miami short sale: Condo on Miami Beach for Sale, 9 Island Avenue on the Venetian Islands (Updated) - 11/17/09 01:42 AM
Renovated 2 bedroom Miami Beach Condo in amenity rich 5 acre Venetian Island … (5 comments)

I have previously written about how attorneys can be great and how they can be bad in the field of helping distressed homeowners.  Now the California Bar Association has published the preliminary results of an investigation into those attorneys supposedly offering services to help distressed homeowners in one of the hardest hit states.
Attorneys, especially real estate attorney, but also divorce and family law, criminal and commercial law practitioners have had a few dismal years.  Finding a new niche appeared easy to some attorneys, especially with promises of "loan modification experts" telling them to just refer the business their way … (1 comments)

miami short sale: "Sellers Beware" - Short Sale, Loan Modification and Foreclosure Rescue Scams cloud South Florida - 04/13/09 01:12 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)

miami short sale: A LAWYER'S EXPLANATION OF THE FORECLOSURE PROCESS from Start to Finish - 03/19/09 12:49 AM
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 according to rules of procedure in the court system and what … (4 comments)

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 you will have a question on if you had a property … (1 comments)

miami short sale: SHORT SALES PRIMER - BACK TO BASICS UPDATED - 03/19/09 12:42 AM
Short Sale Primer For Brokers, Sellers and Buyers
A Primer -
Since I wrote the Short Sale Primer the short sale methodology used by lenders has morphed several times.  It is a different animal than it was almost 10 months ago.  The passage of time requires that the original article, which was very popular (thank you) be revised to reflect new policies by the lenders.  I have also added several pertinent links to more detailed discussions on the various subjects in this article.
Short sales are nothing new.  When I represented a few national lenders for all of their foreclosures … (2 comments)

miami short sale: Miami 2009 Single Family Market Report - Regular, Short Sales and Foreclosure Comparison - 03/14/09 01:11 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)

miami short sale: Obama's Stimulus Plan - the hopeful good effects on the Miami Real Estate Market (Janie Coffey in the News!) - 02/28/09 08:00 AM
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

miami short sale: The Real Estate Tide is Changing in Miami, FL - Come join the Ride!! - 02/20/09 07:04 AM
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)

miami short sale: "I'm Jennifer & I'm a Short Sale Idiot" ... are you? - 02/11/09 01:23 AM
Hi All!
My all time favorite real estate author, trainer and agent extraordinaire, Jennifer Allan, has a Short Sale seminar coming up Mar 7th and she has asked Shelly and I to be the guest speakers!  If you are interested in participating, read the blog below and at the bottom is the sign up info.  We hope to see you there!
Okay, I can admit it. I don't know much about short sales. I know more than I did six months ago because I listed one (that never sold even though I had an offer) and I wrote an … (12 comments)

miami short sale: What is an "Approved Short Sale" or what does "Short Sale Approved" mean? - 02/03/09 01:37 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)

miami short sale: Do I and does my property qualify for a Short Sale in Miami-Dade Florida? - 01/16/09 02:15 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)

miami short sale: Buying Short Sales or Foreclosures - what are the Differences for Miami-Dade Buyers? Let's compare... - 12/13/08 04:35 AM
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)

Janie Coffey, Uniting Extraordinary Homes w/ Extraordinary Lives (First Coast Sotheby’s International Realty)

Janie Coffey

Uniting Extraordinary Homes w/ Extraordinary Lives

Ponte Vedra, FL

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First Coast Sotheby’s International Realty

Address: 1430 S Dixie Highway, 820 Highway A1A North Suite E-15-A, Ponte Vedra, FL, 32082

Office: 904-525-1008

Mobile: 904-525-1008

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We love real estate of all kinds in Miami!  From Land to Sea, agricultural to waterfront, we would love to be your trusted Real Estate Professional.  If you are looking for Miami's finest luxury properties or a deal on a foreclosure, we can assist you with the top technological tools and customer service available.  Due to the current economy, we are also well versed in short sales and would be happy to speak confidentially about your unique situation should you need to sell.  From FREE monthly market reports to FREE MLS searches, we are there for YOU!  You will always deal directly with the owners and Brokers of the firm to assure you the white glove service you deserve!

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