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miami foreclosure: Foreclosures (REOs) in Coral Gables, are there any? - 07/25/09 04:34 PM
People always ask us if there are any foreclosures in Coral Gables. Sellers want to know if their property values are protected and buyers want to know if there are deals to be had in one of Miami-Dade's most prestigious addresses. Yes, but they come on the market infrequently and the competition is fierce. The stability of the Coral Gables has mostly protected it from foreclosures. There have been short sales, but due to the desirable address, they normally do not make it all the way to foreclosure and are sold at the short sale stage. Even those are not nearly … (4 comments)
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miami foreclosure: Foreclosure? When is the Best Time to See an Attorney? - 07/23/09 07:11 AM
Via Richard Zaretsky, Florida Real Estate Attorney (Richard P. Zaretsky P.A. ):
First in a series:
My law practice encompasses assisting and guiding many borrowers that are in financial distress and we take the position that Foreclosure is NOT a Solution. Most borrowers come into the office for guidance and if they are lucky, planning for solution options once they realize that financial distress is a likely scenario. However there is a significant trend this third quarter of the year where we are seeing many more people coming to us with foreclosure suits that were filed many months ago, and now it may … (0 comments)
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miami foreclosure: "Sellers Beware" - Short Sale, Loan Modification and Foreclosure Rescue Scams cloud South Florida - 04/13/09 08:12 AM
The age old adage "buyer beware" has been turned upside down in South Florida. These days it's "seller beware". For the many thousands of homeowners who find themselves upside down in their mortgages and unable to either keep up their payments or sell their homes, the scammers have come out en mass as "loan modification specialists", "home savers" and more creative terms to try and trick you out of your money and, in the worst cases, your home!
Here are just a sampling of things our short sale seller clients were told by other "professionals" before they selected Papillon Real Estate, … (2 comments)
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miami foreclosure: A LAWYER'S EXPLANATION OF THE FORECLOSURE PROCESS from Start to Finish - 03/19/09 07:49 AM
Via Richard Zaretsky, Florida Real Estate Attorney (Richard P. Zaretsky P.A. ):
As an attorney I often consult with homeowners that are in distress along with the Realtors that represent them in trying to accomplish a short sale. Often a detailed explanation of the foreclosure process would be very worth while for my client to have a thorough understanding of what they may be facing as the lender seeks to enforce the promissory note and mortgage. We usually don't have enough time to explain the process in full, so here is an article that should help non-lawyers understand what is happening … (4 comments)
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miami foreclosure: FORECLOSURE DEFICIENCY JUDGMENT or SHORT SALE PROMISSORY NOTE or BANKRUPTCY? - REVISITED - 03/19/09 07:44 AM
Via Richard Zaretsky, Florida Real Estate Attorney (Richard P. Zaretsky P.A. ):
Whether to agree to a negotiated promissory note in a short sale or allow the house to go to foreclosure is one of the most discussed topics around. It deserves a simple comparison.
My previous article on this subject can be found at Negotiated Payback or Foreclosure Judgment Deficiency? Compared.
A negotiated promissory note is ALWAYS better than a deficiency judgment resulting from a foreclosure. Here is why:
Deficiency Judgment -
1. You have a foreclosure judgment against you and if you fill out most applications about your background … (2 comments)
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miami foreclosure: Miami 2009 Single Family Market Report - Regular, Short Sales and Foreclosure Comparison - 03/14/09 08:11 AM
Take a look at the above graph. Anything jump out at you? Hmmm, perhaps the Jolly Green Giant? What is that you ask? It's the number of single family homes in the $100,000 to $250,000 that have sold in 2009 which were REOS (bank owned foreclosures). This is the overwhelming largest property type that has sold so far in 2009. Nearly 2/3 of all of the properties closed in 2009 have been foreclosure and of those, the largest majority by far closed for $100,000 to $250,000 sold price range. Although a few of these properties had Dade County appraised market … (0 comments)
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miami foreclosure: Obama's Stimulus Plan - the hopeful good effects on the Miami Real Estate Market (Janie Coffey in the News!) - 02/28/09 04:00 PM
The effects of the stimulus plan can't come fast enough for Miami residents. Nearly everyone has been affected by the declining real estate market, from home owners trying to sell their properties to city governments facing severe budget shortfalls due to decreased tax revenues. Even homeowner's not selling may be troubled by vacant and/or vandalized homes near by and reduced credit lines. Channel 10's Mark Joyella reports...(watch to see me comment on the market!)
if you are planning or buying or selling in Miami-Dade, FL, call someone whose there to help! Janie Coffey 786-252-4970
… (5 comments)
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miami foreclosure: The Real Estate Tide is Changing in Miami, FL - Come join the Ride!! - 02/20/09 03:04 PM
Wow, I feel like I have whiplash! It seems that all of the people who WANTED to buy but were just waiting are entering the market! I have written 2 offers today, have 2 more to go and a few in the wings. The general consensus from the buyers is that we finally have some REALLY GOOD DEALS now! Mostly short sales and foreclosures, the pricing is finally where they are ready to get off the fence.
For the most part, the current wave of buyers are:
1) investors
2) Buyers who could not enter the market at the height with … (2 comments)
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miami foreclosure: New Trend in Miami Foreclosures --> Lenders doing repairs so that retail buyers can purchase! - 02/15/09 07:24 AM
We have a TON of foreclosures in Miami and I was just told one of the leading foreclosure attorneys for the banks has a backlog of 3,000 files that haven't even begun to be processed! Until the foreclosures slow and the inventory is absorbed, our "stabilization" is still a long way out.
The basic MO for a Miami foreclosure has been a stripped unit; at it's most "intact" stage, just the applicances were missing, next stage included the AC units and most destroyed included any and all metal the vandals/thiefs could make off with including the electrial wiring and box, the … (2 comments)
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miami foreclosure: Buying Short Sales or Foreclosures - what are the Differences for Miami-Dade Buyers? Let's compare... - 12/13/08 12:35 PM
Every buyer wants a "deal" right now and I don't blame them! If you are buying in this wildly crazy market in Miami-Dade, you need to feel comfortable about your purchase. Deals can most definitely be had, often in the form of a short sale purchase or a true foreclosure.
Here is Miami-Dade County we have a four year supply of houses (compared to a 5-6 month "normal" supply) and at least 1/3 of them are "distressed sales" (foreclosure, pre-foreclosure, etc.). The properties that are actually closing however, are 2 to 1 distressed vs "normal sale conditions". This means most … (9 comments)
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Janie Coffey, GRI - Miami Real Estate
Coral Gables,
FL
More about me…
One Sotheby's International Realty
Address: 1430 S Dixie Highway, Suite 110, Coral Gables, FL, 33146
Office Phone: (305) 666-0562
Cell Phone: (786) 252-4970
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