South Florida Luxury Real Estate

I can’t afford my South Florida Home….Should I let it Foreclose?

What’s the Difference between a Short Sale and Foreclosure? Are there any other options?

This is the burning question that many homeowners in South Florida are asking.

Should I just let my home foreclose or is there something that I can do to stop it.  Well there is.  

What is a Deed-In-Lieu of Foreclosure?

This is also known as a friendly foreclosure because the homeowner gives the deed back to the bank.  This prevents the bank from going through the long foreclosure process.  This is something that has to be negotiated with the bank. Normally, servicers require a borrower to make an effort to sell the home through a short sale before they agree to accept a Deed-In-Lieu (DIL).  Deficiency judgment is not pursued. This is normally used in the case of one mortgage and no liens on the property.

I want to keep my home.

“But what if I want to stay in my home”? You ask….. “I’ve tried to get a Loan Modification and the bank keeps turning me down”.  Well, a short sale is not your only choice.  You can ask for a Reinstatement. If your missed payments was due to a temporary hardship and you can now pay your mortgage then you have the option to get your mortgage reinstated right up to the time of the bank sale.

Two ways to get your mortgage reinstated:

(1)    Payment in Full – Pay all missed payments, late fees and legal fees due
(2)    Forbearance or Re-Payment Plan – The lender allows you to pay the missed payments over a period of time – normally this does not reinstate the mortgage until the payment plan is completed (past due amounts paid in full). Payments in the payment plan should NOT be missed!

Should I file for Bankruptcy?

Bankruptcy may stop a foreclosure and allow a homeowner to keep their home after sorting and reorganizing their debt, however if the homeowner is still not able to make payments for the home after the bankruptcy the foreclosure will happen anyway.
A short sale is nearly impossible after bankruptcy proceedings have begun.   Make sure that this is really what you want to do and explore all other options prior to filing for bankruptcy.

What is a Short Sale anyway?

When a borrower is allowed to list and sell their property by the servicer (bank) knowing that the sale proceeds may be less than the amount owed on the mortgage.
Simply put: A borrower owes more on their home than the current market value.
A short sale happens when a negotiation happens between a mortgage company (or companies) and a homeowner to accept less than the full value.

Short sales must be arm’s length transactions.

What are the consequences of doing a short sale vs. a foreclosure?

You can find a detailed chart of the Homeowner Consequences here.

Summary: The Ways to Prevent Foreclosure

Loan Modification: Modify the Original terms of the Loan

Refinance: A New Loan with a reduction in monthly payments

Reinstatement: Bring the loan current

Forbearance: Temporary re-payment plan

Sell the property: Pay difference or use equity to pay off

Rent the property: Loan must be made current

Short Sale: Negotiate with bank to accept sale less than the loan amount

Deed In Lieu of Foreclosure: Friendly Foreclosure

Bankruptcy:  Stalls foreclosure but will not prevent it

As you can see, Foreclosure is not your only option and even if you have received a letter from your mortgage company stating that they are going to foreclose on you there is still time.  Here in South Florida we see more homeowners staying in their home for long periods of time (sometimes over 18 months) before they are foreclosed on, however this is NOT always the case.  

If you have been in your home for a long time without paying your mortgage and feel that it is too late for you, it is not, you have up until the bank sale to do something!

If you are a South Florida Homeowner facing foreclosure living in Broward County and want to list your  home for sale as a Short Sale contact Tiffany today at 954-257-5030. Don’t let time run out on you.

Tiffany L. Young, CDPE – Certified Distressed Property Expert
Short Sale and Pre-Foreclosure Specialist
Serving Residents of Broward County Florida
Specializing in Davie, Weston, Plantation and Southwest Ranches
www.TiffanyLYoung.com

Davie Florida Real Estate - What's Selling & What Sold - Week of November 23rd

What's for Sale in Davie?

There are currently 451 homes listed for sale with a Realtor in Davie Florida.  16 of these Davie homes for sale are REO's (Real Estate Owned) Foreclosures. 109 of these homes for sale in Davie are listed as Short Sales. Click here to find out more on Short Sales.

What Sold in Davie over the past 30 days?

In the past 30 days 43 homes have sold in Davie Florida. 6 of those were Foreclosures and 9 were Short Sales.

Looking to purchase a home in Davie? View all active homes for sale in Davie by clicking on the link below. 

