As I'm getting ready to exit my car I reach out for my camera to take pictures of one of myForeclosurehome. It is the primarily reason why I went. As I'm exiting the car I glance at the big window this foreclosure home has. The window is a 5ft by 8ft window right next to the entry door. The window allows you to look thru the living room, beyond the kitchen and thru the french doors towards the pool. As I look thru the window I notice a human shadow as if someone was hiding. I quickly began to assess the situation and began to think of who was there and why. As I'm thinking I begin to walk and decide to go around the house as I get closer to the back area of the home just I suspected there was someone there. As he saw me he look freighted he looked as if he saw a ghost, turning pale white I thought maybe to ease the pressure I said relax I am not a police officer I'm just here to take pictures. As I continue walking and now entering the home I notice 3 more Students there was 3 girls and two boys. The students belong to a near high school and where cutting class. Since they weren't using drugs or vandalizing the home I decided to leave them alone and take the pictures and leave. I quickly took the interior pictures and lefted the home. As I'm driving back to my office my good voice speaks some call it their consciences. It said maybe I should've notified the school. What if something happens to them while cutting school. Don't their parents deserve to know where the kids are? My other voice said they look like good kids meaning no harm leave them alone you were young once. As the two voices in my head began to speak to each other they both had strong points.
As I'm writing this I am not sure if I did the right thing or not. So I seek higher knowledge from my fellow active rainers.
What would you do?
Ready to buy a Miami foreclosure Home? Contact Global Market Realty today. We have several Miami Foreclosures for sale in , Search the MLS for foreclosures in Miami . Do you want more information on a second home or a vacation home please contact us at 305 364 0037
Foreclosure homes and short sales are dominating our Real Estate Market.
If you are a buyer in today's Real Estate market you will notice Short sales and foreclosures homes are dominating the Real estate market. 1 out of 15 homes are either foreclosures or short sales. Short sales have changed the way we present and sale homes today. In a traditional Real estate Sale Home owners would hire a Real Estate agent to sale their home. The agent would enter into fiduciary relationship acting in his best interest.
In today's Real Estate market this still holds true but now a real estate agent and homeowner must receive the final approval from the lender.. The bank can either say nay or yea. In most cases when short sales take form and serious negotiations take place most loss mitigators often ask critical questions such as.
1. Is this the highest and best offer
2. How long has the home been In the market
3. Can you cut commissions and expenses
Most banks one way or another want the answers to these questions. Remember we are representing the seller not the bank.
My answers would be....
1. Yes this is the highest and only offer that I will present to you any more offers that I receive it will not be presented because it means more work.
2. The home has been in the market long enough to have just one single offer.
3. Can I cut commissions of course I can in fact do not pay my commission up front. What we can do is you can give me a promissory note to pay all commission with interest at a rate of 20% for a term of 12 months.
Short sales take time and demand a lot of patience. Many times the answers to these questions can be the outcome between closing or not.
If you are a investor or a first time Ii homebuyer be advice that short sales can take at least 45 days. And more often than not it demands an experience Real Estate agent with good negotiating skills. Oh by the way most loss mitigators laugh after my commission proposal hey at least I get them to laugh before real negotiations take place. Humor is a great way to break the ice.
Ready to buy a Miami foreclosure Home? Contact Global Market Realty today. We have several Miami Foreclosures for sale in , Search the MLS for foreclosures in Miami . Do you want more information on a second home or a vacation home please contact us at 305 364 0037
It was early 2005 when I began hearing a big buzz about another development in Miami. The new building was to be called Altos de Miami. This building was projected to help transform little Havana. Its architecture and building amenities was nothing like it in the area. The building offered state of the art amenities pool, club house, gym and a lobby that represent lifestyle and luxury. In early 2007 the building quickly began to gain popularity and units began to sale. But as they say time is of the essence and timing is the next best thing. The building was completed at the end of the peak of the condo boom. Many investors and repeat buyers had already bought at other developments that were finished before Altos de Miami. The Condo market slowly began to shift as the condo market was saturated with inventory. The end of the overpriced real estate market was near. Foreclosures slowly began to rise and the subprime loans weren't selling in the secondary market. The dawn of a new real estate market began to unfold. Little did we know that the new real estate market was going to affect the whole world. The collapse of the mortgage industry lead to many of our major lenders downfall and wrote American history once again. The future of the condo market is different than what the developers of Altos de Miami expected to be.
An Article on Altos De Miami.
"A foreclosure sale has been scheduled for Feb. 13 to auction off 56 units in the Altos de Miami condominium in Miami's Little Havana neighborhood.
