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Renee@Smithtitleservices.com  Twitter: @MyShortSaleGuru  LinkedIn: Renee Marie Smith

By Marie Renee Smith. Renee is an attorney and author of the best-seller "My Short Sale Guru's Guide". Renee services most of our clients.

I am glad to announce a successful first half of 2013. My philosophy is that the real estate industry has forever changed. Specifically the speed in which local market values fluctuate with buying or legislation and in 2013, the major market factors at play are proving me correct.

In the 1st quarter of 2013, large cash buyers or hedge funds altered the landscape of both the Florida and Las Vegas Markets. Already limited inventory levels, in conjunction with the large purchasing power of these institutional buyers, increased prices at an accelerated rate resulting in skewed BPOs (Broker Price Opinion) and short sale lender market values. This even had some opine that short sales were over in these areas. Facts proved otherwise. In the 1st quarter of 2013, Miami Dade County, Florida had the highest initiation of short sales in Equator, the lender online processing service, of any county in the United States. My statics below show 33% of the 2013 market remains short sales. So even with 7-12% property price increases, there is a large segment of mortgages that have not returned to positive territory.

In the 2nd quarter of 2013 major shifts occurred in the short sale market. First, we witnessed all buyers, including the institutional ones, pull back buying as a result of the short sale lenders over inflated counter offers and market values not reflecting the true local values. Second, with the jump in property values, traditional sales increased with sellers willing again to realize normalized returns. Third, the low number of Las Vegas primary homeowners willing to short sale in 2013 (see below) had many believing it was related to state legislatures limiting lenders' efforts to foreclose resulting in homeowners' preference to live for free instead of resolve the delinquent mortgages through sale. As a result, in the 2nd quarter 2013 both Nevada and Florida legislatures have eased current laws relating to foreclosure to address the foreclosure backlog and low inventory levels. Lastly in June 2013, HAFA (Home Affordable Foreclosure Alternatives) program was been extended to until 2015 giving primary homeowners more time to take advantage of the mortgage assistance in conjunction with the eased foreclosure regulations.

We look forwarded to continued strong sales with prices normalizing due to the above factors reducing the speed of price increases, motivating primary homeowners to list properties for sale and continued short selling well into 2014 with the HAFA benefits.

-> Smith & Associates' 2nd Quarter 2013 Statistics<-

Over $15,000,000.00 in closed sales year through June
Smith & Associates: 80% Short Sales vs. Current National Average: 22% Short Sales
Nevada and Florida: 33% Short Sales per United Press Inter’l 3.17.13
77% Primary Residence Short Sales vs. Investment Properties
• 52% Primary residence in Florida
• 19% Primary residence in Las Vegas
26% of Smith & Associates Short Sales in process are located in Las Vegas
35% of the Short Sales with the Big 3 Lenders (Bank of America, Chase, and Wells Fargo)
• 12.5% with Big 3 Lenders in Las Vegas
• 34% with Big 3 Lenders in Florida
44% of all Short Sales being processed in Equator
To Purchase Renee's Realtor Book:

24240 San Lucas Ln., Punta Gorda,  is the great opportunity to own a large, estate size, Florida pool home at an incredible low price. PRICE JUST REDUCED BY THE BANK to only $ 219,000.00! Great location at Burnt Store Lakes, just 3 blocks away from the Burnt Store Marina Golf Course and Marina. This community is a great place to bring the family together. With golf/bike paths and the fantastic breeze of the Gulf of Mexico, just steps away from your door.
The property is a two story home recently built, with large room dimensions. The master bedroom is really massive and has a private "dressing room". On the top floor also a huge media/family room takes central interest. The kitchen is open, spacious, with granite counter-tops and lots of natural wood made cabinets. Floors were upgraded also. The owner built a gorgeous swimming pool with a large deck, perfect for parties and outside living. Just the pump equipment is missing. Massive three car garage completes this fantastic property, now at a very attractive and reduced price of only $ 219,000.00. Call Fernando Pettienroli, listing agent to make your appointment TODAY at 941) 275 9111 orContact Fernando NOW!. We are open weekends.

Nestled in a very privileged location, near marinas and golf courses, this estate sized pool home in Burnt Store Lakes has all the structural upgrades a high end consumer desires. Having in mind comfort and lifestyle, the house uses almost 3,000 sq. ft. of space with large rooms, spacious family areas and massive walk in closets. A perfect Florida retreat, either to bring back the family together on special occasions or for a full time resident with need of space. Enjoy the sunsets on this perfect screened cascade pool.
A large deck allows to have important outside furniture spaces and guests. The first floor presents a formal area for living room - dinning room, and a very large area for family room, nook and kitchen. High grade granite counter tops and natural wood cabinets. Separate laundry room and a half bathroom completes the area. Direct access to the attached three car garage. On the top floor, an expansive entertainment room takes over. The master bedroom is really large, with cauffered ceilings and a highly desired dressing room/walk in closet. The master bathroom features a separate walk in shower, roman tub and double sinks. Two large guest bedrooms (one of them with walk in closets) and a large bathroom with double sinks, completes the area.
This is a short sale pre-approved by the bank, so we can assure a quick and safe closing to the happy buyer of this magnificent Florida property that comes now to the market.
For more information, photos, videos, appointments or to place an offer, call directly listing agent, Fernando Pettineroli: (941) 275 9111 or contact us using the form below. We answer our calls within 1 hour.

