Miami real estate news and information

Archive for the 'REAL ESTATE NEWS' Category

Lease-Purchase Wave for 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 Investors Looking to Buy a Piece of Florida 2011 – 2012

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 [email protected] .   Vicki & Alexandra Restivo @ EWM Realtors.

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Getting an FHA Loan in Miami-Dade and Broward

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:  [email protected]

 

 

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How to File for 2012 Homestead Exemption in Broward County

 

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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Homestead Exemption 2011 and 2012 – How to File for Homestead Exemption in Miami-Dade

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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Is Everyone Renting in Miami ?

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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Miami to Cuba … Real Estate Market … Legal to Purchase Homes in Cuba?

Cuba now  has a real estate market?  According to a November 14 article in FloridaRealtors.org – Property sales  became legal in Cuba as of November 10,2011… for the first time in decades.

A sign of economic reform and opportunity?    According to that article the window is open for real estate purchases in Cuba  (although apparently  limited to  those  already residing within it’s boundaries).  Read the rest of this entry »

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Price is the Same … But the Cost is Less

More and more research is coming out showing that it makes great financial sense to purchase a home today .

Whether it be rent vs. buy ratios, income-to-price ratios or income-to-mortgage payment ratios, purchasing a home right now is a bargain compared to historic norms. 

There is a distinct difference between COST of a home today compared to pre-peak prices.  Link here to the entire article, as it appears in the KCM Blog.

The most recent S&P Case Shiller price index indicates that  residential real estate values have returned to 2003 1Q PRICEs.   Then factor in mortgage rates,  and the case for buying a home today becomes even more compelling.

Whether you’re looking to buy, sell, or lease – it’s important to rely on a knowledgeable, local,  real estate expert.  

The Restivo Team at EWM Realtors International looks forward to working with you and making your next move a really good move.  Our direct lines are  305 793-1365 for Vicki  or 305 632-0164  for Alexandra  and  you can reach us here or by email at [email protected] as well…  for real estate in South Florida …  as well as referal assistance internationally.  

 

 

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Florida Ranks #1 in USA for Foreign Investors

Foreign investors account for  increasing numbers of residential home sales in many parts of the United States… and Florida tops the list. 

The four top locations  in the U.S. chosen by foreign  buyers are  Texas, Florida, California and Arizona .   Property sales in those states account for nearly 58% of all residential home sales (to non-residents) between 2009 and 2010 according to the National Association of Realtors (NAR).   

 Florida ranks #1 …  in the United States…   with  31% of all  residential home purchases in the U.S.  by foreign investors / buyers.

If you are considering buying, selling, investing or relocating –  we would love to chat with you.   Please call, text or email the Restivo Team  305 793-1365…   [email protected].    Alexandra and Vicki specialize in residential sales here in South Florida and can also provide you with recommendations of real estate agents elsewhere, internationally or elsewhere in the U.S.  – if you are looking to buy or sell other than in South Florida.   As local real estate experts, we look forward to making your next move the best one.   Vicki and Alexandra Restivo 

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Coconut Grove Home to be Auctioned December 17th – ON SITE

 This  Grove home at 3659 Bayview Road will be auctioned off – on site – at 11am  on Saturday, December 17, 2011 …   Whether you are looking to buy or sell, or are just interested in stopping by to see what’s going on, this may well prove to be a rather entertaining day in Coconut Grove!   Unlike in other parts of our country, there have been relatively few homes auctioned off, on site, in Coconut Grove.

Currently the home is  listed in the MLS for $869,000.00   According to all indications, the house  will go to the top bidder who comes in at/or above $790,000.00  –  There will be a 10% buyers premium  added …   and the MLS does stipulate that the top bidder needs to be prepared to sign a contract on the spot …  and that it be an as-iscash only sale…  It does allow for 3% commission to any selling agent.  Read the rest of this entry »

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