CLUB CAR GOLF CART - $2000. HAS SIGNALS, LIGHTS, ROLL DOWN CANVAS AND IS IN GREAT SHAPE. CALL BONNIE MILLS FOR INFORMATION OR TO SEE CART. 352.427.1131.
8 On Top of the World Open Houses
Sunday 7/19/09 Please note the times!
Pick up list and map at ERA Big Sun Office, at open house
Or on website: www.ocalaflrealestate4u.com/openhouse
Come join Ralph & Bonnie Mills for this fun tour of
8 OTOW homes!
8829 C SW 94 St $49,000 12 – 12:45 PM
8900 E SW 97 St Rd $59,900 12 – 12:45 PM
9727 SW 92 Pl Rd $112,000 1 – 1:45 PM
9735 SW 92 Pl Rd $109,900 1 – 1:45 PM
9130 SW 90 St $140,000 2 – 2:45 PM
9053 SW 91 Cir $144,900 2 – 2:45 PM
9491 SW 94 Ct $199,900 3 – 3:45 PM
8305 SW 82 Lp $239,000 3 – 3:45 PM
ON TOP OF THE WORLD MAP:
http://www.ontopoftheworldinfo.com/pdf/OnTopoftheWorld_Map.pdf
A milestone in a planned 30-year international phaseout of environmentally sensitive refrigerants used in residential air conditioners and heat pumps occurs in six months. After January 1, 2010, manufacturers of air conditioners and heat pumps can no longer produce equipment that uses the refrigerant R-22, which is commonly know by the brand name Freon®.
Because of this pending deadline, there is a lot of misunderstanding among contractors and homeowners about the future status of systems currently in homes that use R-22. Most affected will be homeowners needing to repair a malfunctioning system or contemplating replacement of an older system. Before making a decision on the remedial options available to them, homeowners should be aware that contrary to the impressions they may have been given by HVAC salesman or service technicians, it will still be possible to service and repair many older R-22 systems for years to come.
While the phaseout requirements only allow refrigerant manufacturers to produce R-22 for use in new equipment until 2010, they can continue production of a regulated amount of R-22 until 2020 for use in the servicing and repair of existing R-22 equipment. It is not until 2020 that the production of R-22 will cease and subsequent servicing of R-22 based systems will have to rely solely on stockpiled or reclaimed and recycled refrigerant.
In anticipation of this phaseout, some manufacturers began manufacturing equipment that uses a new type of refrigerant several years ago. But given the extended phaseout schedule, it is expected that R-22 should continue to be available for servicing for all equipment that requires R-22 for another 10-15 years, which will at least match the typical maximum service life of most air conditioning and heat pump systems. So while manufacturers will not be able to make equipment that uses R-22 after January 1, 2010, the refrigerant will still be available in the near future for servicing of existing equipment.
Between the R-22 phaseout and recently implemented new minimum energy efficiency requirements, however, salespeople and service technicians will be pushing for all new equipment whenever significant repair needs exist or the equipment is old. Ultimately, the best approach in each situation though, will depend on a number of factors including: the cost of repair versus replacement, the age and efficiency of your equipment, you future occupancy plans, and your approach to protecting the environment.
To help address questions you may have about the phase out of R-22, review information the U.S. Environmental Protection Agency and Heating, Refrigeration and air Conditioning Institute of Canada have posted on their websites. Particularly helpful may be a listing of FAQ for consumers issued by EPA.
Remember, these tips are only general guidelines. Since each situation is different, contact a professional if you have questions about a specific issue. More home safety and maintenance information is available online at www.housemaster.com.
Copyright © DBR Franchising, LLC
Buyers rule? Not so fast. Certainly that's not quite true if the property falls under the category of distressed property. Distressed property usually needs far more than a paint job. Property is considered distressed if it has been foreclosed by the lender or the owner is seriously late in making payments or the property is upside down. Upside down meaning that the value of the property is less than the mortgage amount.
