Nestor & Katerina Gasset Realtors® Wellington Florida Luxury Homes

The market fell for more than just residential homeowners here in Palm Beach County Florida however the statistics show that the average to lower end residential properties dropped more in value than the higher end properties and the local businesses.

Property tax appraisers have determined new values for Palm Beach County Florida properties. Our new tax bills are reflecting the dips.

• Residential properties valued under $200,000 dropped by 27.4% last year.

• Residential homes valued from $500,000 to $1 Million only dropped by 15%- of course that is relative because the drop may be more significant.

• Residential homes valued over $1 Million dropped only by about 7% and some high end neighborhoods actually went up in value, not down.

We are now seeing the commercial bubble bursting taking its' toll on commercial values and the tax revenue they bring in.

Even though commercial properties did not drop like the residential properties did, they still decreased in value.

• Tourist attractions are doing quite well in spite of the economy woes. Tourist attractions only dropped by about 4% in value.

• Golf courses turned out to be the best business to own with the lowest drop in value at less than .02% and many golf courses actually increased in value. Homes in Golf course communities are still in high demand for baby boomers who want to retire here in Florida.

• Cemeteries dropped slightly by about 5%; we all have to go somewhere when we die and people still have to die so the cemeteries still have a built in clientele. There were several cemeteries that went up in value by over 50%.
  

• Night clubs dropped the most at 7.4% ; so I guess we could venture to say that people may be going out less to nightclubs and staying home with their spouses or significant others more. That would be a good thing. Rachel's adult entertainment, the most popular adult club in Palm Beach county has a previous market value of $3,357,972 and that has dropped now to $3,076,795. Their proposed property tax bill this year is $88,489.

Overall, those drops are not as significant as many feared. Palm Beach County remains a great place to own a home and own a business.

To view Florida Short Sales- Click here. We know Palm Beach County Short Sales and Port St Lucie Florida Short Sales and will help you get your home Sold if you need to Sell your home and help you buy your home in Palm Beach County Florida : Call us today.

By TwitterButton

Who Fell The Most In Palm Beach County? Residential or Business Properties? -was first published on South- Florida-Luxury-Living.com.

Copyright © 2009 By Katerina Gasset, All Rights Reserved.*Who Fell The Most In Palm Beach County? Residential or Business Properties? *

Wellington Florida Equestrian season is coming up soon- in fact, it is just around the corner.

We have 4 beautiful Equestrian 1 acre lots for sale in Southfields section of the Polo Club area of Wellington Florida right across the way- hacking distance to the Winter Equestrian Festival action and the Palm Beach County Equestrian center.

The four vacant Equestrian lots are conveniently located for all your Equestrian events and shopping. 2 of the lots are located right on Santa Barbara and 2 of the lots are in the Southfields Aiken Court area.

One of the lots is right next to an Equestrian mansion that is being built right now. If you are interested in buying this estate that is up for sale you can also buy this lot right next door in order to expand and add more paddocks, barns and stables.

Two of the lots on Aiken Court can be purchased together so that you would have a 2 acre parcel to build and be able to have your horses on the property also.

These lots are also close to the finest Equestrian vets, hospitals and training facilities.

The lots on Aiken are listed at $694,777 and $794,777.

The lots on Santa Barbara are listed at $794,777 and $489,777.

Make sure to stop by and view these lots or call us at 561-753-0135 and we can send you additional photos of the area and the lots plus all the properties adjacent to the lots so that you can see for yourself that this is a wonderful place to build your dream Equestrian estate.

We know some excellent custom home and barn builders and architects who can draw up your plans for you.

Enjoy the video of the Santa Barbara area and lot views.

To view Florida Short Sales- Click here. We know Palm Beach County Short Sales and Port St Lucie Florida Short Sales and will help you get your home Sold if you need to Sell your home and help you buy your home in Palm Beach County Florida : Call us today.

By TwitterButton

Wellington Florida Equestrian Season Is Coming-4 Equestrian 1 Acre Lots For Sale!-was first published on South- Florida-Luxury-Living.com.

Copyright © 2009 By Katerina Gasset, All Rights Reserved.*Wellington Florida Equestrian Season Is Coming- 4 Equestrian 1 Acre Lots For Sale! *

There were a lot of questions and comments on the featured post- Is Your Loan Modification Or Short Sale Being Turned Down? - that I wrote last week. That post was reblogged 36 times and it keeps on going. Important information needs to be spread- education is key. The more that we get important information out to agents and consumers, the more empowered we will all be during these next few years of doing short sales.

When the lender who is the servicer; also known as the asset management company blames the investor you can take it to the next level, call their bluff- so to speak.

Let me give you a case in point. This one is one that happens often. Please bear in mind this won't work with every servicer. I preface this post that this has to do with Florida state which is a deficiency and judicial state.

• The loan was originated with Indymac. There is only one loan on this property.
  

• Indymac is no longer a viable lender.

• One West Bank is handling Indymac files.

• One West Bank is called the Asset Management Company or Servicer. Either terminology is commonly used.
  

