I am joining in with many other bloggers across the country in mourning the loss of our friend Sheila Lublin. As a sign of respect, our blogs will be quiet tomorrow as she is laid to rest.
To show our support, we will be helping raise over $1500 by Monday to support Sheila’s husband Bill and his favorite charity, the American Cancer Society. We hope to go above and beyond our goal.
The Mail Box Series will continue again next week. Speaking of mailboxes, if you’d like to send Bill a “real” note contact me directly for his mailing address. Remember snail mail? I’m sure Bill could use words of encouragement to help him through his grief.
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Want to have a little fun in the Bonita Springs, Naples or Estero area? Looking for a place to eat or things to do? Then you’ve got to treat yourself, your family or business associates to a lunch or dinner at Stir Crazy at the Coconut Point Mall. Yes, Stir Crazy is open for lunch, too.
Grand opening night for the Stir Crazy at Coconut Point was Monday August 04, 2008. What a great opening. The restaurant was buzzing with people, media and staff. The Taiko drums were so much fun (loud) and entertaining.
The decor of Stir Crazy is whimsical inside. Have you ever seen 20 foot chopsticks holding a shrimp, suspended from a ceiling? I hadn’t either until last Monday night. The restaurant is designed with an open concept. Dining and grill are open so diners can watch the chefs in action. Here’s a little secret when you’re watching the chefs, about every 15 minutes the chefs hit a gong and the entire wok grill goes up in flames. Quite dynamic!
If you choose to not order from the menu there is a great alternative to the regular menu. The “Market Bar”. Basically, if you order the Market Bar you can walk in line quite similar to a salad bar and choose all of the vegetables that you’d like in your stir fry meal. If you’re all about broccoli, water chestnuts and maybe a few baby corn, you pick only those to be in your stir fry. You dish it up yourself, choose your sauce, the chef adds chicken, beef or shrimp at your request. Presto! Stir fry like ‘you’ want. There isn’t another place in Estero or Bonita Springs that offers that.
You just can’t beat building your own dinner. You just can’t. Here are a few pictures of photos from Stir Crazy that you may enjoy:
Every day, some somewhere around Southwest Florida there is a storm just like this. It rains like mad and then it’s suddenly over, the sun comes out and rainbows are everywhere. This was a good micro-downburst with a little bit of a light show, too.
This storm kept me company while I drove a short sale package to Naples. Cross your fingers, the short sales are *still* a crap shoot.
When you live in Bonita Springs, Florida you get a lot of out of town visitors. A lot of the visitors come in the winter for obvious reasons. Our weather is fantastic most of the year but especially so October through May when it is coldest in the Midwestern states. When the visitors come to town there are a few things locals need to have on hand, the name of a few hotels, a gallon of SPF 50 for their guests and a couple of good entertainment and dining ideas.
A fail safe dining plan is to go to Doc’s Beach House in Bonita Springs on Bonita Beach. If you’re one of the old timers like me, you remember Chuck’s Poorhouse. Chuck’s is long gone and the site is now a public park but just a few hundred yards to the north is Doc’s Beach House.
For starters it offers valet parking on the beach for dining. Not that it’s that uppity or snooty but because there is limited parking and they really have to plan that whole thing out. You’ll get a spot no matter what is what I’m saying. Space is limited so enjoy the help. Tip your valet too, this isn’t a public service. Next, this is a great place to take kids. If your looking for things to do with kids that want to run and play or dig in sand you can:
Get an outside, gulf side table to watch them.
Watch from upstairs with a birds eye view.
Stay downstairs in the dining area and come back to your table when dinner is served.
Volleyball nets are set up for little and BIG kids to have fun.
Jet ski and parasail rentals are just behind Doc’s on the beach.
There is something for everyone on the menu at Doc’s Beach House and they serve breakfast, lunch and dinner. Pizza, sandwiches, the best fried shrimp in town, salads and fish dinners. The restaurant serves casual food so you know casual attire is welcome. The kids can be a little restless, too. It’s a little noisy so it won’t be noticed.
