Claudio Rivero

Miami real estate market has had a great number of home owners who no longer can afford to pay on their mortgage. Once you are faced with this problem most people throw up their hands and stop paying on their mortgage. If you are one of those people or if you know someone who is in this situation please read on. There is a program currently in place called a HAFA Short Sale. This Stands for the Homeowner Affordable Foreclosure Alternative program. This is a benefit to a distressed seller for the following reasons.

When you sell the home, the bank cant ask you to come to closing with money to make the short sale go through. Most banks now are requiring some good faith money for them to accept a short sale. This can range anywhere from $500 to Signing a promissory not to pay a portion of the balance of the mortgage for 20 to 30 years. With the HAFFA short sale there is no concern as you do not have to pay these fees.

The Second benefit of this program is the seller will be paid $3,000 at closing for moving costs. This is much better than having to pay the bank to make the deal go through.

Here are some Qualifiations for the Borrower

· The property must be the borrower's principal residence.

· The loan was originated on or before Jan. 1, 2009.

· The loan is delinquent or a default is reasonably foreseeable.

· The unpaid balance on the mortgage is less than $729,750 (higher for two-to-four unit properties).

· The total monthly mortgage payment exceeds 31 percent of a borrower's gross income.

For properties that qualify under HAFA rules, real estate licensees and brokers must adhere to the following limitations:

· There can be no agreements to share any portion of a commission after the deal closes to the buyer or seller. This negates any form of commission rebate offered by some licensees.

· The transaction must be "arm's length," meaning the buyer, seller and Realtor cannot have a personal or familial relationship.

· A real estate licensee cannot earn a commission through the sale of his or her own house.

· A buyer must agree to not resell the home within 90 calendar days.

• A seller cannot have any expectation of buying or renting the property back after the sale

If you need more information on this program or if you are looking to buy or sell Miami Real Estate you can log on to www.miamiforeclosurelifeline.com

Thank You,

CLaudio Rivero

South Florida Brokers & Associates

786-942-1194 direct 786-220-4034 Foreclosure hotline

www.miamihomevaluetrend.com (Free monthly report on your property value!!)

www.miamiforeclosurelifeline.com ( Information to avoid foreclosure or short selling)

www.miamirentseekers.com ( Free list of rentals)

www.claudiorivero.com (Free list of Luxury and Foreclosure listings)

www.findmiamibeachcondo.com (Free list of condos)

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Did you know that if you sell your house after 2012 you will pay a 3.8% sales tax on it? That's $3,800 on a $100,000 home etc. When did this happen? It's in the healthcare bill. Just thought you should know. SALES TAX TO GO INTO EFFECT 2013 (Part of HC Bill) REAL ESTATE SALES TAX So, this is "change you can believe in"? Under the new health care bill - did you know that all real estate transactions will be subject to a 3.8% Sales Tax? The bulk of these new taxes don't kick in until 2013 (presumably after obama's re-election). You can thank Nancy, Harry and Barack and your local Democrat Congressman for this one. If you sell your $400,000 home, there will be a $15,200 tax. This bill is set to screw the retiring generation who often downsize their homes. Is this Hope & Change great or what? Does this stuff makes your November and 2012 votes more important? Oh, you weren't aware this was in the obamacare bill? Guess what, you aren't alone. There are more than a few members of Congress that aren't aware of it either (result of clandestine midnight voting for huge bills they've never read). AND, there are a few other surprises lurking. Why am I sending you this? The same reason I hope you forward this to every single person in your address book. People have the right to know the truth because an election is coming in November!

Claudio Rivero

South Florida Brokers & Associates

786-942-1194

www.claudiorivero.com

www.miamiforeclosurelifeline.com

www.findmiamibeachcondo.com

for a free market report to find out your home or condo value log on to

www.miamirealsetatetrends.com

In support of the housing market and pending deals nationwide, the House and Senate have pushed through a three-month closing extension for the homebuyer tax credit. The bill now goes to President Obama to be signed. Here are some of the details as reported by Reuters late last night:

·Homebuyers with contracts signed by April 30 who failed to go to closing by the June 30 deadline will now have until September 30 to complete their purchases

·These tax credits include $8,000 for first time homebuyers and $6,500 credit for others purchasing a new primary residence

This is a strong measure to assist the housing market, as the disappearance of these incentives (or buyers running out of time) have contributed to a recent fall in home sales. CDPEs know that this also means the sustainability of options for their distressed sellers. Regardless of politics, real estate agents assisting struggling homeowners know this fact: more buyers = more options and a more competitive marketplace. There's a terrific opportunity for agents to take advantage of this news and help those in need.

Claudio Rivero
South Florida Brokers & Associates
786-942-1194
www.claudiorivero.com
www.miamihomevaluetrend.com (free market report)
www.miamiforeclosurelifeline.com (free information for distressed sales)
www.findmiamibeachcondo.com (free market search for condos)

The Miami real estate market continues to strengthen as a result of increased sales and stabilizing home prices. In the Miami Metropolitan Statistical Area (MSA), there was a 59 percent increase in condominium sales in August compared to August 2009 and a 77 percent increase compared to two years ago, according to the MIAMI Association of REALTORS and the Southeast Florida Multiple Listing Service (SEFMLS).

The sales of existing single-family homes in the Miami MSA increased 12 percent in August compared to August 2009 and were 36 percent higher than they were in August 2008. The Miami real estate market experienced rising residential sales since August 2008, posting increases for 23 consecutive months. After dipping slightly last month, single-family home sales are again reflecting healthy gains, while condominium sales continue to increase significantly.

"We are encouraged by the fact that the sales of both single-family homes and condominiums are increasing," said Jack H. Levine, 2010 Chairman of the Board of the MIAMI Association of REALTORS. "Home prices continue to stabilize, but the substantial presence of distressed properties in our market is contributing to fluctuations in median sales price levels. Still, the evident demand for South Florida real estate is definitely a positive sign."

Statewide sales increased 22 percent for condominiums and one percent for single-family homes.
Nationally, sales of existing single-family homes, townhomes, condominiums, and co-ops rose 7.6 percent from July, but remain 19 percent below August 2009, according to the National Association of Realtors (NAR).

If you or someone you know are looking for a condo and want to take advanage of the miami real estate market long on to www.findmiamibeachcondo and register today for your free list.


Claudio Rivero
South Florida Brokers & Associates
786-942-1194
www.claudiorivero.com
www.miamiforeclosurelifeline.com
www.findmiamibeachcondo.com

I am writing this post to inform downtown residents of a fun Greek festival that will be tking place at the Saint Sophia Orthodox Cathedral located at 2401 SW 3rd ave. The festival is taking place on February 22 through the 24th. There is sure to be great food and entertainment. I saw the banners on the way home to my condo and the One Miami.

If you would like more info anbout the fesitval you can log on the site for the church at

http://www.saintsophiagreekfestival.com/

It looks like a lot of fun for everyone. Hope to see you all there.

Thanks

Claudio Rivero

786-942-1194

www.claudiorivero.com