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About Teresa
Teresa Turner, Realtor & Broker, with The Teresa Turner Realty Group at Keller Williams Town & Country Realty, is one of the most established and respected names in NW Florida Real Estate with 25+ years of experience in Residential Real Estate. Over that time, she has developed a superior pipeline of connections and is the go-to person for getting results in Residential Real Estate. She understands and cares for people and is excellent at coming up with unique marketing strategies to solve complex problems and get homes sold. She keeps your personal information confidential and considers discretion to be her duty in dealing with your real estate situation. Teresa maintains a strong work ethic and is committed to building relationships based on trust and integrity. She is a Real Person with Real Solutions to your real estate needs.
Tag Archives: tallahassee loan mods
Foreclosures are endangering people’s health!
Many homeowners in financial distress are now numb to all the talk about saving their credit or saving face by walking away from their homes, but there’s another twist to all this…Foreclosures are endangering people’s health!
That’s right, “sell or get sick”. A recent study in Philadelphia showed foreclosure stress leading to 41.3% of those in foreclosure having high blood pressure, a number approaching 10% for those suffering strokes of related issues like heart attacks and kidney disease rising 2.2% for those fearing losing their homes on top of diabetes issues and depression in general.
This financial downturn is really taking a toll on people’s lives and their health. If you are experiencing too much stress from financial issues, it’s important to take care of yourself by exercising daily, eating healthy, not drinking too much, staying grounded through your faith, and keeping a network of family and friends who support you. It’s not easy, but you will get through this.
Mortgage Loan Mods Not Working
I have had a number of clients recently who have contacted me about their loan modifications not working out the way they had hoped they would . Some of the stories include offers to modify their mortgage loans less than $100. per month or like this news story, canceling the trial loan modification after a period of time, and asking them to pay up thousand$ to stay in their home.
I wish it weren’t so, but this is what is really happening. The simplest way to get out is to short sale the property. To see if this is the best option for you, call me today for a confidential consultation. There’s never an obligation and discretion is my duty.
Bums No More – Mortgage Defaulters Good Risk
Housing Predictor just released an article about how lenders are starting to look differently at persons who defaulted on just their mortgages. I had a feeling this was coming because it has affected so many people from all economic sections. Almost everyone has been dealing with financial distess on some level, especially with real estate.
This survey by TransUnion, who is one of the largest credit reporting agencies, found that those who defaulted on their mortgage rebounded faster than others who failed to pay on their credit cards, car loans, and other miscellaneous bills.
This study is critical and sheds more light on consumer behavior in a challenging economy. To read more, here’s the link to the entire story…
http://www.housingpredictor.com/2011/mortgage-defaulters-good-risks.html
Posted in Short Sales
Tagged short sales tallahassee, tallahassee foreclosure help, tallahassee foreclosures, tallahassee loan mods, tallahassee luxury homes, tallahassee real estate, tallahassee realty, tallahassee realty services, tallahassee reos, tallahassee short sales, teresa turner realty, turner realty
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Upside Down ~ How We Survived 7 Short Sales
If you are going through a short sale (or several), then you must get a copy of this book and read it from cover to cover. I picked up this book last week and couldn’t put it down. I took it with me everywhere and read it at traffic lights, waiting on appointments, wherever I could until I finished it.Why? Because it resonated with me…and if you are going through a short sale, it will resonate with you too.
Many of my real estate clients are having to short sale their home and it’s not only a BIG financial decision, but it affects them and their families on a personal level. The emotions people go through when they have to short sale their home is much like the grieving process that people go through when they lose a loved one. Your home is supposed to be a place of love and safety, but the rules change once it becomes a financial albatross.
My real estate clients are all smart people who have worked hard and have enjoyed success in their professional lives. It makes me sad to know that one day they went to sleep and woke up the next day and their life started turning upside down. Their home was worth way less than what they owed on it. Their businesses that once paid them well dried up and their incomes were also way less than what they were accustomed to.The funny thing is they didn’t do anything to cause this, they were just going about their daily routines taking care of business as usual when the financial world changed almost overnight.
I have spent a lot time trying to figure this all out and at the end of the day, I know that there is a lesson in all this. We took on way too much debt personally and as a country and we needed to get back in balance. Does this mean we had to lose our homes, and in some cases our marriages and our families?
It’s not easy to be strong through the short sale process. This book, Upside Down ~ How We Survived 7 Short Sales, is written by Gregg Pechmann, who gives solid advice on how to tackle a short sale and deal with the banks to how to keep your family together during this stressful time.
I am giving a copy to all my short sale clients to read because I think the content is that good. If you are interested in learning more, go to http://theupsidedownbook.com/
US Census Gives Us Some Hard Numbers about the State of Housing
Here are the facts:
* America’s home ownership rate, after holding steady for a while, declined in Q4, from 66.9 percent to 66.5 percent. That’s down from the 2004 peak of 69.2 percent and the lowest level since 1998.
* There are 131 million housing units in this country. 112.5 million are occupied. 74.8 million are owned, and that’s only dropped by about 30 thousand in the past year. 38 million are rented, but that’s up by over a million year over year. That shows that new households are renting.
* Vacancies. There were 18.4 million vacant homes in the U.S. in Q4 ’10 (11 percent of all housing units vacant all year round), which is actually an improvement of 427,000 from a year ago. The number of vacant homes for rent fell by 493 thousand, as rental demand rose. 471,000 homes are listed as “Held off Market” about half for temporary use (non-primary residences). The other half are likely foreclosures. And no, the shadow inventory isn’t just 200,000, it’s far higher than that. According to this report, there will be 20,000,000 underwater owners (40% of all owners with a mortgage).
* Bottom line. Eleven percent of the houses in America are empty.
Anyone want to debate the direction housing will go in 2011-2014? I wonder when our industry will stop referring to underwater and bank owned homes as..’distressed’. Afterall, when nearly 50% of ALL homes in the US qualify as so-called ‘distressed homes’..dominating many major real estate markets..becoming the driving force for home sales…maybe we should just refer to these types of homes for sale…as…homes for sale!
Information provided by Tim & Julie Harris, Harris Real Estate University and the U.S. Census