Tiffany L. Young, Realtor®
C: 954-257-5030
Email: tiffany@tiffanylyoung.com
Website: www.tiffanylyoung.com

If you are on the fence about placing your home on the market for sale and wanted to know if the market has stabilized click here to find out what's going on in your neighborhood.

Weston Short Sales and Foreclosures. What's for Sale and What Sold - Week of November 23rd Update

There are currently 298 Active homes for sale in Weston that are listed with a Realtor.  Of these Weston homes for sale - 94 of them are listed as a short sale and only 7 of them are listed as a Foreclosure (REO).

In the past 30 days 52 homes have sold that were listed with a Realtor.  8 of them were a short sale and 10 of them were REO's.

Weston Homeowners, Foreclosure is not your only option.  Consider a Short Sale. If your hardship was temporary, you can still save your home from foreclosure and possibly stay in your home.

Call me today to find out what your options are.

For updated information on what sold and for how much in the Weston Housing Market or to find out current home prices in your neighborhood, Click on the link below for your free market update.

Tiffany L. Young, Realtor®
C: 954-257-5030
Email: tiffany@tiffanylyoung.com
Website: www.tiffanylyoung.com

Wondering if the Housing Market has stabilized in Broward County Florida?

Thinking about buying or selling a home in South Florida and need the most up to date and accurate information to make an informed decision?

Interested in what’s for sale or what sold in your neighborhood?

Want to know where the housing prices are going and what are the current market trends?

For a free market activity report for your street so you can see what the market is doing click on the link below.

Below is a sample of what your South Florida customized market report will look like.

Tiffany L. Young, Realtor®
C: 954-257-5030
Email: tiffany@tiffanylyoung.com
Website: Broward County Property Values

Get your Davie Home Values, Weston Home Values, Plantation Home Values, Southwest Ranches Home Values and other Broward County Property Value report today by clicking on the sample market report above. 

You are just a few clicks away from finding out what's going on in your South Florida neighborhood.

Facing Foreclosure? Florida Homeowners Don't Let Time Run Out on You

If you are facing foreclosure and feel that there is nothing you can do - think again. There are options for people facing foreclosure.  If your missed payments were due to a temporary problem, reinstatement is possible.  In order to reinstate a mortgage you will have to pay all missed payments and late fees and any legal fees that are due up to the point that the loan is reinstated.  A one time payment in full is needed for a simple reinstatement.  If a one time payment is not an option then you can request a repayment plan. There are many other options for you including a short sale, call me today so that I can help you explore the best option for you.

Keep in mind that foreclosures follow you and can negatively affect future mortgage rates, also homeowners that have a foreclosure would have to wait 5-7 years before they would be eligible again for a government insured loan as opposed to 2 years wait when a short sale is done.  It has a negative impact on your credit score - about 300 points or more - and lenders can seek a deficiency judgment against you to recover any money they didn't get in the sale. There is a window of opportunity: Pre-foreclosure - this is a very critical time period for you to do what you can to avoid foreclosure. Call me today for more information at 954-257-5030.

More reasons to avoid foreclosure:

• This is the one credit report item that is almost impossible to have repaired.
• Many employers run credit checks on their prospective employees this can put you in jeopardy for a new job opportunity or a current position.
• You have options! I will help you explore every option and work toward the best resolution for you.
• You must do everything you can! This too will pass: even though it seems overwhelming now, you will feel much better knowing that you did everything you could to avoid this devastating financial consequence that so many people face today.
• Florida Homeowners: Know your options, call me today to discuss the steps you need to take to avoid losing your home to foreclosure.

I am a Real Estate Professional in South Florida helping homeowners facing foreclosure know their options.

I also help buyers looking to purchase Short Sales or foreclosures find their dream homes.

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Tiffany L. Young, Realtor®
C: 954-257-5030
Email: tiffany@tiffanylyoung.com
Website: www.tiffanylyoung.com
Blog: www.southfloridaluxuryrealestateblog.com

Wondering if the South Florida Real Estate market has stabilized? Click here to find out.

Short Sales and Foreclosures in Davie - November 2009

Davie Foreclosures

There are currently 11 Foreclosures (REO's) in Davie for sale listed with a Realtor.  These Davie foreclosures range in price from $72,900 (Park City) to $1,237,500 (Stonebrook Estates).  There are 8 Davie Foreclosures currently pending Sale and there have been 2 Foreclosures sold in Davie in the last 30 days that were listed with a Realtor.

