Prudential Shimmering Sands - Read up on the latest news and updates about real estate that could effect you.

FOR RELEASE: IMMEDIATE

DATE: 9/17/2009 For more information, please contact: Dana Dunnigan 850-235-1433

13 Local REALTORS EARN PRESTIGIOUS DESIGNATION TO HELP HOMEOWNERS IN DANGER OF FORECLOSURE

Thirteen local REALTORS from Prudential Shimmering Sands Realty have earned the prestigious Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. This is invaluable expertise to offer at a time when the area is ravaged by “distressed” homes in the foreclosure process.

Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.

In the Panama City area, more than 2000 homes are in danger of foreclosing. It is happening in all price ranges. Local experts say that even high-priced homes are not immune.

“This CDPE designation has been invaluable to our team, as we work with sellers and lenders on complicated short sales,” said Dana Dunnigan, Broker-Owner. “It is so rewarding to be able to help sellers save their homes from foreclosure.”

Alex Charfen, founder of the Distressed Property Institute in Boca Raton, Fla., said that Realtors® companies such as Prudential Shimmering Sands Realty with the CDPE designated agents have valuable training in short sales that can offer the homeowner much better alternatives to foreclosure, which virtually destroys the credit rating. These experts also may better understand market conditions and can help sellers through the emotional experience, he said.

The Distressed Property Institute opened in January 2008 and provides training on-site and online. The CDPE is the premier designation for Realtors helping homeowners in distress and handling short sales.

“Our goal is to educate as many people as possible so we can help as many homeowners as possible,” Charfen said.

For more information about CDPE designation or to meet a Certified Distressed Property Expert from Prudential Shimmering Sands Realty, please call 1-866-784-1435 or 1-888-825-1433 or search our agent directory on our website at www.PanamaCityRealEstate.com

What are some of the things buyers look for in a new home?
Many times they look for things they don't have in their current home, like a 'showcase' bedroom. What is a showcase bedroom? It's a bedroom that looks like it came right out of a major magazine. More than that, it's a room where buyers can imagine themselves living in the home. Here ar a few tips for creating a showcase bedroom:
Keep the furniture clean , the bed linens should be fresh and luxurious to the eye, the color choices should be neutral and should match.
Remove any exercise equipment and de-clutter the closets. People often move because they want MORE space. In general, you can remove anything that does not need to be in the master bedroom. Where do you put all the items you took from the closet? Try using plastic storage containers that will slide under the bed and out of site. If there is left over space in your closets they will think that all their clothes and other items will fit!
The bedroom is a personal space for the buyer. Creating a great bedroom isn't just about the furniture, but it's about turning an ordinary bedroom into a place that will comfort a buyer to escape from the rest of the world. So spend a little time and energy to really look at the bedroom from a buyer's eye and your house will sell faster.”

Prudential Shimmering Sands Realty in Panama City Beach , Fl officially rolled out a new agents benefits plan. The agents now have a opportunity to get health insurance, life , retirement and much more because they are working at Prudential. This is a unique benefit for our agents. Meetings are now being set up for one on one consultations with our exclusive financial planner. We believe this is another superior benefit to be a member of our team and would love to talk to any outside agents as well who would like more information regarding this exciting opportunity.

Summer Danger: Parents, is there a pool in back of that vacant home?
Although this is not a new problem, it is a real problem that still needs to be given the highest attention. Its summer, children are out of school and they love to swim.
So maybe you do not have a swimming pool in your yard but what about the vacant property with a for sale sign in the yard that is either on the other side of the fence or right down the street, where the gate is not locked or the fence is not too high to climb.
The property is vacant, the pool is either being maintained by a pool service or has some dirty water in it. Polluted water may be a mosquito den or worst.
If the pool is emptied:
• It will cause structure damage to the pool – especially in this heat.
• If the pool is empty it can pop up and break open.
If the pool has water in it -->>
• If it's clean it can be very tempting to a child
• If its dirty it can breed mosquitoes which can bring on virus.
Parents, babysitters, kids are kids so please be aware of this danger so your children are not over in a neighbors yard planning on using that pool to take a swim or just playing around the pool and accidently fall in. Children unattended in a pool could have serious consequenses.

