“World's Most Complete Neighborpedia”
Sponsor a Community — What is Localism? | Register or Sign In
Explore:   What's happening in your neck of the woods?
Home Jeff Payne, Panama City Real Estate

Jeff Payne, Panama City Real Estate

Blog_tag

What is your Panama City Florida home worth?

10-16-09
Jeff Payne, Panama City Real Estate

Interested in knowing what your Panama City, Panama City Beach, Lynn Haven or Callaway Florida home is worth?

www.PanamaCityHomeValues.com

Upside down and need a way out? Struggling to make ends meet and can't pay your mortgage? You are not alone.

www.ShortSalesinPanamaCity.com

Thinking of buying or selling check out the only website that has everything that you need to make an informed decision www.KnowPayneKnowGain.com

4 Comments
Blog_tag

Bank of America Short Sales and REO Trans, Help for Panama City FL homeowners

10-05-09
Jeff Payne, Panama City Real Estate

I just talked with a good contact of mine in the short sale department at Bank Of America and she confirmed that BofA is now going to use REO Trans for the short sale files. We will be able to upload the files and the seller will also be able to upload their files to the system. In addition, there will be tasks assigned along the way. Hopefully this will make for a much smoother system with less lost files and quicker approval times. I would assume that their will be a learning curve on both sides but this in my opinion is a step in the right direction.

For all of your short sale needs in Panama City and Panama City Beach, please don't hesitate to call us at 850-392-1770 or email me at jeff.payne@kw.com and of course visit our short sale website at www.shortsalesinpanamacity.com

To view ALL PANAMA CITY LISTINGS ALL THE TIME go to www.knowpayneknowgain.com

4 Comments
Blog_tag

Marketing Position for Panama City Florida's top real estate team

09-30-09
Jeff Payne, Panama City Real Estate

3 Comments
Blog_tag

MSN Headline today, 10 things your real-estate broker won't tell you

09-28-09
Jeff Payne, Panama City Real Estate

Anyone else see the MSN.COM headline today, 10 Things your real estate broker won't tell you ?

1. "Your open house is really just a networking party for me."

My response: I tell sellers that most likely I will get more listings than buyers from an open house, that is how I feel and tell them up front

2. "My fees are negotiable."

My response: It depends if you want to negotiate your fees, this could or could not be true, it depends on the agent and their brokers policy. For me, I would not let a deal die if we are close over my fees

3. "Think you've had no offers? Actually, there have been several."

My response: I present any and all offers that I recieve, any agent not doing this is seriously taking a chance

4. "I'm not obligated to keep my mouth shut for you."

My response: This varies due to the state and the brokerage relationship. In Florida it is presumed that I am a transaction broker and that I am bound to limited confidentiality and that I must disclose any known facts that negatively affect the value of the property and are not readilty observable to the buyer. I can not disclose the sellers motivation or what they will settle for unless the seller gives me written permission.

5. "Sometimes I forget whose side I'm on."

My response: BAD AGENT, I always know whose side I am on.

6. "I know zilch about zoning."

My response: TRUE, always seek the advice of the expert, the zoning department

7. "I won't let termites - or pesky inspectors - kill a deal."

My response: I will do my best to work out the termite or inspector issue to the best of my ability and within the contract

8. "I sometimes forget I'm not a lawyer."

My response: I never forget that I am NOT a lawyer

9. "My Web site is a dead end."

My response: My website is a spider web catching buyers and I have the statistics to back it up

10. "You can probably do this without me."

My response: You probably can but I do this everyday and most buyers and sellers only do this a few times in their lives. You know what they say about representing yourself and something about having a fool for client. Fact of the matter is that the avg FSBO does not have the knowledge to do it on their own in a buyers market and need the help of a realtor

7 Comments
Blog_tag

Taylor Bean Whitaker suspended from making loans.

08-07-09
Jeff Payne, Panama City Real Estate

Copyright © 2009 Tampa Tribune, Fla., Shannon Behnken. Distributed by McClatchy-Tribune Information Services. Information from Bloomberg News was used in this report.

Just got this from The Florida Association of Realtors... If you have any pending deals with TBW, please read on.

Probe freezes major lender

TAMPA, Fla. - Aug. 7, 2009 - Ocala-based Taylor, Bean & Whitaker Mortgage Corp. (TBW) said Wednesday it is stopping its mortgage-lending operations after federal agencies suspended it from making loans, according to a statement sent to mortgage brokers, regulators and a bank trade group.

Wednesday's shutdown is another major blow to Florida's struggling real estate market. Taylor, Bean & Whitaker is one of the largest providers of FHA (Federal Housing Administration) loans in the Sunshine State, and loans in its pipeline won't close, said Valaire Saunders, president of the Tallahassee-based Florida Association of Mortgage Brokers.

"It's definitely going to be detrimental to our state's economic recovery," she said. "This will delay Florida's housing recovery, and we can't afford that."

The firm, ranked among the largest U.S. home lenders, was barred this week from selling or servicing loans by the Department of Housing and Urban Development, Freddie Mac and Ginnie Mae, the statement says.

"TBW must cease all origination operations effective immediately," the statement says. "Regrettably, TBW will not be able to close or fund any mortgage loans currently pending in its pipeline."

The closing came after an announcement Tuesday by the Federal Housing Administration that it found possible fraud and had decided to suspend business with the lender. Calls to Taylor, Bean & Whitaker were not returned.

Taylor, Bean & Whitaker was a major lender of FHA loans, typically used by first-time buyers, and one of the few lenders who funded FHA loans on manufactured housing, Saunders said.

"I have three colleagues with loans set to close this month, and they're scrambling," she said.

Taylor, Bean & Whitaker was FHA's third-largest lender. It ranked 12th among U.S. mortgage originators in the first half of this year.

The lender didn't submit a required annual financial report and "misrepresented that there were no unresolved issues with its independent auditor," the FHA says in a statement. The auditor discovered "irregular transactions that raised concerns of fraud," the FHA says.

An October 2006 investigative report by the Tampa Tribune found that at least four of 36 suspicious loans involving a Tampa real estate agent and mortgage broker had been funded by the lender.

The story found that the homes sold, on average, for $60,000 above the asking price. At least $2 million collectively was paid to third parties, and in some cases, two sets of documents were used to secure the loan.

At the time, Lee Farkas, chairman of Taylor, Bean & Whitaker, said his institution did not realize the property had sold for more than originally listed. "There's no way we would do a loan structured like that," he said. Farkas said his company had policies against such loans and said he would investigate the deals.

Jane Floyd, a Tampa mortgage broker with Diversified Home Mortgage, said the closure will negatively affect the area's pending home sales.

"I've worked with them for years and had a good relationship with the people there," Floyd said. "This is very sad."

Copyright © 2009 Tampa Tribune, Fla., Shannon Behnken. Distributed by McClatchy-Tribune Information Services. Information from Bloomberg News was used in this report.

1 Comment