New York-based Lehman Brothers Holdings was awarded $12.5 million and Glen Royal Parkway Acquisition - which acquired a mortgage from New York-based iStar FM Loans - was awarded $6.5 million in the Nov. 13 judgment in Miami-Dade County Circuit Court."
We know today not only were investors and first time home buyers affected but major developers and development as well.
Ready to buy a Miami foreclosure Home? Contact Global Market Realty today. We have several Miami Foreclosures for sale in , Search the MLS for foreclosures in Miami . Do you want more information on a second home or a vacation home please contact us at 305 364 0037
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Real Estate Market Reports for Doral, Hialeah, Hialeah Gardens, Miami Springs, Miami Lakes, Miami Shores.
The sole purpose of the Miami Real Estate Market report is to provide you the buyer or seller information of the area of your interest. With information of highest price listings, lowest priced listing, Days on market and closed sale can assist you with making the right decisions. Statistics shows us that the best inform seller or buyer make the best decision.
There are currently 319 single family homes in Doral.
Highest Price listing is 1,650,000 ( 9415 NW 54 Ln) Luxury home
Lowest Priced Listing is 205,000 ( 8161 NW 107 ct)
Pending Sales 29 Homes Highest Priced Listing 1,480,000
Closed Sales in 2008 117 homes ( 9 sales within 30 days)
In the last 30 days the highest sale has been for 820,000 for home located in 11285 Nw 66 st.
In early 2000 Doral became a high demanded area for business owners and Residents to live in. Prices have slightly drop in the condos and townhouse sector because of over development.
Condos and townhouses In Doral
There are currently 891 condos and townhouses in Doral.
Highest Priced Listing is 610,000 ( 11374 NW 83 Wy)
There are currently 531 single family homes in Hialeah
Highest Price listing is 630,000 ( 7635 W 8 ave)
Lowest Priced listing is 89,900 ( 614 Se 3 st)
Pending Sales 120 homes highest priced listing is 540,000
Closed Sales in 2008 194 homes ( 14 sales within 30 days)
In the last 30 days the highest sale has been for 274,900 for a home located in 7095 W 12 Ln. The lowest sold home was a foreclosure and it sold for 135,000 for a home located in 750 Se 4 PL.
There are currently 748 condos and townhouse in Hialeah.
Highest Price listing is 330,000 ( 8073 W 36 ave)
Lowest Priced listing is 45,000 ( 666 W 81 st # 325)
Pending Sales 66 condos highest priced listing is 245,000
Closed sales in 2008 129 condos & townhouse ( 13 sales within 30 days)
In the last 30 days the highest sale has been for 165,000 for a townhouse located in 7341 w 16 ave. The lowest sold condo was a foreclosure it sold for 53,000 it is located in 1230 w 54 st # 313 A.
There are currently 105 homes for sale in Miami Springs
Highest Price Listing is 789,000 ( 1016 Bass Point Rd) Luxury home
Lowest Price Listing is 130,000 ( 4975 Nw 15 ct)
Pending Sales 12 highest priced home is 489,000
Closed Sales in 2008 61 ( 4 sales within 30 days)
In the last 30 days the highest sale has been for 349,000 for a home located in 231 lenape Dr. The lowest sold home was a foreclosure and it sold for 185,000 it is located in 133 Nahkoda Dr.
There are currently 143 homes for sale in Miami Lakes
Highest Price Listing is 2,199,000 ( 7015 Gleneagle Dr) Luxury Home
Lowest Price Listing is 230,000 ( 6332 Gage Pl)
Pending Sales 30 highest priced home is 1,900,000
Closed Sales in 2008 82 ( 5 sales within 30 days)
In the last 30 days the highest sale has been for 499,000 for home located in 7942 Nw 158 te. The lowest sold home was a foreclosure and it sold for 260,000 it is located in 8822 Nw 151 st.
There are currently 117 condos & townhouse in Miami Lakes
Highest Price Listing is 525,000 ( 8221 Dundee Terr #8221)
Lowest Price Listing is 69,900 ( 13900 Lake Placid Ct #C26) Foreclosure
Pending Sale 10 highest Priced 220,000
Closed Sales in 2008 53 ( 3 sales within 30 days)
In the last 30 days the highest sale was for 305,000 for a townhouse located in 8396 NW 143 ter. The lowest sold home was for 196,300 for a townhouse located in 8402 Nw 141 te # 4001.
There are currently 180 homes for sale in Miami Shores
Highest Price Listing is 3,500,000 ( 1680 Ne 104 st) Luxury Home
Lowest Price listing is 139,900 ( 9338 nw 2 ave)
Pending Listing is 15 highest Priced 699,000
Closed Sales in 2008 97 ( 12 sales within 30 days)
In the last 30 days the highest sale was for 490,000 for a home located in 240 NE 99 st. The lowest sold home was for 116,000 for a home located in 154 nw 111 st.
