Posts Tagged ‘foreclosure’

Understand and Learn Miami Foreclosure Home

December 5, 2008

The best thing about Miami is it is a place of real estate potential. Of course most people already know that and they are taking advantage at the various real estate opportunities in the metro. I think that when it comes to Miami, real estate is equals to gold for some investors. And what better way to find gold that to the least expected places. Have you ever think of investing in Miami foreclosure for a home? Well, if not you should. There are things that we can find very profitable on that type of market. Foreclosure is something every homeowner have been trying to elude and avoid, while it is something that smart home investors are looking and trying to prey for.

Over the years the real estate market not only in Miami but in the whole country suffered a big blow The global financial crisis have hit is in the gut and with that it was a really hart thing to stomach. With everything being down the drain, business-wise some would even recommend people to avoid investing for now. But it is not an option, if you want progress you need to be the one to start things up. Miami is a bright city and I am sure that there real estate investment opportunities everywhere. Now, foreclosure real estate, that is something that can interest you, newly foreclosed homes are sent in to a bidding and with that being an aim, you could get a home for almost half its worth. Good deal, huh?

Some would give you the short sale for the foreclosed homes, but the bidding is where the money is at. It has a lot of real estate opportunities that could benefit you for sure. Market-wise it can be beneficial and can really get you real good deals and good value for your money. So far the great thing about Miami foreclosure real estate is there are good homes to choose from, although you can’t really inspect the house as you bid, it is like getting a box of chocolate because you’ll never know what you’re going to get but the main thing is you like what you will be able to have. Sometimes it can be a harsh market but don’t let it drag you down; sometimes it can get you good homes sometimes it can’t.

The truth is Miami foreclosure homes are easy to spot, there are listings that you can look at and of course you can always attend auctions in where you could find the best investment opportunity for you. It is something that people always looks at and make a case and try to get value on it. You can always proper on it, you just have to know the ropes or better yet ask an expert about some simple steps that can get your feet wet in the market. Always look for the best Miami foreclosure home that would get you started in investing on it.

Jron Magcale


Basic Guide to Buying Fort Lauderdale Foreclosure Real Estate

November 18, 2008

At times people calls for desperate measures when buying a real estate property in Fort  Lauderdale, well there are a market in which you can get a value for your limited money. The Fort Lauderdale foreclosure real estate is something that people should look at. Buying a property in that certain market can be a god idea, actually there are three ways you can buy Fort Lauderdale foreclosures and each one has its own distinct discipline. Like anything else it also has its distinct characteristics in which can be a good thing for your Fort Lauderdale foreclosure real estate hunting.

The 3 ways that you can do on buying Foreclosure real estate:

Pre-foreclosures – it is where you buy directly from a homeowner before the bank forecloses;

Auction – it is where you place a bid, possibly in competition with others;

Real Estate Company – This one is what they call an REO.

The Pre-foreclosures are appealing because they require the least amount of capital, and almost all the information you need is available. You can inspect the house and conduct a title search so you won’t have any surprises. With a Fort Lauderdale pre-foreclosure, the owner signs a deed and gives you the property, it is a pretty much an easy thing but it sure is fast. In return, you acquire the mortgage that comes with it. Plus you have to make the mortgage current by giving the bank any back payments. That is how the pre-foreclosure pretty much work.

Now the Auction, the exact mechanism varies from one state to another. Auctions can be held on courthouse steps, in the county clerk’s office, or in front of the Fort Lauderdale foreclosed house. It is known that auctions also carry the most risk, at the same time; they can also offer the greatest reward. Sometimes you can make as much as 40% on an auction foreclosure. But of course it is imperative that you have to know what you’re doing. In a Fort Lauderdale auction, buyers can’t inspect the home in advance of the auction; they have to pay in cash, usually with a cashier’s check.

