Miami Real Estate

IN RESEARCHING RECENT HOME SALES  AND MARKET TRENDS IN MIAMI, I FOUND THAT THE PROPERTIES THAT ARE SELLING IN 2010 ARE SELLING WITHIN 10% OF THEIR ASKING PRICE – CONSISTENTLY.  IN SOME MARKET SEGMENTS, PROPERTIES ARE SELLING CLOSER TO 3-5% OF THEIR ASKING PRICE. 

THAT MEANS THAT PRICING HOMES PROPERLY IS KEY TO SELLING THEM … AND SELLERS AND BUYERS BOTH NEED TO KEEP THAT IN MIND.

IN PINECREST, FROM JANUARY 2010 THROUGH JULY 2010, THERE WERE  JUST OVER 200 HOMES FOR SALE  ON AVERAGE- IN ANY ONE GIVEN MONTH – THAT INCLUDES ALL LISTINGS, ACROSS THE BOARD, IN ALL PRICE RANGES.  OF THE 200 PLUS HOMES LISTED FOR SALE,  20 WERE SHORT SALES.  182 WERE REGULAR SALES.

WHAT SOLD?  Read the rest of this entry »

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YOUR “HOW-TO” GUIDE …  NEGOTIATING A HOME PURCHASE:  HOW TO GET THE SELLER TO TAKE  YOUR  OFFER …  ”7 EASY TIPS”  TO GETTING YOUR OFFER ACCEPTED:

1)  “007″ …   JAMES BOND:     FIND OUT THE SELLER’S TOP PRIORITY  … IT’S NOT ALWAYS PRICE.   IT COULD BE ANY NUMBER OF THINGS:   TIMEFRAME TO CLOSE, ASSURANCES ABOUT YOUR FINANCING ARRANGEMENTS OR COMMITMENT DATES,  OR IT COULD SIMPLY BE THAT THE SELLERS WANT YOU (THE BUYER) TO BE HEAD OVER HEALS IN LOVE WITH THE HOUSE. Read the rest of this entry »

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There are some differences when it comes down to it, and some advantages to one over the other. Here’s the breakdown of the two so you can decide what best suits you and your needs.

Pre Qualification

It’s an estimate of how much you can afford and how much money a lender would be willing to loan to you. It’s best to get this letter before you start looking at houses. You should sit down with a lender or chat over the phone and provide information on your income, debts, assers and a potential down payment amount. Read the rest of this entry »

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Sitting down and considering the things you’re looking for you will save a lot of time and frustration by avoiding houses that aren’t going to work for you.

What are you looking for?

Home Type: Single Family, Duplex, Apartment, Townhome, Condominium.

Interior Features: Air conditioning. Floors-carpet, tile, hardwood. Walk in closets, home theater, fireplace, extensive counter and cabinet space.

Lot Features: Large yard vs small yard. Fenced yeard. Garage, Carport, Patio or deck, Pool, Jacuzzi, extra parking.

Community Features: Schools-elementary, middle and high. Local parks. Recreation centers.

Once you’ve decided what features are important for your new home, then you should rank them in preferencial order based on Location, Price, Size, Amenities & Design, or anything else.

If you have your preferences in mind, we can save you the trouble of seeing houses that will not appeal to you. Now that you have your list (or even if you don’t have one and would like our help creating one), go ahead and contact the Restivo Team- we would love to help you find your new home!

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Most people buying a home find that they need to finance at least part of their purchase. This is one of the first steps to take in buying a new home.- figure out your financial situation and make a reasonable estimate on how you will pay for the purchase. Things to take into consideration are your income, credit rating, other monthly expenses, your down payment and the available interest rates.

How much can you buy?

1. Make an estimate of how much you can afford based on your income. The price of your home shouldn’t be more than 2.5 times your annual salary. A house payment should be no more than 25% of your gross monthly income.

2. Take a close look at your credit report because it’s one of the main measures lenders use to determine your interest rate. The better the credit, the better the lending terms. A higher interest rate means a higher monthly mortgage payment. You should obtain and review copies of your credit report from the three main credit report agencies- Equifax, TransUnion and Experian. The breakdown is as follows: Exceptional=above 780, Great=740-780,Good=690-740, Fair=620-690 and Low=below 620.

3. Take a look at your monthly expenses and assets. You will be asked to give a complete profile of your financial situation to your lender. The amount you will be able to borrow will be determined not only by your income but by your existing assets and debts as well. You’ll need to provide: Social Security number, W2 forms from the previous 2 years, most recent pay stubs, a summary of employment history, the last 3 months of bank statements (checking and savings), Creditor information (student loans, auto loans, credit cards), the past 2 years of Federal Tax returns and a complete record of assets (stocks, bonds, investement accounts, IRA / Retirement plans, life insurance policies, etc). If possible, you should avoid making a major purchase if you’re planning on buying a home in the next few months.

4. Talk to a qualified Lender. They will help you get a more accurate idea of what is feasble for you. You will be able to shop around for the best loan available.

Figuring out how much house you can afford is the first step when deciding to purchase a home. Keep in mind that theyre are just guidelines. There are many other factors that determine how much you can afford.

The Restivo Team would love to help you through the process, so send us a note or call us today! We can provide lenders for you to speak with and will help you find the home of your dreams.

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HOME INSPECTIONS  –   ALTHOUGH THEY GIVE HOMEBUYERS CONSIDERABLE INSIGHT INTO WHAT MIGHT NEED REPAIRING AND CAN TELL YOU WHETHER A HOUSE HAS  DEFECTS TO WARRANT WALKING AWAY FROM -   HOME INSPECTIONS ONLY COVER CERTAIN THINGS.

