Short Sales: Do You Have To Be Late On Payments To Apply? Homes For Sale: Homes For Rent

In the Sunday, August 26th Sun-Sentinel, the "Ask a Real Estate Pro" I came away with an interesting question about short sales-- do you need to be late on your payments to be eligible for a short sale.  The writer explained that he has a hardship, but was not 45 days late on payment.  As a result of the non-late payment, he was denied on his short sale request. 

The author of the article, Gary Singer, recommended trying a short sale while still making payments.  He explained some lenders are willing to work while the owner is still current on payments.  Mr. Singer explained he has been told some lenders require the loan to be delinquent as a way of scaring away "strategic" short sellers. 

Mr. Singer further explained sometimes the difference between a denial and an approval has more to do with the individual negotiator than the lender themselves.  In addition, he points out that lenders also change their policies. 

When I work with my clients when both representing homeowners and buyers, I tend to lean towards going after the short sales that are delinquent on their payments.  It eliminates potential confusion and hassles for both sides of the potential transaction.  However, as Mr. Singer points out, it is possible to pursue a short sale without the payment delinquency.

As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.



For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550

http://MYsouthFLrealestate.com

Referrals are appreciated and welcomed.


Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

Case Shiller Index: June 2012: Sustained US Housing Recovery? Homes For Sale: Homes For Rent

The June 2012 Case-Shiller Home Price Index seems to show signs of a sustained US housing recovery. 

The following is a quote from the report: "We seem to be witnessing exactly what we needed for a sustained recovery; monthly increases coupled with improving annual rates of change. The market may have finally turned around."

The US housing market was up 2.3% on a sequential basis in June 2012 and up 0.5% on a year-over-year basis. 

 

The South Florida housing market continued its positive trends with 1.6% growth on a sequential basis in June 2012 and 4.4% annual growth.  As discussed in previous posts, the inventory levels seems to have decreased during the past three months.  The trend has resulted in more buyer interest in current listings with prices increasing, according to the Case Shiller Index.

 

Other markets of interest:

 

May-12	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	154.43	2.50%	0.00%
Chicago	113.61	4.60%	-1.70%
Miami	145.62	1.60%	4.40%
Minneapolis	118.74	4.80%	5.70%
New York	163.4	2.10%	-2.10%
Tampa	132.84	1.90%	3.40%
Composite 10	155.02	2.20%	0.10%
Composite 20	142.21	2.30%	0.50%
Source:
S&P Indices
Firserv

 

As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.



For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550

http://MYsouthFLrealestate.com

Referrals are appreciated and welcomed.


Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

More Accurate Housing Data Coming To Florida: Homes For Sale: Homes For Rent

The Palm Beach Post recently posted an article stating Florida will be the first state in the nation to get its own home sales price index; it will be similar to the Case-Shiller Housing Index.  The launch is scheduled for September 2012.

The index will be created by the Florida Realtors and will be released quarterly; the data will go back to 1995.  The index should be an improvement over the Case-Shiller Housing Index, which only includes data for Tampa and South Florida (a combination of Palm Beach, Broward and Dade Counties).

As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.



For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550

http://MYsouthFLrealestate.com

Referrals are appreciated and welcomed.


Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

Is It Better To Buy A Home Right Now Or Rent? Zillow Weighs In: Homes For Sale: Homes For Rent

We have heard a lot about whether it is better to buy than to rent in the current market.  According to Zillow, in three quarters of the United States the break-even point is three (3) years.  In other words the amount of time it takes before owning is  better financially than renting, is three years, on average, in the US-- according to Zillow.

Zillow comments that it is even better for home buyers in the West Palm Beach and Miramar areas on Florida, which sport a break-even point of less than 1 1/2 years.  The Fort Lauderdale area is relatively in-line with the nation's average, at 2.8 years, according to Zillow.

As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.



For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550

http://MYsouthFLrealestate.com

Referrals are appreciated and welcomed.



Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

The Delray Affair

Florida's sunny weather offers the capability for many outdoor activities.  One that is fun for the whole family is The Delray Affair, which is the largest arts and craft festival in the Southeast US. The event takes place along the downtown streets of Delray Beach and stretches 12 city blocks from the Intracoastal to NW 2nd Avenue and two city parks.  The event takes place in early April and admission is free.

As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.



For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550

http://MYsouthFLrealestate.com

Referrals are appreciated and welcomed.


Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

Boston's In Delray Beach

Having lived for a while in Boston and now living in South Florida, I can bring back my days in New England with a visit to Boston's on the Beach in Delray Beach.  The fresh seafood and nostalgic New England decor will bring you to the northeast despite the palm trees and beach front location. 

The restaurant is located at 40 South Ocean Boulevard in Delray Beach.  Stop by, get a drink or a bite to eat and then stroll the beach.  Especially those who are seasonal renters and winter residents will enjoy the atmosphere of the true New England feel and the warm breezes off the ocean.

As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.



For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550

http://MYsouthFLrealestate.com

Referrals are appreciated and welcomed.


Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

Case-Shiller Home Price Index: April 2012: Pricing Decling Seems To Be Slowing: Homes For Sale: Homes For Rent

The Case-Shiller Home Price Index seems to be showing a deceleration of year-over-year price declines.  The Index shows a year-over-year reduction in pricing of 2.2% in April 2012, which compares with a 2.7% decrease for March.  The sequential pricing saw another relatively flat comparison for April 2012, which was in-line with the results for March 2012.

The S&P Chairman commented that April 2012 "finally showed some rising home prices."  The South Florida market actually saw prices increase by 3.2% on a year-over-year basis in April 2012 and by 0.9% sequentially.



Some areas of interest:

Apr-12	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	147.19	0.90%	0.10%
Chicago	103.92	1.10%	-5.60%
Miami	141.33	0.90%	3.20%
Minneapolis	109.84	0.50%	3.80%
New York	157.74	0.10%	-3.80%
Tampa	127.46	1.90%	0.80%
Composite 10	148.4	1.30%	-2.20%
Composite 20	135.8	1.30%	-1.90%
Source:
S&P Indices
Firserv

As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.


For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550

http://MYsouthFLrealestate.com

Referrals are appreciated and welcomed.


Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty