Site blog for forclosures, Broward county properties for sale, and All south florida property listings.

Here’s a great story about baseball – and perspective:

 A little boy was overheard talking to himself as he strutted through the backyard, wearing his baseball cap and toting a ball and bat.  “I’m the greatest hitter in the world,” he announced.  Then he tossed the ball into the air, swung at it, and missed.

 “Strike one!” he yelled.  Undaunted, he picked up the ball and said again, “I’m the greatest hitter in the world!”  He tossed the ball into the air.  When it came down he swung again and missed.  “Strike two!” he cried.

 The boy then paused a moment to examine his bat and ball carefully.  He spit on his hands and rubbed them together.  He straightened his cap and said once more, “I’m the greatest hitter in the world!”  Again he tossed the ball up in the air and swung at it.  He missed.  “Strike Three!”

 “Wow!” he exclaimed.  “I’m the greatest pitcher in the world!”

 Either way – he’s right.  Isn’t perspective a wonderful thing? 

 Michael Peron
Your Real Estate Consultant For Life

 P.S.Have you had a recent experience that changed your perspective about something?  I’d like to hear about it.  Please email me at Mike@MichaelPeron.com  or call me at 754-204-0069

The second half of 2010 will be a time of stabilization or a “renewed leg down” in housing, and it all depends on how aggressively the industry can rein in the swell of foreclosures, according to a new study from the research team at Credit Suisse.

“We estimate that roughly 3.2 million foreclosures must be prevented in 2010 for home prices to stabilize or potentially tick up,” the institution’s analysts wrote in their report. The researchers called the feat an “uphill challenge,” with a very narrow path for success carved out by government programs.

The administration has promised that its federal modification program will help three to four million homeowners avoid foreclosure, but those projections cover a four-year span – from 2009 to 2012. And as it stands now, the program is way behind schedule. As of the end of November, only 31,382 at-risk homeowners had been given permanent loan restructurings.

Credit Suisse called the performance statistics of the administration’s Home Affordable Modification Program (HAMP) “quite disappointing” but noted that increased government focus on raising conversion rates could lead to an improvement in short-term results. From a longer perspective, one can argue a case of diminishing returns, meaning that borrowers who could qualify would have already done so, the bank said.

“We anticipate multiple rounds of government attempts to achieve foreclosure prevention for those who fall through trial mods by lowering the bar or directing them towards alternative foreclosure prevention programs” such as the administration’s short sale and deed-in-lieu initiatives, the researchers said.

Improving home prices and a narrowing demand/supply gap are pointing towards early signs of stabilization in the housing market, according to the report, with recovery supported by a decline in foreclosure sales, record high affordability levels, and the homebuyer tax credit.

While delinquencies continue to rise, foreclosures have slowed due to the government’s foreclosure prevention initiatives. At this point, the housing market has achieved a very tentative sense of balance that could swing to either a modest upside or a significant downside, the report noted.

“Success in preventing a sizable proportion of delinquent properties from foreclosure will be key for a housing recovery in 2010,” the report emphasized.

Credit Suisse estimates that roughly 4.2 million homes will reach the brink of foreclosure next year. All but 1 million of these must be averted to stabilize the residential sector, the bank concluded.

Other risks to the housing market, according to Credit Suisse analysts, include a blowout in mortgage rates and an abrupt decline in purchase activity when the homebuyer tax credit expires in April 2010.

The government, though, holds these risks in its hands, the researchers said, and can alleviate any downside by prolonging the Federal Reserve’s mortgage-backed securities (MBS) purchase plan – which has succeeded in bringing mortgage rates down to record-lows and is scheduled to wind down by next March – or by extending the federal tax break for home purchases.

Credit Suisse also laid out a plan for reforming Fannie Mae and Freddie Mac in its report. It is proposing a “good bank/bad bank” split of the GSEs, with the good side retaining healthy guarantees and portfolio assets, and the bad side holding the enterprises’ existing credit book and portfolio of problem loans and securities.

By: Carrie Bay   http://www.dsnews.com/articles/stability-in-home-prices-hinges-on-foreclosure-prevention-report-2009-12-24

Amidst the high-profile news Monday about the administration’s actions to coax servicers into making more mortgage modifications permanent, the Treasury Department also laid out finalized guidelines for carrying out short sales under the Making Home Affordable program.

The administration is urging participating servicers to follow through with short sales as an alternative to foreclosure for those homeowners that don’t qualify for a reworked mortgage under the Home Affordable Modification Program (HAMP).

To entice servicers to accept a sale on defaulted properties for less than the outstanding mortgage balance, Treasury is offering incentive payments of $1,000 per completed short sale. Servicers will also receive $1,000 for each deed-in-lieu of foreclosure.

