New Port Richey, Florida Real Estate Blog

ARE MORTGAGE LOAN ORIGINATION FEES DEDUCTIBLE?? YES, YES, YES.

Sun, 25 Jul 2010 19:33:59 -0400

Via Lenn Harley, Real Estate Broker, Virginia & Maryland (Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate):

ARE MORTGAGE LOAN ORIGINATION FEES DEDUCTIBLE?? YES, YES, YES.

YOU'D BE SURPRISED HOW EASY THE IRS WEB PAGE IS TO READ.

Agents and loan officers sometimes advise buyers and sellers about the deductability of the certain items on the HUD-1.

For instance, home buyers often ask their real estate agent or loan officer questions about detectability of closing costs. Sellers ask too, but not as often. Buyers often depend on the detectability of mortgage interest to bridge the gap between renting and buying. Clearly, the higher the income, the more valuable the tax deduction is to a home buyer.

DON'T GIVE TAX ADVICE. Send that buyer to the IRS web page and let them read the section on HOME MORTGAGE INTEREST AND POINTS. However, many agents and loan officers make the mistake of telling buyers that the discount point is deductible but that the "origination fee" is NOT. WRONG!!

THE ORIGINATION FEE or point IS DEDICTABLE. That's not Lenn's advice. That's from the IRS.

Read the IRS Instructions for Points.

http://www.irs.gov/publications/p936/ar02.html#en_US_publink1000229936

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Points

The term "points" is used to describe certain charges paid, or treated as paid, by a borrower to obtain a home mortgage. Points may also be called loan origination fees, maximum loan charges, loan discount, or discount points (emphasis added).

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

ATTENTION HOME BUYERS! Don't ask your real estate agents or loan officer for tax advice. Consult your accountant or the IRS web page. It's in plain English and very helpful.

Let's get this matter cleared up once and for all. A POINT IS A POINT IS A POINT.  A point is ONE PERCENT of the loan amount. Call it a butterfly or a shark. An Origination Fee is a POINT.

ARE MORTGAGE LOAN ORIGINATION FEES DEDUCTIBLE?? YES, YES, YES.

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.

_______________________________________________________________________________________________________

Want to learn more about Loudoun County, VA? Join Loudoun County, VA on Facebook!

Search Real Estate Listings in MLS like a Realtor

↑ Grab this Headline Animator

All entries on this blog, unless noted otherwise, is the copyrighted content (2009-present) of Daniel J. Hunter, REALTOR®, and is believed to be true and factual, but it is not guaranteed or warranted.

All information should be independently verified.

My other Facebook Fan Pages include:

I am sorry, but you are my Customer not my Client

Thu, 22 Jul 2010 23:15:05 -0400

I am sorry, but you are my Customer not my Client

Most of my past transactions I have been a single agent representing a client in a transaction with

Fruits Real Estate Services, Inc.

The obligations I had to a client were

Loyalty
Confidentiality
Obedience
Full Disclosure
Dealing Honestly & Fairly
Accounting for all Funds
Skill, Care & diligence in the transaction
Disclosing all known facts that materially affect the value of residential real property and are not readily observable.
Presenting all offers and Counteroffers in a timely manner, unless a party has previously directed the licensee otherwise in writing; and

However in Florida Real Estate Salespeople & Brokers are by default Transaction Brokers.

The obligations I have now to a customer are:

Dealing Honestly and fairly;
Accounting for all funds;
Using skill, care and diligence in the transaction
Disclosing all known facts that materially affect the value of residential real property and are not readily observable to the buyer
Presenting all offers and counteroffers in a timely manner, unless a party has previously directed the licensee otherwise in writing;
Limited confidentiality, unless waived in writing by a party. This limited Confidentiality will prevent disclosure that the seller will accept a price less than the asking or listed price, that the buyer will pay a price greater than the price submitted in a written offer, of the motivation of any party for selling or buying property, that a seller or buyer will agree to financing terms other than those offered, or of any other information requested by a party to remain confidential; and
Any additional duties that are entered into by this or by separate written agreement.

Limited representation means that a buyer or seller is NOT RESPONSIBLE for the acts of the licensee.

Additionally, parties are giving up their rights to the undivided loyalty of the licensee. This aspect of limited representation allows a licensee to facilitate a real estate transaction by assisting both the buyer and the seller, but a licensee will not work to represent one party to the detriment of the other party when acting as a transaction broker to both parties

So what does this all mean. In past years I almost exclusively acted as a Single Agent working for my clients best interest

My new firm Prudential Tropical Realty does not allow single agency. And just why would they do that?

Limited representation means that a buyer or seller is NOT RESPONSIBLE for the acts of the licensee. It protects you from culpability from the actions of your REALTOR®.

Search Real Estate Listings in MLS like a Realtor

↑ Grab this Headline Animator

All information should be independently verified.

My other Facebook Fan Pages include:

Top 12 Health Tips for Busy On-The-Go Real Estate Professionals

Thu, 22 Jul 2010 21:48:42 -0400

Via Lauren Bernstein (ActiveRain):

For five years I worked in outside sales and spent half the month on the road. A typical month included 1,500 miles behind the wheel and 5,000 miles in the air. Even though I was excelling in my field, I was constantly tired, sometimes moody and always craving sugar (I became wildly addicted to homemade yogurt covered pretzels and "energy" bars). I fell out of balance and I knew that something had to change.

It is easy to neglect our own health and well being with life's many distractions: work, family, friends, balancing schedules and numerous commitments. Staying healthy can be challenging. Through real experience, I learned that small steps really do make a difference. I committed to one of the suggestions below and within a day or two noticed a change: I felt a bit more energized and "balanced." To strive for improved health and balance, I encourage small life changes using the guidelines below.

