FL Real Estate

Moving Day

2005-05-15T09:38:00.000-04:00

Since I will be leaving Miami come Wednesday May 18th, I felt I needed to create a new blog: It can be seen at http://yourbestagent.blogspot.com/

I hope you enjoy. I will miss my dear friends and associates in Miami.

Mr & Mrs Jerk

2005-05-11T22:06:00.000-04:00

I just got in from Titusville. I finally closed on the house from Mr & Mrs Jerk aka Julie & Mark Amor. I was not going to use their names but since they breached the contract I really do not care at the moment. They were to leave the W/D at the house and they did not. When the other agent called them all they did was SCREAM REALLY LOUD AND B*TCH the other agent out which was not called for as it was not her problem and then told her they would not close and I could basically jump in a lake. ... well I went down with my money and signed and left. They then went down all "sweet and nice" and signed and left. I hope I NEVER run into Mr or Mrs Mark AMOR. She told me they were from Britian.. whatever. They were rude, ugly and no way anything but ugly. I told the agent for the seller "well... down south you'd be buying a w/d" she looked a bit freaked and I decided I was buying a house not a w/d. And let it go. (sort of) OH trust me.... it ain't over.

Just thankful the deal is done, I have a house to move to and I soooooooooo looking forward to moving back home. I just have to find a way to "bless" or do some incense or something rid the "bad karma" they may have left behind.

back to packing.....

Still NO Closing

2005-05-11T07:46:00.000-04:00

Well my contract expired yesterday with Mr. Jerk and who knows what today will play out. I still do not have a loan. My lender tells me it is because I am a realtor and I have several other mortgages on my rental properties. Everytime I talk to with Valerie the Processor it is always something different. Lets see, the term arms length came into play... guess because I used WCI Mortgage and I work for Prudential FL WCI that some how we are family and Aunt Valerie can not do a no income no asset if there is some sort of arm in the way. I am very frustrated at the moment. I called Wells Fargo yesterday afternoon and by 6 pm I had a loan committment... all they want is a copy of Chuck's offer letter and a copy of the contract and they can close it. No brainer. This should have been a no brainer all along. Seems as if everytime I speak to Valerie or Elaine it is something different and everyone is "working on it." Yeah...right. This should have been done last week. On Thursday I was told everything was fine and they'd be mailing out docs...whooooaaa stop the FED EX guy.... Uncle Guido changed his mind.

On a good note. My friend Cindy got to bring her dog home from the hospital yesterday who had been hospitalized for over a week and he is doing much better!

I'll keep you posted. Fellow Buyers see the mortgage process is no different for us realtors as well.

Nothing Worse

2005-05-10T07:59:00.000-04:00

There is nothing worse then being a realtor and trying to buy a roof over your head. State law requires realtors/brokers to disclose in the contract that we are a licensed real estate broker in the state of Florida buying for our own personal use. Well in that small sentence becomes a world of a mess. The seller already has a preconceived notion that the realtor is buying the house because he or she knows something that he does not. Like he is selling it to cheap or the property will be going up in value shortly due to something the city will be doing etc...

Realtors need a home just like everyone else in the country and for the most part I will tell you we are on the up and up. I am sure there are some unscrupulous individuals out there but in general we are all good human beings. Now with that said I am dealing with a 100% jerk on the house I am buying to occupy. According to his realtor he did not want to sell it to me the house in the first place because I was a realtor. Why should a Realtor be able to buy a house????

My lender said it would be no problem since we had the funds to close it prior to closing our house here. Well it got down to the wire and the underwriter said 7 mortgages is one too many and we would have to close here prior to closing the other one. I called the other realtor to let her know the situation and we would need to extend just for 10 days in order for our house here to close. Well guess what Mr. Jerk said. "NO. I knew she was up to something...blah blah blah blah, I am going sue her, blah blah blah" Spare me.

So. With no place to move I got with my lender and said the owner is a complete jerk and what other options can we pursue in order to close this transaction. The only option I had was to do a no income no asset loan pay a much higher interest rate because MR JERK would not give me 10 DAYS. So hopefully I will get the news today (closing day) that I was able to obtain financing this way to just be done with it. I hope I never run into MR. JERK in Titusville. Hopefully he is relocating out of the area. Titusville is such a nice area they don't need an individual like Mr. Jerk in town. I'll keep you posted.

Proud to be Full Service

2005-05-08T17:21:00.000-04:00

In reading Florida Realtor this afternoon because I was bored (see post below) I came across a letter to the editor written by David C. Wall Sr. I absolutely agree with his comments and thoughts and look forward to working with him up in Titusville. He has his license at ERA Showcase Properties in Cocoa.

His comments are:

""Service First, Money Second" how can you have service first if you're a limited service broker? The American Heritage Dictionary defines limited as: "1: Not attaining the highest goals or achievement." I'm a sales person with a full-service broker. The same dictionary defines full as "1: To a complete extend: entirely."

Full -service means just that, full service first -- not money first -- from the signing of the listing agreement to the last signature at the close. I'm proud to be a full-service agent.

When you sell a home listed at a higher commission from a full-service broker, do you cash the check? The times in real estate are changing only because there will always be those who are willing to do less for less. Is it all about the money? Not one sales associate makes a dime until the closing is completed and everyone is satisfied. Full-service agents work hard to make sure their buyers and seller are satisfied."

Limited service brokers generally collect their check prior to servicing the client.

Boredom

2005-05-08T16:26:00.000-04:00

I need to learn to embrace moments of boredom. To rephrase the word and enjoy the moment of quietness and mellowness. (if those are actually words) I have begun to shut down my business here in Miami as I will be leaving by the end of May. I will continue to work my closing but no new business. I have cancelled my ads, google searches, lead generations etc. My cell phone is quieting down and so are my emails. I feel like I am melting. Although excited at the same time of a new beginning back home. Close to Family. Close to roots. Nothing sounds more soothing at the moment. I need to embrace boredom...as I know it won't last.

WaveRelief.org

2005-05-08T16:22:00.000-04:00

Rella is the Sinhalese word for 'wave' and the name of a beautiful pendant created by fine jewelry designer Jane Taylor. Profits from its sale will go directly to fund vital efforts to help children in Sri Lanka who were affected by the December 26 tsunami.Go to www.waverelief.org for more info.

Yes, Rumor has it... and it is True!

2005-05-06T07:39:00.000-04:00

We are Moving.

Yes, the rumors that have been floating around are true. We are moving to Titusville. My old stomping grounds. We are both very excited about the move back "home." Our youngest boy and his wife live there and so do our folks. This is a small move but very excited about being back home. Titusville is located in Brevard County where the shuttle is launched. So at this time I am not taking on any more clients in the Miami Dade Area. Should you need a realtor feel free to contact me and I will put you in contact with an excellent realtor to assist you. Stay posted to moving details and info on Brevard County!!

~~~~ Break out my Surf Board ~~~~~~~~~

It must be safer in Iraq....this is horrible.

2005-05-05T12:53:00.000-04:00

http://www.miami.com/mld/miamiherald/news/local/11566455.htm

please read.

Developer Plans World's Tallest Condo In Miami

2005-05-05T12:28:00.000-04:00

MIAMI -- It's only on the drawing boards, but a developer is proposing to build the world's tallest condominium tower in downtown Miami.

Leon Cohen bought the property Monday for $31.7 million and is preparing to submit plans for a 110-story tower that would be 1,200 feet tall. A companion tower of the same height would be a combination hotel-apartment building.

But it may not be easy to get approval for his Empire World Towers. The Federal Aviation Administration limits the height of downtown buildings because of overflights from Miami International Airport jets.

Developer Pedro Martin, who plans to build two nearby condo towers, said his building heights were limited to 649 feet.

The proposal by Cohen's Maclee Development would include 1,000 condo units and 500 apartments and hotel rooms. The project also would be the tallest concrete structure in the world.

"This is due to the hurricane weather in South Florida," Cohen said Wednesday.
The world's tallest residential building, the 21st Century Tower, stands 883 feet tall in Dubai. Florida's tallest high rise is the 789-foot Four Seasons Hotel & Tower in downtown Miami.

by The Associated Press.

Sky Rockets in Flight...

2005-05-04T15:42:00.000-04:00

I got this email from a friend of mine who's nephew is a pilot for US Air. I found it interesting and thought you might enjoy it as well!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Hi Everyone,
We took off out of Miami bound for Charlotte last Fri night a little after 8PM and as we approached Orlando there was some discussion on the air traffic frequency about a possible launch at the Cape. The air traffic controller said the NASA advisory was for a 9PM satillite launch, and our on board computer was telling us we would be abeam the Cape at 8:45, so we figured we'd be too far north (by about 100 miles) at launch time to see anything. So abeam the Cape at 8:45ish, level at 29,000 feet, we saw a very bright glow out by the lanuch pads intensify strongly, then diminish and dissappear. The Captian and I agreed that it looked like a scrubbed launch. A few minutes later, about 8:50, with the Cape now slightly behind us in our 4 o'clock position, something caught my eye, and I looked back to see this 500 foot long trail of fire out of about 1000 feet. "Holy $&*%! There it goes!"

I professionally advised my Captian. This rocket then proceeded on a northeasterly course, paralleling our course, about 20 miles away. It climed at a very steep angle until slightly above us, then seemed to flatten its climb a bit and proceed to slowly overtake us, flame bright as ever. Due to the clear night, the brightness of the rocket, and its close proximity, it looked as though it might climb over us (there was kind of a "fish-bowl" effect to the whole scene, due to the intense flame combined with our altitude), but it continued to pass slowly along side us, and head off shore. The trail was now diminished, more of a phosphorus glow, but still very visible.

Then the two solid rocket boosters fell away, visible now as only bright points of light, and the rocket pressed on with only its engine as a single point of light showing its location. There was now some speculation on the radio from other aircraft that this was possibly a secret Shuttle launch, probably military, but we learned later that it was indeed a Delta rocket, used commonly for satillites.
Then something strange happened. A bright, bluish-green aura seemed to envelop the rocket's location (the engine now a small point of light), and grow larger for perhaps a minute. Then the cloud faded away, and it and the rocket were gone. We later learned that this was the point at which the rocket had gone through the speed of sound.
In 18 years of flying up and down the Florida coast, that is only the second launch I've seen from the air, and the first one at night.

Regards,

Stop Higher Doc Stamps

2005-05-04T14:33:00.000-04:00

Stop higher doc stamp taxes NOW

Among the last-minute proposals being floated at the state Capitol is one to increase documentary stamp taxes.

Increasing Florida's doc stamp taxes -- already the highest in the nation -- is an ill-conceived solution to the state's growth management problems.

Contact your legislator IMMEDIATELY and tell them:

* Higher doc stamp taxes mean higher closing costs. For every $100 increase in closing costs, 1,750 families will be unable to realize the American Dream of Homeownership.

* A healthy housing market is crucial to Florida's economy and to its future economic development. As stewards of economic growth, legislators must guard against restricting the housing market by imposing excessive costs on homebuyers.

* Paying for growth is the responsibility of all Floridians, not just homeowners.

* There are more equitable ways to pay for growth: Sales taxes. Gas taxes. Bonds. Incentives for growth and redevelopment.

Any growth management solution currently being considered must not include a TAX INCREASE.

Click below to send an IMMEDIATE message to your legislator:http://www.votervoice.net/groups/FLAR/frameset.asp

Florida State University

2005-05-03T13:30:00.000-04:00

Graduation!

My boy graduates! My little Charlie.... I am a very proud parent at the moment. My son graduated from FSU Friday night. He did it with 2 degrees one in Computers and one in Math. We had a wonderful weekend with him and his girlfriend and her mom. I remember the day that 10 1/2 pound child came into this world I was all of 19 years old. I swore that day he'd have everything. (Which he did!) This weekend was about him. And we loved it. He has been offered a position in San Rafael CA and the movers are there now loading up what little he has and moving it to CA. The company he is going to work for is VC Entertainment his name will show in the credits on the games... HOW exciting. He starts on Friday. For now it is back to work for me...

New Condo Development

2005-04-29T07:39:00.000-04:00

Cielo

Prices from the $700's to over $1M
Thirty-six exclusive residences by the bay; developed by Egozy Development and designed by Luis Revuelta, residences range in size from 1,830 SF to 1,915 SF and feature flow-through floor plans; oversized terraces; designer cabinets and appliances and much more.

It's Time to be a Conservative Real Estate Investor

2005-04-27T07:10:00.000-04:00

Excellent article. Click here.

PORT ST. LUCIE'S UNKEMPT YARDS FEATURED ON THE WEB

2005-04-26T15:17:00.000-04:00

Ladies and gentleman, start your lawnmowers! Port St. Lucie, Fla., resident Joe Edge's Web site, Portstluciehomesofshame.com, features photographs of local properties with poorly maintained yards, among other flaws, complete with the homeowner's name, address and a list of city code violations. "If the problem goes unchecked...it's going to have an impact on property values," says Edge, who notes that residents from other localities have expressed an interest in seeing a similar Web site for their community. Syracuse University professor Robert Thompson calls the Net venture "a brave new world of neighborhood vengeance." But several residents
whose dwellings were displayed on the site reportedly plan to file defamation lawsuits against Edge. "There's no way you can tell somebody they're a slob and be nice about it," says Edge.

Source: Edmonton Journal (04/21/05) P. B6; Harris, Misty

Headlines I got in my email today

2005-04-26T06:38:00.000-04:00

HOME SALES
Out-of-state buyers, low mortgage rates and high demand combined forces to
create another strong month for sales of existing homes. Florida home sales
rose 6 percent in March compared to March 2004, with the median price surging
28 percent over the same period. Nationally, existing-home sales rose to the
third highest pace on record.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Plans by major developers such as Lennar Corp. and D.R. Horton call for more than 16,000 homes to be built in high-density neighborhoods on land that is now outside the line, known as the urban development boundary. Unless the line is moved, development on that land will continue to be restricted to one structure for every five acres -- not what the developers want.
Horton's proposal, a planned community called "Providence," envisions more than 5,000 homes, office and retail space, schools and parks on 854 acres.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
The sale of existing single-family homes plunged in Miami-Dade County in March while home prices continued to skyrocket across South Florida, the Florida Association of Realtors announced Monday.
The number of Miami-Dade homes sold in March dropped 28 percent compared to the same month a year ago. Home sales dropped 10 percent in Broward for the same period.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
An operations manager for Jack in the Box was late for a meeting and called his boss to tell him he was running late. As he was leaving the voice mail message, he witnessed an accident and went on to provide "play by play" of the incident. This is the actual voice mail message. It was forwarded so many times within Jack in the Box, it crashed the company's voice mail server. Turn your sound up. Click here for the scoop.

3075 NW 45 ST

2005-04-23T07:42:00.000-04:00

$75k~least expensive home in Dade County.

(love the remarks on this listing!)
DEAL FELL THRU #$@%$#@!!! HANDYMAN - LOT SOLD NEXT DOOR AS PART OF COMPLETE PACKAGE FOR 100,000.00 TOTAL. SEE D1044861 FOR DETAILS. 3BD 1BA. LOOKING FOR CASH INVESTORS. NO REPAIRS OR REPLACEMENTS WILL BE DONE. SOLD STRICTLY AS IS. *** SHOW AFTER 5PM DAILY OR ANYTIME WEEKENDS. *** ALL CASH ONLY OFFERS ONLY. NO FINANCING CONTINGENCIES WILL BE CONSIDERED. 5 DAY INSPECTION PERIOD ONLY.

Julio Iglesia's has Photos!!

2005-04-23T07:34:00.000-04:00

Finally! The listing agent was able to get into Julio's compound and take photos. This is the most expensive listing in Dade County at $29 Million. Here is the link to the listings WITH PHOTO'S.
Interested?

Circle Lending

2005-04-23T06:56:00.000-04:00

My son lives in one of my rentals with his new wife (who I just adore). They want to buy the house from me. I struggle a bit with this. Not sure he is ready for "homeownership" at age 20, but admire the fact he loves real estate as much as I do and can't wait to buy his first house. (poor kid knew what a closing was at age 9)

I came across an article posted on Market Watch regarding a similar situation. The article referenced carrying the mortgage to avoid capital gains. It also mentioned that should "junior" feel that since Mom and Pop are holding the paper he can miss a month or two when needed. (I can see this...) The article goes on to mention CircleLending, which is a company that assists in loaning money to relatives, friends or business associates. They have a free guide you can download on their site. The guide includes sections on:

Assessing your situation
Establishing borrower and lender expectations
Structuring an agreement that works
Keeping accurate records

How they make money is a small set up fee and $9 per payment. If you have some funds from investments that you'd like to loan out and earn interest on be sure to check out their services!

The Wall Street Journal had this to say about them:
"Outsourcing... It's another way to avoid any uncomfortable conversations or confrontations over the loan in the future is to let someone else administer the loan for you. CircleLending, an online financial institution based in Cambridge, Mass., will help you."

Scarcity of open land slows home building in S. Florida

2005-04-22T07:30:00.000-04:00

Many people think it is the start of the "bubble." Sorry folks real estate is still booming. I listed a house, put it in the MLS at 5:30 at night had an offer faxed to me by 6 pm with out ever seeing the house!

Recent headlines said New Construction starts are down... well hello?

Here is the except from the Herald regarding scarcity of Land.

With developable land running out in South Florida, only Palm Beach County saw home construction rise in the first quarter of 2005. The number of homes built in Miami-Dade and Broward continued to fall, according to data released Wednesday by market research firm Metrostudy.New single-family homes in Palm Beach County were up 11.1 percent compared with the same quarter last year, while Miami-Dade had a 20.9 percent decrease and Broward had the fewest number of homes built since 2000. Broward's home construction fell by 16.6 percent compared with last year.

"It's simply a lack of land," said Bradley Hunter, South Florida market director for Metrostudy.About 1,700 single-family homes or townhouses were built in Miami-Dade in the first quarter. More than half of the new homes were built in and near Homestead and Cutler Ridge. In Broward, there were about 800 homes built.

"Regardless of how good market fundamentals are, we're running out of land," said David Dabby, principal of real estate consulting firm Dabby Group Advisors in Coral Gables. "With the kind of land restraints we have, it's no wonder single-family starts are down."When reporting on Broward's home construction, Hunter says most development experts are surprised the number is as high as it is."The perception is that Broward is totally built-out," Hunter said.

"What's interesting is that home builders are still finding ways to build, which says Broward is down, but not out."In Palm Beach County, where new-home starts have been gradually easing since hitting a peak two years ago, 2,279 homes were built in the first quarter of 2005."In Palm Beach County, we're trending gradually lower because of land depletion, but still growing," Hunter said.

Mike Smolak, Palm Beach division president for Miami-based Lennar Corp., says even the threat of less land isn't deterring development."Whether new homes are up or down, demand is still very high here," Smolak said. "That forces prices up, and eventually you will see different attempts to meet those demands, whether it's more condos or infill projects that become more practical and economically feasible as you run out of land."Nationally, although the U.S. Department of Commerce announced a 17.6 percent decline in home construction, Hunter said a Metrostudy analysis of the government's numbers shows a different picture.

In single-family housing completions, the government said there was a 6 percent decline, but that figure had a 9.3 percent error range."The change is not statistically significant," Hunter said.What does concern Hunter are the escalating prices of new homes and whether buyers are occupying new homes or using them to quickly turn a profit."We'll watch for how much standing inventory there is with no one living in it," Hunter said. "That's going to be the best indicator of problems cropping up."

1180 NE 41 Ave

2005-04-21T06:17:00.000-04:00

New Listing!

Just Listed! This fantastic home on the Canal in Homestead! $259,900. Brand new construction. 3 Bedrooms 2.5 baths 1700 sq ft. Call me quick on this one!

Junk E-Mail

2005-04-21T05:45:00.000-04:00

I get more junk email from Lenders. I mean I get at least 10 emails a day about how I am approved for some sort of mortgage. I did a search through my "qurb" box from the last two months. I had 737 emails regarding some sort of loan, refinance etc. You'd think the Mortgage industry was desperate. I have no idea how to get off these lists. They do not have a link to unsubscribe and half the time everything is spelt wrong or they have funny symbol's. If I was in the Mortgage industry I'd be embarrassed by these companies. What happened to Professionalism. I remember the day when you went to get a loan you dressed up nice brought all your paperwork drove to the local bank and sat and waited to meet with the loan officer. You smiled and tried to give a good impression and had to sell yourself to get a loan. Now a days seems as if they are begging us for their business. Be sure to check out the Lender you are using here is a link to a blog that shows how much fraud goes on in the industry. http://www.mortgagefraudblog.com/

Headlines I got in my email today?

2005-04-19T16:21:00.000-04:00

U.S. housing starts drop
Single-family production down 14% from previous month
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Wells Fargo profits up 5%
Real estate loan applications pick up
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Home builder's profits climb on increasing sales
D.R. Horton reports $294 million in second-quarter net income

Cheap compared to NYC!

2005-04-19T16:16:00.000-04:00

One Miami

Great 1/1 C1 model unit #2110 with northeast
views (85% water) going for $335,000
Hurry it won't last!!!!!!

Miami's "New City"

2005-04-19T16:04:00.000-04:00

According to the Miami Herald, Miami is going to re-vamp its antiquated zoning code with a neighborhood- and pedestrian-friendly set of building rules in an effort to map the future.

''We are really designing a new city,'' said Mayor Manny Diaz, who is heading the effort, dubbed Miami 21, and has made it a top priority of his administration. ``It's long overdue. As far as I can tell, no one has looked at this since, well, ever.''
The effort will also include plans to improve transportation, parks and public spaces, and to spur economic development in the city until well into the new century.

Miami would be the first major U.S. city to adopt such a code.

The rewrite would take place even as a high-rise condo-construction boom of unprecedented scope is already recasting downtown Miami and surrounding areas -- gobbling up vacant land, flattening some of the city's oldest buildings and, in some cases, invading long-established neighborhoods where the quirks of the zoning code permit out-scaled development.

In the meantime, city planning statistics show, 51 large-scale projects have been approved across Miami, encompassing 17,776 residential units and more than three million square feet of floor space. Applications for new buildings continue to flow in.
The city's largest residents' group nonetheless intends to participate intensively in the public sessions that will help shape the plan.
''I'm basically optimistic,'' said Joe Wilkins, secretary of Miami Neighborhoods United, a 1-year-old coalition of 20 city homeowners' associations. ``We've been victimized by the antiquated zoning code. The feeling is that the city has had a bias toward development at the expense of the neighborhoods.
``The city always says they want to preserve neighborhoods. This is a chance for them to put their money where their mouth is.''

Parade of Homes

2005-04-17T10:04:00.000-04:00

My Winner!

I had a great time at the Parade of Homes Judging Event. The people I rode with were fantastic. I hope they survived my cell phone while on tour. The home that is my favorite is in Deland. Awesome floor plan and layout. I'd love to buy this home. If you get a chance to go on the Parade of Homes this week please be sure to check out this home and this builder! FANTASTIC! If you have access to the Orlando Sentinel pick one up it has the entire guide in Sundays paper.

2005 Volusia County Parade of Homes

2005-04-14T07:14:00.000-04:00

I am excited. I leave this morning for Daytona! I am going to be a Judge for the Parade of Homes. The Parade of Homes runs April 16-24. The area Home Builders will have their best homes up for viewing to the public.

Here is the Press Release:

FOR IMMEDIATE RELEASE VOLUSIA COUNTY PARADE OF HOMES FEATURES THE LATEST HOME BUILDING TRENDS

Volusia County, FL (March 21, 2005) – Members of the Volusia Home Builders Association (VHBA) will showcase the latest homebuilding trends during next month’s Volusia County Parade of Homes from Saturday, April 16 through Sunday, April 24. The Parade will highlight more than 50 entries throughout the county and will be open to public tours from 9:00 a.m. to 5:00 p.m. each day. The annual event will feature condominiums, single-family homes and villas ranging in price from $160,000 to $1.5 million. There will also be seven developments on display throughout Volusia County.

According to Better Homes and Gardens some of the hottest trends in the home industry are energy-efficient homes, built-in high-tech wiring, and specialized storage – including recycling centers, closet organizer systems and unique kitchen and pantry storage options. Homebuyers are also trading extra square footage for well-crafted details like hardwood floors and top-of-the-line kitchen appliances. The 2005 Volusia County Parade of Homes will feature many of these new trends and others including homes and design ideas for all budgets.

“The Parade of Homes is our biggest event of the year,” said Steve Conley, VHBA president. “It’s our chance to showcase the work of our association’s brightest members and help home shoppers learn what’s important to them in a home.”In addition to touring the 55 entries in the Parade, people can also get free 360-degree tours of custom homes from Luxury Builders simply by logging on to volusiahomebuilders.org. Visitors are also encouraged to visit this year’s showcase home, “Palazzo del Vino” by McCarthy Builders, in the Toscana subdivision in Ormond Beach.For more information about the 2005 Volusia County Parade of Homes please call (386) 226-1414 or watch for the Parade Guidebook in the April 16th edition of the Daytona Beach News-Journal and the Orlando Sentinel or at Parade sponsors offices.

I will return to Miami on Sunday.

Just Listed!

2005-04-12T22:34:00.000-04:00

$227,950

2319 NE 37 RD
Tons of builder upgrades. Excellent location, New schools etc.. 3 bedroom/2 bath/1 car garage.. great starter home/2nd home or investment! call soon will go quick! 305-970-6757

Mercury Retrograde

2005-04-12T15:22:00.000-04:00

Today is a blessing. Mercury will no longer be in Retrograde!! This means deals will finally close and buyers and seller will return to their normal selves. Your computer will quit crashing and making funny noises and you will no longer be late to appointments.

Mercury, sending communications, travel, appointments, and mechanical things into a general snarlup! This awkward period begins a few days before the actual turning point (as Mercury slows) and lasts for three weeks or so, until April 12, when the Winged Messenger reached his direct station. At this time he halts and begins his return to direct motion through the zodiac.
Everything finally straightens out on May 1, 2005, as he passes the point where he first turned retrograde. Mercury turns retrograde three times a year, as a rule, but the effects of each period differ, according to the sign in which it happens.

Mercury rules thinking and perception, processing and disseminating information and all means of communication, commerce and transportation. By extension, Mercury rules people who work in these areas, especially people who work with their minds or their wits: writers and orators, commentators and critics, gossips and spin doctors, tricksters and thieves. (Miami had a huge string of robberies yesterday)

Mercury retrograde gives rise to personal misunderstandings; flawed, disrupted, or delayed communications, negotiations and trade; glitches and breakdowns with phones, computers, cars, buses, and trains. And all of these problems usually arise because some crucial piece of information, or component, has gone astray, or awry.

The next one is not until July 22 - August 15.

ahhhh we will all be normal again for a while.

Price for Everything

2005-04-11T21:20:00.000-04:00

I have learned there is a price for everything. There has been a time in our life where we had to share a 1 bedroom apartment with another couple and a point where I have owned a half million dollar home. They all come with a price. Sometimes I think sharing the 1 bedroom apt was worth more. We had another couple that was like family. We ate together, laughed together and cried together. In the 1/2 million dollar home we had no BBQ's, no gatherings, no one on our street noticed because they were working as hard as we were and were too busy to just hang out and visit. We have friends all over the country due to the military service and we have seen and done more than any. Our kids are chatty and friendly to everyone they meet due to the constant moving they had to do. They adjusted well and we are lucky. They are both successful. When we were in the 1 bedroom apt sharing it with the other couple, yes "spanky" that was his nickname drove me nuts and we had one bathroom that when they had to go crawled over us in the middle of the night across the bed to get to it. It was hated. But looking back it was not so bad and I can laugh and cry about the memories the same. Our neighbors upstairs were also in the service and she loved to bowl so she arranged her place so she could practice bowling on the hardwood floors above our head...enough said I think you can imagine. Lori & Luke.. loved them, she was my best friend and love to go exploring. We'd get lost and find our way home laughing and careless, like ...who else mattered. I hope they are still together and now with kids etc. I lost touch over the years. Another memerable couple was Diane and Mark their daughter was Autumn. I am sure she is a knockout now. They were from PA. Mark used to always say "don't sweat the petty things just pet the sweaty thing"... I am sure you get my drift. They were neat people. We have met so many interesting people over the years.

Now we both work about 70 hours a week or so it seems. No little kids at our feet because they are grown and the income is good. But it is a trade off... I miss those days. BBQ's and family get togethers. I am working with some low income folks to find housing. It is a challenge. Does not pay much but it feels good. And I know I am doing good for them and looking after them because no one else will.

Try not to work so much and enjoy your life... that is what you are working for! Remember the cause and the balance. Take time to go to church. Take time for yourself. And remember you can't take it with you, money isn't everything.
KV.

Apprentice Star Arrested!!

2005-04-11T08:10:00.000-04:00

I know this is not real estate related but he is a Millionaire because of Real Estate.

~~~ASSOCIATED PRESS~~~

Shelton, 22, one of six remaining contestants competing for a job with Donald Trump, was taken into custody early Sunday at the Seminole Hard Rock Hotel & Casino. He was released after posting $250 bail.

A tribal police officer heard a noisy Shelton in the hotel lobby and asked him twice to calm down before arresting him, said Seminole police spokesman Gary Bitner.

"He was loud and he just wouldn't calm down," Bitner said.

Shelton was peeved over a $20 cover charge for the hotel bar. Shelton "was at the lobby causing a scene," the police report said. "There were several patrons in the area who were visibly shaken by his actions. After several attempts to calm Shelton, he continued to yell and curse, refusing to calm down and stop causing a scene.

"Shelton and some friends were staying at the hotel and celebrating his continued success on "The Apprentice," Bitner said.

Fliers distributed at the University of South Florida advertised a birthday party for John Gafford, a contestant from Tampa who was fired earlier this season, and offered the opportunity to party with current cast members.

"We don't really have any comment," said NBC spokesman Jim Dowd. "This is clearly a private matter with Chris." All but the final episode has been taped, and it isn't known if Shelton makes it that far.

Shelton of Lake Las Vegas, Nev., sees himself as a young Donald Trump, according to the show's Web site. His claim to fame on the show may be his temper.

Shelton has been spared in spite of throwing tantrums at teammates and outsiders. He spent most of the latest episode waiting for employees to find a credit card he lost at Best Buy, telling an employee he hoped he didn't "have to find an aluminum bat and break somebody's kneecaps."

"He makes mistake after mistake after mistake," fired Angie McKnight told The Associated Press. "He really gives it his all, but I think America knows he should have been fired quite some time ago.

"Fired project manager Stephanie Myers said she would have fired Shelton if she could and observed, "Some people needed some baby-sitting."

Undervalued Markets

2005-04-10T07:56:00.000-04:00

Looking to Invest? Consumer Reports says these areas are undervalued.

Augusta-Aiken, GA
Baton Rouge, LA
Charleston, WV
Dayton-Springfield, OH
El Paso, TX
Fargo-Moorhead, ND
Fort Worth-Arlington, TX
Harrisburg-Lebanon, PA
Houston, TX
Jackson, MS
Memphis, TN
Montgomery, AL
Rochester, NY
Syracuse, NY
Tulsa, OK

If you live in these areas I would definitely look to invest!!

New Listing!

2005-04-09T05:41:00.000-04:00

11982 SW 133 Ter

3 Bedroom/2 Bath/2 Car Garage $310,000
Lakefront.
Click here for Visual Tour.
Call for more info!
305-970-6757

UPDATE: SOLD IN 3 DAYS MULTIPLE OFFERS.

Your House Value is Going up $10 a Hour!

2005-04-06T08:39:00.000-04:00

While reading my usual blogs this morning I came across a post on Inman News regarding a Real Estate Firm in Virginia that has a like a "real time" clock that is adding up by day what the average home is worth. You can see it here at DORdio.com The website says:

What does $ Loading... mean to you?
That is the average sale price of a home in the Northern Virginia area!

According to the Northern Virginia Association of Realtors (NVAR):

The average sales price in Northern Virginia in December, 2004 was $476,941, compared to $399,494 in 2003, an increase of 19.39%.

A 19.6% rise in home prices annually means a 1.61% rise monthly. This translates to a rise of $247.70 increase in value daily, or $10.32 per hour!

Make yourself a homeowner and use this increase to your benefit. Every hour you wait is costing you $10.32 in equity!

If you wait until December, 2005 to buy a home, and this trend of a 19.36% annual increase in value continues, the average home will cost $569,419.86!

Now Miami has increased approximately 26% in value... I will try to do the math...
26% means 2.17% per month. Average sales price is $446,100 This translates to a rise of about $300 a day....IF we continue on this trend....That is about a $100,000 a year. WOW

Boom Town!

2005-04-05T09:39:00.000-04:00

Here is some info regarding Homestead that you may find interesting.

It was 12 ½ years ago, a giant stomped on Homestead, uprooting trees, flattening homes and turning the city into a war zone.

Now, there is no doubt Homestead is once more a boom town.

In 2003, Homestead Hospital announced it would relocate to Campbell Drive and expand to a five-story building with 120 beds. It will be the first new hospital in Miami-Dade County in more than a decade.

The $130 million facility, part of Baptist Health South Florida, is expected to be finished in late 2006.

Lennar, Prime and Pride Homes builders are erecting the Malibu Bay planned-unit development, slated to be completed by 2009 with 251 single-family homes, 257 town houses, 624 condominiums, lakes with pedestrian paths, a private club house and a recreation center.

More homes in the Campbell Drive area east of downtown are also scheduled to pop up with construction of the Waterstone planned-unit development's second phase, which will bring 1,126 single-family homes and town houses to the area.

Phase I of the development, with 1,058 planned units which all been sold -- is located west of Southwest 137th Avenue.

Many other residential projects on the east side of town are also under way. In all, a total of 14,500 units are expected to go up within 10 years.

