Weston Florida Real Estate Blog, Neal"The Real Deal"Bloom

Wanna get your home withdrawn from Foreclosure?- Just read this.

Neal Bloom-Realtor ® Assoc.-CRS-Weston FL (RE/MAX Premier Associates) — Sun, 05 Oct 2008 18:37:28 -0500

Many of you have heard the saying..."If you want to get famous...have an affair with a politician or shoot someone."

There's a new way get your home withdrawn out of Foreclosure?

This article below really blows my mind. Does it have to come to this to get some sort of relief? Amazing that it takes a 90 yr old women to go shoot herself to get any attention.

You've got to read this article >>>HERE

There's always two sides to a story but this is unreal. This isn't funny...it's sad.

For more information please contact Neal The Real Deal Bloom-CRS-Realtor® /Remax

2500 Weston Road ,Suite 103

Weston FL 33331

(954)608-5556

Citigroup looking to block Wells Fargo acquisition of Wachovia

Neal Bloom-Realtor ® Assoc.-CRS-Weston FL (RE/MAX Premier Associates) — Sun, 05 Oct 2008 12:03:07 -0500

Here's an update from the recent story I about Wells Fargo acquiring Wachovia Bank. It now appears that Citigroup is saying that a judge has agreed to a temporary block of the Wells Fargo acquisition of Wachovia.

You can read the rest of the story >>>HERE

For more information please contact Neal The Real Deal Bloom-CRS-Realtor® /Remax

2500 Weston Road ,Suite 103

Weston FL 33331

(954)608-5556

Breaking news-Wells Fargo acquiring Wachovia for $15.1 billion

Neal Bloom-Realtor ® Assoc.-CRS-Weston FL (RE/MAX Premier Associates) — Fri, 03 Oct 2008 07:30:13 -0500

After informing the public last week that Citigroup was going to be taking over Wachovia Corp ...there seems to be a change of heart.

You can read the whole story >>>HERE

For more information please contact Neal The Real Deal Bloom-CRS-Realtor® /Remax

2500 Weston Road ,Suite 103

Weston FL 33331

(954)608-5556

Market Price or Wish Price?

Neal Bloom-Realtor ® Assoc.-CRS-Weston FL (RE/MAX Premier Associates) — Thu, 02 Oct 2008 10:52:22 -0500

I originally wrote this blog back in October of 2006. It was my very first blog but I'm reposting it so we can look back at how close I was to my predictions. Please note that when I wrote it...I wasn't as experienced in blogging as I am now but my knowledge of the market was pretty close to the outcome we are seeing now so enjoy the content!

Unfortunately for sellers... they are still in that mode that it's still a sellers market and they are still looking to get that big 25% return we were all getting the last 3-4 years, I ...as well buy property and sell,rent or flip or whatever else you want to call it so I can relate to their disappointment.

But because of rising property taxes and ridiculous reasons insurance companies just drop HO's like a hot potato...we will start to see a change. Prices are starting to level off and I anticipate that they will surely start to drop at a drastic pace if something isn't done.I remember when things were different and they were just used to those crazy returns. If you think about it.... in a normal market we should be seeing about a 3-8% return.

That market was unreal and it did exist but I was thinking that eventually it will have to change and we'll look back and see it was fake...never should have been and although people have capitalized on it....there are some who will probably be hurt badly.

I'm surprised at how many people qualified for mortgages that couldn't even afford to pay their cell phone bill. How could this be real?

I can't tell you how many price reductions I see in the MLS and how much time sellers are wasting. This is the new meaning for most price reductions. I tell my clients that we'll keep reducing until the market reacts.... or if they continue to insist to price too high...they'll sit longer on the market and reductions will continue.

If a homeowner insists on pricing their home way too high and they get an offer without any comps to support it...then how will it appraise? Will appraisers puff up their numbers? Or will they follow the rules.

I hope that whoever is monitoring this will understand that it was out of control and unrealistic. It can't last much longer and this will cause many homes to be lost if prices come down and people lose their jobs.

These wish prices can't come true for too much longer.

Remember....what goes up ...must come down!

For more information please contact Neal The Real Deal Bloom-CRS-Realtor® /Remax

2500 Weston Road ,Suite 103

Weston FL 33331

(954)608-5556

Do you expect me to stand outside naked with a for sale sign on my butt?

