Facing Foreclosure, Bank Reimburses Fla. Couple

Facing Foreclosure, Bank Reimburses Fla. Couple
A Fla. couple finally got thousands of dollars in reimbursement from Bank of America by threatening the bank with foreclosure. The long legal battle actually began when the bank wrongly foreclosed on the couple’s home. (June 6)

Property.com Launches as Category-Defining Portal for Massive Commercial and Residential Property Market

eReal Estate Holdings, LLC, owner and operator of Condo.com and Houses.com, today announced the official launch of their third category-defining domain – Property.com (http://www.property.com). This latest addition extends the Company’s online real estate platform into the massive global commercial real estate market.

eReal Estate Holdings, LLC, owner and operator of Condo.com and Houses.com, today announced the official launch of their third category-defining domain – Property.com (http://www.property.com). This latest addition extends the Company’s online real estate platform into the massive global commercial real estate market. Visitors to the site will have easy access to a comprehensive database of property listings including office space, retail properties, multi-family buildings, warehouses, industrial space and land from around the world. Property.com will also include a large database of residential properties, foreclosures and auctions as part of their initial offering. Global market data and property indices, a database of property managers and daily property news will be added in the coming weeks.

The new category domain, combined with seasoned IT professionals, expert management and a proven online real estate platform, positions Property.com to become the leading portal for commercial real estate and other property asset classes. “Our goal of creating a transparent global marketplace for buyers and sellers has not changed. Launching Property.com allows us capitalize on the global search demand for the term “property”, and to leverage the significant investment we’ve made in software development, licensing and people,” stated Richard Swerdlow, CEO of Condo.com, Houses.com and now Property.com.

“The commercial real estate market is massive and rapidly moving online, following the trend set by the residential real estate market over the past few years” stated eReal Estate Holdings, COO, Matt Pluznick. According to a recent report by Jones Lang LaSalle, commercial real estate sales in the U.S. totaled .7 billion in Q2 2011, an 82% increase in sales volume from the previous quarter and a 157% increase compared to Q2 of 2010. The commercial real estate market represents over trillion in the U.S. alone in terms of sales, leases and investment. “Property.com will be a valuable online resource to investors, real estate professionals and others that participate in the global commercial real estate market,” added Pluznick.

About eReal Estate Holdings

eReal Estate Holdings, LLC owns and operates the category-defining portals Property.com, Houses.com and Condo.com – the world’s largest online marketplaces for real estate. The sites showcase over 25 million properties for sale, rent and vacation in the United States and 70+ countries around the world. The sites receive over 1.5 million+ visitors per month and cost-effectively deliver exposure and qualified leads to builders, real estate professionals and homeowners. In addition to property for sale and rent, site visitors have access to a wide variety of real estate-related products and services including mortgages, credit repair, home improvement, moving and more. The Company is privately held and headquartered in Miami, Florida. For more information, please visit Property.com (http://www.property.com), Houses.com (http://www.houses.com) and Condo.com (http://www.condo.com).

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Posted On: Miami, FL November 21, 2011

Miami Condominium Prices Rise for Third Consecutive Month

Sales of existing single-family homes in the Miami Metropolitan Statistical Area (MSA) rose 41 percent in October, from 546 to 769, compared to October 2010, according to the 25,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) systems.

Sales of existing single-family homes in the Miami Metropolitan Statistical Area (MSA) rose 41 percent in October, from 546 to 769, compared to October 2010, according to the 25,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) systems. Sales of existing condominiums increased 63 percent, from 739 to 1,202, compared to October 2010.

Statewide sales increased 13 percent to 13,755 for single-family homes and 12 percent to 6,132 for condominiums compared to October 2010. Nationally, sales of existing single-family homes, townhomes, condominiums, and co-ops rose 1.4 percent from the previous month and were 13.5 percent above October 2010, according to the National Association of Realtors (NAR).

“We are encouraged by the record-breaking performance of the Miami real estate market this year,” said Jack H. Levine, 2011 Chairman of the Board of the MIAMI Association of REALTORS. “Rising demand and limited supply is yielding higher average and median sales prices, and we expect to see double-digit price appreciation in 2012.”

International Buyers Fuel Cash Transactions

The percentage of cash transactions rose to 64 percent, up one percent compared to the previous month. Cash sales accounted for 43 percent of single-family and 77 percent of condominium closings. Nearly 90 percent of international buyers in Florida purchase properties all cash. Nationally, all-cash sales accounted for 29 percent of transactions, reflecting the stronger presence of international buyers in the Miami real estate market.

