Miami real estate news and information

Archive for the 'REAL ESTATE NEWS' Category

SOLD for OVER ASKING PRICE: 6625 SW 97 Ave, Miami

97 aveThis is the kind of information that should be all over the local Miami newspapers.  Miami Real Estate is selling … and the real estate market is heating up faster than many of us would have imagined.

6625 SW 97 Avenue in Miami was under contract the first day it went on the market … and it closed in just over a month … at well OVER THE ASKING PRICE.   Listed at $689,900.00 it  just closed for $725,000.00.

If you are looking  for an experienced real estate agent in Miami to sell your home…   Contact the Restivo Team at EWM here or  at (305)  793-1365 or  (305) 632-0164.  

We are happy to assist you  … buying, selling, leasing, or building.

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EWM Names Top 2% of Realtors Nationally

top miami realtor

 

Congratulations to each of our colleagues at EWM Realtors  named among the TOP 2% of Realtors Nationally!

The Restivo Team… We are honored to be among the  Top Producers in the Nation …   proud of the company we keep…  and we would love to help you sell your house or find your dream home.

Give us a call today!   305 793-1365 (Vicki) …  or …  305 632-0164 (Alexandra)

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FHA Financing Questions Answered

226ASP6179944780What is an FHA Loan?   Who qualifies?

In a nutshell – FHA mortgages are home loans which are insured by the Federal Government…  Interest rates on FHA loans are similar to those of conventional loans…. and  FHA financing is a good option for home-buyers who have somewhat limited savings or limited downpayment options.  If you are a first-time home-buyer FHA is an option worth exploring.  

Up until 2006, FHA funding requirements had strict cosmetic requirements … but that no longer applies.  FHA  requirements are pretty much in line with conventional  appraisal requirements now. Read the rest of this entry »

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Creative Funding of your Earnest Money

moneyThe Real Estate  market  is heating up… South Florida is already on a roll …   first quarter of 2011.  In Miami, it’s still very much a buyer’s market.   

If you are thinking about buying, and want to explore  creative funding  there are  a number of acceptable alternative sources of funds that you can use  to purchase property. Read the rest of this entry »

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Lenders Require 2 Appraisals in Miami

appraisal

Mortgage lenders often require 2 appraisals  on real estate transactions priced over $1.2  million in Miami.   

We just jumped that double appraisal hurdle … with a surprising outcome …one I’ve yet to see before . 

I wonder if anyone else has encountered this… and if so, please share!.   Read the rest of this entry »

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Hiring a Top Realtor … How to Get the Most for Your Money

hand shake

What will it cost you to hire a Top Realtor?    

Honestly, do you really want to give away 6% of your sales price to a real estate agent?   Isn’t that a bit over the top? 

Why pay the ‘full fee”?  According to  The New York Times article  published on January 28, 2011 entitled  “You Don’t Have To Pay It” …   you certainly don’t have to pay it… and  by “IT” the New York Times is referring to a 6% commission!  Read the rest of this entry »

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Pinecrest Showing Fewer Distressed Sales

In the last 6 months, there have been 81 sales of Single Family Homes in Pinecrest. Of those, 10 were Short Sales, 2 were Foreclosures and 69 were regular sales.

Those figures seemingly clash with the figures that Dade County has for Foreclosure and Short Sales, with those accounting for 40-50% of property sales in Miami Dade.

If you’re looking to buy or sell in Pinecrest, contact the Restivo Team today.

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Realty Trac Reports 24% of Home Sales Are Foreclosures

foreclosure notice - miami real estate cafe

Realty Trac reports that currently 24% of  residential home sales are FORECLOSURE property.   

With the shear volume of foreclosure properties on the market  (and  foreclosures expected to rise),  IF YOU PLAN TO SELL YOUR HOUSE over next couple of years, you might do well to seriously consider listing and selling now,  before the real estate market  is burdened by additional bank-owned distressed property and short sales.

We will be happy to talk with you about the pros and cons,  so please feel free to contact The Restivo Team  either by phone or via email here.

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Cost vs. Price – Home Buyers Can Easily Understand the Difference

THE SINGLE MOST IMPORTANT THING FOR YOU AS A HOME-BUYER (BESIDES “LOCATION”) IS “HOW MUCH THE PROPERTY WILL COST” YOU.

COST is going to be determined by 2 things:

1) YOUR PURCHASE PRICE (and hence, whether you buy … or not) …  and

2) YOUR MONTHLY MORTGAGE PAYMENT (WHICH WILL BE DETERMINED BY YOUR LOAN AMOUNT AND THE PREVAILING INTEREST RATE).

This morning, I was analyzing the projected numbers (COSTS) for home-buyers  we are working with (young executives for whom we are putting in an offer on their first home). 

We are in the throws of negotiation on their behalf … and every penny matters

If you follow this blog, you have access to information and insights that are key to solid decision-making, whether you are buying OR selling. Read the rest of this entry »

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TV Show Producing Story on Condo Living … and Looking to Interview Miami Condo Owners

Black Microphone

MIAMI CONDO OWNERS:  “There is a  TV show  looking to produce a story next week on unexpected condo costs (which the owners can’t control.)   The producers want to profile a Miami  condo-owner (close to retirement … or in a  fixed income situation) … struggling financially due to an increase in maintenance costs (or special assessment /or fee of some sort).  The on-camera, taped interview would take place the week of November 1st and would take no more than 2-hours to complete.”

If  you have a story you would care to share on camera,  we can certainly put you in touch with the producers of this particular TV segment – to be shot in Miami next week.   Feel free to call or email the Restivo Team.  Happily, we know of no condo owners who fit the requirements for this segment,  but perhaps one of our blog readers might know of someone?

In that vein, if you are considering buying  property in Miami (or anywhere for that matter), due diligence is the name of the game!  Rely on a Top Realtor and/or real estate attorney.   Please don’t hesitate to call us … The Restivo Team (Our daily blog: www.MiamiRealEstateCafe.com)    (305) 793-1365 or 632-0164

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