A head’s up in advance, Doc’s only takes cash, no credit cards, but there is an ATM onsite. Bring the greenbacks not the plastic backs.
The next time you’re in town stop by Doc’s Beach House for a bite to eat and watch the sun go down. Don’t forget your camera!
If you’re planning on visiting Doc’s: Here’s the Map This is what it looks like behind Doc’s, if you’re curious:
This was in my front yard when I pulled in this afternoon. I’m sure he’s the father to the swarm of baby armadillos that live under my house. They must go. I hear they taste like chicken.
When Bill Murray becomes incensed with destroying the gopher in caddy shack I thought it was hysterical. We don’t have gophers in south Florida, or at least I don’t think we do, but we do have other critters. Heck, I didn’t think we had coyotes down here until they started snacking on pocket pooches a couple of months back.
I live on the back of a preserve. Its a few acres of overgrown topical mess with a couple of oak and maple trees peppered though cypress head. One of our biggest concerns has been a family of bobcats eying up my little tasty dog. We’ve had a few minor brushes with nature being so close. Mice and rats attracted by bird seed started to be a little too plentiful. Alterations to the landscape, steel wool in the eve gaps and a tablespoon of peanut butter rat traps fixed that.
It wasn’t too long ago that bigger creatures made their presence known. My house is built on little stilts so there is a crawl space under it. Things started going bump in the night. I never saw anything but heard plenty of ruckus. Being the resourceful Ohio farm girl that I am I decided to relocate the creature under the house to greener pastures or at least to the other side of town where they’d have room to roam. Don’t get me wrong, I love animals. I just don’t love them under my home and tearing down the insulation.
A trip was made to the Northern store in Fort Myers to order a Havaheart trap. I will share with you right now that I have absolutely no skill or expertise in animal trapping. I probably had no business doing this but I was worried if I called a trapper that they would kill it and I didn’t want it dead, I just wanted it somewhere else. So a week later, the trap is delivered and out of the box it comes, fully assembled and ready for use. I whip an apple in it and set it by the bushes where I hear most of the noise.
The first day, we catch Lucrecia, who we guessed was a mother possum, and she is disgruntled to say the least. So now what do I do with her? I call my son and tell him I’ve trapped a possum and I ask him to take to the prairie he’s always talking about east of Bonita Grande Road. I figured that was plenty of distance between me and the creature, right? Just for good measure I throw another apple in the trap and lo and behold, I catch what I have convinced myself was her husband. In all, we actually caught three possums and relocated them to east Bonita. A fourth was spotted in the area but packed up and left before it was captured. Finally, I’ve realized the benefit of having a redneck, country child; possum relocation without raising an eyebrow.
A new challenge has shown itself in the last few weeks. Armadillos. I’ve been consumed with trying to run them off. I really don’t mind that they’ve dug up most of the back yard. The grass was dead from the winter draught anyway. It’s just that when the dog tore after them they weaseled their way under the lattice and went under the house. It was clear by, by the gully they wore, that they’ve been there many times before. Under the house, there is more than one already and I’m not sure if they don’t carry some sort of cooties and parasites. So Lumberjack, my darling son, is bringing the trap back today. The armadillos are as cute as all get out, but we’re relocating a family of armadillos to the prairie, next.
There was a lot of carrying on that came with the coyotes that started cramping our style. Unfortunately, when man versus nature a wrestling match begins that nobody really ever wins. We built our homes in their back yards and then we get upset when they hang around. I don’t really mind wild animals being around me, I just don’t want to live under the same roof with them.
So, I’ll try to share my little part of Southwest Florida with the varmints that also call it home. I’ll walk my dog on a shorter leash, carry a nine iron and relocate an occasional possum or armadillo to the prairie when they get too close.
