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miami preforeclsoure: 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 preforeclsoure: 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
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miami preforeclsoure: What is an "Approved Short Sale" or what does "Short Sale Approved" mean? - 02/03/09 09:37 AM
If you are in the market to purchase real estate in Miami, Fl, chances are you have looked at some properties that are Short Sales. A sale is "short" when the market value of the property no longer covers the loan the owner has on the property AND the owner has a bona fide financial hardship which will not allow him/her to bring the difference betweeen the sale price and the mortgage balance to the closing table. The lender(s) must agree to the sale.
For the lender to agree to the sale, they must analyze both the value of the property … (39 comments)
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miami preforeclsoure: Do I and does my property qualify for a Short Sale in Miami-Dade Florida? - 01/16/09 10:15 AM
We are saddened often to find homeowners who are in financial distress (including fellow real estate professionals), who believe that foreclosure is a predestined end result. Either they stick their head in the sand and think the problem is just going to go away somehow, or they do want a better solution to foreclosure but don't think there is one or that they qualify for one. The sad result is seeing many avoidable foreclosures.
If someone has a property they can no longer afford and the balance owed to the lender is more than the market value (or close to it) … (8 comments)
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miami preforeclsoure: 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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