September 11th, 2009
I never thought I would say this, but I just had a relatively easy short sale closing.
I’ve done quite a few in the past year, and every one was headache, shortest before now was 5 months, the longest 8 months. Most that time spent making sure they had the complete package. For those who haven’t had the pleasure of these deals, one has to put together the package, which has the listing contract, sales contract, distress letter, financial papers of the seller and whatever that particular lender thinks it needs. Many times, stacks 2 inches thick, then you must put the loan number on each page and fax it to them. I remember naively asking the first time if I could overnight it, NO it must be faxed to the processing center, where they promptly lost parts. Weeks would go by and when you finally got a hold of someone, they would tell you what they didn’t have and you would start again. Of course every time you would call you would get a different person, who didn’t know anything. I finally could tell after awhile, when they answered the phone if they would or could help, if they sounded like a idiot I would just hang up and call again to get a person who might help me. After the third or forth person, I would get a person who cared. I asked over and over why don’t you let us overnight it, why can’t one of those dozens of phone people or fax processors be assigned to take the overnights, make sure its complete and walk it to the next level.
Well guess what, the short sale that closed today was 8 weeks! I called the lender, Bank United, they asked my address and within 2 days I had a letter with what they wanted. I overnighted it to them, they called and said it was complete they assigned one person to oversee it, gave me her email and direct number. I almost fainted. She worked very hard to get in front of the various committees, when they asked for something she got on the phone and called me.
I’m praying if I get any more, that the lender will be that bank, great job guys. Now I hope all the lenders will take note.
Debi Varelis
Sato Real Estate
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September 3rd, 2009
Our own Megan Fischbach turned the BIG 30 this week!
Megan handles bookings of our luxury Beach rentals and vacation homes. She grew up with sand between her toes right here on Anna Maria Island! As usual at Sato Real Estate, we like to celebrate and in our office that means cake. We will all toast Megan on our first Friday celebration tomorrow, come by and raise a glass to the birthday girl!
Debi Varelis
Sato Real Estate
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August 11th, 2009
Life & Leisure Writer J.G. Nash had only wonderful things to say about the paradise we call home! Anna Maria Island, our beaches, our restaurants, small town family atmosphere. Read it yourself and be proud you were here first!
http://www2.hernandotoday.com/content/2009/jun/21/hb-beaches-buses-and-bistros/
Debi Varelis
Sato Real Estate
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August 6th, 2009
Tomorrow is the day for our First Friday celebration here at Sato Real Estate! So leave the beach early, take a afternoon off from fishing, beach-combing and boating to stop by, have a snack and drink with us here at 519 Pine Ave. in Anna Maria. All are welcome, can’t wait to see old friends and welcome new ones.
Debi Varelis
Sato Real Estate
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August 3rd, 2009
Interesting articles coming out now, my favorite is “The Freefall is over”. To call what we have been though as a nation a recession is putting it mildly, but that we are beginning a recovery is likely. I remember in school, (not going into how long ago that way), simple economic indicators would tell economists how the country was fairing. Well folks the little needle has moved a little to the left! The “freefall” of equity loss has stabilized; I found it interesting that the doomsayers have reported of $4 Trillion loss of equity. Actually how much of that 4 trillion was inflated?
Is your home worth as much as it was before the bubble? I know my own home is up in value, not by much but still up from 2004. If I had sold it during the bubble I might have made a bundle, but you know what, I love my house. I would also have bought at an inflated price and might be in serious trouble now. There is a great web site out there www.zillow.com that you can type in the address of your home and it will give you the statistics. A great chart will show values for 1 year, 5 years or 10 years, in dollar amounts or percentages. I don’t believe zillow is right about estimate of value, there are too many intangibles that software can’t compensate for.
Anna Maria Island has been spared, at Sato Real Estate we felt the freefall, and we winced when we heard of a foreclosure or another property going short sale. We advised our clients to take their properties off the market if they didn’t have to sell. We were blunt and honest about pricing homes, telling many what they didn’t want to hear. Revamping our style to include talks of owner financing, preapproval letters and 20% down. Our rental department has flourished as folks have turned to rental income to help offset the costs of a second home.