This Market Report included 6 municipalities that belong to Miami Dade county. As you can see some neighborhoods are more volatile than others.
Do you want a Market Report for your neighborhood? Contact Global Market Realty today. We provide valuable information to inform all of our buyers and sellers. Search the MLS for foreclosures and Luxury homes in Miami . Do you want more information on a second home or a vacation home please contact us at 305 364 0037
If you are a buyer in today's Real Estate market you will notice Short sales and foreclosures homes are dominating the Real estate market. 1 out of 15 homes are either foreclosures or short sales. Short sales have changed the way we present and sale homes today. In a traditional Real estate Sale Home owners would hire a Real Estate agent to sale their home. The agent would enter into fiduciary relationship acting in his best interest.
In today's Real Estate market this still holds true but now a real estate agent and homeowner needs to receive the final approval from the lender.. The bank can either say nay or yea. In most cases when short sales take form and serious negotiations take place most loss mitigators often ask critical questions such as.
1. Is this the highest and best offer
2. How long has the home been In the market
3. Can you cut commissions and expenses
Most banks one way or another want the answers to these questions. Remember we are representing the seller not the bank.
My answers would be....
1. Yes this is the highest and only offer that I will present to you any more offers that I receive it will not be presented because it means more work.
2. The home has been in the market long enough to have just one single offer.
3. Can I cut commissions of course I can in fact do not pay my commission up front. What we can do is you can give me a promissory note to pay all commission with interest at a rate of 20% for a term of 12 months.
Short sales take time and demand a lot of patience. Many times the answers to these questions can be the outcome between closing or not.
If you are a potential real estate buyer be advice that short sales can take at least 45 days. And more often than not it demands an experience Real Estate agent with good negotiating skills. Oh by the way most loss mitigator laugh after my commission proposal hey at least I get them to laugh before real negotiations take place. Humor is a great way to break the ice.
Ready to buy a Miami foreclosure Home? Contact Global Market Realty today. We have several Miami Foreclosures for sale in , Search the MLS for foreclosures in Miami . Do you want more information on a second home or a vacation home please contact us at 305 364 0037
Real Estate Market Reports for Pinecrest, Coral Gables, Palmetto Bay.
This is the Miami Real Estate Market Report for the last quarter of the Year. I would agree 2008 was a year of many challenges Indy Mac, countrywide, Lehman Brothers all filed for bankruptcies ,the price of gas nearly went up to 4.00 dollars and unemployment rate rose. We also witness Miami Foreclosures increasing at a rate of nearly 50 % experts say 2009 will be another year of foreclosures. But as it was a challenging year for many others like Real Estate investors and first time home buyers began to purchase Miami Real Estate and luxury homes. New Luxury homes that were built early in 2006 were also affected due to the Real Estate Market. But prominent areas such as Pinecrest, Coral Gables and Palmetto Bay have been impacted due to the Real Estate Market but experts say the Prices are going to stabilizing late next year.
Every month my Real Estate Monthly Report is being published in the web. IF you would like to know about another area or neighborhood I didn't cover please email me.
1. Highest priced listing is 6,999,000 ( located at 6500 SW 98 street)
2. Lowest Priced listing is 259,000 ( Foreclosure located at 7820 sw 110st)
3. Pending Sales 32 homes Highest 3,350,000 lowest 317,900
4. Closed Sales in 2008 132 ( 6 sales in the past month)
In the last 30 days the highest sale has been for 2,775,000 for the property located at 11800 sw 69 ave that was originally listed for 3,845,000. The average sale price in Pinecrest is 1,035,000.
Pinecrest still remains a sought out and highly demanded area for many investors and Home buyers.
Coral Gables Real Estate Market Report.
There are currently 570 single family home listings in Coral Gables Florida:
1. Highest priced listing is for 24,500,000 ( 620 Arvida PW ) the property is still under construction but it is breathtaking with many details.
