Port Orange Area News: Softball Brawl at the Beach!!

What a great opportunity to see some Major League Baseball Players and some area athletes compete for Charity , here in Daytona Beach at the Brawl at the Beach Charity Softball Event.

Three Winners of the Amateur Home Run Derby from this past weekend will compete against some of the Pros on Friday Night at 7 P.M. . The Amateur competitors are :  Gary Malphurs, Chris Gatewood, and Roger Huff .
The two Amateur Teams that will compete for the chance to play the Big Leaguers are: 7th Inning Villains, and Giles Electric. They will play at 1 P.M. on Saturday with the winner facing off against the MLB Martians (pros) at 3 P.M. .

Where  : Jackie Robinson Ballpark.
Tickets : $10 Adults, $5 Children 4-13 for Home Run Derby  -  $15 Adults, $5 Children 4-13 for Softball Game ; Children 3 and under are free
               
The Home Run Derby and Softball Game are benefiting Foundation -4, the charity of St. Louis Cardinals Catcher:  #4 Yadier Molina.

LOOK HERE !!
For an Additional $15 - There is an Autograph Session Friday and Saturday , before the events. Limited Tickets available.

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Port Orange Real Estate News: Tax Relief for Short Sales !

Along with the Fiscal Cliff facing the Nation at the end of the month, is the end of the Mortgage Forgiveness Debt Relief Act effective since 2007. Most people won't be affected by the scheduled end of this Act. The people that will be affected the most are those that could afford it the least.

When a home is Sold through Short Sale, the bank is accepting a payoff for less than they are owed. They are "short" on their income. They have to show that forgiven amount as an income to the seller to the IRS. The Mortgage Forgiveness Debt Relief Act basically said that homeowners selling their homes through short sale would not have to pay taxes on the Forgiven Debt. This amount could be as big as $100,000.00 or more, which would be a big Income Tax Bill at the end of the year.

 An extension is included in the Family and Business Tax Cut Certainty Act of 2012 that recently passed out of the Senate Finance Committee with bipartisan support. If this Act does not get passed by Dec. 31, 2012 , then all home owners selling through Short Sales will be paying taxes on their sale.

Thinking of Moving? Use Our Website to Search for Homes or to keep track of Homes in your Neighborhood with Subdivision Search.

Daytona Beach News: Greek Festival !

 The 36th Annual Greek Festival will unfold Nov. 8-11 at St. Demetrios Greek Orthodox Church located at 129 N Halifax Ave. in Daytona Beach.

There will be traditional, live Greek music, dancing, Greek beer, wine, ouzo and incredible selections of Greek cuisine. The family oriented event also offers the chance to learn how to dance to Greek music and take a tour of St. Demetrios Church to discover Greek religious traditions.

Schedule:
Thursday – Saturday     from   11 am – 10 pm
Sunday                          from    12 am – 8pm
Location: 129 N. Halifax Ave Daytona Beach Fl

Due to Limited Parking , there is a Free Shuttle Bus and FREE Parking at OUR LADY of LOURDES : 201 University Boulevard Daytona Beach, FL 32118.

Don’t miss the 36th Annual Greek Festival.

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Daytona Beach News: 52nd Home Show !

 

     The Ocean Center was a flury of workers on Thursday as they set up for the 52nd annual Fall Home Show. The Home Show is presented by The Daytona Beach News-Journal, at the Ocean Center, 101 N. Atlantic Ave., Daytona Beach.

     The event, which runs Friday through Sunday, will feature more than 300 exhibitors, demonstrations, seminars, giveaways, a Wellness Zone, a Fun Zone, Pink Booth for breast cancer awareness, and appraisals by Dr. Lori of Discovery Channel's "Auction Kings." According to Dr. Lori's Website , she will be doing appraisals at 3PM Friday and Saturday, and at 2PM on Sunday.

      Times are 10 a.m.- 6 p.m. today and Saturday and 10 a.m.- 4 p.m. on Sunday. The event is free. Parking is $5 at the Ocean Center's west lot and parking garage.

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Port Orange News : Cypress Head Golf Club is 20 Years Old !!!

It is hard to believe that our Golf Course is 20 years old. I have enjoyed playing there with friends and family. It has a nice practice range with putting green and bunker area. It is still a challenging course to play. The Course has always been well maintained and the Grounds Crew keep hard at work. It is also a Great Community to Live In !

