You may have noticed that we have been going through some great changes & improvements on our web space thanks to our amazing developers at Active Website.  Of course, we wouldn’t leave the blog out of those changes!  While we have had a great run on www.smithblogonline.com, we are moving to a new Tampa home within our site, www.smithandassociates.com.

Be sure to visit us at our new domain www.smithandassociates.com/blog/ where you will find updates on the current Tampa Bay market as well as community happenings, local vendors and much more.   Keep an eye out for more changes to come; We think you will like them.

Thanks for being such great followers & we can’t wait to see you there!

Do you have any ideas or suggestions for upcoming changes & additions?  What would you like to see?

Q: What distinctive features set this home apart?

A: This is a Windstar Homes masterpiece built to the highest industry standards with the finest craftsmanship & technological advances available today. This 7000+ sq. ft. residence features 5 bedrooms, 6.5 baths, a magnificent entryway courtyard leading into the grand foyer, formal living room, family room, formal dining room with climate controlled wine room, beamed ceilings, Spanish tiled details, elevator, 4 fireplaces, low voltage lighting, whole house surround sound system, smart house technology, impact windows, up/down laundry rooms, kids retreat, outdoor kitchen, dock, boat lift, double jet ski lift, & protected sailboat depth water, and so much more!


Q: Can you describe the architectural style of the home?

A: The St Pete home is best described as Spanish Mediterranean. Architectually, the home is designed with the warmth & elegance of a bespoke Mediterranean villa within the walls of fortress.

Q: What are the advantages of the location & neighborhood?

A: The property is located in St. Petersburg‘s Snell Isle on one of the most exclusive boulevards in all of Tampa Bay.  From Casa de Encanto one can walk or bike into downtown St. Petersburg via one of the city’s finest waterfront promenades and by boat one will enjoy direct unobstructed access out to Tampa Bay from the property.

Q: Can you tell us a fun fact about the home?

A: Each Windstar Home is a custom designed masterpiece. Casa de Encanto features a separate and hidden guest casita that rivals any luxury hotel suite.  The home also features a fantastic climate controlled wine room that will please the most discriminating of wine collectors.

This luxurious Mediterranean Villa at 851 Brightwaters Blvd NE, St. Petersburg, FL 33704 is like none other in the area.  Contact The Malowany Group for a view inside the fortress-esq walls.

About The Malowany Group:

From waterfront estates in Snell Isle, the Old Northeast, Tierra Verde, and Belleair Bluffs to multi-million dollar luxury condominiums in downtown St. Petersburg, Clearwater and St. Pete Beach, The Malowany Group’s knowledge of the area’s finest neighborhoods is unmatched.  With over 38 years of combined real estate experience, a proven track record as one of the leading sales teams in the St. Petersburg area and an unyielding dedication to all of their clients, Frank Malowany and Rebecca Lemmon are the clear choice when selling or buying a property.

The concept:

*  All homes will be in the Plant High School district but will vary in elementary schools, giving families more options for younger children
*  Homes will be located in various areas of central South Tampa
*  The average price point varies from the high $400s to $600K
*  4 Bedroom minimum in each home
*  Lot size will vary but will range from 50′ x 80′ to 80′ x 130′
*  All are built following several consumer expectations: hardwood, granite, beautiful cabinetry, stainless steel appliances & double paned windows for energy efficiency.  Many of the homes also feature tankless gas water heaters & gas stoves to reduce the use of electricity.
*  While the homes all lean towards more of a traditional/mission style combination with a square shape & clean lines, there will be 5-6 different floor plans

The past two years….

BG Holmberg led Ryan to his first lot purchase in September of 2009 and the duo have since collaborated on 17 more lot purchases, 13 home completions (12 of which have already sold) and 3 homes are currently under construction.  Since these are all built to specifications to remain in the realm of the original concept, very few changes are made by the buyers and the homes are not typically listed until near completion.  That doesn’t mean you should wait until the last minute if you are looking to purchase one of these beauties; 10 out of the 12 that have sold were under contract before the home was even move-in ready.

What should you be looking for in the future?

Since Ryan oversees all of his projects on his own, he works on a maximum of 5 homes at a time, all of which are exclusively marketed by BG Holmberg via Smith & Associates Real Estate.  The two plan on knocking out (or rather, building up) 8-10 homes per year with an undecided end point or until South Tampa meets all of their specifications.

If you are interested in one of these South Tampa homes, contact BG Holmberg to arrange a meeting.

What do you look for when it comes to purchasing a new home?  Do their specs meet your requirements?

On Friday, October 14th, the Chihuly Exhibit closed it’s doors to the public from 6-8pm, allowing for a private more intimate atmosphere open to only the Signature residents and their guests.  While the museum was closed, that doesn’t mean it was empty;  The event summoned up an amazing turnout with upwards of 140 in attendance.  Guests enjoyed great company, food & wine as well as a documentary on Dale Chihuly and a private tour of his installations & works residing in the St. Petersburg exhibit.  Many attendees have already visited the museum but loved the opportunity to visit again with friends & neighbors.  According to feedback from Scott Allen, “Those that visited the museum for the first time were thrilled and impressed.”

While the Newman & Allen Team continues grow their market share in the Bay area, they will never cease to take care of their community and the Signature residents.  Scott claimed that “The Morean Arts Center’s relationship with [Smith & Associates Real Estate President/CEO] Bob Glaser (pictured above middle) was key to this event’s success”.  However, we know that not only the event’s success but St. Petersburg as a whole would not be the same without he & Debbie either.  The Newman & Allen Team is one of the top producing collaborations in the area, yet their humbleness is always present and genuine.

To see more photos from the event, click here.  Have you attended one of the Newman/Allen events?  What did you think?

The bank filed a foreclosure suit, won, took title, and sold the property to an independent third party. Now imagine that you are the third party purchaser – you bought a home from a bank that obtained title via foreclosure. You move into and live in the house you purchased from the bank at a foreclosure auction.  Then suddenly, the original homeowner, who owned the property before the bank foreclosed, has convinced a court that she still owns the property.  Incredibly, in light of the bank’s failure to correctly prosecute the foreclosure lawsuit, the homeowner is right –  she still owns the house.

The problem is created through a break in the chain of mortgage ownership. Until the 1980’s, most mortgages were loans between the homeowner and a bank, who lent the money directly.  More recently, the mortgage financing system transformed into an international system of securitization, with mortgage lenders packaging their loans into securities, bought and sold by investors like stocks. These transactions even split individual mortgages into sections, where each loan could have parts owned by different investment banks.

The transfer of ownership in these mortgage backed securities (MBS) was done with contracts on the balance sheets of Wall Street investment banks, such as Morgan Stanley and Goldman Sachs. The company who originally appeared to make the loan was normally a retail lending company such as Countrywide or Lending Tree, who typically acted as a sales company, and sometimes remained contracted to service the loan.

In the event that the loan goes into foreclosure at a later date, the then-current owner of the loan files the foreclosure and sells the property to a new owner, often at auction. The land records would show a deed of transfer from the investment bank to the new owner. This creates a break in the chain of ownership of the mortgage rights. In many cases, the transfer of ownership of the mortgage loan has gone from the original lender, through several owners, and then to the foreclosing bank, none of which is recorded on the property title history. Technically, the foreclosing bank has no recorded title rights to foreclose in the first place.

MERS announced it changed its procedures to require that an assignment of mortgage be filed prior to the start of any foreclosure suit. Typically, a mortgage is recorded in the public records with MERS as nominee for ABC Corporation. Invariably, when the foreclosure lawsuit is filed, it is not filed in the name of ABC Corporation it is filed in the name of Bank of America, JP Morgan Chase or some securitized trust – an entity with no relationship to ABC Corporation.

In most foreclosure cases, banks’ lawyers argue the plaintiff has standing if it is the “holder” of the Note (i.e. if it possesses the original note with a special endorsement in blank.) Many judges accept this position, no questions asked and thus, an assignment of mortgage is often viewed as irrelevant and superfluous.

Even if Bank of America, JP Morgan Chase, or the securitized trust has standing without an Assignment of Mortgage in the public record, ABC Corporation is still the mortgage holder of record. This means that even if Bank of America, JP Morgan, or whoever prevails in the foreclosure is the high bidder at the auction, acquires title, and sells the property to a third party, ABC Corporation is still the mortgage holder of record. What does that mean? Essentially, the entire foreclosure case was like a wild deed – it took place, but ABC Corporation can still institute a foreclosure lawsuit in its own name, as it would have priority over the bona fide purchaser who acquired title from the bank.

If ABC Corporation is the mortgage holder of record, and it is not named as a party in the mortgage foreclosure suit, and there is no Assignment of Mortgage, then the mortgage in favor of ABC Corporation still exists, even after the foreclosure, even after the auction, and even after the sale to the third party. The foreclosure happened, but as far as ABC Corporation is concerned, the foreclosure is irrelevant – it still has the mortgage.

To sum it all up, when purchasing your next Tampa home, especially in the case of foreclosure, it is very important to seek the advice of a real estate attorney and if possible, purchase title insurance when you purchase a property.

This month, the American Cancer Society (ACS) encourages women to “Put on your pink bra and join us in Making Strides Against Breast Cancer. The pink bra is an empowering symbol of how personal the fight against breast cancer is. During our Making Strides events, a sea of participants in pink bras will join together to take up arms against the disease. This noncompetitive, 3.2-mile walk that celebrates breast cancer survivors and raises funds to save lives by helping people stay well, helping people get well, by finding cures and fighting back.”