Top 12 quick health tips to find and maintain balance for busy on-the-go real estate professionals:

focus on yourself - take time for yourself: take a bath, walk your dog, read a book, take a yoga class, listen to music, take a drive, go for a run, sing in the shower, get a massage, walk through the park. Take the thing that you enjoy and indulge! You deserve it!

exercise - it gets our blood flowing and re-energizes us. Even if you only have five minutes per day, use it! Take a brisk walk around the block, run up and down the stairs, do sit ups, push ups or jumping jacks, dance, jump rope...just move!

drink water - hydration is so important for our cells and our skin and is critical for proper body and brain functioning. We need to stay hydrated - if you need to take baby steps, try increasing your water intake slowly. Drink one glass before each meal. You'll feel amazing in no time!

eat good food - we all know that whole foods are best for us. Try to avoid processed foods (anything packaged), sodas, refined sugar and pastries. Avoid hydrogenated oils and trans fats like the plague.

sleep - if you're short on time and the choices are sleeping, eating or exercising, sleep! Sleep helps restore your cells and even boosts your metabolism. Sleep helps increase your focus and response time and can help prevent aging. It also lowers the risk for high blood pressure, heart disease and other medical conditions. Get your zzzs!

breathe - deep breathing is a great way to regulate your stress levels and reset your body and mind connection. One of my favorite techniques is Dr. Andrew Weil's 4-7-8 Breathing Exercise. I use this often - on planes (taking off isn't my favorite) or when I'm feeling overwhelmed. It works!

manage your time - find tools that help you save time and be more efficient: real estate technology tools like CRMs, electronic document management and virtual assistants. Delegate your tasks and save time!

take naps - studies show that an afternoon power nap of 10-20 minutes can help boost energy, mood and mental performance and is great for stress management. Find a bed or couch and embrace your own personal siesta.

get a massage - massage is great for blood flow and circulation, promoting energy movement, and reseting your alignment. There are fancy spas which can be pricey or you can choose a more affordable option like Massage Envy or a local massage school. Try to schedule one massage per month. It is well worth it!

smile - smiling really is the best medicine. The next time you aren't feeling great, smile. It is hard to feel bad when you are smiling. Smiles are a great way to connect with others and brighten a stranger's day.

BYOF - Bring your own food - when traveling, plan ahead and bring your own food. If you're in the car all day, pack a lunch and healthy snacks like raw nuts, carrot sticks, sugar snap peas, apples, bananas, etc. When hunger strikes, you'll be prepared with healthy options.

cook - a home cooked meal tastes better and is healthier for your body and soul! The time, pride and care you put into cooking comes out in the food. Cook with others or for others and make it a special event.

I challenge you to choose one tip and try it today. Try it on your own or better yet, find a buddy and do it together. Stick to it, share it, even blog about it. Then add one more tip when you're ready. To be healthy and stay healthy we must exert a little effort, but it is well worth it. The benefits are priceless.

Images courtesy of SuperFantastic and Brunna Peretti Loureiro

Search Real Estate Listings in MLS like a Realtor

↑ Grab this Headline Animator

All information should be independently verified.

My other Facebook Fan Pages include:

Thomas Jefferson - Revisited

Fri, 09 Jul 2010 20:14:57 -0400

I am so glad to re-blog this fantastic read.

please leave comments on original blog at the link immediately below

Via Louis Esbin (Law Offices of Louis J. Esbin):

Back in February 2009, Congress had the opportunity to pass sweeping bankruptcy reform that would have allowed judges to modify the terms of mortgages on home residences. The House passed the legislation, but the Senate never took up the debate and the amendments died! At the same time, the financial industry was bailed out, along with the insurance and auto industries; all in the name of too big to fail. But, millions of Americans have seen their lives and families destroyed in the interim. All in the name of preserving the financial industry.

Jefferson's words are as true today as they were in 1802: "I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people even allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake up homeless on the continent their fathers conquered." Thomas Jefferson, 1802.

They are that much more prophetic as it relates to the power of banks today upon our elected officials through lobbying and political contribution, and when coupled with those of the Founding Fathers in the Declaration of Independence, should give each of us cause to be concerned that: "Governments are instituted among Men, deriving their just powers from the consent of the governed, – That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shown, that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security.”

There is a Constitutional mandate that Congress enact uniform laws on Bankruptcy (and Immigration). The first bankruptcy laws were enacted in 1800 and repealed in 1803, coincidentally during Jefferson's term in office. Several other enactments followed in response to interim economic panics prior to the enactment of the 1898 Act, followed by the 1978 Code, and the 2005 BAPCPA.

Now that the financial industry seems to be bouncing back nicely, is it time to revisit bankruptcy reform to give the average American family an equal break?

Search Real Estate Listings in MLS like a Realtor

↑ Grab this Headline Animator

All information should be independently verified.

My other Facebook Fan Pages include:

Tolerance to Intolerance

Thu, 08 Jul 2010 23:22:08 -0400

Sometimes somebody from the outside can paint a better picture than a native can. Jon Gets it, and America is Better for having him as an immigrant, as well as all the others like him. Take a step back, and soak in the Perspective from 'the other side'

I would also recommend subscribing to his blog. He is an ActiveRain Ambassador also. You should follow as many as you find.

Direct all comments to his original blog please. Link is immediately below this comment

Via Jon Zolsky, Daytona Beach, FL. FunCoast Realty, 386-405-4408:

My son was good at drawing cars. He had (and still has) a knack for that. I remember when he was quite little, we caught him selling the beautiful pictures for 1 ruble.

We were terrified. We told him that we lived in the Soviet Union and Soviet People did not do it. That he should never ever-ever do it again. Want to give it to someone, fine, but he could not take money.

Money was when you go and work, and they pay you whatever it is. And not any other way.

Americans consider tolerance as a very important trait, and apply it religiously to issues in this diverse society. Tolerance is of paramount importance as it is the key for inclusive society. We may be different, but we need to be tolerant to others. In a multicultural democratic environment tolerance is the foundation of building that mutual respect. But this is an American way. And it stops right here. It is not universal.

I lived in the Soviet Union for 40 years, and I remember myself from a very early age. What was the most important thing in our lives? INTOLERANCE. We were taught to be intolerant. Intolerance was the key to success in life, to the very survival.

In Soviet propaganda intolerance was the key element. We actually took the pledge to be intolerant to everything that was against our ideology, values, and beliefs. And it was not peaceful. Intolerance was supposed to be active. It was despising Western influences that you could trace in some writings of even famous writers, and their books disappeared from the shelves, and they were ostracized in the media, jailed (Joseph Brodsky), exiled (Alexander Solzhenitsyn), sent to oblivion (oh, so many of them), intolerance to fashion, which always was perceived as the influence of rotten West and there would be concerned citizens with scissors cutting too narrow pants, or chasing girls in mini-skirts, or the dean at the university chasing boys and cutting hair if he thought it was too long…

Socialist propaganda was based on the premise that we would have lived in Communism, which was the ultimate dream and goal, if not for some external enemy, be it United States, Capitalism, bad weather (hence food shortage), but it was always something external, that we needed to defeat. That something was the enemy. And we learned to hate the enemy. And we learned to be intolerant to everything the enemy was representing.

