South Florida On The Market

Many South Florida home and business owners do not know they are over paying for their property taxes. Every property owner has a four week window to challange the amount they are paying. The deadline for Miami Dade and Broward is September 18. 1. Property is in poor condition 2. The assessed value is increasing drastically year over year 3. The area has a high foreclosure rate 4. Income property has a high vacancy 5. Property has no homestead or lost the homestead 6. The property is an over improvement for the area

A controversial move to sell 699 Fannie Mae- and Freddie Mac-owned homes in bulk to an investor was closed last week, according to the Federal Housing Finance Agency (FHFA). Pacifica Companies LLC purchased the homes as part of a real estate owned (REO) pilot initiative. Pacifica has not released details on how it will oversee the properties. Based in San Diego, the company’s website claims it has an office in Tampa, as well as Austin, Texas; Riverside, Calif.; and four cities in India. Pacifica paid $12.3 million upfront in a joint venture agreement. It will pay an additional $49.3 million by sending Fannie Mae 90 percent of future proceeds. After that, Pacifica will collect a 20 percent management fee and pay Fannie Mae 50 percent of future proceeds. FHFA projects the total value of all payments to be $78.1 million. The total price paid by Pacifica doesn’t represent a significant discount; however, the relatively low downpayment and profit-split deal would make it attractive to mo

10. Montana 1 yr home price change: +5.6% Median home price: $151,300 Unemployment rate: 6.4% (15th lowest) Montana shares characteristics with several of the Plains States. It never suffered from high unemployment during the recession; as a matter for fact, the jobless rate has been extraordinarily low. The agriculture and oil industries did well, and commodity prices were high. The cost of living in these states was, and still is, relatively low compared to the national average, and so are home prices. The benefits of being a homeowner in Montana should continue. Corelogic predicts that the appreciation in home prices in the state will be the 14th best among all states from the first quarter of 2013 to the first quarter of 2014, and the 12th best among all states from the first quarter of this year through the first quarter of 2017. 9. Hawaii 1 yr home price change: +5.7% Median home price: $522,000 Unemployment rate: 6.4% (14th lowest) Hawaii has the highest median home

National median list prices have been on the rise since the beginning of the year and now stand at $195,000, up 2.68 percent on a year-over-year basis, according to the June REALTOR.com® Trend Data released recently. Of 146 markets covered by REALTOR.com® , while list prices increased in 101 markets, held steady in 26 markets, and declined in just 19 markets. Sustained, record low inventories have been driving improving prices. The national median age of the inventory dropped to 84 days in June, down -9.67 percent on an annual basis and the size of REALTOR.com®'s inventory of homes for sale was 19.35 percent below a year ago. In June 2011, median list prices were down 1 percent or more on an annual basis in 79 of the 146 markets covered by REALTOR.com®. The nationwide median list price in June rose to $195,000. While list prices remained relatively constant throughout the 2011 home buying season, they have been rising steadily for the past five months, suggesting a growing opti

The Miami real estate market continues to outperform the nation following a record sales year in 2011. Limited supply and heightened demand have fueled robust price appreciation in Miami-Dade County during the fi rst quarter of 2012, despite short sales and REOs (bankowned properties) continuing to account for a signifi cant percentage of closed home sales. Median and Average Sales Prices The median sales price for single-family homes in Miami- Dade County rose 14 percent to $174,799 in the fi rst quarter of 2012 compared to the same time last year, according to the 25,000- member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) systems. The median sales price for condominiums was $129,500, a 38 percent increase year-over-year. The average sales prices for single-family homes and condominiums increased 26 percent to $335,072 and 29 percent to $257,346, respectively, compared to last year. Singl

  Short-Term Improvements The first step to improving your credit score is to know what is on the credit histories maintained by the major credit bureaus and to make sure the information is accurate. Even the best handling of credit can be ruined by mistakes or false information because your credit score is calculated based on the data in your credit history. You have to pay to see your credit score but not the credit history. Once each year you can get a free copy from each of the credit bureaus from the FTC-authorized provider, Annual Credit Reports (see References). If you find incorrect information on your credit history, you can initiate a dispute or corrective action online at the website of the appropriate credit bureau (Experian.com, Equifax.com or TransUnion.com). There are a couple of other things you can do in the near term to improve your credit score. One is to refrain from applying for new credit accounts or closing accounts. Doing this occ