You can view all the active Davie Foreclosures for sale here.

Davie Short Sales

There are currently 66 Short Sales for sale in Davie listed with a Realtor.  These Davie short sales range in price from $69,900 (Carlan Mobile Home Park) to $1,650,000 (Long Lake Ranches).  8 short sales have sold within the past 30 days and there are currently 38 short sales in Davie pending a sale.

To view all active Davie Short Sales click here.

As you can see there is more activity going on with Short Sales in Davie as opposed to Foreclosures. Keep in mind that Short Sales take a much longer time to close than foreclosures and all buyers are not good candidates for Short Sales.  

For more information about the difference between Short Sales and Foreclosures  contact me at 954-257-5030 or send me an email.

If you are facing foreclosure there are options that you can take.  Call me today to see how you can Stop Foreclosure on your home.

To sell your home as a Short Sale, call me today to see if you are a good candidate for a Short Sale.

If you are interested in buying a Davie foreclosure home or Short Sale in Davie call me today for more information.

Click here to find out what's going on in your market this week.

Tiffany L. Young, Realtor®
C: 954-257-5030
Email: tiffany@tiffanylyoung.com
Website: www.tiffanylyoung.com
Blog: www.southfloridaluxuryrealestateblog.com

Weston Luxury Homes For Sale - Weston Florida Real Estate

The following list represents active Weston homes for Sale at or above $1 million.

You may search all Weston Florida homes for Sale below.  Call me for additional information on any property or to set up an appointment to view.

To place your Weston home on the market for sale, call or email me at tiffany@tiffanylyoung.com today.

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Tiffany L. Young, Realtor®
C: 954-257-5030
Email: tiffany@tiffanylyoung.com
Website: www.tiffanylyoung.com
Blog: www.southfloridaluxuryrealestateblog.com

Assisting Buyers and Sellers of Luxury Homes for sale or rent and Relocations, locally and globally in affiliation with Leading Real Estate Companies of the World

If you or someone you know is looking to move to or from the South Florida area, call me today so that I can help you with your relocation.

Visit my website to find out more information about: South Florida Luxury Real Estate, Davie Homes For Sale, Weston Homes For Sale, Plantation Homes For Sale, Southwest Ranches Homes for Sale, Equestrian Community Homes For Sale, Waterfront Homes For Sale, Golf Course Communities, Acreage Homes for sale, Florida Fine Homes, Luxury Waterfront Rentals, New Homes For Sale, Luxury Homes For Sale, Sell Your Luxury Home, Fort Lauderdale Homes for Sale, Buying or Sell a Home in South Florida, Corporate or Professional Athlete Relocations and  Broward County Luxury Homes for sale.

There are 62 active homes for sale in Southwest Ranches listed over $1,000,000.  These luxury homes are listed for sale between $1,049,000 and $12,500,000.

There are 3 Southwest Ranches homes pending sale. In the past 90 days there has been 1 closed sale listed with a Realtor.

Southwest Ranches Luxury communities with homes for sale include:

Landmark Ranch Estates
Sunshine Ranches
Rolling Oaks
Stone Creek
Meadowview Estates

The home that sold in Southwest ranches closed on July 27, 2009.  It was listed at $1,795,000 and the sale price was $1,607,500.  This home was on the market for 126 days before it was sold.

Featured Southwest Ranches Home for Sale:

7 bedrooms, 7 bathrooms, 2 powder rooms
10,721 square feet living area

2.27 acres
4 car-garage
Summer kitchen
Pool with bridge
Library
Wine Room
Separate 2  story pool house with a playroom, media room, gym

(Information obtained from the SE Florida MLS is believed accurate but is not warranted)

For more information on the Luxury home for Sale in Sunshine Ranches email me at tiffany@tiffanylyoung.com or call me at 954-257-5030.

To sell your Southwest Ranches home, please call me today to find out how I can successfully market your Luxury home to real buyers. 

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Tiffany L. Young, Realtor®
EWM Realtors, Inc.
2000 Main Street
Weston, FL 33326
C: 954-257-5030
Email: tiffany@tiffanylyoung.com
Website: www.tiffanylyoung.com
Blog: www.southfloridaluxuryrealestateblog.com

Assisting Buyers and Sellers of Luxury Homes for sale or rent and Relocations, locally and globally in affiliation with Leading Real Estate Companies of the World

If you or someone you know is looking to move to or from the South Florida area, call me today so that I can help you with your relocation.