The homes in Cypress Head range from Town homes to Estate Homes. Parts of the Community are gated, while much is open. It also has a fine Club House and Community Pool.

There are several homes for sale right now. Our Listing in Cypress Head is a Great Buy under $200K. Much of the Interior has been Beautifully Re-done by current owners. All it needs is you.

You can keep track of homes in your Neighborhood by using our Subdivision Search. No log in and Search all you want. If you would like some information or to go see a home, please call or Contact Us .

If you would like to play a round, you can Book it On-line .

Port Orange News : Lease Purchase !!

What is a Lease Purchase Option?
If a Seller has a home sitting vacant on the market, and they want to get a certain dollar amount out of a house, they have only a few options:
    1-- They can rent the home and wait for the market to improve. This can be risky. If they are paying two mortgages, and a renter walks away, they have a small deposit to cover them. If the renter quits paying, they have to follow rules for eviction. Then get another renter. If they fall behind on payments, foreclosure proceedings get started.
    2-- They can do a short sale. This can hurt their credit. If they are not already in another home, it could make it difficult to rent or buy.
    3-- They could let it go into foreclosure. This will really hurt their credit. ... For a long time.
    4-- They can do a Lease Purchase .

This is what a Lease Purchase entails:
    1-- They list their home on the market with Lease Option Available.
    2-- A potential Buyer puts in a contract to purchase a year later.
    3-- A lease option is drawn up by an attorney.
    4-- Usually a sizable NON-REFUNDABLE deposit is requested. The deposit is the only money applied towards purchase, monthly lease payment does not.
    5-- At the end of Lease period, the buyer should close on property.

During the Lease Purchase Term, the home owner must keep up with Mortgage payments , HOA if required, Taxes, and home insurance. The buyer now bears responsibility for the property itself and is required to get insurance for their contents.

If you hare considering a Lease Purchase, make sure you understand the lease and the responsibilities.

We have a beautiful Home in Summer Trees of Port Orange with a Lease Option Available!!
Feel free to use our Subdivision Search and keep track of the home prices in your neighborhood.

Port Orange News : Time on Market Down !!

According to the National Association of Realtors, the amount of time a home is on the market has been reduced. InJuly of 2011, the median time a home was listed for sale on the market was for an average of 98 days. In July of 2012, that time dropped to 69 days. This means we are in a more balanced market.

There is always a relationship between time on the market and demand. That is common sense. During a balanced market, a price increase of 1-2% above inflation is normal. During the hey-day of 2004-2005, the time listed for sale was down to 40 days or less.

We are in a good market where sellers are getting a fair market price. We just need the appraisers to keep up with the market.

Keep track of the active listings in your neighborhood by using Subdivision Search on our Website. You don't have to Log-In.

Information for this BLOG were taken from NAR NewsReleases

Daytona Area Real Estate News: Short Sale News!!

On August 21, 2012, FHFA ( Federal Housing Finance Authority ) issued new guidelines for loans where the investor is Fannie Mae or Freddie Mac. The changes are intended to help homeowners hit by financial hardhip, moved by military, have a second mortgage, or have to move more than 50 miles for a job.

The FHFA News Release gives more details about how the changes are intended to help.

Use our SUBDIVISION SEARCH and keep track of the market in your Neighborhood. Or use our MLS Search to find the Home you want.

Port Orange Real Estate : Short Sale News

One of the problems with Short-Sales has been having to deal with Second Liens. They wait to respond, ask for more money from first lien holder, or money from homeowner, and often want them to take line of credit to repay balance. They stall and often kill the first offer on a Short-Sale.

This is done with the knowledge that they will get no money if the home is foreclosed and they will have to sue the homeowner for balance. This, in turn, forces the homeowner to file bankruptcy.

"Why cause the delay and unneccessary hardship? Just make the decision and get on with it." This may be what U.S. Rep. Jerry McNerney, D-Calif. was thinking when he proposed The Fast Help for Homeowners Act.

By eliminating the delays, first liens may be more willing to negotiate with second lien holders. If nothing else, it will improve response time. The Act will give second liens on Federal Mortgages 45 days to respond, and on the 46th day will have to accept the deal.

If nothing else, this Act will make second lien holders respond faster.

If you are thinking of Buying or Selling in the Port Orange Area, contact us at Selling Daytona Homes. Use our site to look for homes in the Area and see what some of the Cities have to offer.


Source: “Evasive Second-Lien Holders Thwarting Short Sales,” HousingWire (July 25, 2012)