On December 20 I wrote a post about some changes to federal laws that may affect Miami’s real estate market in 2014.  I neglected to include two more (well one is a Florida State Law, but I will include it here anyway).  The first one I thought would be extended by now, but since we […]

Many homeowners who are under water have been thinking of short selling their home because they have not been able to negotiate a loan modification with their mortgage lender.  If you are one of them, now may be a good time for several reasons. Banks are more willing to work with a short sale than […]

Over the last several months I have written about different signs, see blog links below,  that the real estate market is changing.  Today’s Miami Herald article, Rents rise as overseas buyers invest, talks about some of the reasons why. More Proof Miami-Dade’s Housing Market is Turning Around Investors Are Taking A Bite Out Of Inventory […]

As the economy continues to trudge along, many South Florida homeowners are still struggling with unemployment and mortgage payments.  If you are thinking of short selling your home, you should be aware that several banks have incentives for you to short sell versus going through the lengthy, in Florida it can take close to two years, and extremely credit-damaging foreclosure […]

Shadow inventory is basically the number of properties that are projected to hit the market due to distressed owners, those who are behind 90 days or more on their mortgage,  or because they will be or already have been taken back by the bank.  There has been a lot of speculation lately about how this […]

According to RealtyTrac, foreclosure activity in South Florida will continue at high levels through 2010 and there will be a glut of inventory through 2013. In the current market, 60% of active buyers interested in distressed propertys and 40-50% of sales involve a foreclosure or shortsale.

At the end of November, the United States Treasury Department released new rules attempting to encourage banks to speed up short sales.  The rules create a uniform process and documents that all banks must use as well as provide cash incentives to banks willing to participate.  The new rules are starting to work…I actually had […]

If you are selling your property and you owe more on your mortgage than the property is worth, you will have to do a short sale.  The following documents are going to be the minimum required by your lender to determine whether they will approve a short sale.  Hardship Letter – explain in detail […]