family homes in Brevard County Florida in July to only 553 homes sold. Of the sold home half of them were distressed sale properties. To date we have 4456 single family homes on the market and around 27% of them are distressed homes. Median Price on homes fell from May to June at an alarming rate of 4%. We averaged around 2.5% per month decline from June 2008-June2009.

When will all this end...nobody knows...beware the rumors we are at the real estate market bottom. In Brevard we are at least a few years out from the bottom unless by some miracle the government does something to keep people from loosing their homes.

GOOD NEWS!

Sellers your home is worth more today that it will be worth in years to come, now is the time to sell your home if YOU NEED TO SELL...not a time to test the market. To see what we are doing to sell homes visit Listing With Larry

Buyers, there are some GREAT buys in this market. You just need an experienced hard working buyers agent to represent you. My wife Karen is that agent, she knows this market and how to help you make a great buy in this market, while protecting you through out the process...give her a call today! 321-693-4322 Be sure to set up your automated email search at our Brevard Home Search site!

Till next time,

Larry Fleckinger
The Fleckinger Team
RE/MAX Aerospace Realty

Remember about 3-5 years ago when flipping houses was the rage? Realtors, Investors, Investor Want Be's and every Tom Dick and Harry jumped in on the band wagon...everyone was making money including Realtors, Lenders and Investors. All you did was tie up a property then sell (flip) it a few weeks or months later for a nice quick profit. For the most part everyone was loving it...the Realtors, the lenders and of course the investors.

Fast forward to NOW...we are in an upside down real estate market, lenders are doing everything they can to unload upside down properties and get them off their books...they do not want to own real estate. Now we have a new breed of "flipper"...the short sale flipper. In a nut shell they get the owner of the property to transfer the property into a Trust owned by the investor, now the investor has control. His goal now is to now beat up the seller (who in a short sale is the lender and wants to unload the property). Once he gets a price from the lender, he begins to seek out his own buyer for the property and will make a profit on the difference of what the lender sold to him for and what he sells it to a real buyer for...that is his profit...the margin.

Now the investor, may use what ever means he chooses to try to unload the property a quickly as possible. This can be done by hiring a real estate agent to list the property or by advertising via newspapers, the Internet, throw away signs etc.

Obviously the investor never plans to own the property and when it comes time to close on the property he will be doing what is called a "flip at the table"...I will not get into trying to explain this but essentially he will buy the property from the lender as a short sale (owner really has no say in the sale at this point) and (flip) sell it to his new buyer right at the closing table and he will pocket the difference.

So tell me what is your opinion of the new investor flipping strategy? It is not really new, investors have been doing this for years, it is just now getting out in the open with all the short sales.

Is it legal or not? If not, why?

Have a great day,

Larry Fleckinger

Follow Me on Twitter!

Just wanted to let everyone know that we offer FREE Loan Modification Advice and Free Foreclosure help for those who want to stop Foreclosure or even save their Brevard County home. Times are difficult and people need a professional who can help them through all the "smoke and mirrors" out there when it comes to real estate in todays market.

Just give me a shout at 321-693-0771 or shoot me an email realtorlarry@cfl.rr.com and I will be happy to assist you in any way I can.

Have a GREAT day,

Warm regards,
Larry Fleckinger
RE/MAX Aerospace Realty
321-693-0771 Cell
800-856-1169 x116
www.BrevardHomeSource.com
http://www.FreeLoanModAdvice.com
http://www.BrevardForeclosurehelp.com

Hello All,

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I have used it to capture images of all the sites my listing are posted on and let a potential seller see exactly where the property will be on the web. I then used this FREE program to make a page to post online on my site and put it in my Laptop presentation...here it is: http://www.ornj.net/webalbum/

Hope you enjoy!

Larry Fleckinger
RE/MAX Aerospace Realty
www.BrevardHomeSource.com
www.BrevardRealEstateBlog.com
www.ShortSaleHelpBrevard.com

Well, I am sure this is probably a worn out topic and it is still rearing it's ugly head higher and higher here in Brevard County Florida. As we all know the new buzz words in real estate are Short Sales and REO's.

Short sales pose a special problem in our area due to the fact that we (the realtor) are allowed to put any price we desire in the MLS to generate an offer for the lender, with no restrictions on how we price it. Of course the seller has to approve the price. The problem is that the seller does not have control over what price will be accepted in a short sale and it is entirely up to the lender as to what they agree to let the home sell for. Unfortunately the lenders are not dong their due diligence and giving us the selling price they will agree to, based on a REAL appraisal from a local appraiser. This is leading to literally hundreds of homes being entered in the MLS with prices that are NOT Deliverable. So when potential buyers want to see these homes we are forced to explain to them the lender may counter back higher than the asking price and may even reject a full price offer.(bait and switch?) In my humble opinion we are misleading and deceiving the public with this pricing practice and are a just short of lawsuit...I know we have disclosures and all sorts of things we use to cover up the fact we are misleading them, the fact remains the price we are asking (in most cases) is not the price the property will sell for unless of course you did get lender approval on the price. We all know the lenders want to see if they can get the highest offer on the home, don't we all.

I say it is time to stop deciving the public and only allow diliverable prices listed in the MLS.

Ok, now I will ask the question: Does anyone know a viable solution to this Short Sale dilemma? I can't wait to hear your response!

Warm regards,
Larry Fleckinger
Re/Max Aerospace Realty
Brevard County Florida
http://www.BrevardHomeSource.com