Real Green Trends
Archive for the 'Bank Owned Properties – Foreclosures' Category
Coming up soon!!!
In the coming days I will list for sale this magnificent waterfront estate in Miami Beach.
This over-sized Miami Beach home is almost finished and would be ideal for someone who would like to add his own taste
How about walking distance to the Standard Hotel? Or a few mintues from the Miami Beach Golf Course, Alton Road or the famous Lincoln Road with its movie theatre and great stores. And do not forget to the Sunday’s farmer’s market running in Lincoln Road all year round.
- 7300+ Square Feet
- 7 Bedrooms 7 baths
- Marble floors throughout
- Wood floors in living areas
- Open Bay views and dock
Too much to mention, if this is the house you were looking for, call me for pricing and a private tour.
Recent Market Activity for this luxury condominium at 3201 NE 183 St, Aventura, Fl 33160
I am sure that as a resident of Peninsula you sometimes wonder what is going on in your building. Are there many foreclosures? What about short sales? ” I am under water and I am considering applying for a loan modification“.
Well let me try to answer some of these questions.
As you can see in the following graph:
In the last 6 months, out of a total of 36 condos:
- 26 are available for sale (8 Short Sales)
- 6 closed (Just one Foreclosure or REO)
- 4 are pending closing (2 Short Sales)
The average price per Square Foot is $237, with an average day on the market of 106 days.
Let’s see now what is happening in similar condos in the Aventura area
We see an improvement in market activity for Aventura Real Estate in General – reduction in days on the market, reduction in inventory – and especially for Peninsula. With respect to loan modifications some Banks are more willing to work with their borrowers and I have already heard of successful negotiations.
Moreover, in the short sales arena there’s new guidelines which make the entire process more accessible to all parties and easier to navigate.
Very soon I will be holding meetings with specialists aimed at informing my customers of their options. If you are interested in learning about your options and knowing what is going on in your neck of the woods, just contact me for dates and locations.
I would like to share with you this article by Alexander Britell
Another jump for Florida foreclosures
November 11, 2010 12:00AM By Alexander Britell
Florida foreclosure activity increased for the second straight month in October, with the state maintaining America’s second-highest foreclosure rate for the third month in a row. One in every 155 Florida housing units received a foreclosure filing last month, 2.5 times the national average, according to data from RealtyTrac.
For the month, there were 56,858 properties statewide receiving a foreclosure filing, second in the nation to California and representing 17 percent of all foreclosures in America for the month.
The numbers follow a month that saw investigations into allegedly unseemly practices by firms handling Florida foreclosures.
Miami-Dade County saw a decrease, however, with a total of 5,786 foreclosure filings for the month, more than a 25 percent decrease from the same period in 2009. Broward and Palm Beach counties did not fare as well, with Broward seeing a 7.75 percent increase and Palm Beach more than doubling with a 104.51 percent increase to 6,851 total filings. The most total filings, however, were in Broward County, with 7,234.
In total, there were 19,961 foreclosure filings in South Florida, up 11 percent from the year before.
In the third quarter, the Miami-Fort Lauderdale-Pompano Beach market led the nation in foreclosure filing activity, with 58,624, due in part to Florida’s nature as a judicial foreclosure state.
Nationally, foreclosure filings dropped. Lenders made foreclosure filings on 93,236 properties last month, down nine percent from a record high in September but still up 21 percent from Oct. 2009.
Foreclosure auctions were scheduled for the first time on 138,361 properties in the U.S. last month, a decrease from 2009.
Are you interested in purchasing a home or a condo in South Florida? I am a certified REO agent representing banks and asset management companies. Call me now and I will assist you in your home/condo buying experience.
Se escrituraron 250 unidades en Residences at Viceroy. Gran Exito de Ventas. Todavia puede participar y comprar una unidad. Comuniquese conmigo para comprar mejor y con confianza.
Desarrollador: The Related Group
Este Ultimo Complejo de Lujo en Brickell ofrece Tres Torres
Icon Tower I con 57 pisos
- Parking: 11 niveles de estacionamiento
- Penthouse : Once unidades de un piso, y 4 de dos pisos
- Total: 713 Unidades
Icon Tower II con 57 pisos
- Lobby en el segundo piso
- Penthouse : Siete unidades de un piso, y 4 de dos pisos
- Total: 561 Unidades
Viceroy Resort and Residences en ICON Brickell con 50 pisos
- 148 Unidades tipo Resort
- En el piso 50 (Terraza) Piscina, Restaurant y Lounge area
- Total: 520 Unidades
GREAT OPPORTUNITY TO BUY A FORECLOSURE IN LUXURIOUS TRUMP INTERNATIONAL HOTEL IN SUNNY ISLES BEACH FLORIDA
TRUMP SONESTA BEACH RESORT
With 10 acres of oceanfront property I am sure you will enjoy your vacation in this condo/hotel resort. You also have the option to place the unit in the hotel rental program and rent it while you are away.