Do you know what a pop tart agentis? If you’re a buyer, a seller or even another agent, you need to know if you don’t know. There are a couple of species of part tart agents:
A pop tart agentgets a phone call and runs out the door to let someone in a property when they know little to no information about a buyer, their history, their financial/creditworthiness or ability to buy. Just like a toaster. Pop and they’re up and out the door.
A pop tart agent has car load of buyers and they drive by a home with a for-sale sign and call while sitting in front of the home or brazenly knock on the door. They want to see it without knowing any information about it, size, price, number of bedroom, if it remotely fits their buyer’s needs.
There probably isn’t a seller or listing agent that hasn’t had to deal with the pop tart agent at one time or another. I’ve had to deal with it on more than one occasion myself. My seller’s have been good sports about it so far, but I usually have educated them in advance to be prepared for it when it does happen.
To turn away a showing is stressful simply because some areas of the Bonita Springs real estate market are languishing and every potential buyer is to be valued, even if we’re not sure if they’re qualified. Ultimately, it is up to the seller to choose whether or not to they wish to accommodate a short notice showing. They can always say no but most of the time the seller feels compelled to try to fit them in because they’re worried that the buyer is the one they’ve been waiting for. Basically, it’s a crap shoot and the odds really stink that a buyer is going to be found like this.
Not long ago I had a pop tart agent call me after speaking to my seller in the front yard. The agent approached my seller in their front yard without an appointment or permission to do so. She wanted in right away with her car load of buyers (four adults and two children). I first thanked her in advance to not speak to my seller again without my permission. She then:
Informed me that she was from a city over one hour and a half away from Bonita Springs.
She is not a member of either of the closest Board’s of Realtors.
She cannot access our lockbox because she doesn’t have the technology.
She wants me to take her word for it (on the phone) that she is, in fact, a licensee and wants my seller to vacate for the showing and leave the door unlocked for her to be able to get in.
Let’s just say, when pigs fly. What are the odds that a legitimate sale will result from this in the near future? This agent was not remotely educated in our local inventory or even able to get to the information to educate herself or her buyers. I hardly believe that a celestial light shined above this house indicating that it was the hidden treasure the buyer had been searching high and low for in this inventory saturated market. Fortunately, they miraculously found it when they spotted it from the back seat of the mini van. I wonder if they got prequalified for their mortgage back there, too.
It is aggravating to be involved in a situation like this. In order to accommodate the showing the sellers have to scramble to ready the home, the listing agent has to drop what they’re doing or rearrange their plans and appointments to open the home, knowing full well that they’re only dealing with a licensee, not a professional real estate agent. Professionals don’t usually help buyers find homes by going door to door.
The last pop tart adventure even inspired me to sit my seller down and fully explain the facts surrounding the fiasco. First, they probably shouldn’t get their hopes because showings like this are about as successful as a monkey throwing darts in the dark. Second, they should not believe that everyone that beats their door down and asks to come inside is a legitimate agent or home buyer. Sadly, some people aren’t honest and that’s another job the listing agents have, screening or accompanying those who do go into the home.
As a safety issue sellers shouldn’t allow strangers into their home without an appointment. It just isn’t a smart move. Anyone can be a target for pop tart posers but here are a few examples of those that should be especially watchful.
Pregnant women
Families with newborns
People who may have confusion, physical weaknesses or illness
Single parent households
People that may have valuables, collectibles or expensive pets
People with serious medical issues that require strong medication or narcotics for pain.
Seller’s of real estate in Bonita Springs and Estero need to understand how to and protect themselves and their homes. That includes not letting someone stop out front and talk their way into their home.
If you’re a seller of a Bonita Springs home and you’re faced with a pop tart agent or buyer who walks around the real estate sign in the yard and tries to talk their way in, simply say: “We’re not available right now to accommodate a showing” and then hand them the card of your real estate agent to make an appointment. If they’re serious they’ll call to schedule an appointment to see the home. If they aren’t you’ve just saved yourself unneeded stress and protected your home, just like you should. Sure, there’s always a one in a million chance that it could work out, but it can work out with an appointment, too.
