Murray Realty would like to wish everyone a Happy Holiday Season and a safe and Happy New Year!

Are you protecting your home ??????

 
As we enter into the cooler weather and with it the end of the hurricane season, we can be thankful for a quiet year during 2009. Not once this year did we have to stop work at our job sites and prepare the half-built structures for a possible “big wind”. Not only is this good news for our tourist trade and local economy, but it allows the CAT Fund, underwritten by Florida taxpayers, to carry over to next year without paying out for a natural disaster. Yet more importantly, it is good news for all of those homeowners that live in our county and don’t have adequate protection within their homes to defend against hurricane force winds.

 
If you have ever seen first hand the absolute devastation following a major storm such as Andrew, Charley or Katrina, you would immediately take steps to inquire howyou could prevent that damage from happening to your home.

 
In a hurricane, the pressures on a house are enormous.  If a window or door breaches, it is the differential in pressure that causes a sudden rush of air into the house that then blows out garage doors, windows and French doors, lifts drywall from ceilings and causes roofs to fail with catastrophic consequence.

 
All of the waterfront homes that we have built since 2001, when the new impact code for new construction was passed, include the most stringent forms of protections against wind, weather and surge. Masonry and exterior frame walls have all been beefed up to withstand impact and uplift pressures; new construction homes are required to be built above the relevant flood plain, thereby combating flood waters and surges; but by far, the best form of protection for a house is to install either impact windows or shutters.

 
Impact windows are designed with toughened glass to protect against hurricane force winds and flying debris. In addition, they provide security against intruders, dramatically reduce outdoor noise and can filter out over 90% of UV light. The negative side to impact windows is the cost of the window itself and the cost of installation.
A versatile alternative is to install shutters on your home’s openings. Depending upon your budget, the design of your house and the ease of installation, there are many types of shutters to choose from including Lexan panels, rolling shutters, accordion shutters, Armor Screen and Bahama or Colonial shutters.

The evidence is clear. When news cameras flew over the devastation of Hurricane Charley, it was shockingly apparent which houses had been built to the new FEMA codes and which houses had no defense against the destructive 145mph winds.

 
Having just survived another hurricane season, now is the time to assess what you can do to ensure that your home survives many more.

 
Murray Homes is a Certified Building Contractor #CBC1250846

SHORT SALE OR FORECLOSURE?

Listed below are the options?

1. Do Nothing – Not the best option, this will generally end in foreclosure.
2. Payoff/Refinance – Completely pay off the loan or refinance.
3. Reinstatement – Paying the entire default amount plus interest, attorney fees, late fees, taxes, missed payments and fees.
4. Loan Modification – Utilizing the existing mortgage company to refinance the debt or extend the terms of the loan.  To do this you need to qualify with the lender.
5. Forbearance – Lender may be able to arrange a repayment plan based on the homeowners financial situation.  Temporary payment reduction or suspension of payments.
6. Partial Claim – A loan from the lender for the 2^nd loan to include back payments, costs and fees.
7. Deed in Lieu of Foreclosure – Give the property back to the bank instead of the bank foreclosing.  Generally need to be up to date with payment and home has been well maintained.  This is not available if there are two different lenders.
8. Bankruptcy – This option can liquidate debt and/or allow more time. Bankruptcy lawyers can advise.
9. Short Sale – If the property has no equity, also know as a pre-foreclosure sale, can be negotiated with your lender by a Real Estate Professional if the amount owed is MORE than the property’s value.

Murray Realty has made this our priority to keep up-to-date and informed, with the current requirements for the Short Sale market.  We can help you decide which is the best path for you and also, assist you with selling your home and negotiating with the bank.  During this time we recognise that this is a very emotional and stressful time and we work hard to make the transition as smooth as possible.

August 2009 saw an almost 20 percent increase in local property sales than reported in August 2008, most likely fueled by the $8,000 first-time homebuyer tax credit, an economy in the midst of recovery after a two-year recession, and continuing low interest rates.

Total sales nearly reached the 500 level again, with 496 properties changing hands. The total included 382 homes and 114 condos. This compares to 329 homes and 86 condos sold in August 2008, for a 19.5 percent increase from last year at this time. The total was an expected drop from the July 2009 overall sales of 595, due to the traditional slower summer season. But the fact that sales did not dip as low as last year brought a sigh of relief from most local real estate brokers.

Most of the statistics continue to point to a market in the initial stages of recovery. Inventory levels continued to decline. There were 3,949 single family homes for sale at the end of August, compared to 4,067 for sale at the end of July, and down 11.8 percent from the 4,477 at the end of June. Condos experienced a similar decline, to 2,343, from 2,447 at the end of July and 2,587 at the end of June. Inventory remains at the lowest point in more than 5 years – a good sign for a market in recovery.

In August 2008, the inventory of unsold single family homes stood at 6,461 – roughly 63 percent higher than this year. For condos, there were 2,407 properties on the market in August 2008 – nearly the same as this year’s figure of 2,343.

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