Mandeville Real Estate

39698 John Wild Road - Ponchatoula, LA

Over 6 Stunning Acres! Private gated brick entrance leads to beautiful home featuring stately columns, formal dining room, plantation shutters, hardwood floors, recessed lighting, crown molding, 10' & 12' ceilings throughout. Grand gourmet kitchen with island & easy close custom cabinets. Exquisite master suite with 5' wide tiled shower, double vanities, whirlpool bathtub and massive closets. Covered back patio, 30x30 Ludwig Building.

2112 Wellington - Slidell, LA

Immediate Possession...Tile and Hardwood Floors, 9ft. Ceilings, Lavish Master Suite w/ California Style Walk-in Closet, Trey Ceiling, Double Vanities, Whirlpool Tub and 4 Ft. Shower, Grand Foyer, Huge Kitchen w/ Cherry Cabinets and Granite Counter Tops, Formal Dining, Covered Back Porch, 12x10 Storage Unit, Privacy Fenced Yard, One Year Home Warranty!

The Home Affordable Foreclosure Alternative (HAFA), which helps eligible homeowners by pre-approving the short sale prior to listing their property, takes effect today, April 5, 2010.  The new guidelines set limits on a lenders response time, the lender forfeits the ability to pursue any deficiency judgment and it caps claims of subordinate lenders. 

In order to be eligible the loan must meet the following criteria: the property must be the borrower’s principle residence, the loan is a first mortgage, the loan originated before January 1, 2009, the mortgage is delinquent or default is reasonably foreseeable, the current unpaid balance is equal to or less than $729,750 and the borrower’s total monthly mortgage payment exceeds 31% of their gross income. 

Servicers/ lenders must consider Home Affordable Mortgage Program (HAMP) eligible borrowers for HAFA within 30 days once the borrower does on of the following: does not qualify for a trial period plan, does not successfully complete a trial period plan, is delinquent on HAMP modification by missing at least two consecutive payments, or the borrower requests a short sale or deed-in-lieu. 

The servicer must proactively notify the borrower in writing of the availability of a short sale and deed-in-lieu.  The borrower then has 14 days to contact the servicer with interest in these options, after which the servicer has no further obligation to extend the HAFA offer.  After this, the servicer will issue a short sale agreement (SSA) and request approval of a short sale (RASS) documents to the borrower in one of two ways: by request of the borrower (or their listing agent) or proactively by servicer/ lender.  If the borrower is not already working with a listing agent, they must find one at this point in order to proceed forward.  Within 14 days of the SSA’s effective date the borrower must sign and return the SSA with their listing agreement and information on any existing subordinate liens.  Within three business days of receiving an offer to purchase, the RASS must be submitted to the servicer/ lender.  Within 10 days of the RASS receipt, the lender must accept or deny the short sale request (RASS).  If it is accepted the listing agent will initialize the approval process and the sale of the house will proceed to a closing.  If it is denied, the servicer/ lender must send notification detailing the reasons for denial to the borrower and the borrower should consult with their listing agent for other foreclosure avoidance options.

These new guidelines will help homeowners and Realtors alike better navigate the short sale process.  Wayne Turner is continually expanding his education in the field of short sales and foreclosures.  In fact, he is among only three Realtors in the New Orleans metropolitan area to obtain the prestigious Certified Distressed Property Expert (CDPE certification).  If you know someone who is facing a foreclosure, please urge them to contact our team today. 

To view the step-by-step HAFA process, click here.

Realty Trac, an online marketplace for foreclosure information, is reporting that 109 new properties in St. Tammany have been reported as being at least 30 days delinquent on their mortgage payment, which is a 62% increase as compared to February reports.  While these numbers may seem startling, it is important to look at the whole picture of real estate in St. Tammany Parish.

Compared to February, March experienced a 277.42% increase in accepted contracts (234 in March compared to 62 in February) and a 50.43% increase in properties that sold (176 in March compared to 117 in February)!  These numbers are indicative that the market is continually growing stronger and I anticipate real estate sales in St. Tammany Parish to remain robust through the summer months. 

In addition to homes sold, our local MLS reports that as of March 31, there were a total of 2049 single family homes actively on the market in all price ranges in St. Tammany Parish.  While our MLS does not track short sales, it does show that only 109 of all active listings are either bank owned (foreclosures) or owned by a third party (this is typically a relocation company), which equals less than 1% of all homes on the market.  I perceive this as positive news because it means that individuals who are behind on their mortgage payments are finding help either by selling through a short sale, bringing their mortgage current, or by possibly renegotiating payments with their mortgage company. 

