Sales of Single Family Homes and Condos in Miami increased again during the month of January, while prices are in the decline. Find more details in the "Miami Home Sales Report" at the index below this page.

Attention buyers:

Time is ticking away! First time homebuyers have until April 30th, 2010 to submit a purchase contract in order to be considered for the $8,000 federal tax credit.

BRIDGE LOANS OR MONETIZING THE $8,000 TAX CREDIT IN MIAMI AND FLORIDA. - Homebuyers in Miami and across Florida may be able to benefit from the Federal Housing Administration (FHA) program that allows qualified first time home buyers to use the tax credit (up to $8,000) upfront, to help with purchase costs of a FHA-insured loan at the closing table. Lenders will be able to provide a short term "bridge-loan"  to access the federal tax credit of up to $8,000 to cover closing costs, buy down their interest rates, or simply to increase the amount of downpayment (added to the 3.5% minimum down required by FHA loans).

SHORT SALES. - WHAT IS A SHORT SALE? -  Many current listings found in the Miami market are listed as "Short Sales".  Basically, a short sale is a transaction where the price advertised or net proceeds at closing are no enough to cover the seller loan amount and other obligations to the lender. Tipically a short sale transaction needs to be aproved by the lending institution.

Coming soon, updated information on Miami's Market conditions. Get information about the abundant foreclosure home market and also about the shortsales.

Check back here soon!

NOTE: DATA FOUND IN THIS WEBSITE IS JUST FOR INFORMATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSTRUED AS REAL ESTATE, TAX, OR LEGAL ADVICE. FOR SPECIFIC ADVICE, CONSUMERS SHOULD ALWAYS CONSULT WITH A QUALIFIED TAX PROFESSIONAL.