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Military Short Sales Gain Momentum With National Mortgage Settlement Act Help (Virginia Beach and Hampton Roads Real Estate)

Friday, November 30th, 2012


Virginia Beach, VA (PRWEB) November 28, 2012

Military Short Sales may be possible for Virginia Beach and nation-wide service members using the National Mortgage Settlement Act. The Act contains a number of provisions to protect military members rights and provide other significant benefits. Fannie and Freddie short sales are already in place – read here.

Virginia Beach Military Home Owners Should Read About the Act and Eligibility here.

Many Military Home Owners were not eligible for HAP (which is now officially done) Read below:

PCS orders: Under the Department of Defenses Homeowners Assistance Program (HAP), certain service members who are forced to sell their home at a specified loss due to a Permanent Change in Station (PCS) may be partially compensated for the loss. However, under the governing statute for HAP, only certain PCS service members are eligible for benefits. Under this settlement, all of the participating servicers will provide mandatory short sale agreements and deficiency waivers to certain service members who are currently ineligible for HAP.

Veterans Housing Benefit Program: $ 10 million will be paid into the Veterans Housing Benefit Program Fund through which the Department of Veterans Affairs guarantees loans provided on favorable terms to eligible veterans. In addition, many veterans with VA-guaranteed mortgages will be eligible for relief provided through the servicers $ 20 billion consumer relief obligations.

Will military short sales affect credit scores – yes but very minimal if current on mortgage. Read more about short sale and credit here.

Dennis Blackmore is a Retired Naval Officer REALTOR(R)/Agent Owner with Creed Realty Virginia Beach, VA. He serves the local military community with both purchases and sales of real estate.







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Fear and Loathing and Short Sales by Short Sale Expert Melanie Riekena Launches Today as a Free Download on Amazon.com

Thursday, November 22nd, 2012


Nashville, TN (PRWEB) November 20, 2012

Fear and Loathing and Short Sales, launches today on Amazon.com, bringing a wealth of understanding and instruction to real estate professionals seeking to gain a working knowledge of the short sale process to better help their clients. Written by short sale expert Melanie Riekena, Fear and Loathing and Short Sales is meant to be a user-friendly manual that de-mystifies one of the industrys most important processes. The book is available as a free Kindle download through Amazon.com today through Saturday, November 24.

Short sales, long considered a source of trouble among many real estate agents, is an integral part of the industry. Widespread misunderstanding and inadequate training have kept many real estate professionals from adding it to their portfolio of services. Riekena hopes to clarify the process through her book.

According to Riekena, the more capable the real estate agent is when it comes to negotiating mortgage settlements, the better he or she can best serve their clients, and experience the much higher profits and increased market share they deserve.

I wrote this book to help real estate agents understand and approach short sales in a way that makes them successful doing them. When properly understood, they really arent as daunting as some industry professionals might expect, Riekena says. By niche-ing themselves to assist with short sales, they will experience almost instant elevation in their desirability and profits.

Fear and Loathing and the Short Sale is written in a conversational tone that incorporates anecdotes and common-sense answers to questions surrounding the short sale process. Riekena aims to clear up the bewildering short sale process and encourage real estate agents to reject any preconceived notion that negotiating mortgage settlements is beyond the scope of their licenses.

For almost 20 years, Riekena and a team of professionals have helped thousands of clients settle defaulted or imminently defaulting home loans, earning herself a reputation as a master of the short sale. And although she enjoyed her success and accomplishments as one of a small percentage of real estate pros with the knowledge and experience to work in this under-served sub-market, Riekena was frustrated to find so many colleagues intimidated by short sales practices.

I have wanted to write this book for a long time so I could share my knowledge in a way that would put their fears to rest, she says. I see a sincere concern and desire on the part of many real estate agents to assist the public who so desperately need their help.

Due to a lack of input from the field of Loss Mitigation and Default Servicing, real estate agent training often omitted entire short sale subject matter that is critical to the agents success.

Riekenas book offers down-earth advice, written with the loss mitigation perspective that is missing in todays real estate industry. Her observations of short sales practices in the U.S. have resulted in a common-sense manual for realtors wishing to master this skill.

In order to be successful and offer the highest level of service, agents have to learn new skills and adopt new ways of operating within the industry at a time when so many families are struggling financially, Riekena says. Since the housing crash began in 2008, followed by epidemic levels of foreclosures, the real estate and finance industries have faced unprecedented demands to work together, where historically such collaboration was virtually non-existent.

Because of this, the unofficial short sale success rate is at best – only 28 percent and some estimates have been as low as one-in-twenty, or 5% that succeed.

Short sales are associated with extra work, elevated risk of failure, and reduced pay on many of the transactions that close successfully; hence the nationwide fear and loathing they provoke, according to Riekena.