Now the REO or the Real Estate Owned properties or represent the third way to buy Fort Lauderdale foreclosures. It is known that REO is least risky in terms of what you’re buying, you get to fully inspect the property, demand a clear title, and the sale can be subject to getting a mortgage. The thing is most banks sell Fort Lauderdale foreclosure properties through a broker. They are considered the safest and also the least financially rewarding of all Fort Lauderdale foreclosure buying options. The downside is that you probably won’t get as good a deal as you would with an auction or dealing directly with homeowners who are in a pre-foreclosure category. But still it can be a good enough  deal for you.

Jron Magcale

Checking In with Investing Miami Commercial Real Estate

November 8, 2008

They say that the Miami commercial real estate is complicated and hard to get your way into it, well personally I think it can be hard but you may be able to survive on it if you know what you are doing. Being aware of what you’re in for. Actually it is not a hard market to ponder as most people thinks, it can be a really different market but can also be a real good and beneficial when the right time comes. First of course, you need to study the Miami commercial property market. This is a bit critical; the commercial field is made up of many different elements, from income producing property, such as apartments, to industrial storage and manufacturing properties. There are a lot of things that one should follow and keep their attention to.

You always want to look at all of the options and then decide if this is what you want to get into versus investing in the stock market, mutual funds, etc. Just because you hear that someone made a fortune in Miami commercial real estate does not mean that you will, so study the market first, before you jump in. There are a lot to learn on the market itself. Remember that one thing that can make you successful on the field is if you can survive in it. You should always know your cash situation to buy Miami commercial property. Generally, most Miami commercial property opportunities will take approximately 20% of the purchase price in a down payment. For most areas that is the rule but with some of the commercial firms that I have asked that is the number that is more common.

Next thing is to know the Miami commercial property inventory, and what is out there. If you are looking to buy a Miami commercial building, how many buildings of the size you want are on the market where you want to be? And, look at the number of buildings that are on the market and vacant, and-or leased. Then look at what the costs of these properties are. For example, an apartment building at $50,000 a unit, or door, may look great until you find out that an adjoining building just sold for $40k a unit. If you are looking for specialty properties, such as a convenience store, a mobile home park, or a self-mini storage complex, see how many are available, and then compare the prices. I t is al most a given that you know these things just for you to be sure.

We should be aware of everything, as in any shopping, comparing properties is just a smart thing to do, and to do this; you have to know the inventory. In all of the above, a good Miami commercial real estate agent will take you through each of these steps. Take your time, don’t get too anxious, and rely on the judgment and opinions of the agent you are working with. It is pretty much important to be patient. All things will go into order if you are careful, Miami commercial real estate is a great business venture, you just have to know which buttons to push,

Jron Magcale

How to Prevent Your Home to be a Sarasota foreclosure Property

November 5, 2008

Every year the competition in Sarasota foreclosure real estate is getting stiffer, a lot of investors trying to catch a big fish in the big pond, well let me give you a bit of info about it. Foreclosure is the legal means that your lender can use to repossess or take over your home. When this happens, you must move out of your house. If your property is worth less than the total amount you owe on your mortgage loan, a deficiency judgment could be pursued. If that happens, you not only lose your home, you also would owe your lender an additional amount. In Sarasota particularly it is a bit of a concern for home owners but don’t frown and lose hope, there are some steps you can do to still survive.

Sarasota foreclosure. And if you follow it the right way, you’ll get the idea on it.
One thing to keep in mind is to not ignore the problem. The further behind you become, the harder it will be to reinstate your loan and the more likely that you will lose your Sarasota home. I think that if you pay attention to the problem there could be solution to it. Ok, you need to contact your lender if you feel that you are having problems, lenders do not want your house. They have options to help borrowers through difficult financial times. That is the time where foreclosure hits. To avoid misunderstanding, you should open and respond all the mail the lender will send your way.

The first notices you receive will offer good information about the Sarasota foreclosure prevention options that can help you weather financial problems. Later mail may include important notice of pending legal action. Your failure to open the mail will not be an excuse in Sarasota foreclosure court. So I suggest that you follow the steps and try to comply with the lenders request. Of course you have your mortgage rights; you should know that because it’s important. Find your loan documents and read them so you know what your lender may do if you can’t make your payments. Learn about the Sarasota foreclosure laws and timeframes in your area.

