Welcome to my Website. In addition to providing a place for you to Search Active listings, my website also provides information about Real Estate in South Florida. I specialize in Coral Gables, Pinecrest, Palmetto Bay, Dadeland, South Miami, Miami Beach, Miami Shores and the surrounding Miami-Dade County. In addition to the geographic area, because of the market and the economy, I have also become an expert in properties being offered for sale that are Short Sales and Foreclosures or Bank Owned (REO) properties. As of June 2010, there were 24,150 properties offered for sale on the MLS in Miami-Dade County and 25% of those residential properties were Short Sales or REOs. However, of the 9,524 properties that pended during April, May and June and al least 70% of those properties were Foreclosures or Short Sales.
Short Sales are properties where the owner owes more than the property is currently worth, and due to financial circumstances of the owner, the lender agrees to accept an offer from a third party, that is less than the current mortgage. This can be a time consuming and arduous process. The process starts with a Realtor providing an estimate of the value of the property through a Comparative Market Analysis (CMA) and then listing the property for sale. Many lenders will not agree to allow a Short Sale until they have a signed contract by Buyers ans Sellers. Foreclosures or REOs are properties that have already been seized by the lender. They are offered for sale at usaully a reduced price. These properties are usually sold "As Is", which means the Buyer agrees to take possession of the property in the condition that it is in at the time of contract. In the State of Florida, an inspection is customary, however, the bank can require that the inspections be done prior to or after a contract is executed.
If you currently own property and are thinking of placing it on the market, this site contains information about preparing your home for sale, selecting the right agent, pricing your home appropriately, marketing it effectively, going through the inspection processes, and receiving a timely market evaluation.
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