Thursday, November 4, 2021

States With the Fewest Outgoing Residents




Of Americans who moved during the pandemic, 85% opted to move within their state, according to a new analysis from LendingTree, which evaluated mortgage loan data from March 1, 2020, to Sept. 21, 2021, to learn pandemic moving patterns.


Texas had the highest percentage of residents looking to stay in the state. On the other hand, New York had the highest percentage of residents who left the state.


The number one destination for out-of-state movers: Florida. “Florida is the favorite out-of-state destination for mortgage shoppers in 18 of the 50 states,” LendingTree researchers say in the study. “The Sunshine State has a long history of bringing in visitors and new residents, particularly retirees, thanks to a mix of affordable housing, no state income tax, and sunny weather.”


 






Wednesday, November 3, 2021

BE ON THE LOOKOUT FOR FAKE SELLERS




Scam alert: The pandemic led to an increase in online transactions, giving scammers a new window of opportunity: They’re contacting members as sellers who want to list their “home” – but it’s for a property they don’t actually own.


 


We’ve heard an unwelcome trend on Florida Realtors® Legal Hotline lately: people fraudulently posing as property owners. They enter into listing agreements with our members and contracts with unsuspecting buyers.


Fraud has long been an issue surrounding the sale of real property. The Statute of Frauds, which requires a contract for purchase and sale of real property be in writing and signed to be enforceable, originated in England in 1677. Florida has its own history with fraud, as people such as Charles Ponzi (whose last name is the origin of the phrase “Ponzi scheme”) sold swampland in Florida to unsuspecting purchasers in the 1920s.


Within the last few months, members have been reporting a new trend to Florida Realtors Legal Department: People sending electronic communications to brokerage firms, trying to convince them to enter into a listing agreement to sell property they don’t own.


We’re currently sifting through diverse stories to see if any trends make these fake sellers easier to spot. Please keep an eye out for any red flags so you can avoid becoming a victim of these fraudsters.


The first story we heard was reported in the newspapers, so it’s the most detailed report we have. A residential homeowner in Central Florida was staying at his family’s second home, which is located outside Florida. Some caretakers of his Central Florida home called to alert him that his locks had been changed, and that a lockbox had been placed on the front gate.


The homeowner was alarmed by this news, so he checked security footage, which showed people he didn’t know walking through his house. He quickly flew home and filed a police report. Two days later, he learned the rest of the story when a real estate licensee and photographer showed up to take listing photos. The stranger he noticed in his home on the security camera was the real estate licensee.


Someone posing as the owner had been communicating with the licensee through email and WhatsApp, and instructed the licensee to change the locks, claiming to have lost the keys. Thankfully, the owner’s intervention ensured the fraudulent listing didn’t progress beyond this point.


The rest of our reports are more second or thirdhand snippets of stories, but I’ve catalogued as many different pieces as I can, so you can be on the lookout for similar stories. Feel free to reach out to our Florida Realtors Legal Hotline with any additional examples you encounter. The more we know about these fraudsters, the better we can help our membership understand this issue and avoid becoming victims themselves.




  • A few of the fraudulent sellers provided copies of forged passports as evidence of their ownership.




  • Some provide excuses as to why they can’t provide identification. One recurring excuse blames the embassy, with a story like “I’m currently renewing my visa, so the embassy has my passport.”




  • One listing relationship with a fraudulent seller was terminated early on when the real estate licensee heard from local residents that the actual owner loved that property, so they were surprised that he would ever want to list it.




  • In one instance, a member with a real listing had to call a different brokerage firm to find out why their yard sign was already on the property. The answer, of course, is that one of their “sellers” was the actual owner, while the other was a fraudulent seller.




  • Another listing relationship progressed to the point of opening a file with a title agent. However, the title agent was able to discern that the passport provided by the alleged “owner” was fraudulent.




  • One likely fraudulent seller claimed to be a German citizen who would be traveling throughout South Africa during the term of the listing.




  • At least one of the fraudulent listings was for vacant lots owned by a person who is deceased.




  • Many of the properties listed for sale were vacant land, although we have also heard about residential and commercial properties.




