$8,000 Tax Credit May Be Used As Down Payment
If you’re thinking about making a home purchase to take advantage of the depressed South Florida real estate market, the federal government might be able to help you get started with your purchase.
On Tuesday, Shaun Donovan, Secretary of Housing And Urban Development, said that the Federal Housing Administration (FHA) informed lenders to allow first-time home buyers to use an $8,000 tax credit as a down payment on…
January 5th, 2009
2008 is in the books. Whew!! So what are the statistics about the condos for sale in Miami- Dade county?
Short Sale Miami condos are often foreclosed upon by the lender before…
Buyers should lock in rates now
Supported by the Federal Reserve’s recent decision to cut its overnight federal funds rate to a range of zero to 0.25 percent, the 30-year fixed rate mortgage hit a 37-year low last week reaching 5.17 percent. That’s the lowest the 30-year mortgage rates have been since Freddie Mac began its weekly mortgage rate survey in 1971, noted Frank Northaft, Freddie Mac chief economist.
Click here for the full article and…
December 9th, 2008
Miami, Florida
Today, the Miami Condo Lifestyle team will start publishing a series of articles on the
changing dynamic in condo sales activity in Miami and Miami Beach, Florida.
Initially, we will focus on the distressed buildings with the highest percentage of closed sales for 2008. Our research shows that the Club at Brickell Bay, Vue at Brickell, Mark on Brickell, Skyline at Brickell and the Jade at Brickell are the top five buildings in…
There are ten completed buildings along the Miami River near Brickell area. Several have become great buying opportunities for the serious investor. There are two different situations developing in this neighborhood.
One affects the early buildings like One Miami, Neo Lofts, Neo Vertika and Brickell on the River North. These have a high number of foreclosures and short sales which will become foreclosures. The opportunity here is to get a bank-owned unit. These buildings are…
There are five buildings in the Brickell area that have become great buying opportunities for the serious investor. These include the Club at Brickell Bay, Mark on Brickell, Skyline on Brickell, Solaris and the Vue at Brickell. These buildings are struggling, they have a very large percentage of their units for sale (see chart below). They have many short sale offerings which will become bank owned foreclosures and they are probably not collecting all the…
When is a Short Sale Not A Short Sale? When It’s A Long Foreclosure Process!
April 6th 2008
Miami Beach, Florida
Today’s real estate vocabulary has expanded to include terms like foreclosure, short sale, pre-foreclosure, bank-owned properties, REO or real estate owned. There are many who would believe that they are all interchangable terms for a “good deal” in real estate. Au contraire! Now bank owned properties, REO, foreclosure properties can be priced in the market and present…
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