All of this wwill more than double Homestead's population of nearly 32,000 by 2010.
~~~~~~~~~~~~~~~~
Business Growth as well!

By the end of the year, residents could find themselves shopping at the Publix at Waterstone Plaza on the corner of Southwest 288th Street and 137th Avenue -- which will also include, among other stores, a Walgreens and a Blockbuster Video -- or at the BJ's Wholesale Club at the corner of Sixth Avenue and North Canal Drive.

Flagship Cinemas would bring in a 40,000-square-foot movie theater that would have stadium seating with about 2,400 seats, 14 screens and digital sound.

A symbol of the city's rebirth can also be seen in officials' plans for a sparkling new City Hall in the west side of town, close to the downtown area.

OK I fell for it...

2005-04-04T21:59:00.000-04:00

My son has taken a position in San Rafael(sp?)CA. Yes.. he will be a "gamer" and he is excited about it. The apartment he is in is in Tallahassee FL. Now, I was a property manager for years and when he tells me the stories as a tenant I seem to flash back as the manager. So to keep an objective view I did a search on the internet for help. I used to get 30-day notices all the time but thought lets see if there is anything regarding "breaking" a lease due to "graduation" or a "job transfer." So I find this website that charges $12 for a ~form~ type style letter for a notice to vacate. OK... lets pay the $12 .. UGH.. OH MY WHAT A WASTE... this is what I got...
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
NOTICE OF TENANT’S INTENT TO MOVE OUT
TO: LANDLORD
LANDLORD ADDRESS:
______________________________
______________________________
______________________________

PLEASE TAKE NOTICE:
TENANT NAME:
______________________________

ADDRESS OF LEASED PREMISES:
______________________________
______________________________
______________________________

I WILL BE MOVING OUT OF THE LEASED PREMISES AND SURRENDERING SAME UNTO LANDLORD ON THE ____ DAY OF __________________, 20 ____.

THIS NOTICE IS GIVEN PURSUANT TO OUR LEASE AGREEMENT AND APPLICABLE LAW.

SIGNED: _______________________________________ Date: ___________________
Tenant
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~`
OK IS THIS WORTH $12!!!!!!!!!!! UGH UGH UGH. Here is the website should you want to spend $12 for this form!!! http://www.uslegalforms.com

Geez, I wrote my own letter and sent it to my son. This stunk.

Nicknames

2005-04-04T09:04:00.000-04:00

I love showing houses. Buyers always nickname houses so at the end of the tour we can discuss each house and know which one we are talking about. Some names are "the green house" because the kitchen was painted an ugly green. "The dog house" because the owner had a big dog locked in the garage. "The smelly house" because the owner smoked and the "biker house" because of the all the photos of his harley were all over the house and a leather jacket on the chair in the family room.

Sellers often forget ``You don't sell a house the way you live in it.''

Here are some tips:

• Tone down brightly colored rooms. You may love passionate purple or iridescent aqua. But only a small percentage of those coming through your house will share your taste for such exotic hues. Neutral colors are a much better bet for sellers.

Please don't go white! You want "Realtor Beige." Go to model homes and see what colors they are using and copy it.

• Remove any personal items that could stigmatize your home. For sure, the classic female nude is held in high regard in paintings on display in museums around the world. But such an object of art in your home is more likely to offend buyers than inspire them. Remove dead stuffed animals as well. Those also can offend buyers.

Please take down the magnets on the fridge and the family photos. They are also distracting to buyers.

• Welcome would-be buyers with fresh rather than foul smells. Stop smoking in the house and clean the a/c unit add fresh flowers and air freshners just don't go overboard.

• Disappear when prospects come by. Once your home is prepped for showtime, perhaps you'll have an urge to be there when lookers come through -- just to be sure they appreciate its high points. A chatty home seller can detract attention from the positive aspects of a house. Take the kids and dog on a walk once the buyer arrives.

If there are features you don't want the buyer to miss leave a note on the counter for the realtor to point them out.

To avoid "funky" names on your house while it is up for sale have a flyer on the counter with a positive name for your house. For example "Beautiful Pool Home" "Workshop Home" "Country Range Home" "Rose Cottage Home" think of a name that reflects something positive about your home for the buyer to remember it when having to decide which home to purchase. If your home does not get a name either selected by you or the buyer, generally the buyer has forgetten it.

Ok...2 issues.. Cars and Old boyfriends...

2005-04-02T20:35:00.000-05:00

First of all car salesmens...being married since I was 17, bought and sold cars not knowing what I was doing and now think I know what I am doing HATE sitting in car dealerships while some odd man talks to the wizard of oz behind the curtain. "Let me discuss it with the manager, I will be right back." TWO HOURS LATER.... Ok we can throw in the bed liner on the truck. (what ever) HATED HATED HATED. I have no other words. I told the salesperson who we have bought other cars through, I will NOT walk in side. Here is the deal either you do it or not... Good thing I have caller ID or I'd be living on the phone tonight. I am sure we will come to an agreement after a sorid affair of calls and all will be happy.

Ok, I am sure you are asking where does the old boyfriend come in to play. Actually he is NOT an old boyfriend but.. an elementary crush. We used to hold hands and run around the backstop at school during PE and when he got in trouble (which seemed like often) I'd get in trouble just so I could sit outside the classroom with him. I ran into him a year or so ago and had a beer etc. There is no way we'd ever be compatable but he was still cute even at 40, the memories of those days were gut rentching and touching at the same time. He will always be a part of my childhood. I think I had a crush on him all the way through high school. After elementary school he went to a diffrent middle and high school so I only saw him from time to time mostly at rival football games. When I ran into him a few years back he had at the time a girlfriend which I am sure is his wife now... and you are going ok... so why the mention...

I am looking at buying my 8th house and in doing the research I found out he owns 3 houses on this same street. Go figure... just my luck. Through the grapevine I was told he can not get any more mortages due to the number of mortgages he has... and he owns 3 get it 3 on this one street of like 12 homes. ugh. ugh ugh. To be buying the house next door to one of the houses he owns brings back a world of emotions and memories. I have some thinking to do and a truck to buy....

Power Broker Report has come out.

2005-04-01T12:26:00.000-05:00

Bit of info:
2004
307,613 number of Realtors
3,324,247 number of sides

2003
268,719 number of Realtors
3,063,052 number of sides

Lets go to Math Class:
3324247 divided by 307613 equals: 10.81 transactions per agent in 2004
3063052 divided by 268719 equals: 11.40 transactions per agent in 2003

So in the so called housing boom Realtors are earning slightly less on average than that in 2003. Should the interest rate continue to increase and sales decrease we will then see a tapering off of Realtors who hoped to hop in this business to make a bunch a money. I will be courious to see the 2005 figures!

Top Florida Offices:
Watson Realty Group
41 Offices
19808 Transactions
1678 Realtors (doing an average 11.80 sides each)

Prudential Florida WCI (where I work :)
35 Offices
11193 Transactions
1520 Realtors (doing an average 7.36 sides each)

Keyes Company
32 Offices
11127 Transactions
1831 Realtors (doing an average 6.08 sides each)

Century 21 Sunbelt
9 Offices
8298 Transactions
393 Realtors (doing an average of 21.11) GO TEAM!!

Remax Partners
7 Offices
6016 Transactions
366 Realtors (doing an average of 16.44)

Realtor Identity Theft!

2005-04-01T08:09:00.000-05:00

Here's a good one for you. Police say a woman stole a Realtor's identity and duped renters into paying cash for a town house she had no business renting.

Miami-Dade police are searching for a woman who posed as a real estate agent and duped at least seven people into paying cash for two Kendall town houses she had no right to rent.

After convincing the real estate company that was renting the properties to give her the code to the lock box, police say the woman met with potential ''renters'' on March 1, 2 and 3, collected $1,800 in cash -- and then disappeared.

When the people, who are mainly from the Kendall and West Kendall areas, went to move into the town houses on March 8, their keys did not work.

She said her name was Digna Torres from Boynton Beach, and placed an advertisement in The Flyer for town houses located in the 8500 block of Southwest 109th Avenue.

Sad thing is Digna Torres is really a licensed realtor with Coldwell Banker(just down the road from my office)but it was not her. This person used her name to gain access to the units. (Stole her Identity) Here so many of the realtors use combination lockboxes not electronic due to the cost of the boxes being $100. So to show a home we have to call give our name, company name, office phone number and license number. This NEVER made any sense to me at all. Anyone could call with this information to get the combination to get the key enter the home. The electronic lockboxes record who and what time the home was entered and you have to get the key (to access the lockbox) from the Association meaning you are "truly" licensed.

When I first started in the Business the Company provided the lockboxes. You had to check them out in your name and return them or you paid for them. Then the Brokers decided that was an expense they no longer wanted to incur. That caused the agents to have to purchase lockboxes at approx $100 a piece. So if a seller removes it and then can not find it, you are out $100.

I feel the key security in this area is very lax. A lot of times you have to go by the other agents office to p/u a key by just showing your business card. I would suggest that agents take on the costs and responsiblity of key control. The electronic lockboxes can be set that they do not open except during certain times during the day. You also can go online and look at who has been in the home and for how long. This gal could not have committed these crimes using these particular units had they been on Electronic Lockboxes. She would not have had the key.

(Police are looking for a heavy-set Hispanic woman in her 40s with a medium complexion, about five-feet four-inches tall with short black hair. Anyone who has information on the woman, or who may be a victim of this fraud can call Miami-Dade Crimestoppers at 305-471-8477.)

Spring Time

2005-03-31T09:03:00.000-05:00

We change our clocks this weekend. I can never remember is it is spring forward or fall back...how does that go again? When it comes time to change the clocks that always tells me Summer is here not Spring. In Florida there is no Spring. We go from Fall right to Summer. No Winter No Spring. We have Fall from November thru March. I had an out of town buyer once ask me "How I do I know when it's Winter..." I said Football is on.

April is here tomorrow meaning Summer begins. Bring on the sweating, the burning hot steering wheels and the hot leather seats that we had to have in our "luxury" autos that give different meaning to "toasted buns." I do love Florida and will not leave the state again. After traveling around the country with my hubby while he served as a Navy Nuke for 20 years, there is nothing like home. I grew up wearing my swimsuit under my school clothes and head for the beach directly after school or even some times during school :) We wore flip flops and cut off jeans as the dress of the day. Make up was unheard of! Who needed it with that sun glazed face everyone had. (Yes I have paid for that at the dermatologist already.) We did not even wear perfume...the tropical essence from the tanning oil smelled just fine. Evenings were spent out by the river with a bonfire and tons of friends. Laughing, kissing boyfriends, and enjoying the "summer" evenings.

.....it is time to change the clocks this weekend, It is now Summer... how I love summer in Florida. There is no place like it!

House #7

2005-03-29T06:15:00.000-05:00

Oops we did it again...

We just bought another house in Titusville. This make 6 up there and the one down here for a total of 7. So... this starts the process of no sleeping... anxiety... buyers remorse, etc. I am my own worst buyer. I have buyers that handle this better than I do. I love selling homes to happy home purchasers knowing they will have celebrations, holidays and memories in their new home. That is why I do this, I just love that! But when I buy a house I am a wreck. Usually takes me about a week to recover. This house is 3/2 super cute in side. All new windows, it has a pool, nice shed with electric. Kitchen could use some updating. Roof is about 6 years old. It is about 1400 sq ft. That is a beautiful Grapefruit tree in the front yard and there is a nice Orange tree in the back yard. There will be a new development built behind this house but for now it is woods. I paid $190,000.
Let me know what you think? I am in day 2...5 more till I am normal again.

I've Made My Decision

2005-03-28T11:24:00.000-05:00

E.M. Forster: "We must be willing to let go of the life we have planned, so as to have the life that is waiting for us."

I have made my decision. It is up to the hubby at this point. He said to give him till Friday... it takes him longer... As a Nuclear Engineer you can imagine what his brain has to go through to justify actions....

The Madison

2005-03-28T08:51:00.000-05:00

Perfection is Black and White...There is no Gray

WCI Introduces The Madison in Downtown West Palm Beach
Lofts and Grand Sky Estates up to $3.5 Million on the Intercoastal

Contact me for more info.

Shhh... I am Praying.

2005-03-27T14:17:00.000-05:00

My husband in the middle of the night says "you awake?" I said "yes, but I am praying and you should be too."

Have you ever had to make a decision that would change your entire life. Your entire existence will change. I have never been really good at change and will stay with the same thing in order not to change. I know, I know, I know I was a military wife for 20 years. Change should feel like clean underwear to me. But this is like a fork in the road, you stay on the same road and you sort of know the end of it. You may not like it but you know the story, you know what to expect.

