“We knew this client was eligible for some relocation assistance but we did not realize it would be this much. It was a welcome surprise for our client who is having a hard time coming up with money to move,” said Anthony Lamacchia, owner and broker of Mcgeough Lamacchia Realty. “I think [BofA] is making many improvements across the board, and I applaud them for it.”

BofA posted the announcement in a statement Tuesday. In order to be eligible for the relocation assistance, BofA stated that the short sale must be initiated by the end of this year and close by September 26, 2013. Also, sellers must do their part and work proactively with the bank to obtain a preapproved sales price before submitting a purchase offer

The relocation expenses are offered at closing and can range from $2,500 up to $30,000, and the amount offered is determined on a case-by-case basis, with variables such as the value of the home and amount owed factored into the equation.

“This program can help customers make a planned transition from ownership when home retention options have been exhausted or they have made a decision not to keep the home,” said Bob Hora, home transition services executive for BofA.

Mcgeough Lamacchia Realty also posted an example of a cash incentive letter in which BofA outlined tips on how to more successfully complete a short sale.

The tips were to return all requested documents on time, respond quickly to counter offers, complete the release of subordinate liens where applicable, and stay in touch with your real estate agent.

In addition to the cash assistance offer, BofA also recently announced in April that it’s trimming response times for short sales down to 20 days. However, real estate professionals must do their part and submit five documents for a complete short sale package when initiating the process.

The five documents are a purchase contract including Buyer’s Acknowledgment and Disclosure HUD-1; IRS Form 4506-T; Bank of America Short Sale Addendum, which includes the Agent Certification form; and Bank of America Third-Party Authorization Form.

According to a BofA statement, the bank has completed 200,000 short sales in the last two years and another 30,000 in the first quarter of 2012.

The Orlando-Kissimmee area of Florida is one of the hottest vacation spots in the world, with more than 50 million visitors every year. Orlando was ranked the number-one summer vacation destination by a recent AAA travel agent survey and travel sales data. Further, the latest Travel Value Index study by leading discount travel site Hotwire.com named Orlando the number-one destination to get the most vacation for your money in 2012—in terms of entertainment options, attractions, and sheer value.

It’s no wonder many who choose this area for their vacations come back again and again! If you are a frequent visitor or you’re looking for a homier feeling than you can find in a hotel, you may be considering a vacation property investment. You’ll be glad to know that golden opportunities await you in this region of the Sunshine State!

The Time Has Never Been Better

With the real estate market on an upswing, a sunny outlook for property values, and so many terrific deals available, the time has never been better to invest in a vacation home in the Orlando-Kissimmee area. That’s why buyers from all over the world are flocking to this popular tourist spot to snap up desirable properties at great prices.

These properties promise to only keep their value but increase in value, as existing attractions are upgraded and new attractions are added to the area’s myriad of entertainment and vacation offerings.

New and Upgraded Attractions in the Orlando-Kissimmee Area

Close proximity to many attractions has long made the Orlando-Kissimmee area a highly desirable vacation destination. New and upgraded attractions are continuously pumping up the area’s vacation entertainment value to even higher levels. For example, here are just a handful of noteworthy additions for 2012 at Universal Orlando Resort:

• The Amazing Adventures of Spiderman Ride has added all-new HD film animation, 3-D glasses, and other enhancements designed to make the ride feel like a brand-new experience.
• Despicable Me Minion Mayhem, a new ride opening this year, promises “wildly hysterical” family fun!
• Universal’s Cinematic Spectacular – 100 Years of Movie Memories is a new feature that relives, and pays tribute to, iconic films.

Other new or coming attractions in the Orlando area include:

Three new attractions at SeaWorld, including TurtleTrek, a first-of-its-kind 3-D/360-

• the Penguin; and performance art by DRIP involving rock music accompanied by dancers performing with raining liquids and colored powders.
• A new Wet N’ Wild kids’ water park that promises to be the largest kids’ park in Florida, featuring 17 slides, two splash pools and more than a 160 soakers, water jets, cannons and waterfalls!
• CSI: The Experience at International Drive, a traveling exhibition combining the entertainment of the hit show with real-life scientific and investigative techniques.
• Kennedy Space Center Visitor Complex’s permanent display of space shuttle Atlantis, planned for 2013.

Find YOUR Orlando Area Dream Vacation Home!