Celebrating 15th Anniversary
Prudential Shimmering Sands Realty in Panama City Beach, Fl
Wow, I can't believe it, Shimmering Sands Realty opened its doors 15 years ago this week with its first real estate office in Panama City Beach. We started with 2 Realtors (one of which was me) and an administrative assistant (my mom). 1999 was a banner year for us, we acquired a Prudential Real Estate franchise and purchased the oldest real estate company on the beach, Sam B. Hearn. Prudential provided many tools and training that we were not able to provide on an independent and local basis. It also gave us wonderful brand recognition in a market where resort sales are 40% of our business. These affiliations proved to be a great move, we quickly added more agents and our business doubled that year. Since our opening, we had also been building and growing a robust property management division and most recently a commercial division. The commercial office is located next door to our highly visible Panama City location on 23rd Street.
January, 2009 saw us once again growing and expanding our presence into other marketing areas. We acquired Prudential Resort Realty on St. George Island. That office also covers Apalachicola, Carrabelle, and the Forgotten Coast. We are in the process of renovating an office in Mexico Beach right now at Summerhouse condos and should be opening there any day. We are now a full service real estate brokerage company marketing and selling residential and investment properties, selling and leasing commercial real estate, and working with developers at on site locations.
We have been blessed to have a great management team, and I believe that our Realtors are some of the most ethical in the business. We look forward to serving your needs along the Emerald and Forgotten Coasts of Florida!
Dana Paramore Dunnigan, Broker/Owner

Fannie and Freddie suspend foreclosures

Between the dates of November 26, 2008 and January 9, 2009, all of those in the network or servicers for Fannie Mae and Freddie Mac will put a stop to all foreclosure and eviction procedures. This action will take place to give time for a rescue plan that has been recently announced to work.

On December 15, 2008, the Streamlined Modification Program will launch. This program allows delinquent borrowers to get a customized mortgage. The payments are lowered to no more than 38% of the borrowers gross incomes.

David M. Moffett, CEO of Freddie Mac, stated that the nation’s mortgage services will be granted the chance to work with a larger amount of borrowers who would be able to qualify for an adjustment under the new program by delaying the sales of foreclosures.

Some mortgage servicers have been told by Freddie to get in contact with the estimated 6,000 borrowers who have scheduled evictions or auction sales between November 26th and January 9th. The borrowers will be informed the sales are postponed. It is estimated by Fannie that about 10,000 of its borrowers will feel the effects. Borrowers that are looking at eviction between the dates of November 20th and November 26th will not get any relief.

Who qualifies, how it works

Loan must be owned by Fannie Mae or Freddie Mac and Homeowner must:

Be at least 90 days late

Live in the home

Prove Hardship

Payments adjusted to 38% of Income

Principal not reduced



Only a small percentage of homeowners looking at foreclosure over the next couple of months will be affected by the suspension of foreclosures. Fannie and Freddie mortgages do account for more than half of all mortgages, but only have a small number of risky subprime loans.

Freddie Mac spokesman, Brad German, stated that a large number of what is actually going into foreclosure are not Fannie or Freddie loans.

The plan by Fannie and Freddie was revealed on November 11th. A number of factors determine eligibility. Homeowners must not have filed for bankruptcy at any time, live in the home on which the mortgage was taken, owe at least 90% or more of the home’s present worth, and must be 90 days or more late on the mortgage payments.

The rate of the mortgage could be lowered to a percentage as small as 3% for five years. The rate would then increase by 1% a year until it hits the original rate of interest or until it hits the current market rate. This will be determined by whichever is lower.

Participation by servicers is involuntary, contrasting federal efforts in previous years.

Extensions of foreclosure prevention efforts have been announced by several major servicers. Such servicers include JPMorgan, Citigroup, Chase, and Bank of America. Nearly 1 million more borrowers could be aided by this recent announcement.

The Bay County Association of Realtors® Annual Blood drive will be held on Thursday, June 25,2009 form 10:00 AM to 2:00 PM. at the Panama City Mall. The Bay Medical Blood Drive Donor Center will be on site with their blood mobile near the Mall entrance facing Hwy. 77. Fresh grilled hot dogs and hamburgs will be served to all the donors and you will also receive a nifty baseball cap. No appointment nessessary. Open to the public, thank you

I Think I've Blown it with My SOI: Can I Recover Their Support?

