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Where’s JWo?
Hurricane season can be a bit of a roller coaster ride with storms swirling out at sea, uncertain projection paths, and an onslaught of news coverage if one comes even close to making landfall. Take some of the worry out of the season by going through your check list now and making sure your home is protected.
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The Importance of Proof Reading…
I have lived in Miami for over 20 years and would have a hard time following these directions “6 BLACKS NORTH OF MIARCALE MIE”. I am not making that up. Luckily I played a lot of “Scramble” as a kid and deciphered it to read 6 blocks north of Miracle Mile….
Today the National Association of Realtors will be in Washington DC to address several real estate issues that Congress is contemplating to address the federal deficit. Some of the issues being addressed include:
- Mortgage Interest Deduction: long enjoyed by homeowners, this deduction has been recommeded to be eliminated as part of large tax reform proposal
- Capital Gains – Exclusion on Sale of Residence: reducing or limiting the capital gains exemption ($250,000/$500,000) on the sale of a home is also being discussed.
- Property Tax Deduction: possibilty that current deduction would be reduced or eliminated.
NAR is tackling other issues as well via their 2012 Federal Public Policy Priorities.
Miami and Phoenix are seeing a rise in asking prices, based on a Trulia Price Monitor Report. There are still a lot of good buys out there, but many buyers are frustrated when a new property comes on the market and goes under contract almost immediately. Decreasing inventory and aggressive pricing by listing agents, mean you have to act fast if you are serious about making a purchase. If the property is priced right, don’t try to negotiate it down too much, if at all. I listed two properties last week that both had multiple offers within the first two days. The first property had all offers at asking price and we went to a multiple offer situation where we asked for highest and best. Total time on market was 6 days.
The second property had several offers on the second day. One agent had his buyer offer slightly over asking and put down 10% as an initial deposit, upon acceptance. The seller accepted his offer. Two days later, a higher offer came in from a buyer who was desperate because she had just lost out on a short sale and needs to move fast.
If you are a buyer, be ready to put your best offer forward early on. If you are a seller and get multiple offers, don’t second guess your pricing or hold out for something even better. The reality is that you get the most activity on a listing when it first goes on the market. The longer you wait, the less you are likely to get.
Tomorrow night at 8:00, the New World Symphony Wallcast presents its last wallcast of the season. Bring a blanket and picnic dinner to watch The Mahler Legacy: 9, broadcasted on the wall of this beautiful building, designed by the Pritzker Prize-winning architect Frank Gehry.
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Pet Friendly Buildings on Brickell
Luckily for pet lovers living in or moving to Miami, there are more buildings than ever that allow pets. Most of them do have restrictions and sometimes buildings go from pet friendly to not, so make sure to double check with the association before you buy or rent. Most only allow one pet per unit
Under 20 pounds
500 Brickell
Solaris
Fortune House
Sail
Brickell on the River
One Broadway
Under 30 pounds
Axis
One Broadway
Under 50 pounds
The Mark
No weight limit
The Plaza – allows 2 pets per unit
I drive Riviera every day on my way to and from work and love all of the renovations that have been going on on that street between Hardee and U.S.1.
Whether on a waterfront lot, like the house below, or a dry lot, over 6 homes have recently had major remodeling done.
I love the new look!
I listed a rental in Cutler Bay last week and had over 150 phone calls! I had three offers the first day, even though there wasn’t single picture listed yet, the yard was over grown and the house had not been cleaned out from previous tenant. If you are an investor, buy more properties. The demand for rental housing is huge, which is probably another reason why Warren Buffet said he’d buy a couple hundred thousand single family homes!