To find your dream vacation property in the Orlando-Kissimmee area and relax in the comfort of your own home away from home in between seeing the sights, give us a call at FLAstay.com 321-677-0175! Purchasing property for vacation and/or investment is a smart decision, and the time and place have never been better.

The GSEs issued new guidelines Tuesday that fall under the Servicing Alignment Initiative rolled out last fall and aim to bring greater transparency to the short sale process and expedite decisions related to these pre-foreclosure sales.

Not only is a short sale an effective foreclosure alternative when home retention is no longer an option, but it keeps homes occupied and helps to maintain stable communities, according to the Federal Housing Finance Agency (FHFA).

Addressing real estate practitioners’ No. 1 complaint about short sales, FHFA directed Fannie Mae and Freddie Mac to establish a new uniform set of minimum response times that servicers must follow in order to facilitate more efficient short sale transactions.

The GSEs’ new short sale timelines require servicers to make a decision within 30 days of receiving either an offer on a property under the companies’ traditional short sale programs or a completed Borrower Response Package (BRP) requesting short sale consideration, whether it’s through the federal government’s Home Affordable Foreclosure Alternative (HAFA) program or a GSE program.

Starting Saturday, the bank’s goal will be to approve short sales in 20 days.

The move could spare delinquent homeowners from months of limbo while the bank considers offers from buyers. In some cases, frustrated buyers have waited six months or longer for the bank to approve a deal.

“I have to commend Bank of America for making this move,” said Suzanne Sherer, a member of a Florida Realtors commission working with banks to streamline short sales. “This makes sense. Bank of America is making major strides.”

Last fall, Bank of America serviced 1.1 million Florida mortgages, of which about 253,000 were delinquent.

Bank of America has been working with Equator, a real estate software company, to develop a program that allows short sale negotiators to approve the process faster, said bank spokesman Rick Simon.

He stressed that some short sales could still take longer than 20 days. The bank, he said, is committed to preventing foreclosures.

“We’re pleased with the positive response from real estate professionals,” Simon said. “We believe these new steps will increase the efficiency of the short sale process.”

The program, Simon said, is being rolled out nationally but will be more prominent in Florida.

Prior to the housing crash, banks lacked the means to handle selling millions of distressed properties. Trimming the approval process for short sales could clear thousands of homes from the distressed pipeline.

Real estate experts and economists have said the housing market cannot fully recover until the millions of distressed mortgages are removed from the system.

“That’s a good development,” said University of Central Florida economist Sean Snaith. “Hopefully, other banks will follow. Finally, there is some evolution.”

Bank of America will also limit prospective buyers to two counteroffers on the deals and will streamline the amount of paperwork that homeowners must submit. Sellers will no longer submit bank statements or pay stubs.

Homeowners have consistently complained about the amount of paperwork all the major lenders require to execute short sales. Property owners have been asked multiple times to fax the paperwork to different offices, adding weeks or months to the approval process.

Not any longer.

Under the new program, the real estate agents will load the documents into one computer system. All communication from the bank and agent will be stored in that system.

“There won’t be anymore finger pointing,” said Sherer, an agent with Remax Realty Team in Cape Coral. She recently closed a Bank of America short sale in 29 days.

Some local real estate agents are skeptical about the 20-day approval plan.

“I’ll believe when I see it,” said Liane Jamason, an agent with Smith & Associates Real Estate. “I’ll be pleasantly surprised if this happens.”

Steve Capen agreed.

The agent with Keller Williams Realty in St. Petersburg is handling more than 15 short sales with Bank of America. He acknowledged the lender is getting better at short sales and expects the new process to take three months before the kinks are worked out.

“Their track record isn’t that good,” he said. “They used to be just awful.”

Short sales are on the rise across the country and in Florida.

Major lenders are looking to save millions on court costs, lawyer fees and property taxes by avoiding foreclosure. Short sales also speed the process of getting bad loans off bank books and gets the properties back on the market faster.

To further sweeten the deals, lenders are waiving the deficiency on the mortgages, which would allow homeowners to sell the house for less than they owe without having to make up the difference to the bank.

The Federal Reserve recently recommended that eight more financial firms, which were not part of the government’s settlement, be fined for their foreclosure practices. The eight firms the Fed cited: HSBC’s United States bank division, SunTrust Bank, MetLife, U.S. Bancorp, PNC Financial Services, EverBank, OneWest and Goldman Sachs.

