7925 SW 55 Ave., Miami, FL – High Pines Charmer

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 […]

Buying
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10 Ways to Prepare for Homeownership

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.

Buying
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Fannie Mae and Freddie Mac: What Effect Will Phasing Them Out Have On Mortgage Market?

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 […]

Buying, Mortgage information
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Commercial Real Estate: Vacancy Rates Expected to Decline

According to NAR an improvement in the economy, coupled with an increase of liquidity in Commercial Mortgage Backed Securities, is projected to decrease current vacancy rates across the commercial sectors. Although these are positive indications that the commercial sector didn’t fall as far or for as long as the residential market, it is still a […]

Buying, Commercial Real Estate
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Miami Real Estate: High Affordability + Low Prices = Buy

An article in today’s Wall Street Journal uses Miami as one example as to why 2011 may be the year to buy. Affordability, which looks at how many months of income an average family would take to pay for a home, is at the lowest level in 35 years Pricing is believed to be at […]

Buying, Investment Real Estate
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Mortgage Interest Deductions: Should They Be Eliminated?

Since before I owned or started selling real estate, the mortgage interest deduction has existed and been one of the main benefits espoused for buying a home.  In addition to building up equity, it has been argued that this is one of the deductions that is helpful for lowering taxes due, especially for individuals and […]

Buying, Mortgage information, Selling
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How Rising Mortgage Rates Affect Your Buying Power

This table from the KCM post “The Cost of Waiting for Prices to Fall” is a great visual to update my post from yesterday regarding mortgage rates hitting the 5% mark

Buying, Mortgage information
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Mortgage Rates Hit 5%

Mortgage rates are inching up, currently hovering around 5%.  According to a CNNmoney.com report, interest rates at 5% don’t affect home buyers.  While 5% is still low,  and would only add slightly to a monthly mortgage, a continued increase in rates will affect the amount of home a buyer can purchase. Other posts that discuss […]

Buying, Mortgage information
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Coconut Grove, FL Real Estate – Market Summary

Market information from the Multiple Listing Service for single family homes for the month of January are as follows: Closed sales:  8.  None were short sales, 7 were REOs. 5 were cash sales. Price range of closed sales: $565,000 – $48,000 Pending sales: 12.  2 short sales, 1 REO Price range of pending sales: $2.39 […]

Buying, Coconut Grove, Foreclosures, Market Summary, Selling
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Fannie Mae and Freddie Mac Increasing Interest Rates and Fees

Starting in March 1 for Freddie Mac and April 1 for Fannie Mae interest rates for loans over 15 years could almost double, even if you have perfect credit. Remember, if you are a buyer the cost of owning a home is more important than the price of the home.  Obviously you don’t want to […]

Buying, Mortgage information
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