Don’t you wish this was you? I know I wish this was me. The weather in Bonita Springs has been really beautiful lately. This photo was taken at about 7:00 p.m., on Bonita Beach behind Docs, and it was just a little cloudy over the gulf. You could still see Sanibel Island in the distance, though. People line the beaches at about 6:00 p.m. getting ready for the sun to go down. Some of the people are there every day, just in case they hadn’t seen the most spectacular sunset *ever* and today was going to be that day.
Bikers roar in on their Harley’s, kids drive up on their bikes and cars park at the access. Everyone scurries to the waters edge and just sits there really silently. It’s almost like a circle of people around a campfire totally mesmerized.
See, that’s all we need for peace in the world. Everyone just needs to watch the sunset over the Gulf of Mexico.
For some reason I just keep hearing, “Mommy, where are my Lincoln logs”? I’m just glad I found a mailbox that wasn’t a fish shape, again. Hey, I’m a little bored looking at only fish mailboxes, too.
This cute mailbox was found in Gull Haven or Bonita Farms in Bonita Springs, Florida. The area is located off of West Terry Street and most of the homes are on canals or on the Imperial River and offer gulf access. Needless to say, Bonita Farms is a popular boating area and a lot of people fish for sport. I am not sure why it’s called Bonita Farms because there isn’t a farm anywhere around here and it isn’t even zoned for livestock. I vaguely remember reading something at the Bonita Springs Historical Society about it once being farms or a farm. I’ll check back into that at the next Riverside Park event. FYI, the Historical Society has an exhibit in the Liles Hotel at Riverside Park.
If you own a home in this section of town there is about a 30 minute idle down the river before you’re able to get to the bay and speed up. It’s a fun relaxing trip and the homes that line the Imperial River are great to look at. Those who enjoy canoing and kayaking find a good time on the Imperial River and I believe the blue way also dots it’s way through the mangroves at the west end of the river.
Homes in Bonita Farms that offer gulf access are priced from $250,000’s and upward depending upon age, location and condition of the home. Vacant lots in Bonita Farms are still available and they’re priced from the $150,000’s and upward depending upon canal width and proximity on the river. Naturally, river front homes and lots command higher prices than canal, gulf access homes and lots.
If you’re looking for things to do in Bonita Springs and Estero and a great way to have fun, listen up. This is a great low cost event and a fun way to get out and meet other Bonita Springs and Estero residents. Why wait until the Taste of Bonita for a chance sample Stir Crazy. <nudge>
Stir Crazy, is a new Asian Grill at Coconut Point Mall that is going to be opening on August 4th at Coconut Point in Estero. The cuisine is bold and delicious Asian food, cooked from scratch, everyday. They have a fun, open kitchen, full bar and great kids menu. They even have food for picky eaters just like me! Stir Crazy looks like it will be an interesting and great place to eat for just about anyone. If you’re curious about the menu? Download this: Stir Crazy Menu
Don’t miss getting in on grand opening day action. There will be Taiko Drummers starting at 6 p.m. on the opening night- Monday, August 4th.
Space is limited, so you should sign up right away. Here’s a map to Stir Crazy: Map to Stir Crazy. If you just want to wing it, Stir Crazy faces US 41 and is located in the area of Panera Bread, Barnes and Noble Book Store.
Next, if you cannot attend the grand opening events, or even if you can, you’re invited to enter the Grand Opening Giveaway. Everyone who signs up with us before we open will be entered into a drawing to win:
Best of all, Stir Crazy will make a $5.00 donation to a terrific local charity for everyone who attends one of these events. The terrific Stir Crazy partners:
Barbara’s Friends, the Children’s Hospital Cancer Fund at Lee Memorial Health System
Big Brothers Big Sisters of Southwest Florida
Harry Chapin Food Bank of Southwest Florida
The only way to book a table for this special events is to sign up online at:
Just a little flower growing in Bonita Springs. I see this flowering bush out my kitchen window in my neighbors back yard. I found my way to take a photo while the sun was going down today. I’ve been a little under the weather the last few days and haven’t written much. Tomorrow is a new day. I’ll hit the sheets early and try to get back on track. Thanks for reading.