The Fed said these firms should be fined for “unsafe and unsound practices in their loan servicing and foreclosure processing,” Suzanne G. Killian, a senior associate director of the Federal Reserve’s Division of Consumer and Community Affairs, said at a House Oversight Committee last month.

The landmark $25 billion settlement announced earlier this year only encompassed the five largest banks: Bank of America, Citigroup, JPMorgan Chase, Wells Fargo, and Ally Financial. The banks agreed to the settlement, but did not have to admit any wrongdoing.

© Copyright 2012 INFORMATION, INC. Bethesda, MD (301) 215-4688

Bunny Brunch

The Mall at Millennia invites you for a springtime treat at the Bunny Brunch on Saturday, April 02, 2011. Celebrate the arrival of the Bunny from 9:00 a.m. to 11:00 a.m. in the Orangerie Cafés with entertainment, food, and splendid spring decor. Enjoy a hoppin’ dance party hosted by D.J. Renee, butterfly stilt walkers and a magician. Admission fee of $5 per person will be donated to Ronald McDonald House. Light brunch selections will be provided by mall restaurants.

The Bunny will be available for photos at his colorful tea party garden from April 2nd through April 24, 2011 during mall hours. Children of all ages will have a chance to visit the bunny and receive a complimentary springtime gift.

Epcot® International Flower & Garden Festival

Viva La Musica – APR 14         

SeaWorld Orlando hosts a vibrant Latino celebration during Viva La Musica with sensational music, concerts, dance, food sampling and crafts featuring the sights, sounds and tastes of the Hispanic culture.

This Saturday features Elvis Crespo in concert.

Event begins at noon. Concerts begin at 3 p.m.

Event is included with park admission.

The U.S. Finals – South Cheer & Dance – April 14

You have six minutes to showcase why your team’s routine deserves to be the best in the South. GO. The U.S. Finals is the BIGGEST end-of-season event series created to rank teams in all levels and ages of cheer and dance. This competition has grown into the single most successful multi-brand event in the U.S. attracting nearly 1,700 teams in 2011! We invite you to partake in this energy-packed competitive experience as girls flip, twist, kick, and turn their way to a medal!
Tickets
Tickets will be available at the Arena Box Office on the day of the event.
$16 for adults, $11 for kids 5-12 years old and senior citizens 55 and over
kids 4 and under FREE
Parking
$5

Sculpture Experience Pub Crawl – APR 14

6pm – 8:30pm

Take a stroll through the streets of Historic Downtown Kissimmee as you enjoy wine tasting, live music, food samples, art and a silent auction.
Kissimmee Main Street                                                                                                              

Caribbean Fusion – APR 29    

Admission: free

The family can enjoy delicious Caribbean Style foods and drinks, fun things for the children, arts and crafts and much more. Enjoy steel band music, Reggae Band, Latin Band, Indian dancers.

Osceola Heritage Park
1875 Silver Spur Lane
Kissimmee, FL 34744

EASTER NEWS AND NOTES:

For those observing Easter on Sunday, April 8, Walt Disney World will host religious services in the Fantasia Ballroom of Disney’s Contemporary Resort. Note that the parking lot at the Contemporary Resort, Polynesian Resort and Grand Floridian Resort & Spa will be operating under parking restrictions. As a result, resort guests staying around the monorail beam are encouraged to take the monorail or watercraft to the Contemporary Resort and all other WDW guests must use Walt Disney World transportation to the Magic Kingdom, then transfer to a shuttle bus to the Contemporary. The shuttle bus will be located at the bus loading area near the main entrance to the Magic Kingdom. The service schedule will be: Catholic Mass – 8 a.m. and 10:15 a.m. Protestant Service 9 a.m. To arrange for taxi service to these or other religious services off Disney property, contact Yellow/Checker Cab at 407-422-2222.

Magic Kingdom:   

– The Azalea Trail Maids will be at Magic Kingdom for a little procession before the afternoon parade on Easter Sunday.

– Guests can meet Mr. and Mrs. Easter Bunny at Tour Guide Gardens now through Easter Sunday.

