January 18th, 2016

It just became a lot easier to navigate the complicated mortgage process. New disclosures being utilized in the mortgage world requires lenders to provide home buyers with two new forms that clearly detail their home-loan terms. For many buyers these changes are an improvement in what is a rather intimidating process. For the average consumer, home-loans are the biggest investment in their lives. Luckily, today we have the TILA-RESPA Integrated Disclosure rule which in two pages accomplishes what the four pages of the Loan Estimate and Closing Disclosure used to do.

Additionally, lenders have to provide folks looking to buy a home a loan estimate form within 3 days of a submitted application, minimizing the nerve racking wait time of previous years. This estimate consists of three pages detailing amount, interest rate, and where the figures can change post-closing. Having the estimates more easily available makes comparing loans a whole lot easier. However, one should still look out for the type of interest rate; whether it’s fixed or adjustable and if there is potential for any future penalties. The forms additionally estimate closing costs of your transaction.

Having these figures clearly stated should make it a lot easier to compare loans from different providers; allowing you to shop around to find the best rates and terms. Finally, the forms help the closing process, for lenders now must provide the closing disclosure 3 days prior to closing.  Buyers can approach a closing with more confidence knowing that the figures previously agreed to will be what is seen at the closing. These new forms are a step in the right direction to get closing simplified.

Filed under: Blog, Brickell Key, Coco Walk, Coconut Grove, Cocoplum, Coral Gables, Coral Gables Gated Communities, Cutler Bay, Cutler Oaks, Doral, Doral Isles, Florida, Inventory, Miami-Dade County, Palmetto Bay, Pinecrest, Real Estate, Short Sales by Admin
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August 5th, 2015

The obligation of a mortgage can be uncomfortable for many people. However, it needs to be realized that there is no way to avoid paying a mortgage; except by paying cash when purchasing your property.  Even when you are renting a property you are paying for your landlord’s mortgage. Simply put… a house will always consume housing whether they are owned or rented. But which one is right for you? To buy or to rent?

Let us for now set aside the favorable accounting treatment of owning and just focus on how owners have the benefit that they are paying down their own principle while households that rent pay down the principle of a landlord plus a rate of return for their rental.

The choices between buying a home and renting one are among the biggest financial decisions that an adult makes. Though the costs of buying are more varied and complicated than for renting… there are many added benefits which include feeling grounded, the decorative freedom that comes with owning and the potential for resale. We suggest that before making your final decision on whether to buy or rent, make sure to talk to a financial adviser and a real estate agent. The decision is very much dependent on where you are in life and both of these industry professionals can help you make the right one.

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July 23, 2015

5001 SW 87 AVE Miami, Florida  33165

This beautiful Lake Catalina home was totally rebuilt in 2004 with a whole new layout of rooms including 3 master suites with private bathrooms, solid wood kitchen cabinets plus custom wet/ coffee bar, all stainless steel appliances, summer kitchen on patio, Air Conditioners, impact windows, flooring, crown moldings, roof, rebuilt pool & Jacuzzi with cascading waterfall. Home has a boat ramp and lighted dock. Enjoy a variety of water-sports including jet skiing. This beautiful home with its lush surrounding and plethora of fun activities in the surrounding area is the perfect getaway while staying perfectly put.

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June 10, 2015

The City of Miami is considered one of the most connected cities in our nation; A city where the entire economy has its focus on the next big banking deal, real-estate deal, and general consumerism. Miami-Dade is very internationally driven so it made sense when South Florida real estate brokers went on a mission to make grand deals for our South Florida cities. Several South Florida realtors and brokers traveled to Beijing last month with hopes to develop interest with wealthy Chinese buyers. The goal was to get them to invest in luxury property and land in South Florida. Presently the luxury real estate market is growing exponentially.

However, with prices at luxury levels the local residents are not able to afford these properties. Developers and brokers are casting their fishing line in other waters. Countries in Europe and the nation of China are taking great interest in investment opportunities in Miami, and South Florida is absolutely dependent on the foreign cash flow as it is presently the driving force for Miami’s real estate market.

An example of this would be last year’s purchase of a 2.4 Acre site in Brickell by a Chinese investor who paid a whopping $74.7 million for the site. South Florida has been ahead of the pack when it comes to international real estate sales, with purchases like the one mentioned. Particularly Chinese investors come from the world’s most populated country. Therefore, they understand smart ecofriendly design that drives economy; this understanding will further increase Miami real estate sales and development which can enrich our city.

Presently there is a clean-up movement alongside the Miami River. Seaside views are limited in our city and that stretch by the Miami River provides land with waterside that is much needed. The promise of international development has ensured the Miami River clean up and furthers city growth. The international market promises development, economy, and prosperity for South Florida. However, it does leave you wondering… Will the locals reap any of these benefits?

