Miami Real Estate

A lease-purchase can sometimes  be a good alternative for buyers  …  especially given the current real estate market in Miami.  

If you are relocating, a lease-purchase offers you the ability to lock in a purchase price (and yet still lease!)  …until you can sell the home you currently own.

Alexandra and I have two separate lease-purchase contracts …  in Miami (Pinecrest, Florida)… that we put together this month.  Two transactions really don’t constitute a wave …  or a trend for that matter … but it’s an option we thought worth sharing with you in our real estate blog  MiamiRealEstateCafe.com.   The terms can be worked out (as they are in any transaction!): to the benefit of both parties. Read the rest of this entry »

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European buyers are divided almost evenly between those wanting a condo and those wanting a single family home. 

47% of Western European real estate acquisitions in Florida are for single family homes.  41% are for condos … with a handful looking for townhouses.

And 90% of them are paying cash.

Looking to buy, sell or relocate?  If you’re looking for a local Miami real estate agent to work with, we would love to hear from you.  Call us any time.  You can reach us on our direct line 305 793-1365  or email us at restivo.v@ewm.com .   Vicki & Alexandra Restivo @ EWM Realtors.

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We were showing property this week to a buyer looking for a home  priced under $500K …   Let me tell you  – There are SO many well-priced (nice) homes in Miami available  for under $500K  right now.  

Because of the pricepoint for these buyers we are working with, an FHA loan is an option. 

And we wanted to post a blog  for your benefit  … and for others of you who might looking to buy …   who might be in a similar situation:

The current loan limit on FHA loans in Florida for both  Miami-Dade and Broward counties is $423,750.00  for single family homes. 

In a prior post on MiamiRealEstateCafe.com we mentioned that FHA loans  are not limited to first-time home buyers.  

That’s true.  FHA isn’t  limited to first-time home buyers…. and that makes it a viable option for many who are looking to buy a home.

FHA loans are available to qualified individuals looking to finance a home purchase …  up to $423,750.00  …  with a loan amount of  up to 96.7% of the purchase price  …  and a downpayment of  3.5% in Miami-Dade and Broward countires. 

Call us when you’re ready to move …   Whether you’re buying or selling or relocating, we look forward to helping to make your next move a good one.   Vicki & Alexandra  Restivo …  The Restivo Team …  EWM Realtors.  Direct number:  305 793-1365  E-mail:  restivo.v@ewm.com

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If you’re contemplating buying your first place, try to stay within your comfort zone and not get swept away.  As local real estate experts in South Florida, we want our buyers to have access to the right information so as to make better decisions. 

1) Don’t Guess …. Determine what you can afford:

Figure out your financial comfort zone,  before  you really start looking for a place to buy.    Start by jotting down the basics:  your  income,  savings,  any portfolio investments …  account numbers,  income tax returns …  along with a list of contact names and numbers  for any banks/loans/investments . 

Make a list of  expenses …  Include groceries, gas, car payments, insurance premiums,  loans you are in the process of paying off (including credit card balances).    Those will help give you a better idea as to what you can afford  …

You will have additional expenses as a homeowner -  above and beyond what you have now, as a tenant or living rent-free .   Insurance, property taxes and your monthly mortgage  … along with maintenance,  upkeep, painting,  landscaping, yard work, pool service, household repairs (including appliances, air conditioning, and roof) all  fall on the homeowner.

2) Get pre-approved … Make  sure you are properly qualified for a mortgage: 

Talk with a  loan officer and get  pre-qualfied for a loan.  You’ll want what’s known as a pre-approval letter though  (or better still DU  approval  – “direct underwriting approval”)- before you fall love with a house or make an offer.  And by the way,  Read the rest of this entry »

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Now is the time to apply for your 2012 Homestead Exemption! You must apply between January 1st and March 1st.  This will mean substantial savings on your real estate taxes if you purchased a home in Broward County anytime in 2011. If you do not apply by March 1st 2012, you will lose your eligibility for this year.

APPLY IN PERSON at: Read the rest of this entry »

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TO ALL NEW HOMEOWNERS:  Time to apply for 2012 Homestead Exemption … now!

To be eligible, you must have bought a house in 2011… and … you must file your application for Homestead Exemption between January 1st and March 1st of 2012 .

This will mean substantial savings on your real estate taxes. If you do not apply by March 1ST , you will lose your eligibility for the year 2012.

GENERAL QUALIFICATIONS AND INFORMATION:

 To qualify for the Homestead Exemption, the applicant must at minimum meet the following criteria as of January 1st :

* Be a U.S. citizen or legal resident.

* Own the property (i.e., have legal or equitable title).

*Occupy the property as his/her permanent residence (to the exclusion of all others)

* Only those qualified persons listed on the exemption application will receive the exemption benefits. If the property is held jointly by husband and wife, either party may apply in person for the homestead exemption. Read the rest of this entry »

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We are but a dot in the vastness that is our world …. We … Our Planet … Our Lives.  Carl Sagan writes:

“Look again at that dot. That’s here. That’s home. That’s us. On it everyone you love, everyone you know, everyone you ever heard of, every human being who ever was, lived out their lives. The aggregate of our joy and suffering, thousands of confident religions, ideologies, and economic doctrines, every hunter and forager, every hero and coward, every creator and destroyer of civilization, every king and peasant, every young couple in love, every mother and father, hopeful child, inventor and explorer, every teacher of morals, every corrupt politician, every “superstar,” every “supreme leader,” every saint and sinner in the history of our species lived there-on a mote of dust suspended in a sunbeam.

