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Miami Real Estate: The Market is Moving
EWM’s Coral Gables Office had a $32,000,000 week.
Our Miami Beach Office had a $37,000,000 week. So the answer to “Are Properties Selling?” is a resounding “Yes!”
Freddie Mac and Fannie Mae Offering Incentives to Move Inventory
If you are in the market to purchase a home now really is a great time to buy. In addition to low interest rates and high inventories, current offers by Fannie Mae and Freddie Mac help increase your buying power. Note: these offers are for owner-occupied homes only, not for investment properties.
Fannie Mae:
- 3.5% toward closing costs
- closing by October 31, 2011
Freddie Mac:
- Up to 3.5% toward closing costs
- 2 year home warranty
- 30% appliance discount
- Thru July 31, must close by September, 2011
Will Association Fees and Hurricane Insurance Derail Housing Recovery in Florida?
Two recent articles in the Miami Herald have me wondering if our fragile South Florida housing recovery is going to hit the skids. The one in Monday’s business section talks about condo association fees and the one in today’s paper discusses the increase in windstorm insurance. if you are getting ready to buy, make sure you keep both of these articles in mind and allow an extra cushion for increases. If you already own, have either of these costs gone up for you yet?
Miami’s Sexiest Hotels
If you live in Miami, you have probably heard of most of these hotels or gone to pick up visiting friends or relatives. Why not take a break from the summer heat and celebrate the end of Miami Romance Month by visiting one of these 10 sexiest Miami hotels with your significant other this weekend? If you have a favorite that is not on the list, let me know!
Vote Tomorrow for Mayor of Miami-Dade County
After spending $13 million to oust former Mayor Carlos Alvarez and elect a new mayor, tomorrow’s turnout is expected to be dismal. Do you think the money was well spent?
5 Steps To Take If You Are Buying In Today’s Miami Real Estate Market
If you are trying to purchase your first home or investment property and take advantage of the low interest rates and prices, congratulations! A couple of things you may want to do to avoid frustration:
1)If you are financing, prequalify for a mortgage. It will make your offer that much stronger.
2)Do your homework-find out what properties are listing & selling for in the area you are looking in. If they are selling for more than you qualify for, you are looking in the wrong area.
3)Be realistic with your expectations-if you are only looking at foreclosures and short sales, realize that with the former you will be competing with cash buyers, be in a multiple bid situation where the property will probably go for more than asking, and you will most likely need to do some work. With a short sale you are looking at a long closing process.
4) If you are planning on working with a Realtor, work exclusively with one and have him/her set up all appointments, even if you are searching on-line on your own. If you go to open houses let the person holding it open know you are working with a Realtor.
5) If you submit offers and consistently lose them for any reason other than you were competing with a cash buyer, find out what the reason is and address it so you won’t make the same mistake next time. If it is consistently due to price, stop lowballing if you really want to get in the market or, go back to #2 above
7925 SW 55 Ave., Miami, FL
Price decrease on this High Pines home for sale! Walking distance to South Miami and all of the activities it offers, private lot with mature shade trees, updated kitchen with gas stove, one car garage, three bedrooms, two baths, ample closet space. Screened patio overlooking back yard with room for a pool. Great value in an even better location!
Developers Are Betting On Miami Real Estate
With two new extremely large developments announced within the last couple of months, I would venture to bet that Miami-Dade County is on a rebound, though price appreciation may take a while.
Genting Malaysia Berhadresort and Swire Properties Brickell CitiCentre are sure to bring much needed amenities to the Biscayne Boulevard corridor and the area west of Brickell Avenue.
Miami Real Estate: Inventory At Lowest Level Since 2008
Have you been frustrated in your search for a home? That may be because, despite what you read about the housing market being in the slumps and high inventories, a lot of those stories are talking about the national housing market. The local Miami real estate market is different. Because prices have dropped so low, buyers have been snapping up properties, mostly in cash transactions. If you are looking in a specific neighborhood and price range, the inventory will probably be even tighter.
Office Building For Sale Coral Gables, FL
This free-standing building with 14 parking space at 3860 SW 8 Street, Coral Gables is a great buy. Located in the popular 
medical district of 8th Street and Ponce de Leon, it is a great buy: 6535 square feet for $1,300,000 is less than $200 per square foot. You can’t build a new building for that price! Hurricane shutters, elevator, open air spaces, offices, conference rooms
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