Foreclosures in Florida, Miami Real Estate

Miami Dade begin online Florida foreclosure auctions

The county of Miami Dade officially launched online bidding for foreclosures in Florida Monday, in a move that could speed the sale of huge numbers of distressed Miami real estate properties on the market, bringing together bidders from across the globe and launching hopes of an accelerated return to normalcy in the Miami real estate industry.

The new system is managed by RealAuction.com based in Plantation and will completely replace the traditional courthouse procedure. Miami-Dade Clerk of Courts Harvey Ruvin said it is expected to save the county $750,000 per year while cutting out a lot of the paperwork that has weighed down the process. As it tries to balance a backlog of foreclosure cases and a reduced budget, the move comes at a good time for the foreclosure division of Miami-Dade Clerk of Courts office.

Full Article...Foreclosures in Florida, Miami Real Estate

Florida Foreclosure Listings, Miami Real EState

Below you will find a link to a list of 50 Miami homes that have been significantly discounted because they are in some stage of foreclosure process. Our Florida foreclosure listings consist of Miami homes in foreclosure, Miami short sales and distressed properties in Miami. These Miami homes are in various stages of foreclosure such as pre foreclosures and foreclosure auctions. For additional information on any of the Miami homes in foreclosure shown below please call our Miami real estate office at 305-673-3303 to speak with a professional real estate agent.

Click here for.......Free Foreclosure Listings in Miami

Mortgage Fraud, Miami Beach Real Estate

Florida’s Mortgage Fraud Penalties Steepened

The state Senate, in the wake of Florida's real estate downturn and rapid rise in Florida foreclosures, passed a second bill increasing the penalties for those convicted of mortgage fraud.

Not only is the legislation increasing penalties for mortgage fraud but they are also creating a remedy for some of the damage mortgage fraud can inflict on neighborhoods and condominium buildings in the form of higher property taxes.

According to the Federal Bureau of Investigation, Florida has the fastest growing white-collar crime rate in the nation and is a hotbed for real estate fraud...

Complete Article...Mortgage Fraud, Miami Beach real estate

Miami Beach Real Estate, Mortgage Rates

Today’s Mortgage Rates Hit Low Point

Analysts say the 30-year fixed rate mortgage currently sitting at 5.88% is unlikely to fall any further for the rest of the year.

This year the rate on the fixed loans is only down a quarter of a point as the credit markets have cut the link between it and yields on 10-year Treasuries. Even as skittish investors have moved to Treasuries to trim the yields, mortgage lenders have not eased lending standards.

Driving interest rates higher, mortgage rates are likely to close 2008 at about 6% as investors in bonds focus on rising inflation.

Long-term mortgage rates will also increase due to the additional supply of Treasuries as Congress borrows to raise money for the growing federal budget deficit.

Miami Commercial Real Estate News, Miami Hotels

Dubai's Commercial Real Estate Developer buys 50% of Fontainebleau

Nakheel, a giant commercial real estate developer based out of Dubai, announced on Thursday it has bought a 50 percent interest in the Fontainebleau Miami Beach US resort at a cost of 375 million dollars.

In exchange for a 50% interest in the company's iconic Fontainebleau Miami Beach resort, Nakheel has invested 375 million dollars with Fontainebleau Resorts LLC, a privately-held Las Vegas-based resort developer, reported the APR on April 10^th, 2008.

With a spectacular 500 million dollars in renovation, the business unit of Nakheel, Nakheel Hotels, will re-create the legendary Fontainebleau Miami Beach in partnership with Fontainebleau Resorts.

Full article.....Miami Commercial Real Estate News, Miami Hotel News

Luxury Miami Beach Real Estate Auctions

Miami and Miami Beach Real Estate Auctions Planned for Florida

Here’s some proof that Florida's real estate market is in deep trouble-
Sotheby's Realty is one of a couple companies that are planning to
auction of Miami and Miami Beach real estate. The first South Florida luxury property auction for Miami-Dade, Broward and Palm Beach Counties will be on March 28 in Fort Lauderdale and held by Sol Sotheby's International Realty and Nestler Poletto Sotheby's International Realty. There will be more than $200 million in high-end properties on the block including luxury Miami and Miami Beach real restate properties. With no limiting conditions or amounts most of the properties will be sold to the highest qualified bidder.

Daniel DeCaro Real Estate Auctions, the company that is working with Sotheby's, now offer clients the option of auctioning off their homes in Central Florida rather than selling in the traditional manner.

Click here to view....upcoming open houses.