Iran’s political culture is also based on intolerance. It is not inclusive, it is exclusive, Same as the political culture of so many countries around the world.

The world largely is based on intolerance, it is not inclusive. For people from many other cultures American tolerance is a sign of weakness. They came with the notion of what is good and what is bad, how people should think, how they should dress, what to eat, and they tend to preserve many of the same beliefs even after years on American soil.

And we expect to have a miracle result from people living in Syria, Iran, North Korea? That they suddenly embrace the Western culture, embrace freedom, democracy?

You can bring the freedom and equality to women in Iran. But do not be surprised if you meet the strongest resentment from the very women you came to free.

For so many in the world we are the enemy. Rich enemy. We can bring money, food, supplies, water, build homes, and by doing all that we will not earn love from the world.

Heck with love. Can we get respect? Yes. By being strong and decisive power. We are too concerned about what the world thinks about us. We shouldn’t. We set the rules, and we enforce them. They will call us gendarme. Call me a pot, just do not put me on the stove.

* Images courtesy of Flickr.com under Creative Commons license

Search Real Estate Listings in MLS like a Realtor

↑ Grab this Headline Animator

All information should be independently verified.

My other Facebook Fan Pages include:

May 2010 West Pasco County, Florida Distressed Active Adult Communities Market Report

Mon, 05 Jul 2010 20:07:02 -0400

May 2010 West Pasco County, Florida Distressed Active Adult Communities Market Report

I am actually surprised by a couple of things in this report. For one thing, there seems to be a decent amount of sales considering that Snow Bird Season has ended.

Also despite the Post-Snowbird season anemic numbers, There also appears to be just under one years inventory in the Distressed Active Adult market, just like the rest of the market.

Another surprise was the low amount of Distressed Properties on the market percentage wise. The broader market of Actives & Solds typically are one third Distressed Properties, whereas on 5% is distressed in Active Adult Communities.

Unlike almost every other Distressed market chart I generate, Distressed Properties have a consistently lower portion of the total market. Unlike so many other reports where Active distressed accounts for about one third of Actives. But it usually reverses for properties under contract, yet it returns to one third of solds are Distressed Properties

Search Real Estate Listings in MLS like a Realtor

↑ Grab this Headline Animator

All information should be independently verified.

My other Facebook Fan Pages include:

What Active Adult Communities are the Buyers Going to in West Pasco County Florida in 2010?

Mon, 05 Jul 2010 19:25:33 -0400

What Active Adult Communities are the Buyers Going to in West Pasco, County Florida in 2010?

257 Active Adult homes sold in the first half of 2010. That is just over 1.4 per day, which is not that impressive, but given the unknown future I can certainly understand why people are not retiring, much less relocating. The good news is that, unlike the rest of the market only 5% of the Active Adult Communities are Distressed home sales. The overall market has about 33% distressed properties, both actives and Sold properties.

Distressed property means that a home is in some form of foreclosure. It is either:

pre-foreclosure
in foreclosure
Short Sale (selling a home for less than is owed on the mortgage)
bank owned (REO=Real Estate Owned)

Without knowing which path the country is headed, it is hard to plan for the future. The same thing applies to business' and new hires. How can they invest in new employee's if they do not how much it will cost to hire that new employee. It is much more difficult than just what will be her/his hourly pay/salary.

The most popular Active Adult Communities to buy into in Western Pasco County are:

Timber Oaks 34 units Surprised as the golf course is closed and for sale = uncertainty
Heritage Pines 26 units New(er) US Home/Lennar Gated Golf Community
Heritage Springs 25 Units New(er) US Home/Lennar Trinity Golf Community
Heritage Lake 24 Units
Summertree 14 Units
Timber Greens 12 Units
Ponderosa park 8 Units popular well maintained Mobile Home Community

Search Real Estate Listings in MLS like a Realtor

↑ Grab this Headline Animator

All information should be independently verified.

My other Facebook Fan Pages include:

Foreclosure Deficiency Judgment Compared to Deed In Lieu and Short Sale Scenarios

Mon, 05 Jul 2010 11:54:26 -0400

Laid out very VERY well. Take your time and digest

as usual, please direct all comments to Richards post by clicking on the link immediately below.

Via Richard Zaretsky, Florida Real Estate Attorney (Richard P. Zaretsky P.A. ):

We get so many questions about what is a DEFICIENCY JUDGMENT and how it differs from other possibilities including DEED IN LIEU OF FORECLOSURE or SHORT SALE. Recent blogs and Broker Bryant provided a request that I write a detailed article explaining and differentiating these three items.

This article is written based on Florida law, but most state laws are similar. Be sure to contact your own attorney for your state laws, and always consult your own attorney on any legal decision you need to make. This article is for information purposes and is not specific advice to any one reader.

As a suggestion, for information on the basics of a deed in lieu of foreclosure and short sale, see SHORT SALE PRIMER - LAWYER DISCUSSION OF THE SHORT SALE EVOLUTION

Let me clarify an important issue that will have meaning later. A "Mortgage" is NOT the obligation to pay the bank. The obligation to pay the bank back the money it loaned along with interest is called the "Promissory Note". The bank makes two types of loans. Secured loans are when the bank wants the Promissory Note to be collateralized with something of value. In real estate that "something of value" is usually a "Mortgage" and it collateralizes or secures the Promissory Note with the house or other real estate. So when we say only the word "Mortgage", technically you are referring only to the security document and not the Promissory Note. Likewise when we say the words "Promissory Note", we are referring only to the obligation to repay the bank.

THE LAW OF MORTGAGE FORECLOSURE:

A mortgage foreclosure (some incorrectly call it a "Lis Pendens") is filed by the lender when the Promissory Note that is secured with a Mortgage on some real estate (usually the home) has not been paid on time (the "default").

If there was only an "unsecured" Promissory Note and there was no Mortgage, the suit would not be called a "mortgage foreclosure" because it would only demand payment of the Promissory Note and then the judge after hearing the evidence, would likely issue a Final Judgment against the borrower and in favor of the bank for the amount of the unpaid Promissory Note along with accrued interest, late fees and court costs and attorney fees. The Final Judgment would also be entitled to interest (in Florida that rate is now 6% a year) until the Final Judgment is paid in full.