If you’re like me and you’re tired of choking on bugs while you’re riding your bike or running there is salvation behind those doors. LA Fitness opened last Friday and I’m wearing out the treadmills, not choking on gnats and enjoying seeing a whole bunch of friendly faces from my last gym.
A word to the wise if you’re heading in to the new LA Fitness to work out. Do not wear a cobalt blue shirt and black pants. It had not occurred to me until halfway through my workout that I was being stared at and followed around because everyone thought I was a trainer. Uh, muffin tops would have been the first clue that I wasn’t a trainer, but that’s my own private Idaho.
See you at LA Fitness. I’ll be the one not wearing blue.
Yesterday, I taught a brief class on Absorption Rates at our Bonita Springs Keller Williams office and ended up returning after our office meeting today to make sure anyone that may have missed the class knew just what I was talking about and how best to show their Seller’s the reality of their situation. Yes, we not only share our information at KW, but we also teach each other. That’s how we roll. Remember, real estate is local and even hyper-local. Every neighborhood is different, so by all means do not panic when you read the sample equation. The numbers that apply to your community will be different. Inventory influxes and sales also alter the data.
First, what is an Absorption Rate? The Absorption Rate is the ability of the real estate market to sell off all of the houses that are for sale. For example, if 10 homes are sold every month and there are 120 homes for sale then it will take 12 months to sell all of those homes. If there are 240 homes for sale then the absorption rate will be 24 months or 2 years.
If you would like to sell in 12 months then you need to take the absorption rate into account. In the above scenario with 240 homes for sale, we know that only 1/2 of them will sell in the next 12 months.
To price a property correctly it would have to be in the lower 50% of the price range for similar properties in order for it to sell in the next 12 months. Ideally, to sell in the next 6 months it would have to be priced in the lower 25% of the competition.
Sounds simple enough, doesn’t it? Unfortunately, many Sellers of Bonita Springs real estate have no idea what the Absorption Rate is for their style of home or their community.
This is why you need to know the Absorption Rate of your home before you even list.
My example is for an Oakmont Model at Village Walk of Bonita Springs. Village Walk has only four floor plans from which to choose so this is an easy exercise. Keep in mind that the figures used are for MLS properties and exclude builder inventory and the information is subject to change and not guaranteed. It is simply a snapshot in time guideline of listings that were on the market and sold within one year of March 4, 2008 - per Sunshine MLS of Southwest Florida.
Current active listings of Oakmont floor plans in Village Walk - 13 units
Closed sale listings of Oakmont floor plans in Village Walk - 6 units
6 Closed sales divided by 12 (months) = .5 (the rate of absorption)
13 Active listings divided by .5 (the rate) = 26 months
26 months divided by 12 = 2.16 years
Not know how long it could take to sell off existing inventory is a costly mistake. There is no way to effectively price your Bonita Springs home for the market without knowing the absorption rate for your community or style of home.
If you have been researching condos for sale in Rapallo, take a look at the Vernazza model. The Vernazza is the smallest floor plan model available in the carriage homes at Rapallo at Coconut Point of Estero, Florida. The Vernazza offers 1,966 square foot of living. Gracious living area, as far as condos go, in Estero, Florida or even Bonita Springs, for that matter. The three bedroom, two bath, two car garage, Vernazza model offers ground floor level living for easy access and no stairs to struggle climbing.
At this time there are a wide variety of homes for sale in Rapallo but only a limited amount of Vernazza models available. The current list price for the Vernazza model is from the mid $300,000’s to about $400,000.
