Robert Calistri's, blog,

Downtown Luxury St.Pete Penthouse Condo with new wood floors and new appliances. Near Baywalk, Shopping, Restaurants, Theater, Waterfront, Parks, USF, Museums, Tropicana Field. Plenty of nightlife with music, dining and theaters within walking distance from this beautiful condo with partial water views of Tampa bay from the patio. This unit comes with 2 parking spots under building. This 1200+ square foot condo has 2 master bedroom suites with large walk in closets in both, 2 baths, and laundry room with washer & dryer in unit and plenty of storage. This is a top floor Penthouse unit with 10 ft. ceiling. Garden style courtyard with Heated Pool & Spa, Fireplace & Grill. The amenities include a Fitness center, Club & Community room, Gated covered reserved parking & elevators. This association is still funding escrows reserves unlike other buildings in the area. There is plenty of sitting areas in the garden courtyard with fountains, unbrellas with tables & lounging chairs. $269,900.

The Courtyard at night.

Bob Calistri, Broker
Real Estate Auctions, llc

www.realestateauctionsllc.com

Bob@realestateauctionsllc.com

Today, in three months and 3^rd quarter of next year.

Once again the news is bad so when will it change? I believe the down stock market will begin to change in 60 days. It will take that long for all the Fed bail outs to start to take effect. Until then it should stay pretty flat. But don't expect the bounce back to be a rocket.

The real estate market will finally will bottom in 3rd quarter of next year. It was pretty much like that in the mid to late 1980's. Then the return will be slow for a few years. In 2004 I predicted the melt down of the real estate market so hang in there will get better.

 Now if I can only pick the lotto numbers for this week.
Bob Calistri, Broker
Real estate Auctions, llc.

www.realestateauctionsllc.com

bob@realestateauctionsllc.com

Florida Real Estate Auction Rules

Unlike some states the State of Florida requires all auctions of real estate to be overseen by a Licensed Real Estate Broker. The reason for this is the regulators felt that a real estate professional is the only person who has the knowledge of the real estate market. Therefore, many auctioneers who are not real estate brokers must employee a licensed real estate broker to introduce the property prior to the auction. I have attached to this email the regulation which shows this information.

Bob Calistri, Broker
Real Estate Auctions, llc

www.realestateauctionsllc.com

bob@realestateauctionsllc.com

Auction by sealed bid. All bids must be received by October 25, 2008. 1307 Gulf Way, St Pete Beach, Florida 33706

www.realestateauctionsllc.com

bob@realestateauctionsllc.com

AUCTION DATE SATURDAY, JAN. 31, 2009 AT 12 NOON. THE PRICE LISTED IS THE STARTING BID AND THERE IS A RESERVE. This income producing property is located in Clearwater with easy access to Beaches, and downtown. The triplex is on an oversized corner lot 102x120. There are Two units in the front building each having 2 bedrooms and 1 bath. The rear house has 2 bedrooms and 2 baths. All units are occupied. The property can be used as an office location.AUCTION DATE SATURDAY, JAN. 31, 2009 AT 12 NOON. THE PRICE LISTED IS THE STARTING BID AND THERE IS A RESERVE.

THE PRICE LISTED IS THE STARTING BID AND THERE IS A RESERVE. A 10% buyers premium will be added to the last and highest bid to create the purchase price. Property is being sold as is, where is and with no contingencies. All commissions are paid from the buyer's premium.
Bob Calistri, Broker
Real Estate Auctions, llc

www.realestateauctionsllc.com

bob@realestateauctionsllc.com

bob@realestateauctionsllc.com

3900 Gulf Blvd, St Pete Beach, Florida

This property would make a great single family home site; it is just steps to an exclusive beach access to the Gulf of Mexico, for the person who is looking for a compound setting in Florida. The property is located on St Pete Beach, one of the best beaches in the world and is surrounded by multi million dollar homes. This Private St. Pete Beach access property is only two blocks from the landmark Don Cesar Hotel. The property is less than 100 ft. to the beach access, with no streets to cross.