A mortgage foreclosure is actually a four step process.

Step One: The first step is to file suit (called the "Complaint") on the non-payment of the Promissory Note. (Yes, there are other reasons for a foreclosure suit to be filed, like an unauthorized transfer of the real estate, or non-payment of the real estate taxes, but we are going to focus on not paying the Promissory Note). An action (the suit) is filed at the courthouse and it consists of 3 documents. The first document is a Summons, which directs you to answer the Complaint. The second document is the Complaint, which describes why the bank is entitled to the relief it is asking for - the payment on the Promissory Note. The third document is the Lis Pendens, which puts the public at large on notice (since the lis pendens is filed in the public records where the property is located) that anyone dealing with the property should know that a claim has been made against the property in the Mortgage. (Lis Pendens literally means "pending litigation" and is one of those fancy Latin words that we lawyers banter about).

The Complaint will describe that there was a Promissory Note signed by the borrower to evidence that it was to repay the bank the money, and that to induce the bank to make the loan the borrower also signed a Mortgage on some real estate that promised that if the Promissory Note was not paid, the real estate could be sold and the proceeds would be used to pay the Promissory Note. It will also say how much is unpaid and what additional money the bank may want for the non-payment of real estate taxes, for example. It will finally make a "demand", which will ask that if the borrower does not make payment on the Promissory Note to the bank, then the real estate should be sold under court supervision at a public auction, and if there is insufficient money bid for the real estate, the court should give to the bank a judgment for the shortfall (the "Deficiency Judgment"). A quick note to those that subscribe to the foreclosure defense analysis that they won't have to pay the bank - I suggest you read FORECLOSURE DEFENSE FALLACY.

Step Two: After statutory time periods have run (for example, 20 days to answer the Complaint, the bank can more for a final judgment. This is usually accomplished (in Florida) with a Motion for Summary Judgment, or similar name. Another 20 days must elapse before this hearing can take place, once the motion is filed. In reality (at least in Palm Beach County right now) that time period can be several months before a court date on the Motion for Summary Judgment can take place.

At the Motion for Summary Judgment hearing the bank must prove that there is a valid Mortgage securing a valid Promissory Note and that it is unpaid. The judge will then issue a Final Judgment of Foreclosure that says (1) if the borrower does not pay the bank the amount the bank proved is due to the bank within usually 30 days, the real estate is ordered to be sold by the clerk of the court to the highest bidder, and if the highest bidder bids less than the amount due to the bank then the bank can come back to court and request a Deficiency Judgment. It is important to note that the Final Judgment of Foreclosure is NOT a money judgment against the borrower! However, depending on step three below the bank can move to obtain a money judgment later on. IMPORTANT note to borrowers who think that THIS is the hearing when you can go and tell your story to the judge. WRONG!!!!!!! The Summary Judgment hearing takes no testimony in open court. It is based only on what is in the court file - nothing more. It is a hearing based on technicalities and strict rules. I can practically guaranty you that if you or your attorney have done nothing up to the hearing in the case to establish why the judgment can not summarily be granted, unless the lender's attorney is totally asleep, the Final Judgment for Foreclosure will be granted.

Step Three: Assuming that the borrower has not paid the bank to the bank's satisfaction during that 30 day period, the public sale (the "foreclosure sale") will occur. It is conducted by the Clerk of the Court and it usually occurs "on the courthouse steps", but more usually in a courtroom or meeting hall or even in a large hallway in some courthouses and more recently, on the Web. The property is announced and bidding starts at $100 and goes up from there. The bank is able to bid for the property and it will do so to "protect" the collateral up to the amount (and usually beyond) the bank has determined the property is worth. Usually the bank will bid up the amount of the judgment it received from the judge. More often than not the property gets sold to the bank for a mere $100 and there are no other bidders at the foreclosure sale.

Step Four: I am now again making as assumption. The assumption is that the bank ended up with the property at the foreclosure sale by bidding one hundred dollars. In that event the borrower still owes the bank money to satisfy the promissory note. The amount of the remaining balance is what is in question.

To figure get the balance of the monies the bank must go back to court to ask the court to award it a "Deficiency Judgment". The amount is what is in question and the amount is measured using various rules. In our example the bank bid $100. The court is not going to say that the house was worth $100 and $324,900 is still owed. For our assumption and as an example we will say that the property is worth $200,000 and the foreclosure judgment is for $325,000. That means the court will ask for an appraisal of the property as of the day of the foreclosure sale and the judge will likely give it that value. So it will be the appraisal value less the judgment amount which will equal the Deficiency Judgment. If the appraisal is $250,000, the Deficiency Judgment would be $75,000. Now if there was real bidding at the foreclosure sale the judge could consider that bidding and instead adopt the selling price under the competitive bidding process that occurred at the foreclosure sale. Then the Deficiency Judgment would be the difference from the foreclosure judgment and the winning bid amount. If the competitive bid was $240,000, then the Deficiency Judgment would be $85,000.

A little issue that comes up is how long the bank has to get the deficiency judgment. The Florida Statute of Limitations (time to enforce) the Promissory Note is 5 years from the time it went into default. There is also a rule on how long a plaintiff can keep open a lawsuit that has no activity. That rule says after 1 year of inactivity, the lawsuit can be dismissed by the court. The rule is referred to the "Failure to Prosecute Within One Year" rule. IF the court dismisses the lawsuit after one year and before the bank asks for a deficiency judgment, it could be argued that the bank cannot again seek to enforce the promissory note.

Florida courts have noted that a claim for deficiency in a foreclosure action does not accrue until the foreclosure sale has occurred. Thus the five year period starts at the time of the foreclosure sale (not the time of the default). The courts have not addressed the one year "failure to prosecute" issue, but it is likely that a decision on it would consider that a deficiency action is separate and could be filed as new action based on the accrual of the event at the time of the foreclosure sale that resulted in the deficiency. (See Chrestensen v. Erogest, Inc., 906 So. 2d 343 (Fla 4th DCA 2005). Recent cases now provide that notwithstanding that the court could dismiss the foreclosure case after one year, that dismissal would not bar the filing of the claim during the 5 years after it accrued.