Fear and Loathing and the Short Sale is Riekenas contribution to the short sale conversation, something she says she wanted to leave for real estate agents who are referring business away, and for consumers who need their agents to be highly qualified to do short sales.

Its never been more important for real estate agents to grasp these learnable skills, and they have to start by rejecting the idea that short sales and a high rate of failure must unavoidably go hand in hand, she says.

Fear and Loathing and the Short Sale will remain available as a free Amazon.com Kindle download through November 24.

For more information, or to download the book to Kindle, go to Amazon.com/ Fear-Loathing-Short-Sales-ebook, or visit the Fear and Loathing and Short Sales Facebook page.

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Midtown Miami Launches Sales of 300+ Condos in 4 Midtown

Sunday, September 23rd, 2012

Miami, FL (PRWEB) September 23, 2012

With demand at its highest to purchase a condo in Midtown Miami, Gold Krown Financial, owner of more than 475 residences within the 56-acre lifestyle neighborhood, announced today the launch of sales of 304 units in 4 Midtown. The commencement of sales follows on the heels of 2 Midtowns success, with the majority of its residential units sold within five months.

Introducing a new, luxurious feel to 4 Midtown, the common areas will get a facelift to appeal to the discerning buyer looking for a sophisticated ambience. To be designed by the dynamic duo of Shannon Scott and Raymond Jimenez of RS3 Innovative Architectural Design, renovations are set to begin in within the next 60 days to the lobby, the expansive rooftop pool deck and fitness center overlooking the pool. RS3 is also behind the upgrades currently in progress at Ocean Drive Magazines headquarters in Miami Beach.

New common area features include a redesigned lobby interior complete with hubs for socializing, creating comfortable enclosed areas adorned with teak woodwork, a blend of modernand transitional furniture and warm tones with pops of color that add a playful flair to the inviting rooms. Updates to the pool incorporate LED lighting effects in the water and within the metal architectural structure at the edge of the deck that will be seen from Biscayne Bay and the surrounding area. New lounge chairs and fresh landscaping will also add an extra touch of luxury to the pool.

Offering buyers a metropolitan experience with residences over retail, 4 Midtowns units are well appointed with Italian kitchens, custom cabinetry and stone countertops, high-end energy-efficient appliance packages, and master baths equipped with ceramic flooring and modern fixtures. The upscale residences also provide floor-to-ceiling impact resistant windows, spacious walk-in closets and generous private terraces.

Units range from 638 square feet to 1,842 square feet, with penthouses up to 3,557 square feet, and are priced from $ 231,900 to $ 2,367,900. Fortune International continues to serve as the exclusive firm to lead the sales and marketing efforts.

The momentum generated from the sales success at 2 Midtown has created the perfect platform to dramatically expand the number of condos available to buyers, who see the ongoing growth potential and long-term value in this area, said Ron Krongold, managing partner of Gold Krown Financial. The time is ripe to market the last selection of condos in Midtown.

In a neighborhood infused with art and culture, 4 Midtown was artfully designed by Nichols, Brosch, Wurst, Wolfe & Associates and completed in late 2007. The 398-unit, mixed-use tower soars 32 stories and offers a diverse architectural palette of 42 varying floor plans in studios, one-bedroom, two- bedroom, live/work and loft-style units and penthouses. Residents have access to a gym, hot tub, sauna, and steam room, valet, 24-hour security, concierge, private storage facilities, garage parking and ground-level retail with restaurants that offer regular food delivery,

It is advantageous for buyers to purchase in Midtown due to its attractive pricing, spacious units and all the amenities offered, said Edgardo Defortuna, president and CEO of Fortune International. The neighborhood continues to evolve and grow, bringing tremendous value to living in the area.

The renovations to the common areas will add an upscale touch to living at Midtown and will transform the tower into a social gathering place that is sleek and contemporary in design, added Sam Beznos, principal of Beztak Companies, a partner in Gold Krown Financial.

Midtown Miamis amenities enhance the vibrant destination, with a wide selection of nearly 60 boutiques, retail stores, art galleries and popular restaurants and casual eateries. Outdoor spaces, an art park, sculptures and art installations, and meandering sidewalks make this pet-friendly environment a true neighborhood to call home. Centrally located near downtown andadjacent to the Wynwood and Design districts, Midtown Miami is surrounded bycultural and entertainment venues and ultra-luxury retailers such as Cartier and Louis Vuitton. It is less than five minutes from Miami Beach and is in close proximity to I-95, offering direct access to the Port of Miami and major international airports.

The Sales Center, located at 3449 NE 1st Avenue, Unit #L-35, is open Monday through Friday from 10 a.m. to 6 p.m., and Saturday and Sunday from 11 a.m. to 5 p.m. For more information, call (888) 355-1780 or visit http://www.midtownmiamiresidences.com. Join us on Facebook at http://www.facebook.com/midtownmiamiresidences or follow us on Twitter at @Midtown_Mia.

