Miami real estate news and information

The Home Buying Process

Ready to move into a new home but not sure where to start? Here’s a breakdown of the process from start to finish.

To start, enlist the services of a Realtor you trust and can rely on.

In working with buyers, we like to chat with you and find out what you’re looking for…location, size, design style, pool, yard, school preferences, gated community, and ideal price range. Once we have your ideal home in mind, we sort through the homes that fit your needs and we make appointments to view them with you. Once you narrow it down, we can go back for a second look and make an offer on the home you want.

typical seller's expensesWe will present the offer to the selling side and negotiate the contract out on your behalf. When the terms are agreed to and the contract is fully executed, there will be an inspection of the home. During the inspection, an inspector will take a look at everything- plumbing, electric, structural, pests, mold- and give you a report. Depending on the results, you can continue moving forward with the purchase or move on to another home.

If you’re obtaining financing for the purchase, your application will be submitted very shortly after the contract is fully executed. The file will go to underwriting, where the bank will review your finances and qualify you for the loan. The bank will also order an appraisal of the property to determine the value of the home they are going to lend on. With a loan commitment in hand, you’re on the track to close.

There will be a survey, title and lien searches in order to provide clear title.

Once we have the clear to close, there will be a walk thru of the home to make sure everything is still the way it was agreed to in the contract and that appliances and any inclusions are in fact still at the property. Then…closing, where documents will be signed, title transferred to the buyers, funds transferred and keys exchanged. The home is yours!

The home buying process can be intimidating, but we can help you navigate through it smoothly, ultimately finding you your dream home. Don’t wait, contact the Restivo Hechtman Team today!

To receive my blog posts directly to your inbox, click here to subscribe or here to make a comment

Election Day

20dd386d-30fd-49d4-a550-b7eec3f275ad

HAPPY ELECTION DAY

No matter what side you’re on, get out there and vote!

If you decide neither one is for you and want to leave the Country, we can sell your home…call us today!

To receive my blog posts directly to your inbox, click here to subscribe or here to make a comment

Recently Sold in Palmetto Bay Gated Community

1The Restivo Hechtman Team recently sold their listing in the Gated Community of Flamingo Gardens in Palmetto Bay. The 5 bedroom 4 bathroom home features high ceilings, Italian tile and wood floors along with a new granite and stainless steel kitchen. French doors open to the pool/patio and “beachfront canal.” Outdoor features include a covered patio, a side yard with water feature, outdoor lighting and opulent landscaping. The home also boasts a wood burning fireplace, accordion shutters and a new roof in 2006.

7This beautiful home was listed for $799,000 and sold for $788,000.It was a pleasure working with our Sellers and a big welcome and congratulations to the new owners.

If you’re interested in selling or buying in Palmetto Bay (or South Florida), contact the Restivo Hechtman Team today!

To receive my blog posts directly to your inbox, click here to subscribe or here to make a comment

Pinecrest Tropical Oasis – Open House This Weekend

IMG_1631Join the Restivo Hechtman Team for an Open House on Saturday 11/5 and Sunday 11/6 from 2-4 PM at 10651 SW 65 Ave in Pinecrest. This tropical inspired home was renovated, complete with new bathrooms and a chef’s kitchen that’s been featured in commercials. The home features 4 bedrooms, 3.5 baths, lush tropical landscaping with a hot tub and oversized pool. The grounds are filled with tropical fruit trees, exotic plants and mature palms…it’s like your own Fairchild Tropical Gardens! Imagine enjoying a cup of coffee on the terrace while listening to the palms swaying around you…your private escape from the hustle & bustle of everyday life.

Stop by and preview this unique, one of a kind home, offered at $1,595,000. If you can’t make it this weekend, contact the Restivo Hechtman Team for more information and to set up a private showing. This is truly a gem, unique in so many ways. If you’re looking for a Coconut Grove vibe and want to live in Pinecrest, this combines the best of both worlds. Don’t miss it!

To receive my blog posts directly to your inbox, click here to subscribe or here to make a comment

Join Us For EWM Open House Weekend

The Restivo Hechtman Team will hold open houses this weekend…October 29 & October 30. Join Us!

 

screenshot_2016-10-27-20-12-54-110651 SW 65 Ave in Pinecrest

This tropical oasis boasts 4 bedrooms and 3.5 bathrooms. The home has been updated while maintaining it’s original charm…impact windows, updated bathrooms and a chef’s kitchen which has been used in commercials. The property features an oversized pool, hot tub, a variety of tropical plants and fruit trees set among trails and pathways.

Offered at $1,595,000.