The owner is motivated but will start building soon and at that time the price may increase accordingly. Reduced from $3,900,000 to $2,950,000

Bob Calistri, Broker
Real Estate Auctions, llc

www.realestateauctionsllc.com

bob@realestateauctionsllc.com

Real Estate Auctions,

Commercial Strip Center in St Petersburg, Florida

Bob Calstri, Broker
Real Estate Auctions,llc

www.realestateauctionsllc.com

bob@realestateauctionsllc.com

Here are some of the new guide lines as written by the HUD. I find them very interesting. They allow under the program, the lender of an existing subprime mortgage forgive part of the debt as if it's a short sale, and the balance of the mortgage is rolled into a fixed-rate FHA mortgage.

Borrower eligibility

Borrowers should contact their lender to determine eligibility. General requirements include:

· The home is their primary residence, and they have no ownership interest in any other residential property, such as second homes.

· Their existing mortgage was originated on or before Jan. 1, 2008, and they have made at least six payments.

· They are not able to pay their existing mortgage without help.

· As of March 2008, their total monthly mortgage payments due were more than 31 percent of their gross monthly income.

· They certify they have not been convicted of fraud in the past 10 years, intentionally defaulted on debts, and did not knowingly or willingly provide material false information to obtain their existing mortgage(s).

How the program works

The Board expects homeowners will participate in the program primarily through their current lender. HOPE for Homeowners includes the following provisions:

· The loan amount may not exceed a maximum of $550,440.

· The new mortgage will be no more than 90 percent of the new appraised value including any financed upfront mortgage insurance premium.

· The upfront mortgage insurance premium is 3 percent and the annual mortgage insurance premium is 1.5 percent.

· The holders of existing mortgage liens must waive all prepayment penalties and late payment fees.

· The existing first mortgage must accept the proceeds of the HOPE for Homeowners loan as full settlement of all outstanding indebtedness.

· Existing subordinate lenders must release their outstanding mortgage liens.

· Standard FHA policy regarding closing costs applies.

· The borrower must agree to share with FHA both the equity created at the beginning of this new mortgage and any future appreciation in the value of the home.

• The borrower cannot take out a second mortgage for the first five years of the loan, except under certain circumstances for emergency repairs.

Bob Calstri, Broker
Real Estate Auctions,llc

I recently was talking to another realtor who has only been in real estate for about 3 years. He asked me "How you not get depressed when you list properties or take buyers out and nothing happens". He further asked don't you feel bad when a customer takes the property you have work on selling for 6 months to another realtor. At first I didn't know how to answer because the truth of the matter is I do get depressed and sometimes feel I am not doing a great job. But, I see day after day that one property moves from one realtor to another, and then in 6 months to another. So, it's not me it's the market.

I can't blame a seller to want to try another agent if the property doesn't sell. They feel we may not be doing our job and perhaps someone else will do a better job. We know that this is not the case; most of us in a depressed market area are doing all the right things to sell a listing. Most sellers forget that we don't make any money unless the property sells. And, most of us spend money advertising the property and when the seller moves on it is our money that is lost. It is a part of the job.

In the late 1980's into the early 90's we were in the same market and when the market came back those that survived it were the top people in the game. We need to get past this problem and we will all be better off. It is understandable to get depressed everyone does, but you need to get past it and you will better off in the end. The real estate market is a market that runs in a cycle. It will start up in the next year and I believe that the worst is behind us. What are you thoughts are you a survivor?

Bob Calstri, Broker
Real Estate Auctions,llc

www.realestateauctionsllc.com

bob@realestateauctionsllc.com

I have found that many buyers don't know what they need to bring when they go to for a loan aplication. This not only for the first time buyer but many other buyers forget what they need and this slows down the process. I give them the information below to help them.
 
This is the information that is need for your loan application:

1. Your Address- landlord's address and phone or lender and loan number.
2. Name, address and phone number for each employer - 2 years.
3. Gross monthly salary, YTD pay stub and past 2 years W2's.
4. Check and saving, retirement accounts - last 2 months statements.
5. Dept - Name, address, account numbers, balance and monthly payments.
6. Loan information, market value and addresses on all real estate owned.
7. If self-employed - tax returns for the last 2 years - signed all schedules.
8. If commission, interest or bonus income received - tax returns for past 2 years - signed all schedules.
9. Completed, signed sales contract.
10. Up front fee for appraisal, credit report and flood certification.
11. Veterans - DD214 and Certificate of Eligibility.
12. FHA - Picture ID and Social Security Card.