2. Lowest Priced listing is listed for 84,500 it is a tear down home.
3. Pending Sales ( 61)
4. Closed Sales (316 homes have closed in 2008) ( 15 homes have closed this month)
The highest priced listed that sold this month was 105 Paloma Dr the home was listed for 5,795,000 and it closed at 4,893,000
There currently 275 single family home listings in Palmetto Bay Florida
1. The highest priced home is for 2,600,000 ( 14201 Old cutler Rd)
2. Lowest Priced home is for 74,290 ( 16915 sw 93 ave)
3. Pending Sale (26)
4. Closed Sales ( 180 homes closed in 2008 ) ( 30 homes closed in Nov. 2008 with the highest price sale at 490,000 it was listed at 545,000)
Ready to buy a Miami Luxury Home ? Contact Global Market Realty today. We have several Miami Luxury Homes for sale in , Search the MLS for foreclosures in Pinecrest, Coral Gables, Palmetto Bay . Do you want more information on a second home or a vacation home In Miami please contact us at 305 364 0037
Christmas too many is a time of giving and receive a time for remembrance and a time of reflection. As Christmas approaches many decorate their homes with lights and of course the famous Christmas trees. Children enjoy their small vacation while anticipating their Christmas gifts. This year I encourage you to drive south on 67 ave until you reach 120 st you can't miss it you'll notice the line of cars and walking pedestrians. The block is lit up by one single house and as you approach the lights gets brighter, and the crowd gets larger. The home is located in a neighborhood of or municipality called Village of Pinecrest. Pincecrest is well known for its Residents and luxurious homes. The average Luxury home price in Pinecrest is 2,500,000 after all Pinecrest luxury homes are owed by Doctors, Attorney, Business owners and our very own Dwayne Wade. But the view is not of a two story elegant mansion or the view of a Contemporary 7 bedroom home. It is the view of an amazing Christmas display and thousand of lights. The display features over 100 animated characters, 700,000 light bulbs, 2,000 amps of electricity, and a huge monthly light bill of 4,500 dollars. The display characters include Santa Claus, electric train, 3 kings, goats, and even baby Jesus. It almost resembles Santa enchanted forest without the entrance fee of course. Early preparation begins in June and it demands the presence of 20 volunteers that include family and friends. The display is open on weekdays and weekends on weekdays it start at 6-11pm and on weeknights 6-12pm with January 1 being the last day.
For 5 decades the clot family has shared with their neighbors and bystanders a magnificent gift, the gift of remembrance and the gift of the Christmas spirit that we sometimes misplace and forget. Christmas is not about running to buy gifts and it's not just a time for holiday parties and extra bonuses it is a time to give even when it's free. The clot family takes this opportunity to collect for the women's cancer association the University of Miami conducts the comprehensive research. Over the Past Fifteen Years, visitors have donated over 450,000 a direct contribution to support the study of a disease that kills millions every year. The Clot family makes a difference every year and so can you.
Ready to buy a Miami Luxury Home ? Contact Global Market Realty today. We have several Miami Luxury Homes for sale in , Search the MLS for foreclosures in Pinecrest . Do you want more information on a second home or a vacation home In Pinecrest please contact us at 305 364 0037
Looking for a home in The village of Pinecrest ? You will find everything you want and need In the city of Pinecrest. Pinecrest is also know for its strict law enforement.
Can your debt be forgiving can your Miami Foreclosure be over looked.
Two days ago I was browsing the internet searching for Miami Foreclosure as I came across a blog title" Why lenders might forgive your debt" I didn't think much of it until I began to think of the amount of panicking homeowners that are in the verge of Foreclosure or First time home buyers that are seeking FHA financing. I also began to think about the countless amounts of credit conscious borrowers who borrowed a little too much and now worry about their Credit score. For them I write this article and highlight many of the Points Liz Weston mention in her brilliant article "Why lenders might forgive your Debt."
"Lenders often found it easier and cheaper to write off delinquent accounts as bad debt than work with you on a repayment plan. After all, they could get a tax break on the loss and then get on with the profitable business of extending credit to the next guy".
This is her second paragraph in which I found really important to highlight. Do you ever get treating calls from collection companies trying to collect the full amount of debt that you once old to a creditor. Well the fact is the Lender or the creditor that you once owe write off almost all delinquent accounts after a certain of time. The account or debt is sold to a collection company. The collection company bought this paper debt for cents on the dollar hoping you will pay the full amount. For example if you owed Sears 1,000 and Sears couldn't collect they write the debt off and sale the Debt to ABC Collection Company who bought the debt for 45 dollars. Welcome to the world of collection companies. The fact is most collection companies can negotiate your debt 80 percent of the time. IF you are a first time homebuyer that is seeking an FHA loan FHA will require paying all collection accounts before closing remember they can be negotiated.
"The most sweeping new program was announced Nov. 11. Freddie Mac and Fannie Mae, the government agencies that guarantee 31 million U.S. mortgages, will begin paying the mortgage service companies that maintain the loans $800 for every loan they modify. Borrowers would get help in several ways: Interest rates would be reduced so that borrowers would not pay more than 38% of their gross income on housing expenses. Another option is for loans to be extended from 30 years to 40 years, and for some of the principal amount to be deferred interest-free."
