The PURTEE Team Awarded Top Producer Award 2012

At the awards ceremony last week, The Purtee Team again came away with top producer awards for volume of business done during calendar year 2012. Their broker, Realty Executives Adamo & Associates applauded the team for its $16 million+ volume here in Tampa Bay!

When asked about their 2012 performance, Garges is the first to praise Lambdin for her amazing work with bank-owned REO’s in the area. Plus she attributes a great part of the success to their diligence regarding their database. As a matter of practice, monthly market updates are emailed to their list of over 3,000. Each update is filled with market statistics, analysis, HOT DEALS and rental property updates. With that help and an in-debth proactive website, their clients can search the MLS just like a realtor, save searches and properties they find and receive updated properties that fit their criteria right as they come on the market! We then work together to negotiate the best deals.
As a team, we bring a very strong knowledge of the market, negotiation skills, construction, finance, rental property, home decor… and so much more! Visit our website at www.floridagulfproperty.com or join our database to receive those market updates by emailing info@floridagulfproperty.com. We look forward to working with you!

Short Sales – Buyer Strategy To Getting The Best Deals

If you are considering a purchase in the Tampa Bay, Florida area, you are no doubt expecting to take great advantage of this market and the opportunity to save BIG $$$ on your purchase! You may have heard about all the foreclosures, but how knowledgeable are you on
SHORT SALES?
In a Short Sale, the seller is in a pre-foreclosure situation. He is not able to continue supporting the property (both its mortgage and expenses). Because of the fall in market value, both sellers and lenders are discovering that the current value of a property simply won’t cover the balance of the mortgage.

So… consider the following example:
A couple purchased the beach front condo pictured above in 2005 for $679,000. They put 20% in cash down and took out a mortgage for $543,000. Along the way, with prices still climbing, they took out an additional line of credit for $60,000. You see where this is heading, right? The total debt against this condo is around $600,000. BUT the market value has slid up to 20-25% in this case… bring the current market value to between $509,000 and $540,000. To get aggressive in selling the condo quickly, we as realtors advised them to price it at $499,000… 26.5% less than what the seller paid.

In a short sale, the lender (in some cases both first and second mortgage lenders) is faced with making the decision whether to accept an offer on a property that is less than what is owed. Many factors come into this situation such as 1) The stacks of files with similar situations and the workload it represents to the lender; 2) The impact of the negative assets on the lender’s balance sheet; and 3) The ability to recoup any of the loss from the original seller.

For that reason, the process can take a while. Buyers looking for an exceptional value and willing to be patient can wind up with an incredible deal! Really good short sale deals are usually under contract within the first two weeks of coming onto the market. Though our Buyer Program, we can enter the exact criteria of what a buyer is looking for with one of those criteria being a short sale. When a new property comes on the market that fits that criteria, an email notification automatically goes out to the buyer within minutes of it coming on the market! This is absolutely one of the best ways for a buyer to take advantage of the current market and save $$$!

Exclusive Home Buyer Membership Program Added!

As can be imagined, the vast majority of new home buyers to our Tampa Bay area are from non-Florida areas. Canadians flock to Florida to escape their brutal winters, but we have also helped buyers from England, Ireland, France and Germany. Over the past week, upon discussing with other member of The Purtee Team how best to help our non-resident buyers, we came up with the Exclusive Buyer Membership Program. This program is an ideal way for people considering a purchase in the area to know exactly what is on the market that fits their exact criteria. Though our realtor site we are able to be much more specific in a search, unlike the usual search engines provided to the public such as Realtor.com and Trulia.com.

Where it gets really exciting is the capability we have to allow automatic notification of new properties that come on the market, or experience a price reduction, that are custom fit to a particular buyer and their exact needs!

It is so easy and is totally free of charge. We have an extensive questionaire that systematically goes through your “dream list” of what you are looking for. For example, you want a home with a minimum of 4 bedrooms, but you also want a pool, at least a 2-car garage, a fireplace (yes, there are some here in Florida!), built 1995 or later (or renovated), oh yes… and you have a 75lb dog! Maybe you want a specific neighborhood… or perhaps you want to be directly on the beach – or at least a water view. On this form, anything that is not necessarily a question already there can be addressed in the additional comments section. A member of The PURTEE Team actually goes through the entire form and inputs the information into your own buyer profile. Once complete, you are on your way to receiving your property information well before other buyers ever know about it! You are able to move quickly and get that great deal while others are simply wondering how you knew! Simply click on the link and begin your search today.