Condominium Prices Rise Again

The effect of short sales and foreclosures on the median and average sales prices for both single-family homes and condominiums has lessened particularly in some areas of the county. In October, 57 percent of all closed residential sales in Miami-Dade County were distressed, including REOs (bank-owned properties) and short sales, compared to 61 percent in October 2010 and 60 percent the previous month.

In October, the median sales price for condominiums rose for the third consecutive month. The median sales price of condominiums in October increased eight percent to 7,900. The median sales price of single-family homes decreased 12 percent to 4,600 from a year earlier.

“Miami is an enviable position, leading the nation in the real estate market recovery,” said 2011 MIAMI Association of REALTORS Residential President Ralph E. De Martino. “International buyers continue to play a major role in fueling the local market strengthening. Demand for local properties from domestic and foreign buyers will result in the local market outperforming the nation long into the future.”

Statewide median sales prices decreased four percent to 1,200 for single-family homes and increased nine percent to ,800 for condominiums. The national median existing-home price for all housing types was 1,600 in October, down 5.8 percent from October 2010.

The average sales prices for single-family homes in Miami-Dade County increased 6.5 percent, from 6,726 in October 2010 to 2,947 in October 2011. The average sales price for condominiums increased 14.3 percent, from 7,811 in October 2010 to 6,151 last month.

Inventory Continues Sharp Decline

The inventory of residential listings in Miami-Dade County has dropped 38 percent, from 24,501 to 15,127 active listings, in the last year. Compared to the previous month, the total inventory of homes dropped one percent from 15,264. Since August 2008, existing housing inventory has decreased more than 65 percent, down from 43,100.

Total housing inventory nationally fell 2.2 percent to million at the end of October compared to the previous month.

Note: Statistics in this news release may vary depending on reporting dates.

About the MIAMI Association of REALTORS

The MIAMI Association of REALTORS was chartered by the National Association of Realtors in 1920 and is celebrating more than 90 years of service to Realtors, the buying and selling public, and the communities in South Florida. Comprised of four organizations, the Residential Association, the Realtors Commercial Alliance, the Broward County Board of Governors, and the International Council, it represents more than 25,000 real estate professionals in all aspects of real estate sales, marketing, and brokerage. It is the largest local association in the National Association of Realtors, and has partnerships with more than 60 international organizations worldwide. MIAMI’s official website is http://www.miamire.com.

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Posted On: Miami, Florida November 21, 2011

Foreclosure Fraud Again

Foreclosure Fraud Again – Yep, you read it right!

Hey folks, guess what there’s foreclosure fraud again – the financial giants have figured out another way to profit from fraud. Yep, after destroying communities across America with shady subprime loans, the mortgage industry has launched a new assault on our nations neighborhoods with a new foreclosure fraud.

Foreclosure Fraud Again – How?foreclosure fraud

Well, big banks are now outsourcing their foreclosure processing to law firms with a history of breaking the law to make a quick buck. Reports are that these scammers backdate signatures, forge documents, charge thousands of dollars in illegal fees and even foreclose on borrowers who haven’t missed a payment.  Like I said Foreclosure Fraud!

“Foreclosure mills,” as they are now known, have been around for years and they’ve become a huge problem as the mortgage crisis has worsened. It’s my understanding that Fannie Mae and Freddie Mac created a need for these beasts decades ago to help them process large volumes of foreclosures fast and cheap. Not long after big banks wanted in on the action, and Wells Fargo, Citigroup and Bank of America starting sending foreclosures to these lowlife Foreclosure Fraud law firms by the tons.

Foreclosure Fraud – Why?

Banks choose to outsource dirty work to these Foreclosure Fraud firms for a reason. It takes literally weeks to process the  necessary legal paperwork to throw somebody out of their home. Cutting down the processing time can save a lot of money on legal bills. These Foreclosure Fraud mills cut costs by cutting corners. So, when they can’t gather the proper paperwork needed to kick families out of their homes, they simply fabricate it. Even worse, these Foreclosure Fraud firms illegally hold back documentation from borrowers looking to negotiate loan modifications with their banks. In effect, forcing borrowers out of their homes instead of allowing them to negotiate a deal with the bank. When borrowers actually do get things straightened out with these Foreclosure Fraud mills, the underhanded bankers slap them with huge illegal fees. Outrageous!!

If nobody holds anyone accountable, then anything goes: stealing, cheating, and lying, are very profitable. Well, don’t let this happen to you. Fight Back!! I have been helping people successfully ward off foreclosures and maybe I can help you too. I offer a Free No Obligation review of your mortgage documents.  Don’t just rollover, give me a call and take a stand against Foreclosure Fraud.

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