South Florida On The Market

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...