Flat fee Mls or fixed fee Mls refers to the practice in the real estate industry of placing pertinent information about a property for sale into the local database  of the Multiple Listing Service for set fees or a dollar amount as opposed to commission based on the sales of the price of the property.

Fees can range anywhere from $200-$650. Realtor commissions are based on 3%-6%.  3% to list your property and 3% to a co broker for bringing  buyer.  These numbers are not set in stone, especially in today’s current real estate market they are negotiable.   In the past when the real estate market was flowing these flat fee brokers were popping up by the hundreds everyday. The claim is  to save you big bucks because of paying a one time flat fee of listing your property on the Mls,  instead of paying a Real Estate Agent a commission to do so. Savings can be substantial 3% .

When using a flat fee broker it is almost as if you were doing a FSBO (for sale by owner).  If you find your own buyer than you could also eliminate the co brokers 3% and save additional money. The potential downside to this is that you are representing your self and will need to arrange for services such as a real estate attorney or title company to handle the closing. If you are new to this it can be overwhelming.

In my experience as a top producing licensed Realtor in Florida I try explain the advantages of using the flat fee services compared to what services I offer my clients.  You pay for what you get. If you have tried to sell a home as I an  FSBO , you will know exactly what I am talking about.

I will outline some of the key differences why you Should use a Realtor.

1. A seasoned Realtor will guide you step by step through the entire process from start to finish.
2. How to prepare your house  with curb side appeal.
3. The ability to discuss with other Realtors the results of showings and what improvements need to be made.
4. Dealing with buyers instead of you (the owner) is extremely significant.
5. Buyers are trying to gain advantage in the negotiation process looking for reasons to lower the value and signs from an owner that he is having financial difficulties.
6. Marketing the property.  Most FSBO do not have the tools to market the property, the MLS itself will not sell a property.
7. Determining todays market value for selling your property based on a current detailed comparative market analysis (  CMA) .

These are just some of the reasons why I think you should use a Realtor.  Yes, in the short term you will save some money by listing your property with a flat fee broker, but I believe with current market conditions you can find an experienced Realtor who will take less than the 3% to list your property and give you all the benefits you get with his/her experience and the avenues of promoting your home.

What sells a home in todays market?  The right price and doing your research CMA  (comparative market analysis of what has sold in the past 30-90 days and compete directly with the lowest house listed in your area with compatible  square footage , features etc.

When the real estate market was booming  many of us counted on just taking out a HELOC (home equity line of credit) on our home, which caused over spending and created an unsurmountable amount of debt. Charging credit cards and paying them off with these type of loans was a norm.  With home prices  rising double digits quarterly in certain markets and with no end in site most of us didn’t realize the negative impact this would have on us when the market crashed.

I am asked this question over and over again.  What do I do If I’m upside down (means you owe more than its worth) on my house and I need to sell it quickly?

There are a few options open to you.

• You can sell it at a loss and try and make agreement with the bank to pay off the difference of what you owe and sell it for.
• You can do a short sale.  A short sale will not totally ruin your credit and each case is approved by the Banks on a case by case basis.
• You can try and find investors who will buy you house for exactly what is owed, but they are getting harder and harder to find.
• If you can’t afford the payments than foreclosure may be inevitable.

Certain decisions have to be made.  Is this your primary home? Or is it an investment home? Banks are not going to like this answer too much, but If it’s an investment home and you are over-leveraged by significant amounts, I advise clients even if they have the ability to borrow money not to borrow money to chase money.  What I mean by this is you are just putting yourself in more debt with the hopes that the property will appreciate to the level of break even.  At this point expert economists won’t predict when this market will turn around. Some have said 1st quarter 2010 but there only speculating.

If it was your personal home can you afford to sell it at a loss,and afford to make payments to the bank for the difference of what you owe and ultimately sell it for? If the answer is yes, than this is the best way to maintain your credit rating.

If you don’t think that is an option your next best solution is to sell it as a short sale.  This is a very long and drawn out process.  It requires multiple documents to be filed with the bank and a hardship letter stating why you cant pay the loan.  Banks approve these on a case by case basis. Try and get the bank to waive the difference of what is owed and what property sells for so you don’t get a judgement against you.

If your not to leveraged Investors might be able to bring the loan up to date and buy it at what ever is owed to the bank.  Usually investors will only do this if  they believe a particular market is significantly sold below market value.  They usually have experts and appraisers who throughly research statistics and are pointed in certain areas or price ranges to target.  The investors are getting harder and harder to find.

