Christmas in Hernando County, Florida

Saw a fantastic article by Michael D. Bates in the Hernando Today newspaper…Here’s an excerpt that I thought was worth sharing…

Ten things you can do on Christmas Day in Hernando County that you can’t do in the north:

  1. Go Christmas caroling in your shorts and T-shirt.

  2. Open your new bicycle or skateboard and go outside and use it immediately.

  3. Call your relatives and friends in New York from the comfort of your outdoor hot tub.

  4. Go to Pine Island and swim in water – not walk on it.

  5. Take pictures of you in your swimsuit, download them and send them to your friends shivering in below-30 temperature zones. Make sure you include the greeting, “Wish you were here!” (It drives them nuts).

  6. Give your northern relatives here for the holidays a tour of your closet to show them all the room they would have if they didn’t have it filled with down jackets and parkas.

  7. Go to Veterans Park with those same visitors, have a barbecue, play volleyball and remind them they will have to wait at least half a year to do that where they live.

  8. Wash and wax your car, but make sure you have adequate sun screen protection.

  9. Bend your elbow and enjoy a highball instead of a snowball.

  10. Be thankful your only contact with salt is from a shaker and not from a 60-pound bag in your garage.

To be fair, the article also had a list of 10 things you CAN’T do during the Christmas Season here in Hernando County…but you’ll have to go to the original article to read that part.

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Loan Modifications…Looking Back – How’re We Doing?

This post came about after reading this article at CNNMoney.com about how we’re doing with the Loan Modifications.

I’ve said it before, and I’ll say it again (and you don’t have to like me for it…but I feel it’s the truth). Capitalism must be allowed to play itself out. You cannot change the rules of a game that is already set in motion and so indoctrinated into the very fabric of our economy it might as well be likened to Gravity in Nature.

Bailouts, whether for the financial industry, or the auto industry, or any other industry are band-aids…short term fixes that wear off and lose their stickiness after a relatively short time. The problem – as I’ve said before is that we’ve got a broken leg, and you can’t fix that with a bandaid. A broken leg must be re-set (and it’s going to hurt, big time) and then allowed to heal over time if it’s ever going to mend properly.

Do I feel bad for the people losing their jobs in the auto industry and the people who are losing their homes to foreclosure? Absolutely. They are the casualties and unfortunately most of them had no say in how it went down – the blame and fault doesn’t lie with them.

But regardless of how I may feel about them and their situation, companies that make cars that people don’t want to buy are supposed to go out of business. Companies that are mismanaged to the point where they need BILLIONS of dollars in taxpayer money to sustain them for just a few months are absolutely supposed to go out of business. People who bought a home they couldn’t afford because they thought they’d be fine and able to figure it out the details later CANNOT keep their homes (as much as we’d all like that to be the case…).

That’s trying to cheat the game…it’s trying to work against gravity…but gravity is a natural law…it’s the rule of the game…you can’t change it and fighting it will only put you in a worse position than you were in beforehand.

Does it hurt? Like setting a broken leg – yes it does. Is a bailout going to help? In the short term – perhaps…in the long term…absolutely not. Funds transferred to a company that is unable to turn a profit are not funds well-spent. Even if it keeps you in business for an extra 4 months. Loans modified to help you keep the house you couldn’t afford to begin with…? While it may “feel” better in the short-term…it’s a band-aid on the American Economy’s broken leg…and that’s NOT helpful in the long run.

Capitalism…this game…must be allowed to run its course…as much as it hurts to do so – it will hurt more if we try and reverse gravity.

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Government Funds for Neighborhood Stabilization Coming to Hernando County

Are you tired of looking at that broken-down foreclosure across the street with the waist-high weeds and broken window?

You may not have to worry much longer!

Hernando County is now eligible for up to 5.6 Million Dollars in Federal Aid to help mitigate the foreclosure situation and repair/restore some of those broken homes.

Government Funds for Neighborhood Stabilization Coming to Hernando County
Homes like this may be helped by these funds and
re-sold or rented to low-medium income families.