June 18, 2009 -- Realty Times Feature Article by Jennifer Allan



"Dear Jennifer,
I've been reading your blogs about SOI and my heart is sinking. I think I've blown it with my Sphere of Influence by constantly asking them for business and referrals. Is there a way I can redeem myself with my friends, or do I have to go make all new ones? Bill"

I get this question a lot! Mostly from new or newer agents who have been brainwashed into believing that an SOI (Sphere of Influence) business model means that they're supposed to drive their friends nutso with constant reminders of their love for referrals. Most tell me that:


they felt it was wrong, but were convinced to do it anyway, and/or

they've felt their friends pull away and suspect they're avoiding the agent's calls.
Oops. Not at all good for business OR your social life!

Here's what I tell these distressed agents.

There are a couple of things they can do. If it suits their personality, they can address it head-on with an apology letter - very sincere, not too sappy, but friendly & apologetic, with a "let's move on" tone. I'm not convinced this is the best line of attack, but it might be effective if done well.

Of course, then the agent needs to follow it up with action - he needs to BE a non-referral-begging friend who happens to be a real estate agent. Coffee dates, casual emails, dinner parties - whatever socializing feels comfortable with the various members of his SOI. Oh, and he doesn't mention his real estate career unless it's appropriate, but strives to come across as a happy, enthusiastic, reliable, dependable, generally cool person who is probably a fabulous real estate agent, as well.

If the apology letter doesn't feel right, then he can just make a concerted effort to reconnect with his SOI, as above, and if the opportunity arises and it feels appropriate, give a little apology in person.

The other thing he can do is strive to build his SOI by meeting new people and NEVER breathing a hint of referral-begging with them. He can meet new people thru his existing SOI and by being out there in the world with his antenna up. I consider my SOI strategy to be about meeting people THRU my SOI, not necessarily generating business directly from the people I know.

Of course, the best approach is to not annoy one's friends in the first place, so that there's no need for apologies or redeeming one's dignity after the fact!

Success is not the absence of failure. Success is what happens when you choose to move on beyond failure. Learning what not to do is an important part of knowing what is most effective to do. Every mistake can spotlight a way to improve. Ralph Marston

Apalachicola Bay Chamber of Commerce has announced...
Our area is in two great magazines that hit mailboxes today- National Geographic Traveler, July/August 2009 issue Great Long Weekends: 46 Places To Get Away From It All and Southern Accents, July/August issue an article titled Sense of Place by Connie May Fowler

Our first ever chili cook off to benefit the American Cancer Society will be on Aug.19th 11-2, call any agent for details, everyone is invited

Banks express hope for fed short-sale effort
August 7th, 2009 FAR EarlyBird none Comments
WASHINGTON – Aug. 7, 2009 – The federal government is launching a program to simplify and speed up the short-sale process by providing standardized documentation, cash incentives to lenders, and a $1,500 moving allowance to borrowers. Holders of second liens will get up to $1,000 to relinquish their claims.
Banks say the short-sale process has been taking so long because both their employees and real estate practitioners are learning as they go.
David Sunlin, vice president in charge of short sales at Bank of America, says he hopes the new government plan will help. “About half of short sales never close. We see it as a big lost opportunity, and we need to improve the rate we close them,” he says.
Wells Fargo says it has cut its short sale average turnaround time from 90 days to 30 days by preparing a guide from real estate practitioners and putting in place procedures to handle short-sale requests.
The federal government first announced its short sales initiative in May at the annual Washington meetings of the National Association of Realtors®.
Source: USA Today, Stephanie Armour (08/05/2009)

Talk to an Experienced Auctioneer …Is this a Option for You?


Do you need to settle an estate or a divorce, end a partnership, get out of the rental business or any business, sell a residential, commercial or industrial lot, sell a commercial or industrial building, turn land of any size into cash or a positive asset or sell your home?
Hi! I’m Mike Hill your local real estate auctioneer! I just moved here from Middle Tennessee where I have conducted over 600 successful real estate auctions. I have auctioned homes, rental properties, residential, commercial and industrial lots, commercial and industrial buildings and farms (as a whole or in tracts). Auctions create a competitive atmosphere by bringing all interested buyers to your real estate at one time for the opportunity to purchase that day. There are many benefits of selling real estate at auction such as: the process is short ( 6 to 7 weeks), you know when you will receive your money, there are no contingences (financing or inspections), advertising is focused on marketing just your real estate, all interested buyers are present (I work with all local Realtors and encourage them to bring their clients to your auction) and there is very little cost to you. Call me today (850) 235-1433 for a professional opinion as to whether your real estate might qualify to sell at auction. There is no cost or obligation and I would enjoy the opportunity to provide you with the solution to get your real estate sold!

Let’s talk!