OPEN SATURDAY & SUNDAY 3-5 PM

 

17740 SW 141 St in Palmetto Bay

This pool home features 5 bedrooms, 4 bathrooms and a guest cottage! The main home features 4 bedrooms, 3 bathrooms while the cottage is a 1/1 with it’s own kitchen, living room and dining room.

Offered at $665,000.

OPEN SATURDAY & SUNDAY 12-2 PM

 

Take a break from Halloween festivities and check out these beautiful homes. Contact the Restivo Hechtman Team for more information or to set up a private showing.

To receive my blog posts directly to your inbox, click here to subscribe or here to make a comment

Biggest Mistakes Sellers Make

We see a lot of homes while working with our buyers and sellers, and there’s a few mistakes sellers tend to make…Price, Marketing and Condition. A seller needs to price the home correctly, the home needs to be in good condition and it must be marketed in order to reach the most potential buyers.

alextphoto-com-restivo-6330-sw-107th-st-twilights-1-webLet’s begin with PRICE. Most of us think we have the best home out there, and though it may be worth a whole lot to you, it’s important the home be priced where the market dictates it should sell. You need to know market trends, what’s recently sold in your area and what’s currently for sale in your area. You don’t want to be the priciest house in the neighborhood, because it will take a long time to sell. Buyers are savvy and have access to loads of information online and they will know about every home in the area they are looking for. The home needs to be competitively priced for a quick turnaround. We will help you run the numbers and compare similar homes in your area in order to determine a price for selling your home.

Next, let’s move to MARKETING. It’s extremely important for your home to be marketed everywhere it can be in order to maximize the exposure and let as many buyers know it’s available to them. The marketing starts with great photos. The photos are the first impression for the buyer and many times are the determining factor for whether or not they want to make an appointment to see a home. We bring in professional photographers to get the best shots of a home and use them in all our marketing pieces. Not only are pictures important but so is how marketing pieces are worded. We like to create intrigue and make a buyer feel like your home is THE one for them.

The Restivo Hechtman Team markets your home in many different ways- thru Christies Luxury Real Estate, the EWM Mailer, the Miami Herald, the New York Times, via our blog on MiamiRealEstateCafe.com, on EWM.com, and thru social media like Facebook and Instagram. We have International reach and a wide sphere of influence both locally and internationally.

alextphoto-com-restivo-6330-sw-107th-st-14-webFinally, the CONDITION of your home. Our homes are where we’re most comfortable and where we don’t have to put on a front for the outside world…unless you’re selling that home. We have to live a little differently when the house is on the market because it needs to be ready to be shown at the drop of a hat. When a buyer sees something they like, time is of the essence and you want to get them into your home as soon as possible. The home needs to be clean, smell good (especially important if there are pets), and things need to be put away. If you need help preparing your home, we enjoy assisting you with staging and organizing ideas. Essentially, it should look like a show home. Now-that’s not always easy with everyone’s busy lives, but the cleaner, less cluttered it looks will make the home show better and will allow buyers to envision themselves living there.

There are many keys to selling your home, but these three are important. The Restivo Hechtman Team can help you with these and other aspects of selling, and would love the opportunity to sit down and discuss listing your home for sale. Give us a call today and let’s get the ball rolling!

To receive my blog posts directly to your inbox, click here to subscribe or here to make a comment

Pre-Construction Opportunity in Coral Gables

If you’re in the market for a pre-construction home, check out Laguna House. It’s a new project being brought to the heart of Coral Gables, at 4220 Laguna Street. We recently had the opportunity to visit the showroom and see what it’s all about.

Laguna House will be made of just 13 residential units…12 units and one penthouse on the 10th floor. The building will feature 2 units per floor (with the exception of the penthouse) accessed with elevators opening directly ilaguna-housento the unit, high energy efficient glass windows and doors, private balconies and summer kitchens, as well as a pool and sun deck on the 4th floor.  Interior features include custom Italian kitchens, imported floors and vanity tops in the bathrooms and a spa-like master bathroom. Each unit will feature open concept designs with a modern feel while still maintaining the integrity of the classic Coral Gables Mediterranean design.

The project is brought to you by the Rogers Development group- the group behind projects like One Village Place and Gables on the Green. Units will begin at 3,000 square feet, while the penthouse will be over 6,000 square feet. The ground floor will feature retail space as well. Average price per square foot is $732, with prices ranging from $1.9M – $3.2M (for the penthouse).