• FDIC owns the note on this file. FDIC is called the investor. Of course, there are shareholders.

• Our Seller is an attorney.

• The negotiator from One West Bank processes the file quickly.

• The buyers- Husband is an agent and wife is an appraiser. Purchase price accepted by One West Bank= $480,000 and no reduction in commission.

• The negotiator is excited that she has her approval in for the property and quickly emails us the demand letter.

We always forward our demand letters on to our sellers and allow the sellers to decide what their next step will be, consult with their attorney, etc.

We have a clause in our short sale addendum that our attorney drafted for us to protect our seller in the even they can not perform by the terms demanded by their lender. It is our sellers' walk clause.

Our seller informs us that he will not close without the deficiency removed. One West Bank has left their pursuing deficiency in the demand letter according to Florida State Law. In Florida, a deficiency may be pursued up to 5 years from the date of the closing.

Nestor contacts the negotiator to let her know not to get so excited so fast. The terms are not agreeable to our seller. One West Bank ( Indymac) must remove the deficiency clause and allow our sellers to be free and clear of any future judgments or deficiencies.

The negotiator says, "We can not do that because it is a Florida state law that mandates that we have the deficiency in the demand letter." Excuse me? The Florida law has nothing to do with whether you remove the deficiency or not. You are using the Florida law as your scape goat so that you don't have to remove the deficiency paragraph. We are not that stupid. You can negotiate even when the law says you can pursue the deficiency. The law does not state that you as the creditor HAVE to pursue it.

Nestor tells her that she must get this waived. She says it will take her about a week to see if her supervisors will allow her to remove this paragraph. The answer she brings back is that the investor will not allow One West Bank to remove the deficiency!

Now, if you read my post about, Is Your Loan Modification or Short Sale Being Turned Down? you know that the sevicer; One West Bank is blaming the investor who is the note owner for not releasing the deficiency.

Why would they be blaming the investor? Because of the PSA agreement being so vague in dealing with protecting the investor's best interests. If the investor wants to seek a deficiency later on and finds out that the servicer released it- they could sue the servicer for the loss on his investment. It has nothing to do with the investor themselves, it has to do with the servicer's fear of the unknown and the PSA being so unclear in this regard.

So what to do?

You go direct to the investor. We knew this to be FDIC. So Nestor starts his research into who all the players are in the FDIC, procures all of their email addresses and phone numbers. Then he proceeds on to start calling and emailing. Nestor has the patience of Job when it comes to this sort of research and calling. Not me, that is why we make a good team.

He gets clear to the top of FDIC and speaks to a decision maker there. At the same time he is also still insisting with the negotiator that she must release the deficiency clause and she is sticking to her guns, she is not budging and says her hands are tied by her managers.

FDIC is shocked that we can not get this deficiency removed based on the hardship of our clients, the sellers and the great offer price on the property. FDIC states this is NOT their policy and they have NOT insisted upon this. Nestor gives them the file, the case, the names, etc.

As Nestor is working through the maze and connecting the dots within 2 weeks we get an email from the negotiator that suddenly One West Bank's policy has changed and that she now has the authority to remove the deficiency clause from the demand letter.

This proves the point that this was a policy based in fear of the servicers and not the policy of the investor.

We closed on the property 2 weeks later and our seller has no deficiency and is free and clear of any future consequences to his short sale decision. Needless to say, the seller being an attorney was amazed at our tenacity and the way that Nestor did not let go and give up. Never give up.

To view Florida Short Sales- Click here. We know Palm Beach County Short Sales and Port St Lucie Florida Short Sales and will help you get your home Sold if you need to Sell your home and help you buy your home in Palm Beach County Florida : Call us today.

By TwitterButton

Short Sale Strategies- When The Lender Blames The Investor- Case In Point-was first published on South- Florida-Luxury-Living.com.

Copyright © 2009 By Katerina Gasset, All Rights Reserved.*Short Sale Strategies- When The Lender Blames The Investor- Case In Point*

Wellington Florida Flood Information- Are You Protected?

Most homes in Wellington Florida are not in required flood insurance coverage areas. Most of Wellington is in a 100 year plus flood plane. This means that lenders do not require you to have flood insurance in order for you to get your loan approved. But your lender NOT requiring you to carry flood insurance does not mean that you should be going on without flood insurance.

Your hazard insurance does not cover flooding even if the flood is caused by a hurricane. This is the primary reason for flooding in Wellington Florida. Many homeowners think that if a hurricane causes a flood in their home their insurance will cover the claim. This is a false belief. These hurricanes, tropical storms and afternoon thunderstorms usually occur between June and November. This results in high uninsured losses.

Flood insurance in Wellington Florida is really inexpensive. For most homeowners it is under $400 per year to get flood insurance for your home. The building division of Wellington gets low rates through the National Flood Insurance Community.

Contact your insurance agent to get your flood insurance started. There is a 30 day waiting period. So don't wait until it is too late. You can get your flood insurance when a storm is coming because of this waiting period. Your insurance agent will answer your questions regarding your policy.

