Saturday, May 14, 2011

Mortgage rates at 2011 low, but many won’t benefit

According to a recent AP article, mortgage rates are at a 2011 low and could soon near last year's record lows but this is tempered by the reality that many homeowners are unable to sell their current homes because of underwater mortgages and depressed prices driven further downward by foreclosures in most major cities.

Mortgage rates at 2011 low, but many won’t benefit

Saturday, September 12, 2009

Miami Dade County Property Tax Tool

The Property Appraiser's Office adjusted its online Tax Comparison Calculator this week to accommodate the tentative millage (tax) rate set by the Miami-Dade County Board of County Commissioners.

To access the tax comparison tool, log onto www.miamidade.gov/pa and click on the Tax Comparison Calculator and Tax Estimator tools to view the tax dollar changes to the selected property as compared to last year and estimate the 2009 property taxes. A final budget and final tax rate will be set at the budget hearing on Thursday, September 17.

Property Appraiser Pedro Garcia's office will adjust its online tools to allow property owners to calculate the tax impact of any changes again once the rates become final.

Saturday, November 22, 2008

Sellers conceding, Buyers scooping up bargains

With real estate prices sinking to historic lows and with foreclosures and distressed properties on the rise, many sellers are ready to put their current situation behind them and move on. In many cases this means that prices are being adjusted downward to levels where buyers who had been standing on the sidelines are stepping in and making their purchases. Who are these buyers? I have seen an uptick in first-time buyers in my own South Florida real estate practice, mostly for properties between $150,000 - $250,000. According to a recent article by Michale Giusti, Bankrate.com, It's bargain time for home buyers, the trend is the same in many markets across the country. A Sun Sentinel article, South Florida buyers step up as home prices drop, reports that even some long term investors are stepping in but warns that tightening credit markets and rising unemployment may keep the buying trend in check.

Sunday, June 22, 2008

National Association of Realtors launches new site

The National Association of Realtors has launched a new web site, http://www.housingmarketfacts.com/ , designed to give home buyers and sellers information about the market and sources for additional information.

Sunday, September 23, 2007

GOING, GOING, GONE

The Miami Heral reported that a condo auction held in Miami yesterday resulted in a fairly good turnout. This could be a sign of things to come which is great for those standing on the sidelines waiting patiently for the right time to buy:

Miami had its first condo auction yesterday – 20 new units at Platinum Condominium, a 22-story, 199-unit tower. More than 300 people showed up – investors hoping for a bargain; homebuyers hoping for a good deal; and other condo developers curious to see how auctions work. In the end, the units probably sold for slightly less than what they’re worth on today’s market. Eight of the 20 units required no minimum bid, and selling prices ranged from $181,500 (one-bedroom) to $357,500 (three-bedroom). The sales could be bad news for the developer, however. The selling prices now become comps used for appraisals, and that will impact the value of all other units in the building. “Next week or the week after, look for the lawsuits on this building,” says Jack McCabe, a Deerfield Beach real estate analyst. “Many people who bought (earlier) are now upside down. The place isn’t worth what they borrowed, suddenly, thanks to this auction.”
Source: Sept. 21, 2007, The Miami Herald, Jack Dolan

Saturday, August 04, 2007

Home Gyms Are Latest Must-Have Amenity

The following article points to the growing popularity of the home gym. The
equipment available today is increasingly sophisticated and compact which allows
for a highly functional exercise area even with limited space.


Home gyms are the latest must-have amenity. One-third of new and potential
home buyers say a home exercise room is either essential or desirable,
according to the National Association of Home Builders.WCI, a developer of
luxury homes, began noticing the shift in luxury home design to more
lifestyle-driven floor plans in the 1990s, as baby boomers began demanding
health-related amenities such as home gyms, spas and meditation rooms aimed
at helping them live longer, says Gabe Pasquale, chief marketing officer of
the company’s Northeast region. Ninety percent of the custom homes designed
by Abramson Teiger Architects in California include home gyms. Most are
about the size of a regular bedroom and have room for a treadmill or an
elliptical trainer, plus a multifunctional home-gym machine.

Source: The Associated Press, Della De LaFuente
(07/29/2007)

Saturday, March 10, 2007

Sellers shoot for YouTube hits

A Chicago Tribune article, Sellers shoot for YouTube hits, by business columnist Mary Umberger looks at one way some sellers and buyers of real estate are using video to market and shop for properties.

Try for yourself. Go to YouTube and type real estate in the search field. You will find hundreds of property videos and related items.

The article also refers to Joel Burslem's blog, Future of Real Estate Marketing. Burslem provides valuable insight into the interaction between real estate marketing, technology, and social media.

The article also mentions WellcomeMat.com, which has been dubbed the YouTube of real estate.