Neal Bloom-Realtor ® Assoc.-CRS-Weston FL (RE/MAX Premier Associates) — Mon, 29 Sep 2008 21:14:16 -0500

This is the third different market I've experienced and it's probably the toughest one I've seen in my almost 13 yr career in Real Estate.

Some sellers are very nervous and then there are some sellers who wish to ride out the storm and wait for their price and then there are the sellers who can't sell so they just don't care what happens.

One of the biggest challenges that we... as Realtors® are experiencing right now is the pressure we're facing if we list a home for sale and no matter what we do ....it just won't sell.

Obviously with the way our current economy is now.....there are many consumers who are reluctant to purchase anything... let a lone a new home. With all the banks suddenly going out of business ...there are very few options for people looking to get a loan. most of the deals I am currently doing are on the lower end of price and most of them are cash deals. I've also been able to do more and more rental deals. I have plenty of inventory. Some of my listings are short sales and the rest are priced within a realistic range but even though the activity is average to sporadic...most of them haven't had offers in months and that is hard to swallow for me and for my sellers.

My clients and I are just sweating it out right now.

You can only do so much advertising and you certainly can't put a gun to their heads when the inventory levels are so saturated that buyers are looking at every listing that fits their criteria....so there's a lot to show before they make a decision.

Recently we had a fair offer on a condo we have listed on the inter-coastal and it's not a short sale...as a matter of fact ...the seller doesn't even have a mortgage and is now living in another property but when the seller countered.....the buyer walked. Should the seller have taken the initial offer? I guess it depends on whether or not they were motivated enough to sell.....they weren't

My clients know that I have their best interest at heart and they still have faith that things will loosen up eventually...but I also know that I have clients right now that have been on the market a very long time and they are eventually going to lose patience. There aren't many solutions other than watching the market and letting them know whats going on a monthly basis. Repositioning their home in the market place is still a very critical thing. I always advise them that if they can price it within the market instead of being out side of the market they won't be so far behind and catch up if they take longer to sell.

Just remember that consumers think that Realtors® are professionals and have the knowledge at what we do but they can't expect us to stand outside naked with a for sale sign on our butt and make a buyer make an offer.

We need to revisit this in about 6 months when the smoke clears.

For more information please contact Neal The Real Deal Bloom-CRS-Realtor® /Remax Premier Assoc.

2500 Weston Road ,Suite 103

Weston FL 33331

(954)608-5556

Citigroup Inc. will acquire the banking operations of Wachovia Corp

Neal Bloom-Realtor ® Assoc.-CRS-Weston FL (RE/MAX Premier Associates) — Mon, 29 Sep 2008 08:06:05 -0500

It's a shame that another one of the biggest banks has walked out on us. I think that this is becoming a domino effect. Although the FDIC insures savings accounts up to $100,000 ....it doesn't guarantee an equity line of credit. So the question for most in this situation would be to leave the account open or start withdrawing the money and putting it in another bank.

Please read the whole story >>>HERE

For more information please contact Neal The Real Deal Bloom-CRS-Realtor® /Remax Premier Assoc.

2500 Weston Road ,Suite 103

Weston FL 33331

(954)608-5556

Broward and Palm Beach counties to receive millions of federal dollars to fix abandoned and foreclosed properties

Neal Bloom-Realtor ® Assoc.-CRS-Weston FL (RE/MAX Premier Associates) — Sat, 27 Sep 2008 07:09:13 -0500

Broward and Palm Beach counties to receive millions of federal dollars to fix abandoned and foreclosed properties

You can read the entire article >>>HERE

For more information please contact Neal The Real Deal Bloom-CRS-Realtor® /Remax Premier Assoc.

2500 Weston Road ,Suite 103

Weston FL 33331

(954)608-5556

Washington Mutual is Seized by FDIC and banking assets were sold to JPMorgan Chase & Co for $1.9 billion

Neal Bloom-Realtor ® Assoc.-CRS-Weston FL (RE/MAX Premier Associates) — Thu, 25 Sep 2008 20:08:55 -0500

Washington Mutual is Seized by FDIC and banking assets were sold to JPMorgan Chase & Co for $1.9 billion

Washington Mutual Inc. has been seized by regulators and parts were sold to JPMorgan Chase & Co. in what will rank among the biggest banking failures in U.S. history.