DEED IN LIEU OF FORECLOSURE

Almost every client I meet with first starts out wondering if they should "just give the property back to the bank". This is also called "Buy and Bail" and "Strategic Default" and "Walking Away from the Property". I tell them first off that, "it ain't so easy."

A Deed In Lieu of foreclosure has many prerequisites. The first is that the property cannot reasonable expect to be able to be sold within a reasonable period of time. The second is that the bank to receive the Deed In Lieu must be the only lienor. This usually means there can be no second mortgage and the borrower and property must be clean of any claims or judgments from other creditors. In other words the title to the property must be "clean" except for the bank's mortgage. (Note that if the bank with the first mortgage also has the second mortgage or HELOC, the Deed In Lieu is still a possibility. Indeed, some first lenders will have their counsel seek to negotiate with the 2^nd lenders even if it is a different lender, to get the deed in lieu of foreclosure accomplished.)

The issue remains - what becomes of the disposition of the Promissory Note? There is documentation in a Deed In Lieu that is very important to the borrower. This documentation can be an agreement in conjunction with the deed to the bank, or it can be written right into the deed to the bank from the borrower for the subject property. In any event the document(s) must provide that as part of the consideration for the giving the property to the bank the Promissory Note is satisfied in full. If this language is included, then there is no further liability of the borrower to the bank and no lawsuit to enforce the Promissory Note can occur. Most of all, banks don't like to have to sell your property so they don't like taking property to have to manage and sell. It is expensive to take in your property and unless your property is worth more than the amount the bank loaned to you, the bank is likely to only loose more money than if you sold it for them. That is why they generally prefer to do short sales rather than deeds in lieu.

Short Sale Negotiation:

A short sale by its nature does not encompass a lawsuit to foreclose the Mortgage or a lawsuit to enforce the Promissory Note, and that is one of the primary advantages of this method of loan workout. On the other hand, there is often a Mortgage Foreclosure Suit already in progress when a short sale is attempted to be negotiated. [It is important to realize that a short sale "attempt" does NOT stop a Mortgage Foreclosure Suit! The bank may or may not instruct its attorneys to delay acting on certain aspects of the suit - usually getting the Foreclosure Judgment or if one is issued, then delaying the actual conducting of the Foreclosure Sale. Don't assume anything positive about the foreclosure suit unless you have it in writing from the lender]. See the article: FORECLOSURE EXPRESS VS. LITTLE ENGINE THAT COULD

The short sale does often times result in a "Release" of the lien of the Mortgage but not a "Cancellation" or "Satisfaction" of the Promissory Note. It is this remaining financial obligation that is the crux of so much discussion about "1099's" and forgiveness of debt. Sellers Always Have Income is a comprehensive article on the subject and also deals with recent legislation on how income does not have to be recognized.

Unless a release or satisfaction of the entire Promissory Note or in the case of a property with more than one loan, then each Promissory Note is obtained, there remains the ability of the bank or banks to sue the borrower for the balance of the unpaid promissory note. In the case of a 2^nd Mortgage, this might be the entire amount of that loan if the 2^nd Mortgage bank took nothing so the short sale could succeed.

The documentation regarding a short sale is very important. The borrower needs to know what further obligations could be in the future as a result of the short sale. Like the Deficiency Judgment statute of limitations, the balance of the Promissory Note must be enforced within 5 years of the default or the demand for payment by the bank.

If the unpaid balance of the Promissory Note is enforced by the bank, then it can file a lawsuit against the borrower (if done within that 5 year period which start time could be as early as the declared default if there is no foreclosure sale) and the result will almost always be a Judgment for the payment of money in the amount of the unpaid portion of the Promissory Note. Many persons that short sell and do not get a release of the Promissory Note utilize an offer to pay back all or a portion of the Promissory Note balance with a new unsecured promissory note. This new promissory note replaces the old Promissory Note. The new promissory note can also be enforced by the bank in the same way as the old Promissory Note, but the time to enforce it will be based on whatever new default might occur if the terms of the new promissory note are not followed by the borrower. For a specific article on Short Sales, see Back to Basics - a Review of Short Sales.

The Second Bite from the Apple

An interesting twist is being used by the banks. They take the now unsecured remaining balance of the promissory note, or the new negotiated promissory note, and sell it to investors for 5 to 10 cents on the dollar. Then the new investor tries to collect on the promissory note. This is mentioned in my article on Negotiated Paybacks. Obviously this represents an opportunity to negotiate the remaining balance a borrower may have on the old loan - sort of a second bite at the apple.

Opportunity abounds for finding solutions for those that need a short sale or find themselves in a foreclosure action. No solution is a panacea for the borrower's troubles, but the solutions present an ability for a borrower to make a bad situation a little less bad, and it gives some control to the borrower over what is otherwise a nightmarish situation.

Copyright 2010 Richard P. Zaretsky, Esq.

Be sure to contact your own attorney for your state laws, and always consult your own attorney on any legal decision you need to make. This article is for information purposes and is not specific advice to any one reader.

Richard Zaretsky, Esq., RICHARD P. ZARETSKY P.A. ATTORNEYS AT LAW, 1655 PALM BEACH LAKES BLVD, SUITE 900, WEST PALM BEACH, FLORIDA 33401, PHONE 561 689 6660 begin_of_the_skype_highlighting email: RPZ99@Florida-Counsel.com - FLORIDA BAR BOARD CERTIFIED IN REAL ESTATE LAW - We assist Brokers and Sellers with Short Sales and Modifications and Consult with Brokers and Sellers Nationwide! Shortsales@Florida-Counsel.com New Website www.Florida-Counsel.com.

See our easy to understand articles at:

TABLE OF CONTENTS - SHORT SALE AND LOAN MODIFICATION ARTICLES

Search Real Estate Listings in MLS like a Realtor

↑ Grab this Headline Animator

All information should be independently verified.

My other Facebook Fan Pages include:

BANKS BEGIN TO GO AFTER DEFICIENCY JUDGMENTS - FANNIE MAE POINTS THE WAY

Sat, 03 Jul 2010 19:28:00 -0400

Please direct all comments to the original poster.

Via Richard Zaretsky, Florida Real Estate Attorney (Richard P. Zaretsky P.A. ):

Earlier this week I wrote about lenders taking the next step after a foreclosure. Foreclosures happen from borrowers that "walk away" from their upside down valued properties, whether because of job loss, other expenses more important than the mortgage payment, or just a strategic default. You can find the other article at MOTION FOR DEFICIENCY JUDGMENT - FORECLOSURE CONSEQUENCES.