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May 27th, 2015

Planning on selling your home in the coming months? This decision could not have come at a better time. The demand for single family homes is high and supply is very low.  Single family home sellers are benefiting from an auction like atmosphere with a multitude of buyers fighting for their next home. This environment promises higher sale prices and ridge-less conditions making the selling process a lot less difficult for both the sellers and their families.

It must be noted however, that there may be more competition about to surface. This competitor takes the form of newly constructed homes. This development may very well put an end to the limited single family home inventory therefore seizing the current buying frenzy for the limited inventory of single family homes. The inventory has been very low for over a year, these new homes in the market will definitely tip the scale.

In the most recent report from the National Association of Realtors (NAR) it was foreseen that construction of new homes and their sales will rise substantially in the next two years.With a new home national forecast of 1.1 million starting this year, and jumping to 1.4 million by 2016.

Locally single family homes sale price have risen in value contrasting the median sale price of $243,000 from April 2014. The current median sale price stands at $260,000; that is a 7.0% increase in just a years’ time. However, new property developing locally in the near future broadens the market. In turn causing your home sale revenue to be substantially less than what it would be in the current market.

Seeing a lot of new developments in your area? Looking to sell? With forecasts like these made by the National Association of Realtors, we highly advise selling sooner rather than later.

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May 15th, 2015

The real estate market of 2015 and specifically this spring is showing huge buyer demand for homes. The market is currently at the highest peak it has had in years. The demand in so many markets is so high that it is far exceeding the supply. Economist Lawrence Yun Chief for the National Association of Realtors commented that “March sold at a faster rate than ANY month since last summer”. Properties this year are selling within 4.6 months’ time which compared to the historical average of 6 months makes today’s current market an ideal time to list your property and move into your dream home. If this rate of sale is not enough maybe future savings will be a good motivator.

According to the “Home Price Expectation Survey” which polls consists of 100 economists, investment strategists and house market analysts, it is expected that the appreciation of home values in the next 5 years will increase to be between 11.7% and 27.5%. Home values will only continue to rise, although waiting for your own home to rise could potentially price you out of your hopes of buying your dream home. With those facts put in place, it has to be reinstated that today’s market is ideal. Additionally the Mortgage interest rates are still near record lows, remaining themselves below 4% for some time now. However predictions have been made that in the next 12 months this record low will be no more. Interest rates are expected to rise, which will impact your monthly mortgage in a big way. To put it in perspective; just half a percentage point change in interest can really damage your family’s net worth. With both the cost of property and mortgage rate perpetually increasing, it is important that you determine if you should or shouldn’t wait to purchase a home. Looking strictly at the numbers, buying your home sooner rather than later could really save you a large sum of money. If it is the right time for your family and yourself, being at the right level of readiness couldn’t have come at a better real estate time. it really is the perfect time to buy.

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April 1st, 2015

8870 SW 54 ST Miami, Florida 33165

With this open floor plan, perfect for entertaining. Light bright open floor plan, great room concept (45’x15′) with views of pool and patio from big kitchen, family room, and dining room. Updates galore include: kitchen remodeled in 2010 with new granite counters, back-splash, new stainless steel appliances, all new bathrooms in 2011 and 2013, new roof in 2013, new flooring updated in 2009 and much more!  Vaulted screened pool next to screened 15’x16′ aluminum roofed patio. Over-sized one car garage. Private fenced yard. Great home for entertaining.  This spacious home is the perfect for gatherings with friends and family.

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March 10th, 2015

17240 SW 87 AV, Palmetto Bay, FL 33157

All the expensive updates are done. The home has new wood kitchen cabinets with stainless steel appliances, granite counters, newer bathrooms, all new PGT impact windows and doors!  Foyer opens to both living room and dining room. Gorgeous kitchen with built-in wine rack opens to family room with brick fireplace perfect for unwinding with friends and loved ones. This beautiful Palmetto Bay home additionally has a separate breakfast room with pantry and separate laundry room.  Large Master bedroom has walk-in closet and beautifully tiled bath.  Roofed patio (49’x13′) overlooks dome screened pool, large deck and fenced backyard with view of canal. Come see this beautiful and cozy Palmetto Bay home.

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February 20th, 2015

7401 SW 142 TERRACE, Palmetto Bay, FL 33158

Calling all cooks! This AMAZING and Beautiful Palmetto Bay home comes with a top-of-the-line kitchen (approx. 24′ x 13′) with tons of gorgeous cabinets, granite counters, stainless steel appliances and breakfast area.

ALL SANITARY & WATER PLUMBING LINES REPLACED (OVER $60,000) on 2012 followed by the addition of NEW bathrooms and NEW flooring. Kitchen opens to family room. The home is a fantastic space with an Open Great Room for living and dining ( 32′ x 15′).

Large master bedroom (approx. 28′ x 14′) with large bathroom, with custom 2014 his & hers walk-in closets. 2 car side-entry garage. Small boat ramp to canal that leads to lake.

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