mendozaagency
12 posts
HOLIDAY HAPPENINGS IN PALM BEACH AND BROWARD COUNTIES

Looking for some fun holiday events to enjoy between now and the end of the month? Here are some to consider… Santa at the Galleria Mall It wouldn't be Christmas without a visit to the big man himself, Santa Claus. The Galleria Mall in Fort Lauderdale has Santa set up on the upper level of the mall, waiting to talk and take pictures with your children. Santa, with his real...

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INSIGHTS INTO SOUTH FLORIDA’S REAL ESTATE LIFESTYLES

We are always looking for new and better ways to serve South Florida’s Real Estate Market. As luck would have it we have found some ideas that need our undivided attention in order to develop fully. So, we are taking a few weeks to develop some of these exciting ideas! We will let you know when we’ve finished working out the kinks.  In the mean time, why don’t you tell us what...

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INSIGHTS INTO SOUTH FLORIDA’S REAL ESTATE LIFESTYLES

LEST YOU FORGET THE INTERNATIONAL BUYER One of my friends requested that I comment about the Profile of International Home Buyer therefore to satisfy my friend’s request I am providing an update for you regarding International buyers’ purchasing trends. According to the National Association of Realtors, for the period April 2013 through March 2014, the total sales volume from international clients accounted for approximately $92.2 BILLION (A 35 PERCENT SALE INCREASE)...

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STAGING SELLS SHORT SALES AND NON-DISTRESSED PROPERTIES… WHY?

Every real estate property can benefit from staging, no matter the size, whether it is a single-family home, a condo, and even if it is well maintained. The reason for staging is the same reason developers have been doing it for years, which is to receive higher offers and sell the property faster. Staging gives a potential buyer the feeling of a lifestyle while providing a mood that buyers can emotionally respond...

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WHAT IS SHADOW INVENTORY?

“What is Shadow inventory?” you ask? To help you understand what shadow inventory is, I would like to first define some other terms that deal with shadow inventories: Short Sale: is any real estate property in which the proceeds from selling the property will fall short of the balance of debts secured by liens against the property. REO: are properties owned by the mortgage lender after a judicial sale date. Distressed properties: are properties...

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SHORT SALES ARE NOT DO-IT-YOURSELF PROJECTS

A short sale is one real estate transaction where the homeowner and the buyer really need to get help from an experienced agent or attorney. Unfortunately, many home sellers, in their quest to find a Realtor® they can trust, automatically turn to a friend who holds a real estate license, or ask friends, family and/or coworkers for a referral to an agent. Going through a short sale without an expert support team is a...

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TOP 10 ULTRA-LUXURY SHORT SALES & REO’S IN SOUTH FLORIDA

  In the month of April 2014, Florida Realtor’s Market Report showed that single family home short sales and REO’s represented only 10.54% and 16.5%, respectively, of the total number of closed sales in the South Florida market. Concurrently, the market report shows that short sales and REO’s in the condo and townhouse market represented 5.6% and 17.5% of closed sales. This shows there are still a number of distressed sales out there. Speaking...

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IS YOUR SHORT SALE OR TRADITIONAL SALE VACANT? NO PROBLEM, STAGE IT!

Last year, I had the opportunity to work with a client that had two investment properties with underwater mortgages. I was able to get both units under contract right away. Unfortunately, the deal on the unfurnished unit fell through; and that is when the problems began. I was only able to get offers $15,000 BELOW the amount the lender was requesting. After a few months of trying to help my...

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YOU WOULD NOT THINK THE HOUSING MARKET IS HOT…BUT IT IS!

In spite of the great number of foreclosures, home prices in the South Florida area — which comprises of Miami-Dade, Broward and Palm Beach counties — have gone up over the last year.  In fact, South Florida prices are now at May 2004 levels, but they are still nearly 37 percent below the peak of the market in December 2006, according to the S&P/Case-Shiller Home Price Index. According to statistical data collected...

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HISTORY REPEATS, SHORT SALES ARE NO EXCEPTION

Written by: Norka Parodi You do not have to be in real estate to know the meaning of the terms short sales, distressed property, and “underwater” mortgages. Furthermore, most people associate them with the mortgage crisis that began in the mid 2000’s. In reality, short sales are a phenomenon that occurs even during a balanced market. I remember living in Massachusetts in 1990 when I sold my home and was...

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