Miami Beach has become more expensive in the last few years despite the big drop in prices since 2007.However , there are many properties where the mortgages are priced much higher than the existing market value , leading to the need to process short sales to find a solution to these distressed properties.The 2 major ways to do this is through a bank foreclosure and the resultant REO property ,or speed the process and negotiate a short sale while the present mortgagor is still residing in the property and hopefully paying the proper monthly payment on time.These 2 methods probably account for as much as 60% of house sales in the South Florida area , so short sales is not something to ignore.
Since the short sales I am involved with provide an opportunity for my buyers to negotiate a discounted price 20%-30% off the market value , there is a hedge against a further drop of real estate prices expected in the next year or two .So, why not wait one or two years ? Well , the mortgae rates are expected to go up within that time frame , and the 20%-30% hedge will probably will more than cover the price drop .So, the price hedge and the lower mortgage rates now make more sense.What do you think?
SHORT SALES DEALS IN MIAMI BEACH
2 BEDROOM _@ BATH 1437 sq.ft, at the Famous Murano Condominium .
BUILT 2003 ,for only $900,000 with a market value of $1,350,000.
Best deal in Murano/Portofino .Call Michael at 305-531-2540 ffice or 305-992-9084 Cell.
or email me at email@example.com