So what am I meaning by Lender's market?To define a "Lenders Market", let's first review the characteristics of a " Seller's Market " and a "Buyers Market". In defining a "Sellers Market", we usually find a lower than usual and faster moving inventory with prices generally increasing and the Seller more clearly in control to determine the outcome of any successful effort to purchase. Buyer's tend to pay more (often times more than property might be listed for). Many of the buyer’s contingencies are either eliminated or greatly reduced. The time for removal of contingencies is shortened. In some cases many of contingencies are negotiated way, such as a buyers typical request for repairs and the length of time the buyer has to obtain services such as appraisal and loan approval.In a really hot “Seller’s Market”, buyers typically need more down payment and higher earnest money deposits that may be defaulted if the Buyer fails to consummate the transaction in the exact time frame as outlined in the purchase agreement.In a “Buyer’s Market”, buyers tend to have greater control of the time frames and also many of the terms and conditions in the contract tend to favor their wants. Sort of a flip of what is found in the “Seller’s Markets”. In a “Buyer’s Market”, buyers typically pay less than they might in an active “Seller’s Market” and usually have a larger selection of properties to choose from.So what then is a “Lender’s Market”? A “Lenders Market” is typically where there is a large number of or a majority of the market is made up of distressed property sales. Distressed properties being those where the owner is either in default of keeping the mortgage current or has already been foreclosed upon. A property is also said to be distressed if the value of the property is less than the mortgage or trust deed amount and the owners are unable to keep the mortgage current and want to sell the property. When a property has been foreclosed by a lender, it is called Real Estate Owned (REO). When a property owner wants to sell a property for less than is owed on the property, it is referred to as a Short Sale.A "Lender's Market" might have a combination of many of these characteristics. Many of the buyer’s benefits in their offer to purchase are striped away including the pest inspection and clearance, closing costs, home warranties and repair requests with the lender opting to sell the property in its present physical condition. Naturally there are exceptions to this depending on the Lender and whether the distressed property is a short sale or REO. By and large, lenders want the highest possible price with the least number of contingencies. Only Buyer’s with pre-approved loans are considered and in the case of REO’s, the lenders will give greater priority to All Cash offers over offers with financing even if the offering amount is slightly less. All Cash offers have fewer contingencies and can usually close faster clearing the asset from the lender’s books faster without any hassles or delays as may be occasioned by other banks that are providing the Buyer’s loan.When properties are “Sold in present condition”, Buyers must be extra diligent in their property inspection to ascertain to the extent possible, the true nature of the property.Typically lenders will tighten down time lines and may impose a penalty if there is any delay in the close of escrow for any reason. The essence of the lenders market is "take it or leave it" As the saying goes, "He who has the gold makes the rules". But it is also important to know that many REO’s and short sales can be good deals but it does require extra diligence and careful consideration when purchasing them. To further describe the difference in distressed properties, in a Short Sale the owner of the property remains the Seller and in the REO, the lender is the new owner and the differences between a short sale and REO can be striking.In the short sale, the lenders key role is to approve taking a loss in the amount owed on the trust deed or the mortgage. When the mortgage is late usually for 3 consecutive pay periods, the lender can file a notice of default. In a short sale, if the owner files documents with the lender explaining the financial distress that is causing the late payment and wants to sell the property, the lender may opt to consider a purchase offer on the property that is short of what is owned combined with the costs of sale. It is a judgment call of the lender since they have the right to file a default notice and if the owner can not correct the default amount, the lender can foreclose. The lender has specific times frames it must follow in this regard. The Buyer as well has a specific amount of time to cure the defaulted payments with any penalties.Lenders have been encouraged by the government to for stall the foreclosure process and help slow down the excessive number of foreclosures that have taken place over the last couple years on the defaulting loans.Lenders involved in distressed properties are clearly in charge to determine if they will accept even the highest offer on the property. In the case of short sales, they can either accept writing off the short fall of the outstanding trust deed or opt to continue the foreclosure process. Of late, lenders are becoming much more realistic in understanding that short sales are costing them less than they would have to write off as a bad asset in a foreclosure.
REO's close in the shortest possible time period. In short sales, there is most often a serious lag time (often months) before the lender even agrees to the process. Today with the greater influence of government encouraging banks to accept the short sale process sooner rather than later, we will most likely see the short sales process refined and the time frames for approval to be lessened.
Before you begin house-hunting, it's best to know from your lender if you pre-qualify or are pre-approved for a loan. The distinction between the two is that pre-qualifying determines how much a lender will lend you. It involves obtaining a letter from the loan officer who looks at your debt ratios, gross income, and work history to see if you're qualified to make the monthly payments. This usually can take weeks while you wait for a pre-qualifying letter.
Pre-approval, on the other hand, takes it a step further and usually involves non-refundable fees. This process takes into consideration your credit history report, income verification, confirmation of down payment, and ability to pay closing costs. Once approved, the pre-approval letter lets the real estate agent and seller know you're qualified to negotiate terms.
Contact Us | Palm Cay Homes | Spruce Creek Homes | Candler Hills Homes | Stone Creek Homes | Indigo East Homes | Marion Landing Homes | Cherry Wood Homes | Oak Run Homes | Pine Run Homes | OTOW Homes | Spruce Ck Pr Homes | Summer Glen Homes | Market Report | OTOW Information | No Offers Yet? | Download Adobe Acrobat | News | Featured Properties | Home | Blog of Bonnie
Copyright © 2010 ERA Big Sun RealtyPortions Copyright © 2010 a la mode, inc.Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site MapAll rate, payment, and area information are estimates and approximations only.