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Breaking News: Court Ruling Could Conceivably Prevent Real Estate Foreclosures on 60 Million Properties Making Real Estate Short Sales More Popular

My name is Robin Speronis and I am the Owner/Broker of Zen Real Estate of Southwest Florida, www.AskZenRealEstate.com, 1-877-890-0121 and a court ruling on September 12, 2009, could conceivably prevent real estate foreclosures on 60 million mortgages, including half of all residential real estate mortgages, and make real estate short sales a more popular option for lenders holding real estate mortgages on distressed properties.

In Landmark National Bank vs. Kesler, the Kansas Supreme Court held that Mortgage Electronic Registration Systems (MERS) has no standing to bring an action for foreclosure in that state. MERS is a private company that has recorded 60 million mortgages in its name, but is not the owner of the real estate mortgage note - it only services the real estate mortgage note. MERS brings foreclosure actions in its name on these real estate mortgages if they default.

MERS acts as a corporate shield protecting the lenders from claims of predatory lending. Often times these real estate mortgages were bundled, chopped up and sold. The original paperwork "disappeared" making it difficult if not impossible to prove that the lenders broke the law when originally making the real estate loan.

It is believed by some that MERS has reduced transparency in the real estate mortgage market by not letting consumers turn to the public records to learn the identity of the holder of their real estate mortgage. But also, MERS now brings real estate foreclosure proceedings in its own name - even though it is not the holder of the real estate mortgage. This is problematic for many reasons, one of which is because MERS is not prepared or equipped to provide responses to consumers' charges of predatory lending claims, etc.

As other state courts rule on similar lawsuits and the consumer becomes more educated as far as their rights in a real estate foreclosure action, real estate short sales will probably become a more popular option for lenders to dispose of their distressed real estate mortgage notes. Currently in Florida, only 24% of short sales close.

Please go to www.AskZenRealEstate.com and sign-up for your own MLS listings account - Listingbook - by submitting your name and email in the top right hand corner of the web site. Then you will have all the up-to-date, real time MLS listings at your finger tips.

BREAKING NEWS: Effective October 2, 2009 Southwest Florida Waterways Become "Critical Habitat" For Smalltooth Sawfish - This Could Effect Value Of Waterfront Properties

 My name is Robin Speronis and I am the Owner/Broker of Zen Real Estate of Southwest Florida, www.AskZenRealEstate.com, 1-877-890-0121 and the Endangered Species Act (ESA) requires the federal government to designate "critical habitat" for any species it lists under the ESA.

Many areas of Southwest Florida, including many of the Gulf access canals in Cape Coral, will be designated as critical habitat for the smalltooth sawfish on October 2, 2009. The smalltooth sawfish tend to live in red mangroves, a water depth of 3 feet and less and in saltwater.

The areas designated as critical habitat for the smalltooth sawfish is widespread in Southwest Florida and the designation would require federal input should people wish to remove large sections of mangroves to construct a marina, for example, or if dredging occurs in order to build docks, boat lifts or seawalls, etc.

The question for buyers and sellers of waterfront property is, will a permit for a dock, boat lift, seawall, or other marine improvement be approved and if it will be approved, then how long will the approval process take. Permitting in the recent past, because of a Manatee issue could take 6 months to 2 years - if at all.

Buyers and sellers must be aware of this potential permitting issue before making their buying or selling decisions because waterfront homes with dockage, etc. should be more valuable and those without should be less valuable - at least for the short term.

You are invited to visit www.AskZenRealEstate.com and sign up for your own MLS listings account - Listingbook - by submitting your name and email in the top right hand corner of the web site. Then you will have all the real time, up to date MLS listings at your finger tips, the best and most efficient way to search all the property listings in Southwest Florida.

Breaking News: Cape Coral May Get $35 Million Swimming Complex and Wellness Center plus a$250 Million Hotel/Convention Facility

My name is Robin Speronis and I am the Owner/Broker of Zen Real Estate of Southwest Florida, www.AskZenRealEstate.com, 1-877-890-0121 and the National Swim Center Corporation, supported by USA Swimming announced today that they are interested in building a $35 million Swimming Complex and Wellness Center, and a $250 million Hotel/Convention Facility in Northwest Cape Coral.

 

 

Other phases of the project could include two more hotels, a USTA tennis center, shops, restaurants and a business park for a branch college campus

 

If a feasibility study indicates the site is right for the facility and all parties come to terms, then hopes are to have the swimming, hotel/convention center complex constructed by 2013

Under valued Cape Coral property is now maybe looking even better.

Please go to www.AskZenRealEstate.com and sign up for your own MLS listings account - Listingbook by submitting your name and email in the top right hand corner of the web site then you will have all the up to date Cape Coral MLS listings at your finger tips.

