Dec 5, 2010 | FORECLOSURES/SHORT SALES, MIAMI MARKET CONDITIONS
Zillow reports that 47.4% of all homes sold in September were distressed sales. The breakdown from Zillow shows that 27.3% were short sales and another 20.1% were foreclosures. Unfortunately, because appraisers use all available recent sales (distressed and...
Dec 4, 2010 | FORECLOSURES/SHORT SALES, MIAMI REAL ESTATE
Foreclosure? … Time Frame for Foreclosure? A foreclosure is when the lender (lien holder) assumes ownership rights when a property owner defaults on his/her mortgage payments…It’s the process through which the lender repossesses real estate...
Nov 29, 2010 | FORECLOSURES/SHORT SALES, MIAMI REAL ESTATE
What is Loan Modification? It’s an inexpensive way to stay away from foreclosure (no appraisal fees, surveys…). Loan modification differs from refinancing (which requires you to have equity). With loan modification you negotiate new terms for your...
Nov 26, 2010 | FORECLOSURES/SHORT SALES, MIAMI REAL ESTATE
Here’s a question we were just asked: “A deed in lieu of foreclosure means what?” It means that “The homeowner agrees to relinquish the property voluntarily to the lender by transferring the deed to the property… and in exchange, the...
Nov 22, 2010 | FORECLOSURES/SHORT SALES, GOOD DEALS & WHAT'S SELLING, REAL ESTATE NEWS
In the last 6 months, there have been 81 sales of Single Family Homes in Pinecrest. Of those, 10 were Short Sales, 2 were Foreclosures and 69 were regular sales. Those figures seemingly clash with the figures that Dade County has for Foreclosure and Short Sales, with...
Nov 20, 2010 | FORECLOSURES/SHORT SALES, MIAMI REAL ESTATE
November 2010: Miami is in the midst of a freeze on foreclosures. The reason? A number of lending institutions (Bank of America, GMAC, JP Morgan Chase and others) along with several powerful legal firms who were handling foreclosures on their behalf (David J....