1. You own it: With no landlord, you make the decisions. 2. You deduct it: Mortgage interest, property taxes and some costs involved with buying a home can be deducted from federal income taxes. 3. Interest rates: The cost to borrow mortgage money is at an all-time low. If you’re going to buy, this is the time to jump into the market. 4. You invest in it: Rent money is gone forever. Mortgage payments build home equity ownership interests. 5. You save for the future: Home equity is a ready-made savings plan. Sell it and you can make up to $250,000 cash without owing any federal income tax on the profit. 6. You can predict expenses:  Unlike rent, a fixed-mortgage payment doesn’t get more expensive over time. 7. You pick it: Choose from different neighborhoods, styles and price ranges. 8. You create it: Decorate, renovate, get a pet or paint the walls whatever color you want – it belongs to you. 9. You live in a neighborhood: You and your neighbors take pride in the l

The hottest design trends in new homes this year incorporate creative use of materials, layouts and features that provide maximum utility and beauty while being cost-conscious at the same time, according to the National Association of Home Builders (NAHB). In celebration of April’s New Homes Month, NAHB shares the following top trends highlighted by leading home builders and architects during the International Builders’ Show in Orlando, Fla., this past February: -Reworked Spaces: New homes are being designed to allow plenty of space for family interaction in high-traffic areas such as the kitchen, and to eliminate rooms such as formal dens and home offices that aren’t frequently used. Small spaces devoted to home management, also known as “pocket offices,” are being included in large pantries or spaces nearby the kitchen or family great room. Window seats and alcoves are being used to provide an area for private time, without taking up a lot of space. A popular and efficient location

If you have the bug to sell your home, you may want to grab a tool belt first. Why? In today's hyper-competitive real estate market, agents often tell their clients that it's a "price war and a beauty contest". So in addition to being the best priced home on the block, you need to be sure that your home also delivers a knock out first impression. A terrific way to position your home to attract the maximum number of suitors is to provide buyers with a home that is in turn-key condition. A turn-key home is one that a buyer can move into without inheriting a list of unfinished projects. So what are the top 10 ways to increase your home's value? Let's take a look: source: trulia Siding and exterior paint One of the fastest ways to make a better first impression with buyers is to paint the exterior of the home and, if needed, to replace the siding. A fresh coat of paint will freshen up the exterior and modernize the appearance. Just be sure to use colors that wi

With property values dropping in many places, short sale has now become a common term in the mortgage business. The most intuitive way to remember what a short sale is — is by thinking that it is the sale of a house that is short on money owed on home loans. How does this happen? Well, there are a few different factors that can contribute to a short sale, but the biggest one is the low appraisal and drop in property values. Let's say for example that a family buys a house 5 years ago for $100,000. After 5 years, they have paid $20,000 into the principal. They have $80,000 left on the mortgage. So, if they need to sell their house right now, the house must appraise for at least $80,000 in order for them to break even. However, with lowering property values, the house only appraises for $50,000. This family is now short $30,000 if they sell the house. If the family decides to keep the house until the housing market gets better, it's highly likely in 5 to 10 years that the hou

If you're on the fence and thinking about the Buy vs. Rent decision, so called "rent-to-own" deals may sound like the best of both worlds. Unfortunately, the exact opposite is often true. Learn more about these arrangements and whether or not it is right for you. What is Rent-to-Own? Rent-to-own (or lease-to-own as it's sometimes called) typically involves a renter paying a landlord an above-market monthly rent payment with a portion of that rent going towards the eventual down payment on the home's purchase. The renter pays a fee to the landlord/owner and sets a time frame for the lease, which is usually less than three years. In a typical arrangement, the selling price of the home is fixed for the term of the lease and the renter retains the right to decline purchasing the property when the lease has ended. These agreements can give homeowners an opportunity to move without selling at depressed prices, and they allow renters to save for a down payment whi

So you have decided to tackle a home improvement project, but like a mosquito buzzing in your ear a question lingers - Are you making the right choices when it comes to investing time and effort into improving your home? It's a valid concern because not all home improvements are created equal. To separate fact from fiction let's take a look at the top 10 home improvement myths: Any remodeling project will add value to your home Not true - while many remodeling projects will add value to your home, some can be seen as a negative by future buyers. For instance, combining two smaller bedrooms to create one larger bedroom may better fit your lifestyle today, but it may cause the home to lose value in the eyes of a future buyer who needs the two separate rooms. Buying the highest quality materials attracts more buyers Installing the highest quality materials always seems like a wise decision, but it can backfire. For instance, using the most expensive tile in a bathroom may impres

Zeroing in on yet another deficiency of a faulty appraisal process that is hurting home values, hampering a housing recovery and often killing sales of homes coming in below the contract sales price, the Government Accountability Office (GAO) earlier this month reported that the Appraisal Subcommittee, which oversees the appraiser regulatory programs established by the states, needs to improve its monitoring procedures. “These findings underscore the need to establish an effective oversight system to ensure that appraisals accurately reflect true market values and don’t harm aspiring home buyers or builders,” said NAHB Chairman Bob Nielsen, a home builder from Reno, Nev. A recent NAHB survey shows that one out three builders have lost signed sales contracts because of flawed appraisals and a fall survey conducted by the National Association of REALTORS® shows that 18 percent of REALTORS® reported a recent contract cancellation or delay as a result of a low appraisal. Numerous flaw