BREAKING NEWS: Failed Banks' Mortgage Note Loans Being Autioned Off At Record Pace

Part of the cure to the nation's financial ills involves selling off loans and other assets from failed financial institutions. The Federal Deposit Insurance Corp. (FDIC) is the primary actor in this sell-off, and the government has already transferred more then $12 billion in assets to private investors at pennies on the dollar for non-performing assets (pre-foreclosures).

My name is Robin Speronis and I am the Owner/Broker of Zen Real Estate of Southwest Florida, www.AskZenRealEstate.com, 1-877-890-0121 and ever wonder who really owns that foreclosure that is being listed at below market value and thus receiving multiple bids in the first few days???

 Well the tax records say Washington Mutual - weren't they closed by the Government?

That owner could be your Millionaire Neighbor, or a Real Estate Company, Private Equity Fund or Hedge Fund. The owner could be an International Investor or a Local Firm or Local Wealthy Private Investor.

There are three ways in which the FDIC sells assets of failed institutions:

- Sell Off Assets At The Time The Bank Is Seized

- Sell At Online Auctions (DebtX.com or FirstFinancialNet.com)

- Pooled Together In LLC's And Then Sell The LLC

Debt X has been called the "Hottest Auction in Town" by CNBC. The interested investors must make a $100,000 deposit to participate. Once that deposit has been paid and other investor information is verified, then investors are provided with all the information that the failed bank would have seen when it made the loan in the first place.

Trouble notes are being sold at Online Auctions for pennies on the dollar at triple the rate of a year ago. There are opportunities in Southwest Florida Real Estate at every level today, but note buying offers bulk opportunities if you do your home work.

If you are a private investor and would like to invest in the most profitable Real Estate market - Southwest Florida - by purchasing notes and need some help with your Due Diligence of Southwest Florida properties, please contact Robin Speronis at 1-877-890-0121 ext. 702

If you are a retail buyer of Southwest Florida property please go to www.AskZenRealEstate.comand sign-up for your own MLS listings account - Listingbook by submitting your name and email in the top right hand corner of the web site to have all the up to date MLS listings at your finger tips.

 

 

 

 

Breaking News - Southwest Florida City To Be The First And Largest All Solar Powered City In The World

My name is Robin Speronis and I am the Owner/Broker of Zen Real Estate of Southwest Florida, www.AskZenRealEstate.com, 1-877-890-0121 and Babcock Ranch in North Lee and South Charlotte counties announced a partnership yesterday, 4/9/2009, in Washington, D.C between developer Kitson & Partners and Florida Power and Light to build a 75-megawatt solar plant on 400 acres. The plant will generate all of the electricity for the planned town, Babcock Ranch, of 45,000 people and create 400 immediate jobs.

 The photovoltaic plant - one that coverts the sun's energy into electricity without the need for thermal energy - would top Germany's 40-megawatt solar facility, the biggest to date.

The City of Babcock Ranch was created as an integral part of the largest single land acquisition for preservation in Florida history - 73,000 acres and is expected to be Southwest Florida's City of Tomorrow by embracing nature, community life, innovation and technology.

 Please go to www.AskZenRealEstate.com and sign-up for your own MLS listings account - Listingbook by submitting you name and email in the top right hand corner of the web site and then you will have all the current MLS listings in the Babcock Ranch surrounding area at your fingertips.

 

Breaking News: Cape Coral's Abandon Property Ordinance Set to Take Effect

My name is Robin Speronis and I am the Owner/Broker of Zen Real Estate of Southwest Florida, www.AskZenRealEstate.com, 1-877-890-0121 and in 2008 Cape Coral, Florida had more foreclosures then any other place in the country.

   Keeping with it's history of being pro-active, the City of Cape Coral passed an Abandon Property Ordinance in December, 2008 designed to curb the problem of properties that lie abandoned and threaten areas of the Cape with future blight as they go through the lengthy foreclosure process.

All mortgages have clauses that allow the mortgage holder to secure the property and protect their interest if a property is abandoned and the City of Cape Coral is going to require that the banks do just that.

Beginning March 1, 2009, lenders must register a local agent that is responsible for any property that the lender has started a foreclosure on with the City of Cape Coral. Then beginning May 1, 2009, each home going through the foreclosure process must be inspected by the lender twice a week. The City of Cape Coral will require that lawns are mowed, pools are secured and clean, electric and water are on, etc. to prevent future blight to the City of Cape Coral.

For an up-to-date list of Bank Owned properties and more sign-up for a MLS listings account - Listingbook by submitting your name and email in the top right hand corner of the web site www.AskZenRealEstate.com