Most condominium homes in Rapallo offer water views, but they all offer the great amenity package that Rapallo offers. Don’t forget that community beach shuttle that is included with home ownership. It’s a keeper and a great asset for homeowners and resale purposes.
Enjoy the images of Rapallo, home of the Vernazza model at Rapallo.
Real Life in Bonita Springs is a project by Chris Griffith dedicated to writing useful blog posts for consumers about the Bonita Springs, Florida area. Find out what it is really like to live in Bonita Springs, Florida by reading about our fair city. You’ll get the latest in local real estate information, Bonita Springs real estate market reports and a little bit of humor. If you have topic ideas, feel free to request a story about the idea, after all, this site is just for you.
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Retirement in Naples - Marco Island - Bonita Springs
This must be the week for Southwest Florida making top ten lists. Just a few days ago I found out that Lover’s Key Beach Was Voted One of Florida’s Best Beaches and now I just found an article that reads that the Naples - Marco Island area was nominated as one of the top ten “Healthiest Hometowns” by AARP Magazine.
The part about Naples is on Page 2 of the article.
Since Bonita Springs is the next village north of Naples, that means we’re in! <wink> Don’t you just love how I invited myself to that party. Why? Because we have beaches just like Naples and Marco Island, simply a few miles north. Plus, the only downside mentioned in the article was, “The downside is high housing prices and a high cost of living. Naples has been hit hard by the foreclosure crisis-but that means you might be able to find some bargains here.” Might find bargains? I’m sure you can find bargains, including retirement bargains. I’m even more certain that you can find great deals on Bonita Springs real estate because I see them with my own eyes every day.
The Bonita Springs real estate market has calmed and has maintained at adjusted levels of pricing while inventory is slowly being absorbed. Check out the last few months of absorption of Bonita Springs real estate:
Just a little bit at a time, it’s getting picked away. Watch those interest rates. If the prices are no longer going down your next challenge will be interest rates rising. You do want to move here, right? You’ll live longer! AARP says so. An average of 80.97 years worth of longer. This just might be a great place to check into real estate if you’re looking for a retirement destination.
Recently, I joined Rotary International. I’m having a great time meeting so many new people and getting involved with the community. Why did I join Rotary? To serve the community and to get out and meet people. Real people, not just the one’s living in my computer. A little human interaction. What task does Rotary immediately assign me? Writing programs and newsletters. It seems I can’t escape the written word or the computer. Not that I was *really* trying.
Yesterday, at noon Rotary which is held at Spanish Wells Golf and Country Club, our guest speaker was Dr. Aswani Volety. The big kahuna in charge of marine science at FGCU. He announced that August 9th at Carl Johnson boat launch volunteers are able to participate in rebuilding oyster beds. You see, the professor heads up a program where old oyster shells from restaurants are bagged and put in the bay at *just the right time* and in *just the right place* to make baby oysters grow. The oysters are needed to keep our water systems balanced and healthy. The marine program is feather in the cap of Bonita Springs. There is nothing like it anywhere else in Southwest Florida. It’s located on Fish Trap Bay on Bonita Beach Road.
So who is this “Tall One” and what does she have to do with this? She liked this mailbox and has an interest in Marine Science. So I decided to tribute this Fridays mailbox series to all things marine and those who enjoy mariney things.
If you’re looking for things to do or a way to get involved as a volunteer, stay tuned about the Oyster rebuild project. I’ll have more detail on how to get involved soon.
Oh, and the mailbox is on Hickory Blvd. on Bonita Beach. It’s one of many, there’s a theme going on there.
Tijuana Flats is In Naples and *Now* Bonita Springs
Yesterday, to do something different I headed out for a bite to eat at a new, local Bonita Springs restaurant and then took in a movie.The new restaurant I *finally* tried was Tijuana Flats.Tijuana Flats is located in Bonita Springs but it might be Estero. It’s right in that gray area to me.At any rate, it’s across the street from the North gate of Pelican Landing near The Colony sales center entrance right on US 41 – Tamiami Trail. (Pssst, there’s a picture of the building so you’ll recognize it when you drive through Bonita Springs.)