IF you are a homeowner facing foreclosure who only needs their mortgage payment adjusted a couple of dollars this can be your hope. The lenders are providing incentives to servicing companies to help much more, to go the extra mile. The servicing companies can adjust your interest rate from 7.6% to a 6.5 % they can also adjust your term from 30 years to 40 years they are doing everything and anything to keep your home from foreclosure.
The Fact is we are seeing more walk than talk from congress and the lenders. IF you are a homeowner who is in risk of Foreclosure call your lender and submit your financial statements. You might be eligible for a loan modification.
Ready to buy a Miami foreclosure Home? Contact Global Market Realty today. We have several Miami Foreclosures for sale in , Search the MLS for foreclosures in Miami . Do you want more information on a second home or a vacation home please contact us at 305 364 0037
Five years ago when I began my career in Real Estate I wasn't the best public speaker in fact I was terrified of the microphone or even the thought of having the center stage or attention. Speaking to an audience felt as if somebody would grab my inner stomach and squeeze every breath I had left. It was in that desperate time when I knew I had to do something about it. I had to re gain control of my Fear of public speaking. A new born adventure began,it started in a club that called themselves toastmasters. At first I thought it was an A.A club or better yet the Alcoholics Anonymous group. But toastmaster members were polite and friendly and eager to help I quickly adapted and made myself at home. The toastmaster meetings were well structured and organized with speeches, table topics and evaluations. The Meeting was perfect after all there are members of all walks of life some are experts and others beginers but all share a common goal to Develop good speaking skills. Toastmasters are for individuals that want to improve in their communication skills, public speaking skills and network skills. Please click on this link to go to the toastmasters internaitonal page.
3 day conference
This week it was the 47 district fall conference that consisted of the humorous speech contest and small workshops. There were 9 great contestants that competed for the 47 district most humorous speech. The crowd cheered and laughed as each contestant entertained and delivered funny punch lines and memorable stories. Each contestant had a story to tale Janice contestant 4 spoke about her personal story of her mother not accepting reality. Jason contestant 5 spoke about having a true companion and my personal favorite and winner Sandy spoke about how shopping for steak can lead to a divorce. This weekend was a weekend to remember for anybody that wants to improve their public speaking either for a best man speech or for a career change toastmasters is a great way to start.
4 Facts you should know about the FHA 203k before you buy your first Miami Foreclosure.
Foreclosures are taking over our current real estate market nationwide. And most of these Miami foreclosures are not the Taj Mahal or the Caesar palace 65 percent of all current Miami foreclosures are in need of some type of repairs. The FHA (Federal Housing Administration) 203 K program is a primary program for the rehabilitation and repair of single family properties. Please note FHA does not lend money they insure the loans for the financial institutions that are approved such as Banks. If you are buying a Miami foreclosure for the very first type or applying for an FHA loan first time homebuyer program learn the 4 facts you can't afford not to know.
1. Requirements
Any property that is one to four units is eligible for the FHA program. Yes it means duplex triplex and fourplex can be bought with this program. The property needs to be appraised in two ways. 1st will be the AS is value. This value will determine the value of the home in its current condition without any repairs. 2nd will be the value after Rehabilitation. This value will determine the value of the home after all repairs are finished.
2. FHA 203k
Instead of buying the property firs t and then applying for a line of credit or a different loan to finance the purchase of the property the FHA 203 will finance the purchase with the cost of the rehab work. Let's assume you are buying 100,000 home that need 15,000 worth of work. With the FHA 203k program you will borrower the entire 115,000 with a fixed rate for 30 years. This can give you a great advantage on buying foreclosures that need repairs.
3. The construction payment
Due to the creativity of many scammers or fraudulent borrowers please be advice everything needs to be approved by the lender first. All construction cost estimates are only accepted by a licensed General Contractor with a breakdown of each item. The general contractor will be paid as agree in payments as the work is being completed.
4. Form partnership with non profit organization
The FHA 203k can and it has been used with many local and state agency to provide local housing to lower income borrowers.
Most Miami foreclosures and borrowers can qualify for the 203k program, my teachers used to always say knowledge is power. Know the programs available to you before you purchase your first Miami foreclosure. This is a declining market but it is also a market with great opportunity. To learn more on the FHA program click here. IF you are an investor looking to use the 203k program click here.
Ready to buy a Miami foreclosure Home? Contact Global Market Realty today. We have several Miami Foreclosures for sale in , Search the MLS for foreclosures in Miami . Do you want more information on a second home or a vacation home please contact us at 305 364-0037
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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