Lastly is foreclosure.  There are many good honest people who have had excellent credit their entire life and are faced with foreclosing.  They think its embarrassing.  Well its not.  Many different and unique circumstances make up for reasons of having to go this route.  Most don’t know this but while foreclosures do have a negative impact on your credit, it does not mean you can never buy another home.  In the old days it was unheard of but in certain instances in 6 months, others up to 24 months  you might be able to get another mortgage for a home.

Keep your head up! You are not alone if this situation pertains to you.  I would like to hear  how you have dealt with similar situations.

The foreclosure word has become an integrated part of our day to day conversation among our peers at work, family members at home, and just about anyone who has an investment in Real Estate.
In general, when most speak of foreclosures they are referring to properties owned by the bank and are usually sold for less than retail value.
What many don’t know is that there are 3 steps in the foreclosure process and if you are considering purchasing one of these homes the prices vary upon which stage of the process the home is in.
The 3 steps in foreclosures are, pre foreclosure, foreclosure, and post foreclosure.

Pre-Foreclosures

A home classified in a pre-foreclosure stage implies that only couples of missed mortgage payments have occurred and the lender hasn’t gotten involved. If you are facing this situation, you still have time to avoid foreclosure.
The best potential place to find distressed properties are with realtors, attorney’s, business associates and even sometimes while driving on the side of the road.
Investors are out there looking for bargains with distressed properties. When buying a pre foreclosed home, reaching a mutually agreed upon price, and dealing directly with owners, is the only way to go.
When an agreement is reached, it’s beneficial to both parties. The seller will be able to repair the damage to his/her credit. The buyer is able to purchase a house at a reduced price and saves the agony of an irate owner, who has lost his entire life savings, and is losing his personal residence, will usually end up destroying the home before turning it over to the bank.

Foreclosure Stage

In the next step, when a property is at the foreclosure stage, it can be identified through the County Clerk’s office. Find out where the notices of default are filed and determine how to sort through the general index to discover pending foreclosure sales.
Some County Clerk’s offices display these results on their webpage. You may also be able to request that your address or e-mail address be placed on an advance notice list or a list of pending defaults. Title Insurance companies may also be of assistance in this area by providing recorded information in exchange for the expectation of future business.
The foreclosure process itself will vary from one state to the next, depending on whether it is a title or lien state, which determines whether a judicial or non judicial form of foreclosure is involved. Judicial foreclosures pertain to mortgages, rather than deeds of trusts and take significantly longer to complete.
Non judicial foreclosures pertain to deeds of trust where a third party, called a trustee, handles the entire process in a matter of two to four months after a borrower has defaulted and stopped making payments. Once the property passes through either the judicial or non judicial phase, it is then ready to be sold at auction to the highest bidder.

Post-Foreclosure

This is the final step in the foreclosure process .By now the lender has already taken control of the property. The home is either in the possession of the lender’s Real Estate Owned department, or was sold during an auction to either an investor or a new owner.
Refer to the foreclosure notice to determine the name of the lender as well as the balance owed on the mortgage. Lenders are typically extremely willing sellers, because an REO on the books is an obvious sign of having made a poor lending decision. Both the overhead and losses involved with an Real Estate Owned negatively impacts the bank because of the added reserves a lender must maintain as well as any potential property management fees incurred.
In today’s market banks are willing to negotiate. If the property ends up in the hands of a private investor, rather than with the lender, you may still be able to write a contract offer either on your own or with the help of a real estate agent. However, the price at this point may not be rock bottom.
If you’re an investor, A strategic and key decision needs to be made concerning where to enter into the foreclosure process. It is critical that you identify one of the three aforementioned stages and become an expert in that particular process, which will help you to achieve the most success at becoming a long-term investor of distressed properties.

Luxury Vacation Resort Homes are a great hedge for investing in this tough real estate market.

Fractional ownership is becoming the hot trend and is a good investment, especially for foreign investors. With the U.S. dollar value extremely weak now is the time to buy.

Fractional ownership gives you deeded ownership of a portion of a luxury home for perhaps 10% or 20% of the cost, and without the headaches of maintenance.

Most of these exclusive homes typically come with a 5 Star Status, and are usually located near ski resorts, beaches or a golf resorts. Luxury amenities include golf courses, water parks, swimming pools, health clubs, spas, beaches, ski slopes, concierge services, grocery shopping and house cleaning.