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About Midtown Miami

Midtown Miami is a $ 2.3 billion lifestyle neighborhood located in Miami. At the heart is the residential tower of 4 Midtown, offering superior features, ground-floor retail and an ambience that celebrates all of the amenities and conveniences of city life within an intimate, yet bustling art and culturally-enriched community. Residents can enjoy impeccable weather and sweeping ocean and city views, relax, eat or stroll through boutiques within feet from their front doors, and experience Miamis urban core. Midtown Miami features approximately 1,000 residences within high-rise towers, mid-rises and a mews, with sidewalks meandering through the neighborhoods shops, restaurants and residences.

About Gold Krown Financial

Miami-based Gold Krown Financial, a partnership between seasoned real estate executives with more than 30 years of experience working together on various business ventures in South Florida and throughout United States, owns more than 475 residential units in Midtown Miami within three towers. Led by Gold Krown managing partner M. Ronald Krongold, the partnership includes Sam Beznos, principal of the Beztak Companies, Gary Goldbloom, principal of MG Investments, and Jeb Bush Jr. of Bush Holdings Financial.

About Fortune International

Founded by Edgardo Defortuna, Fortune International has raised the bar in high-end real estate throughout South Florida since 1983. In its brokerage division, Fortune boasts more than 1000 realtors and 11 offices from Key Biscayne to Weston, and numerous international affiliates. In addition, Fortune International is the developer’s choice for exclusive on-site sales, having represented some of South Florida’s most successful projects with thousands of sales to date. The name Fortune International is synonymous with excellence and an unwavering commitment to quality and customer service in the world of luxury real estate. http://www.fortune-network.com.







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The Top 3 Luxury Mega-Listings and Sales in Miami Beach Condos 2012: Welcome to the 20-Million-Dollar Club

Monday, September 3rd, 2012

Article by Condoblackbook

Just as the heat is making temperatures soar, the luxury Miami Beach condos for sale market has been picking up on the trend, and bolder price tags have created record-breaking sales.

The latest talk of the town is the Setai Miami Beach three-story penthouse that went for a sensational $ 21.5 million, which was, in fact, a considerable discount from its $ 27 million asking price. Nonetheless, this ocean front, three bedrooms, two-and-a-half baths, Thai-inspired home is not the only success story of the year. Coming in at second place as the most expensive Miami Beach condo sale, is the oceanfront, five bedrooms, five-and-a-half baths, two-story Continuum on South Beach penthouse. This luxury condo in the sky went for $ 16.2 million, from an initial asking price of $ 17 million. Following closely on its heels was another three-story Continuum penthouse that sold out for $ 15.75 million, after an initial asking price of $ 19.5 million.

However, those who lost out on grabbing their fair share of stellar Miami Beach condos should not feel disappointed as there are plenty of other properties worthy of consideration, of which we’re featuring the top three. The top contender on our list of most expensive listings for 2012 is a Continuum on South Beach, oceanfront penthouse, spread across four levels, with an asking price of $ 39 million. This luxury residence offers panoramic views of the city and ocean and stands located in the only privately gated resort development in South Beach. Over 1200 sq. ft. of beachfront cabana and guest suites, 11,000 sq. ft. of plush interiors, over 6,000 sq. ft. of rooftop pool and deck along with other signature Continuum amenities makes it one of the most sought after Miami Beach condos.

Next in line is the Continuum South Tower private duplex, listed for a cool $ 35 million. This exquisite residence combines the floor space of three units, making it a king in terms of square footage. Touch panels, exclusive custom lighting, private beach pavilion, foyer entry and much more makes it a true work of art that is meant to take indulgence to the next level. Last, but not the least is the ocean-facing, 1500 Ocean Drive penthouse listed for $ 25 million. With five bedrooms and seven baths spread across 8,400 sq. ft. of utter luxury, 7,000 sq. ft. of deck, spa, rooftop and outdoor space as well as a driftwood color palette for a touch of warmth, this penthouse would make quite the purchase considering it is also the only one with a movie theatre in all of South Beach.

About the Author

Sep Niakan is the Real Estate licensed broker. This time he is writing about Miami Beach Condos and Miami Beach Condos for Sale. He is running Real Estate Business from last few years. To know more about Condos click here.

Use and distribution of this article is subject to our Publisher Guidelines
whereby the original author’s information and copyright must be included.

Sep Niakan is the Real Estate licensed broker. This time he is writing about Miami Beach Condos and Miami Beach Condos for Sale. He is running Real Estate Business from last few years. To know more about Condos click here.












Use and distribution of this article is subject to our Publisher Guidelines
whereby the original author’s information and copyright must be included.

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