Archive for the 'Tips For Buyers' Category
Tax credit closing deadline extension passes Congress | Inman News
July 1st, 2010 categories: Tips For Buyers
Tax credit closing deadline extension passes Congress | Inman News.
| Discussion: No Comments »
Trulia’s Real Estate Index Rent vs Buy Ratio
June 15th, 2010 categories: General RE Info, Market Update, Tips For Buyers
If you are Renting consider Buying!
As we all know Real Estate prices are very attractive and Mortgage Interest Rates are at historically low rates.
The Real Estate Site Trulia published an interesting article about what is a better financial move… Should we Rent? Should we Buy? As per the study that included many several cities in USA including Miami; in Miami, Fl the Price vs Rent Ratio is 8.
“Price-to-Rent Ratio of 1-15: It is much less expensive to own than to rent a home in this city”
www.trulia.com
| Discussion: No Comments »
Single Family Homes – Closed Sales Weston April 2010
May 22nd, 2010 categories: Bonaventure, Emerald Estates, Isles at Weston, Living in Weston, Market Update, North Lakes, San Remo, San Sebastian, Savannah, Sunrise, The Falls, The Islands, The Lakes, The Meadows, The Ridges, Tips For Buyers, Tips for Sellers, Weston Hills Country Club
April was a very active Month! We expect May and June to have high numbers of closed sales due the expiration of the Tax Credit on April 2010. Buyers rushed to have executed contracts by April 30th to be able to take advantage of the Program.
WESTON HILLS COUNTRY CLUB
SAVANNA
THE RIDGES
ISLES AT WESTON
THE MEADOWS
THE FALLS
THE LAKES
THE ISLANDS
EMERALD ESTATES
EMERALD ISLES
SAN REMO
SAN SEBASTIAN
HAMPTON ISLES
NEW RIVER ESTATES
BONAVENTURE
| Discussion: 1 Comment »
Weston Florida Single Family Homes Sold on March 2010
April 7th, 2010 categories: Bonaventure, Country Isles, Isles at Weston, Market Update, North Lakes, Properties in Weston, San Remo, Savannah, Tequesta, The Falls, The Islands, The Lakes, The Landings, The Meadows, The Ridges, The Springs, Tips For Buyers, Weston Hills Country Club
In March 2010 there were 63 Closings of Single Family Homes in Weston, Fl. Of those, 32% were “distress sales” (Short Sales and Foreclosures) which is consistent with the trend of the last few months. Fortunately most of our sales are regular sales and based on Month of Inventory Based on Closed Sales we are slightly in a sellers market with several offers competing for the best values. Buyers are being attracted mostly to properties that need little or none work and preferably with upgrades of which they will pay a fraction of the cost.
Weston Hills Country Club
The Ridges
Savanna
Isles at Weston
| Discussion: 1 Comment »
Are Properties in South Florida Undervalued?
March 30th, 2010 categories: General RE Info, Great Deals, Market Update, Tips For Buyers
Miami and Fort Lauderdale Metro Area Report
As I was reading this article in the South Florida Business Journal Biz I started to play with numbers assuming two What if? scenarios… The article is based on a report prepared by IHS Global Insight and PNC Financial services Group released in March 2010 up to the 4th Quarter of 2009. The study comprises 330 Metro areas including Miami and Fort Lauderdale Metro Areas.
In the Summary they conclude:
- “Two years of relentless house price depreciation finally ended in the Summer of 2009. (…)”
- “We ended 2009 with no extremely overvalued metros, (…)”
- “For the Country as a whole, the housing market is now slightly undervalued. (…)”
Miami Metro Area:
2005 Q4 Price: $ 281,300 Overvaluation 49.4
2009 Q4 Price; $ 180,500 Overvaluation -15.6 (undervalued)
Fort Lauderdale Metro Area:
2005 Q4 Price: $ 259,400 Overvaluation 41.9
2009 Q4 Price; $ 146.600 Overvaluation -24.0 (undervalued)
Average Sold Price* for Miami and Fort Lauderdale Metro Areas: What if?
Based on average sold price I made calculations assuming the potential price increase that could have occurred if the real estate market had performed as expected (approx. 5% annual increases) or assuming properties would increase in price based on the average Inflation rate of the last 10 years (approx. 2.57%). If we take into consideration the projection based on a 5% annual increase in both Metro Areas the actual median price is below the projected price. If we compare it with a projected 2.57% annual increase in Dade the values are very close and in Broward the actual Average sold Price is significantly below the projection.
If we compare the data provided by the IHS Report and the data obtained from the MLS (trendgraphix), we can conclude that even though at some point prices in Dade were more overvalued than in Broward today we may say that Broward’s properties could be a better deal!
To receive my blog posts directly to your inbox subscribe here.
Thinking of selling your home? Now might be a good time to put it on the market when the inventory of great properties for sale is low. For a FREE market analysis of your property call me at (954) 588-7260 or contact me.
![Reblog this post [with Zemanta]](http://img.zemanta.com/reblog_e.png?x-id=91f86e9b-ad1a-4eda-b0ba-8b0864310d6a)
| Discussion: 1 Comment »
Banks & HAFA-Home Affordable Foreclosure Alternative Program
February 24th, 2010 categories: General RE Info, Tips For Buyers, Tips for Sellers
Encouraging Short Sales as an Alternative to Foreclosure
In an effort to help distressed homeowners the Treasury Department released in November Guidelines to reduce the number of Foreclosures and ease the Short Sale Process. The program should be in effect on April 5th, 2010. Short Sales have been streamlined by Banks as time goes by it’s still a lengthy and painful process. In average a successful Short Sale Transaction had 2 or 3 Buyers during the process. The first one either tired or waiting or not interested in the price the Bank countered at opened the door for second or third Buyers.
