Fending Off Foreclosure

It is no secret that foreclosures have increased drastically this year as a result of the subprime lending disaster and a lot of people are wondering if they will be next. For many homeowners there may be options, if they know what to look for and where to look.

In the event that you find yourself struggling to make your mortgage payments, and you fear foreclosure may be in your future, the National Foundation for Credit Counseling (NFCC) has suggested a few possible alternatives. These options to fend off foreclosure include:

* Repayment Plan
* Reinstatement
* Forbearance
* Loan Modification

The Federal Trade Commission wants people to know that these alternatives may not work for everyone especially if you are already three or four mortgage payments behind.

For more information regarding the above alternatives visit the NFCC’s Homeowners Crisis Resource Center website. They can also assist you in locating a certified housing counselor to explore your options in an effort to fend off foreclosure.

Moving With Chidlren

Moving can be extremely stressful especially if you have children. It is important to be aware of the things that may be a concern to your children when making a move.

A few areas of concern for children when making a move may include:

• Preschool children tend to worry about being left behind or separated from their parents.
• Kids aged 6 to 12 can be concerned with how their daily routines will be affected.
• Teenagers are concerned primarily with fitting in and having their social life disrupted.

A way to ease these concerns may include:

• Communicating with your child about what the new house will be like.
• Take them on a visit of the new home and neighborhood (if possible)
• If you can, visit the school with your child and meet some of the teachers.

Involving your children in the move can help make the transition easier. Your kids can be a great help to you and the move if you involve them such things as:

• Packing some of their own special belongings, and decorate the box with stickers and markers.
• Make plans together on how to decorate their new room.

There is a lot to consider during a move and by involving your children you just may relieve the stress your children are feeling, reduce your own stress and be able to focus more on other aspects of your move!

A Checklist for Showing Your Home

Fully preparing your home for sale can make considerable difference in the time it takes to sell it. You can help eliminate buyer objections before they arise by making necessary repairs and improvements, some of which are suggested below.
Outdoors
__ Spruce up gardens and lawn; trim shrubbery and replace dead plants.
__ Yard and patio should be neat; outdoor furniture should be clean and in good shape.
__ Clean or paint your front door – remember first impressions last longest!
__ Manicure your front yard, driveway and entry – you can’t sell what you can’t see.

Exterior
__ Check that door numbers, mailbox, and exterior lighting are all in good repair.
__ Touch up with fresh paint as needed.
__ Inspect chimney for cracks or earthquake damage.
__ Repair loose trim, drainpipes and fencing.
__ Clean stains; clean window screens.

Garage
__ Remove clutter; tidy up shelves.
__ Wash floor so it looks clean and spacious.

Living Areas
__ Apply fresh paint as needed…brighten your interiors with neutral-toned paint.
__ Clean draperies and carpets.
__ Replace burned out light bulbs.
__ Clean fireplace, remove smoke stains from wall and mantle.

Kitchen
__ Sinks, appliances and counter tops should sparkle without any clutter.
__ Wax the floor.
__ Clean oven, range and other appliances.
__ Clean tile and grout; replace if necessary.

Bathrooms
__ Clean mirrors, glass, chrome and porcelain surfaces.
__ Replace shower curtain if necessary.
__ Fix any faucet drips or leaks.
__ Clean tile, grout and caulking; replace if necessary.

Closets
__ Doors and drawers should open and close easily.
__ Remove clutter; tidy up shelves and racks.
__ Shoes and clothes should be neatly arranged.

Overall
__ Check the basics around the house. It takes just a minute to check all doors, windows and cabinets to make sure they don’t stick, squeak or are too loose.
__ Clean your furnace & water heater, so buyers know they are looking at a house that has been well maintained.

Renting vs Buying A Home in Florida

There’s nothing quite like a home that you can truly call your own. A place where you can have the gleaming hardwood floors you’ve always dreamed of, a space to cultivate your own vine-lined patio, a way to provide a good neighborhood for your kids to grow up in, and a freedom from the whims of your landlord. These are the images that immediately come to mind, for many of us.

Yet some of the biggest advantages of owning a home are less romantic and more practical – in fact, there are financial advantages to owning a home:

* Tax Deductibility You can deduct the cost of your mortgage loan interest from your state and federal income taxes. Since interest generally will account for most of your payment during the first half of your mortgage, the savings can be significant. Some of your costs at the time of closing (including prepaid mortgage interest) can be taken as deductions on that year’s income tax return, and points paid up front at the time of closing represent additional mortgage interest and may be taken as a deduction.
* Tax Deductibility of Property Taxes You can deduct all of the property taxes you pay.
* Appreciation Potential Real estate is considered a good long-term investment because it usually appreciates in value. The effects of borrowing potential can increase as the value of the home appreciates.
* Capital Gains Exclusion When it’s time to sell your home the amount of capital gains you have to pay is reduced. A homeowner can exclude up to $500,000 per couple if married and filing jointly, or $250,000 if single or filing separately for homes that have been the taxpayer’s principal residence for the previous two years.
* Capital Gain Treatment Congress allows preferential tax treatment on gains from capital assets held for more than one year. This would be important for a homeowner who has gains in excess of the allowable exclusion.
* Principal Accumulation Mortgages are designed to pay the interest for the time that the money has been used, as well as to retire the principal debt over a period of time. This payment plan means that part of the payment each month is for principal accumulation.
* Personal Enjoyment Pride of ownership is a valid reason for wanting to own a home. You can personalize your home while enjoying the financial benefits.

