Generous Property's Joyce & Troy Sacco with Marla Doss, Interim President & CEO of Community Haven along with Preschoolers Antonella, Bella and Sierra

Community Haven for Adults and Children with Disabilities, Receives A Contribution Towards Their Selby Preschool Renovations From Local Realtors At Generous Property

Sarasota, FL – May 2012 – Community Haven for Adults and Children with Disabilities recently began renovation to their Selby Preschool.  The goal is to make the necessary improvements in order to be able to serve more children with special needs in the community.  Realtors Troy & Joyce Sacco of Generous Property provided a contribution towards the renovations from the proceeds of a recent transaction in the name of their clients.

“The Selby Preschool responds to an important community need to invest in children with disabilities and special needs early in life and their families.” said Marla Doss Interim President & CEO of Community Haven.  “Community Haven is very appreciative of the partners we have in our community.  The folks at Generous Property have been wonderful and we always enjoy their visit.” Ms. Doss added.

“The Preschool specializes its learning environment for infants and children, birth thru five, who have disabilities and special needs.”  Said Joyce Sacco.  “As a former special-education teacher, I truly can appreciate the services that Community Haven and their wonderful staff provides. Thanks to our clients we are able to assist Community Haven in expanding the program.”

If you would like make a donation or find out how to help out Community Haven please visit them on their web site at www.CommunityHaven.com.    If you are in the market to buy or sell Sarasota area real estate and would like to “Make Your Property a Generous Property”, visit www.GenerousProperty.com.

A “Must See” Video – “A” Your Adorable

Investment or Winter Retreat

Attention Investors! – Two bedroom one bath property in a great location.  Close to North Port library, Post Office, churches, banks, restaurants and much more.  House has public utilities and a great lot.  Fully furnished and ready for a new owner.  The carport features additional storage or convert it to your workshop.  There is also a utility room inside the house that has plenty of room for additional storage.  Buy it for yourself and have an affordable winter residence or rent it out and realize a great positive cash flow.

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left to right: Joyce Sacco of Generous Property, "Gift" and Donna Blem of InStride Equine Therapy

Nokomis, FL – Recently, Joyce & Troy Sacco of Generous Property represented a client who purchased a condominium in Downtown Sarasota in the Marina Tower building. As a result of that real estate transaction, a portion of their proceeds will be donated to several local charitable organizations. The first of the donations was recently presented to InStride Equine Therapy.

Located in Nokomis, InStride assists clients with disabilities through hippotherapy. “It is derived from the Greek word “hippos” which means horse. Specially trained physical, occupational and speech therapists use this medical treatment for clients who have movement dysfunction.” said Mike Bigner of InStride. Mr. Bigner went on to say, “By partnering with horses, we challenge individuals with special needs to reach their fullest potential.”

Donna Blem, the Executive Director at InStride added, “Children and adults with various diagnoses such as cerebral palsy. Down’s syndrome, developmental delay and many others benefit from InStride programs.” As opposed to therapeutic riding, specific riding skills are not taught at InStride. Hippotherapy lays a foundation to improve mobility, function and sensory processing. Realtor Joyce Sacco said, “We at Generous Property know that donations like this can make a real difference in the lives of people with disabilities and encourage others to support InStride Equine Therapy and their special riders and volunteers.”

If you would like to help out InStride Equine Therapy please visit their web site at www.InStrideTherapy.org and find a way to make a difference in the lives of one of their clients. If you would like to find out how to “Make Your Property a Generous Property”, contact us today!

Short Sale – Great Value!

Rarely is a property that includes so many updates available in Calusa Lakes at this price.  This three bedroom two bath home features beautiful solid pecan wood flooring throughout the main living areas, exquisite wood cabinetry in the kitchen, bathrooms as well as the built-in cabinetry in the third bedroom/office. The kitchen is equipped with stainless steel appliance and granite counter tops.    This home has been meticulously maintained and is in “move-in” condition.  Pass through the three panel pocket sliders to bask in the serenity of your private back yard while you relax in the heated spa.   Recently re-plumbed with a warranty that is transferable to the new owners.  Calusa Lakes is a beautiful gated, golf course community close to Sarasota County’s magnificent beaches and world-class shopping.  Don’t miss out.  Schedule a viewing today!

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So, in the interest of all of you folks out there that are in the middle of the long wait for approval, both as buyers and sellers.  I am going to attempt to explain in layman’s terms, the processes of a short sale as I have experienced over these past years.  I don’t promise this will make your personal experience any more enjoyable, but perhaps a little less stressful.  Here we go!

First, for those of you who are not familiar with what a short sale is I will try to explain in the simplest terms.  Basically, the owner of a property owes more to the bank than its current market value.  In order to be able to sell the property, the owner must ask the bank to accept less than what is owed on the property as payment and release their lien against the home.  If there is a second mortgage or equity line, the seller will have to contact all lien holders to accept less than owed.   Most short sales are initiated these days on line through a web site call Equator.com.

First Steps In A Short Sale

Once the seller has decided they need to do a short sale, the seller should contact a professional Realtor who has extensive experience closing short sales.  The Realtor should have also invested in the education and professional certifications  such as SFR, ( Short Sales & Foreclosure Resource) and CDPE, (Certified Distressed Property Expert).  FYI, I have completed both courses.