Expect to pay about $60,000 to $800,000 to use the house or condo, typically for four to 16 weeks per year. And annual maintenance fees run about $5,000 to $10,000. So instead of plunking down, say, $2 million to buy a posh pad at your favorite ski resort, you’d pay $300,000 — and share it with a few other people.

A luxury time share is simple to achieve. An individual contacts a company or private parties and decides to buy a piece of property. Then they make up a contract, spelling out who gets the location and what weeks each will get out of the year. The more owners the less risk and the less amount of time your family will have to enjoy it.

Owning a luxury home as a fractional owner is completely legal, I would still recommend having a real estate attorney review the deed and covenants, restrictions and home association rules before purchasing.

With Banks looking for ways to lend money with less risk especially on jumbo loans, this has been a huge hit of late. Multiple responsible individuals significantly reduce the risk of foreclosures on real estate loans.

In the past couple of years Wall Street investors have slowed buying real estate securities. With new imposed under writing guidelines by the Feds on banks, and with the signing of the new Home Relief Bill by President Bush we will see Freddie Mac and Fannie turn around in the near future with Wall Street investors returning back to the market.

With the president election this year I really don’t see interest rates rising in the next couple of quarters. If you are on the sidelines asking yourself if this is the bottom, or your concerned will it continue to go down, in my opinion we are very close to the bottom if we’re not there already.

We will start to see the monies the Fed and the president have put in the economy within the next six months. I wouldn’t be surprised to see the next President help the housing market soon after he takes office.

In Reunion Resort a majority of the homes that are being built require construction to permanent loans and most new home owners are not familiar with them. If you are thinking of building a new home and are considering applying for a construction to permanent loan than here are some key points you should look for.

The most popular construction loan today is the “One Time Close” but not all are created equal. Just like any product there are the best loans, good loans and downright bad loans. The loan that you should apply for is simple; ask for the lowest rate, one time close for a specific period of time that you think you’ll be living there.

1. What is a good construction loan?
A typical construction loan nowadays is a construction to permanent loan that may or may not allow you to lock-in today’s low interest rates until the home is completed. If you choose a loan that does not allow you to lock in upfront, the interest rate may end up higher along with your monthly payment.

2. Should I use A Broker?

The most important thing when searching for a good construction loan is to find an experienced construction loan specialist that knows which banks are the best. A broker is a representative for hundreds of banks. Although the broker serves as middle-man, his or her services will not cost you anything extra. That’s because brokers get loans at wholesale rates, and pass them along to their clients at retail prices, just like any other business.

• Wholesale and Retail- The difference between wholesale and retail is how brokers make money. Therefore, you get the same rate from a broker as if you went directly to the lender yourself.
• In Fact, because or their volume, many brokers are able to offer their clients better deals than you can get by talking to the banks on you own.
• With an experienced construction loan broker you can shop dozens of the most competitive banks nationwide, work with wholesale pricing and can negotiate on rates and pricing. Also by submitting multiple loans at the same time you will not lose extra points on your FICO score.

3. When Should you lock in your construction loan before you start building or let the interest rate float?

If the rates are heading upward, lock. If the rates are stable, relax. If the rates are headed downward, float.
Right now interest rates are at an all time low and can only go up. Locked into the best interest rate with the ability to float downward.

Inexperienced loan officers will offer their customers an enticing low adjustable rate during construction without an upfront lock-in and the customer may end up having to lock into higher interest rates when the home is completed. Or the customer is sold on a higher rate during construction with a float down option after the home is built. Again, the rate could be much higher when the home is completed. Meanwhile the loan officer has been paid and has moved on to the next loan. The only time you want this type of loan is if it’s the only loan you qualify for.

Most loan officers do not explain this to their customers until it’s too late (Closing). Always ask. Is the construction loan rate locked upfront or floating during the construction loan period? Then ask, is the rate during the construction loan the same rate when the loan converts into the mortgage period.

How do I qualify for a construction to perm loan, and what are the procedures?

The first thing your loan officer wants to see is your completed loan application. The loan application called the (1003) will tell a story of your financial picture.

The completed loan application will tell the loan officer many things including,
1. What type of loan you want.
2. How much money you need.
3. Your social security number.
4. Your current employers.
5. A list of all you assets (money) and liabilities (bills).
6. How much money you make.
7. How much real estate you own.

Once the loan officer has your loan application in hand they can determine whether you can qualify for a loan. One of the first items pulled is your credit report. The credit report is going to tell 3 main important things.

• Show your current credit score. The credit score can range from 500 to 800.
• Show a complete list of all your monthly liabilities (bills).
• Show all past credit problems including bankruptcies, foreclosures and late payments.

