There is no way to spin it. Commercial real estate is in serious trouble, and without financing it will get worse.
The Foreign Investment in Real Property Tax Act (FIRPTA) should be substantially amended or repealed in order to attract much-needed capital to the domestic real estate markets.
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Click here to read entire story: Realty Times - Commercial Real Estate Losses Could Reach $1 Trillion
Homeowners filing for the home buyer tax credit are not allowed to use electronic filing and must file hard copies due to special documentation requirements.
The new home buyer tax credit filing rules are to ward off a repeat of 90,000 taxpayers who fraudulently claimed the credit, according to the U.S. Treasury.
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Blog friends : Click here to read entire story: Realty Times - Taxpayers Seeking Homebuyer Tax Credits, Refunds Must File Paper:
February 24, 2010—Mention e-mail marketing to real estate agents and you may find that many are still hesitant to move away from their tried-and-true snail mail methods. Others, however, are rapidly discovering that e-mail marketing is just about one of the most effective means of generating sales.
Click here to read story: 8 Reasons Why E-mail Marketing Works | RISMedia
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With so many distressed homeowners owing more than their homes are worth, short sales have become lifelines.
These types of sales make up more than half of the homes on the market in the Tampa Bay area. Generally, this means the mortgage lender has agreed to allow the home to sell for market value. The lender writes off the rest of the debt, and the homeowner walks away.
But is it really this simple?
Click here to read the entire story: Read the fine print in a short sale
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A short sale could be a better deal than bankruptcy or foreclosure, but it can also sap your time, wither your credit score and well, cost you money.
Click here for entire story:Realty Times - Short Sale Transaction a Tall Order
You need a TEAM to successfully close on your shortsale…….WE are here to help…We are successfully closing shortsales daily!!!!! Contact me and i’ll let you know how we can assist you.
A ground-breaking South Florida court decision has paved the way to a legal solution for condominium and homeowners associations to address the under-reported but highly commonplace practice of banks stalling their foreclosures. Banks may engage in this tactic in an effort to delay taking title to financially upside down units and avoiding payment of past due assessments and legal fees due to associations. The new legal approach puts an end to this practice
Click here for more of the story: Realty Times - Florida Court Decision Could Impact Builders and Bank Foreclosure Processes
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– Nearly half of South Florida homes sold in December did so at a loss, a 4 percent increase from the previous year and a “disturbing” sign for anyone with a home on the market.
Click here for entire story:Half of South Florida homes sell for a loss
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Think there are all kinds of crazy deals to be had in today’s real estate market? Think AGAIN~~~
Click here to read entire story :Lots of bargains? Not so, Fla. homebuyers say
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Distressed Florida homeowners whose loans were financed by 
CitiMortgage may be able to stay put for a while and avoid the pain of foreclosure proceedings under a new program, the company said Thursday.The deed-in-lieu program – which, beginning Friday, will be tested in Florida and five other states – allows those facing foreclosure to remain in their homes for six months, in exchange for signing over their property deeds to CitiMortgage at the end of the period.
Click here to read story: CitiMortgage launches program for distressed homeowners - South Florida Business Journal:
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The New GFE's & HUD-1 Seminar
Don't miss this seminar with:
MARIA ELENA ARIAS!"The New Rules of the Game"
The playing field has changed...do you know the new rules and how they affect your customers and your closings?
The GFE's on 1st...
The Hud's on 2nd...and
Who's on 3rd...?
You, the REALTOR in the know!!!
Where:
415 West 51st Place, Suite 200
Hialeah, Florida 33012
*Our building is located next to the Farm StoreWhen:
February 25, 2010 - 10:00 AM - 12:00 PM (ENGLISH)
AND
February 25, 2010 - 1:00 PM - 3:00 PM (ESPAÑOL)
Guest Speaker: Maria Elena Arias,
President & Owner of Colonial Guaranty & Title Inc., a statewide and national title insurance company. Educating, motivating and empowering real estate professionals in the industry, through multiple industry related seminars has become her passion. Through the dedicated efforts of her team, they are successfully facilitating the short sale negotiations and successfully closing short sales daily. Maria Elena holds a Real Estate Broker's License.
Ms. Arias is the 2010 President Elect for the Women's Council of Realtors Miami Dade Chapter. She was also the 2009 VP of Membership for the Women's Council of Realtors Palm Beach Chapter and the Miami Dade Chapter. She is a member of Realtors Association of the Palm Beaches, and won the coveted 2009 Affiliate of the Year Award for her dedication to the Board.She is also a member of the Real Estate Association of Miami and the Beaches and the Real Estate Association of Miami Dade. Maria Elena holds the SFR Certificate (Short Sales and Foreclosures Specialist) from the National Association of Realtors.
Magaly Toranzo @
305.557.1400 305.557.1400
Northwestern Dade Association of Realtors®, Inc.
415 West 51st Place, Suite 200
Hialeah, Florida 33012
p 305.557.1400 305.557.1400 - f 305.822.1730
This email was sent to mtoranzo@nwdrealtors.com by mtoranzo@nwdrealtors.com.
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Northwestern Dade Association of Realtors, Inc. | 415 West 51st Place | Hialeah | FL | 33012
NDAR New HUD-1 Seminar w/Maria Elena Arias in English & Español
It's a fairly rare event, but now and then most of the important economic directional signs go positive, and this is one of those weeks.
Click here for story: Realty Times - Real Estate Outlook: Positive Movement
You've probably heard that the Obama administration's budget sent to Congress last week emphasizes helping small businesses around the country, but you may not know that it also includes lots more potential financing opportunities for purchasers, owners and rehabbers of commercial real estate.
Click here to read entire report: Realty Times - Investor Report: Financing Opportunities
.” A new era is blossoming, “The suburban century is over. This is the urban century."
Very interesting data on the future of housing.
Click here to read entire story: Realty Times - Housing Affected by Demographic Trends
On November 30, 2009, the Treasury Department released guidelines and forms for its new Home Affordable Foreclosure Alternatives Program (HAFA). HAFA is part of the Home Affordable Modification Program (HAMP). HAFA provides incentives in connection with a short sale or a deed-in-lieu of foreclosure (DIL) used to avoid foreclosure on a loan eligible for modification under the HAMP program. Servicers participating in HAMP are also required to comply with HAFA. A list of servicers participating in HAMP is available at MakingHomeAffordable.gov.
HAFA applies to loans not owned or guaranteed by Fannie Mae or Freddie Mac, which will issue their own versions of HAFA in coming weeks.
Click here to read entire story: Home Affordable Foreclosure Alternatives Program (HAFA)
It's not easy turning a potential foreclosure into a successful affordable mortgage modification -- from either side of the table.
Homeowners, facing confusing documentation requirements and conflicting advice from both honest and dishonest corners, become intimidated and drag their heels or bury their heads.
Go here for the entire story: Realty Times - Feds Giving Mortgage Modifications Additional Boost
