st petersburg short sales and foreclosures

All posts tagged st petersburg short sales and foreclosures

 St Petersburg Short Sales | Why won’t I qualify?

St Petersburg Short Sales, why won’t I qualify?  Well, how do you know?

There are all kinds of myth and rumors and false information going around when it comes to Short Sales.  Where did you get your information? Who did you get it from? A St Petersburg Short Sale Real Estate Agent or a Short Sale Lawyer OOOR was it just all the “stuff” you heard from friends, read in the newspaper and watched on TV?

If you are thinking about doing a Short Sale on your St Petersburg home or condo, talk to the experts. This is a tough, frustrating and depressing time for you and you need the help of true professionals, not the good will of friends. It is important that you talk to people who are involved in Short Sales on a daily base. Things change all the time and what was true 3 month ago might not be true today.

Talk to a local Short sale Realtor first and he or she will tell you who to talk to next. It is important to start the short sale process with a clear plan of action in mind. You have to have all your paperwork in order. You need to write a hardship letter and on goes the list. With an expert Realtor on your site a short sale is not scary !

Pick up the phone now and call us at  727 410 7777. No strings attached, we make an appointment and talk about a Short Sales and the options you have, do not get discouraged by all the “stuff” you hear.

St Petersburg Short Sales | Why won’t I qualify?

Click here to see the current Short Sale listings in Pinellas County

St Petersburg Short Sales |  How much money have you lost by waiting?

St Petersburg Short Sales started years ago. In 2006 the real estate market started to lose its momentum here in St Petersburg,  Florida. Many people did not see it and it wasn’t until the end 2007 that the word got out.

People who bought their St Petersburg property in 06 and 07 paid top dollar for it. If you are one of them, chances are that you’re upside down on the value, meaning to own more than the home or condo here in St Petersburg will sell for right now.

There are a lot of investment properties like vacation homes and condos in St Petersburg and most buyers typical paid 20 down and had 80% financing.  Back then, it all made sense, If you bought a condo on the beach in St Petersburg with a 7 day rental policy for let’s say $400,000 and you had a down payment of 80%  and an interest rate of 6% you yearly mortgage payment was $19200.

That is about the same amount you would get in rental income. Ok you still had to pay the taxes and monthly maintenance fees , altogether maybe another $10,000 but if you  came to Florida 4 times a year and stayed for a week at the time this would save you about $6000 in moneys you did not have to spent  in renting.

That leaves us with $4000 per year that this condo was actually costing you. Something you could easily afford and in fact you were thinking of making a ton of money when you sell your St Petersburg property in 4 or 5 years after the purchase.

At this time we had a 10% appreciation in some cases even more. So, you would have pretty much made about $36,000 per year by owning this St Petersburg condo. Hey, even if the appreciation would go down to 5% you would have still made $16,000 per year with your St Petersburg home or condo.

Everybody knew that the market would eventually slow down; nobody realized that it would completely crash and property values would decrease faster than they had increased.

So, here is our question again, how much money have you lost by waiting?

Maybe you should have considered a Short Sale here in St Petersburg  two or three years ago. Every body’s situation is different but maybe it is time for you to consider a Short Sale on your St Petersburg condo.

Short Sale is a scary word and there is a lot of misinformation floating around. If you are thinking about buying or selling a Short Sale or just want to know what a Short Sale really is, give us a call today 727 410 7777 and we can talk about your options.

St Petersburg Short Sales |  How much money have you lost by waiting?

St Petersburg Short Sales | Why did I wait that long?

We are  Short Sale Agents here in St Petersburg,  and have seen a lot of homeowners totally stressed out about their Short Sale situation.

Let’s be honest, it is only human nature to stick our heads in the sand when we face a problem that we do not know the solution for. The longer we do this,  the worst the situation is going to  get and the more frustrated, depressed and confused we get.

Deep down we all know that listing the house or condo as a Short Sale in St Petersburg  is the right thing to do,  but somehow we wait and wait and wait to make the decision and that doesn’t solve our problem, it makes it bigger and makes us feel worst by the day.

Every single time we met with a homeowner here in St Petersburg  that just could not make the mortgage payments anymore, was under water with the home value and was thinking about doing a Short Sale in St Petersburg, we have seen the same thing.  People in denial, people not really understanding a Short Sale, people afraid of their future, people in need of help.

After we answered all their questions and explained the whole Short Sale process and they signed the listing agreement, they INSTANTLY feel better, it happens every single time.

Talking to a Short Sale Realtor that understands your situation and knows  the real estate market will make all the difference for you.

Pick up the phone, call us today  727 410 7777 and get all the information you need to make an educated decision about buying or selling a Short Sale in the Saint Petersburg area.

Do not listen to all the horror stories you hear or try to do your own research, simply pick up the phone, make an appointment and talk to a St Petersburg Realtor that has experience in Short Sales and we promise, you will feel like a huge load is off your shoulders.

St Petersburg Short Sales | Why did I wait that long?

St Petersburg Short Sales| Worried about what everybody else is thinking?

As  St Petersburg Short Sale Realtor, we hear thinks like “I have lived in St Petersburg  for over 20 years and I know a lot of people and I am worried what my friends and neighbors might think if my home here in St Petersburg goes up for a Short Sale”   a lot when homeowners call  us.

We do understand the situation and we do understand the concerns, but to be very blunt, your neighbors do not have to pay your mortgage, you do. They did not lose their job, you did and on it goes.

