About the Author:
Robin Sing-Cunningham, is a real estate agent serving Fort Lauderdale and Broward County, Florida. Robin specializes in distressed and bank owned properties in the Fort Lauderdale real estate area.
Robin began her blog recently after over seven years in the real estate business. She brings a unique perspective to her writing as she has worked on the building and development side of the business and has worked extensively with investors on the foreclosure side of the business.
Robin is an avid sport fishing enthusiast and when not selling real estate can usually be found off the coast of Fort Lauderdale looking for that next big game fish.
She's also the wife of one of the hosts of the #1 real estate related talk radio show in America Real Estate Radio USA and occasionally makes appearances on the show to talk about Fort Lauderdale real estate and to lend her perspective on the industry.
You can contact Robin at 954-709-7461 or visit the Fort Lauderdale Real Estate Blog. You can also email Robin at robins@robinashley.com
The Return Of The Foreclosure Machine!
Sounds like a good title for a horror flick doesn’t it? However it’s a reality show!
The Wall Street Journal reported today that the major banks are revving up the big foreclosure machine again.
The brief respite wasn’t due to any change in market fundamentals or because the banks were simply being nice but rather because of an “agreement” … a moratorium if you will on pursuing foreclosures. It seems that the big banks wanted to see what the big plan Obama had for cleaning up this mess, obviously they have lost faith. They’re not alone!
- J.P. Morgan Chase & Co., Wells Fargo & Co., Fannie Mae and Freddie Mac all say they have increased foreclosure activity in recent weeks. Those companies say they have lifted internal moratoriums which temporarily halted foreclosures.
- We’ve talked to reps at GMAC mortgage who have told us to be ready for a deluge of activity in the market as they begin churning forward on the backlog of defaulted loans.
- Citigroup Inc. says it stopped all foreclosures until March 12, at the Obama administration’s request, on loans serviced for Fannie and Freddie. Since then, says a spokesman, it has reverted to our previous business-as-usual.
- Wells Fargo has also increased foreclosure actions since the expiration of its foreclosure moratorium. Both Fannie and Freddie have stepped up sales of foreclosed properties since their moratoriums ended on March 31.
- More than 2.1 million MORE homes will be lost this year because borrowers can’t meet their loan payments, up from about 1.7 million in 2008, according to Moody’s Economy.com.
Obviously all of this additional foreclosure activity will result in loads of additional inventory hitting the market and potentially causing home prices to dip yet again. Darn economic laws of supply and demand!
No, we have not hit bottom yet. Not by a longshot!
So what’s next, another round of handouts to banks? Who knows. What I will say is that this further underscores the feeling that we have been advancing that this is truly the BEST REAL ESTATE MARKET EVER!
Our Buyers are ecstatic. We are seeing banks being EXTREMELY aggressive in pricing and liquidation. We’re taking orders from across the Country and from across the pond from Buyers who aren’t at all afraid of being Capitalists.
If your interested in buying that home that you thought wasn’t affordable or if you are looking to expand your present portfolio of holdings, I can show you deals that will astound you. Each week we are featuring the Fort Lauderdale Real Estate Deal Of The Week and last week’s DOW sold in 8 hours!
Can you believe it? In this market we have homes selling in just hours. A lot of people are whining about the economy and the housing market. I’m tired of hearing it.
As we all prepare for the big rush to the post office for the annual governmental donation, how about participating in your own little “real estate tea party’ and tell yourself that you’re tired of people reaching in your pocket.
The banks need us to liquidate these non-performing assets and the abundance of wealth building opportunities is only going to grow in the coming months. Be prepared, get educated and give me a call if you’d like to exploit this opportunity for all that it’s worth!
What Mortgage Modifications Say About the Housing Market CNBC, on Tue, 16 Feb 2010 11:59:11 -0800CNBC’s Diana Olick has the latest real estate headlines. A new report shows that foreclosures are dropping in January, with CNBC’s Diana Olick. …
Tired of Bailout Nation? FOXBusiness (blog), on Fri, 05 Mar 2010 09:29:55 -0800 Forbes publisher Richard Karlgaard recently wrote a terrific column pointing out the differences in how elected officials have lead the US out of prior …
What Is A Short Sale?
Understanding the Short Sale Process
Do you know how to do a Short Sale? Do you even know what a Short Sale is? Are you in foreclosure and need some advice about how a Short Sale may help you out of a bad situation? Well you are not alone.