- King Size Bed
- Sofa Bed
- Seating/Breakfast corner
- Awesome views of the Beach and Intracoastal
- Refrigerator,sink, microwave
- Full size marble bathroom
- STATE OF THE ART FITNESS CENTER & SPA,
- GROTTO-STYLE POOL, JACUZZI AND
- INTERNATIONAL RESTAURANTS.
Bank Owned – REO
Bank is asking for this Trump Sonesta Unit $199,000
Contact me for market reports, other luxury condos and homes for sale in Sunny Isles, Aventura, Golden Beach, Miami Beach, Harbor Islands, Bal Harbour and other oceanfront communities in South Florida.
3201 NE 183 ST, Aventura, Fl 33160
Foreclosure Sale – Exquisite Bank-Owned Waterfront Condominium
Over 3,000 SF overlooking the Intracoastal and the Ocean.
Marble floors, state of the art kitchen, high ceilings, flow-through unit, spa, waterfront pool, entertainment areas, valet parking.
Developer’s unit tastefully finished with marble floors. Bank will sell it fast.
Contact me for further information and to schedule a private showing. [email protected]
For market updates and more information subscribe to my market reports.
It is now on TV and everywhere on the News. In Miami, Florida Developers/Banks have slashed condo prices.
Condo Sale Mania in Miami.
Are you ready to buy? Do you need more information? Let me provide you with the right information and price list.
Contact me through my blog www.realgreentrends.com or email me at [email protected] and I will help you through the process of buying a condo.
FNMA gives special approval designation for some Florida condo projects
The Special Approval designation applies to certain established projects located in Florida. Lenders must use Special Feature Code 156 for delivery of loans secured by units in condo projects with a Special Approval designation.
In addition, lenders must deliver project review code Type T – Fannie Mae Review. For details, refer to Lender Letter LL-2010-01 and the FAQs.
Great news, click here and the letter from FNMA will open where you will see the condos that have been temporarily approved in your area.
Are you ready to buy? Contact me for a private tour of the properties and I will guide through the process.
Everything You’ve Ever Wanted To Know About Short Sales and Foreclosures…Its all Happening Here in Miami
Today’s South Florida real estate market presents opportunities for both the investor and homebuyer.
As many of us are aware, it is difficult to avoid the subject of short sales and foreclosures when discussing real estate in South Florida these days. While those methods can present incredible opportunity for the purchase/investor, it is necessary to understand the legal aspects of such purchases.
Short sales are a pre-foreclosure arrangement with a lender, whereby they will allow an owner to sell a property for less than the amount of the current mortgage balance. Up until recently, the short sale process has been a frustrating one. Understaffed banks moved very slowly to approve these type of sales. A new trend appears to be emerging however. As the courts of Miami have been flooded with foreclosure actions, the time in which to adjudicate foreclosure matters has lengthened. As such, the holding costs incurred by the banks with respect to the delinquent properties has increased. In light of the increasing expenses incurred by lenders in the foreclosure process, banks have been building up their staff for the particular purpose of expediting the short-sale approval process. The U.S. Treasury has also jumped on board to encourage the short sale by offering incentive payments of $1500 to the home-owner and $1000 to both loan servers and second-lien holders. As with any investment, the investor must take special care to research his potential short sale purchase. While a property may be approved as a short sale, do not jump to the conclusion that you are getting the deal of the century. You must still do your homework to see what is happening with real estate values in that particular area.
Foreclosures occur when the mortgagee is unable to make its mortgage payments, and the mortgagor, through its security interest in the subject property, goes through a legal process which will give the mortgagee title to the property. Once the mortgagee has title, the property will be auctioned and the mortgagee keeps the proceeds in order to recover its investment. At a foreclosure auction, investors must arrive with certified funds(the equivalent of cash) for the total purchase price amount. Investors have limited amounts of time to evaluate the property, and usually can only see its exterior prior to the auction. In addition, other liens and taxes may be attached to the property. When considering this type of investment, the investor must understand these risks and consider an adjustment to the purchase price to account for these potential increases in the cost of the investment property.
The investment possibilities are endless right now in Miami. With the right research regarding a property, you can buy for use or investment a property greatly under previous market values. When making these kind of investments, take great care in choosing your realtor. Make sure that the realtor understands the market, the rental values and the potential sales value of your property. Also, as much as time allows, have research conducted to ascertain what potential liens may have attached to the subject property. The more knowledge you have regarding a property, the more risk you take out of your investment.
Any questions??? email me at [email protected] or leave a comment and I will contact you back.
SOUTH TOWER AT THE POINT, 21055 YACHT CLUB DR, AVENTURA, 33180
Hermosa vista desde el piso 26 de dos dormitorios y dos banos en The Point. El departamento es muy grande, mas de 147 metro cuadrados distribuidos a todo lujo. El edificio ofrece spa, piscina, cancha de tennis, gimnasio y muchas actividades sociales. Para mas informacion sobre esta gran oportunidad escribanos al [email protected]