South Florida On The Market

Miami metro home sales in the third quarter jumped 51% from a year ago, according to the Miami Association of Realtors . Home sales, including existing single-family homes and condos, totaled 6,412, up from 4,239 last year. Existing condo sales increased 48%, and single-family home sales went up 47%. Statewide sales for Florida also saw an increase from last year, with single-family homes up 12% and condos up 13%. Nationally, the National Association of Realtors reported home sales fell 0.1% from the second quarter, though they increased 17% from a year earlier. Miami's home sales have increased 13 consecutive quarters dating back to the third quarter 2008, according to the local realtor association. "Strong demand from international buyers is fueling robust sales activity in Miami despite low consumer confidence and high unemployment," association chairman Jack Levine said in a Wednesday release. "Local sales are expected to set a record this year that sho

1. NOT ENOUGH MARKETING 　 Gone are the days when an agent could simply put a sign in you front yard, place your listing on the internet, do one or two open houses and wait for a buyer. Today's top performers launch an aggressive marketing plan that includes listing open houses for other real estate agents, newspaper ads, weekend open houses, listing flyers and placements in multiple websites. Computers and the Internet also have changed the face of real estate. According to the National Association of Realtors, today more than one-third of all home buyers use the Internet for house hunting. The best real estate agents are computer-savvy. They have your listing in color on their laptops to show clients and communicate frequently via e-mail, a particular boon when working with out-of-town buyers. 　 2. BAD AGENT 　 Yep, they exist: Real estate agents who mislead, misfire and misbehave. Their bad advice can cost you plenty of time and money. Some real estate agents will a

Are short sales getting easier? Some homeowners are reporting that banks are now not only more willing to consider a short sale, but are even offering incentives to complete a short sale. For example, a homeowner in Chicago says his lender approved his short sale and then gave him a $20,000 check after the deal was finalized for selling the home as a short sale instead of letting it sink into foreclosure. Lenders accepting a lower mortgage payoff from an underwater seller traditionally isn’t thought of an easy transaction to complete. Lenders weren’t so willing a few years ago. But as the number of Americans underwater on their mortgages grow, more lenders are reconsidering as they try to avoid the extra costs incurred to their bottom-lines that a foreclosure can cause. For 2011, short sales accounted for about 8 percent of total home sales, and rose 7 percent over 2010 totals, according to CoreLogic data. Short sales are up by 59 percent year-over-year in Illinois, 32 percent in Michi

President Obama has opened up refinancing opportunities to more Homeowners who owe more than their home is worth (a.k.a. “underwater”) through the Home Affordable Refinance Program (HARP)! If you are wondering what this means...and if you can benefit...here is some helpful information. The President's proposal is not a new program, but a revision to the current Home Affordable Refinance Program (HARP). One of the biggest changes under new HARP provisions: Now Homeowners can refinance no matter how “underwater” they are! Next, an Appraisal is not necessary IF Fannie Mae or Freddie Mac can electronically estimate the value through their valuation models, saving YOU Time & Money! Keep in mind that these updates to HARP apply only to people whose mortgage is currently secured by Fannie Mae or Freddie Mac...and whose loan was securitized by Fannie Mae or Freddie Mac prior to May 31, 2009. How do I know if my loan is owned or has been guaranteed by Fannie Mae or Freddie Mac?

 (Sunrise, Florida) - Prudential Florida Realty announced their growth in Palm Beach County as Broker/Owner Scott McVey and the Sales Professionals of Blue Water Realty merged their office with Prudential Florida Realty’s Boynton Beach Branch Office and Family of Services.  “We are excited about the merger with Prudential Florida Realty and want to thank all those who have helped us become successful over the years.  With Prudential Florida Realty’s strong reputation throughout the country coupled with a respected world-wide brand, we know that the transition will be to the benefit of all we continue to service and have served in the past,” commented McVey, Broker/Owner, Blue Water Realty.  “I am thoroughly impressed with all Prudential Florida Realty has to offer.  Our passion for the industry and core values merges together nicely - offering a superior customer experience with integrity, trust, and an uncompromised reputation!” “We are very pleased to welcome the Sales Profession

Listing a home with obvious, even if small, problems are one of the biggest mistakes sellers make. Buyers prefer problem-free houses and as a seller, your top priority must be to overcome any obstacles between you and the sale. Fixing stuff that’s broken and selling a home that appears to have been well maintained will often overcome any real or imagined problems a buyer will have. Conversely, not fixing problems sends a loud message that you don’t care enough about your home. And, don’t forget, the home inspector will not miss problems, even if the buyer didn’t see them. In today’s slow housing market, seller’s should fix anything that a home buyer would expect to be working on the day of the sale, including: 1. Odors and Smells: Obviously, a big turn off for buyer’s in any market, and often poses health concerns. Stinky houses don’t sell. Find the source of of your problem and remove it.  2. Appliances: All appliances advertised as a part of the sale should be clean and in wo

In May 2011, Bayfront 2011 Property LLC, a wholly-owned subsidiary of Genting Malaysia Berhad, purchased about 13.9 acres of land in downtown Miami for US$236 million with plans to build a mixed-use development. The parcel includes the building currently housing The Miami Herald Media Company and an adjacent parking lot. Resorts World Miami, as the development will be called, will include hotel, convention, entertainment, restaurant, retail, residential and commercial facilities – all designed in accordance with the City’s comprehensive zoning code, Miami 21. The resort will include more than ten million square feet of development, and will cost about US$3 billion. All told, Resorts World Miami is expected to create 15,000 direct and indirect construction jobs and another 30,000 direct and indirect positions on an ongoing basis. The site is bounded by 800 feet of waterfront on Biscayne Bay to the east, MacArthur Causeway (part of I-395) on the south, Biscayne Boulevard (part of U