Epcot:

– Easter Egg Hunts and Relays at the United Kingdom will be hosted by Mr. and Mrs. Easter Bunny in United Kingdom’s Maze Garden in the back of the pavilion. The Easter Egg Hunt for children ages 3-9 will be held every 10 minutes from 11 a.m. to 3:30 p.m. The Easter Egg Relay for ages 8-12 will be every 40 minutes after the hour with the first relay at 11:40 a.m. and the final relay at 3:40 p.m. A smaller egg hunt area will be provided for children under 3 years old. Check in at the podium at the United Kingdom up to 30 minutes before each hunt. Space is limited. Mr. and Mrs. Easter Bunny will pose for photos and sign autographs continuously 11:30 a.m. – 4 p.m.

– Easter Egg Hunts in Future World East will be held for children ages 3-9 at the Innoventions “East-er” Garden. Hunt times will be every 15 minutes from 10 a.m. to 4 p.m. Check in at the podium at the Future World East-er Garden (between Innoventions and Universe of Energy) up to 30 minutes before each hunt. Space is limited. Children of all ages are invited to participate in Easter activities such as bunny ring toss and Easter egg bean bag toss.

There is no charge to participate in any of the Easter activities.

ESPN Wide World of Sports is proud to once again partner with the Metro Atlantic Athletic Conference to host the 2012 MAAC Golf Championships at Disney’s Magnolia Golf Course here at Walt Disney World® Resort, on April 27-29, 2012. The MAAC consists of 10 member institutions including: Canisius College, Fairfield University, Iona College, Loyola College (MD), Manhattan College, Marist College, Niagara University, Rider University, Saint Peter’s College and Siena Collage. The top men and women of their respective institutions will come together, on the same course as the pro’s, to compete in their conference championships. For more information about the MAAC, visit maacsports.com

2012 Acrobatic Gymnastics World Championships and World Age-Group Competition
April 16-22, 2012 * ESPN Wide World of Sports Complex * Lake Buena Vista, Fla.

Performances will be at various times
Admission: $15.50 – $25.00

Don’t miss this exciting opportunity to see the World’s best Acrobatic gymnasts perform routines that are choreographed to music and consist of dance, tumbling and partner skills.

ESPN Wide World of Sports Complex
HP Field House
Lake Buena Vista, FL 32830

“Growing optimism about the economy, gains in the state’s jobs market and continued low mortgage rates are generating interest in Florida real estate,” says 2012 Florida Realtors President Summer Greene, regional manager of Better Homes and Gardens Real Estate Florida 1st in Fort Lauderdale. “Increased statewide pending sales for both single family existing homes, up 36.1 percent, and for townhouse-condo properties, up 19.8 percent, show that buyers are encouraged by these positive signs.”

Pending sales refer to contracts that are signed but not yet completed or closed; closed sales typically occur 30 to 90 days after sales contracts are written.

The statewide median sales price for single-family existing homes in February was $134,000, up 7.2 percent from the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department and vendor partner 10K Research and Marketing. The statewide median for townhome-condo properties was $95,000, up 15.9 percent over Feb. 2011.

The national median sales price for existing single-family homes in January 2012 was $154,400, which is 2.6 percent below the previous year, according to the National Association of Realtors® (NAR). In California, the statewide median sales price for single-family existing homes in January was $268,280; in Massachusetts, it was $265,000; and in Maryland, it was $219,500.

The median is the midpoint; half the homes sold for more, half for less. Housing industry analysts note that sales of foreclosures and other distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes.

Statewide sales of existing single-family homes totaled 14,270 in February 2012, down 4.8 percent compared to the year-ago figure. Looking at Florida’s year-to-year comparison for sales of townhomes/condos, a total of 7,545 units sold statewide last month, down 16 percent from those sold in February 2011. NAR reported the national median existing condo price in January 2012 was $156,600.

In February, the months supply of inventory stood at 6.2 for single-family homes and at 6.3 for the condos/townhomes, according to Florida Realtors.

“The overall picture that these statistics show is of a stabilizing housing market,” said Florida Realtors Chief Economist Dr. John Tuccillo. “While closed sales are down, so are listings and so is inventory. These are signs of a market that’s moving from being a buyer’s market to a balanced market.

“For the past year, median sales prices have been slowly rising; and over a longer period of time, prices have really flattened out – again, signs of an improving housing market.”