With this information the loan officer will do an analysis to determine if you can qualify for the loan amount that you’re looking for. This analysis determines a ratio called the (income to debt ratio) and depending on the banks underwriting guidelines this ratio will usually range from 36% to 45%. The income to debt ratio is the percentage of monthly debt payments (including your new mortgage payment, taxes and insurance). This ratio should not exceed 36% to 45% of your monthly income. Some banks will allow you to exceed this ratio if you have an excellent credit history and excellent credit score. The current and the most popular method of qualifying for a loan today is the stated income loan.

Stated income allows you to qualify without verifying your income on your tax returns, W 2’s or pay stubs. The only thing the bank verifies when applying for a stated income loan is your credit score, liquid assets and that you’re employed.
4. “Bait and Switch” Don’t be taken by one of the oldest tricks in the book

The mortgage lending business is notorious for baiting and switching. Baiting and Switching is when a loan officer or advertisement offers you one thing and then tries to sells you something else.
Typical signs of baiting and switching are obvious, some basic examples are:

• Over the phone, you are offered a much lower rate than any other quote and once you’ve sent in your application the rate you were quoted has all of a sudden vanished.
• You are offered a construction loan with no points and no loan fee’s. What you are not told is that you are paying for it with a higher interest rate and the costs are built into the loan.
• You are told that you will not have any payments while you’re building. What you’re not told is that all construction loans have this option and it’s called “interest reserves” and the payments are added to the loan amount.

Remember three important facts and you will always be in good shape.

1. If it sounds too good to be true there’s usually a reason.
2. Always get your quote in writing, (ask for a good faith estimate).
3. If you are satisfied with the rate and construction loan program that you are quoted, ask to lock it in upfront.
On the flipside, it is very important to realize that most loan products typically go hand in hand with banking guidelines. These guidelines are provided to loan officers to coincide with the customer’s qualifications.

For example, if you have a very high (FICO) credit score with land free and clear, you have more loan options than the person with a very low (FICO) score and no land equity.

5. Banks really don’t want you to know this!

All banks have access to the same rates and the only reason everyone ends up with a different rate is directly related to how much your loan officer and bank is going to profit from you.
You should probably read that one again.

Your loan officer gets paid like all sales people either by:

• Salary plus commission
• Commission only

It doesn’t matter if you walk directly into a bank or work with a broker, basically everyone gets paid the same. If you walk directly into a bank the loan officer most likely gets a basic salary and a percentage of the loan origination fee (points and yield spread premiums). If you work with a broker the broker usually works on a straight commission (points and yield spread premiums). Becoming a broker allows the loan officer the ability to offer their customers the best loans with the most options.
It always amazes me when I see TV commercials or hear radio commercials advertising $395, zero closing costs. I always wonder if people understand how they can do that.
Ok, here is how it is done.

The inside secret is that in exchange for these low or zero closing costs the lenders will make their profits and cover the costs of the loan by charging you a higher interest rate.
This higher interest rate pays what they call in our industry a (YSP) yield spread premium.

By charging you a higher interest rate over the life of the loan the bank can easily afford the commercials, commissions, payroll, and cover the costs of the loan while still making a profit. Also the service is usually very poor and impersonal.

So the next time you see advertising with no closing costs you will know exactly how they are doing it.

So please remember that there is no such thing as a free lunch in any business. Business wouldn’t be business if there were no profits. The most important thing is that you want the best loan available at a fair price with an experienced loan officer.

6. What are interest reserves and contingency funds doing in your closing costs?

The two things most customers do not factor into the cost of the building their new home are interest reserves and contingency funds.

Interest reserves are added to your loan amount to make the monthly payment on your loan. Yes, you read that correctly, you will not have to make a monthly construction loan payment while your home is being built. The payments are made from this interest reserve account and no, it’s not free. This reserve is added to your construction loan amount. Interest reserves were designed for the benefit of the customer. Most people building a new home are either paying rent or have an existing mortgage payment while their home is being built.

The last thing a customer needs is another monthly payment while building. So, banks created the interest reserve account by adding up the estimated interest payments over a 12 month period and add this to the loan amount.

If you do not want interest reserves added to your construction loan amount you can ask to make your own monthly construction loan payment. Contingency funds are added to the loan amount just in case you need more money to build your new home.

With all good intentions construction loans tend to have cost over runs. The bank adds 5% to 10% of the cost breakdown and adds this amount to the loan amount just in case you have cost over runs or need better appliances. If you don’t need or use this extra contingency fund then it will not be added to your mortgage upon completion of your new home.