I snapped a few photos to add to this page because I thought the restaurant was so darn fun inside. I’ve never been to the other Tijuana flats in Naples, so I had no idea what to expect. When you walk in you order at a counter – after you get done looking around at all the great hand painted art on the walls.After you collect yourself and order you then take a seat and your order is brought to you.
The weather has really been sunny in Bonita Springs and it was super bright out so most of the photos were hard to wrangle, but I saved a few for you.At any rate, you’ll get the gist of how fun the place is. I bet kids would love it.When I was there it was quiet with only a few other tables filled. I had the black bean nachos and ate myself to discomfort. That dish is enough for 3 or 4 people to share.
Tijuana Flats is open for lunch, too. You can get in and out fast if you’re a local looking for a lunch place. I’ll be dragging my crew up there from our Keller Williams real estate office this week, for sure.
The actual address is 8350 Hospital Drive, Bonita Springs, Fl34135 and their phone number is 239-948-8820.
Their official website is: www.TijuanaFlats.comyou at least have to visit to read the “Tijuana Flats Manifesto”. That will at least explain some of the graffiti on the restaurant walls. The hot sauce bar is a work in itself with dozens of sauces with unique names like “smack my sweet ass and call my sally”. It’s worth a read even if you don’t partake in the zip.
I sure hope they participate in the Taste of Bonita Festival !!
Oh, and the movie I ended up seeing was “Wall.e”What a fun flick! We saw it at the Prado a the Regal Cinema Theater. ‘Member that theater?
Today my doorbell rang and there was a familiar face standing there when I opened the door. It was Sandy. Sandy’s had a rough year. He and his wife lost their Bonita Springs home. You see, they got one of those crappy loans that just ballooned to oblivion. I watched the stress and pain on his face grow over months. It was too late to help him by the time he came to me. I didn’t sell him the home or recommend the lender he used.
I tried to get him to refinance with one of my preferred, trusted lenders and he didn’t do it. Long story short his mortgage consumed him and it wasn’t long before he received his notice of default. The lender he has his mortgage with has absolutely no desire to renegotiate his mortgage, interest or principal. He owes about $150,000 on the home. The home has been listed as a short sale for several months and an offer has come in for $40,000 and the bank is seriously considering this offer.
Explain me this: Why would a bank put a family on the street and loose an immediate $110,000 on their investment when they could have just restructured the crappy mortgage the handed the first buyer?
It chaps me that these banks are so flipping arrogant and heartless. My hope is that when these banks ask for a government bail out people like Sandy can come forward and rat them out for what they’ve done to themselves. I hope there are investigations and when these banks are proven to have fraudulently sold property for pennies on the dollar when they had a different choice, they are punished swiftly. They aren’t even trying.
Today, Sandy came to me for a new matter. He is looking for a rental to live in because his family is days away from being homeless. The home he found is perfect and the landlord has asked for a deposit. Unfortunately, many of Sandy’s friends have given their security deposit only to have their rental get foreclosed on just weeks or months after they move in and they’ve lost their money. Sandy wanted me to check the property out for liens or lis pendens that could be an indication of foreclosure or bank action.
The good news is that there are ways to protect your self from loss. Since this home isn’t in an association and we can’t verify that the owners are current on fees or really does own the home we were able to verify that the owner is the true owner at www.leepa.com and then we check the Lee County Clerks office to see if there have been any filings that would be red flags at www.leeclerk.org.
He’ll proceed ahead with the rental because there didn’t seem to be any issues. My advise to Sandy was to negotiate the security deposit to be as low as possible, regardless. Why? Because you never know. I gave him the Clerks website and instructed him to check the status of the home every month when he writes out his rent check to see if anything has changed.
If you think you need to check out your rental home or landlord follow some of the tools and tips here: For Sale While For Rent
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