An alarming event occured after I wrote that article. In the past, there has been a pretty heated argument about whether the mortgage lenders are going to move on their ability to pursue deficiency judgments in foreclosure actions. Many people say that it won't happen. I even gave a seminar on foreclosures with a Florida judge that the judge said that she did not seen any deficiency judgment requests.

In the earlier article I showed a Motion for Deficiency Judgment from First Bank. First Bank is big in Colorado and was a national lender, but it is not as big as the lender that filed the latest deficiency judgment that came into my office - Wells Fargo.

Now some explanation - Wells Fargo is not the owner of the note in this most recent deficiency judgment case - it is FANNIE MAE.

Fannie Mae released news late last month that it would take certain action on borrowers that walked from their properties in strategic defaults, one of the actions being they would blacklist the borrower for future loans for 7 years. Filing for a deficiency judgment is the next action it will take. Its announcement on June 23rd said, "Fannie Mae will also take legal action to recoup the outstanding mortgage debt from borrowers who strategically default on their loans in jurisdictions that allow for deficiency judgments. In an announcement next month, the company will be instructing its servicers to monitor delinquent loans facing foreclosure and put forth recommendations for cases that warrant the pursuit of deficiency judgments".

This announcement makes the call that many have been making to distressed homeowners only more important - DON'T PUT YOUR HEAD IN THE SAND THINKING THIS WILL ALL PASS TOMORROW - BECOME INVOLVED IN A SOLUTION TO YOUR PROBLEM -

Distressed borrowers should call their lender - or better yet - speak to a knowledgeable real estate attorney that looks for solutions (if the real estate or other attorney is all about keeping you in your house by dragging out the foreclosure, you are not speaking to an attorney looking to find a solution for you!

Copyright 2010 Richard P. Zaretsky, Esq.

Be sure to contact your own attorney for your state laws, and always consult your own attorney on any legal decision you need to make. This article is for information purposes and is not specific advice to any one reader.

Richard Zaretsky, Esq., RICHARD P. ZARETSKY P.A. ATTORNEYS AT LAW, 1655 PALM BEACH LAKES BLVD, SUITE 900, WEST PALM BEACH, FLORIDA 33401, PHONE 561 689 6660 begin_of_the_skype_highlighting 561 689 6660 end_of_the_skype_highlighting RPZ99@Florida-Counsel.com - FLORIDA BAR BOARD CERTIFIED IN REAL ESTATE LAW - We assist Brokers and Sellers with Short Sales and Modifications and Consult with Brokers and Sellers Nationwide! Shortsales@Florida-Counsel.com New Website www.Florida-Counsel.com.

See our easy to understand articles at:

TABLE OF CONTENTS - SHORT SALE AND LOAN MODIFICATION ARTICLES

Search Real Estate Listings in MLS like a Realtor

↑ Grab this Headline Animator

All information should be independently verified.

My other Facebook Fan Pages include:

MOTION FOR DEFICIENCY JUDGMENT - FORECLOSURE CONSEQUENCES

Sat, 03 Jul 2010 19:19:11 -0400

Great info, but please direct all comments to Richards Blog

Via Richard Zaretsky, Florida Real Estate Attorney (Richard P. Zaretsky P.A. ):

Today I received a call from one of my blog readers asking me for help with a pleading he received months ago, that is now being scheduled for a hearing in August. This is a prime example of why Strategic Defaults or just walking away from a property can be so dangerous. The pleading is a Motion for Deficiency Judgment from a foreclosure judgment and sale that occurred but was (like most other foreclosure sales) acquired by the lender for a nominal bid. I and many others have been writing about this forgotten liability of borrowers.

Now here is an example of just what we said would happen, happening:

How the deficiency judgment hearing proof is presented to the court is discussed in my previous article on Foreclosure Deficiency Judgments and my original Back to Basics article. The essence is that a deficiency judgment to be issued must go through a hearing where the lender submits proof (evidence) of the value of the property. The borrower has the right to refute the values. Getting to the number works like this:

To figure get the balance of the monies the bank must go back to court to ask the court to award it a "Deficiency Judgment". The amount is what is in question and the amount is measured using various rules. Let's assume the bank bid $100. The court is not going to say that the house was worth $100 and $324,900 is still owed. For our assumption we will say that the property is worth $200,000 and the foreclosure judgment is for $325,000. That means the court will ask for an appraisal of the property as of the day of the foreclosure sale and the judge will likely give it that value. So it will be the appraisal value less the judgment amount which will equal the Deficiency Judgment. If the appraisal is $250,000, the Deficiency Judgment would be $75,000. Now if there was real bidding at the foreclosure sale the judge could consider that bidding and instead adopt the selling price under the competitive bidding process that occurred at the foreclosure sale. Then the Deficiency Judgment would be the difference from the foreclosure judgment and the winning bid amount. If the competitive bid was $240,000, then the Deficiency Judgment would be $85,000.

Back to the real life person with his August hearing - we suggested that before he retain us to negotiate with the lender on the deficiency amount and terms as a possible settlement without going to court, he try it himself. We also suggested he speak with a bankruptcy attorney as there may be some planning opportunities available for him before the judgment is entered - if the negotiations don't work.

Remember, a money judgment - that is what a Deficiency Judgment is - gives the judgment holder broad powers to collect the money, including garnishment and attachment of assets (like bank accounts). Fraudulent Transfer Acts in the various states will block or take back transfers made to "hide" money from creditors. See the article at CNN Money.

Copyright 2010 Richard P. Zaretsky, Esq.

Be sure to contact your own attorney for your state laws, and always consult your own attorney on any legal decision you need to make. This article is for information purposes and is not specific advice to any one reader.

Richard Zaretsky, Esq., RICHARD P. ZARETSKY P.A. ATTORNEYS AT LAW, 1655 PALM BEACH LAKES BLVD, SUITE 900, WEST PALM BEACH, FLORIDA 33401, PHONE 561 689 6660 RPZ99@Florida-Counsel.com - FLORIDA BAR BOARD CERTIFIED IN REAL ESTATE LAW - We assist Brokers and Sellers with Short Sales and Modifications and Consult with Brokers and Sellers Nationwide! Shortsales@Florida-Counsel.com New Website www.Florida-Counsel.com.