So when you apply for a construction loan ask your loan officer to provide you a copy of the estimated construction loan budget. The budget is created from your costs and includes every cost within the loan including land balances, closing costs, interest reserves, contingency and bank fees.

Real Estate is going through some of its most difficult times in 30 years. Financing is becoming almost impossible, even for Bobby Ginn.

Today July 21st , 2008 CEO Bobby Ginn released an update explaining why Reunion Resorts Villa prices have fallen the past year, and will even fall further because they are now being offered at ridiculous cheap prices to raise much needed capital for the Ginn Company. These units directly compete with units that were purchased for over $645,000 by owners who kept the units in good faith with Ginn.

Bobby Ginn quotes that:

• Over the past year, we have offered several different buyer incentives for the Villas at Reunion Square in an effort to protect property values, close out the project, and continue with my original vision. We have had some success with these incentives, but, due to the downturn in the real estate market, some prices have fallen even below the incentives that we have offered.

• It is for these reasons that we’ve made the decision to lower the purchase price on a number of developer-owned units at the Villas. We hope that by offering these units, and the amenities and Ginn One Club membership that will accompany them, at prices more in line with the current market, we will be able to stay the course and complete the vision for Reunion.

I am one of Reunion Resorts biggest supporters and believe things will eventually turn around, and issues like below should be addressed and not just blame the bad market and sales that were canceled.

On July 1st it was reported that Ginn Clubs & Resorts missed principal and interest payments yesterday on its first- and second-lien debt, sources said.

Interest payments are subject to a three-day grace period, but there’s no grace on the principal, sources noted. Lenders have agreed to forebear from exercising remedies for 30 days, but haven’t waived the default. Ginn’s loans are in the Standard & Poor’s/LSTA Index.

As part of the forbearance agreement, Lubert-Adler is kicking in $5 million of equity that will be used for operations, according to market sources. It will not be used to make payments on the Credit Suisse-led loans.

The company has already been in active talks with lenders regarding a restructuring of the company’s $675 million credit facility. Those negotiations are ongoing, sources added.

Ginn’s first-lien debt is quoted at 45/50 this morning, with the second-lien at 10/20, sources said. There was a small trade in the first-lien last week near 50 and the paper has been quoted at 47.5/52.5 since then. The second-lien loan was not active, quoted at 17.5/22.5 last week, down from 35/45 in early June.

The loans back the development of five communities by the Celebration, Fla.-based company. The properties are Tesoro, a mature community in Port St Lucie, Fla.; Quail West, a mature community in Naples, Fla.; Hammock Beach River Club in Palm Coast, Fla.; and the Laurelmor and Grand Bahamas projects, both of which include golf courses and single-family and condominium homes.

Than President Robert Gidel released this statement:

Today, Standard & Poor’s will release a statement that indicates two Ginn affiliated companies, Ginn-LA CS Borrower, LLC and Ginn-LA Conduit Lender, Inc. did not make a principal and interest payment on a non-recourse $675 million credit facility led by Credit Suisse. It will also state that we have reached a 30-day forbearance agreement and are actively negotiating with our lenders.

There are four communities involved in this credit facility:

• Ginn-LA St. Lucie, Ltd., LLLP, which owns Tesoro
• Ginn-LA Quail West, Ltd., LLLP, which owns Quail West
• Ginn-LA Laurel Creek, Ltd., LLLP, which owns Laurelmor
• Ginn-LA West End Limited, which owns Ginn sur Mer

Due to the ongoing slowdown in the residential real estate market, it became clear that it would not be possible to meet the home site sales objectives necessary to make payments due under the credit facility.

We have been discussing these issues with the lenders for the purpose of seeking ways to restructure the terms of the credit facility. Today’s announcement of the forbearance provides an environment for both us as borrowers and the lenders to continue to work toward a restructuring of the credit facility, which we believe will occur in the next 30 days and will permit each of the communities to be completed as planned.

Even though sales throughout our industry have been lagging, nearly all development work has been completed at Tesoro and Quail West. While there is work left to do at Laurelmor, we have commenced work on much of the infrastructure, including the paving of miles of roadway and substantially completing the delivery of water and electric to the home sites.

Ginn-LA West End Limited previously set up accounts which contain the funds necessary to complete the infrastructure and the initial 18-hole golf course at Ginn sur Mer. These funds are not subject to the credit facility and are unaffected by the current situation, which means there will be no disruption to the continued development of the Ginn sur Mer project or the operations and development of Old Bahama Bay. The properties that are owned by Ginn-LA OBB, including the resort core of the Ginn sur Mer project, are not subject to this or any other credit facility.