  • Many of the listings seem to be for properties outside the member’s usual farming area, so they are less familiar with the local scene.




  • A number of these listings have moved to the contract stage, where the fraudulent owner is willing to e-sign an agreement and begin moving towards closing.




As you can see by these bullet points, it’s hard to pick out a consistent red flag. In some cases, the fraudster makes excuses about why they can’t provide identification. In others, they provide fake identification. Sometimes, the owner is deceased or foreign, while other times the owner is alive and well – and in one case actively trying to sell the property themselves!


We haven’t heard any confirmed stories of a fraudster who made off with someone else’s money, whether by deposit or a transaction that made it all the way through closing. That said, we’ve only been hearing these stories for a few months now, and it’s a new fact pattern for us. We will continue to monitor the situation, and any insights you can share from the field are welcome! Florida Realtors members are welcome to call our Legal Hotline Monday through Friday, from 9:00 a.m. to 4:45 p.m. at (407) 438-1409.


For more information, visit WINK’s website. This television station posted a newscast (Opens in new tab.) that outlines a number of these scam attempts in Southwest Florida.


There is a similar scam that has been around for a while, and it’s worth mentioning, as a reminder. It’s the fake landlord scam. In this case, a scammer locates vacant residential property and posts a fraudulent rental listing, often on Craigslist or similar message boards. Many unsuspecting tenants have been defrauded out of deposits and advance rents delivered to fraudulent landlords, so they should always be on the lookout for red flags when renting.


 


Source: Florida Realtors®



Tuesday, November 2, 2021

The latest alternative housing trend: Barndominiums




Barndominiums: Has the latest alternative housing trend hit Florida?


 


It’s no secret reality television influences society.


But in 2016, when Chip and Joanna Gaines of HGTV’s “Fixer Upper” transformed a Texas horse barn into a 2,700-square-foot condominium, it resonated with viewers.


“Barndominiums,” a modern country-living trend boasting affordability, versatility and low maintenance, has been growing in popularity ever since — more so recently, as the coronavirus pandemic continues to redefine living standards.


Has this emerging real estate rage made its way to the Sunshine State?


What is a barndominium?


 


Barndominiums have exploded in more rural areas such as Texas, Oklahoma and New Mexico, said Don Howe, author of “Build Your Dream Barndominium,” who also runs an online blog, barndominiumlife.com.


In Florida, it’s been a “slow burn” that’s still gaining momentum, he said.


The state was 34th nationwide in barndominium inquiries, Howe said, speculating that Florida’s coastal living is more appealing than the rural charm of barndominiums.


“Barndos,” as they’re often called, likely would be more popular in the Panhandle or central, inland counties, Howe said, but not as much on the Treasure Coast.


Indian River County contractor Ryan Canady has built “quite a few” barns for residents with office space inside, but none that serve as a primary residence. He anticipates interest to keep growing, but agreed it might be a hard sell along the Treasure Coast.


“Keep in mind, we’re all on coastal communities. These barndominiums are for an agricultural setting,” he said. “So it’s not like you can go into a gated community and build a barn with a house in it.”


For Joe Craft, owner of Florida Barndominiums, LLC, a construction company based in North Port, a majority of inquiries are from Hernando and Citrus counties. Craft, who started his business in April, said he has about 80 clients throughout the west coast and Panhandle. All are in preliminary permitting and design phases, yet to be built.


In DeSoto County, Bud and Pat Wright built their own barndominium. The couple started the process early last year, Pat Wright said, after moving from five acres to 14.


Wright had a specific vision for the design, and it took about a year and three months to construct the 2,080-square-foot Florida cracker style barndominium, comprised of red steel beams, a metal roof, wood ceilings and walls, drywall and soffits.


“I wanted this house to be unassuming,” said Wright, 68. “From the outside, it looks very small. When you walk in, it’s surprising.”


Barndominium pros and cons


COVID-19 heightened people’s interest in barndominiums, Howe said, as remote employment became the norm and construction prices soared.


Barndominiums offer more spacious living arrangements at lower costs, Howe said, about 10% to 20% cheaper than building a traditional single-family home. Amid Florida’s booming real estate market, many people are being priced out of buying existing homes and are opting for construction, Howe said.