See our easy to understand articles at:

TABLE OF CONTENTS - SHORT SALE AND LOAN MODIFICATION ARTICLES

Search Real Estate Listings in MLS like a Realtor

↑ Grab this Headline Animator

All information should be independently verified.

My other Facebook Fan Pages include:

Do you LOVE Boooooobies as much as I do?

Thu, 01 Jul 2010 01:54:48 -0400

Do you LOVE Boooooobies as much as I do?

I do not know about you, but since I was born I was a HUGE FAN of Boooooooobies. Are you a Huge fan of Booooooobies too? Well if you are, than you will want to Check Out this site. Now do not worry it is not a website that is going to soon have the newly approved .xxx instead of .com

While there are some pictures there no pictures of one of my favorite things: Booooooooobies. The site is also absolutely free. No 3 day trial, no monthly fee, no contract, or need to submit any information

Maybe you have already been to the site but it has fallen off your radar or you thought it was, like so many other sites, another internet scam

Snopes has investigated and says it is a solid sight, but with a condition

Unlike the way it is explained in the viral email, one click does not provide a free mammogram for a needy woman - it actually takes 45,000 clicks, not just one. Averaging 58,000 clicks per day, The Breast Cancer Site provides funding for approxiamately 1.3 mammograms per day. You are also limited to ONE Click per day

So the ActiveRain community could actually provide 4 mammograms per day based on 180,000 being 45,000 x 4. Is there really a better cause out there worthy of JUST A CLICK EVERYDAY? A click a day can save a live. I do alot of clicking every day. I am fairly confident, that before I found this site, not a single click of mine went towards saving somebodies life.

So there You have it folks. Maybe you can set the site as your home page and first thing you do every day of the rest of your life, is click a digital button to save a life.

How much easier does it have to get for people to take action? I am sold, how about YOU

Please visit http://www.thebreastcancersite.com

SAVE THE BOOOOOOOOOOOOOOOOOOBIES!!!!!

Please Re-Blog

Search Real Estate Listings in MLS like a Realtor

↑ Grab this Headline Animator

All information should be independently verified.

My other Facebook Fan Pages include:

Homebuyer Tax Credit - Closings to be Extended until September 30th

Wed, 30 Jun 2010 23:58:41 -0400

Good news for those who were offered something only to have it taken away. You now have more time to make it happen

Via Drew Sygit (The Lending Edge) Real Estate Financing Expert (The Lending Edge):

Well Congress finally got their act together on something.

Both the House & Senate approved a bill to allow homebuyers with purchase contracts dated by April 30, 2010 to close on their transactions until September 30, 2010. THe bill is now on its way to President Obama to be signed into law.

Why the extra time?

According to the National Association of Realtors, approximately 180,000 homebuyers would lose out on the credit as they can't close by the current June 30th deadline.

NAR blames backed up lenders, delays in Flood Insurance and the Rural Development programs and new construction issues as the primary reasons homebuyers can't close.

Here's NAR's 180,000 list broken down by state:

Alabama, 2,590; Alaska, 830; Arizona, 5,440; Arkansas, 2,090; California, 17,700; Colorado, 3,390; Connecticut, 1,770; Delaware, 400; District of Columbia, 300; Florida, 14,830; Georgia, 6,270; Hawaii, 710; Idaho, 1,270; Illinois, 7,030; Indiana, 3,560; Iowa, 2, 030; Kansas, 1,840; Kentucky, 2,540; Louisiana,1,800; Maine, 840; Maryland, 2,630; Massachusetts, 3,930; Michigan, 6,470; Minnesota, 3,760; Mississippi, 1,530; Missouri, 3,600; Montana, 760; Nebraska, 1,110; Nevada, 3,800; New Hampshire, 690; New Jersey, 4,300; New Mexico, 1,160; New York, 9,190; North Carolina, 4,890; North Dakota, 460; Ohio, 8,510; Oklahoma, 2,760; Oregon, 2,090; Pennsylvania, 5,830; Rhode Island, 500; South Carolina, 2,460; South Dakota, 500; Tennessee, 3,910; Texas, 15,340; Utah, 1,130; Vermont, 400; Virginia, 3,890; Washington, 3,190; West Virginia, 940; Wisconsin, 2,690; and Wyoming, 390.

What about all the buyers that have contracts on short sales?

Short sale can easily take 4 months or longer to close. So, if a homebuyer entered into a purchase contract in April, there's a very low chance they would be able to close by the current June 30th (today) deadline.

A good portion of short sales will be lucky to be able to close by the soon-to-be extended deadline of September 30th.

Now if only Congress could get its act together on the Flood Insurance issue...

MORTGAGE, EXPERT, MICHIGAN, BIRMINGHAM, BLOOMFIELD, DETROIT, ROCHESTER, ROYAL OAK, TROY
_______________________________________________________________

If you enjoyed my blog post,
I invite you to connect with me on the social networks below & subscribe to my blog!

"Referrals are Sending Someone You Care about, to Someone You Trust!"
So, forward this blog post to someone that'll appreciate it!

_______________________________________________________________

Drew Sygit: CMPS, CMC, CRMS, CMLO, CALO, MBA, NAMB/MAMP Instructor & Speaker
The most Certified Mortgage Expert in the Midwest

Contact him for The Lending Edge
P: 248-356-3739 • F: 866-215-3755 • dsygit@TheLendingEdge.com • www.TheLendingEdge.com

Search Real Estate Listings in MLS like a Realtor

↑ Grab this Headline Animator

All information should be independently verified.

My other Facebook Fan Pages include:

New Beginnings

Tue, 29 Jun 2010 20:43:30 -0400

I find it interesting that we happen to be doing this just as the First Half of the year ends and the Second Half begins. To what am I referring? To what have I been hinting at over the past few weeks. As the market changes you must adapt. In that vein, My Boss, My Broker, has struck a deal with Prudential Tropical Realty. Fruits Real Estate Services Inc. is, as of July 1^st, 2010 is becoming the Tarpon Springs Branch of Prudential Tropical Realty.

Prudential Tropical Realty has 14 branches, now 15 with us joining them, in the Tampa Bay Area. I am a fan of trees. I went digital over a year ago with TransactionDesk, which is an award winning online transaction management provided by FAR (Florida Association of Realtors). PruTropical has its own online program.