In a Short Sale in Petersburg  you have to think about yourself,  your family and your future first, not your neighbors or friends. You have a bunch of good reasons why you need to do a Short Sale and these reasons most likely are not going away anytime soon.

You didn’t do anything to cause the real estate market crash and it is not your fault that prices for homes and condos here in St Petersburg are down by 30 to 50 percent.  Again, we know being in Short Sale situation in St Petersburg or anywhere else is not fun. It is very stressful and depressing but you do not need to feel guilty on top of everything else.

Short Sales in St Petersburg have become a part of our new real estate market condition in St Petersburg and many other homeowners are in the same position you are in. Do not worry about anybody else, it is your life and your future and you need to make a decision on listing your property as a Short Sale in St Petersburg as soon as possible.

The real estate market is not going to turn around anytime soon and St Petersburg real estate prices will not jump back up as fast as they have fallen. The sooner you make a decision the sooner you are on the road of recovery and out of this mess.

Call us anytime for a buying or selling Short Sales consultation at 727-410-7777. We are Short Sale Agents in St Petersburg

St Petersburg Short Sales| Worried about what everybody else is thinking?

St Petersburg Short Sales | I already feel better about my situation.

Trust me, as a Short Sale Realtor here in St Petersburg Florida I have seen a lot of homeowners totally stressed out about their Short Sale situation.


Let’s be honest, it is only human nature to stick our heads in the sand when we face a problem that we do not know the solution for.
The longer we do this the worst the situation gets and the more frustrated, depress and confused we get.  

 

Deep down we all know that listing the house or condo as a Short Sale here in St Petersburgis the right thing to do but somehow we wait and wait and wait to make the decision and that doesn’t solve our problem, it makes it bigger and makes us feel worst by the day.


Every single time we met with a homeowner here in St Petersburg that just could not make the mortgage payments anymore, was under water with the home value and was thinking about a Short Sale, we saw the same thing.

  • People in denial,
  • people not really understanding a Short Sale,
  • people afraid of their future
  • people in need of help.

After we answered all their questions and explained the whole Short Sale process and they signed the listing agreement, they INSTANTLY feel better, it happens every single time.  

Talking to a Short Sale Realtor that understands your situation and know the real estate market in St Petersburg will make all the difference for you.  

 

 

Pick up the phone, call us today  727 410 7777 and get all the information you need to make an educated decision.  
Do not listen to all the horror stories you hear or try to do your own research, simply pick up the phone, make an appointment and talk to a
St Petersburg Realtor that has experience in Short Sales and we promise, you will feel like a huge load is off your shoulders.

St Petersburg Short Sales | I already feel better about my situation.

Saint Petersburg Short Sales | should I do a Bankruptcy or Short Sale.


It might sound like a tough questions to some people, to us it isn’t.
Please keep in mind,we are Short Sale Realtors here in
Saint Petersburg and not lawyers or accountants, so we cannot give you legal advice but PLEASE check with your accountant and a Short Sale lawyer before you file for bankruptcy.  

As Saint Petersburg Short sale agents we get the question often

“Do you think I should do a short sale or simply file for bankruptcy with my  

Saint Petersburg

 

home?

Well, if it was me I would do a Short Sale anytime over a bankruptcy and depending on the outcome of the short sale you might not even need to file for bankruptcy anymore.

See, it doesn’t have to be the one or the other.  
Of course, if you get your advice from a bankruptcy lawyer, there is a very high possibility that they recommend a bankruptcy because they will not get paid if you don’t.  

Please keep this in mind when you make a decision. We always recommend talking to a Saint Petersburg Short Sale Realtor before making any decision.

Ask all you questions, talk about your options, understand the Short Sale process and only then can you make an educated decision.

A Short Sale is not a walk in the park but it is not a horror story either.
We have had a lot of clients over the last few years that were every scared about their Saint Petersburg Short Sale but in the end they all said that it was easier than they thought and all were happy that we helped them through this tough time.

 

Call us today 727 410 7777 and make an appointment, you will see how much better you already feel after talking to a professional that knows the Saint Petersburg real estate market and that knows Short sales.
Saint Petersburg Short Sales | should I do a Bankruptcy or Short Sale.

St. Petersburg Short Sales | can I switch my boat slip?

We recently had a Short sale listing in St. Petersburg that had a deeded boat slip.

 

Our seller got approached by another condo owner that also had a boat slip but much smaller. He asked our Short Sale seller if it was ok to switch boat slips since the seller would not be needing it anymore after the sale.

As you might know Boat slips in St. Petersburg   are very thought after and the bigger the better. Not really thinking about it too much and being all occupied with getting his paperwork for his Treasure Island Short sale together, our seller said ok, why not.

We (the Short sale listing agents) did not know anything about this till we got a phone call from yet another condo owner in the complex.
That guy was complaining about us advertising a Short Sale in St. Petersburg with a huge deep water boat slip when that wasn’t true anymore. As you can imagine, we were very puzzled and had no idea what he was talking about.

Took us a whole day and about 20 phone calls to straighten this situation out. So, please if you are thinking about doing a Short Sale here in St. Petersburg   and you have a boat slip that is deeded to the property PLEASE do not make any deals with your neighbors or anybody other that the buyer of you Short Sale listing.  

Trust me, you cannot simply “detach” a deeded boat slip. In a Short Sale situation you need the bank approval for pretty much everything you do.

 

 

You can take out or sell NONE deeded or none attached items like furniture or potted plants but no boat slip. And that is true for all Short Sales, not only the St. Petersburg Short Sales.  St. Petersburg Short Sales | can I switch my boat slip?