Tuesday, October 18, 2011

Bank Short Sale Policy? ROFL!


""Market Value" is a perfect example of the lack of order... and one of the wild aspects of the short sale process. There's no set percentage of market value a bank is willing to accept. Each property, location, bank, and negotiator combination is different; and when you add in investors and Private Mortgage Insurance carriers to the mix,  you have even more chaos to consider."  (excerpted from a Trulia newsletter article, by by Sarah Stelmok)

And this is just the tip of the Titanic sinking sized iceberg.  In the background, I want you to imagine the words and melody of, "Nobody Knows The Trouble I See..."  We here in Flagler County, Florida are awash in a sea of short sales.  You'd think that by now, after five full years of dealing with this beast, the banks would have the deal down.  If you live in Palm Coast, Flagler Beach, or Bunnell (Zip Codes 32137, 32164, 32136, 32110), chances are good that there's a short sale on the market on your street.  Whether you're in the Western County, Seminole Woods, or Hammock Beach - it doesn't matter.  No economic sector is immune, as we have $45,000 short sales and $1,500,000 short sales.  

Here's my beef:  It doesn't matter if it's Wells Fargo, Bank of America, Sun Trust, etc.  There is no discernible policy...  EACH DEAL IS DIFFERENT.  Honestly, it seems as if they make it up as they go.  I will say that the smaller and more local the bank is - the better their policy!  When (and "if") they ever get it together, the short sale disaster will be over in less than two years.

Monday, October 10, 2011

Flagler Economic Advisory Council

(Posted on: October 4, 2011
on www.flaglercounty.org) 

County Seeking Volunteers For Economic Opportunity Council

Government Services Building

(Now that "Enterprise Flagler" is in the history books...)

A crucial part of Flagler County’s new plan for economic development is an eight member board of volunteers to guide a staff of professionals working on economic development in the county.
Volunteers with a background in business and two at large members will meet monthly to help create the next step in economic development for Flagler County. The Flagler County Commission is seeking six individuals with background in one of the following areas: Finance (investment banking or angel investment); agriculture; marketing; real estate (industrial park developer, general contractor, commercial realtor) and high tech business.
Interested individuals are asked to complete an application on line at www.FlaglerCounty.org, under advisory board vacancies. The application and supplemental information can be sent via email, fax or regular mail to Christie Mayer at (cmayer@flaglercounty.org) or call (386) 313-4094. 

Why read "Palm Coast Unplugged?"

"Palm Coast Unplugged" gives a "backstage pass" to locally focused Palm Coast, Flagler Beach, and Ormond Beach, Florida... Real Estate and other useful information:
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