There is also much more freedom in the design, he said. At its core, a barndominium is just a metal-framed building and a slab of concrete flooring.


“This is a box, and you can make the floor plan anything you want,” Howe said.


Craft began building barndominiums in Arkansas about three years ago and fell in love with them, he said, so much so he brought the business with him to Florida. The biggest issue is finding a knowledgeable contractor, the 22-year veteran said.


“I’ve searched myself for other barndominium builders and most of them that I find are steel erectors, and they’re not actually a licensed contractor,” Craft said. “Clients that I’ve talked to can find people to erect the building, but then a lot of other contractors just have a blank stare and don’t know what they’re talking about.”


Wright echoed Craft’s concerns, adding she and her husband met with a few contractors that were “fired pretty quick” because they didn’t know exactly what to do.



Monday, November 1, 2021

New Freddie Mac survey results: mortgage rates still on the rise




Inflation and stricter policies continue to put upward pressure on interest rates


US mortgage rates moved up for the third week in a row, with the 30-year fixed-rate mortgage closing the week at 3.14%.


The 30-year mortgage rate increased from 3.09% last week to 3.14% for the week ending October 28, according to Freddie Mac’s latest Primary Mortgage Market Survey. At this time a year ago, it averaged 2.81%.


The 15-year fixed-rate mortgage (FRM) posted a four-basis-point uptick from the previous week to 2.37%, while the five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) increased two basis points to 2.56%. Last year, the 15-year FRM averaged 2.32%, and the five-year ARM was 2.88%.


“The yield on the 10-year Treasury note has been trending up due to the decline in new COVID cases, increasing consumer optimism, as well as broadening inflation and persistent shortages,” said Freddie Mac chief economist Sam Khater. “Mortgage rates are also rising, but purchase demand remains firm, showing that latent purchase demand exists among consumers.”


Holden Lewis, home and mortgage specialist at NerdWallet, added: “Inflation, accompanying a stubbornly recovering economy, is pressing upward on mortgage rates. The remedy — stricter monetary policy — will cause mortgage rates to rise, too.”


Higher rates continue to reduce borrowers’ incentive to refinance, according to the Mortgage Bankers Association. While the total mortgage application volume edged up three basis points last week, refinance applications were down 2% week over week and 26% year over year.


 


Article Link



Friday, October 29, 2021

Our Team Members







Veronique Shapiro


> Return to the Our Team page


 


reverse mortgage - HECM - Home Equity Conversion Mortgage - Veronique ShapiroMortgage Loan Originator & Reverse Mortgage Specialist

772-418-0010

VCSMortgageSolutions@gmail.com

NMLS# 1283454

 


When we initiated our search for someone to head our Reverse Mortgage division, we knew that we needed to focus on finding someone that understood the reverse mortgage loan process and Home Equity Conversion Mortgages (HECM) completely, and that possessed the ability to communicate with clear and accurate information so to correct the misconceptions and falsities that have haunted this product in the past.  When we found Veronique Shapiro, we knew our search was over.


 


During her professional life, Veronique has worked  with mature adults in various capacities, but always in a position to enhance their lives in some way.  Her compassion and dedication toward seniors lends itself to establishing trust and instant rapport with her clients.  Unlike many in her area of expertise, Veronique welcomes face to face meetings rather than conversations over the phone, she feels this is an important step in understanding her clients’ needs and allows them to know her on a much more personal level.


 


Veronique truly believes in the product she specializes in and loves knowing that every time she closes on a Reverse Mortgage, she has assisted her clients by improving their financial situation and ultimately freeing up funds that can be used to enjoy their retirement and achieve continued independence.


 


Outside of the office, Veronique enjoys spending time with her Husband and Son, coming from a large family Veronique cherishes every moment with the people she is closest to, and loves nothing more than watching her son play sports. She is known for her affinity towards seniors both at work and in her free time.  She is actively involved with the Alzheimer’s Association and Making Strides Against Breast Cancer of St. Lucie County.


 


If you are interested in learning more about the benefits of a reverse Mortgage and Home Equity Conversion Mortgages (HECM) for yourself or possibly a family member, give Veronique a call and schedule a meeting.  You will be glad you did.