After the seller chooses a Realtor to handle the short sale, they will fill out a third-party authorization form.  This form will give the Realtor the authorization to open a file on the equator web site and communicate with the bank(s) with regard to your loan.  Click here for an example.

Your Realtor will then collect from you the following financial information that will be submitted to the bank for review via equator:

•  Two months most recent mortgage statements (all mortgages)
•  Two months checking account statements (all borrowers if separate)
•  Two months savings account statements (all borrowers if separate)
•  Two months other account statements (all borrowers if separate)
•  Last two paycheck stubs (all borrowers)
•  Two years tax returns
• IRS Form 4506 Request for Copy of Tax Return
• Hardship Letter
• Financial worksheet

Once everything is received, the mortgage servicer will review and see if the seller qualifies for any of several federal assistance programs that may be available.  In the meantime, the Realtor is marketing the property in order to receive an offer.  Please be sure that you work with your Realtor to price the property realistically.

All of the above should have been accomplished prior to an offer in order to shorten the wait time for the buyer.  One of the biggest problem in trying to execute a short sale is the losing the buyers due to the lengthy waiting period.  Some additional issues to look out for would be a second mortgage, home equity line, mechanics lien, IRS lien or an outstanding judgement.  it is important to be sure the title has been researched thoroughly prior to initiating the short sale.

Once The Short Sale Offer Is Submitted

After the Realtor has uploaded the offer onto equator, he will also need to upload a preliminary HUD-1.  The short sale file then enters the valuation period.

Valuation Period

At this point the negotiator assigned to the file will order a BPO, ( Broker Price Opinion) and an appraisal.  This usually take at least one week to  be completed and uploaded to equator.  These values  will be the basis used  by the negotiator to either accept or counter the offer.

Offer Review Period

Once the values are received, the negotiator will review the offer as it compares to the valuations received.  They will use guidelines established by the bank servicing the loan to determine whether or not to accept the offer.  

Once the offer is accepted, the negotiator still has to present the offer to “the investor”, (usually Freddie Mac or Fannie Mae) for final approval.  This is where the confusion and frustration can some times begin.

 One would assume that when the bank’s representative accepts the offer, you are ready to close.  However, when the offer is presented to “the investor”, they review they offer using their own guidelines and there are times when the negotiator comes back to the buyer with yet another counter-offer.

The important thing here is to be prepared for these scenarios to pop-up when entering into an agreement on a short sale property.  There is no guaranteed that the process will go smoothly and new situations not addressed here will surely  come up.

Closing The Short Sale

Once you finally receive the written approval letter from the bank, the time periods for inspections, financing, escrow and any other addendum that are part of the executed contract usually begin.  From this point forward the closing process goes along just as a regular sale would.  However, be sure to keep communications open between all parties.

The approval letter usually has a deadline that must be met.  If either party feels they may not be able to meet the deadline, be sure to notify the bank granting the short sale ASAP.  They usually will grant an extension to the closing deadline.

The bottom line is, be patient and prepared.  Knowledge is power and being familiar with the process can make it less stressful!

left to right:Troy Sacco - Generous Property, Barbara Thompson - Riddell Law Group, Joyce Scott - Our Mother's House, Real Estate Investor Jerry Dunn

Venice, FL – April 2012 — Recently Jerry Dunn a local real estate investor sold a couple of his properties with the assistance of Barbara Thompson of Riddell Law Group and Troy Sacco of Generous Property.  As a result of the transactions, both businesses were able to present a donation from their proceeds to Joyce Scott, the Program Director of Our Mother’s House.  Barbara Thompson said, “Riddell Law Group has always been a supporter of the local community.  The services that are provided to local single mothers by the staff at Our Mother’s House are vital.”

“Our Mother’s House provides single mothers and their pre-school children a safe and secure environment in which to achieve self-sufficiency through education, vocational training and personal growth. “said Joyce Scott.   “We received the inaugural donation from Generous Property and are happy to accept their continued support.” added Scott.

“I have been working with Troy Sacco for several years now and have purchased and sold properties with him in the past at his old brokerage.  When he told me about the business concept of his new firm I wanted to support the effort.” said Jerry Dunn “I am glad we are able to work together again and also help Joyce and Our Mother’s House. “ Dunn added.

If you would like to help out Our Mother’s House please visit www.OurMothersHousedov.org and see how you can make a difference in one of our neighbors lives.  To Make Your Property a Generous Property, visit them on the web at www.GenerousProperty.com.

Learn More About Our Mother’s House

from left to right: Atty. John Dunham, Dianne Jackson, Joyce & Troy Sacco, Atty. Jonathan Whitney, Angie Stringer, Sarah Whertheimer and the children of the Purple Crayon class.

Thanks to The Giving Partner’s 36 Hour Challenge.  You can make your donation go farther.  Please find it in your heart to donate to one of our favorite non-profit organizations, Children First.

Click on The logo below to make a donation today!

