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)

short sales: An open RANT to short sale listing agents in South Florida (a select few, you may recognize yourself here) - 09/21/09 12:22 AM
Dear Short Sale Listing Agent,

I've been showing, or trying to show a lot of your listings recently and have a few suggestions that might improve your business, your reputation and your actual ability to SELL and CLOSE your listings. I'm sure you "just weren't thinking", or "just too busy", or just didn't know", but here are some things you shouldnt' do if you want to actually preserve any of the above (business, reputation and closed sales):

1) Don't use your comment section intended to highlight the property features to potential buyers with a load of legal B.S. and … (108 comments)

short sales: Foreclosure? When is the Best Time to See an Attorney? - 07/23/09 12:11 AM
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 be too late to discuss all of the solutions that may … (0 comments)

Richard Zaretsky's Short Sale and Modification Blog Articles
 A Periodic Listing of Articles by Richard P. Zaretsky, Esq.
Be sure to contact your own attorney for your state laws, and always consult your own attorney on any legal decision you need to make.  This article is for information purposes and is not specific advice to any one reader.

short sales: Free Short Sale Buyer Reprsentation Class - 04/17/09 11:39 PM
If short sales are popping up in your area or even dominate it, you don't have to show too many buyers before you realize that, as much as you have wanted to avoid them, it might no longer be possible.  Working with buyers on a short sale can be extremely frustrating for both agent and buyer if you are not familiar and comfortable with the special nuances of a short sale, and especially those that effect the buyer.

Short Sale seminar for Realtors Listen to the session here! 
If you would like to read the short sales series … (9 comments)

short sales: "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)

short sales: 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)

short sales: 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)

short sales: Tips for working with short sales from the BUYER's side - how to protect yourself and your buyer! - Follow up Primer for Beginners #1 - 03/09/09 01:48 AM
After participating with Broker Bryant in Jennifer Allan's webinar on Short Sales for beginners, I realized there is just wayyyy to much info, even at the most rudimentary level, to go over in a 2 hour class, so here is blog 2 of the promised follow up.
Since working on the buyer side as your first time short sale has seem to create the most frustration, below is a short primer on buyer side dealings...
As short sales spread from the hot spots of Las Vegas, Florida and AZ into the rest of the country, it seems that it is becoming … (15 comments)

short sales: Short Sale Q&A - Short Sale Primer for beginners - 03/08/09 07:48 AM
Thank you everyone for joining Jennifer Allan’s webcast yesterday which was a primer on working with Short Sales.  If you missed it, you can listen to it here (warning, it is 1:45 hours long, but considering 134 people out of 140 listened to the whole session, I am hoping it provided some useful basic short sale info for fellow Realtors).  Broker Bryant and I had a little fun giving this and we hope you will enjoy it.Far too many Q&As came out of the webinar to answer during the session so we decided to post a follow up blog here.Disclaimer 1: … (38 comments)

short sales: 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

short sales: 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)

short sales: "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)

short sales: 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)

short sales: 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)

short sales: 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)

short sales: Buyers -->> Making an offer on a Short Sale? What does this mean for you? - 05/22/08 12:41 PM
Many (most) buyers today are really looking for a "deal" and often equate the term "short sale" with "deal". This may be the case, but then again, it may not. If you are a buyer anticipate making an offer to purchase a property that will be a short sale, the best way to do so is with eyes wide open as to what you may expect. Here are a few things to consider before going forward with an offer on a short sale....
1. Short sales take notoriously long, easily several weeks to several months depending on the bank that holds … (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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