Bria J. Toulemonde, CDPE

If you are struggling to make mortgage payments, you may be considering a loan modification as a means to avoid foreclosure. A loan modification makes it easier for borrowers to satisfy their obligation to their lender by lowering monthly payments. Payments are lowered by reducing the interest rate and extending the length of the loan. Loan modification does not lower the amount of the loan.

A loan modification will impact your credit rating, but far less than a foreclosure, deed-in-lieu (DIL) or short sale. The three big credit bureaus (Equifax, Experian and TransUnion) allow lenders to designate a loan modification as "partial payment" - a status that can lower your credit score by 50 or more points.

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Are you or someone you love facing foreclosure? As a Certified Distressed Property Expert (CDPE), I can offer hope and help. Call me today. 305.851.5910

In an effort to boost the real estate market, more and more programs have become available to assist first time home buyers. Programs exist at the Federal, State and local levels.

If you are a first time home buyer looking to purchase property in Miami Beach, you may be eligible for the Miami Beach First-Time Home Buyer Assistance Program.

The program offers low- or no-interest loans or grants for down payment or closing cost assistance.

Home Buyer Qualifications:

-Must be a first time home buyer or have not owned property for past 3 years

-Satisfactory credit history

-Steady employment or income

-Income limit is set at $78,260 for a family of four

-Additional assistance may be available to lower income families

Property Eligibility:

-Property must be in Miami Beach

-Property price may not exceed $326,000

For more information on this and other programs available to first-time home buyers, call me at 305.851.5910. For over 16 years I've helped people prosper through real estate. I'd love to help you too!

Bria Toulemonde, CDPE

South Beach Investment Realty

305.851.5910

The $8,000 Federal First Time Home Buyer Tax Credit has been getting a lot of buzz, but did you know that there are other great programs at the state and local levels available to home buyers? Program offerings range from zero-interest loans to grants to specialized mortgage programs.

You may qualify for down payment and/or closing cost assistance if you:

-are purchasing your first home.

-are a senior citizen

-are disabled

-are a vetran

-are considering purchasing a foreclosure for a primary residence

-are considering purchasing a property in an underdeveloped or neglected geographic area

To take advantage of these programs, both the property and purchaser must meet certain requirements. Most programs require some or all of the following criteria:

-the property must be purchased as a primary residence

-the property purchase price may not exceed a certain amount

-the property must be located within specific geographic boundaries

-the purchaser must be a first time home buyer OR purchaser has not owned property for the past 3 years

-the purchaser's income does not exceed a certain amount

To learn more about the programs available in Miami-Dade County, click here.

Looking to buy, sell or rent in Miami Beach or the surrounding area? Call me at 305.851.5910. For over 16 years I've helped people find the places they love to call home. I'd love to help you too!

Miami Beach’s LINCOLN WEST neighborhood is bordered by 17th Street (Venetian Causeway) to the North, 14th Street to the South, Alton Road to the East and the Bay of Biscayne to the West. An enclave for locals and part-timers seeking a quiet retreat, the neighborhood offers many housing options with varying community lifestyles and amenities.

Residents enjoy both the stunning views of the BAY OF BISCAYNE and DOWNTOWN MIAMI SKYLINE and the convenience of being located a few short blocks from the bustle of LINCOLN ROAD shopping, dining and entertainment. From the ultra luxurious CAPRI, to the vibrant FLAMINGO SOUTH BEACH to the more modest mid-rise condominiums, homebuyers are sure to find a place to call home that fits both their lifestyle and their budget.

Following are sales statistics for the LINCOLN WEST neighborhood for the first half of 2009:

29 units sold between January 1st and June 30th 2009.

14 (45%) of the total units sold were distressed properties (short sales and bank-owned foreclosures).

On average, units sold within 10% of their list price after an average of 127 days on market.

ALL INVENTORY

Average List Price: $289,353.45 / $306.90/sf.

Average Sold Price: $254,113.83 / $269.65/sf.

% Difference: 10.8%

Average Days on Mkt.: 127

CONVENTIONAL INVENTORY

Average List Price: $303,553.06 / $316.40/sf.

Average Sold Price: $263,743.75 / $276.55/sf.

% Difference: 13%

Average Days on Mkt: 95

DISTRESSED INVENTORY

Average List Price: $271,877.00 / $295.20/sf.

Average Sold Price: $242,261.62 / $261.16/sf.

% Difference: 11%

Average Days on Mkt.: 144

Interested in buying, selling or renting in the LINCOLN WEST neighborhood? Call me at 305.851.5910. For over 16 years I’ve helped people prosper through real estate, I’d love to help you too!

Miami Beach’s LINCOLN WEST neighborhood is bordered by 17th Street (Venetian Causeway) to the North, 14th Street to the South, Alton Road to the East and the Bay of Biscayne to the West. An enclave for locals and part-timers seeking a quiet retreat, the neighborhood offers many housing options with varying community lifestyles and amenities.

Residents enjoy both the stunning views of the BAY OF BISCAYNE and DOWNTOWN MIAMI SKYLINE and the convenience of being located a few short blocks from the bustle of LINCOLN ROAD shopping, dining and entertainment. From the ultra luxurious CAPRI, to the vibrant FLAMINGO SOUTH BEACH to the more modest mid-rise condominiums, homebuyers are sure to find a place to call home that fits both their lifestyle and their budget.

Home prices range from the mid-$100s to over $5 million. Rental rates range between $800 to over $10,000 per month.

Interested in learning more about the LINCOLN WEST neighborhood and exploring options for sale or rent? Call me at 305.851.5910. I’ll help you find the perfect place to call home!