Junior Lien Holders May Be Key To HAFA Success

The success of HAFA will not depend solely on the implementation of the new guidelines and procedures. A great deal will also depend on the cooperation and participation of parties that, so far, have provided some of the greatest impediments to successful short sales…the junior lien holders.  Click here to read entire story:Realty Times - Junior Lien Holders May Be Key To HAFA Success

Survey: 4 in 10 homeowners would consider walking away from ‘underwater’ mortgage

If the banks would realize that many of the homeowners are NOT interested in a loan modification, but in actually getting out of the house via “short sale” there would be alot less foreclosures and REO “Bank Owned Properties” going into the marketplace.  It will take years for the homes with “underwater” mortgages to realize any equity and the loan modifications ARE NOT viable options for these homeowners.

More than 40 percent of homeowners with a mortgage say they would consider abandoning an "underwater" property, according to a national online survey released Thursday.  Read this story and decide for yourself:  Survey: 4 in 10 homeowners would consider walking away from ‘underwater’ mortgage

Establish What You Own with a Land Survey

As a title agent in business for over 30+ years, i’ve seen alot of issues with respect to property boundary lines.  I’ve seen a developer build a house on a lot with the easement running two feet in one of the bedrooms….Ouch!!!! Not a good one to try to resolve….however, with the proper releases from the city and utility companies, it was cleared.  I always suggest that a buyer of a property purchase a survey.  Usually in a financed transaction, the lender will require a survey.  But on cash deals, its up to the buyer to order one.

The only way to accurately and legally establish property boundaries and use restrictions is through a land survey by an accredited land surveyor.  Click here to read the entire story on what can happen without a survey:  Realty Times - Establish What You Own with a Land Survey

S. Fla. HAMP modifications slow - South Florida Business Journal

A SLOOOOOOW start to HAMP Mods???? Why is this so surprising?  The lenders have known about this coming for months and they are still off to a slow start?  Read this article…I truly hope that this program will be successful, but its not for everyone.  If you’d like more information on HAMP and HAFA, contact me and I’ll be happy to give a one-on-one or group presentation on its procedures and options….

“The Obama administration’s program to help keep people in their homes has helped a little more than 36,000 Floridians complete mortgage modifications – 13,059 of which are in South Florida”  Click here to read entire story: S. Fla. HAMP modifications slow - South Florida Business Journal

Real Estate Outlook: Experts Weigh In

Do you have crystal ball?  Can you predict the future?   Economic experts believe that the worst is over…….oh yea and remember those Jumbo Loans…….they're BACK.... READ ON….Mega-investor Warren Buffett and a group of top corporate leaders are weighing in on a key issue that's crucial to a sustained real estate recovery: How long will the good economic news we've been getting lately continue?

Click here to read entire story:  Realty Times - Real Estate Outlook: Experts Weigh In

Florida's Distressed Condo Relief Act Should Supercharge Fractional Condo Sales

This is a very interesting article for investors.   Condo’s they are depleting fast.  Take a look:

Bottom fishing for Florida condominiums is over. Waiting on prices to drop was a 'yesterday' strategy. Buying fractional condo before the owner or lender starts getting multiple offers is 'today.'

Click here to read entire story:  Realty Times - Florida's Distressed Condo Relief Act Should Supercharge Fractional Condo Sales

Foreign buyers kick-start sales

I recently spoke at The International Real Estate Experts Panel event held at the Trump Towers in Sunny Isles.  The message was very clear that the foreign investor is a very viable purchaser with lots of cash and lots of specializing needed to direct them to good properties to purchase. 

Take a look at this…..Condominiums are now selling faster in Central Florida than they did at the peak of the real estate market four years ago, when renters, retirees and eager urbanites, seized by condo fever, were snapping them up in Metro Orlando at the rate of 20 a day.

Click here to read entire story:  Foreign buyers kick-start Orlando-area condo sales

End of tax credit unlikely to deter most buyers

Even though the deadline for the tax credit has come and gone, there are still many potential new Homebuyers still actively looking for their new dream home. 

More than 90 percent of consumers believe the homebuyer tax credits helped both first-time homebuyers and the U.S. housing market overall. Among consumers actually shopping for homes, 65 percent believe that the end of the tax credits will have little or no effect on their interest in purchasing a home.

Click here to read entire story: End of tax credit unlikely to deter most buyers

Florida real estate market has hit bottom

These are great signs that we are seeing light at the end of the tunnel……although a long road ahead for recovery, but we are starting to move forward ….

Florida real estate markets show the first tentative signs of recovering from the most painful recession in the state's history, according to the latest University of Florida (UF) report.

Click here to read entire story: UF: Florida real estate market has hit bottom