The Earth is a very small stage in a vast cosmic arena. Think of the endless cruelties visited by the inhabitants of one corner of this pixel on the scarcely distinguishable inhabitants of some other corner, how frequent their misunderstandings, how eager they are to kill one another, how fervent their hatreds. Think of the rivers of blood spilled by all those generals and emperors so that, in glory and triumph, they could become the momentary masters of a fraction of a dot.

Our posturings, our imagined self-importance, the delusion that we have some privileged position in the Universe, are challenged by this point of pale light. Our planet is a lonely speck in the great enveloping cosmic dark. In our obscurity, in all this vastness, there is no hint that help will come from elsewhere to save us from ourselves.

The Earth is the only world known so far to harbor life. There is nowhere else, at least in the near future, to which our species could migrate. Visit, yes. Settle, not yet. Like it or not, for the moment the Earth is where we make our stand.

It has been said that astronomy is a humbling and character-building experience. There is perhaps no better demonstration of the folly of human conceits than this distant image of our tiny world. To me, it underscores our responsibility to deal more kindly with one another, and to preserve and cherish the pale blue dot, the only home we’ve ever known.” – Carl Sagan

Guest Contributor to MiamiRealEstateCafe.com  … Michael Restivo  … Mike Off The Map  writes:

On December 24, 1968, the crew of Apollo 8, the first men to orbit the moon, took an iconic of our fragile planet. It was the culmination of a difficult year, assassinations, war, unrest, and destruction had belittled our world. Yet when you truly look at this photo, all our imaginary borders, our preconceived notions, our prejudices, our beliefs, and our differences disappear. We are but men, unified in our common biological lineage, we all have aspirations, hopes, dreams, joys, and pains.

Why do I write this? I am nothing but a man who writes about the world, this beautiful land that we all share together. I do not wield the power to make change, but it does not mean I am powerless. I write this because as we celebrate this holiday of joy, love, and family, we are still not a world unified. Our country is divided by animosity, prejudice, and dare I say hate. Differences that were once revered and celebrated are now feared and under attack. We are a planet at war, not between nations, not between beliefs, but between man. Over the past year I have watched “tolerance” become such an obscure word, as people are conditioned to believe that love and hope is reserved for a select few.

But for my generation this is not the case. We can be the generation that restores a sense of humanity in this world. There will always be conflict, it is a trait among human beings. But how we treat each other, and how we look at those different from us will influence the moment that we turn the tide. I hope, that our generation will be the one that uses the minds of those who make weapons of war, and turns them into weapons against disease. I hope that it’ll be our generation who bridges the gaps across culture, and learn from each other instead of fearing each other. I hope it’ll be our generation, that creates a gentler discourse between each other, and finds commons in our differences.

Tonight there are those of us are putting that finishing touch on our Christmas tree, lighting a Menorah, or turning and kneeling to Mecca. But there is one thing we are all doing. We are dreaming. We are looking towards a common future where we stand as a single world. My message and my hope to you on this holiday, is that you are at home, that you have found love within your family and friends, and that you are safe.

A very happy holiday to you and your family, and happy travels,

Michael

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The average 30-year mortgage rate is tied with the lowest rate on record- 3.94%, a record set in October. This means it’s a great time to refinance your current home or to purchase a new one. Rates in 2011 have been under 5% all year, with the exception of two weeks this year and many people across the Nation have already taken advantage of these historically low rates.

Contact the Restivo Team if you are in the market for a new home. We would love to help you take advantage of the great opportunities that are available to you.

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There are over 350,000 students right now  in South Florida.  We have the 4th largest school system in the nation  … and of  6-18 year old students  currently attending school in South Florida, they were born in 171 countries, and speak 106 languages.

There’s a niche for literally anyone wanting to move to South Florida …  One can find familiar foods, make friends, experience  multitudes of languages and cultures amd religions,  find  diversity and familiarity of every possible kind …With no  mountains and no snow,  Miami is home to the largest snow ski club  anywhere in the United States…. 

If you’re relocating to  South Florida there is  information available to you here, on both public and private school options as well as specialized education … what’s offered… where school boundaries are …  school locations…  contact information.

MiamiRealEstateCafe.com  is the real estate blog and website  that we created for our clients who are buying, selling and/or relocating to South Florida.  As local realtors in the Miami area, we hope it will be a good starting point for you … 

Whatever questions you have,  whether you are contemplating moving or are ready to buy, sell or relocate,  please  ask.  You are welcome to contact us directly with your specific needs/wants/questions.  We will be happy to work with you, and help  make your next move the best!  The Restivo Team …  We are local Miami Real Estate Agents….and look forward to working with you.   Vicki and Alexandra Restivo  305 793-1365  restivo.v@ewm.com

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With so many people looking to rent or lease now,  the opportunity is ripe for investors.  

Over 50% of all residential real estate purchases in South Florida are cash transactions…   And, by buying in cash, and not paying  a mortgage, you may well be looking at a  higher return on investment (ROI) … 

 The Miami real estate market has been getting stronger … especially for income producing property… (Consult with a knowledgeable accountant or Real Estate Attorney though … as to the benefits of buying in cash vs carrying a mortgage) 

And, given recent real estate trends,  aim toward a  long term return on investment … ( not short).  

That said though, short term investments have been gaining in popularity   …  We’ve seen a rise in the number of  investors  this past year  not only  ”covering their costs”   but  making a profit …   Many of them had no  mortgage … true … but because of a diminshed supply of  prime rental units in South Florida, there has been an upswing in rental pricing.  

The strategy for investing is normally to Read the rest of this entry »

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