If you decide to take the other road not knowing what will happen..would you? This is my decision to make. Or should I say mine and my husbands. I know we have made other decisions through out the years some good some not so good, some we did not have a choice but had to. This one is tough.

Defined: to arrive at a solution that ends uncertainty or dispute about b : to select as a course of action

This is hard... I need some sleep.

ps. Happy Easter

We have landed... in Homestead!!

2005-03-25T04:49:00.000-05:00

37350 SW 214 AVE , Florida City, FL

Ok, this home I have to preview.... Has HGTV seen it yet?
Here is what the listing says:
GREAT OPPORTUNITY TO BUY 5 ACRES OF LAND, SET UP FOR A NURSERY BUSINESS, PLUS 2 SPECIALLY DESIGNED CUSTOM BUILD HOMES, EACH ONE WITH 4 BEDS, 4 BATHS, CERAMIC TILE, COMPLETELY FENCED, 2 WELLS, 2 SEPTIC TANKS, IRRIGATION SYSTEM & MORE. THE OWNER IS VERY MOTIVATED AND WILLING TO LISTEN TO ANY REASONABLE OFFER...$699,000 recently reduced from $750,000

Interested... Email me.

More Info on Impact Fees

2005-03-24T17:31:00.000-05:00

The County Governments have mounted a strong opposition campaign against HB 1173 and SB 2302 relating to Impact Fees. They are spreading misrepresentations of the what the legislation really does - standardizing how Impact Fees are calculated and implemented.Counties fear that this legislation slashes or caps Impact Fees, but the truth is far from that. What the legislation really does is:

· Require that data used to determine impact fee calculations must be based on the most recent and accurate data available.
· Impact fee calculations should provide a credit for the full present value of all past and future taxes paid or payable for the next 25 years.
· If an impact fee must be increased, places a six-month grace period between adoption of the increase and the actual implementation, plus increases should not apply to building permits completed prior the effective date of the fee increase.
· Local governments should be required to report fees collected and spent, limit their administrative fees to three percent not to exceed actual costs, and require impact fees to be refunded, with interest, if fees are not spent within six years of collection.
· Impact fees shall be paid in whole or in part at the time of closing, with any remainder to be assessed as part of the local government's tax bill and paid over a five to 10-20 year period.Please follow the link below to send an email to your legislator.
Click the following link to take action on this issue.http://www.votervoice.net/Groups/FHBA/?Screen=Alert&IssueID=4430

Below is another link to the website. However, if that does not work, please copy and cut the address into your web browser. Thank you.

http://www.votervoice.net/core.aspx?Screen=Alert&IssueID=4430&SessionID=AID=226:APP=GAC

Any questions email Wayne at: wayne@fhba.com

~thanks for the info Wayne~

Why People live in Florida....

2005-03-24T15:32:00.001-05:00

More of why people live in Florida... 84 degrees today!

2005-03-24T15:32:00.000-05:00

Is this due to New Construction Speculation???

2005-03-24T10:52:00.000-05:00

Sales of new homes jumped about 9.4 percent in February to a seasonally adjusted annual rate of 1.226 million, the Commerce Department estimated Thursday.

The sales rate is the second highest rate ever, matching December's pace and just below October's record 1.304 million. It was the largest percentage increase in four years.

Economists were expecting a small increase to about 1.14 million, according to a survey conducted by MarketWatch. See Economic Calendar.
The supply of new homes on the market rose to a record 444,000, representing a 4.4-month supply at the February sales pace. In January, the inventory had spiked to a 4.6-month supply. Read the full release.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
RISMEDIA, March 24 – Existing-home sales slipped in February but remained above year-ago levels, while home prices rose at double-digit rates, according to the National Association of Realtors. Total existing-home sales, including single-family, townhomes, condominiums and co-ops, were down 0.4 percent in February to a seasonally adjusted annual rate of 6.79 million from an upwardly revised pace of 6.82 million in January. Last month's sales activity was 6.1 percent above the 6.40 million-unit pace in February 2004.

Mosaic on Miami Beach

2005-03-24T08:11:00.000-05:00

Given WCI's stature as the National Association of Home Builder's "2004 America's Best Builder," the amenities concepts, services and facilities offered at Mosaic on Miami Beach are sure to provide "Lifestyles Beyond Expectations" for which the company is renowned.

Set to rise on a prized parcel of oceanfront within Miami Beach's legendary Historic District, Mosaic on Miami Beach will personify luxury surrounded by breathtaking views of the Atlantic, Intracoastal Waterway and Miami's dazzling skyline.
From eclectic art galleries to live theater to chic restaurants and world-class shopping, Mosaic is at the heart of an electrifying metropolitan district. Offering easy access to Miami and Ft. Lauderdale International Airports and proximity to South Beach and downtown, Mosaic on Miami Beach's location appeals to both the jet setter and local professional. It is a lifestyle dedicated to recreation, and one that offers future residents the opportunity to take full advantage of all that this celebrated destination has to offer.

Contact me for more information regarding this property.

Fed hikes federal funds rate

2005-03-22T17:36:00.000-05:00

In a widely expected move, the U.S. Federal Reserve today decided to raise its target for the federal funds rate to 2.75 percent, saying that pressures on inflation have picked up in recent months.

Update: Lawrence Yun, senior economist for the National Association of Realtors.
Yun says that the 30-year fixed mortgage – now 6 percent (average) -- will be 6.7 percent by year's end. Yun is predicting that residential sales will decline 3 percent for 2005 as a whole. This comes off of four record years. There were also be a slowing in price growth. Price appreciation in 2004 was 9 percent. It will be between 5 and 5.5 percent in 2005, according to Yun.

May want to purchase that home now!

$28 million available for first time homebuyers

2005-03-22T13:40:00.000-05:00

Interested in finding out more about Florida Housing’s First-Time Homebuyer Program can visit www.floridahousing.org

There are three downpayment assistance programs and a new 3 percent cash assistance option available. In some cases, homebuyers could be eligible for up to $25,000 in assistance.

First-time homebuyers purchasing homes in Urban Infill areas, Federally Designated Targeted areas, Front Porch and HOPE VI communities; or participants in the Self-Help Housing Program as well as disabled homebuyers may be eligible for mortgages at a subsidized rate of 4.99 percent. Other interest rates available include the program's standard 5.55 percent and a new 6.25 percent rate with a 3 percent cash-back option. Florida Housing’s products are 30-year fixed-rate mortgages.

Impact Fees Going UP and UP!

2005-03-21T15:59:00.000-05:00

New Construction may begin to see some dollar crunching which will be passed on to the buyer. Impact fees are one-time assessments levied on construction to raise money for the new schools, roads and other services or infrastructure needed to serve the development.

St. Johns County:
Under the county's existing impact fee system, all single-family residential construction currently pays the same impact fee of $2,630. However, under the new two-tier structure, homes that are 1,800 square feet or less will pay an impact fee of $6,685; all other homes will pay an impact fee of $9,299.

Brevard County:
Commissioners will discuss the proposal to charge a school impact fee of up to $4,445 on new homes during the April 29 meeting. The county school board wants the impact fees to help pay for the new public schools needed for its burgeoning student population.

Flagler County:
School Board is calling for a school impact fee in the range of $3,000

Collier County:
According to county figures, when the total fee goes into effect, in today's dollars it would create a $160 fee for a 1,000-square-foot single-family home, a $1,697 fee for a 1,000-square-foot retail space, and a $1,075 fee for a 1,000-square-foot office. It also would charge a $308 fee for a 1,000-square-foot church and a $526 fee for a 1,000-square-foot general industrial building.

Lake County:
Commissioners in Lake County, Fla., have approved a hike in school impact fees to $7,055 per home, effective at the beginning of February. Builders will be permitted to make prepayments at the current level of $3,489 until the new fee is implemented.

Infinity at Brickell

2005-03-20T07:19:00.000-05:00

The building is now 80% sold, there are still some great Pre-construction units available.

http://www.cl-development.com/infinity/index.php

Let me know if you are interested in Pre-Construction Condo. This link has photos and floor plans. Price $300-$1.2 Mil

Viva Las Vegas

2005-03-18T18:53:00.000-05:00

Ok, I am finally home from Vegas. Am I awake...not so sure? I did see Green Valley Ranch and I think every hotel on the strip. I won $1000 with a Royal Flush in Video Poker which was exciting and my hubby won $500 with 4 aces in Video Poker. Can not tell you much more about the conference because we sort of, kind of, well ok we skipped the rest of it. We had a blast though in Vegas.

In this business it is so tough to take a vacation. You lose so much business while away. You have to decide that the "cost" of vacation and a break from the stress of the real world is worth every penny. So when I go on vacation it is not just the airfare, hotel, food etc. It is also loss of clients. Most people are "immediate gradification" types and if you are a realtor and not available...someone else is.

The dictionary says that the word vacation means "A period of time devoted to pleasure, rest, or relaxation."

I talked to another realtor friend that was complaining about his blood pressure medicine and that it was bothering him so he went off it. He saw his doctor last week and it was 156/96. Now he has to go through all sorts of tests etc. I also realized while on "vacation" that I need to make some life changes as well. My blood pressure is not the greatest and I could use to eat better. And so what... I lost some business but I enjoyed a wonderful week with my best friend and husband.

I hope that everyone remembers to take a vacation and devote to rest and relaxation, even if it is in your own backyard. Stop and realize why you are working, and stop working yourself to death. Remember you can't take it with you.

Again, what good is the goal if you don't enjoy the journey.

If I am rambling it is because I need sleep. :)

Escalation Clause

2005-03-14T11:03:00.000-05:00

I am in Vegas at a Real Estate Convention. And the talk of the town is "Escalation Clause," that is when an offer is written and a clause is inserted that states you will pay X percentage over the highest offer received. The group I was talking to was from Seattle, WA. She told me the last offer in Rainier Beach that she did was written with a 35% escalation clause. I asked about the appraisal? How does it appraise, she said they do. I find that odd. Here in Miami we are not doing many if any escalation clauses on contracts because we know the fight we will have to get the appraisal up and or the buyer pays over appraisal. I am enjoying hearing about the different markets. But I hear of no "bubble" in these markets any time soon.

Hot Housing Markets

2005-03-12T07:43:00.000-05:00

These markets saw the greatest gains between the fourth quarter of 2003 and fourth quarter of 2004.
Market Percent increase
Las Vegas, NV 47.3
Riverside/San Bernardino, CA 34.7
West Palm Beach/Boca Raton, FL 34.0
Bradenton, FL 32.0
Sacramento, CA 31.5
Melbourne/Titusvile/Palm Bay, FL 30.5
Washington, DC 26.9
Ocala, FL 26.8
Ft. Myers/Cape Coral/Punta Gorda, FL 26.5
Sarasota, FL 25.8

Now to the defense of Melbourne/Titusville/Palm Bay. This is my old stomping grounds. For the longest time homes sold for $100,000 or less. Rarely did you hear about a sale around $150,000. This market was stagnant for 10 years maybe more. If median home prices are $187,000 this market has yet to hit that. I think in this area, the 30% market increase was more of a market adjustment to current prices. I don't think they are anywhere near "peak". You can still buy a NICE 3/2 home for around $160 in this market area. I am to bet that they will increase this year as well.

New Book coming out:

"Are You Missing the Real Estate Boom?" (Currency/Doubleday), is scheduled to be released in March and predicts that real estate investments will climb through the end of the decade.

Un-Broker

2005-03-11T14:13:00.000-05:00

Thanks to curbed I learned about the Un-Broker. Here are the 10 Commandments of the Un-Broker.

1. Treat people as you want to be treated.
2. Create a personable and friendly environment.
3. Listen, and get people what they need.
4. Current and consistent informational flow.
5. Be intelligent. Provide creative solutions to provide appropriate results.
6. Low pressure Atmosphere
7. Customer's needs always comes first.
8. Professional service.
9. Use Technology to create customer involvement.
10. Tireless effort to accomplish your goals.

Sounded reasonable to me, that is how I do business....I must be an Un-Broker.

Flips & More Flips in South Florida

2005-03-10T08:31:00.001-05:00

New Construction Flips:

~Houses~
Waterstone; 48 homes available, price range $224,900 to $435,000
The Shores; 5 homes available, price range $239,900 to $374,990
The Redlands; 5 homes available, price range $399,900 to $2,300,000
The Fairways/Augusta Green; 4 homes available, price range $304,900 to $509,990
Keys Landing; 8 homes available, $294,900 to $379,000
Cutler Cay; 7 homes available, $529,000 $745,000
Breakers @ Isle of Bayshore; 16 homes available $279,000 to $492,500
Blue Water; 2 homes available (just now starting to flip) $315,900 to $379,900
Cantamar; 22 homes available $265,000 to $530,000
Villas Del Campo; 5 homes available $295,000 to $359,900
Pelican Bay; 7 homes available $312,900 to $350,000

~Condo/Townhouses~
Marabella Cove at Waterstone; 10 available $189,900 to $239,900
Venetia; 54! available $142,000 to $232,000
Puerta Del Sol; 12 available $164,900 to $215,000
Santa Barbara; 11 available $210,000 to $260,000
Town Gate; 4 available (Arbor Park just now starting to flip) $195,000 to $252,900
Waterways; 4 available $259,000 to $269,000

Former HUD secretary

2005-03-09T16:12:00.000-05:00