The Credit Suisse-led credit facility only affects these four communities. All of our other communities, including Reunion Resort & Club, Hammock Beach, the Conservatory, Bella Collina, Old Bahama Bay, Tesoro Preserve and Cobblestone Park, are separately funded and will maintain operations in accordance with business demands.

This situation has no impact on our ongoing business operations throughout the company. In fact, we are creating new initiatives to create better experiences for our Members as we speak. We recently announced the formation of the Ginn One Club, which will provide reciprocity to our Members at select Clubs and Resorts throughout our portfolio.

In addition, we are finalizing plans to complete amenities at our Clubs and Resorts including an expansion of the Waterpark at Reunion Resort & Club which will feature a Members-only area, expanding our pool and food and beverage venues at the South Tower Plaza at Hammock Beach, completing the lobby area and tennis pro shop at Yacht Harbor Village, completing the Social and Equestrian center at Bella Collina and finishing the Clubhouse at Cobblestone Park, among other projects.

The outcome of the these missed payments by The Ginn Company has a significant impact on any resort with the Ginn name attached to it. There are serious concerns of the mid 1980’s and Hilton Head Island fiasco with the Ginn Company he Sea Pines Company and the Hilton Head Company, which collapsed like a cheap lawn chair in the midst of the nation’s savings and loan collapse. Bankruptcy proceedings ensued, island businesses were left with hundreds of thousands of dollars in receivables the only difference I see this time is The Ginn Company has the LUPERT ADLER FUND.

What do you think?

Located in Beautiful Reunion Resort (Near Champions Gate) off I-4, and just minutes away from Disney World, this 5 start resort is a must see when visiting Orlando.

Reunion Resort-

Located minutes away from Disney World, this amazing one a kind Golf Resort is state of the ART. With 3 Championship Golf Courses, Nicklaus, Palmer, Watson, a water park downtown, restaurants throughout the complex, walking, biking trails, pools spa’s and many other amenities.

A beautiful crafted and well designed brand new home sits down the middle of the prestigious Nicklaus course and has the best view in all of Reunion Resort. If your looking for a Vacation Home and are passionate about quality, you’ve found it!
The total square footage is around 4400 under air. This home is the Ultimate in Luxury. As soon as you enter this master piece you will notice its intricate detailing. For those who demand excellence, and quality, the craftsmanship is by far superior to any other home out here. From the refined details of the trim work, to the elegantly hand painted walls (faux finish in entire house), plus its distinctive artwork, and stenciling in the bathrooms, walls, and ceilings. This home has 5 captivating luxury suite bedrooms, 5 full decorative bathrooms, 2 half bathrooms. Experience the wonder of having your own movie room. You’ll fall in love with its amazing view from the balcony. A wet bar is available for your pure enjoyment. The kitchen is a chef’s ultimate luxury dream and is as good as it gets. From the upgrade cabinetry 42 ” inches with crown molding, to the Kitchen Aid appliances and stainless steel and wood paneled doors. The granite counter tops will surpass anything you have seen and are in a class by itself. When it comes to hardware there is no comparison and is second to none comparing to other builder’s in Reunion Resort. Plumbing fixtures are of premium quality from faucets, to the jacuzzi tub. Lighting fixtures are impeccable.. The luxury bathroom’s are designed to grab your attention with the travertine flooring and travertine tiles with handcrafted wall designs.

Looking for a 50cents on the dollar deal? I have it. This home is located on a The Watson Golf Course. Originally purchased for 1.75m, refinanced 2 years ago for 2.1m. For the past 12 months it was listed at 2.250m. Recently, the bank took ownership, and has sent the word out, they do not want this house sitting on their books. This house is priced to move quickly!

Before you purchase one of these vacation resort memberships PLEASE READ THIS!

Why Are your paying those expensive upfront fees just to join one of these clubs who are here now and gone tomorrow? What are your annual yearly dues/fees?

Ask yourself, why do I want become a member of one of these clubs?

What you are really buying is a membership. The membership plan you chose determines your initial upfront costs, and determines where, when and how you can use that membership. Memberships are sold on the premise that it will maintain its value and grow in coming years. What guarantee do you have that membership will continue to grow?

