Sharon Fleming, Realtor® Port St Lucie~Florida

Is your buyer one of the MANY looking for that "Perfect Home" in the Sea of Foreclosures?

There is no doubt that just about more than half of the properties shown are in some sort of Foreclosure process, making the process a more difficult one to understand for your buyer. As a Realtor we have to inform our buyers exactly what the Foreclosure process entails, we NEED to educate them (& ourselves), to let them know that there are different stages of the foreclosure process, and that there are advantages and disadvantages during each step of the process. It may be very difficult for some buyers to deal with distressed home buyers, in that instance buying a Bank-Owned property may be for them. It is up to us to help the buyer decide. We need to make sure that the buyer is aware that there may be Property Liens on the property for one reason or the other. There are so many aspects of a foreclosure that tend to get overlooked and just forgot about. This is where we step up to the plate and EDUCATE!

FIRST and FOREMOST is finding FINANCING and actually helping them to understand the financing if needed. Most of the foreclosed homes will need additional repairs so that has to be taken into consideration as well....I post this blog due to the overwhelming market we are in today, buyer need to understand that there is more to buying a foreclosed property other than getting a "sweet deal". WE as REALTORS have to take the role on of educating our buyers. That is my main priority, if we are honest in our dealings we can help to clean up this mess.

I wish all you luck in this market, buyers, sellers, and Realtors alike!!

I myself am trying to figure out the most important question of all>????

Will this REALLY help the homeowner out, or delay the inevitable?

The state of FL has issued a 45-day halt on foreclosures, that is if the foreclosure process has NOT already been started, I am also hearing that now a coalition of advocacy groups are wanting a 6-month halt on all foreclosures. I feel that the 45-day moratorium is definitely not enough time. It is in fact just delaying a major crisis for these families.

Granted it is coming at a time when people need some sort of reassurance from the government, but is a 45-day grace period really enough time for people to work with their banks, get back on their feet and actually try and stay in their home, I honestly don't think that it is, I actually wonder if the 6-month moratorium would even be enough time. After all what is going to happen when the 45-day or the 6-month grace period is lifted, the banks are going to be bombarded with these properties on their books. Do they really want that?

And who is to blame?

It is not a blame game, but someone has to be held responsible, it is a collaboration of individuals to blame, the homeowner who knew they couldn't afford the home, the lender's "alleged use of deceptive practices", combined is a recipe for disaster. A disaster that is going to be with us for a very LONG time.

Do you think that placing a halt on the foreclosure process will be a good idea, a bailout so to speak, or do think it will just delay the inevitable? I am curious to know your thoughts.....

Sharon Fleming

For your information. Check this over before you buy gift cards for Christmas. Local Stores Closing This is an unbelievable list. If you have any "gift cards" from these stores, make sure you use them, or you will lose them! Watch those store money cards and gift cards.. and credit slips! Stores that informed the Security Exchange of closing plans between October 2008 and January 2009. PLEASE PASS THIS ON TO ALL YOUR FAMILY AND FRIENDS.

• Circuit City stores... most recent (? how many)

• Ann Taylor- 117 stores nationwide are to be shuttered

• Lane Bryant,, Fashion Bug ,and Catherine's to close 150 store nationwide

• Eddie Bauer to close stores 27 stores and more after January

• Cache will close all stores

• Talbots closing down all stores

• J. Jill closing all stores

• GAP closing 85 stores

• Footlocker closing 140 stores more to close after January

• Wickes Furniture closing down

• Levitz closing down remaining stores

• Bombay closing remaining stores

• Zales closing down 82 stores and 105 after January.

• Whitehall closing all stores

• Piercing Pagoda closing all stores

• Disney closing 98 stores and will close more after January.

• Home Depot closing 15 stores 1 in NJ (New Brunswick)

• Macys to close 9 stores after January

• Linens and Things closing all stores

• Movie Galley Closing all stores

• Pacific Sunware closing stores

• Pep Boys Closing 33 stores

• Sprint/ Nextel closing 133 stores

• JC Penney closing a number of stores after January

• Ethan Allen closing down 12 stores.

• Wilson Leather closing down all stores

• Sharper Image closing down all stores

• K B Toys closing 356 stores

• Loews to close down some stores

• Dillard's to close some stores.

A VERY impressive list to say the least, this is a sign of just how bad our economy really is. We will get through it though, and get some pretty sweet deals along the way :) We have to think positive...RIGHT?!?! Have a great day!

Sharon Fleming

While watching CNN **my life line :) I heard something that I have to 100% disagree with. I REALLY would like to get your opinion on this one!

CNN Analysist state that Home Builders should stop all building until the Foreclosures/Short Sales/Vacant homes are absorbed by the current market. Stating that if they keep building it is a hinder to boosting the economy and clearing up the Real Estate Market that is such a burden on our economy.

Well I have to disagree, my take on it is this:

Home Builders are essentially helping to move the economy along, what do they give: A LOT! They produce jobs, Home Inspectors, Electricians, Plumbers, Landscapers, and sooo many more. Not to mention that most of the builders already have the land to build on and just sitting there with empty lots isnt doing any good for them either, they have to feed their families as well.

I feel that if it all stops there are so many people without jobs already, what would this to, it would halt the buyers all together. Maybe they can produce smaller floor plans, negotiate prices, afterall a little piece of the pie is better than no pie...right? Builders just need to get creative, offer some incentives, sweeten the deals a little. I just think that if they stop building all together it would be a shift in the wrong direction. Our economy is already at an all time high of unemployment and doing this would only make things worse...In my opinion that is....What do you think?

Sharon Fleming

I posted a blog a couple of weeks ago stating that some Homeowners are purposely defaulting on their loans to get a piece of the "Bailout Pie". Well listening to CNN last night, they stated that fact: Homeowners ARE defaulting on their loans to try and get some sort of break. As stated on CNN the criteria to even be considered for any type of assistance is getting more difficult. My thought is this: Why not hold the homeowners responsible, dig a little deeper to see if they lied in the first place to get the loan, I heard that the loans are being dubbed the N.I.N.J.A. loans, No Income No Job Applicants. Bailing out the sub-prime borrowers may seem like it is the right thing to do, but is it really? Do they need to be awarded a lower interest rate, a lower payment, a price reduction on their homes, paid for by you and I by the way, or should they be held responsible as well, now I am NOT cold hearted and think that NO ONE deserves this, I KNOW there are those that were victims of predatory lenders, and they may have genuinely fell on hard times, lost a job, divorce, etc. I do feel there are those that do need the help. But we are not only bailing out the homeowner we are bailing out the lender as well. I am not deluded into believing that most of these borrowers knew exactly what they were getting themselves into, and now we have to clean up the mess. IF it can be cleaned up at all!

For those of you like me, a financially responsible citizen, the moral issues that lie within are paramount in this economy, we have to hold ourselves to a higher standard and not follow suit like the rest, we keep making our payments and we keep working for the mighty dollar so that in the end, we can have pride in knowing we helped "Bailout" our fellow Americans. I think we can take pride in that!

God Bless....

Sharon Fleming