CORAL GABLES, Fla. -- March 9, 2005 -- Former Housing and Urban Development (HUD) Secretary Henry Cisneros says housing prices are unlikely to drop, and that creates a dearth of affordable housing.

..He notes that rapidly increasing home prices are forcing lower-income families to remain on the sidelines, something Cisneros calls a "gap in access to the American wealth creation machine."

Some participants saw a glimmer of hope in the onslaught of new condominiums going up in South Florida. An increased supply could, some day, put downward pressure on prices and increase the number of affordable homes. But even optimists admit that, for now, the opposite seems to be true and prices continue to drive upward.

In Broward County, for example, home prices rose 35 percent in one year to a median price of $306,000. In Miami-Dade, prices rose 21 percent to $298,000. Meanwhile, the rate of homeownership in Miami-Dade of 62.5 percent trails the national average of 67.3 percent.

Source: Miami Herald, Gregg Fields, March 8, 2005.

4th Qtr Economic Market Watch Report

2005-03-09T13:29:00.000-05:00

Miami Dade 2004 Economic and Market Watch Report 4th Quarter

http://www.miamidaderealtors.com/miamidade4q04.pdf

The most expensive home in the MLS

2005-03-09T08:36:00.000-05:00

32 Mill!

So what do you think? This is the most expensive home in Dade County up for sale.
5 INDIAN CREEK DR Indian Creek, FL 33154
Price: $32 Mil.

Lovely photo of the home! Beautiful curb appeal... Great realtor I am sure. Guess they could not get past the guard gate to take the photo of the actual home.

Remarks copied from the MLS: JULIO IGLESIA'S WATERFRONT RETREAT ON FABULOUS INDIAN CREEK ISLAND. FLOOR TO CEILING GLASS MERGES TROPICAL LANDSCAPE & COURTYARD POOL WITH INTERIOR SPACES; MASTER SUITE, FORMAL LIVING & DINING ROOMS, INFORMAL LIVING ROOM, FL ROOM, INCREDIBLE POOL & PATIO & SIMPLY BREATHTAKING VIEWS.

I wonder if Julio knows about this?
PS. Commission is 1% of the sales price.

YeHaw hope you can attend!

2005-03-08T19:26:00.000-05:00

"The so-called "bad girl of sports," Tonya Harding (news - web sites), will make her first South Florida appearance Thursday.

Harding will take on a transvestite television personality from a Miami station. Word is that they have not been able to get approval to box, so the "fight" may be more wrestling than boxing.

The match will be at Beach Bums in Fort Lauderdale Thursday.
Tickets to the event are $20 at the door. " Click10.com

whatever..........

Update courtesy the Miami Herald:

After people paid up to $20 a ticket, the fight between Harding and transvestite Daisy D was canceled. Apparently, the match was not sanctioned by the state.
"If I would have participated in this event, I would have been stripped of my boxing title and also probably arrested," Harding said.
Harding said had she been allowed to fight, she would have made short work of Daisy D.
"It would have been fun, you know. Wham, bam, thank you mam," she said.
Fans who shelled out between $10 and $20 for tickets weren't happy with the cancellation. Instead of Harding vs. Daisy D., they watched several no-name wreslting matches.
"One hundred percent misled. A hundred percent. We came to see Daisy box Tonya Harding," said Nikki Weinberg.
Fan Dave Ellenberger said he asked for his money back but organizers just blew him off.

I miss my Dog.

2005-03-08T16:55:00.000-05:00

Our son recently got married. The gal he married is wonderful. Just love her to tears. My husband says I finally got a daughter. Well to be honest I have two daughters now. Our other son who recently accepted a position with "Take Two" or 2K or something entertainment will be moving to San Rafael in May, girlfriend~future wife in tow. Both gals are awesome, beautiful and kind. I don't foresee any bad "mom-in-law" problems. I miss both the boys a lot. The house is different without them home all the time. I am proud of both of them and what they have become and the "men" that they are. We did good. Both are funny only 20 & 22 years old and they can hardly wait to buy their first house. They could both take the real estate exam and pass with out studying after living with me. I have been in real estate since there were about 7 & 9 years old. They have had the words Escrow, EM Deposit, closing, listing, and floor duty in their vocabulary at an early age. They have no idea what a 401K or SEP IRA is, only real estate. I'll have to talk to them about that. Oh, back to the dog.

When our son got married he took (stole) the dog. Ok he said it was his dog and not mine so he took her. She is a beautiful dog, mix border collie golden retriever. Tan with white accents. She is the BEST dog anyone could have. She loves everyone. While working on the computer she'd always lay on the floor next to me and be ready to bark at the first sign of any noise (or danger in her ears). She used to sleep (don't say gross, if you have a dog you understand) with us in the bed but it was getting to hard for her to jump up and down so she slept right in the door way...again to protect us. She never bit anyone and would probably run the other way but she wanted us to think she was protecting us. She drove me nuts at times, she hated dog food. She loved to go on a walk and would tilt her head back and forth waiting for me to say "want to go for a walk?" And she would run to the door and grab her leash. She even talked. Like you would come in the door and she would go "wo woo woa wo" like "where have you been?"

Rainy days like today.... I miss my dog...Ok my son's dog.

This just in....

2005-03-07T13:00:00.000-05:00

I just got the appraisal back on a different transaction. Same neighborhood! House is 2053 sq feet...tiny lot no pool can go in. $345!!!

Low Appraisals

2005-03-07T08:31:00.000-05:00

Once again, due to an unexperienced appraiser a buyer will lose his house. The buyer had to cancel the moving van and now is in limbo with no place to go. The home he was purchasing was listed at $325 seller wanted more so both the listing agent and myself had to lower the commission in order for the buyer to get it at that price. The lender who is out of county orders the appraisal and as usual the appraiser is out of county and the appraisal comes in low....see it all the time. For the most part if the buyer wants the home he is going to have to pay above appraisal. Problem is that the buyer may be financing the majority of the loan and not putting 20-30% down. The comps actually show this home to be worth closer to $339. The home is in an area of new construction and a lot of "flips" so there is no "real exact" data but several pending sales which some appraisers refuse to use. Good one's do use them, or should I say educated, experienced appraisers use them. See we get these appraisers from Broward county to come down to Homestead and they think that PoDunk Homestead is still cheap farm land. So prior to leaving they already can not believe that a house could even sell in Homestead for over $200,000 because they are clueless.

Back to the buyer. This house sits on one of the largest lots in an area of new constructions where they are all very close together. This yard can take a pool which 90% of the lots can't. That there is valuable and will be in great demand when this purchaser sells. Sad thing is the purchaser is coming from a market that is slow he had his home up for sale since last October just getting an offer on it he was happy. He feels he is overpaying for the house and the Seller should reduce the price to $305,000, he is pretty emphatic about it. The seller laughs. The buyer will most likely let this home go and end up renting paying out $1600-$1900 a month to live in the same house costing him in upwards of $24,000 in one year's rent. This more than covers the difference in the appraisal. Word has it if the buyer can not get his lender to review the appraisal and work out the loan details, the owner is going to re-list at $339,000 why not? It is a great home, on a large lot and the next educated buyer will buy it.

What can I do, it's a sellers market... guess I will look up some rentals for him.

Update: Buyer and Seller were able to negotiate a remedy and Buyer is getting the home!

Interest Only Mortgages

2005-03-05T05:49:00.000-05:00

I read this post regarding interest only loans at http://www.bankrate.com/brm/news/mortgages/mortgage_update.asp
At Mortgage Matters he posts:

"...About a book called "Missed Fortune 101: A Starter Kit for Becoming a Millionaire," by Douglas R. Andrew. I haven't read it yet, but from glancing at it, it appears that Andrew is suggesting that people get zero-down, interest-only mortgages so they can free up money for investments. He preaches that "equity has no rate of return when it sits idly in the house."

"My mortgage broker friend believes that Andrew's message is catching on, and that a lot of homeowners will want to get interest-only mortgages and transform as much of their equity as possible into liquid investments. I am skeptical of the wisdom of treating one's home primarily as an investment vehicle and secondarily as shelter. I have the book and I'll read it."
I have several investment properties myself. But I think a bit different. I do long term investing meaning I don't flip my properties. I put at least 10% down sometimes 20%. This enables me to get the lowest possible payment when I rent out the home I get the highest rent possible. So for instance, I bought a $70,000 home (now worth $125,000) interest only, 20% down. My payments with taxes and insurance are around $400 a month. I get $750 a month income. That is $350 a month. You are correct in saying I am not paying down the loan which is fine with me. The income I am receiving off my initial investment of $14,000. $350 x 12 = $4200 minus a vacancy rate of 10% (that's high) That gives me $3780 a year. Basically I have recouped my down payment in 4 years and gained equity by the market appreciation.

Further... If I do not "need" the $350 a month income to live on and put the Entire $3780 at the end of the year towards the mortgage I could have the home paid in full in 10-15 years. See the loan is interest only. If I send $3780 towards the principle this reduces my loan balance which in turn reduces my monthly payment which in turns increase the amount I get from the rent (with out charging more). The bank wants me to stay on a 30 year mortgage so they re-adjust everything, they don't want me to pay it off. I know it is confusing...but it makes sense.

There are flex saver loans that are interest only, line of credit on your first. Meaning if I pay down the original balance I actually have checks that I can write against the equity in the house based on the original balance. I never have to apply for a line of credit I am given it basically at closing. Plus I can put down 10% and pay no PMI. And the payment due date is the 15th of the month not the 1st of the month like a standard mortgage. For investment properties that is great...Tenants do not always pay on time.

When looking at getting a mortgage do some research. Ok, do a lot of research. There are TONS of different loan programs out there.

I plan on buying the book. I enjoy this stuff!

Job Reviews

2005-03-03T21:26:00.000-05:00

I had to pencil this out for sanity sake. My husband has a very strong powerful job where they are VERY shorthanded due to the "training" it takes for this position. My husband is a perfectionist...love it about him keeps us neutal. There were 4 major catagories that he was rated on. Three VERY well one even said exceptional. Now again can I say shorthanded....and in one category they said he missed the mark. I said to him this evening, "If I had a 75% ratio of satisfied customers I'd be happy. I'd love it to be 100%!" But to each his own. Sometimes I did not click with the Seller all that well or even the buyer. There were Buyers that I was not there for at their "beckon call" because I had other buyers or sellers needing my attention too and I "picked" where I should be. Just like he picked where his attention was needed most. I hope and feel that I make 100% of the people I work with happy but I know I don't, and I know I can't. I can not be there for all. No one can. And to think you can...can drive you nuts. I have realized over the years that I do know Real Estate, and I do know investing, and I do know how to be a friend (you have to be one to have one) and I do know when I screw up. We are all human, and I applogize when I screwed up. My life is NOT a rating or a scale of performance but a day to day task. I hope others do not view their life as a "progess report". But realize if you are a good human soul you will do the best you can day by day honestly. That is what I try to do. I told my hubby to forget it...move on. That is what I love about this business... it is real estate...it moves on.

You know one of the biggest lessons I learned over years was a quote my mom used to say to me when after I got married and my husband was in the service and out to sea for months..."Stand up grab your ass and deal with it." So I did.

Real Estate Taxes

2005-03-03T09:30:00.000-05:00

Ok, since I brought it up earlier I want to also make you aware of the Homestead Exemption/Tax Cap. Here are bits and pieces of an article posted in the Tampa Tribune on March 1st.

When Patsy Bourassa's father passed away 11 years ago, she vowed to help her then-64-year-old mother repair her deteriorated home.

Bourassa moved back to the Palma Ceia house her parents had owned for 40 years and surveyed the damage: a rotting roof and front porch, termite damage and no central heat or air.

They made small fixes to the 1925 bungalow, and Bourassa later decided to borrow money to do the rest. She got estimates, and a bank agreed to loan her $75,000. But first, the bank said, Bourassa needed to put the south Tampa home in her name. Her ailing mother, Violet Hamilton, signed over the home to her without a second thought.

It was that decision in 2000 that eventually cost them the house.

"It tears at my heart every day that I did that to my mother," Bourassa now says. "I was just trying to make her house a decent place to live in."

The problem arose because Hamilton had homestead exemption, which had kept her property taxes from increasing more than 3 percent each year. The three-bedroom, 1,618- square-foot home that had cost $8,000 in 1964 was paid for. Hamilton paid about $1,400 a year in property taxes, even as properties in the prestigious Palma Ceia neighborhood appreciated.

However, when the deed was transferred into Bourassa's name, the homestead and tax cap were removed. The county reappraised the home and adjusted the property taxes to reflect the new value of more than $200,000.