 


More Information about a Reverse Mortgage and a Home Equity Conversion Mortgage (HECM)


 


Mortgage Masters Group

Reverse Mortgage


 


Consumer Financial Protection Bureau

Are there different types of reverse mortgages?


 


Benefits.gov

Home Equity Conversion Mortgages (HECM)


 


HUD.gov

Home Equity Conversion Mortgages







Our Team Members







Veronique Shapiro


> Return to the Our Team page


 


reverse mortgage - HECM - Home Equity Conversion Mortgage - Veronique ShapiroMortgage Loan Originator & Reverse Mortgage Specialist

772-418-0010

VCSMortgageSolutions@gmail.com

NMLS# 1283454

 


When we initiated our search for someone to head our Reverse Mortgage division, we knew that we needed to focus on finding someone that understood the reverse mortgage loan process and Home Equity Conversion Mortgages (HECM) completely, and that possessed the ability to communicate with clear and accurate information so to correct the misconceptions and falsities that have haunted this product in the past.  When we found Veronique Shapiro, we knew our search was over.


 


During her professional life, Veronique has worked  with mature adults in various capacities, but always in a position to enhance their lives in some way.  Her compassion and dedication toward seniors lends itself to establishing trust and instant rapport with her clients.  Unlike many in her area of expertise, Veronique welcomes face to face meetings rather than conversations over the phone, she feels this is an important step in understanding her clients’ needs and allows them to know her on a much more personal level.


 


Veronique truly believes in the product she specializes in and loves knowing that every time she closes on a Reverse Mortgage, she has assisted her clients by improving their financial situation and ultimately freeing up funds that can be used to enjoy their retirement and achieve continued independence.


 


Outside of the office, Veronique enjoys spending time with her Husband and Son, coming from a large family Veronique cherishes every moment with the people she is closest to, and loves nothing more than watching her son play sports. She is known for her affinity towards seniors both at work and in her free time.  She is actively involved with the Alzheimer’s Association and Making Strides Against Breast Cancer of St. Lucie County.


 


If you are interested in learning more about the benefits of a reverse Mortgage and Home Equity Conversion Mortgages (HECM) for yourself or possibly a family member, give Veronique a call and schedule a meeting.  You will be glad you did.


 


More Information about a Reverse Mortgage and a Home Equity Conversion Mortgage (HECM)


 


Mortgage Masters Group

Reverse Mortgage


 


Consumer Financial Protection Bureau

Are there different types of reverse mortgages?


 


Benefits.gov

Home Equity Conversion Mortgages (HECM)


 


HUD.gov

Home Equity Conversion Mortgages







Halloween Weekend Fun




The Buggy Bunch Pumpkin Patch



Date: Saturday October 16, 2021 through Saturday October 30, 2021.

Time: Times Vary

Location: Church of Christ

Address: 3306 20th Street Vero Beach, FL 32960

Price: free, Family Fun Days- $7/child

Category: Fall Festivals & Halloween


Join us for games, a corn pit, kiddie corral, photo opportunities, and more! Family Fun Days are October 23 and 30. Enjoy all the Patch activities along with hayrides, inflatables, face painting, and delicious food. Hours are M-F 3pm-7pm, Sat 10am-7pm, Sun 12pm-5pm


****************************************


Rocky Horror Picture Show with LIVE Shdow Cast Hits The Barn Theatre Stage



Date: Friday October 29, 2021 through Saturday October 30, 2021.

Time: Times Vary

Location: The Barn Theatre

Address: 2400 SE Ocean Blvd, Stuart, Fl

Price: $25; Goody play bags are $5

Category: Entertainment



It’s time for our traditional TIME WARP and the zany characters of the cult film classic Rocky Horror Picture Show. See it on the Barn’s big screen and participate with our LIVE SHADOW CAST as they play out the roles of the major characters of the film. You are encouraged to dress up in your Halloween costumes. As it is every two years, this show will be Halloween blast. Tix are only $25 and play bags containing assorted goodies to be used during the performance are only $5. For tickets, call the box office at 772-287-4884 or www.barn-theatre.com. Help make this a successful fundraiser for the Barn Theatre, a non-profit community theater and recipient of the mARTies Recognition Award.