HOME INSPECTIONS  TYPICALLY DON’T COVER LOW VOLTAGE WIRING (INTERNET, CABLE, PHONE, INTERCOM…).

THE BIGGEST THING SINCE SLICED BREAD IS A HOME THAT IS ELECTRONICALLY PREWIRED FOR EVERYTHING. Read the rest of this entry »

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MOVING TO A NEW CITY  (OR HALFWAY ACROSS THE COUNTRY)  CAN BE CHALLENGING … AND IT CAN BE  ESPECIALLY  HARD ON  KIDS.   CHANGING SCHOOLS AND LEAVING  FRIENDS BEHIND IS TOUGH.  

WE’VE HELPED ENOUGH FAMILIES RELOCATE TO  KNOW THAT THE MORE YOU INVOLVE YOUR CHILDREN IN YOUR MOVE,  THE EASIER IT WILL BE.  

TELL  YOUR KIDS  ABOUT THE MOVE, AS MUCH IN ADVANCE AS POSSIBLE. YOUR FEELINGS WILL BE CONTAGIOUS, SO BE UPBEAT.  BUT DON’T BE AFRAID TO SHARE SOME OF YOUR ”LESS-THAN-100%-POSITIVE-FEELINGS”.   .  

YOU CAN HELP THE KIDS COPE BY INCLUDING THEM IN THE DECISION MAKING AND PLANNING.  WE CAN’T EXPECT THEM TO BE INSTANTLY ECSTATIC ABOUT MOVING.   LEAVING FRIENDS, FAMILY, AND WHAT’S FAMILIAR  TO THEM IS A LOT TO ASK.  LET THEM BE MAD,  SAD,  DISAPPOINTED.  IT’S A PROCESS.  SHARE WHAT YOU’RE THINKING  WITH THEM ….   LISTEN…  LET THEM PARTICIPATE.

YOU DON’T  NEED TO BE OVERLY STOIC, CONFIDENT AND UPBEAT.  IT WORKS TO YOUR ADVANTAGE IF Read the rest of this entry »

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FOR VARIOUS  REASONS,  SOMETIMES  A HOME-OWNER WANTS TO SELL  but wants…   

                                      1)  NO  FOR SALE SIGN  ON THEIR PROPERTY 

                                      2)  NO OPEN-HOUSES     and

                                      3)  NO LISTING    IN THE MULTIPLE LISTING SERVICE (MLS) …   

IN ORDER TO SELL, THE HOME-OWNER RELIES ON A  TRUSTED, LOCAL REALTOR  TO QUIETLY FIND A BUYER FOR THAT PROPERTY… WITHOUT ADVERTISING IT.  IT’S WHAT WE REFER TO IT AS … Read the rest of this entry »

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Celebrating 50 years of graduations, Palmetto High School has something to boast about. The Class of 2010 has many accomplishments to be proud of. In his commencement speech, Principal Howard Weiner was extremely proud to share the many accomplishments of the graduating class.

The class of 2010 produced 15 Silver Knight nominees, a Silver Knight winner and a Silver Knight Honorable mention. There were 4 National Merit Scholars, each of which scored in the top 2% nationally on their 11th grade PSAT. In addition, there were 2 Coca Cola Regional winners, 4 Ford Salute to Education recipients, 5 Pinecrest Rotary Winners, 5 Perrine/Cutler Ridge Rotary Scholars, 1 Metro PCS Award winner and one William Simon Award recipient.

Not only did the class excel in receiving awards, but 95% of the class is pursuing a post secondary education, 72% will be attending a 4 year college, 23% will be attending community colleges, 2% will attend Vocational/Technical schools. In addition, 2% will join the military and 1% will enter the workforce.

The 50th graduating glass received 365 scholarships which totaled more than $13 million. 26 student athletes are college bound and scholarship recipients. $4.3 million in Bright Futures Scholarships were given out. A total of $17 million in scholarships were offered to this class.

The class was accepted to 203 colleges and the graduates will be attending colleges in 38 states, while some students will study internationally in Italy, Chile, Holland, Argentina, Switzerland and Japan.

Not only did the class provide stellar academics, but they excelled in athletics as well. The Miami Hearld recognized the school, once again, as having the number 1 high school sports program in Miami-Dade County for the 09-10 school year. In addition, for the first time in 40 years, a public high school won the Boy’s Swimming championship…the winners were the boys of Palmetto’s swim team.

There were 3 students who did not miss one day of school in their 13 year education-2,340 consecutive days of attendance from K-12th grade!

What a class…Congratulations Class of 2010!

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Were you one of South Florida’s victims… stuck in a holding pattern…  unable to close on your house or condo?  Floridians can breath a sigh of relief  now -  at least until September 30th!  Home sales in coastal areas and flood zones, came to a screeching halt here in Miami a few weeks back,  when home buyers could no longer obtain flood insurance (hence no financing… no  mortgage … and no keys). Real estate transactions for waterfront property became quite the challenge .

Closings that had to be put on hold in coastal areas of South Florida (and nationally) can now be rescheduled.  The United States Senate  just passed the National Flood Insurance Program Extension Act of 2010 (H.R. 5569) ,  extending the National Flood Insurance Program until September 30, 2010.   The bill  the Senate just passed is retroactive, covering the lapse period from June 1, 2010 to the date of enactment of the extension. Read the rest of this entry »

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