Categories
Selling

Too Much Technology?

Real Estate and TechnologyYesterday was my tech meltdown day.  I am a people person, but I have been buying all of the latest gadgets to simplify my life.  I use my iPhone 4G for giving “live” walk-throughs of properties for my customers; an iPad to show comparable properties to buyers and sellers and make presentations on the fly; and a computer for e-mailing, blogging, preparing mailers and flyers etc.  Yesterday, my phone froze up completely and wouldn’t hold a charge and my e-mail was so full it would not let me send e-mails out and actually required my contacting tech support (of course it was after 6 pm).  So, for what I needed yesterday, all of my technology was useless.

After a brief freak-out on how dependent I have become on technology, I went back to the basics and printed out hard copies of the lease and sale and purchase contract I was preparing and hand-delivered them to my customers.  I really like what technology can do to help me make my job easier, but nothing beats the face-to-face meeting and conversations!

Categories
Commercial Real Estate

Retail Prices Continue to Decline

Pricing Trends for Retail
Pricing Trends for Retail

Not a surprising trend considering the unemployment rate and related decrease in consumer spending.

Categories
Buying Selling

New Provisions of FAR/BAR “As Is” Residential Contract For Sale and Purchase

The new “AS IS” contract has changed to clarify areas that were vague in the previous contract.  These clarifications include, but are not limited to:

  • An itemized list detailing the personal property that Buyer and Seller agree is to be included in the sale.  Note:  if there is a specific light fixture you want, to include/exclude from the sale, you should specifically note it in this section.  A chandelier can easily be changed and is not considered a fixture.
  • Clarifies that “All deposits paid or agreed to be paid” are the deposit and it is this entire amount that is in jeopardy should the purchase not go through and the deposit be in dispute.
  • Clarifies that an executed copy of the contract needs to be delivered to all parties in order for it be accepted.
  • States that if  “Property related conditions of the Loan Commitment have not been met (except when such conditions are waived by other provisions of this Contract) that Buyer can get the Deposit back.  So basically, getting a commitment with conditions is only worth the paper it is written on.
  • Specifies the costs to be paid by Buyer and Seller.
  • Has a special “Miami-Dade/Broward Regional Provision” for providing title evidence and insurance.
  • Uses Calendar days instead of Business days in computing time periods.

Overall, these changes help both the Buyer and Seller by setting the expectations for each party.  Let me know if you would like a copy of the new “AS-IS” contract.  For clarification of the contract and legal opinions, please contact your attorney.

Categories
Buying Selling

New Provisions of FAR/BAR "As Is" Residential Contract For Sale and Purchase

The new “AS IS” contract has changed to clarify areas that were vague in the previous contract.  These clarifications include, but are not limited to:

  • An itemized list detailing the personal property that Buyer and Seller agree is to be included in the sale.  Note:  if there is a specific light fixture you want, to include/exclude from the sale, you should specifically note it in this section.  A chandelier can easily be changed and is not considered a fixture.
  • Clarifies that “All deposits paid or agreed to be paid” are the deposit and it is this entire amount that is in jeopardy should the purchase not go through and the deposit be in dispute.
  • Clarifies that an executed copy of the contract needs to be delivered to all parties in order for it be accepted.
  • States that if  “Property related conditions of the Loan Commitment have not been met (except when such conditions are waived by other provisions of this Contract) that Buyer can get the Deposit back.  So basically, getting a commitment with conditions is only worth the paper it is written on.
  • Specifies the costs to be paid by Buyer and Seller.
  • Has a special “Miami-Dade/Broward Regional Provision” for providing title evidence and insurance.
  • Uses Calendar days instead of Business days in computing time periods.

Overall, these changes help both the Buyer and Seller by setting the expectations for each party.  Let me know if you would like a copy of the new “AS-IS” contract.  For clarification of the contract and legal opinions, please contact your attorney.

Categories
Buying Selling

Housing in Miami, Florida vs Charlotte, North Carolina

1411 Walkers Crossing DriveJust heading back from Charlotte, North Carolina, where the real estate market is still really slow.  This 1993-built, 1472 square foot, 3 bedroom 2.5 bath, pool home in a neighborhood close to an amusement park, shopping and downtown is being offered at $164,900, which is  less than the the median home price in Miami-Dade, ($182,900 in August, 2010).  Although the pricing is lower than our median price, they have had very few showings since it was listed.  For the most part, single family houses in Miami-Dade under $300,000 are selling fast and with multiple offers.  There are currently only 74 active listings in Miami-Dade on the MLS that were built in 1993 or later, with 3 bedrooms 2.5 baths, under $200,000.

Categories
Buying Luxury Real Estate Selling

Luxury Homes Sales – EWM is #1

Categories
Buying

Pinecrest Open House 6-27-2010

Categories
Buying Luxury Real Estate Market Summary

Miami Open House Weekend 6-27-2010

Categories
Market Summary

Miami Real Estate – Current Market Quick Facts

  • There are twice as many sales today than 2 years ago
  • There is 1/2 the inventory there was 2 years ago
  • The rental to sale ratio is about 50:50.  Normal is 25:75
  • EWM is selling a $1,000,000 property every 36 hours
  • 52% of EWM’s sales are cash
  • There are more $1,000,000 condos selling that $1,000,000 single family homes

Categories
Buying

Miami Dade Real Estate