Also you need to understand all foreclosure preventions options; it is valuable information about foreclosure prevention which is also called loss mitigation options can be found on the internet. When you realize everything up, try to avoid foreclosure prevention companies, remember that you don’t need to pay fees for foreclosure prevention help, you should use that money to pay the mortgage instead. This is pretty much the basic steps that I can give you to avoid your Sarasota home to be in foreclosure. If you pay attention to the details I just gave you you’ll realize that it can help you a lot on making your home safe from being a Sarasota foreclosure property.

Jron Magcale

Selling Your Home Wisely in Miami Foreclosure Market

November 5, 2008

It is really a shock to us all that the surging real estate market from a few years back has taken a back seat and now on the downward spiral. Right now, selling your home in a foreclosure market can be stressful, because you are fishing for buyers in a sea full of foreclosures. It’s a bit hard to make your home the best value. Buyers have many options and they can see the best value. It is not always the home for the lowest price. Your home may be of a better value for a higher price. Let the foreclosure homes help sell your home. Let’s travel to Miami and see how the Miami foreclosure market is weighing the weather. I think that people have been looking on how the market is moving certainly because Miami foreclosure market is one of the markets that people have their eyes focused on.

So, let us look at ways on how you could benefit on Miami foreclosure market, first, price your home competitively towards the market. You should keep in mind that you should price your home correctly from the start, on what it is worth not what you owe. If you overprice your home, your home may sit on the market for long periods. Buyers will wonder what is wrong with your home and may try to low-ball you to see how low you will go. It is a disappointment if you can not get facts straight. The market can really be unpredictable so I say stay in facts with your listing.

Next is you should know your neighborhood, drive around and study all around the other homes and compare, that is what buyers do. Realize that not all Miami foreclosure homes are the same. You do not have to necessarily price your home for thousands of dollars less because of a foreclosure home in your neighborhood. Many Miami foreclosure homes are kept up in very good condition, so I think that you should just stick with your initial plan to avoid having a low value for your home. Remember that you can get a good value if you can be sure of what you do.

Finally, get your house show ready. In a buyers market, there are many options and the showing condition of your home is critical. Ask for help from an agent. Many people, who try to sell their own home, end up using an agent in the end. An agent can give your great selling advice and aggressively market your home so it is not passed over due to all the foreclosures. It is such an advantage to know these facts about your Miami foreclosure market. Selling your home into a foreclosure market can really be a good point to ponder if you are looking to have a good value for your home.

Jron Magcale

Giving You Ideas About Miami Foreclosure Real Estate

October 30, 2008

Well, there are actually a lot of kinds of real estate market in Miami, and if you just pay close attention, you’ll know their worth. People often try to check on which market could be the best, especially when you are trying to have that move into your new business, it is imminent that you have a closer look at any market. Well this article will explain to you exactly the types of Foreclosure that a property may face and exactly how they apply.

Miami foreclosure real estate is one of the newest buzz words in the United States. Homes are being foreclosed on each and every day. What many people do not know is that there are several different types of Miami foreclosure real estate. The mortgage holder can usually initiate foreclosure at a time specified in the mortgage documents; typically some period of time after a default condition occurs. Within the United States and many other countries, several types of foreclosure exist. Two of them namely, by judicial sale and by power of sale are widely used, but other modes of foreclosure are also possible in a few states. Knowing this few points will help you around.

Miami foreclosure real estate by judicial sale, more commonly known as Judicial Foreclosure, is available in every state and required in many, involves the sale of the mortgaged property under the supervision of a court, with the proceeds going first to satisfy the mortgage; then other lien holders; and, finally, the mortgagor/borrower if any proceeds are left. As with all other legal actions, all parties must be notified of the foreclosure, but notification requirements vary significantly from state to state. A judicial decision is announced after pleadings at a hearing in a state or local court. In some fairly rare instances, Miami foreclosures are filed in Federal courts. You should know these because it’ll help you in the long run for sure.

