Ronda Densford, REALTOR Jacksonville and Northeast Florida

I think we've had enough bad weather to last us a long time! We are sick of these storms! I think Mother Nature is going to send us a few more friends to meet in the coming days. I think that Hannah, Ike and Josephine all are unwelcome guests for Florida residents! Not to be rude, but they are not welcome here.

We are bracing for whatever Mother Nature brings us. I have tried to schedule Open Houses for the past 2 weekends with no luck. When the wind is howling at 40+ mph, it's hard to imagine any "lookers" out and about. I had one scheduled for Saturday, but will move it to Sunday, weather permitting of course!

Hard to believe we're only half-way into the hurricane season. Enough!

Keep a close eye on the weather if you live in Florida. Looks like we have a rough 5-10 days to go.

Fay

The Beaches area continues to feel the wrath of Tropical Storm Fay.  It's not like she's in a big hurry to get out of here or anything.  Quite the contrary!  Like a guest that's over stayed their welcome, it's past time for Fay to go.  She has been lurking off of the coast of Northeast Florida for two days.  When she finally headed West today, she brought buckets of rain with her.  Along with the buckets of rain, she brought 40 mph winds with gusts up to 55 mph.  It's been a rough afternoon here at the Beach.  The damage so far is minimal.  There have been numerous reports of flooded streets and a few trees down, but all in all, we've been lucky.  We've been spared any real serious damage.  Property damage is very low considering how bad it could have been... I wish the story ended here. 

Jacksonville Beach rarely has to worry about tropical systems.  When we do, we take it pretty serious.  Unfortunately, one person lost their life in Neptune Beach today. Three swimmers from Indiana decided to go swimming in the ocean when the waves were at their worst.  One died and one is in critical condition after being rescued by Fire and Rescue.  It's so sad.  Anyone that took one look at the 13+ foot waves and felt the power of the wind would know not to venture in.  I feel so bad for the families of the person that died and for the others involved.  It's a sad side bar to what should have been a story about the fury of Mother Nature and how well prepared we were.

We live in Paradise for the most part. Great Beaches, friendly people, great restaurants, fun festivals, great shopping and of course, beautiful beaches. Every once in a while we're reminded of the power of these tropical systems. 

Please don't take any chances when one of these systems comes through our area.

Is that really a short sale??? There seems to be a LOT of homes advertised as a short sale these days in the Jacksonville area. I want to learn as much as I can as fast as I can, so I found a really good source for information.

I was fortunate enough to be able to attend a seminar at NEFAR yesterday about selling Short Sale homes. The class was taught by Maximum Success, Inc.. I was enlightened and a little surprised at the guidelines given. It made me wonder if all of the homes listed in MLS truly meet the guidelines presented at the class.

Qualifications for a Short Sale (All required)

The Seller Has No Assets

The seller can't have ANY ASSETS!! No savings accounts, no other property, no stocks, no bonds. The short sales that get accepted are those where the seller has no money or assets.


The Mortgage must be in Default (In Arrears)

A lender will not consider a short sale if the payments are current. As long as the lender is receiving payments, the lender is satisfied. Update: There are exceptions to this rule. With so many short sales to process, and with every situation being so different; lenders are even granting short sale status to loans where the seller isn't in arrears.

The Home's Value Has Dropped (Upside Down)

A CMA must prove that the home is worth less than the unpaid balance due the lender, based on recent data on sold homes in the area. A BPO may be required, sometimes even an appraisal.


The Seller Has a Hardship

The seller must submit a letter of hardship that explains why the seller can't pay the monthly payments.

Examples of a hardship:

Bankruptcy
Job Loss
Divorce
Medical issues or illness


I can't give you legal advice. I strongly recommend that you speak to an attorney if you're considering selling your home as a short sale. If you can't afford an attorney, I have contact info for agencies that will advise you for free or reduced prices.

In the initial stages, a competent Realtor will be able to help you start the process after you consult with an attorney, if needed. This is a slow process, often taking 90-120 days from start to finish. Patience is required by the Realtor, the seller and the buyer!!

One very interesting fact I found out: a short sale on your credit report will cost you 50 points. A foreclosure on your credit report will cost you 300 points!!! Wow! It's worth the work to make a short sale happen if these are accurate numbers. If you're a REALTOR, next time you show a short sale, ask the listing agent if all of these requirements have been met. Get confirmation from the lender if your client is considering making an offer.

Call today if you need my help.

If the number of showings on my listing on Ashglen Drive are any indication, the market is picking up again! I don't know if it's a hic-cup or if this is a trend. I talked to several agents today and they seemed to agree that there is more action "on the streets" right now. I'm excited! We have lots of listings out there that need to be sold. Anxious, motivated sellers will have to compromise on price, but, if an offer comes along, they better grab the money and run with it! :)

I am having an Open House at my Ashglen Drive listing on Sunday Feb 24th from 1-3. I would love to see you there. This house is move-in ready. Come see for yourself!

If I can help with your house hunting, just let me know-I'll be happy to help.