Over the next two years, the taxes almost tripled to nearly $4,000 a year. That caused Bourassa's monthly payment on the home equity loan to rise from about $450 to $1,216. Bourassa, now 46 and a financial specialist for the University of South Florida, couldn't afford that kind of increase and was forced to sell the house in 2004....

...Florida homeowners have enjoyed protection from rising property taxes since the Save Our Homes amendment to the Florida Constitution passed in 1993. Those with homestead exemption get $25,000 off of the taxable value of their primary residence. This saves the typical homeowner an average of about $600 a year, Shepherd said. Plus, the taxable value won't grow more than 3 percent a year for as long the owner lives in the home...

...The sticker shock isn't limited to situations such as Bourassa's. New homeowners inherit the previous owner's taxes for the remainder of that year, but when the county appraises the value the next November, the taxes are adjusted.
_____________________________________________
Issue: Property tax disclosure with fines of $500/$1,000 per time and suit for damages up to 5 times tax difference

RAMB launched an all out push to get every Commissioner contacted to address our concerns and request support for deferral instead of final approval on Tuesday.

Mandatory Meeting

2005-03-03T08:00:00.000-05:00

Got a phone call yesterday from the secretary at our office that said there was a mandatory meeting at 1 pm. I asked what it was about she said the title company is doing a presentation on how "Sureclose" is going to work. Sureclose is through First Fidelity Title and they scan all the docs on the internet so your clients can view the progress of the closing. I had an inspection at 2 pm so I knew there was no way to do both and I hate meetings. Being the good realtor that I am I went to the office meeting. Drove 45 minutes in Traffic, meeting started 30 minutes late and lasted 5 minutes. We HAD to attend the 5 minute power point presentation so we could get our Login and Password....could not have just emailed it to me? Well standing in the room another realtor says don't you two (I was talking to someone else) work the Homestead Market. We both said yes. She said I am talking to this guy who wants to list his "flip" in the new development Waterstone and the sub-development is Portofino Lakes. She goes to say did you know the Turnpike runs right across his back yard? How do you deduct for this? Could not help but laugh and I asked her does he know about the Turnpike. She said no. He and his buddy investor bought it. The called the sales office and they faxed him the paper showing the lots. They picked this corner one looking at the lake. She said the Turnpike is no where shown on this map but it goes right over his back yard and lake! I asked if he had closed with the builder yet? She said he going to on Friday. I said find out how much he has down he may want to back out. I explained on top of the Turnpike does he know about the CDD? She said no what is that.... read on.

Long story short. I wake up this morning and this is in the paper.

Dozens sue; claim Lennar misled them
More than 35 Homestead homeowners have sued Lennar Corp., alleging that the Miami home builder hid their true tax burden. Lennar would not comment on the suit.
BY MATTHEW HAGGMAN
Dozens of homeowners in South Miami-Dade County sued Lennar Corp. on Wednesday, claiming that the home-building giant deliberately misled them about anticipated property taxes and homeownership costs they would have to pay.
The suit, filed in Miami-Dade Circuit Court, was brought by 37 homeowners who purchased single-family homes and town homes at two Lennar developments in Homestead, called Floridian Bay Estates and Floridian Isle...
Amid South Florida's real estate boom, property taxes have jumped as real estate values skyrocketed. But these plaintiffs, who closed on their homes in 2003 and 2004, allege it was not a red-hot real estate market that caused higher-than-expected tax bills, but rather that Lennar misrepresented how high they would be...
One Floridian Bay Estates homeowner, told The Herald that Lennar projected her tax bill to be $3,200. Instead, it turned out to be more than $7,700.
The plaintiffs also allege Lennar asserted that community development district fees -- which pay for roads, utilities, and subdivision amenities like pools and parks -- would be a one-time fee. Instead, according to the suit, such assessments aggregated to $30,000 per homeowner and are to be paid out over 30 years. Further, such assessments can be increased by the community development district board, which is currently controlled by Lennar, according to the homeowners.
''I didn't know I was going to be taxed in Homestead,'' said xxxx, a plaintiff in the suit who owns a home in Floridian Bay Estates. ``And I didn't realize the CDD was going to cost me anything after I closed. You have to tell me what I am paying for when I buy it.''
Residents in the two Homestead subdivisions, which are located in a larger residential community called Waterstone, didn't receive their first full-year tax bills until November...

Investors beware..... check out what you are buying and ask LOCAL EXPERIENCED agents who work the market what is going on in the area before you buy. Go to www.myhomesteadtaxes.com
for info from the homeowners themselves.

Real Estate Investing

2005-03-02T07:46:00.000-05:00

I am getting several emails and lots of phone calls regarding investing in real estate. It is all over the place... is there a bubble?... did I miss the ride?....are prices too high?...

I have been doing real estate for 15 years and in 3 different states. Each being extremely different. I was in Washington when market times were at least 90-120 days and you had to "stage" the home in order to get it sold. I have been in NJ where you have a 4 day attorney review where the home is not "pending" for 4 business days after both parties have accepted the contract and in the mean time during those 4 days more offers are pouring in at higher prices and buyers getting bumped. A very frustrating market for buyers but great for sellers. The buyers would be paying well above list price and somehow they all appraised. Here in Miami it is a sellers market, no "staging" here (I just wish seller would at least clean their home) but once a buyer and seller agree on a contract it is pending and only back up offers are accepted so we do not get many that go above list price. Yet we still struggle with appraisals coming in lower than contract price.

Do I think there is a bubble? No. Not by any means. Do I think you missed the ride? No get on board. Do I think prices are too high. NOPE. Not yet anyway. If you compare prices with other Metro Areas such as NYC, Seattle, Chicago we are not there yet. Many markets in Florida were undervalued for years. In Brevard County for 10 years my mom's house was worth $95,000 just the past two years has it become worth just over $200 where it should be. So I think it some areas it there have been Market adjustments.

Those of you wanting to invest, there are a few great books I would suggest. Skip all those no down payment, seller to carry the contract etc. and read these:

Rental Houses for the Small Successful Investor by Suzanne Thomas
The Unoffical Guide to Real Estate Investing by Martin Stone and Spencer Strauss

2005-03-01T12:18:00.000-05:00

I got this email this morning. I had just had a converstion with my husband last night how it seems if something strange is in the air. People are acting odd, stressed etc. I was wondering if it is because of the time of year. Holidays are long past, the end of the school year is getting closer and things just don't seem normal.... then I get this.

Subject: Land
Hi
I live in NYC now & planing to move to FL. March 22 I
am planing to come to sauth FL to do land shoping. At
this point I want to get a low $/acre AG land with
investment prospect for future to subdevide (later). I
also like some lake/river/wetland in the acreage so
that I can do some fish farming. I also like tropical
fruit farming for particular ethnick group in a non
frost zone.
Can you please do a search with $200k( for cash
buying) & another up to $.5 M. You can send me some
link at this address. Let me look at them & will call
you soon.
Thanks

I might need a vacation.

Bankruptcy Reform

2005-03-01T09:29:00.000-05:00

NAR ACTION CENTER: CALL FOR ACTION

CALL FOR ACTION: Bankruptcy Reform

Tell your Senators to vote for bankruptcy reform today. This week, the U.S. Senate will debate S. 256 the "Bankruptcy Abuse Prevention and Consumer Protection Act of 2005." S.256 contains four provisions that REALTORSÒ have wanted:
* Eliminates the cap on single-asset bankruptcies;
* Provides protections for shopping center owners;
* Closes the loophole which allows rental housing tenants to avoid eviction;
* Requires homeowner and condo association fees to be non-dischargeable.
NAR has lobbied for bankruptcy reform for five years. It's time to get it done.
What You Need to Do
Simply click on the "Take Action" button on this screen. The letters are already written for you and are just three computer clicks away from delivery directly to their offices.
If you cannot access the "Take Action" feature, just log on directly to the NAR Action Center (www.naractioncenter.com) to send letters to both of your U.S. Senators asking them to vote for S. 256Act.
The window of opportunity in the Senate may close quickly on this issue. Tell your Senators it's time for bankruptcy reform, NOW.

C lick here for more information on Bankruptcy Reform,

I guess 4 Hurricanes were not enough

2005-02-28T11:41:00.000-05:00

'Like an explosion,' twister rips Palm Bay
Storm injures 5, damages 25 residences

Homestead Taxes/Waterstone Development

2005-02-28T11:30:00.001-05:00

http://myhomesteadtaxes.com/

This makes for interesting reading. What a mess.

My understanding is the homeowners in this development were never told about The CDD which has raised some homeowners tax bill in upwards of $10,000

3 Contracts

2005-02-28T09:51:00.000-05:00

I know it is a seller's market here... I wrote 3 contracts this weekend and here is how it went.

Contract 1: Submitted to selling agent Thursday morning. Reasonable/starter home for $360,000. Buyer submits a $5000 Earnest money deposit close the end of March. Excellent buyer with excellent credit. Not good enough for the Seller who thinks he is D. Trump. He wants $10,000 and all contingencies removed with in 10 days including inspections and appraisal! And the EM non-refundable. Buyer is very frustrated but wants the house so he agrees to his unreasonable demands. The seller's agent appologizes for the seller and explains he is difficult to work with.

Contract 2: Offer submitted Friday morning. $155,000 not good enough for this seller either. But we have a "verbal" counter offer but no "written" counter offer. It is now Monday. Maybe I will see it sometime today. My buyer leaves to go back where they are moving from tomorrow.

Contract 3: Offer submitted Friday morning $147,000. Submitted to the agent (she is the owner). She was all excited to tell me about the place and to sell it. And now she does not return ANY calls after leaving several messages regarding the contract. And when you call her cell phone it says she can not take any more messages because her voice mail is full? Does she check it? It is not like she has to find the seller?? I had to call a mutual friend to find out what is going on with it (because she is getting a referral fee) and was told by the mutual friend that she will get back to me on Monday... we'll see. Sad thing is this buyer is leaving tomorrow as well so if she does not get the contract she has no more time to find something else.

What ever happened to "time is of the essence" in real estate. Or is it "lets hold it for a few days not call the selling agent back for a while and see if we can get multiple offers and drive the first buyer crazy while waiting to see if they got the house?"

2005-02-24T22:04:00.000-05:00

You know I am not sure, it could. I know that if you look up north (like NJ, NY) land being a HUGE commodity, and pricing out of control because there is no more land. So likewise in Miami where do you go… where there is land. Sad thing is we are losing our farms due to land values. If you can buy and acre for $150,000 multiply that by 20 acres and you are rich. So why bust your butt farming. Lets hope that the community looks at planning and development control. Right now the schools are over-maxed. And the taxes in some area are extreme due to the CDD’s. Knowledge is power. If you are concerned I’d definitely attend the Chamber functions as well as the City meetings to voice your opinion we do not have enough attendance in that area. Btw, thanks for the blog!

wow what happened??

2005-02-16T10:49:00.000-05:00

My realtor friends and lenders were complaining all of January that business had died. Well that changed. I think as of February 8th this place has gone crazy. My phone is ringing off the hook! My email is out of control! My lender friend can not see straight and is working 9am-9pm. Sellers have total control of the market and buyers had better realize that or they will be out of luck when it comes to getting the home that they want. I wrote 6 contacts and listed a home in the last 7 days. All six contracts were at either list price or just shy of it. The listing sold the next day at full price with multiple offers. If a seller has their home priced right and not at some ridiculous amount it should sell quickly!! More specific, if it is clean and ready to go. Did I say CLEAN I am so sick of showing dirty houses. Mr Seller... CLEAN! Hire a cleaning company before you put it up for sale... CLEAN. Anyway, I think we are going to see record numbers this month. 2005 Looks to be another strong year. If you are thinking of selling... NOW IS THE TIME. We are so short inventory of GOOD CLEAN homes and we all have buyers waiting to buy that home.

I also had the not-so good advantage of working with an "off" name discount real estate company. Geez, where do they find their realtors?? They have no experience and no knowledge and have no idea how to put a contract together.... help me!

Buyer's if you are looking in this market, don't goof around get your contract signed around as quickly as possible or you may lose out.

Real Estate Prices

2005-02-07T17:41:00.000-05:00

Sales in The Homestead/Relands areas
Area 78
1/2004 (16) closed sales
Area 79
1/2004 (21) closed sales
Area 68
1/2004 (10) closed sales
Area 69
1/2004 (31) closed sales
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Area 78
1/2005 (11) Closed Sales
Area 79
1/2005 (35) Closed Sales
Area 68
1/2005 (4) Closed Sales
Area 69
1/2005 (19) Closed Sales

Does anyone feel like the market is slowing down in re-sales. Area 79 is so full of new construction that is why the 35 closed sales in January....flips???