The foreclosure process in Florida is a lawsuit with take about two to three months. It sometimes takes longer ifthe defendant takes some action to delay it. The process starts with a Lis Pendens and ends, if necessary with a Sheriff’s Set Out.

(This information is not to be considered legal advice. Foreclosure laws differ state by state. I am not an attorney and I recommend that you seek legal advice if you have questions about foreclosure. I am a real estate broker and can only give real estate advice. This is simply my understanding of the Florida foreclosure process. Just so you know, this information may be incorrect.)

When you purchased your home you signed a lot of documents at closing. Two of those documents were the mortgage and the note. The mortgage pledges the property as security for the debt which is owed. The note is basically your promise to pay.

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This post contains a link to photos of a man having been swallowed by an Anaconda. There are no photos in this post for the sake of sensitivity.

I’ve been working with a lot of short sale clients and I often picture our current foreclosure problem in the housing market like a pig having been swallowed by an Anaconda.  It is just going to have to work its way through the beast.

I recently came across this advice on what to do if you are attacked by an Anaconda.  This is an excerpt from the U.S. Government Peace Corps Manual for volunteers working in the Amazon jungle - what to do if an anaconda attacks you.

Related to the boa constrictor, the anaconda is the largest snake species in the world. It grows to thirty-five feet in length and weighs three to four hundred pounds.

1. If you are attacked by an anaconda, do not run. The snake is faster than you are.

2. Lie flat on the ground. Put your arms tight against your sides, your legs tight against one another.

3. Tuck your chin in.

4. The snake will begin to nudge and climb over your body.

5. Do not panic.

6. After the snake has examined you, it will begin to swallow you from the feet end - always from the feet end. Permit the snake to swallow your feet and ankles. Do not panic!

7. The snake will now begin to suck your legs into its body. You must lie perfectly still. This will take a long time.

8. When the snake has reached your knees, slowly and with as little movement as possible, reach down, take your knife and very gently slide it into the side of the snake’s mouth between the edge of its mouth and your leg, then suddenly rip upward, severing the snake’s head.

9. Be sure you have your knife.

10. Be sure your knife is sharp.

And now, about foreclosure…

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That’s the headline of a National Association of Realtor’s press release about the state of the housing market.

“Existing-home sales are projected to trend up in 2008, with pending home sales showing a slight near-term rise, according to the latest forecast by the National Association of Realtors® (NAR). ”

The release further said, “Existing-home sales are likely to total 5.67 million this year, the fifth highest on record, rising to 5.70 million in 2008, in contrast with 6.48 million in 2006. Existing-home prices should be down 1.9 percent to a median of $217,600 for all of 2007, and then rise 0.3 percent to $218,300 in 2008.” 

About mortgage rates it said, “The 30-year fixed-rate mortgage is estimated to rise slowly to the 6.4 percent range by the end of 2008, with additional cuts in the Fed funds rate lowering short-term interest rates.”

Please contactme, Dan Forbes, or call if you have questions about our Bradenton, Florida real estate market at 941-746-0505; toll free 877-646-8326.  Visit my web site BradentonFloridaRealEstate.com 

From multiple sources, we are seeing good news. Finally!!

This week Treasury Secretary Henry Paulson, with the support of President George W. Bush, unveiled a plan to aid certain homeowners who face the prospect of higher mortgage rates in the next few years.

Can you get your mortgage payments lowered because of the bailout?

It depends. If you’ve got an adjustable-rate mortgage, you may qualify under certain conditions. If you’ve got a standard mortgage with a fixed interest rate, you’re not affected.

Read the details here.

Please contact me, Dan Forbes, or call if you have questions about our Bradenton, Florida real estate market at 941-746-0505; toll free 877-646-8326.  Visit my web site BradentonFloridaRealEstate.com 

When I started real estate in 1994 our local MLS book was printed once a month.  The internet was in its infancy with no real estate listings available to consumers.

When you took a new listing it could be a month before other agents in your MLS even knew about it and even longer then for buyers to find out about. 

So, several things happened.

1. Real Estate offices conducted once a week “caravans” so the office agents could see the new listings.
2. Some Boards conducted “caravans” so agents could see the new listings of other offices.
3. Buyers drove around looking for yard signs.
4. Agents held Open Houses to expose their new listing to buyers.

Open Houses as an effective method for finding your next home was somewhat successful.  It made sense to visit Open Houses in 1994.

Fast forward to 2007.  Things have changed:

1. Buyers have access to the MLS through agent websites and have INSTANT access to new listings. Try BradentonFloridaRealEstate.com
2. Agents set up buyers on email plans that INSTANTLY send them new listings as they are entered into the MLS.  Try our VIP HomeFinder Program
3. Buyers can see multiple photos of the home for sale.
4. Buyers can walk through the home virtually using their computer in the comfort of their own home. See BradentonRealEstate.com
5. Agents no longer have to hold Open Houses for buyers to find the home for sale.
6. 1000’s of web sites are available for buyers to find homes for sale.

The most recent NAR (National Association of Realtors) Survey of Home Buyers reveals how buyers first learn about the house they purchse:

• 36 % their agent found the house for them
• 24% the buyer found the house on the internet
• 15% found the house by the yard sign
• 8% through a friend, or neighbor
• 5% print or newspaper ad
• 3% directly from the seller
• 1% homebook or magazine
• <1%  Buyers are no longer finding the house they purchase by attending an open house.

NAR President, Thomas Stevens, says of the survey, “The real estate industry today bears little resemblance to the way we did business 10 years ago. It is hard to find another industry that has adopted technology so readily to its customers.”

If you are still visiting Open Houses, you are using old methods that just don’t work today. 

The BEST way to find a home is to work with a great REALTOR (like me) and to use my web sites. 

Please contact me, Dan Forbes, or call if you have questions about our Bradenton, Florida real estate market at 941-746-0505; toll free 877-646-8326.  Visit my web site BradentonFloridaRealEstate.com