Smith & Associates Real Estate has formed a team to participate in the Making Strides Against Breast Cancer Walk on October 22nd and are accepting donations online at  www.putonyourpinkbra.com.  Look for Team Smith & Associates or drop off a check at our Tampa office (3801 Bay to Bay Blvd), made payable to “American Cancer Society, Making Strides.” Donations of all amounts are welcomed and any amount over $100 or more will get you an event t-shirt!

Tampa Realtor, Janet Mendez welcomes & encourages friends, family, survivors & and clients to decorate a pink bra, wear it over your t-shirt and join our team for the walk. It’s a great way to show your children & grandchildren how a lot of people doing a small part for a big cause makes for huge results!

Event Details
Making Strides Against Breast Cancer
Saturday, October 22, 2011
7:30am Registration
9:00am Walk Begins

Location:
St. Pete Times Forum
401 Channelside Dr.
Tampa, FL 33602

A few fun facts on the American Cancer Society & why we are so eager to support them:

Helping people get well and stay well:
* The American Cancer Society’s screening guidelines are the gold standard for doctors and patients.
* Every 30 seconds someone calls the American Cancer Society and breast cancer is the top reason for calling. ACS provides support and information 24 hours a day via 800-227-2345 and online at cancer.org.
* The ACS is there with a sympathetic ear, cancer information, a ride to treatment, help accessing other resources in their community and many other services.

Finding Cures:
* The American Cancer Society has been involved in nearly every major breakthrough in the fight against breast cancer, helping make less radical surgery possible and finding lifesaving treatments such as Herceptin and Tamoxifen.
* ACS funds more research than any other nonprofit, next to the federal government.
* Fourty-four ACS funded researchers went on to win the Nobel Prize.
* The American Cancer Society invests more in breast cancer research than any other cancer type.  Today, ACS invests $115 million in 220 breast cancer research projects nationwide and more than $6 million for 11 research initiatives in Florida.

Figthting Back:
* The American Cancer Society is the leading voice for cancer patients in the Florida capital as well as Capital Hill.  Because of their advocacy, Florida developed two cancer research programs over the past decade and since just 200, has funded $7 million in breast cancer research.
* ACS is currently fighting for state funding to ensure ALL women in Florida have access to mammograms and breast cancer treatment.
* Making Strides Against Breast Cancer events bring communities together and give people a voice to fight back against the disease. The events raise both awareness and vital funding to make more progress and save lives.

If dropping off donations at the office, look for our “Making Strides Against Breast Cancer” flags and for a $25 donation, a pink flamingo will be placed in our yard honoring or remembering a loved one of the donor’s choosing.  Have you or someone you know fought the battle with breast cancer?  What are your favorite supporting charities?

(Photos courtesy of American Cancer Society Making Strides Against Breast Cancer)

Q: What distinctive features set this home apart?

A: Campagna Homes designed this custom residence with a feeling of grandness and attention to detail. As you step into the home your breath will be taken away by the spiral staircase and stunning chandeliers featured in the entryway. The decorative ceiling details throughout, two story stone fireplace in the formal sitting room that can be overlooked by the bridge style corridor to the upstairs living quarters, the relaxed open floor plan family room with gourmet kitchen, media/billiard room, formal study and additional den all make this home a true one of a kind.

Q: What are the advantages of the location & neighborhood?

A: The Champions’ Club is located in the midst of the tri-county region, only minutes away from the culture, commerce and conveniences of downtown Tampa, Clearwater and St. Petersburg. Just a short drive from home you have access to everything from beaches, sporting events, airports, shopping, theme parks and more. Residents will find that Trinity offers some of the best schools in the area, retail stores and restaurants, a multi-million-dollar YMCA, a performing arts center and leading medical facilities.

Q: Does the community have any amenities we should know about?

A: At the heart of The Champions’ Club is the exclusive resident’s only clubhouse. The “Club” features a versatile Club Room with a catering kitchen and pass-through bar for indoor or outdoor dining. There’s a tennis pavilion as well as a fully equipped fitness center including a spa and treatment room with men’s and women’s locker rooms. The pool area features a lushly landscaped sundeck and resort pool lined with chaises and umbrella tables. Access to everything The Champions’ Club has to offer can be orchestrated by the concierge who will handle every detail.

Q: Can you tell us a fun fact about the home?

A: The grand homes of The Champions’ Club wind along the tree-lined Fox Hollow Golf Club and the Trinity home on Pontofino overlooks the 11th Fairway.  This was the last course ever to be designed and built by legendary golf course architect Robert Trent Jones.

