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A Basic Primer for Buying a Foreclosure (REO) Property

Posted 08-22-2011 at 05:08 PM by Sunshine Rules

Foreclosures can be great deals for buyers as they are typically priced under the current market. However, not every foreclosure property will be a good deal. So how do you tell the difference between a great deal and a not so good one? Knowledge is a key factor in making wise choices when it comes to REOs.


So what exactly is an REO?

An REO, or “Real Estate Owned” property is one in which a lender or bank has taken title and is now re-selling post-foreclosure....
Real Estate Agent
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Six Questions to Ask Yourself before Buying a Short Sale

Posted 08-08-2011 at 11:41 PM by Sunshine Rules

Considering the number of short sales on the market and the potential for “bargains,” many buyers today are interested in purchasing a short-sale property. However, not all buyers are good candidates for short sales. So how do you know if a short sale is right for you?

Here are six questions to ask yourself if you are considering purchasing a short-sale property:

(1) If you are going to obtain a mortgage, are you pre-approved for a loan?

In a short sale,...
Real Estate Agent
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Views 3622 Comments 0 Sunshine Rules is online now
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It's August - have you received your TRIM notice yet?

Posted 08-06-2011 at 03:25 PM by Sunshine Rules

It’s August - have you received your TRIM notice yet?

Every August the Sarasota county property appraiser’s office sends out TRIM notices to each property owner in Sarasota county.
So what is a TRIM notice? TRIM stands for truth in millage.

Each January 1st the property appraiser’s office is responsible for establishing the Market Value of all properties within the county. After the various taxing and levying authorities (which show up in the ad-valorem section...
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Real Estate Agent
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Old
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Thinking of buying a Short Sale?

Posted 07-30-2011 at 12:02 AM by Sunshine Rules
Updated 08-08-2011 at 11:30 PM by Sunshine Rules

Thinking of buying a short sale?

If you’ve been looking at real estate for sale in our area, you’ve probably seen the term “short sale” on sign banners or in ads for various homes. But what exactly is a short sale?

The terms short sales, REOs and foreclosures can be confusing. Many people refer to all distressed properties as foreclosures. However, the definition of foreclosure is a legal process by which a defaulted borrower is deprived of his or her interest...
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Real Estate Agent
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Sarasota -- like Living in Paradise

Posted 06-24-2011 at 11:09 PM by Sunshine Rules
Updated 08-08-2011 at 11:21 PM by Sunshine Rules (add photos)

Florida has thousands and thousands of visitors each year. Just about everyone has heard of Miami, Palm Beach, the Keys and Tampa. But did you know that an hour's drive south of Tampa you'll find some of the finest beaches in America?

The Sarasota area is known for it's sugar-white sandy public beaches, it's parks and year round outdoor activities. It's also known for it cultural and art offerings, which include the symphony, the opera, ballet, theater and the world famous John &...
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Real Estate Agent
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