"They needed one man to be sad and lonely and they gave me the crown"

Barbara Orbison attributed this quote to her late husband Roy Orbison

Short sale in Cocoa Beach, bank approved price of $630,000, pool, riverfront and 3 car garage.

How long should you give yourself to get over that pang of guilt for a short sale or foreclosure?  I would recommend approximately 2 minutes.  I have always believed in being a man of my word and living up to my responsibilities.  With that being said I also believe that your main responsibilities are taking care of yourself, your family and trying to be able to get old in relative comfort.  Paying for a property that is worth 50% less than the mortgage value is not a very good way of achieving your goals when chances are  very good that you won’t live long enough to see the property come back up to the mortgage value.

Do me a favor and research the profits of the big lenders of our country for 2010 and the 1^st quarter of this year.  Now after billions in bailout money, look at the tax refunds that were paid back to these same lenders for 2010.  In a logical world the banks would work with the owners to modify mortgages to an amount close to the current value with options to increase mortgage amount if property values increase in the future.  In our current financial world the banks would rather short sale or foreclose on a property and sell it to another individual for the appraised value or even less.  This probably doesn’t make sense to you as it doesn’t for me however when you keep in mind that the banks are not losing money since they are protected by you and your tax dollars then the light bulb will come on for you.  How sweet would it be if when all the borrowers who were paying mortgage insurance to protect the banks also had a clause to adjust mortgage amount to property value when property values went below mortgage amount?

BOTTOM LINE, TAKE CARE OF YOUR FAMILY WITH SOUND BUSINESS DECISIONS.

Ada and Jim Bagwell

"I will carry you"

Michael Smith

Hard to believe this pic is Florida, home in Melbourne

We had a meeting today with our short sale team and came out with some conclusions.  In some situations when you are offering a service to the public and feel you are proficient at this sevice then you owe it to yourselves and the public to get the word out.  We have been extremely successful in listing and selling properties which are short sales.  I feel that we do this in the way it should be done.  Since we have been through the process we know enough to keep it personal and treat all people with the dignity that we all deserve.  You will never be turned over to a short sale factory and when you call for an update you will speak to a member of our team or will get a prompt callback.  We promise to give you an update on a weekly basis.

Some interesting short sales for you buyers. 

A weekly rental condo in Cocoa Beach, 1 bedroom 1 1/2 bath side view of the ocean and a very popular rental destination for tourists.  This condo is listed at $139,900, the latest comp for a sale is $130,000.  You can create a postive cash flow with proper management.

A very nice unit in a smaller complex in south Cocoa Beach and listed at $255,000.  This area of the beach is really beautiful and the unit won't stay on the market for long.  Features 2 bedrooms 2 baths with 1568 sq ft.  Call today!!

If we can help you with your short sale needs don't hesitate to call for listing your property or finding you a buy!

Thanks

Jim Bagwell   

"A change will do you good"

Cheryl Crow

Short Sales

We have recently seen tremendous improvements in dealing with lenders on short sales.  It is getting to the point with a resonable offer from the buyer that we can get closed under 60 days.  This is huge and a big help in decreasing the inventory.

Merritt Island

A new short sale on the market on a canal with a pool, 1652 sq ft with 3 bedrooms 2 baths.  This is priced at $229,000 and may close at that price or close to it.  This could be a great way for a 1st time buyer to step in to a home that was beyond their imagination.

A home that was built in 1908 sitting on the Indian River and has been renovated over the years.  This home features .67 acre, 4325 sq ft with 5 bedrooms 3 1/2 baths with observation tower and boat house.  The negative of this property is that it is next to condos.

Call today and lets make your dreams come true in a home.

Jim Bagwell