10620 Pontofino Cr, Trinity, FL 34655 is packed full of luxurious amenities.  Between that & the perfect location, this luxury home will not stay on the market long.  To take a tour of the property, contact Brandi & Christine.

About Brandi & Christine:

Not only do Belleair Realtors Brandi Gabbard & Christine Knighton bring a wealth of Real Estate, mortgage & banking experience to the table, but their #1 goal is to help you achieve your hopes and dreams during your next home buying or selling adventure.  These two local residents stay up-to-date on the entire Bay Area market, from Pasco to Pinellas to Hillsborough and are committed to making every transaction better than the last.

With rates still at their all time low, many clients are interested in refinancing their home, or purchasing a home. The question of what their home is worth comes up almost immediately. It usually becomes a long conversation. Although, I am not an appraiser, I do give a few suggestions to my clients if they are concerned with value:

1)  If you are refinancing it may be a good idea to contact your Realtor that assisted you when you purchased the home. Your agent can provide you with a current updated market analysis.
2)  If you are purchasing a home your lender will require an appraisal, should there be a concern with a value up front, I also suggest having the seller pay for an initial appraisal. Your lender will not be able to use the same appraisal, however your agents can provide this to the lenders appraiser so they have additional information to consider.
3)  Also keep in mind if you are going to your local tax authority website, the market value that is reflected on that site typically is not a true market value of the property.

The best way to go about refinancing or purchasing is to utilize your local Realtors when you are inquiring about the value of your current Tampa home or a new home. We are also here as a lender to assist you with qualifying and determining the perfect and most comfortable financing options available to you.

Have you ever found yourself debating refinancing?  What are some of the questions you would like to see answered by our Mortgage Team?

While this app looks very similar to the one that was previewed a few months back, to many it is new and absolutely fabulous.   It is built in layers to keep everything clean and prevent the need to navigate away to an external source so users can watch videos, play games, browse photos and chat all at the same time without leaving the comfort of the application.  There is also a swipe-down feature (similar to the iPhone app) that allows you to refresh your feed without much effort at all and a nifty little “nearby” section that actually pulls up a google map showing all of your closest friends…in the most literal sense possible.  Not to mention, photo functionality is superb and you can now experience everything in HD.

Due to the longstanding anti-Flash view Apple has, this new exciting new Facebook app was developed in HTML5.  What does that mean to all of us non-tech savvy folks?  According to an article on Arctic Startup, “HTML5 allows the game play to continue across devices in a seamless fashion as users don’t need to install any specific apps. More concretely, you can play a game in the office, continue on your mobile as you walk towards the bus and take out your iPad and continue where you left off.”  Not that I am promoting gaming at work but for those of you that have a little “free time” every now and then and a passion for Facebook games, this app is for you.  Apparently having this HTML5 platform is quite revolutionary so keep an eye out for new games to come!

Of course there are always going to be things that need improvement.  After all, it is only version 1.  For us newbies, the layers can be a bit confusing.  It is difficult to navigate at first use, however once you get the hang of it, it sticks. (we all know Facebook is ever changing though, so don’t go getting too attached).  My personal biggest peeve is the inability to quickly share links and posts that you have seen on other users’ pages but in all honesty, it has been my only true complaint so far, making it an over all success in my book.

Have you tried the new Facebook iPad app yet?  What did you like or dis-like?  Would you benefit from an app that made it easier to find your next Tampa home?

Community involvement plays a huge role in Real Estate.  Not necessarily because your community is filled with potential clients but because it is great to give back.  With October not only comes fun meetings, but it is Breast Cancer Awareness Month as well.  We have several agents participating in runs, walks and golf tournaments, but today we got to see the fruits of a particularly spectacular fundraiser…a bra decorating contest!  Yes, you heard correctly.  Two of our Tampa Realtors, Laurie Garrett and Janet Mendez (pictured right) modeled bras that they recently decorated at an event to honor all of the birthdays that have passed due to breast cancer research made possible by grants, donations and fundraisers nationwide.  BRA-vo to them on their creative skills.

This Tuesday also gave us a chance to meet one of our newest staff members (whom you will be hearing from on the blog as well), our talented Relocation Director, Jane Gowarty (pictured left).  Jane has been in Real Estate for the past 19 years, starting in land development and has spent the past 10 years focused on relocation.  She will be the first point of contact for out of towners looking to call Tampa Bay home, introducing the city and learning about clients’ stories in order to match them up with a like-minded realtor.  You may have seen Jane speak at several Leading Real Estate or Relocation conventions and we are excited to stand by her side as she continues to educate others on the importance of her department.

All in all, this has been a successful Tuesday.  What are your favorite things about meeting with your colleagues and what kind of community involvement would you like to see from Smith in the future?