I’m here to break the bad news to some of you who have joined these fancy clubs. Have you researched about these kind of clubs? Look at what happened not too long ago to the #1 Resort/Vacation Club, and all the money investors lost. With recent merging of some of these companies less competition and price increases is all many have seen. In many cases, the amount you pay up front plus the annual costs are less than owning million dollar homes and the cost of being a private member.

The past few years have seen a decline in Real Estate. These clubs were able to take advantage of timing and weakness in this market. They target high end income clients, and try to convince them to join their club rather than purchase homes. They have not done anything new, all they have done is purchase or lease homes in high end communities, either with golf courses, water access, or in ski resort areas.

I have great news for those of you considering joining these clubs. What if I could show you a way, to enjoy some of the these same qualities they offer? Real Estate, as a long term investment, is one of the safest investments with minimal risk. If you are a skilled investor, who purchases properties in the right location, at the right price, and invest for the long term, chances are extremely slim of you losing your whole investment.

Now there is a way to enjoy what these expensive clubs offer as their selling pitch. Until recently, only a very few companies have had properties in these desired hot spots where people chose to enjoy vacations or travel. Now the Ginn Company who has resort in these same areas have opened up to their members the ability to utilize many of the properties at no additional cost.

On June 30th 2008 this message from CEO Bobby Ginn was sent as an email to its members:

To our Members:

Over the past 10 years, with your help, we have created Ginn Clubs & Resorts. I am truly gratified with what we have accomplished together.

Thank you for believing in the vision we created for our Clubs and Resorts and for the loyalty you have displayed by standing with us throughout the years.

As a company, we strive to create the best possible experience for our Members and Owners. Today, we have taken the next step to making your Membership even more meaningful.

I am proud to introduce the Ginn One Club™, a new concept that will truly make us “One Club” and provide you with reciprocity at a selection of our Resorts and Clubs.

Here’s how the Ginn One Club works:

This program provides Social and Golf Members who are in good standing with the opportunity to enjoy membership privileges at a selection of our Resorts and Clubs.

Old Bahama Bay bu Ginn sur MerThis selection currently includes:

* Ginn Reunion® Resort
Reunion, FL
* Ginn Hammock Beach™
Palm Coast, FL
* Bella Collina®
Montverde, FL
* Mahogany Run®
St. Thomas, U.S. Virgin Islands
* RiverTowne™ Country Club
Mount Pleasant, SC
* Patriot’s Point Golf Links™
Mount Pleasant, SC
* Cobblestone Park®
Columbia, SC
* Old Bahama Bay by Ginn sur Mer™
Grand Bahama Island

Members will also receive preferred pricing on lodging, food and beverage, merchandise and other amenities at participating Resorts and Clubs.

In addition, we will create an exclusive VIP concierge service that will handle all the details of your visit to a participating Resort and Club in the Ginn One Club program, including reserving tee times, hotel reservations, dinner recommendations and more.

There will be no additional cost to Members to participate in the Ginn One Club program.

We anticipate that the Ginn One Club program will begin in earnest in September 2008.

In the coming weeks, you will receive much more information regarding the Ginn One Club.

And while that is certainly exciting news, there is much more underway or in the planning stages at many Ginn communities.

Ginn Reunion ResortAt Hammock Beach, we have plans to expand our pool and food and beverage venues at the South Tower Plaza. The lobby area of Yacht Harbor Village will soon be completed, a tennis pro shop will open and a harbormaster will be added to oversee marina operations.

At Reunion, two pools at the Villas and a pool for Center Court Ridge are in the works. The Water Park will be expanded to include a Members-only area, and there are plans to build a temporary Nicklaus Clubhouse, which will ultimately be replaced with a permanent facility.

Cobblestone will celebrate the completion of their new clubhouse.

At Bella Collina, we will begin construction on the social and equestrian center.

As we look back, much has been accomplished over the past decade. We began with a single project, Hammock Beach, and today we operate 11 Resorts and Clubs around the country and the Caribbean and we currently have exciting plans underway for several communities still in development.

Over the last 12 months, we have celebrated the opening of magnificent Clubhouses and golf facilities at Tesoro, the Conservatory, and Bella Collina. Currently, we sponsor and produce four professional golf tournaments (two LPGA events, one PGA Champions Tour and one PGA Tour) and host a fifth (PGA Champions Tour).

In addition, we recently earned an incredible victory for our picturesque Battle Mountain ski and golf resort to be developed in Minturn, Colorado. Following the unanimous approval of our project by the Minturn town council, an overwhelming 87 percent of the town residents voted to approve our project and annex it into their town.