Bank of America, is particularly known for its lengthy Short Sale Time line specially with Countrywide Loans. The process will be streamlined through the use of an interactive website easing communication and document uploading. Their goal is to offer pre-approved short sale solicitations and provide approvals within 2 weeks from the time an offer is submitted.
If you are a Bank of America borrower and you are considering a short sale, contact Bank of America Short Sale Team at 1-866-880-1232.
Wells Fargo created Field Short Sale Teams to provide local assistance to homeowners and their Real Estate Agents. Each case is reviewed by a Short Sale Specialist on site. Their goal is to obtain approvals within 7-10 Days and close in 37 days (from start to finish). For a limited time they are offering seller’s incentives to help with moving costs (your local short sale field rep will confirm availability).
If you need a market evaluation of your home to determine if you are facing a Short Sale scenario, please call me at (954) 588-7260 or e-mail me garcia.i@ewm.com
Make sure you list your property with a Real Estate Agent that will treat the Sale of your home with the same care and diligence as a non-distressed sale.
| Discussion: No Comments »
Something Your Buyers Should Know About Title Before Closing On A REO Property
February 9th, 2010 categories: Tips For Buyers
The REO lender cannot require, as a condition of sale, that the buyer purchase title insurance from a particular title company. The buyer of REO property has a right to choose the closing and title company and pay for buyers own title policy. Section 9 of RESPA prohibits a seller from requiring the home buyer to use a particular title insurance company, either directly or indirectly, as a condition of sale. In fact, a clause in a purchase agreement that has the effect of forcing the buyer to obtain and pay for a title insurance policy from a specific title company is illegal. The only way a seller can ask that a buyer use a particular title company is if the seller pays 100% of all title insurance and related title costs. We urge buyers to stand up for their right to choose the title company if the buyer will pay for the policy.
For additional information please contact Marisa Pia Capua of EWM Title at 305.960.3067.
| Discussion: No Comments »
Reduce your risk of online fraud
February 9th, 2010 categories: Tips For Buyers
On line fraud can be costly and annoying and can cause harm to your computer. Below are some tips from Microsoft to help you reduce your risk of online fraud.
Signs of a scam
To help protect yourself from scammers lookout for these six things .
- Generic introductions such as “Dear Customer,” which indicate that the sender does not know you and should not be trusted.
- Alarming or urgent statements that require you to respond immediately.
- Requests for personal or financial information, such as user names or passwords, credit card or bank account numbers, social security numbers, date of birth, or other information that can be used to steal your identity.
- Misspellings and grammatical errors, including Web addresses. The Web address might look very similar to the address of a legitimate business, with a minor change. For example, instead of www.microsoft.com, the scammer might use www.micrsoft.com. For more information, see Typos can cost you.
- The text of the link in the e-mail message is different from the Web address that you are directed to when you click the link. You can determine the actual Web address for a link by hovering over the link without clicking it. The Web address appears in a text box above the link.
- The “From” line in the original e-mail message to you shows a different Web address than the one that appears when you try to reply to the message.
What should you do if you notice suspicious activity?
If you think an e-mail message might be fraudulent, Microsfoft recommends taking the following precautions.
- Delete the message. Do not respond or click links in it.
- Report any suspicious activity. (See below for contact information.)
- If you believe that someone is using your Windows Live account, you can reset your password. Go to http://login.live.com and click Forgot your password?
- Fraudulent e-mail messages sometimes contain unwanted or malicious software (also known as malware). If you think you might have malware on your computer, go to safety.live.com and scan your computer to check for and remove unwanted software.
For more helpful tips from Microsoft or to report suspicious activity click here.
| Discussion: No Comments »
Weston Homes for Sale and Sold-Real Estate Market Trends as of 2/1/2010
February 1st, 2010 categories: Bonaventure, Country Isles, Emerald Estates, Market Update, North Lakes, Savannah, The Islands, The Lakes, The Meadows, The Ridges, The Springs, Tips For Buyers, Weston Hills Country Club, Windmill Lakes Estates
As of February 01, 2020 there are 318 Active Single Family Homes Listed in Weston,Fl
On the month of January, 2010 there were 32 Closed Sales
The proportion of Short Sales and regular sales have not changed much in the last few months.
For a detailed view of the Single Family Homes that closed in Weston on January 2010 click here.
If you want to compare with November and December activity you can read the related articles:
December 2009 Market Update
November 2009 Market Update
*Some Closed Sales may not be recorded yet in the MLS as of 2/1/2010
Thinking of selling your home? Now might be a good time to put it on the market when the inventory of great properties for sale is low. For a FREE market analysis of your property contact us.
| Discussion: No Comments »
Single Family Homes Sold in West Broward: 2008-2009 Comparison
January 5th, 2010 categories: General RE Info, Market Update, Miramar, Pembroke Pines, Tips For Buyers, Tips for Sellers
The increase in closed sales can be found all around the West Broward. Interestingly Weston’s increase has not been as abrupt as in other areas. It may be caused by any or the combination of several reasons:
| Discussion: No Comments »
