Couple Chooses Auction to Sell Lakefront Florida Panhandle Home in Rough Real Estate Market

October 12th, 2008

Altha, FL - Abal Auction Real Estate announces the auction of a 3 bedroom, 3.5 bath lakefront home on 5.11 acres. lakefront Florida panhandle home on October 16, 2008 according to Dr. Joe Abal, auctioneer and broker.

“What to do when “What to do when your property is on its third traditional listing and hasn’t sold in two years?” asked Abal. “We are finding that more and more homeowners are turning to the proven method of auction marketing.” Abal explained, “We received a phone call from the homeowner who told us her daughter in California had checked us out on the Internet and liked what she saw.”

Already known for their online bidding platform for real estate, the Abal Auction team saw the challenge to sell at auction a family home estate that dates back to 1972 when it was constructed.

Abal said that the current owners retired to Altha, where they purchased this property and completely redid the house inside and out. The property features a dock and boat access to beautiful White Pond Lake (formerly Lake Kathryn). White Pond Lake is a private lake governed by County ordinance prohibiting gas engines.

“This is a pristine, country property,” added Abal. “When I shot the video I actually stopped talking on the video, man was it quiet, just the birds,” added Abal.

The house was built with family entertainment in mind and has a great family entertainment recreation room. The home has three bedrooms and three and half baths, including an attached private guest quarters with it’s own private entrance.

Abal commented, “This is a great house built with a concrete block and it is solid. A new owner is going to get some type of wind force insurance discount with this construction.”

The home is only a 50-minute drive from the new Panama City airport and only 15 minutes from downtown Marianna - just one hour from the State Capitol in Tallahassee.

The auction is being bid online now at www.abalauction.com, with a live event occurring October 16, 2008, at 11:00 a.m. central. To download a complete digital Property Information Package visit the website. Financing information is also available in the lender section of the website. The property is offered by Seller Confirmation with a 10 percent buyer’s premium.

Miami Company Helps Banks Repair and Reposition Foreclosed Properties

September 14th, 2008

Miami, FL - In a market where only the fittest survive, Bayshore Land Group is flexing its innovation muscle to continue serving clients. The Florida commercial real estate specialist is updating its strategies with the shifting economy, offering new advisory services for banking and lending institutions inheriting commercial and residential real estate in the wake of swelling foreclosure rates.

As MacNair described, Bayshore’s REO management process offers three service areas: acquisition/analysis, preservation/renovation and disposition. The firm is currently helping lenders reconcile 60 foreclosed properties, and is prepared to at least double that volume in the second half of 2008.

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July 2008 Foreclosure Report Issued by PropertyShark.com: ‘We are Still in the Middle of a Housing Hurricane…’

August 10th, 2008

PropertyShark.com, the premier real estate data site, today released its monthly report covering first-time residential foreclosures in Los Angeles, Miami, Seattle and New York City for July 2008.

Key Takeaways (New York City, Miami, Los Angeles)

  • Foreclosures increase in all four regions; LA and Miami reach two-year — Compared to July 2007, the Los Angeles foreclosure rate was on top with a 249% increase, followed by Seattle with 156%, Miami up 137%, and New York City up 67%.
  • One in every 526 LA County homes scheduled in July — In Los Angeles, one in every 526 homes was scheduled for a first time foreclosure auction in July 2008. In comparison, New York City registers one in every 10,000 homes scheduled for foreclosure auction.
  • Queens dominates New York City foreclosure activity — In July, the top New York City zip codes for foreclosure activity were in Queens (specifically Jamaica and St. Albans).
  • Exacerbating the situation, overall residential sales transactions in these zip codes dropped by 40% in the first two quarters of 2008 compared to the first two quarters of 2007, and the median sale price dropped to $413,000 from $452,000 for this area.
    Lien amount exceeds $2 billion for new LA County foreclosures in July — This is the first month during the last two years in which the total aggregate lien amount from new LA County foreclosures has exceeded $2 billion. In Los Angeles County, the sum of the aggregate lien amounts for properties scheduled for trustee sales in July 2008 was $2,249,303,843.

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  • Tampa Condominium goes Clothing-Optional

    July 6th, 2008

    Tampa, FL - Eden Brings South Beach Style to Florida’s West Coast. Eden, formerly known as Arbors at Branch Creek, has announced plans to add a European, South Beach-style, clothing-optional pool to its list of amenities. Sales of Eden’s 390 units launch this month with prices ranging from $170,000 to $385,000. According to Christine Pirkle, Eden’s director of sales, the addition of the pool came in response to a growing demand for properties that offer adults-only recreational areas.

    While clothing-optional swimming and sunbathing has been commonplace in Europe for decades, it’s only recently become more appreciated in the U.S. Las Vegas hotspots like Caesars Palace, Mandalay Bay, the Wynn, MGM Grand and the Mirage have added adults-only European-style pools in recent years. In Miami, topless sunbathing on South Beach and nude sunbathing at North Beach’s Haulover has long been a draw. In fact, according to the American Association for Nude Recreation, the economic impact of clothing-optional travel contributes hundreds of millions of dollars to the U.S. economy annually.

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    Florida Custom Home Builder Steals the Show at Tampa Bay Parade of Homes

    June 17th, 2008

    Tampa, FL - Florida custom home builders Arthur Rutenberg Homes stole the show at the 2008 Tampa Bay Parade of Homes, scoring the most awards of any single-family home builder there. Most notably, franchises of Arthur Rutenberg Homes swept the category for single-family homes priced $650,000 to $699,000, taking the two top awards for luxury homes in this price rang.

    “We are honored that our homes have received such high recognition,” said Tessa Madasz, vice president of sales at Arthur Rutenberg Homes. “Receiving just one award would be a tremendous honor, and our franchises brought us four separate awards.”

    The largest franchiser of independent custom home builders in the nation, Arthur Rutenberg Homes was represented in the Tampa Bay Parade of Homes by three award-winning franchises: Arthur Rutenberg Homes/Lyons Heritage Tampa, Arthur Rutenberg Homes/Lyons Heritage Pasco, and Arthur Rutenberg Homes/Custom Craft Homes. Lyons Heritage Tampa was a two-time winner with both a grand and a merit award, while Lyons Heritage Pasco and Custom Craft Homes earned a grand award and a merit award, respectively.

    Two of the awards; a grand award for Lyons Heritage Tampa’s Tradewinds VI at Connerton in Land O’ Lakes, and a merit award for Custom Craft’s St. Augustine IV at FishHawk Ranch in Lithia — were both in the category for single-family homes priced $650,000 to $699,000. Arthur Rutenberg Homes was the only single-family home builder to sweep a category.

    The other two awards were a grand award for Lyons Heritage Pasco’s Camelia at Southern Hills Plantation in Hernando County, a home in the $900,000 to $999,000 price category; and a merit award for Lyons Heritage Tampa’s Bonaire II at Grand Hampton in Hillsborough County, a home in the $550,000 to $599,000 price category.

    “Lyons Heritage Pasco, Lyons Heritage Tampa, and Custom Craft Homes are all top-notch luxury home builders in Florida,” Madasz said. “Arthur Rutenberg Homes is proud to have these builders represent our company.”

    The 2008 Tampa Bay Parade of Homes visited the counties of Hillsborough, Pinellas, Pasco and Hernando, featuring 132 model homes in 105 different communities. The event, which is held every spring, is sponsored by the Tampa Bay Builders Association.

    For more information about Arthur Rutenberg Homes and its franchises, please visit www.ArthurRutenbergHomes.com.