It should not come as a surprise to anyone that foreclosures are still driving our Miami-Dade real estate market. But what is interesting to me is how many homeowners are still trying to sell their single family houses at prices far above what the market demands. For the homes that are going under contract, the “days […]
New Short Sale Disclosures From MARS
No, not that Mars. I am talking about the new short sale disclosure requirement that comes from the Federal Trade Commission’s January 31st ruling on parts of the Mortgage Assistance Relief Services (MARS). On February 23, the National Association of Realtors published a summary of the ruling and their recommendations in a report titled “New FTC Rule Requires […]
EPA: Multi-Family Housing Near Public Transit is Greener. Melanie Dawn: And in Miami, it’s Beautiful, too!
The EPA has just released a white paperconfirming what most of us know intuitively: multi-family housing located near public transportation is generally “greener” than any other type of housing. Their graph tells the story very well: It illustrates the two key points in the study about the relationship between housing style/location and energy consumption: • […]
Short Sale and Foreclosure Listings Down in My Miami
Today in my geographic market – which runs from the northern edge of Downtown Miami, through Brickell, Coconut Grove, South Miami, Downtown Kendall & Dadeland, Pinecrest and Palmetto Bay – there are currently 2964 condominiums and townhouses listed for sale on the MLS. Of those, 480 are listed as Short Sales and another 72 as “REO’s” […]
6 Big Hits to Your Credit Score
In the real estate business I often hear people asking how short sales, foreclosures or late payments affect their credit score. USAA recently published an excellent article helps answer that question: Here’s a look at six top credit score zappers and their average hits to your score based on data compiled by Fair Isaac Corp., […]
77,000 New Foreclosures in Florida in First Quarter ’08
The Mortgage Bankers Association reported last week that Florida ranked second in the country in failing loans. And according to The Miami Herald: In the first three months of the year, the Miami-Dade County Clerk’s office recorded 11,768 lis pendens filings, which include initial foreclosure filings but also liens by condo and homeowner associations. It […]