Subordinate lien holders will be paid to release their claims on defaulted properties, up to $3,000 of the short sale proceeds as long as the primary investor agrees to share the earnings, and for this concession, the investor will also receive up to $1,000 from the Treasury. For those second lien holders who want more than the $3,000 cap to relinquish their stakes, the Treasury said they can pursue a short sale outside of the federal program.

Homeowners who agree to a short sale or deed-in-lieu of foreclosure will get up to $1,500 to help with relocation, and must be “fully released” from any future liability, according to the guidelines.

The Home Affordable Foreclosure Alternatives Program (HAFA), as it is being called by the Treasury, was initially announced back in May, but was delayed because of concerns over legalities involved in the process and the rights of second lien holders to hold claim over the property. DSNews.com reported in October that the administration was readying guidelines for the program, and yesterday, they arrived.

In addition to solidifying incentive payments, the newly published procedures bar servicers from forcing short sale facilitating agents and brokerages to reduce their commissions as a prerequisite for approving the transaction.

Under the terms of the program, once a servicer determines a homeowner does not qualify for a modification, the servicer has a 30-day window in which the borrower must be considered for the HFHA program. Each participating servicer is required to develop a written policy, consistent with investor guidelines, that describes the basis on which the servicer will offer the HAFA program to borrowers.

Every potentially eligible borrower must be considered for HAFA before the borrower’s loan is referred to foreclosure or the servicer allows a pending foreclosure to sale to go through.

The servicer must assess the current value of the property, independent of the borrower and any other parties to the transaction. No payment for the valuation can be assessed in advance of the sale.

Borrowers who qualify for HAFA will be given pre-approved short sale terms before the property is listed, and once an offer is made, mortgage servicers have 10 days to approve or reject the sale.

The HAFA program becomes effective April 5, 2010, but the Treasury said participating servicers may elect to implement the program earlier.

12/01/2009 BY: CARRIE BAY http://www.dsnews.com/articles/treasury-releases-guidance-for-making-home-affordable-short-sales-2009-12-01

The first day of spring is March 20, but as writer Henry Van Dyke put it, “The first day of spring is one thing, and the first spring day is another.  The difference between them is sometimes as great as a month!”  Here are some more quotes, in celebration of spring:

 Spring unlocks the flowers to paint the laughing soil.  – Reginald Heber.

 I will always plant a large garden in the spring.  Who can resist the feelings of hope and joy that one gets from participating in nature’s rebirth?  – Edward Giobbi

 Spring is when you feel like whistling even with a shoe full of slush.  – Doug Larson

 Science has never drummed up quite as effective a tranquilizing agent as a sunny spring day.  – W. Earl Hall

 Never cut a tree down in the wintertime.  Never make a negative decision in the low time.  Never make your most important decisions when you are in your worst moods.  Wait.  Be patient.  The storm will pass.  The spring will come.  – Robert Schuller

 My favorite weather is bird-chirping weather.  – Loire Hartwould

 If we did not sometimes taste of adversity, prosperity would not be so welcome.  If we had no winter, the spring would not be so pleasant.  – Anne Bradstreet

No winter lasts forever; no spring skips its turn.  – Hal Borland

 It was one of those March days when the sun shines hot and the wind blows cold:  When it is summer in the light, and winter in the shade.  – Charles Dickens

Spring is nature’s way of saying, “Let’s party!”  – Robin Williams

 Wishing you all the joys that spring can bring.

 Sincerely,

Michael Peron
Your Real Estate Consultant For Life

As the nation’s real estate markets move closer to stabilization, more housing markets are forecast to experience appreciation in 2010, according to Destin, Florida-based Housing Predictor’s Best 25 Market Forecast in 2010.

In the New Year, housing markets in a dozen states are projected to appreciate, demonstrating the development of an improving trend in many markets across the nation. Despite the weak economy, the report said home sales are increasing in the majority of the country and are projected to improve over the first half of 2010, boosted by

the federal government’s expansion of the homebuyer’s tax credit.

Propelled by bargain prices, four Ohio markets topped the list of the best 25. According to the report, home prices dropped to such low levels in many areas of Ohio, buyers were forced off the fence into new homes. Now that prices have gotten so low, the report predicts they have only one way to go, and that is up.

Markets are also expected to appreciate in cities in Nebraska, Texas, West Virginia, South Dakota, Michigan, Pennsylvania, Louisiana, North Dakota, Delaware, Alaska, and Virginia. The report said the 12 states represented on the top 25 list include many Midwest and Northern-tier states, which have been less severely impacted by the housing crisis. In all, 44 markets are currently forecast to experience housing inflation in 2010.

The Housing Predictor forecasts more than 250 local housing markets in all 50 states and selects the best 25 markets annually. The markets listed in the Best 25 Market Forecast are those that have the highest possibility of appreciation of all market forecasts for 2010. As local market conditions demand, updates on these predictions are provided throughout the year.

