Short Sales / Foreclosure / REO Category

Sticktoitiveness

Jason Kapit | EWM Realty | Luxury Sales 7748 NW 112th Way in Heron Bay Some deals are easy, some are hard and some are just timely. This Heron Bay home (short sale) recently closed mercifully after going back and forth with lenders for over 18 months.  It was a very complex situation with a lot of players and a lot of information to wade through.  Andrew Litvak of Hartman Simons (Atlanta, Ga) was legal counsel for the sellers.  His background in real estate law, workouts and restructuring helped...Continue Reading!

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*** SOLD! *** 7370 NW 4 STREET #106, PLANTATION, FL – POLO GLEN

[youtube][/youtube] updated!!! sold as a short sale in under 45 days for $105,500 offered at $124,900 … WELL PRICED TOWNHOME! ATTORNEY ASSISTED SHORT SALE. THIS IS AS PRISTINE AS IT GETS. WELL APPOINTED 3 BED, 2 BATH, 1-CAR GARAGE TOWNHOME WITH GORGEOUS FLOORS, KITCHEN, BATHROOMS.  WONDERFUL VIEW AND PHENOMENAL POOL AND TENNIS FACILITIES MAKE THIS A MUST SEE! SELLER TO PAY TITLE INSURANCE AND CHOOSE TITLE AGENT. CALL JAMES TO SHOW. Call 954-347-3799 to set your appointment today or...Continue Reading!

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Home Prices Drop, But Only Slightly

Jason Kapit | EWM Realty | Luxury Sales The Typical Loss Evaded Home prices dropped 3.3 percent year over year.  Although this theme seems recurring, there is good news to report.  If you are an agent, a homeowner or anyone with a vested interest in residential real estate, this figure would suggest a serious slow down in the decline of home prices.  Consider this:  During the height of the meltdown, appraisers would attribute anywhere from 1/2 to 1 and 1/2 percent monthly drop in home valuation.  That equates to...Continue Reading!

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Judge Bailey Lays Down The Gavel

Jason Kapit | EWM Realty | Luxury Sales Sending A Message Miami-Dade Circuit Court Judge Jennifer Bailey sent a message to every  lender who presupposes that simply being owed money by a borrower is enough to circumvent laws, orders or anything else that under any other circumstances would simply not be tolerated in a court of law. Eslava vs. HSBC The substance of the case was this:  A borrower was looking to his lender for a loan modification to make payments more affordable.  Essentially unable to come to terms, the lender's...Continue Reading!

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The Home Affordable Foreclosure Alternatives Program

Jason Kapit | EWM Realty | Luxury Sales Attempting To Reduce Transaction Time for Short Sales The HAFA program takes effect on April 5, 2010—although some loan servicers may implement it sooner, if they meet certain requirement--and sunsets on December 31, 2012. Essentially, it will mandate a 10-day time period for lenders to make a decision once a file has been completely turned over to the lender by the homeowner. Misconceptions About The New Policy There seems to be a lot of misunderstandings about the policy as many Realtors are...Continue Reading!

*** Back-up Offers Only *** 7748 NW 112th Way, Parkland

Jason Kapit | EWM Realty | Luxury Sales This gorgeous Heron Bay home spans 6,218 sq. ft. and features 5 bedrooms and 4 and one-half baths.  Marble floors and a granite/stainless kitchen are just a few of the many upgrades for this lakefront home, located on a quiet street in the Greenbriar subdivision. The home has just been repainted, re-carpeted, re-landscaped and is meticulously presented as a short-sale worthy of your bid.  Aggressively priced at $599,000. To see additional photos of this home please click here. If you wish to comment...Continue Reading!

Citigroup Announces “Foreclosure Alternatives”

Jason Kapit | EWM Realty | Luxury Sales Are you on the verge of Foreclosure? If so, Citigroup has come up with a program intended to help borrowers who don't qualify for a mortgage modification or a short sale. "Foreclosure Alternatives - What Are The Requirements?" Borrowers must turn over property deed  to be considered; (more…)Continue Reading!

U.S. Vacancy Rate Increases as Banks Seize More Homes

Jason Kapit | EWM Realty | Luxury Sales Excess Inventory Will Be Problematic Stats - Q4 - 2009: 4.5% of mortgaged U.S. homes are in foreclosure; 18.9 million vacant homes according to census reports. Full story courtesy of Bloomberg.comContinue Reading!

Short Sales Represent A Major Percentage Of All South Florida Sales

Jason Kapit | EWM Realty | Luxury Sales Short Sales Are Popular Again It certainly speaks volumes that more and more people know the definition of a short sale.  For those of you who don’t, essentially, it is the sale of distressed real estate where the ultimate sales price falls below the mortgaged amount. The volume of these types of sales has so inundated banks and brokerages (more…)Continue Reading!