The interest rate for a 30-year fixed-rate mortgage averaged 3.89 percent in February 2012, down from the 4.95 percent average during the same month a year earlier, according to Freddie Mac.

According to author Gary W. Eldred in “Investing in Real Estate,” (2012) making a profitable investment in real estate is in some ways a simple decision. Location—as in the Orlando, Florida area—may provide a great premise for making long term gains in real estate. Disney area real estate creates value!

To derive long-term profit from a real estate investment, Eldred recommends evaluating the property before purchase for accessibility, convenience, appearance, quiet, and public transportation systems.
Disney Area Access and Convenience
As one of the country’s top airline routes, tourist, and business destinations, the Orlando, Florida area provides access. Travelers have no problem finding convenient air, train, or bus travel to the Orlando area. In addition, metropolitan Orlando (including Kissimmee and Sanford, Florida) offers the second largest number of hotel rooms, after Las Vegas, of any U.S. location.

Disney Area Appearance and Energy

Anyone who’s ever visited the Orlando metro area recalls the beauty and sheer excitement of a visit to the area. In business districts, visitors find a combination of new and old architecture. Older buildings reflect an original Spanish settlement past. Residential areas combine mostly newer construction with quaint central Florida homesteads and offer the “quiet” that author Eldred recommends as an essential component of real estate investment.

Investing in Disney area real estate

Real estate investors value research and information about a property prior to making an investment. Knowing the area in which the investor plans to purchase property is an essential part of the decision-making process. Not all neighborhoods or residential areas in the Orlando metro area offer the same potential for growth. Researching comparable properties within any part of the greater Disney area can be a confusing process. That’s why engaging an established real estate advisor with long-term roots in the area is a key to the decision-making process.
FLAStay: your Disney area real estate solution

Ziad K. Abdelnour of “Economic Warfare: Secrets of Wealth Creation” (2012) points out the high potential for real estate investment confusion in the Disney area. Deciding to purchase a real estate without a guide in the Orlando metro area may be fraught with economic peril.

Engaging the resources of a professional real estate advisor like FLAStay is a money-saving strategy. Whether you’re looking to buy or sell real estate, renovate a property, or renting a property relies upon information and research. FLAStay can present a short list of properties for your purchase or rental needs, or attract buyers when placing your property for sale.

FLAStay and Disney area real estate opportunity

Real estate investment opportunities abound in periods of financial uncertainty. The property’s cost basis, financing terms, and renovation costs affect property value. Identifying the right property for your needs, or finding the right real estate sales professional to liquidate your investment property, is like finding treasure.

Since you’re looking at real estate in Orlando, that’s only proper!
Contact FLAStay to discuss your real estate goals today.

16 billion jelly beans are made for Easter (that’s enough to completely fill an 89 feet high and 60 feet wide plastic Easter egg – about the height of a nine-story office building!)

82 percent of Americans say they would prefer a chocolate or candy bunny for Easter, while only 4 percent say they would prefer a live rabbit (can you blame them?!)

63 percent of Americans would most like to receive a chocolate bunny on Easter morning, followed by marshmallow bunnies (10 percent). The world’s largest jar of jelly beans weighed 6,050 pounds.

75 percent of kids are willing to do extra chores for extra Easter candy (what, we’re supposed to give them something for doing chores??!

According to the Guinness Book of World Records, the largest Easter egg ever made was just over 25-ft high and made of chocolate and marshmallow. The egg weighed 8,968 lbs. and was supported by an internal steel frame.

88 percent of adults carry on the Easter tradition of creating Easter baskets for their kids & 90 percent of adults hope for their own treat from the Easter Bunny. Who wouldn’t want chocolate?!

The first chocolate eggs were made in Europe in the early 19th century and remain among the most popular treats associated with Easter.

Kids first grab for chocolate bunnies (76 percent) when checking out their Easter baskets, followed by marshmallow treats (18 percent), malted milk balls/eggs (17 percent) and jelly beans (16 percent).

When it comes to knowing which types of bunnies please the palate, the majority of Americans say a solid chocolate bunny (42 percent) first and foremost, followed by a hollow chocolate bunny (21 percent), marshmallow bunny (10 percent) and other types of Easter bunny candy (9 percent).

Red jelly beans are kids’ favorite

Each day, five million marshmallow chicks and bunnies are produced in preparation for Easter.