Visit my website to find out more information about: South Florida Luxury Real Estate, Davie Homes For Sale, Weston Homes For Sale, Plantation Homes For Sale, Southwest Ranches Homes for Sale, Equestrian Community Homes For Sale, Waterfront Homes For Sale, Golf Course Communities, Acreage Homes for sale, Florida Fine Homes, Luxury Waterfront Rentals, New Homes For Sale, Luxury Homes For Sale, Sell Your Luxury Home, Fort Lauderdale Homes for Sale, Buying or Sell a Home in South Florida, Corporate or Professional Athlete Relocations and  Broward County Luxury Homes for sale.

If you are looking for a luxury waterfront home or condo for rent in Broward County there are a few good ones to choose from.  Whether it's a weekly, monthly, or yearly furnished rental, a seasonal furnished rental, or an unfurnished annual rental you can find your dream home.

There are currently 66 luxury waterfront rentals with at least 4,000 square feet of living space.  These Broward County luxury rentals range in price from $3,800 to $25,500 per month. There are other waterfront luxury rentals on the market with less square feet of living space listed at various price points.

If you are looking for a luxury rental on the water and square footage is not of major importance there are even more options for you to choose from.

You can view the available waterfront luxury rentals here.  If there are any properties that you would like more information about, please do not hesitate to call me at 954-257-5030 to set up a showing; or you can email me at tiffany@tiffanylyoung.com.

Featured Luxury Waterfront Rental on Fort Lauderdale Beach

Available for Weekly, Monthly, Seasonal or Annual Rental
Features:
Oceanfront (Overlooking the Atlantic Ocean & Beach)
Ocean view from 3 levels
7 Bedrooms
7 Bathrooms
Pool & Spa
Gas range
Wine Room
Elevator leading to Rooftop Deck & Bedroom Suites
Theater
10,852 square feet

This listing courtesy of Florida Luxury Rentals, Inc.

Tiffany L. Young, Realtor®
EWM Realtors, Inc.
2000 Main Street
Weston, FL 33326
C: 954-257-5030
Email: tiffany@tiffanylyoung.com
Website: Broward County Luxury Homes for Sale and Rent
Blog: Broward Luxury Waterfront Homes

Assisting Buyers and Sellers of Luxury Homes for sale or rent and Relocations, locally and globally in affiliation with Leading Real Estate Companies of the World

If you or someone you know is looking to move to or from the South Florida area, call me today so that I can help you with your relocation.

Visit my website to find out more information about: South Florida Luxury Real Estate, Davie Homes For Sale, Weston Homes For Sale, Plantation Homes For Sale, Southwest Ranches Homes for Sale, Luxury Waterfront Rentals, Equestrian Community Homes For Sale, Waterfront Homes For Sale, Golf Course Communities, Acreage Homes for sale, Florida Fine Homes, New Homes For Sale, Luxury Homes For Sale, Sell Your Luxury Home, Fort Lauderdale Homes for Sale, Buying or Sell a Home in South Florida, Corporate or Professional Athlete Relocations and  Broward County Luxury Homes for sale.

Short Sale home for Sale in Long Lake Ranches West in Davie, Florida.

This 2 story home built in 2007 boasts 6,824 square feet according to tax rolls.  This is the largest model in Long Lake Ranches West (The Renoir - Majestic) and has 6 bedrooms, 7 bathrooms, master suite has a separate sitting area.  It has a circular driveway with a 3 car garage. The huge back patio is perfect for entertaining and boasts a swimming pool with jacuzzi.

Long Lake Ranches West is a guard gated, equestrian community which also has a club house with a swimming pool.

Other features include:
Marble floors downstairs, wood floors upstairs
Fireplace
Marble counter tops
Accordian Hurricane Shutters
Office/Den
Lot is a builder's acre

Listing courtesy of Approved Realty Solutions, Inc.

You must see this beauty for yourself.  This home is a great bargain, now is the time to take advantage of the market downturn.

To schedule an appointment to view this beautiful Long Lake Ranches luxury home for sale call me at 954-257-5030.

This property is listed under market value at $995,000.

To sell your home in Davie begin here.

Tiffany L Young, Realtor

www.TiffanyLYoung.com