What’s a Short Sale?

shortsalesIn today’s Miami real estate market it’s impossible to not come across many foreclosures and short sales.  Although the term “short sale” was probably a buzz word a couple of years ago, I still find that I am asked to explain what a short sale is.

A short sale is simply a home that is being sold for less money than is owed to the bank holding the mortgage note.  Because the price is less than is owed to the bank, the bank will have to approve the sales price.  The purchase price will be “short” a certain amount of money, hence the term “short sale.”

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With a Quack, Quack Here

ducklingsWhen I moved to Miami from New York City ten years ago, one of the many things that were new to me were the canals throughout Miami-Dade County.  New York City has no flooding problems, unlike South Florida, where the canals were added many years ago to help with the flooding problems.

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Family Heads Back to South Florida

cold maggie cleaning carIn the past few years there’s been so much talk of people leaving south Florida and heading north.  It seemed that was all I heard a few years back.  But homes have become affordable once again in Miami and surrounding areas.

I read an interesting story of a family who headed to North Dakota lured by the promise of small town life, sweetened by the offer of free land and money to get their home purchase on its way.

It’s been four years since the Tristanis moved and they’re apparently trying to come back to south Florida.  The beautiful weather here is just one of the many reasons.

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Finding a Condo in the Redland

Well, this one’s easy.  You can’t! You can’t find a condo in the Redland because there aren’t any.

So what types of properties can you find in the Redland?  This one’s easy too.  If you’re referring to residential properties, single family homes and a couple of manufactured home parks is all you will find in the Redland.

There are no condominiums here.  No townhomes.  No duplexes.  No apartment buildings.  No multi-family units whatsoever.  I think the closest you’ll get to a multi-family unit is the occasional guest cottage or in-law quarters (permits pulled and not).

The Redland is at the southwest end of unincorporated Miami-Dade (still “Miami” on the letters the post office delivers to us).  It is an agricultural community primarily and because of that, not densely populated.  There’s lots of room to stretch your wings here.  Because of this, the need for anything other than single family residences is non-existent.

There is a hotel(motel?) on Krome avenue in the low 200’s.  I think it has about 15 rooms.  It’s the only one I know of.  I stayed there a couple of nights a few years ago after one of the hurricanes took out our power.

Apart from residential properties, the most common thing you’ll find in the Redland are nurseries as well as acres and acres of crops.  Then, of course, there’s the businesses found mainly on Krome Avenue.  Gas stations, U-picks here and there, small local businesses clustered in small strip malls and more and more nurseries.  But no condos!

Need help finding a home in the Redland?  I know a great real estate professional who can help you out. =)

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Living in the Redland ….perks!

Anon in the Redland

One of the first things I did when I moved to Miami was plant a mango tree. I loved the idea of having something growing in the yard, taking care of it, and later enjoying fruit from it. But when I moved to the Redland to an acre-plus of land I found myself planning for other fruit trees. The property in the Redland already had mangoes, avocadoes, lychees, longan, starfruit, bananas, loquat and various citrus, but I wanted to try some others.

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These articles are not intended to give legal or tax advice, and you should consult your attorney or financial advisor for additional information.

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