Show times are Friday, Oct 29 at 7PM and Saturday, Oct 30 at 7PM & 11:45PM.


Covid measures in place.




****************************************


Films in the Field: Hocus Pocus



Date: Friday October 29, 2021

Time: 7:00 pm – 10:00 pm

Location: Sportsman Park

Address: 201 NE Prima Vista Blvd, Port Saint Lucie, FL 34983

Price: FREE

Category: Film / Movie


Come join us for another exciting installment of United Against Poverty’s Films in the Field series, sponsored by Port St. Lucie National Little League!

This is a FREE EVENT! Trunk or Treating begins at 7pm, with the film starting at 8pm! Come in costume!


****************************************


Fall Fun Fest


Fall Fun Fest


MIDFLORIDA Credit Union Event Center

Date: Friday October 29, 2021 through Sunday October 31, 2021.

Time: Times Vary

Location: MIDFLORIDA Credit Union Event Center

Address: 9221 SE Event Center Pl, Port St. Lucie , FL, 34952

Price: Free

Category: Kids / Family


There is a chill in the air, you know what that means … Fall Fun Fest!

Celebrate the return of autumn with this three-day event that is jam-packed with live music, a carnival, food vendors and our Street of Treats trick-or-treating event. Free and for all ages.Enjoy live music!

Friday, Oct. 29, 5-10 p.m. | Band

Saturday, Oct. 30, noon-10 p.m. | Band

Sunday, Oct. 31, 1-6 p.m. | Band




****************************************


CAR show, TRUCK or TREAT


Date: Saturday October 30, 2021

Time: 10:00 am – 3:00 pm

Location: Dyer Chevrolet

Address: 4200 S Highway US1 Fort Pierce Florida 34982

Price: Free

Category: Fall Festivals & Halloween


Themed vehicle contest

Costume Contest

PRIZES & TROPIHES

Door prizes and GIVEAWAYS

Saturday, October 30th, we are having our TRUCK OR TREAT event at Dyer Chevrolet Fort Pierce, with the help of No Name Car Club

Bring the kids, bring the crew, bring the whole neighbourhood.


****************************************


Authentic Paranormal Investigation



Date: Saturday October 30, 2021

Time: 7:00 pm – 11:00 pm

Location: Elliott Museum

Address: 610 SE Krueger Parkway

Price: $50 per person

Category: Community


Investigate the historical artifacts inside the Elliott Museum for the first time. Equipment provided for hands on participation.


****************************************


Trick-or-Treat Stoll


Trick-or-Treat Stoll


The Children’s Museum of the Treasure Coast

Date: Sunday October 31, 2021

Time: 2:00 pm – 5:00 pm

Location: The Children’s Museum of the Treasure Coast

Address: 1707 NE Indian River Drive, Jensen Beach, FL, 34957

Category: Kids / Family



Join The Children’s Museum’s for a fun evening at our Trick-or-Treat Stroll on October 31 at 2:00-5:00p.m! Tickets will be priced at $3 for non-members and Members are FREE.


Enjoy Trick-or-Treat stations at all our exhibits and throughout the museum! This event will also feature face painting, costume contests, food trucks, and of course some Spook-tacular decorations! We encourage you to dress up in your best costume, but it is not required. There will be no play inside the museum during the event. Due to COVID-19, face masks are strongly recommended but not required for this event.




****************************************


BOOtanical Halloween



Port St. Lucie Botanical Gardens
Date: Sunday, October 31, 2021
Time: 4pm to 7pm
Address: 2410 SE Westmoreland Blvd., Port St. Lucie, FL 34952

It’s that time again kids…put on your costume, come to The Gardens, and join in the Halloween fun. Trick or Treat in the secure and serene Port St. Lucie Botanical Gardens.  Join our  ghosts, ghouls & goblins in their search for goodies, candies and more.  Have fun as you take a BOOtanical journey through our Halloween Forest… if you are brave enough!. The is a free event and open to Children up to 13 years old and their families.  Children MUST be accompanied by an adult. No Drop-offs.  Come early as entry usually gets closed to further cars shortly after 6pm.