Tips to make your real estate buying experience a smooth one
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!
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.
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
This updaated and well maintained office building is in the bustling medical and office district of 8th street, between Galiano and Ponce De Leon in Coral Gables. Hurricane shutters, 14 parking spaces, an automatic gate and great location, make this an ideal building for an owner-user. 6,535 square feet at $229 per square foot.
According to floor plans obtained from the City of Coral Gables microfilm, this beautifully updated Old Spanish home was once a parsonage. Built in the 1920’s but recently updated, it is the perfect combination of old world charm w/modern amenities. Marble floors, impact resistant windows, granite kitchen counters & updated bathrooms are the elegant finishes that compliment the Old Spanish design. The 1 bed/1 bath cottage is perfect as an office, guest room or gym.
7925 SW 55 Ave., is a meticulously maintained 3 bedroom 2 bath home in a great location – walking distance to downtown South Miami and close to the University of Miami. An updated kitchen with granite counters and a gas stove, new roof, new septic, hurricane shutters, beautiful hardwood floors, and great natural light make this the perfect home for someone who doesn’t want to have to re-do the house before moving in!
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Miami Palmetto High School has long had a reputation of being a great high school and many families move into Pinecrest or Palmetto Bay so their children can attend. There are other areas west of U.S 1 that are often overlooked that also have Miami Palmetto High School as their home school.
This house, at 12150 SW 88 Avenue, is such a house. At 4,747 square feet, there is plenty of room for a large family. The split floor plan has a separate children’s suite complete with their own play/study room. The expansive family room has enough space for sitting and relaxing or playing games. More for your money and still a great school district!
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So, you have been reading that now is the time to buy and you are ready to take the plunge and purchase your first home. Before you start surfing the websites and looking at properties, take the following steps to make sure the process goes smoothly once you find your dream home.
Current consideration of phasing out Fannie Mae and Freddie Mac over the next 5-7 years has everyone in the real estate and mortgage markets speculating as to the effect it will have. Created after the depression to help people buy homes, these two entities and FHA, now buy or insure 97% of home loans.
Some of the effects include:
Two articles in last week’s New York Time online, Without Loan Giants, 30-Year Mortgage May Fade Away and A Plan to Phase Out Fannie Mae and Freddie Mac do a great job of providing looking at the pros and cons of these programs and examining possible outcomes of phasing them out.
Whatever happens, it is another sign that housing will likely never be as cheap as it is now.
According to a CNNMoney.com article all 20 major metro areas saw an increase in sales of million dollar plus condos and single family homes, rising an average of 18.6%.
The increase is largely attributed to the increase in the stock market since 2009 and cheaper financing for jumbo loans.