I get dozens of emails and calls every week from homeowners who would just like the straight scoop on just what is a short sale. So I decided to record a brief video to help you understand the Short Sale Process. I hope that you find it useful and informative.
There are over a million real estate agents walking the planet and if you ask 10 of them what is a short sale and how do you successfully execute one you’d probably get 10 different answers. Then if you ask another question, that being, how many of them have actually successfully completed one you’d be very surprised.
Most real estate agents only found out about Short Sales in the last 18 months after they became the “in” thing in real estate. Then many agents found out that if they weren’t proficient that they actually can end up in trouble for their blunders and many simply do not have any desire to work in the Short Sale arena.
I’ve been doing Short Sales for a long time. Even BEFORE they became cool. In that time I have learned quite a bit and one of the biggest things that I learned was to surround myself with a good, competent and experienced team of professionals who work together to effect a successful experience for my clients.
Short Sales aren’t tough at all … if you know what you’re doing. We have a very specific system that we have implemented and have been using with great success.
Please take a moment and review the video below and find out for yourself how we approach the Short Sale Process.
If you are in foreclosure or know someone in foreclosure and you would like me to review your situation, I would be happy to take a look at your case and let you know if I feel that you qualify for a Short Sale. I specialize in foreclosures and Short Sales and I am very picky as to who I represent in a Short Sale case. I want to work with people who are committed to the Short Sale Process.
If you think that you are willing to do what it takes to participate in a successful Short Sale, please do not hesitate to email me or call me at 954-709-7461.
Fort Lauderdale Real Estate Agent’s “Deal Of The Week” Program Offers Buyer’s Prize And Cash Incentives On Foreclosures
Fort Lauderdale Real Estate Deal Of The Week!
Fort Lauderdale Real Estate Agent’s “Deal Of The Week” Program Offers Buyer’s Prize And Cash Incentives On Foreclosures
New Deal Posted Every Monday morning through June 30, 2009 on the Fort Lauderdale Real Estate Blog.
Fort Lauderdale, Florida, April 16, 2009 – Beginning this week, the Fort Lauderdale Real Estate Blog will feature the best foreclosure deals on the market in its “Deal Of The Week” program. Read more
Fort Lauderdale Foreclosures
Fort Lauderdale Foreclosures Driving Sales Numbers In Local Real Estate Market.
While it was reported yesterday by the National Association of Realtors that existing home sales were up by 5% in February, it is what is driving those sales that is most interesting. First time home buyers accounted for half of all homes purchased and an astounding 45% of all transactions were distressed properties. Read more
Yet Only 1-2% Of Realtors Have A Blog Presence?
Obsolescence, lack of technological prowess, ignorance, sloth, …why is it that in a sector of the economy that direly needs professional competence that so many in the industry not only lack the skills to succeed, but exacerbate their inefficiency by deliberately choosing NOT to evolve? Just what does it say about the real estate agent “profession?” Just what does it all mean? Read more
Beware The Racist Realtor – Part II
Oh I finally understand the National Association Of Realtors advertising campaign. Silly me, I needed to read between the lines. “It’s a great time to buy a home…if you’re white!” Another agent is charged with being a racist.
The U.S. Department of Housing and Urban Development (HUD) announced today that it has charged Rodney Foreman, a real estate agent formerly employed by Coldwell Banker-Joe T. Lane Realty, Inc., in Jonesboro, Georgia, with racial steering in the sale of homes. Read more
Men Are From Mars, Women Are From Venus And The NAR Is From Pluto
It really makes me wonder just what planet these guys from the National Association Of Realtors (NAR) are from. As a Realtor, I pay dues to an organization that causes my clients and prospective clients to ridicule my chosen profession. It was my belief that these guys were supposed to be supporting me. Wow, was I ever wrong! Read more
“We’re All Communists Now!”
I have to say that I love Mad Money’s Jim Cramer. I love someone who is willing to absolutely speak what’s on their mind and not have to be beholden to anyone. Read more
The Deflationary Crisis And Its Affect On The Housing Market
Earlier today on the Fort Lauderdale Real Estate Blog, I posted a story about deflation and its potential impact on the Fort Lauderdale real estate market. After getting a ton of emails I decided to publish this information on a national forum to get the opinion of agents and consumers nationwide. Read more
The Morality Of Capitalism In The New World Order Of Real Estate
Last October marked the 50th anniversary of a marvelous book that, in my opinion, should be read by all in business or contemplating going into business..even real estate agents…by that I mean those who are actually seeking to run a “business”. Read more