Ginn Hammock Beach Resort As a community-minded and environmentally-friendly developer, we continuously look for ways to enhance our surrounding communities. We recently closed on a transaction to sell Morris Island to the City of Charleston at a substantial price reduction. We did this so that Morris Island – a historically significant Civil War battleground featured in the movie “Glory” – will be preserved in perpetuity.

Additionally, we have worked closely with Audubon Society of Florida to protect a bald eagle habitat at Tesoro and have also designated thousands of acres of land in many of our communities for environmental preservation.

As you know, there are challenging times ahead given the current conditions of the real estate and financial markets. While we are not immune to these challenges, we will certainly work hard to shore up our existing resorts and clubs, improve hospitality operations and do our very best to provide lasting, fun memories for you, your family and friends.

On behalf of all of us at Ginn Resorts, we hope that you truly enjoy the benefits that the Ginn One Club will offer. Thank you for your continued support and we look forward to seeing you soon at a Ginn Club or Resort.

This is a great idea. Members will be allowed to use other clubs in the Ginn organization all over the country, including the Bahamas.

Wouldn’t you like to own a custom home like this? Want to minimize your risk?

What an opportunity! Here’s an idea worth considering. Some owners in Reunion Resort have agreed to sell their homes to multiple investors. I am not talking about fractionalizing deeds, but what I am referring to is opening an LLC, allowing up to 6 owners who each own a share of the LLC which would own the property. Each will have the rights to use the membership.

It would work like this. Among the owners, (it doesn’t have to be 6 but probably at least 3 or 4), each would select different times of that year they would want to use the facilities so at no time would multiple owners be using the membership.

In the next few weeks I will work with the Ginn Company to obtain something in writing allowing the other owners of the LLC the rights to use the facility.

With the Ginn Company, allowing you to enjoy the ALL the facilities mentioned by the CEO in the above memo, there is NO NEED to join an expensive club and pay those yearly fees and have nothing to show for it.

If anyone is interested in this idea please contact me at info@orlandoreunionresorthomes.com

Not long ago It was difficult finding distressed properties, i.e. fixer uppers. They were as hot as the new homes were to the flippers. Than to make matters worse a television show was created just to show how easy it was for you to flip homes or fix them up and make easy money quickly. The more attention the media gave fixer uppers and how easy it was to flip homes, more and more people over extended them self thinking it was so easy to make a quick buck.

Not long ago It was difficult finding distressed properties, i.e. fixer uppers. They were as hot as the new homes were to the flippers. Than to make matters worse a television show was created just to show how easy it was for you to flip homes or fix them up and make easy money quickly. The more attention the media gave fixer uppers and how easy it was to flip homes, more and more people over extended them self thinking it was so easy to make a quick buck.

Well television got it wrong. Television made it look so easy. If you have been in Real Estate for any length of time, fixer uppers at one time were good deals for those didn’t have enough cash or didn’t want a big mortgage and were looking for a good deal, and usually the person fixing up the home would end up living in it for a couple of years. But during the housing boom the amounts of money that was made with fixer uppers was huge.

Below is issues investor’s face today:

* Overwhelming back log of inventory of homes that are on the market.
* Banks have tightened loan underwriting guidelines.
* The negative impact that the media has put on the housing industry will have consequences for years to come.
* Banks helped create, and fed the fuel during the housing boom a couple of years ago by implementing easing of lending programs, such as no money down, no verification of income, and in some cases not verifying assets.

With foreclosure’s skyrocketing banks are having to take back properties that they really don’t want on their books. They have done a 360 degree swing from over lending to under lending. They are even calling back home lines of credits and lowering credit cards amount to limit exposure.

If you were waiting on the sidelines waiting till the market corrects itself you are brilliant. I haven’t seen deals like I’m seeing in this market in over 27 years.

Distressed properties in my opinion have more negative risk than value. In today’s market there are many options buyers have for a safe investment, because of the amount of new homes in good condition available sometimes at 50 cents on the dollar.

In most cases, there is no need to have to put significant money to fix newer homes, like you would have to in a fixer upper. What I am doing lately is finding great deals and quickly finding renters to cover the costs just to break even with the mortgage payments and taxes. You can only do this if the house is in great condition and don’t need much work. This market is cyclical and will eventually turn around. I would rather purchase a new model home at 50 cents on the dollar than a fixer upper.

I wish I had a magic ball and could say that I see an end to this but I don’t. I wouldn’t be surprised to see this last another 24-36 months. I would like to be optimistic to say otherwise because many of us are suffering enough with the economy and high gas prices