You can read the whole story >>>HERE

For more information please contact Neal The Real Deal Bloom-CRS-Realtor® /Remax Premier Assoc.

2500 Weston Road ,Suite 103

Weston FL 33331

(954)608-5556

You have to "Feel" Florida to want to live here!

Neal Bloom-Realtor ® Assoc.-CRS-Weston FL (RE/MAX Premier Associates) — Sun, 21 Sep 2008 09:54:14 -0500

I've been living in Florida since 1999. If I look back now ...I can't believe it's been almost 10 yrs since I picked up and left everything behind.

When my wife and I got engaged to be married back in 1989....we would always talk about how we love going to Florida during the winter and having fun. I'll never forget when my wife said..."If we haven't settled on living in NY over the next few years and we weren't were we want to be with our jobs then let's just pick up and move to Florida." When most people hear the word "Florida" they think of Hurricanes...tornado's......bugs...lizards...alligators...rain storms and sunny...hot humid weather.

Well if you look around the world...there are many other places around the world that have most of the things listed above but if you look around here then you'll also notice that we have some great attractions and other fabulous things you can enjoy while you set down some roots here.

There aren't that many places around the world where you can go and bury your feet on nice white sandy beaches... have your choice to play on many championship golf courses...have a picnic at your local park...go on a boat ride...exersise outside or just relax outside at home all year round...but in Florida you can.

Florida is not for everyone but it sure beats shoveling snow and ice and freezing your little butt off 6 months out of the year.

It seemed like every time we would travel there we would sit at the pool and have this euphoric feeling that we could make it here and have a lot of fun. We always joked about how we could work in the hotel we would stay at but that never happened. when we went to the beach we would also talk about how I could become a life guard or a jet ski instructor...but that never happened either...it was all fantasy..I wanted to stick to what I knew and did the same with insurance..to this day...we are both in the same profession that we started in.

We figured if there wasn't anything that important to keep us there then why not just move. So one week in 1997...I decided to get on a plane and go down to Florida and play some golf. I didn't take my wife with me on this trip because my daughter just turned 1 yrs old and they were with me a month earlier there visiting my in laws. This trip was solely for me to just get away and play golf. Nothing else...I just left my Real Estate business behind and went to the links for some enjoyable rounds of golf and nothing but golf.

Little did my wife know but I was also driving to every new development looking to see if it was possible for us to actually purchase a home. Well when I spoke to her on the phone one evening...she asked me how my golf game was and I told her that it was pretty bad but I also told her I bought us a home. She almost freeked out on me. She asked me what we would do about jobs and how were we going to live? I said Simple..."we'll just sponge off your parents for a few months until we get settled." That actually made her laugh and she said to go for it.

We ended up having to wait about 6 months for the house to be built so we had ample time to prepare. We still had to sell the house in NY and we still had a lot of debris to get rid of because it was a very old home we ended up with from her late aunt. Everything worked out pretty well and we officially closed on July 2, 1999.

If I look back now at where we are I would have to say that it was the best move we ever made so if you want to have that Florida feeling why don't you come down and visit first and see what you might be missing.

You can't enjoy what you can't feel...feel it and enjoy.

There is so much to offer and you'll find that your enjoyment will never end.

For more information please contact Neal The Real Deal Bloom-CRS-Realtor® /Remax Premier Assoc.

2500 Weston Road ,Suite 103

Weston FL 33331

(954)608-5556

Weston FL Townhomes For Rent-San Simeon

Neal Bloom-Realtor ® Assoc.-CRS-Weston FL (RE/MAX Premier Associates) — Tue, 16 Sep 2008 20:57:33 -0500

NEAL BLOOM | REMAX PREMIER ASSOCIATES | nealb63@myacc.net | 954-608-5556

3719 SAN SIMEON CR, Weston, FL

3BR/2.5BA Townhouse

$1,700/month

Bedrooms	3
Bathrooms	2 full, 1 partial
Sq Footage	1,448
Parking	2 dedicated
Pet Policy	Small dogs (< 25lbs)
Deposit	$5,200