Miami foreclosure real estate by power of sale, which is also allowed by many states if a power of sale clause is included in the mortgage, this process involves the sale of the property by the mortgage holder without court supervision. It is generally more expedient than foreclosure by judicial sale. As in judicial sale, the mortgage holder and other lien holders are respectively first and second claimants to the proceeds from the sale. It is very important to understand your own Miami foreclosure real estate because it can save you once you are in the position of losing your own because of some circumstances. Miami foreclosure real estate can definitely be a great thing to know for you.

Jron Magcale

How to Weather Sarasota Foreclosure Real Estate

October 30, 2008

Well, right now people have been looking on what market they can blossom and falter. Today’s Sarasota real estate foreclosure rate is skyrocketing. There are a lot of ways to fix your real estate problems, and a lot of experts who can help along the way. But, what about the other part of foreclosure you have to deal with? What about the fear, the stress, and the pressures on your job, your family, and your friends. Don’t make hasty decisions based on guilt and fear, which are likely to make you do well-meant, but ill-advised things. Weathering the Sarasota foreclosure real estate is important for you to see what move you can make on improving.

Ok, we all know that Sarasota foreclosure can strike anywhere. Now, find out what your options are before there is a problem. Start fixing the problem before you are actually late on any payments. Many options exist, but if you’re behind on the payments, the early options go away. Look at the property as a thing, and not as your home. You can save thousands of dollars in legal fees and countless hours of stress and panic, all by knowing what your choices are before you need them. Many Sarasota real estate offices, banks, and schools are offering free or low-cost foreclosure classes that outline your choices and what your expectations should be. It is important to be cautious.

If things don’t improve or if something unexpected happen, analyze whether you need expert advice and assistance, or not. If you don’t have the knowledge, desire, or time to solve your dilemma, go get some experts on your team. Even if you decide to take it on alone, there may be times when handing over parts of the process to others who are less emotionally involved, or more knowledgeable, will be a good choice. It is pretty important to be pretty much on the safe side on things.

Well when you are looking at your Sarasota home’s standing, you need to be confident and don’t panic. Always have a straight face and never doubt your self on anything, so that you can get the situation in hand. Even though the Sarasota foreclosure real estate has been getting a bit hotter don’t be alarmed, as long as you are doing the right thing you won’t get in trouble. You should always be keen on what’s happening in your market. Sarasota foreclosure real estate can be a very tricky market, if you don’t want your Sarasota home in there; I suggest that you have to know better.

Jron Magcale

Knowing Your Way on the Miami Foreclosure Real Estate Market

October 22, 2008

Popular thing investing Miami foreclosure real estate is negotiating directly with sellers of Miami foreclosure property. It is known that investors who specialized in buying foreclosures often prefer to purchase these homes before the foreclosure proceedings are final. It is really a smart thing to do because you’ll have the first dibs on it and you can also have a higher chance on having the property goes to you. But of course, there are ways to do that, it is not just an easy thing to do but not as hard you would think as well. Before approaching a seller in distress, consider these factors:

The Length of the Wait

First off, foreclosure proceedings vary from state to state. In states where mortgages are used, home owners can end up staying in the property for almost a year; whereas in states where trust deeds are used, trustee sales give a seller about four months before she needs to vacate. In Miami, it is pretty much the same as other states, so I think keeping this one in mind can be very helpful to you.

Ask the Expert

Almost every state provides for some period of redemption. Well, in Miami this means the seller has an irrevocable right during a certain length of time to cure the default, including paying all foreclosure costs, back interest and missed principal payments, to regain control of the property. Of course, for more information, consult a real estate lawyer. It is important that you talk to an expert, preferably a lawyer on these cases because they would give you important facts about your purchase.

Taking Advantage of the Situation

Well lastly, determine whether you’re the type of person who can easily take advantage of a seller’s misfortune under these circumstances and / or put a family out on the street. Oh, critics will argue it’s just business and sellers deserve what they get, even if it’s five cents on the dollar. Others will feign compassion and trick themselves into believing they are “helping” the home owners avoid further embarrassment, but deep inside yourself, you know that’s not true. It is important to be confident on this because it would be a good take for you to get what you need on Miami foreclosure real estate.

Jron Magcale

Digging In with Miami Foreclosure Real Estate

October 22, 2008

It has really been a good thing to know that there are markets that we can really treat as a good market. Home buyers who want a good deal in real estate invariably think first about pursuing foreclosures. Yes, foreclosure properties in which are according to people who knows about it is like picking cherry out of a tree. Buyers have this picture in their mind of a cute little house, surrounded by a white picket fence that is owned by a widowed mom who fell on hard times, but that scenario is generally far from reality. There are really a lot more than just that. Although there can be a good possibility that we can get a good deal in the foreclosure market it can be a good take of course. Miami foreclosure real estate can be a good pick for this kind of market because of certain things that we tend to have a look at of course.

It has been known that sellers stop making payments for a host of reasons. Few choose to go into foreclosure voluntarily. It’s often an unpredictable result from one of the following reasons such as laid-off, fired or quit job, inability to continue working due to medical reasons, excessive debt and mounting bill obligations, squabbles with co-owner or in some cases divorce and job transfer to another location or state.  Well, in Miami, it has all the same reasons, but the difference is people often look at Miami because they know it is an easy market to move. With the rich resources and of course that location-factor, Miami’s foreclosure market can be another good market to consider sinking our teeth in. In most reasons, Miami is often looked at as a great place to look at real estate possibilities.

So, why not look at Miami foreclosure real estate as an option for your investment. I think personally we can see a lot of difference on the said market if we can be consistent and have that certain push to it. Although it can be a different market to tackle, the end result can be good for you, in the future it can be a really good market but of course the thought of it being a market of potential can be really rewarding if not different. The success rate on ending up with a good investment in Miami foreclosure real estate is really a good point to ponder. Because there are really some changes that can be made, I think that it is wise to keep tabs in looking for a nice market to really invest your energy and time with. Some might argue that it can be in a good path, some might look at it differently but the point is, Miami foreclosure real estate can be a good choice.

Jron Magcale

Options a Plenty with Miami Foreclosure Real Estate

October 17, 2008

I think that when it comes to real estate investment we all should be looking to some possibilities that we can use enable for us to get the advantage that we can always use. Right now let us face the fact that we are rowing our boat on a slow stream. With loan delinquencies increasing, Miami foreclosures are surging. And as home prices sink, owners find that they owe more than their property is worth. T is a given fact that we all should look at. Miami foreclosure real estate has really hit it in a high note for sure. One of the options owners in default can use to help them with the long view financially is a so-called “short sale”, an agreement by a lender to accept less than it is owed. It has become normal to have that kind of sales nowadays because of the overwhelming foreclosure rate in properties.

Scores of homeowners in Miami and across the country may be faced with a scenario like this: A couple bought a dream home for $450,000 two years ago. They put 10 percent down, paid for their closing and all other purchase expenses out of pocket and took out a mortgage for $405,000. A common thing I suppose, that is really been mostly the case. Now ready to sell? Say, because of a layoff that makes them unable to keep up with mortgage payments, they put the house on the market. But with the housing market now retreating from its most recent price boom, none of the offers exceeds $360,000, much less than the couple owes the bank.

But rather than suffering through another Miami foreclosure, the owners could approach the lender about a short sale. The lender’s motivation to accept is driven by the desire to cut its losses, which escalate if it needs to take back the house and resell it at auction. The lender then can write off the difference. So that is how short sale works in perspective. With the increasing movement of the foreclosure rate in Miami, a short sale is almost a common thing; it has been something that more investors are looking at to make sure that at least they get some value of their home. Miami foreclosure real estate has been some kind of a fast draw for most owners clearly because they are forced to make a choice.

It is really a bold move on the contrary in most part as Miami foreclosure real estate can be a good option for those who are looking for a new home but have limited budget. Short sale or foreclosure market has been almost an everyday treat. I think judging on the flow of the real estate market everywhere, it is safe to say that there can be changes that we ought to see in the future, what makes it real hard to look at is that Miami foreclosure real estate has been sort of a saver for most investor while in fact it can be just another option in the long haul.

Jron Magcale