Watch this walk through showing on 25409 Durango Ct.
This property, that observes signs of defective drywall, can still be bought subject to total remediation by the developer.  Call 941 275 9111 for more info: Fernando Pettineroli, listing agent, Keller Williams Realty and watch the video here

Punta Gorda, Fl. The approaching expiration date of the Mortgage Forgiveness Debt Relief Act of 2007 is bringing serious concerns to thousands of families that might soon face a huge tax bill, if they don't sell their homes before December 31st. 2012.

Short sales are soon to be a key solution for most homeowners. Starting November 1st. Freddie Mac and Fannie Mae will allow homeowners that never missed a payment to short sale their proprieties. This new rule will help borrowers slightly underwater to protect their credit scores and get rid of the debt when a hardship situation happens.
The solution is a fantastic tool to avoid foreclosure or bankruptcy and skip the terrible credit results of these legal situations.
According to Inman News, "officials at the Federal Housing Finance Agency, which oversees Fannie and Freddie are in discussions with the credit industry to explore ways to fix the credit score problem for those who haven’t missed a payment but undergo a short sale.
If you are contemplating to short sale, we can help. Please contact Fernando Pettineroli, listing agent: (941) 275 9111 or click here to fill the contact form.

This never lived in new home is a great opportunity for cash buyers. Located nearby direct gulf access canals at NW Cape Coral. This corner new home is waiting for you. Open floor plan with excellent structural upgrades. Upgraded kitchen cabinets with granite countertops. Large diagonal tiles on all common areas. This house features 03 bedrooms and 02 bathrooms on a split layout covering 2,081 sq.ft. under a/c. An expansive master bedroom with walk in closets and a highly upgraded master bathroom. Two car garage. City assessments may apply in the future but are not applicable as now. The listing is very hot and we recommend to contact listing agent Fernando Pettineroli immediatelly to present offers at 941 275 9111 or by clicking here. Fernando Pettineroli is a Realtor with Michael Saunders and Company, Broker.

Comes to the market this magnificent property located at 4222 NW 22md. St. Cape Coral, Fl. 33993. A never lived in home built a few years back and kept waiting on shadow inventory until now. A great opportunity for cash buyers. Located nearby direct gulf access canals at NW Cape Coral. This new home is waiting for you. Open floor plan with excellent structural upgrades as a triple screened lanai. Upgraded kitchen cabinets with granite countertops. Large tiles on all common areas. This is a four bedrooms and three bathrooms property with 2,118 sq. ft. under AC. An expansive master bedroom with walk in closets and a highly upgraded master bathroom. Two car garage. We recommend to call us now to make an offer since this listing is very hot. This is a short subject to bank approval. Call listing agent Fernando Pettineroli with Michael Saunders and Company to present your offer NOW CLICKING HERE. or call 941 275 9111. Fernando Pettineroli is a Realtor with Michael Saunders and Company.

Thousands of homeowners in distress with their mortgages are now thinking seriously about the option of taking the benefits of HAFA, the program that provides assistance to families that opt for short sale their home.
"It is a great moment to take advantage of this program and the tax rebates for homeowners on distress" said Fernando Pettineroli, a Realtor from SW Florida.
The short sale market has changed substantially since now homeowners have available a menu of options with ZERO investment on the seller side.
"The reason most of Realtors were reluctant to work with short sales was because many attorneys expected to be paid in advance for their fees, a practice that is considered questionable on real estate circles" explained Fernando. "Now we can just work fully on marketing the property while an attorney will deal with the bank, without charging the homeowner" affirmed Pettineroli.
HAFA or Home Alternative Foreclosure Program is schedule to finish in 2013 and provides $ 3,000.00 in direct assistance to families short selling their properties. Financial help from the banks has been provided also in many cases.
To list your home for short sale under HAFA, please contact us with this form online.
To learn more about this program, official information can be found here.

El programa HAFA esta dando a propietarios en problemas la posibilidad de salir de la deuda e incluso recibir una importante suma de dinero por listar sus casas a la venta en "short sale".
"Este año es una carrera contra el tiempo para lograr vender estos "short sales", ya que el programa termina en el 2013" anuncio Fernando Pettineroli, agente inmobiliario del Suroeste de la Florida.
"Le decimos a la gente: no abandone su casa. Calificar a HAFA es posible y no tiene gastos de honorarios de abogados para el vendedor, ya que son pagados por el banco" agregó Pettineroli.
Para calificar al programa, estos son los requisitos basicos:

1. La propiedad debe ser su residencia principal.
2. La propiedad puede haber sido rentada y/o estar vacia por un periodo inferior a los ultimos 12 meses antes de la consideracion para el programa de HAFA.
3. El propietario responsable de la deuda no ha comprado otra propiedad.
4. El balance actual de la primera hipoteca de la propiedad no debe superar $729,750.00 o $934,200.00 por dos unidades o $ 1,129,250.00 por tres unidades y $1,403,400.00 por cuatro unidades.
5. La deuda debe haber sido creada antes del 1ro de Julio del 2009.
6. El pago de la deuda hipotecaria debe estar retrasado o previsible.
7. El banco o administrador hipotecario debe participar en este programa del gobierno.