12/22/2009 BY: BRITTANY DUNN http://www.dsnews.com/articles/index/housing-predictor-releases-2010-best-25-market-forecast-2009-12-22

    Here’s a quick note to let you know how I can help you or anyone you might introduce to me.

    Rachel and Steve were referred to me by a previous client.  They were anxious to sell and move into a larger home before their third child arrived, and at the end of our Initial Consultation they asked me to help them.  

    During the next 30 days Rachel and Steve turned down two offers.  As we moved into our second month we received another offer, which they were also going to decline.  I suggested this scenario:  “Let’s say you don’t accept this offer.  Is keeping your house on the market at the current price like we have for the past 34 days going to help you reach your goal of moving into a larger home before your baby is born?  I’m curious, in 90 days if we haven’t gotten a better offer, will you say to yourselves, ‘I should have accepted that offer’”?  Rachel and Steve thought about it overnight, then agreed.  Now they’re in their new home – in time to welcome their new baby.

 Michael Peron, Your Real Estate Consultant For Life

Weichert Realtors, 754-204-0069

 P.S.  Who’s the next person you know who needs to move sooner rather than later?  Be sure to give me a call to discuss how I can help them

Here’s a quick note to let you know how I can help you or anyone you might introduce to me.

     When I met with Mark and Diane they were ready to divorce each other – but not divorce their home.  They each loved their home so much that neither wanted to part with it; Diane believed the house’s floor plan and big backyard were perfect for the daycare business she wanted to start, and Mark loved his five-minute commute to work.  Neither could afford to buy the other out, so their divorce – and lives – were stalled.  Diane’s attorney, a friend of mine, suggested the couple call and talk to me.

     Before we met I did a thorough review of all the homes for sale in our area, and found a two-bedroom condo in a great complex just seven minutes from Mark’s office.  I also researched two houses that could meet Diane’s criteria, in an older, more affordable neighborhood.  When I put these properties in front of them they agreed it was time to let me help them explore all their options, list their home, and move on with their lives.       

Michael Peron,

Your Real Estate Consultant For Life

 P.S.  Who’s the next person you know who’s making a change in their life that may involve moving?  Be sure to give me a call to discuss how I can help them.

Could You Dare To be Different in December?

 Here are three ideas to help make December better for you, those you love, and our planet – if you dare!

 For Them:  If you have children or grandchildren, have a conversation in advance of the holiday asking them to consider foregoing one or two gifts from you, and donating the money to a charity that’s meaningful to them.  Spend some time together on the Internet looking at various charities and what their goals are.  Whether it’s children in a foreign country in need of school books, or the library in your town in need of funds to purchase books, or animals in need of rescue – there’s something for everyone.  If you encounter resistance, compromise by foregoing one gift this year – and aim for two next year.

 For You:  If you’re hosting a holiday meal, take the onus of preparing everything off of you and ask each guest to bring something:  a salad, a dessert, a bottle of wine.  And after the meal, instead of exiling yourself to the kitchen to do all the clean up, assign tasks to various guests; for example, “Jack and Cathy, will you help me clear the table?”  And, “Rob, come help me put the leftovers away.”  Of course they won’t say “No”!  You’ll all get out of the kitchen sooner, and have more time to relax and enjoy each other.

 For the Planet:  Too many holiday trees end up in our landfill.  When you recycle your holiday tree, it can be turned into mulch and used in landscaping and gardening, or chipped and used for playground material, hiking trails, paths and walkways.  Recycled trees are also used for beachfront erosion prevention, lake and river shoreline stabilization, and fish and wildlife habitat.  And in some communities, the trees are chipped and then burned to generate electricity for area power companies and, ultimately, to power thousands of homes around the region.

 This December – dare to be different!

Here’s a quick note to let you know how I can help you or anyone you feel comfortable introducing me to.

            People have lots of reasons to move into – or out of – our area.  Perhaps one of the parents has been offered a great promotion at work and now finds they need to move.  Perhaps they want to be closer to family members.  Perhaps they want a change of weather, a change of scenery, or they’re just ready to move on.

            Whatever the reason, all moves have something in common:  It’s hard on the kids.  The next time you’re in a conversation with a friend, family member or neighbor and they mention moving into or out of our area, would you stop, take out your cell phone, look up my number (754) 204-0069 and call me immediately?  I’ll send you my free report, Making the Move Easy On the Kids.  When you give this report to a family who is considering a move, they’ll come back and say “Thank you for taking the time to think about how their move affects the whole family!”

 Michael Peron, Your Real Estate Consultant For Life

 P.S.  Moving is a challenge for any family – even if it’s just across town.  Who’s the next family you know who’s moving?