Congress recessed and the flood insurance program expired last night.  Lost in a debate over unemployment, COBRA payments and other issues, the National Flood Insurance Program was not extended and expired last night. This could mean delayed closings if you are purchasing a property where the lender requires flood insurance, since the NFIP is the […]

According to an article in today’s South Florida Business Journal, a report by IHS Global Insight suggests that in grossly overvalued markets, prices dropped an average of 37% from 2005 until the fourth quarter of 2009.  In Miami, prices have fallen 35.8% in that time frame.  The report suggests that for the country as a […]

If you are planning on using the Home Buyers Tax Credit to purchase your home, time is running out. 

The main reason the current mortgage market is like the diamond trade is because the Fed’s current policy has been to create the market for mortgage backed securities.  The Fed agreed to spend $ 1.25 trillion through the first quarter of 2010 to purchase mortgage bonds, thereby keeping interest rates low and stimulating the housing […]

This house is great for entertaining; it is like having your own country club in your back yard!  A North/South tennis court, pool, and large covered patio with electric awning and pass-through to kitchen make this deep acre lot the place to be. A large kitchen with granite counter tops, spacious living and dining room, […]

Sellers and buyers of real estate often fixate on what the price of a property is and in doing so, lose sight of the more important factor, cost.  Price is what you get for the property if you are a seller and what you pay for it if you are a buyer.  However, what affects […]

The days of the McMansions have been put on hold for now.  What is selling in Miami are the smaller homes on smaller lots in neighborhoods that are close to shopping and transportation.  Most of the homes fitting this description are under $500,000 and many are under $300,000 and are therefore perfect for first-time homebuyers. […]

Although nationally existing home sales fell in December, sales of single family homes in Miami  were up 37% over November.  With the median price of both single family and condos down significantly and the  expiration of the first First Time Homebuyers Tax Credit coming up in April, sales are expected to continue rising in the […]

Great price for this 3 bedroom 2 bath home on double lot near Coral Gables, Miami International Airport, Downtown Miami.  Wood floors add warmth to this 1948 charmer.