As a result of the changeover I will be neglecting my blog while acclimating myself to all the new systems/internet/intranets/forms/servicing existing clients etc....

I will try to keep it interesting, but forgive me as I deal with this transition which I strongly believe my prospects/customers/clients will benefit greatly from this new relationship

Search Real Estate Listings in MLS like a Realtor

↑ Grab this Headline Animator

All information should be independently verified.

My other Facebook Fan Pages include:

Servicers get Ranked on Short Sales!

Sun, 27 Jun 2010 18:20:16 -0400

This might explain why I let another agent in my office get all my short sale Referrals. Short sales are not for the faint of heart on the buyers side. Really should only be done by seasoned buyers or professional investment groups

please direct all comments to original blogpost

link directly below

Via RE/MAX Benchmark- "REMO@Remax!":

Is there progress among servicers in the short sale world? REO Insider recently reported on how Deutsche Bank ranked top mortgage servicers based on short sale timelines. Here's how the rankings shook out based on mortgage type and average time to complete short sales. We know there's progress in the industry (agent education, new processes, HAFA, etc.), and we'd love to know what you think about this:

Prime:
1. GMAC - 6 months
2. Citigroup's servicing arm CitiMortgage - about 7.5 months
3. Wells Fargo - roughly 8 months

(Countrywide - now owned by Bank of America - had the slowest short sale timeline at an average of more than 13 months)

Subprime:
1. Wells Fargo - more than 15 months
2. HomEq Servicing - 16 months
3. Morgan Stanley's servicing arm Saxon Mortgage Services - at a little more than 17 months

(Equicredit and Ocwen came in last with an average of more than 29 months on their short sale timeline)

Option-ARM:
1. JPMorgan Chase's EMC Mortgage - just over 8 months
2. Aurora Loan Services - 10 months
3. GMAC - just more than 10 months

(Again, Countrywide brought up the rear with a short sale timeline at almost 14 months)

Alt-A:
1. First Horizon - just over 9 months
2. Both Wells Fargo and Aurora - roughly 11 months

(Here's Countrywide again at the bottom at more than 13 months for their short sale timeline)

ReBlog via CDPE

Search Real Estate Listings in MLS like a Realtor

↑ Grab this Headline Animator

All information should be independently verified.

My other Facebook Fan Pages include:

I'm Not Buying Your House - I'm Your Listing Agent

Thu, 24 Jun 2010 18:07:31 -0400

Word to the Wise: If you want to sell your house, you need to price it REALISTICALLY

Via Bethesda Real Estate ~ Bethesda Homes for Sale (Long & Foster Real Estate, Inc.):

Some days I feel like banging my head against the wall.

I heard a friend say recently that she didn't understand why her neighbor's house had not sold. After all, they went with the Realtor who gave them the highest price. Said just like that. Never once crossed her mind how inconsistent with success that was and she had no understanding whatsoever that her neighbor was likely "bought" with a too high price that the agent knew he couldn't bring in.

Thus the head banging. How do I counter the assumption that people have that we as agents are going to get you more than your house is worth? The market dynamics are what they are and the true competence any seller should be seeking is to find someone who understands that market with a keen sense of buyer urgency, has a marketing plan that includes many creative ways to get your house in front of buyers and a good grasp of the current financial climate.

You are not selling your house to the highest bidding real estate agent. I'm going to repeat that. You are not in a bidding war with real estate agents.

But you are in a war with other sellers to compete for the same pool of buyers. And that is the critical role of a really good listing agent: to bring the market to you. The most market possible so a probable buyer will surface and buy your house. That buyer is going to set the final price for your house if you decide to take it. Not the listing agent!!

I experienced this recently with sellers who interviewed me to sell their home but wouldn't tell me what they thought it was worth or what they were considering selling it for. They said they really liked me and wanted to go with me "based on the price I gave them."

That head banging thing again...

No matter how many times I said it was like playing Pin the Tail on the Donkey to find the right price at which they'd hire me, they never saw the error of their ways. Or maybe they did and just thought that if they kept up the search they'd find someone who would do a CMA and come up with the elusive price they were looking for.

Seriously, how can anyone expect a professional to work like this? And how easy do you think it would have been for me to say because I have such a good marketing plan, I'm sure I'll be able to get you $1.2M for your home, when I knew it would likely sell for no more than $1M. They would have signed an exclusive listing agreement with me so fast, but before the ink was dry we'd be talking about how the market wasn't responding and they'd have to think about a price reduction to get sold.

There was an agent in this particular market who very likely would do exactly what they thought they wanted. They have no way to connect the dots and know the postcard they received from the agent touting her success at selling another home in their neighborhood, did so with 485 days on market and a 20% reduction from the original price to the sold price. That was a painful process for the seller and one that could have been avoided if they had listened and chosen the agent who could help them:

1) Get the home in the best condition and get excellent photography in place

2) Understand the market pricing and help them price with their motivation and needs in mind but with the fundamental reality that the buyers would set the final pricing

3) Market the house with more than just the local MLS in mind. The house needs to be marketed all over the Internet so there is widespread coverage that brings in the buyers who are relocating as well as any local buyers.

4) Help them get out of their own way so they can successfully sell their home and get on with the next phase of their lives

I fully understand the lure of that high price someone gives you. It's like the siren song that reels you into the rocks... As a seller you need to remember that your focus is on hiring someone who can back up the recommended pricing and get your house sold. Just because you can throw a rock and find someone who will tell you what you want to hear is not reason enough to hire them for one of the most important transactions in your life.

If you are looking to buy or sell a home here or in one of the other lovely surrounding Bethesda real estate communities, please start your search by calling me, a Bethesda Realtor.

Search here for all Bethesda homes for sale with no registration required

Serving the Greater Bethesda, Chevy Chase, Potomac, Kensington area communities and other surrounding areas.

I'm available to help you!

Josette Skilling

Real Estate Professional
Long & Foster Real Estate, Inc.
Cell: 301-385-9213
Email: j.skilling@verizon.net
http://bethesdabuzz.com

Copyright © 2010 by Josette Skilling

Bethesda Real Estate and Bethesda Homes for Sale

Search Real Estate Listings in MLS like a Realtor

↑ Grab this Headline Animator

All information should be independently verified.

My other Facebook Fan Pages include: