Did you buy a Miami Beach Luxury Condo in the Peak of the Real estate Market? Many Seller s now who where buyers two years ago who purchased a Miami Beach Luxury condo in a building called the Murano Grande Portfolio are now in the market and in Jeopardy of being Foreclosed on. Many of Murano Grande Portfolio unit have spectacular water view , stainless steal appliances, Wrap around balconies, cheery wood floors and its resort style amenities such as Pool, spa, gym, tennis, concierge and 24/7 security and valet parking made this Miami Beach Condo very attractive. When buyers purchased this condo many obtain a ARM mortgage and purchased with the expectations to flip it. A handful of Sellers find themselves in a negative cash flow scenario or have a Vacant unit in the Market. Speculation of an improving economy and a balance Real Estate Market would prove almost impossible to help sellers who bought in the peak of the Real Estate Market.
NAR (the National Association of Realtors) July Report was very optimistic and aimed to motivate buyers to buy.
“Existing-home sales - including single-family, townhomes, condominiums and co-ops – increased 3.1 percent to a seasonally adjusted annual rate¹ of 5.00 million units in July from a downwardly revised level of 4.85 million in June, but are 13.2 percent lower than the 5.76 million-unit pace in July 2007.”
“Lawrence Yun, NAR chief economist, said home prices in some regions could soon increase. “Sales have picked up significantly in several Florida and California markets. Home prices generally follow sales trends after a few months of lag time,” he said. “Still, inventory remains high in many parts of the country and will require time to fully absorb”
IF you bought in the Peak of the Real Estate Market this report would not affect you. It will not bring a pool of home buyers into your front door neither would it directly be the cause of the ringing of your real estate agents cell phone. This report will not increase the showing or give you a better marketing exposure or attract more qualified buyers.
If you bought in the peak of the Real Estate Market your options are very limited. Neither the high paid economist nor the President himself can help you with such a burden. The fact is you purchased at the wrong time and obtain a Bad loan with the expectations to make a quick profit. Now you are faced with negative cash flow and or the very slim ability to break even. You are not alone as inventory increases and foreclosure rates double many sellers like yourself are faced with one of the only last options left.
Short Sales can be one of your last options. IF you are faced with a financial Hardship and a inability to pay your mortgage short sale can be your only option. Short Sales are not easy to approve and require at least 40 hrs of time invested. The short sale packages need to be prepared carefully and presented with a level of un denied commitment that the offer is the best offer the bank will receive. For this reason most Realtors avoid short sale because they demand a lot of time invested and the possibility of a 3 percent commission are very slim. . For more mortgage statistics.
If you bought a Miami Beach Luxury Condo and you are facing financial hardship Give us a call at 305364-0037 we can help negotiate with your lender.
Ready to move to Miami? We have several Miami Homes, Miami Foreclosures, Miami Rentals, Miami luxury foreclosures, Miami Condo foreclosures. Search the Local MLS for Hundreds of Miami Homes and Miami Real Estate. Please contact us for a list Miami homes.
Did you buy a Miami Beach Luxury Condo?
Did you buy a Miami Beach Luxury Condo in the Peak of the Real estate Market? Many Seller s now who where buyers two years ago who purchased a Miami Beach Luxury condo in a building called the Murano Grande Portfolio are now in the market and in Jeopardy of being Foreclosed on. Many of Murano Grande Portfolio unit have spectacular water view , stainless steal appliances, Wrap around balconies, cheery wood floors and its resort style amenities such as Pool, spa, gym, tennis, concierge and 24/7 security and valet parking made this Miami Beach Condo very attractive. When buyers purchased this condo many obtain a ARM mortgage and purchased with the expectations to flip it. A handful of Sellers find themselves in a negative cash flow scenario or have a Vacant unit in the Market. Speculation of an improving economy and a balance Real Estate Market would prove almost impossible to help sellers who bought in the peak of the Real Estate Market.
NAR (the National Association of Realtors) July Report was very optimistic and aimed to motivate buyers to buy.
“Existing-home sales - including single-family, townhomes, condominiums and co-ops – increased 3.1 percent to a seasonally adjusted annual rate¹ of 5.00 million units in July from a downwardly revised level of 4.85 million in June, but are 13.2 percent lower than the 5.76 million-unit pace in July 2007.”
“Lawrence Yun, NAR chief economist, said home prices in some regions could soon increase. “Sales have picked up significantly in several Florida and California markets. Home prices generally follow sales trends after a few months of lag time,” he said. “Still, inventory remains high in many parts of the country and will require time to fully absorb”
IF you bought in the Peak of the Real Estate Market this report would not affect you. It will not bring a pool of home buyers into your front door neither would it directly be the cause of the ringing of your real estate agents cell phone. This report will not increase the showing or give you a better marketing exposure or attract more qualified buyers.
If you bought in the peak of the Real Estate Market your options are very limited. Neither the high paid economist nor the President himself can help you with such a burden. The fact is you purchased at the wrong time and obtain a Bad loan with the expectations to make a quick profit. Now you are faced with negative cash flow and or the very slim ability to break even. You are not alone as inventory increases and foreclosure rates double many sellers like yourself are faced with one of the only last options left.
Short Sales can be one of your last options. IF you are faced with a financial Hardship and a inability to pay your mortgage short sale can be your only option. Short Sales are not easy to approve and require at least 40 hrs of time invested. The short sale packages need to be prepared carefully and presented with a level of un denied commitment that the offer is the best offer the bank will receive. For this reason most Realtors avoid short sale because they demand a lot of time invested and the possibility of a 3 percent commission are very slim. . For more mortgage statistics.
If you bought a Miami Beach Luxury Condo and you are facing financial hardship Give us a call at 305364-0037 we can help negotiate with your lender.
Ready to move to Miami? We have several Miami Homes, Miami Foreclosures, Miami Rentals, Miami luxury foreclosures, Miami Condo foreclosures. Search the Local MLS for Hundreds of Miami Homes and Miami Real Estate. Please contact us for a list Miami homes.
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