For the best evaluation of your financial situation, consult your financial advisor. He/she will be the most qualified to discuss the financial consequences of a home purchase decision, as well as help you to establish a plan that will achieve your home ownership goals.

Now is the Time to Invest in Real Estate in Sebring, Avon Park & Lake Placid

I just finished two full days at the Allen Hainge Cyber Star Summit in Orlando, July 21-22.  My head is on overload with all the great ideas, latest tech tools, and best marketing ideas for selling real estate.  Some of the top selling agents from around the country attended this event.  Along with all these good tips and talk about the negative media on foreclosures, short sales, high gas prices etc., one of the points agents from around the country kept making is there are great deals just waiting for buyer!  The stock market may be bad.  But now is the best time to invest in real estate for those with money to invest.  Pick up good properties at rock bottom prices.  Invest in your future.

To find out the best deals in Avon Park, Sebring and Lake Placid, give the Cool Team of Maureen and Carl Cool a call today at 863 873-7243 or 1-888-243-2665.  We will be happy to provide a free list of foreclosures and short sales in the Highlands County area by email.   You can request this by emailing me at maureen@ACoolRealtor.com.

June 1 – July 15, 2008 Real Estate Update: Sebring, Avon Park & Lake Placid

June 1 – July 15, 2008  Real estate sales in Highlands County are down a little, but this tends to happen during the summer.  Our real season is January through March with summer being the slowest.  The greatest amount of sales are short sales or bank forclosures.  There are some really good deals out there.  I just saw a home go into the MLS close to Florida Hospital that is a foreclosure for $69,900.  It is a four bedroom home (the garage was converted to the fourth bedroom).  For an investor or first time home buyer, this is a steal.  RE/MAX continues to lead our county with number of sales.  I am fortunate enough to continue being one of the top selling agents in Highlands County.  Finding good buyers to qualify continues to be an issue.  But, the buyers are there!
 
This is the recap of activity for the past six weeks June 1 – July 15, 2008 in Highlands County.
 
Single Family Homes
 
Currently Listed                      1,578
Contingent or Pending             116
Sold   6/1 – 7/15                     77
       Sebring                           42
        Avon Park                      11
        Lake Placid                     23
 
Condos, Villas, Duplex
 
Active                                   357
Contingent or Pending            15
Sold                                     9
 
Mobile Homes – Owned Land

Active                                    134
Contingent or Pending             9
Sold                                      7
 
The majority of the sales were under $125,000, 15 sales were over $250,000 and 5 sales were over $400,000.  The houses that are price to sell are selling.   With all the media about short sales and foreclosure sometimes really good deal of great homes that are in the best condition are missed.  Work with an experienced agent…Call Maureen Cool to find the best deals.  Maureen keeps up with listing daily and knows what is new on the market that is prices right.  Let Maureen help you find your next home.  Now is the time to buy!.  Let the next great deal be yours!  Call Maureen Cool today at 863- 873-7243.

April-May 2008 Real Estate Update Sebring, Avon Park & Lake Placid

This is what is happening in the real estate market in Highlands County for the months of April and May 2008.  Homes are selling, but again it is the lower priced homes under $175,000.  RE/MAX Realty Plus continues to out sell everyone else in Highlands County at more than 2 to 1.  RE/MAX continues to dominate the market which is good news for those listed with us!    The inventory for homes on the market is still at an all time high.  Homes need to be priced correctly and in the best possible condition to compete in this market.
 
This is a quick look at what has happened over the past two months.
 
Single Family Homes April 1 – May 31
 
Currently Listed                       1,659
Contingent or Pending              140
Closings for April & May           151
Sebring                                   75
Avon Park                               24
Lake Placid                             44
 
Condos, Villas, Duplex
 
Currently Listed                       356
Contingent or Pending              11
Closings for April & May            23  
 
Mobile Homes – Owned Land 
 
Currently Listed                         163
Contingent or Pending                13
Closed April & May                     22

RE/MAX – It’s a Small World!

Yesterday I spent a great day in Sarasota with a group of friends and fellow agents from my office, RE/MAX Realty Plus in Sebring.  We went to a RE/MAX Florida Regional meeting in Sarasota.    We started the meeting with lunch at the Columbia Restaurant on St. Armands Key.  I grew up in Tampa and one of my favorite restaurants is the Columbia Restaurants in Ybor City.  So I never miss a chance to eat at any Columbia Restaurant.  So after a wonder Cuban lunch, it was off the Ritz Carlton in Sarasota for an afternoon meeting.  I picked up more good ideas for marketing and reconfirmed RE/MAX is the place to be!
 