The building will be located next to Merrick Park which boasts shopping, dining and a new cinema currently under construction. It’s also centrally located with easy access to Coral Gables dining and shopping, an easy route to the airport, and not far from Coconut Grove, Pinecrest, Brickell and Miami Beach.

Construction will begin when 50% are under contract and they are close to that and ready to go. Contact the Restivo Hechtman Team today for more information and to set up a meeting to see the showroom. Even if you’re not looking for this project, we would still love to help!

To receive my blog posts directly to your inbox, click here to subscribe or here to make a comment

Renting vs Buying

If you’re in the market for a new home, you should know the differences in renting vs buying. Here is a chart, presented by Steve Harney, showing the cost of renting vs buying, historically and now. You’ll notice that the percentage of income needed to afford a median home is LESS than what you need for median rent!

Buying a home can be a lot of money up front… you’ll need a down payment – the lump sum due at closing, usually a percentage of the purchase price. It’s usually 20% down, but some lenders will do as low as 3.5%. You’ll have monthly mortgage payments, which include principal and interest payments, taxes and homeowner’s insurance. During the buying process, you will have inspections done and the lender will order an appraisal. There are closing fees such as state and local taxes, loan origination fees and recording fees, among others. Usually these closing costs run 2%-4% of the purchase price.

When you buy a home, you build equity(ownership) over time. You get tax breaks-like Homestead Exemption and some Federal Tax Exemptions. Besides the financial benefit of buying, you may also improve the home to your liking. You will need to be ready to maintain the home, or call services to help maintain, as you have no landlord to ask for help.

20161014-rent-vs-buy-kcm-768x994Renting ends up being less money up front…you usually need first month’s rent, and 2 months security deposit or 1 months security and last month’s rent. If it’s a condo, there is almost always an association which runs credit and background checks as well as an application fee. If it’s a home, the landlord will usually request credit and background check as well, but there is no association fee. You will incur the cost of movers each time your lease comes to an end, many times you will be paying utilities such as electric and sometimes the water bill.

If you’re renting, you’re paying the mortgage for your landlord but if you own your home, the money you spend every month goes towards paying off your mortgage and owning the home! If you’re paying for it, the mortgage might as well be your own.

Renting is great if you’re going to be in that area temporarily, or if you’re moving to a new city and aren’t exactly sure of where you want to settle down. It’s a great way to get a feel for a neighborhood and everything that goes with it. In rentals, the landlord is usually responsible for maintenance and repairs, and that’s a comfort to many people.

It all comes down to what’s best for you… do you have enough to cover the upfront costs of purchasing a home? Are you ready to be fully responsible for maintaining a home? Are you ready to move to a specific area and settle in or do you want to explore your options and test out living in an area before buying? These are some of the questions you need to answer in order to decide if buying or renting is for you.

Whether it’s renting or buying, the Restivo Hechtman Team is here to help. We can help you run some numbers, explore neighborhoods, lend an ear and ultimately find you the perfect home. Contact us today to get started.

To receive my blog posts directly to your inbox, click here to subscribe or here to make a comment

Open House Sunday – Palmetto Bay

12Don’t miss a chance to preview this wonderful Palmetto Bay Pool home. The main house features 4 bedrooms and 3 baths, while the separate guest cottage boasts 1 bedroom and 1 bath. The home features a beautiful swimming pool that can be seen from most rooms in the home. The cottage features a kitchen, living and dining area – perfect for guests or for whomever you choose!

Offered at $665,000, the home will be open on Sunday October 23 from 3-5 PM…Join us! If you can’t make the open house and would like to preview the home, contact the Restivo Hechtman Team for more information and to schedule a private showing.

To receive my blog posts directly to your inbox, click here to subscribe or here to make a comment

Miami Welcomes Autumn … Stone Crab Season Has Started!

imageUnlike much of the country (which celebrates autumn’s seasonal changes with the more traditional apple picking and enjoyment of fall foliage),  Miami has our own special way of welcoming in the fall.

Miamians mark the start of OUR fall, effective  the day “Stone Crab Season” opens, and that was this weekend!

Officially underway as of October 15th…. Stone Crabs are back … and Joe’s Stone Crab is open again for business thru May 16 ( Joe’s  is an iconic Miami Beach restaurant, which started as literally just a shack  … in the same spot … and is now in it’s 103rd season):  Joe’s Stone Crab –  111 Washington Avenue – Miami Beach.

I’m sure the lines are exceptionally long, as ususal …  I know of many who will be waiting on line, but some of us will wait a few days before attempting entry.   It’s a fun way to welcome in the Fall, Miami Style.

To receive my blog posts directly to your inbox, click here to subscribe or here to make a comment