  You've survived house hunting and the bidding and negotiating on your new home, and now it's time to make it yours. But to do so, you have to sit down with various people, which may include the seller, your real estate agent, title and mortgage company officials and possibly your attorney at what's known in real estate lingo as the "closing table." At closing, you will close on the purchase of your new home, and if you are taking out a mortgage, on your home loan, as well. The whole process may take about an hour. Here's what's expected of you: Complete the walkthrough Before the actual closing, you'll most likely have the opportunity to perform a walkthrough of the property and confirm that the condition of the home is as it should be, as specified in the sales contract. Bring enough cash At closing, you'll be paying for your share of the closing costs, and will be bringing the down payment, so be sure to bring a certified check or a cashier

731  W 39 PL HIALEAH, FL 33012 $344,500 5 BEDROOM/ 2 BATHROOM ALMOST 3,000 SQFT LIVING AREA SPACIOUS HOME  WITH HIGH CEILINGS. KEY WEST STYLE PATIO WITH LUSH LANDSCAPING AND BUILT IN KOI POND, PERFECT FOR RELAXING OR ENTERTAINING. HOME IS LARGER THAN TAX ROLL AS PER OWNERS. VERY EASY TO SHOW. OWNERS ARE MOTIVATED, BRING ALL OFFERS! CALL OR EMAIL ME FOR MORE INFORMATION: 786-302-5343/ MALENYSHERNANDEZ@GMAIL.COM

Freddie Mac recently released the results of its Primary Mortgage Market Survey®, showing mortgage rates easing to new all-time record lows for all products covered in the survey helping to keep homebuyer affordability high. The average for the 30-year fixed mortgage rate has been below 4.00 percent for six consecutive weeks. The survey concluded that the 30-year fixed-rate mortgage averaged 3.89 percent, with an average 0.7 point for the week ending January 12, 2012, down from last week when it averaged 3.91 percent. Last year at this time, the 30-year FRM averaged 4.71 percent. The 15-year FRM this week averaged 3.16 percent with an average 0.8 point, down from last week when it averaged 3.23 percent. A year ago at this time, the 15-year FRM averaged 4.08 percent. Additionally, the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.82 percent this week, with an average 0.7 point, down from last week when it averaged 2.86 percent. A year ago, the 5-year ARM

Despite the “doom and gloom” in today’s headlines, in the current economic climate, homeownership is more affordable than ever, thanks to low interest rates and lower home values. For those buyers who manage to have a 20% (or more) downpayment, they believe this will get them the lowest monthly mortgage payment. However, simply because buyers can afford to put down this amount does not necessarily mean they should. Those buyers who have saved enough to put 20%—or more—down on the purchase of a home may want to consider another approach—preserving some of their cash for savings, investing or other purposes. It may sound counterintuitive, but with today’s interest rates and the competitive pricing of private mortgage insurance (MI), borrowers can retain some of their money by putting less money down on a home—say only 10%—and still get a low monthly payment. Real estate professionals have a responsibility to all home buyers to help them evaluate their purchasing power based on existi

731  W 39 PL HIALEAH, FL 33012 $344,500 5 BEDROOM/ 2 BATHROOM ALMOST 3,000 SQFT LIVING AREA SPACIOUS HOME  WITH HIGH CEILINGS. KEY WEST STYLE PATIO WITH LUSH LANDSCAPING AND BUILT IN KOI POND, PERFECT FOR RELAXING OR ENTERTAINING. HOME IS LARGER THAN TAX ROLL AS PER OWNERS. VERY EASY TO SHOW. OWNERS ARE MOTIVATED, BRING ALL OFFERS! CALL OR EMAIL ME FOR MORE INFORMATION: 786-302-5343/ MALENYSHERNANDEZ@GMAIL.COM

The state of the housing market has been prompting homeowners to get creative when putting their home on the market, including over-the-top open houses and other pricey improvements. The Paint Quality Institute suggests that there are certainly less expensive ways to make a home stand out in the sea of homes for sale. The source suggests that the outside of the home should definitely stand out and a fresh coat of paint can sometimes do the trick. A spokesperson for the company also says that the front door is also relatively important. A freshly-painted exterior tells potential buyers that you take care of your home, while the entry way inside is just as important. Homeowners should repair any damage in the foyer or entryway of the home, and the source says light colors such as white or off-white are preferred by buyers. Other rooms in the home should also be painted in a neutral color, and can be a fun do-it-yourself project. Painting the exterior of a home can take a lot of tim