While sitting in a large room with lots of agents in the second row.  Liz, the lady behind me, started talking and introduced me to the agent she was with, Donna Toms both from a north Tampa office.  They just joined RE/MAX from Century 21 (good move for them).   Donna said you look familiar where are you from?  I asked “have you been to Sebring?” She said “No haven’t been there.”  Then I said, I grew up in South Tampa.  She said so did I.  Then I asked her where she went to high school she said Robinson High School.  This is where I went.  I asked her when she graduated.  She said 77 (me 73), but said she had an older sister and she would ask her if she knew me.  Well she seemed familiar to me too.  The meeting started.  All of a sudden it hit me.  I turned around and said  “Did you have horses?”  At the same time we both said “Maica.”  Maica was my first horse.  I use to show and ride Quarter Horses.  I sold Maica when I was in high school to Donna Nanz.  So the new Tampa RE/MAX agent is the same person who bought my Maica.  It has been 35 years since I last saw Donna.  She was about 13.  I can remember her riding her horses, with a cowboy hat, hair in a pony tail, and always riding bareback  and with not saddle.  So when someone says, “It’s a small world,” it really is!
 
I wish Donna and Liz much luck with their move to RE/MAX.  I am so happy I attended the meeting yesterday.  It’s always fun to look back on the good old days!  Anyone looking to move to Tampa, I have a good referral person to send you to.
 
Remember for all your real estate needs in Highlands County – Sebring, Lake Placid and Avon Park, give Maureen Cool a call today at 863 873-7243 or 888 243-COOL(2665).

March 2008 Real Estate Update: Sebring, Avon Park & Lake Placid

March 2008 turned out to be a great month for real estate sales in Highlands County.  RE/MAX in Highlands County has 23% of the market share with the next closest office at 6.5%.  As my son would say “RE/MAX Rules!”   In Highlands County, RE/MAX has closed 287 transactions YTD and continues to out sell the next closest office two to one.  I think most will agree this is very impressive especially since we have fewer agents!

This is a recap of what is active on the market and what  has sold during March 2008 for residential sales.

Single Family Homes

Currently Listed               1,676

Contingent or Pending      150

March Closings                71

       Sebring                    37

       Avon Park                12

       Lake Placid               13

Condos, Villas, Duplex

Active                            364

Contingent or Pending      12

March Closings                14

Mobile Homes – Owned Land

Active                             141

Contingent or Pending      22

Closed March                  15

The majority of the sales were under $150,000 and only six sales were over $250,000.  The houses that are price to sell are selling.  I heard on agent descript the market as a beauty contest.  The homes in the best condition, correctly priced win the sale.  A home than needs work — painting, cleaning, new carpet, yard work cannot compete.  It will be Maureen Cool’s pleasure to show you the best of the best for sale in Highlands County.  Let the next great deal be yours!  Call Maureen Cool today at 863 873-7243.

Lake Lotela – Pinecrest Golf Course – Avon Park, FL

One of the best kept secrets in Highlands County is Lake Lotela just southeast of Avon Park and minutes from Sebring.  This beautiful clean, clear sand bottom lake is great for swimming, water sports, boating, and fishing.  The lake is over 800 acres with white sand beaches to enjoy spring and summer afternoons or weekends on the lake.  My husband has caught numerous bass over ten pounds from this lake and you can too.
 
The Lake Lotela area is also home to Pinecrest Golf Club, a Donald Ross designed course built in 1926 and the oldest remaining golf course in Highlands County.   This is a semi-private members owned course.   The greens are great to play and always in good shape.   Because it is such a nice course with a lot of golf history, many retired golf pro’s spend their winters playing this course  I recently sold a villa directly on the course to Ed Abrain former President of Titleist Golf Company.  He likes to  spend his winters here golfing on this fine course.  I once asked Fred Bruno, a winter resident and golf pro from the Long Island Country Club why golfers like Pinecrest so well.  He said it is because of the history and the talent that plays this course.  Here’s a triva many do not know about Pinecrest.  In 1960 the first televised PGA golf tournament was at Pinecrest in Avon Park.
 
If you want to be a part of Pinecrest and the history, check out these great homes that I have for sale directly on the lake.  By the way, old timers in the 30’s referred to this lake as Big Lake.
 
845 Lake Lotela Dr.  This home is located on the south side of Lake Lotela and a short golf cart ride to the club house.  This vintage three bedroom, two bath, two car garage home has beautiful views of the lake and is nestled among the orange trees.  The sun room is a great place to enjoy your morning coffee!
 
606 E. Cornell St.  This wonderful 1926 home has a beautiful wrap around porch.  Old timers in the area said this is one of the original homes on the lake and was once occupied by a Sunday School teacher who use to entertain students on the porches.  The home has been beautifully restored and also has an apartment or guest house.
 
618 E. Cornell St.  This home was build in 1935 and the interior appears to be straight out of Southern Living Magazine.  This 4 bedroom home has a formal living room and dining room, new kitchen, and two decks to enjoy the relaxing landscaping.  The beach is well maintained with a panoramic view of the lake.  There is a huge concrete picnic table down by the water to enjoy Sunday afternoon picnics by the lake.
 
If you would like to view one of these real estate listings and to find out why Lake Lotela is the best kept secret in Highlands County, give Maureen Cool a call at 863 873-7243 to set up an appointment.