If you know someone who has experienced a hardship and could be facing a foreclosure, please urge them to contact our team.  Wayne Turner, a Certified Distressed Property Expert (CDPE) can successfully negotiate a short sale, a real alternative to foreclosure, which can have devastating negative affect to their credit rating, future employment, and security clearances.

For weekly updates on Mandeville real estate, Covington real estate, Madisonville real estate, Abita Springs real estate and Slidell real estate visit the “Home Values” section of our website. 

35688 Garden Dr. - Slidell, LA

$139,900 - $98/ sq. ft.

This cozy home features 9 & 10 foot ceilings, spacious split floor plan, a master suite with cathedral ceilings, walk in closets & a garden tub. Screened in porch, neutral colors, huge open kitchen with loads of cabinets and double paned windows throughout.

743 Avenue Louis Quatroze - Covington, LA

$282,900 - $91 per square foot!!

4 bdrm/ 2.5 bath home located in Covington's prestigious Versailles Subdivision.  Grand foyer entrance, formal living room, formal dining room, huge den/ family room plus bonus playroom.  Open eat-in kitchen, stainless steel appliances, maple countertops and tile floors.  Large master suite located on the lower level with vaulted ceilings, huge walk in closet, garden tub, separate shower and double vanities.

Visit our listings page for more details!

Greater New Orleans International Dragon Boat Festival - April 17, 2010

The Greater Madisonville Area Chamber of Commerce is set to host the first annual “Greater New Orleans International Dragon Boat Festival” on April 17, 2010 scheduled to commence on the Tchefuncte River in Madisonville, Louisiana.  Dragon boat racing is a 2500 year old Chinese sport that is rapidly becoming more popular around the world.  Each boat consists of 20 members who paddle in unison in a long and narrow boat with a dragons head fashioned at the bow. 

Entry to viewing the event on Water Street in Madisonville is free.  If you are interested in entering a team to compete… visit GWNDRAGONBOAT.COM. 

For more information about the event visit the Greater Madisonville Chamber of Commerce.

Wayne Turner Earns Prestigious Designation to Help Homeowners in Danger of Foreclosure

Mandeville, LA. 03-29-10  - Wayne Turner, Broker and Certified Residential Specialist of Keller Williams Realty Services in Mandeville has earned the prestigious Certified Distressed Property Expert^® (CDPE) designation, having completed extensive training in foreclosure avoidance, with a particular emphasis on short sales.  At a time when millions of homeowners are struggling with the possibility of foreclosure, the skills and education accumulated by Turner over his 14 years as a Realtor continue to be a huge benefit to St. Tammany area residents and communities.

Short sales allow the distressed homeowner to repay the mortgage at the price that the home sells for, even if it is lower than what is owed on the property. This process can save many people from foreclosure and even bankruptcy. If a bank forecloses on a property they place the home on the market for sale.  After the home sells, the banks have the right to redeem the difference between what was owed on the home and the actual sales price. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.

Today, more than 13 percent of homeowners are delinquent on their mortgage or in the foreclosure process. This is occurring across all price ranges, and the fastest-growing category of homes in foreclosure is the luxury home market.

“The CDPE Education has been invaluable as I work with homeowners and lenders on complicated short sales,” said Turner. “It is so rewarding to be able to help families save their homes from foreclosure.”

Alex Charfen, co-founder and CEO of the Distressed Property Institute in Austin, Texas, said that agents such as Wayne Turner with the CDPE Designation have valuable perspective on the market, and training in short sales.  Turner offers homeowners real alternatives to foreclosure, which can be devastating to credit ratings, future employment and security clearances.

“Turner better understands market conditions than the average agent, and can help home owners through the complications of foreclosure avoidance,” he said.

The Distressed Property Institute trains real estate professionals on how to help homeowners in distress, with a particular emphasis on handling short sales.

“Our goal is to help as many homeowners as possible, by educating as many real estate professionals as possible,” Charfen said. “Wayne Turner has demonstrated a commitment to home owner’s challenges in this market, and will provide much-needed assistance in stabilizing the community.”

17638 Avalon Terrace - Hammond, LA

$1000 Down...Buys You this Home, Huge Open Den, Open Kitchen With Raised Bar Seating, Formal Dining Room, Neutral Colors, 16x12 Storage Building, Maintenance Free Exterior, Raised Bath Vanities, 2 in. Blinds, Walk-in Closets, Tile & Hardwood Flooring, Super Clean!

16488 M.P. Planche Road - Covington, LA

Only $500 Down...Brazilian Cherry Floors, Huge Private Backyard, Big Open Kitchen with Raised Bar, Crown Molding, 9Ft. Ceilings, 2 in. Blinds, Trey Ceilings, Master Suite with Whirlpool Tub & Dual Closets, Split Floor Plan, Cozy Wood Burning Fireplace, Neat & Clean, One Year Home Warranty!