Michael J. Gallo

Right now in West Pasco County Florida we have some of the Best Dealsin the Region. As I work with my Buyers I am noticing a bit of Fear and Apprehension regarding the AS/IS Listing. Don't Be Scared. AS/IS in a nutshel is the Sellers Position of Not Repairing or Changing The Property in Order to Sell it. SO what does that mean? What you see, is what you get. If it needs a roof, the buyer replaces it after Settlement (Closing) if there are NO Appliances.....do expect the Maytag Fairy to mmagically appear and deliver them. Are You Still Scared? Don't be. In FLorida the AS/IS contract has a clause for inspection. Aaahhhhh, not soo scared now. If The Home Inspection reveals any defects to the property that YOU as the Buyer are not Willing to Fix or Deal With, you may cancel the contract and your escrow deposit money will be returned. Are You Ready To Buy A Killer Deal Yet?

Hey Mike, what about the short sales? I hear they are a pain in the A*$

Im glad you asked. When buying a short sale and right now the AS/IS house is often a Short Sale, keep this in mind. The Short Sale is the Sale of a Property By The Homeowner For a Price Negotiated with Their Mortgage Lender to Sell The Property SHORT of What is Owed on It. Sounds simple enough....BUT WAIT, THERES MORE. The lenght of Time it May Take To Close (Settle) on a Short Sale can be a good one. The Bank has Final Say in Which Offer Will move to The Closing Table. BE Prepared for a long Escrow. Be Repaired to Possibly Loose the house Because the Sellers Bank Retains the Right to Accept other offers even while "in contract" with you (I find that rude Personally). A Short Sale is NOT for everyone. They are however Great For, a first time home buyer who can wait for the deal. A Person planning for future Retirement and has a few years before Retiring. Investors. Think of it....your buying Low and you will have the ability to sell high.

One last Thing! When LOOKING AT AS/IS VACANT HOMES : Wear Sneakers or Boots. Keep Hand Sanitizer or Wet Whipes in Your Pocket (I have them if you need them) Dress Comfortably as you will want to walk all over the property and check things out. Keep chilled water with you. (again, big mike has you covered there) The homes are vacant, musty, dusty, and usually have no power or Air Conditioning. Remember, You Are Bargain Hunting and you want to get the most of your Viewing.

The sky is not falling, chicken little....it's the roof. How Fun is This? I was driving my Buyers offer over to the Selling Agent to be submitted for approval and I get a call. My Buyer took a family member over to the Home she is Wanting to buy and he discovered a few minor (or major) issues concerning the roof (maybe) or just the wooden eaves ( who knows). I am no roofer but I did drive over there and called her and took note of what she was refering to.

Being the straght forward guy I am I asked 'Do you want me to not deliver the offer" (I was cringing and holding my breath) "NO" was the response. Ok no problem, lets talk about this for a minute. "Is it the price you are offrering or do you just not want to get involved with this particular house. I have no problem showing more homes to find a better one for you." "I think so" was the response. (Huh? think so what???) After a little tooth pulling I got to the root of the issue. Fear that the Sky Would Come Falling Down and the expense it will cause both Financially and Emotionally. I've been there myself. nothing better than coming home to wet drywall and insulation on the floor.

I called three Roffers, got a few ballpark numbers and called my buyer back. She told me to make the offer for "X" ammount of dollars and she hung up the phone a much happier person. I just pulled the contract off the printer and I will have it signed after dinner and delivered First Thing in the morning. I love how I can be skipping to the office one minute and the next Im standing in my Team Leaders office telling Her she needs to make me Laugh before I scream. She did, I did and I got a nice Gem of Advice and Im back on track with a happy buyer. Real Estate is One Big Roller Coaster Ride, and we're all The Better for Having Bought a Ticket.

My Biggest concern was that my Buyer would be unhappy with me, the house, or my work. Happy Buyers And Happy Sellers make ME Happy!

This week I noticed something happening in my neighborhood. Home repair projects. Homes that were once empty overgrown eye-sores have been getting some much needed TLC. Prices in my neck of the woods are incredibly lowand it would seem that new homeowners and investors are doing their part to rejuvenate the area.

Driving around I noticed more Sold signs perched on top of Sale signs which is a good indicator to me that things will continue to improve. One can actually buy a house in the Port Richey area for anywhere between $39k - $89k. These homes however are not overly large pool homes but more of a starter or retirement home. We have been working with a very nice young man who is buying his first home. This remarkable man has done his homework and is in a great financial position to buy. His Realtor(R) is a Gem and together they have found a great house with a pool that needs a little love but not too much. I say this Realtor(R) is a Gem because He answers his phone every time we call. He is smart enough to program ABC Mortgage Funding into his phone and is totally Switched ON. WOW! I Love That.

So not only am I a witness to the change I am in some small way a part of it.

The change in my neighborhood is a sign of the change to come for our state. We are currently working and living in a county where our Foreclosure / Short Sale numbers are quite high. Those of you looking for a Great Deal on a home in a Wonderful neighborhood give us a call to discuss your financing options.

Michael J. Gallo - Client Care Specialist ABC Mortgage Funding Pasco County Florida

Fun for the family. Friday 9/25/09 thru Sunday 9/27/09 Sims Park, New Port Richey Lots to do. The park is located on the bank of the cotee river where you can take a boat tour of the silent era celebrities homes. New Port Richey was the location of choice for most silent films back before Hollywood was Hollywood.

Food, Fun and Entertainment are in store for all who visit the festival. I hope to see you there!

Heres a Link to the local Article and schedule of events.

http://www.tampabay.com/features/events/greater-new-port-richeys-founders-day-fall-celebration-opens-this-weekend/1038905

9-20-2009

Infromation source- Bay News9

Between April 2008 and April 2009 Pasco countys neighboring Bay Area Counties have seen a decline in Residents. In that year Pinellas county loast 7,348 Residents while Hillsborough County lost 3,649 Residents. Pasco County, FL. gained 4,700 people that same year and continues to be the fastest growing county in the Bay Area for the past 20 years.

The growth of Pasco County is expected to increase by over 14% in the next two years. Why? The answer is quite simple. Pasco County, FL gives it's residents and consumers More BANG for thier BUCK. With lower property taxes and plenty of new construction inventory. The construction of Trinity Town Center and The Sawgrass Complex in Westley Chappel make our happy County one we Love to Live in. Newly manufactured homes with easy access to the Suncoast Parkway make Downtown Tampa a quick commute for residents.

Pasco County has plenty of Gulf Access and the cities of Port Richey and New Port Richey have River access as well as Gulf Access. New Port Richey boasts riverside and Glufside Dining while Downtown is a quaint peaceful area that includes Fine Dining, Theatre and Shopping. Pasco County is where it's at these days. We are worth looking at. I have been a resident of Pasco County for 15 years and I know of what I speak.

All figures and statistics were courtesey of an article by Bay News9.