We will be the first to recover; our beautiful white sandy beaches and the gorgeous warm waters of the Gulf will always be the destination of many. Tourists, retiree’s or second home buyers are out there and they are looking!
Debi Varelis
Sato Real Estate
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July 31st, 2009
The esteemed New York Times has put Anna Maria Island on the map. We got raves for our sandy white beaches, our laid back community and the best restaurants around. Old Florida never looked so good, as the writer captured our ambiance in word and photographs. I think I’ll go sip a Mojito on the deck at The Sandbar tonight and try to guess what time the sun will set!
Check it out:
http://travel.nytimes.com/2009/07/26/travel/26choice.html?ref=travel
Debi Varelis
Sato Real Estate
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July 30th, 2009
A lot of discussion lately about the economy. Have we hit bottom, are we turning around, are the home prices stable, is it time to jump in and see how the market fares? I read a lot blogs, financial columns and of course the newsletters from our Multiple Listing service. All are contradicting each other, its hard sometimes to ferret out the truth. Sometimes we have to rely on what we see with our own two eyes.
According to our own MLS:
Single Family Homes listed Active-211
Under contract-21
Sold in last 3 months-23
Condo’s Listed-254
Under contract-29
Sold in last 3 months-29
What does this mean to us? The biggest thing that pops out at me is inventory is down from almost 800 homes 3 years ago. This is a very good thing. The amount of pendings and closings are in a normal range, not the bubble range, that is what got us into this mess.
What I know is in the last few weeks we have had more showings that we have had in a long time. We are getting calls everyday, and it’s interest from people who want to live in a house rather than investors.
Anna Maria Island does have short sales going on, we do have foreclosures, but luckily we have not been hit as hard as the rest of Manatee County. We are in a special place that people will always want, our beaches, our atmosphere, our community. Its hard to feel lucky when so many are suffering, but I do!
Debi Varelis
Sato Real Estate
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July 16th, 2009
I love em!
I know unbearably hot and humid, a/c set so low that your glasses fog up when you walk outside. A wave of heat like a sauna blast hits you as you open the car door and the steering wheel is slowly but surely branding the inside your hands. Everyone wants leather seats the world over, except in Florida, we prefer fabric and the skin on the back of our legs, if you please.
Lets not mention the summer proliferation of the things that crawl! Try explaining a giant flying cockroach, is not a cockroach to someone from England. His response was “WHO CARES, it was 3 #*#* inches long!” our infamous Palmetto Bug strikes again.
One recent visitor to our Island called our office several times last week, very worried, surely those thunderstorms of last week were a hurricane brewing. There is no doubt that just a short 100 years ago, most of the Island was a jungle.
So whats to love? Summer, sparkling white beaches, the special blue green of the water, the impossibly blue sky with those cotton ball clouds. Even our storms are magnificent, there is nothing like watching a lightning storm over the Gulf or feel the relief of the rain. Its when you know there is a higher power, when you feel like thanking Someone for the sunset!
Our visitors love Anna Maria Island and that Sato Real Estate, www.satorealestate.com offers quality Anna Maria Island Vacation Rentals and we guarantee that it will be interesting if you come in summer!
Debi
Sato Real Estate
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June 15th, 2009
The hospital system wasn’t quite finished with me, today is my first day back at work. Barbara knows the way to my heart, FOOD preferably chocolate. I’ll get this blog rolling again in no time!
Debi
Sato Real Estate
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March 31st, 2009
I got off to such a great start with the blog and then boom, I was thrown for a loop with illness. So after 2 long months of poking and prodding by several of our finest Doctors, I was diagnosed with a non lethal ailment, stitched up and put out to heal. Barbara tried every way to get a picture of me, looking oh so lovely, but (yea!) couldn’t. She does have a devious side so I don’t think I’m out of the woods yet on that count.
Some things I missed that I would have blogged about:
Monica’s 34th birthday (again). Happy Birthday Mon!
Last months first Friday, the most attended since we started.
Upturn in sales at Sato!
Great rental season, fully booked and loaded!
I will come back and expand on some of these in future blogs, I need facts!
Debi Varelis
Sato Real Estate
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