DESCRIPTION

GORGEOUS 3BR 2.5 BTH TOWNHOME LOCATED DEEP IN THE HEART OF WESTON...BLACK GRANITE KITCHEN COUNTERTOPS,CERAMIC TILE,AND BAMBOO HARD WOOD FLOORS THROUGH-OUT,SCREEND IN PATIO,FRESHLY PAINTED....THIS HOME IS LIKE NEW AND IN IMMACULATE CONDITION WITH A GREAT LOCATION.CREDIT,BACKGROUND AND CRIMINAL CHECK IS REQUIRED BY REMAX PREMIER ASSOC. FOR ALL OCCUPANTS 18 AND OVER $57 PER PERSON.

see additional photos below

RENTAL FEATURES

Air conditioning	Central heat	Walk-in closet
Hardwood floor	Tile floor	Family room
Dishwasher	Refrigerator	Stove/Oven
Microwave	Granite countertop	Attic
Washer	Dryer	Laundry area - garage
Balcony, Deck, or Patio	Yard	Swimming pool
Cable-ready	High-speed internet

COMMUNITY FEATURES

Garage parking

Guest parking

Swimming pool(s)

ADDITIONAL PHOTOS

Renter contact info:

NEAL BLOOM

REMAX PREMIER ASSOCIATES

nealb63@myacc.net

954-608-5556

Equal Opportunity Housing

Posted: Sep 16, 2008, 4:38pm PDT

All I can say in one word is..........uninhabitable

Neal Bloom-Realtor ® Assoc.-CRS-Weston FL (RE/MAX Premier Associates) — Mon, 15 Sep 2008 09:47:25 -0500

Last week I received a call from an out of state bank.

They found me through my blog....and wanted to know if I would be interested in listing an REO they had in inventory. I said ..."of course I would...where is it located?"

The property was located in another county but I wasn't too far and had some knowledge of the area. They explained to me that the property went into foreclosure and they were the new owners. They also told me that they were allowing the people who foreclosed on it to pay them a reduced rent and stay there.

The bank asked me to go to the home and take some photos and then give them my BPO analysis of what I thought I could list it at.

There were some other issues that were going on regarding these tenants and the bank instructed them to cooperate with me and let me have access to the property. I called and finally got an appointment to meet them...inspect and take photos of the property.

Before I went over to see it I was trying to visualize the situation. I figured I was going over to a home that was probably not in one of the best neighborhoods but I assumed I was going to meet a nice family that just happened to be down on their luck. I did this because I didn't want them to think I was there to throw them out but I also needed to have complete cooperation with giving other agents access the property and get it sold quick. I also figured the property probably was in fair condition.

Below are some photos of what I really walked into.....I was pretty surprised at what I saw

As you can see.... this is the exterior front view

Take a closer look at this shot of the front window...you'll notice the glass has been broken and there is a sheet covering the hole...I wonder if my showing instructions should read "Stick hand through window....turn left and rate lock."

That's how we had to get in when one of the tenants came to let me in.

I guess they were sending out their laundry.

This appears to be a the great room but I doubt they were watching any sporting events lately.

Although this home had window A/C units....it also had vents installed for central air but as you can see...that is no longer included.

I'm not sure what they were mailing but I don't think there was enough room for all these cement blocks

This photo shows that there is potential here.

As you can see ...it appears that the money must have run out and so did the people.

This could have once been a nice place to enjoy a backyard barbacue but I think they need a lanscaper first.

When I went back with my analysis I told them that it was virtually impossible to put a value on this property in it's unlivable and uninhabitable condition...but if it was cleaned up and renovated it would probably be values at a range of 165K-175K according sales over the last 90 days.

These are just a few of the photos....it's a whole lot worse...there was animal droppings and I would suggest a mold and or air quality testing.

The moral to this story is that from what I was told....a person paid 80K for this and was convinced into refinancing this with another occupant and then the equity was cashed out and gone. When the owner foreclosed ....they owned over 200K.

It actually turns out that nobody was living there but they were paying rent. I can also assure you that no one could live there in it's present state.

Go figure...I smell something...do you?

For more information please contact Neal The Real Deal Bloom-CRS-Realtor® /Remax Premier Assoc.

2500 Weston Road ,Suite 103

Weston FL 33331

(954)608-5556