The Giving Partner supports many of Sarasota County’s non-profit organizations and gives to the community year round.  Be sure to search the web site for organizations that are of interest to you and give to them as well from March 27 -28.

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Wendy Fitton, Network Manage of Family Promise of Sarasota pictured in the Promise House

Sarasota, FL – March 2012 – Philanthropy in Sarasota County comes in different shapes and sizes.  Recently Family Promise of Sarasota posted a need on their Facebook page.  They had recently received six new bunk beds for their “Promise House” a home where volunteers host the local homeless families in need .  “We’re asking for used sheets in good condition, new sheets or monetary donations/gift cards to purchase sheets.” said Wendy Fitton, Network Manager for Family Promise of Sarasota.

“Many people feel that unless they make a monetary donation, they can’t do something else to make a difference.  People find it difficult to make time to volunteer and don’t think to donate perhaps some household item such as a coffee maker, blender or toaster that is sitting in their cupboard or a lamp and an end table that is sitting their garage.” added Troy Sacco of Generous Property.

Fitton went on to say, “We are always grateful to accept help from our business community and donations like those we are receiving from Generous Property and Lutz, Bobo, Telfair, Dunham & Gabel.  The money will go toward the items we need for our “Promise House”.  Every donation of any kind is always helpful.  When we graduate a family from “Promise House” there is always a need for household items for them to get off to a good start.”

If you would like make a donation or find out how to help out Family Promise of Sarasota, please visit them on their web site at www.FamilyPromiseSarasota.org and help to make a difference in one of our neighbor’s lives.  Visit Lutz, Bob, Telfair Dunham and Gabel at www.JRDLaw.com for your legal needs and to “Make Your Property a Generous Property”, visit www.GenerousProperty.com.

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From left to right: Jillian Sacco, Cindy Eaton,(Program Director of InStride), Elicia Sacco and Mac Sacco

This past weekend Joyce and I brought our family up over to InStride on Ranch Road in Nokomis.  InStride is a unique non-profit organization that many of you may not have heard about but they are doing great things in our local community for individuals with specials needs through ”Equine Assisted Therapy”.  You might be asking, “What is Equine Assisted Therapy?”  Well, you’re not alone.  When we told our children where we were going and what they did, they asked the same question.  The problem was, we couldn’t answer the question either!

When we arrived we met Cindy Eaton, Program Director for InStride.  She gave us a tour of the facilities and some background in what Equine Assisted Therapy is.  The term she used Hippotherapy which literally means treatment with the help of the horse.  It originated from the Greek word “hippo,”  meaning horse.  In a nutshell, the ”gate” of a horse closely mimics that of a human.  This helps the patient build up core strength.

We were lucky enough to watch a child during her therapy and the smile that was brought to her face was worth a million dollars!  As we observed the work of the volunteers and therapists at InStride, we were touched by the joy that the gestures of others in giving of themselves gave to us.  The grumpy, sleepy look on our children’s  faces were replaced by big smiles!  We all realized that the opportunity to help others is truly an opportunity to give and receive happiness!

If you’d like to experience the joy of helping others and would like to participate in helping InStride continue the great work they do, please check out the following:

Donate to InStride Equine Therapy

Volunteer at InStride Equine Therapy

InStride Equine Therapy Wish List

The InStride Therapy Story

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Irene Lynch, Principal of Epiphany Cathedral School and Realtor Joyce Sacco of Generous Property. (Missing is Barbara Thompson of Riddell Law Group).

The Journey of 1,000 Miles Begins With One Step!  - With the recent downturn in the economy, Epiphany Cathedral School’s Principal, Irene Lynch decided to collaborate with the family owned businesses at her school and begin a networking group over a year ago.  ”Our goal was to assist the families who send their children to the school by making sure that people from the school and the parish were doing business with each other. ” said Principal Lynch.  What has evolved from the initial networking breakfast is the school’s new gym fund.  Each member of the networking group pledged to donate a  portion of their profits towards a fund to help the school build a new gym.

Lynch added, “A new gym would go a long way to improving our sports program as well as add to the quality education that children receive here at Epiphany Cathedral School.  The building planned would also have a second floor of classroom space to increase our music and arts curriculum.  The facility will attract new families that would benefit from our Blue Ribbon School of Excellence.”  Joyce Sacco, a Realtor with Generous Property as well as a parent whose child attends Epiphany said, “As a parent, I cannot express how happy we are with the education my son receives here.  The school has been a blessing to him as well as my two daughters who graduated from Epiphany.”

The networking group has also recently established an online directory, www.CatholicBusinessLink.com.  Business owners receive a free listing on the site, in return all that is asked is that they pledge a portion of their profits of any transactions from the site to the school’s gym fund.   Joyce went on to say “This has been a great way for Generous Property to generate business to support our family and  give back!  It also enables our clients to participate by using our services as well as the other businesses in our network.  For instance, Riddell Law Group who performed the closing on our latest transaction also made a contribution to the fund as a result of our association.”

If you would like to make a donation to the gym fund, please contact Epiphany Cathedral School at 941-488-2215 or use one of the businesses at www.CatholicBusinessLink.com and they will donate a portion of their profits in your name to the fund.  It’s a great way to give back and get a needed service.