Every year flooding causes more property damage than any other type of natural disaster in the entire United States.

You can learn more about taking flood precautions at Wellington's website at http://www.ci.wellington.fl.us.

Wetland areas and buffers next to streams help reduce flooding because the floodwaters spread out over these areas and reduces the volume of the water going to property. We must be responsible citizens and protect our natural areas and wetlands to help reduce serious flooding.

FLOOD SAFETY MEASURES

• Protect yourself from flood hazards and ensure the safety and your life and property before, during and after a flood.
  
• Drowning is the number one cause of death during flooding. Currents that flow can make you lose your balance even if in water that is only 6 inches deep. Do not underestimate the power of water. Do not walk in flowing water. Use a stick or broom handle to check the depth in standing water before you move through it.
  
• Do NOT drive in flooded areas. Remember that bridges may be washed away. Do not assume that everything is still the same. People drown in their cars more than anywhere else.
  
• Stay away from power lines and all electrical wires. The second leading cause of death after drowning is getting electrocuted.
  
• Report Down Wires to Florida Power and Light or to the Sheriff's Department right away.
  
• Elevate Furniture above flood levels.
  
• Seal sewer lines to prevent the backwash from coming into your home.
  
• Sand bag your area to reduce damage.
  
• Maintain your drains around your streets. Do not wait for the town to come by and do it. Remove grass clippings and leaves from areas that need to flow so you don't create a flood. Keep all debris out of storm water drainage systems.
  

If you are planning to do any restructuring of your property you will need to make sure you are complying with all the new flood prevention codes. See your town's Permitting department to make sure you are abiding by all the new rules.

In the case of flooding emergencies in Wellington Florida you can tune to Radio 1680 A.M.

TV Channel 18

www.Fema.gov

www.Ci.Wellington.Fl.us

Here are a list of other emergency numbers you can print out and hang up on your refrigerator:

Florida Power and Light 561-697-8000

Palm Beach County Emergency Management 561-712-6400

Canal dumping and obstructions 561-791-4003 For Wellington Residents

Public Works 561-791-4003 For Wellington Residents

American Red Cross 561-833-7711 For Palm Beach County

Animal Care and Control 561-233-1200 For Palm Beach County

If you suspect illegal floodplain development call 561-753-2430 For Wellington Residents

To view Florida Short Sales- Click here. We know Palm Beach County Short Sales and Port St Lucie Florida Short Sales and will help you get your home Sold if you need to Sell your home and help you buy your home in Palm Beach County Florida : Call us today.

By TwitterButton

Wellington Florida Flood Information- Are You Prepared?-was first published on South- Florida-Luxury-Living.com.

Copyright © 2009 By Katerina Gasset, All Rights Reserved.*Wellington Florida Flood Information- Are You Prepared?*

We wish all of our Jewish friends, neighbors and clients a very wonderful High Holy Holidays beginning with Rosh Hashanah and ending with the day of atonement, Yom Kippur.

This year the Rosh Hashanah begins at sundown on Friday September 18 and end on Sunday night September 20th. Yom Kipper begins at sundown on September 27th.

Rosh Hashanah and Yom Kippur are the most important Jewish religious holidays. Since Christianity grew out of Judaism, I feel it is important to learn, study and honor Jewish heritage and holidays. Palm Beach County has one of the largest Jewish populations in the entire world and thus we have learned a lot from our Jewish friends, neighbors and clients.

Rosh Hashanah and Yom Kippur are the only holidays that are purely religious and not related to a historical event.

Rosh Hashanah is the Jewish New Year. It is a time to get together as families enjoying wonderful meals and sweet foods. It is a day of celebration and yet it is a solemn day as this is the day the whole world is judged for the coming year. It is the day of the birthday of the world. This is the day that G-d created man, the sixth day of creation. This is the day that is set aside to honor G-d as the true King. Here is an excerpt to explain more that I got from the Torah.org:

"In the Torah, the account of the creation of the first human beings states that Man was created, "in the image of God." Jewish tradition understands "the image of God" to mean that human beings possess free will. Our actions are not predetermined by any Divine, psychological or sociological forces; rather, we are free to choose and are thus responsible for the consequences of our actions. As will be explained later, on Rosh Hashanah we celebrate our humanity by exercising our free will."

Yom Kippur is the day of atonement - it is the most serious and the most important of all the Jewish Holidays. It is a day of fasting and prayer. It is a day to reflect your past year, a day to promise to do better this coming year. It is the day to atone for your sins through repentance and making amends. But this atonement is only between man and G-d since sins against other people must be reconciled with those persons. Yom Kippur is a complete Sabbath which means you don't work on this day. You don't labor, you don't earn money, you don't go out and party. You are supposed to fast for 25 hours, no eating or drinking. It is a custom to wear white on this day as that stands for purity. Read Leviticus 23:26.

Why not try out some of the special recipes and pictures for your children to color at this site about holidays, http://www.holidays.net/highholydays/