My understanding is this…Government gets up to 5.6 Mil to purchase homes that are in foreclosure and/or blighted (unliveable) in Hernando County. The government can then either rehab the homes and sell them, or tear them down and either rebuild the home or sell the dirt. 25% of the funds must be used specifically for low-medium income housing (families whose incomes do not exceed 50% of the median area income). The homes that are not re-sold will most likely be rented out.

The purpose of this program is to stem the tide of this declining market….but is it really going to help? I’m not 100% convinced…I definitely get the intent and it’s noble and good and whatnot…but let’s use an example to illustrate my thinking…

You own a home in Spring Hill…there are two homes on your street that have been foreclosed and are really in pretty bad shape. They’ve been for sale for a while, but nobody’s jumping on them…they’re too much work for a homeowner who has other options, and they’re just not priced low enough for an investor to make the move.

The government buys both houses, renovates them and makes them pretty again, and then re-sells them….here’s the problem… it takes time to renovate a house (I know, I’ve done 4 homes in the past 5-6 months). The market is declining at about 3% per month, and the government is not selling these to people who are paying above market-value for them…they’re going to put them out on the open market just like any other seller…and they’re going to compete for the same buyers (all of whom are looking for a smokin’ deal)…only…the government doesn’t have any money directly invested in the homes, and they aren’t required to necessarily turn a profit on them….so they have a different base to start from when they’re selling and competing with you for that buyer…that one buyer/month who is looking for a home like yours (and theirs)…they can lower their price easier than you can…and once they sell for less…they become the newest comp for you (twice over, because they initially bought at a discount because the house needed work).

So…the government buys at a discount, fixes up, and then sells at a discount or rents to low-income families…does that really help you? In some ways, yes…you no longer have to drive by that house and see it looking all broken…but…if you’re trying to sell at the same time…they’re not really lowering the inventory…they’re improving your competition, and going after your buyer.

That’s my concern…Two sides to every coin, I suppose. Only time will tell.

What are your thoughts?

For more information, please see the following:

US Department of Housing & Urban Development (HUD)
Florida Department of Community Affairs
article by Barbara Behrendt at The St. Pete Times
Press Release from Gov. Charlie Crist
Information Page from StableCommunities.Org

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We are thankful every Sept 11th

to see all those people who participate in the Spring Hill, FL, YMCA’s Run to Remember. We drive past them in Seven Hills while taking my daughter to school, and I know those are images she will never forget. We will never forget!

911+flag We are thankful every Sept 11th

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Build Houses in Hernando County Florida and Sell Them for a $50,000 Profit in 3 Months!!!

Unfortunately folks – that ship has sailed – and it sailed around two and a half years ago. Got your attention though, didn’t I?

The issue with this attractive yet implausible investment strategy is that the average consumer really doesn’t know what the market is doing until (at least) 6 months later. Even REALTORS need 2-3 months to spot a trend. That’s not to say that the really good ones can’t predict trends based on past experience (somewhat accurately)…but even they never really know what’s happening until after it starts to happen.

For example – many people think the Real Estate Market here in Spring Hill, Florida peaked in 2005…some even think it peaked some time in 2007… In actuality, if you look at the market statistics, the market peaked Read more

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Foreclosure vs Short Sale…What should YOU do?

This has been a topic of interest lately with quite a few sellers that I’ve talked with over the past few months… Here are a few articles that I think might be helpful if you are in such a position.  I will add to this list over time as I find articles that are worth while.  Take a look, read through, and if you have any questions, don’t hesitate to call me any time at 352-397-5182.  My cell phone is on 24/7 for all my customers and it’s my pleasure to make myself available.

Short Sale and Foreclosure Effects on Credit: http://homebuying.about.com/od/4closureshortsales/qt/060907SScredit.htm

How to Do a Short Sale: http://www.ehow.com/how_8132_short-sale.html

Short sale vs foreclosure?: http://answers.yahoo.com/question/index?qid=20070825084435AAm1Pv5

Joshua P. Hanoud
Experience a Higher Level of Service!
Tropic Shores Realty
http://www.HernandoLuxuryHomes.com
Josh@HernandoLuxuryHomes.com
24/7 Cell:  352-397-5182

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